Page 4 - Initial Public Offerings

NLC India to raise funds via IPO of arm for clean energy expansion: CMD

Lignite-to-power producer NLC India Ltd (NLCIL) is planning to raise funds through an initial public offering (IPO) of its wholly owned subsidiary NLC India Renewables Ltd by the first quarter of the next financial year, company's Chairman and Managing Director (CMD) Prasanna Kumar Motupalli said. In an interview to PTI here, the CMD said the PSU is planning to ramp up its renewable energy capacity from the current 1.4 GW to 6 GW by 2030. The funds raised via the IPO will be used in its clean energy expansion plans, he said. The company also plans to arrange soft loans from foreign companies and banks for this purpose, the CMD explained. "As on date... the existing assets of NLCIL are to be transferred to that company (NLC India Renewables Ltd). For transfer of that assets, some exemption is required from the Government of India. So that process is on. "So, we are expecting to get that clearance from the government by around October. In the first quarter of the next financial year

Vraj Iron and Steel's Rs 171 cr IPO subscribed 16.9 times on Day 2 of offer

The initial public offer of Vraj Iron and Steel got subscribed 16.90 times on the second day of bidding on Thursday. The Rs 171-crore initial share sale received bids for 10,37,65,824 shares against 61,38,462 shares on offer, as per NSE data. The quota for non-institutional investors received 32.51 times subscription while Retail Individual Investors (RIIs) portion got subscribed 19.35 times. The category for Qualified Institutional Buyers (QIBs) fetched 91 per cent subscription. Vraj Iron and Steel on Tuesday said it raised a little over Rs 51 crore from anchor investors. The IPO is entirely a fresh issue of equity shares with no offer-for-sale component. Shares will be available for public subscription in the range of Rs 195 to Rs 207 per scrip. The company will use the IPO proceeds for expansion projects at the Bilaspur facility in Chhattisgarh and general corporate purposes. Raipur-based Vraj Iron and Steel is into manufacturing sponge iron, MS (Mid Steel) billets, and TMT (

Luxury furniture brand Stanley Lifestyles IPO subscribed over 96 times

The initial public offer of luxury furniture brand Stanley Lifestyles got subscribed a whopping 96.25 times on the last day of subscription on Tuesday. The Rs 537 crore initial share-sale received bids for 98,56,97,520 shares against 1,02,41,507 shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) fetched 222.10 times subscription while the quota for