Page 10 - Initial Public Offerings

Investors react positively to LIC's good showing in second quarter

LIC posted a record rise in the Q2 profit after tax (PAT) to Rs 15,950 crore, up 10x year-on-year (YoY) compared to Rs 1,433.71 crore a year ago

Inox Green Energy Services' Rs 740-crore IPO subscribed 85% on Day 2

The initial share-sale of Inox Green Energy Services, a subsidiary of Inox Wind, was subscribed 85 per cent on the second day of offer on Monday. The Rs 740-crore IPO received bids for 5,70,13,780 shares against 6,67,21,310 on offer, as per NSE data. Retail Individual Investors (RIIs) category was subscribed 2.93 times, Qualified Institutional Buyers (QIBs) portion received 47 per cent subscription and non-institutional investors got 23 per cent. The Initial Public Offering (IPO) has a fresh issue of up to Rs 370 crore and an offer for sale of up to Rs 370 crore. The public subscription will conclude on Tuesday and has a price range of Rs 61-65 a share. Inox Green Energy Services has collected Rs 333 crore from anchor investors. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes. Inox Green is engaged in the business of providing long-term Operation and Maintenance (O&M) services for wind farm projects, specifically for wind turbine ...

Keystone Realtors' Rs 635-crore IPO subscribed 8% on Day 1 of offer

The Initial Public Offering (IPO) of Keystone Realtors, which sells properties under the brand 'Rustomjee', was subscribed 8 per cent on the first day of subscription on Monday. The Rs 635-crore IPO received bids for 7,24,599 shares against 86,47,858 shares on offer, according to an update available with the NSE. The category meant for Retail Individual Investors (RIIs) was subscribed 12 per cent and the quota for non institutional investors got 11 per cent subscription. The initial public offering has a fresh issue of up to Rs 560 crore and an offer for sale of up to Rs 75 crore. Price range for the offer is at Rs 514-541 a share. Keystone Realtors on Friday said it has collected a little over Rs 190 crore from anchor investors. The company intends to utilise the net proceeds towards funding the repayment/prepayment of borrowings to the tune of Rs 341.6 crore as well as towards funding the acquisition of future real estate projects and general corporate purposes. Founded in 199

Inox Green Energy's Rs 740-crore IPO subscribed 46% on Day 1 of offer

The initial share sale of Inox Green Energy got subscribed 46 per cent on the first day of subscription on Friday. The Initial Public Offering (IPO) received bids for 3.05 crore shares against 6.67 crore shares on offer, according to NSE data. The portion for Retail Individual Investors (RIIs) got subscribed 1.03 times while the category for Qualified Institutional Buyers (QIBs) received 47 per cent subscription. The quota for non-institutional investors got subscribed 5 per cent. Inox Green Energy Services, a subsidiary of Inox Wind, said on Thursday that it has collected Rs 333 crore from anchor investors. The Rs 740-crore initial public offering (IPO) of Inox Green comprises a fresh issue and an offer for sale of Rs 370 crore. The company has fixed a price band of Rs 61-65 per share for its IPO. Inox Green is engaged in the business of providing long-term Operation and Maintenance (O&M) services for wind farm projects, specifically for wind turbine generators and common ...

SoftBank Vision Fund loses $7.2 billion on back of tech writedowns

The Vision Fund segment lost 1.02 trillion yen in July-September, following a 2.33 trillion yen loss in the June quarter. Overall, the Japanese conglomerate logged net income of 3.03 trn in last qtr

Archean Chemical Industries IPO subscribed 32.23 times on Day 3 of offer

The initial public offering of Archean Chemical Industries was subscribed 32.23 times by the close of the subscription period on Friday. The Initial Public Offering (IPO) received bids for 64,31,70,528 shares against 1,99,57,325 shares on offer, according to data available with the National Stock Exchange (NSE). The quota meant for Qualified Institutional Buyers (QIBs) received 48.91 times subscription, while the non-institutional investors category was subscribed 14.90 times and Retail Individual Investors (RIIs) was subscribed 9.96 times. The IPO consists of a fresh issue of equity shares aggregating up to Rs 805 crore and an Offer For Sale (OFS) of up to 1.61 crore shares by the promoter and investors. The price range for the offer is Rs 386-407 per share. On Monday, the company raised Rs 658 crore from anchor investors. The firm plans to use the proceeds of the fresh issue for the redemption of Non-Convertible Debentures (NCDs) issued by it. Archean is focused on producing a

Kaynes Technology's IPO subscribed 1.10 times on Day 2 of offer

The initial share sale of Kaynes Technology India Ltd got subscribed 1.10 times on the second day of subscription on Friday. The Initial Public Offering (IPO) received bids for 1,14,70,150 shares against 1,04,70,246 shares on offer, according to NSE data. The quota for Qualified Institutional Buyers (QIBs) got subscribed 2.45 times while the category for non-institutional investors was subscribed 77 per cent. The portion for Retail Individual Investors (RIIs) received 47 per cent subscription and that for employees got subscribed over three times. On Wednesday, Kaynes Technology had raised Rs 257 crore from anchor investors. The company's IPO comprises fresh issue of equity shares worth Rs 530 crore and an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder. The price band for the issue is Rs 559-587 per share. Proceeds from the fresh issue will be used to repay debt, funding capital expenditure for its manufacturing facilities at Mys

Kaynes Technology's IPO subscribed 23% on Day 1 of offer: NSE data

The initial share sale of Kaynes Technology India Ltd got subscribed 23 per cent on the first day of subscription on Thursday. The Initial Public Offering (IPO) received bids for 24,29,325 shares against 1,04,70,246 shares on offer, according to NSE data. The quota for Qualified Institutional Buyers (QIBs) got subscribed 52 per cent while the category for Retail Individual Investors (RIIs) received 12 per cent subscription. The portion for non-institutional investors was subscribed 10 per cent and that for employees got subscribed a little over two times. On Wednesday, Kaynes Technology raised Rs 257 crore from anchor investors. The company's IPO comprises fresh issue of equity shares worth Rs 530 crore and an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder. The price band for the issue is Rs 559-587 per share. Proceeds from the fresh issue will be used to repay debt, funding capital expenditure for its manufacturing facilities

Archean Chemical Industries IPO subscribed 1.41 times on Day 2 of offer

The initial share sale of Archean Chemical Industries was subscribed 1.41 times on the second day of offer on Thursday. The Initial Public Offering (IPO) received bids for 2,81,97,180 shares against 1,99,57,325 shares on offer, according to data available with the National Stock Exchange (NSE). The portion for Retail Individual Investors (RIIs) was subscribed 2.94 times, non-institutional investors received 2.07 times subscription and Qualified Institutional Buyers (QIBs) portion got subscribed 54 per cent. The IPO consists of a fresh issue of equity shares aggregating up to Rs 805 crore and an Offer For Sale (OFS) of up to 1.61 crore shares by the promoter and investors. The price range for the offer is at Rs 386-407 per share. On Monday, the company raised Rs 658 crore from anchor investors. The firm plans to use the proceeds of the fresh issue for the redemption of Non-Convertible Debentures (NCDs) issued by it. Archean is focused on producing and exporting bromine, industria

Nykaa shares slump as one-year lockup period of pre-IPO investors ends

Selling pressure from pre-IPO investors feared in four start-ups this month

Archean Chemical Industries IPO subscribed 30% on first day of offer

Specialty marine chemical manufacturer Archean Chemical Industries' initial share sale got subscribed 30 per cent on the first day of subscription on Wednesday. The Initial Public Offering (IPO) received bids for 59,41,260 shares against 1,99,57,325 shares on offer, according to NSE data. The portion for Retail Individual Investors (RIIs) got subscribed 95 per cent. The category for non-institutional investors received 36 per cent subscription while Qualified Institutional Buyers (QIBs) portion was subscribed 4 per cent. The IPO consists of a fresh issue of equity shares aggregating up to Rs 805 crore and an Offer For Sale (OFS) of up to 1.61 crore shares by the promoter and investors. The price band has been fixed at Rs 386-407 per share. On Monday, the company raised Rs 658 crore from anchor investors. The firm plans to use the proceeds of the fresh issue for the redemption of Non-Convertible Debentures (NCDs) issued by it. Archean is focused on producing and exporting bromine

White-knuckle volatility forces companies to let IPO approvals lapse

Some firms may blue-pencil valuations because of capital requirement compulsions or for providing exits to their investors. Still others can afford to wait

Sah Polymers, Sula Vineyards get Sebi's nod to float IPOs to raise funds

Polymer manufacturer Sah Polymers and leading wine producer Sula Vineyards have received capital markets regulator Sebi's approval to raise funds through initial public offerings (IPOs). The two companies, which had filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi) during April and July 2022, obtained observations during October 31-November 3, an update with the regulator showed on Monday. In Sebi's parlance, the regulator's observation means its go-ahead to launch an initial share sale. Going by the draft papers, Sah Polymers' IPO will be a fresh issue of 1,02,00,000 equity shares, with no offer-for-sale component. The company proposes to utilise net proceeds from the fresh issuance of equity shares towards manufacturing of new Flexible Intermediate Bulk Containers (FIBC) plant and expansion of production capacity; funding working capital requirements for the new project; and payment of certain debt. The Udaipur-based company is primarily engaged

Awfis aims to double revenue to Rs 600 cr in FY23; IPO by Dec next year

Co-working operator Awfis is targeting two-fold jump in revenue to Rs 600 crore in FY23 as demand for flexible workspace has risen post the second wave of the pandemic, its founder and CEO Amit Ramani said. The company also plans to launch its initial public offer (IPO) towards the end of 2023 mainly to raise funds and give exits to investors, he said, adding the company has so far raised about Rs 450 crore from investors. At present, Awfis has 150 centres across 17 cities, comprising about 90,000 desks. It offers a desk in a price range of Rs 7,000-20,000 per month. In an interview with PTI, Ramani said the co-working segment, which includes managed office space, has been performing exceedingly well in the past 12-15 months. "Our revenue grew to Rs 280 crore in last financial year from Rs 220 crore in previous fiscal year. This financial year, we are targeting around Rs 600 crore revenue," he said. Ramani highlighted that the company has already achieved a monthly run rate of Rs

Investcorp plans major ramp up of India assets to $5 billion: Alardhi

The Middle East firm expects to reach $5 billion of assets in India in the next five years, up from just over $600 million currently, or 1.5% of the $42.7 billion in assets managed by Investcorp

Fusion microfinance subscribed 3x on Day-2 on strong institutional support

Medanta Hospitals IPO subscribed 36% on day-2, Bikaji Foods by 1.5 times

Kaynes Technology IPO set to open on Nov 10; fresh issue size at Rs 530 cr

The initial share-sale of Kaynes Technology India Limited (KTIL), an IoT solutions-enabled integrated electronics manufacturing company, will kick off for public subscription on November 10. The Initial Public Offering (IPO) will conclude on November 14 and the bidding for anchor investors will open on November 9, according to the Red Herring Prospectus (RHP). The company has cut fresh issue size to Rs 530 crore from Rs 650 crore planned earlier. Besides, there would be an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder. The OFS comprises sale of 20.84 lakh equity shares by promoter Ramesh Kunhikannan and 35 lakh equity shares by existing shareholder Freny Firoze Irani. Proceeds from the fresh issue will be used to repay debt, funding capital expenditure for its manufacturing facilities at Mysore and Manesar and funding working capital requirements. Also, the company plans to invest in its arm Kaynes Electronics Manufacturing Pvt Ltd

Fusion Micro Finance IPO subscribed 29% on Day 2 of offer: NSE data

The initial public offering of Fusion Micro Finance was subscribed 29 per cent on the second day of subscription on Thursday. The IPO received bids for 61,45,560 shares against 2,13,75,525 shares on offer, according to NSE data. The category meant for non-institutional investors was subscribed 61 per cent and Retail Individual Investors (RIIs) part attracted 31 per cent subscription. The IPO has a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares. Price range for the offer is at Rs 350-368 a share. On Tuesday, Fusion Micro Finance said it has raised a little over Rs 331 crore from anchor investors. The company is expected to raise Rs 1,104 crore at the upper end of the price band. Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm. IIFL Securities, ICICI Securities, CLSA India and JM Financial are the mangers to the offer.

ESAF SFB refiling draft papers for IPO, will finish process by Dec

Issue size to smaller than earlier plan of Rs 998 crore, says company's CEO

Fusion Micro Finance IPO receives 12% subscription on Day 1 of offer

The initial public offering of Fusion Micro Finance was subscribed 12 per cent on the first day of subscription on Wednesday. The IPO received bids for 26,04,560 shares against 2,13,75,525 shares on offer, according to an update on the NSE. The non-institutional investors category received 23 per cent subscription and Retail Individual Investors (RIIs) portion was subscribed 14 per cent. The Initial Public Offering (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares. The offer has a price range of Rs 350-368 a share. Fusion Micro Finance on Tuesday said it has raised a little over Rs 331 crore from anchor investors. The company is expected to raise Rs 1,104 crore at the upper end of the price band. Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm. IIFL Securities, ICICI Securities, CLSA India and JM Financial are the managers to the offer.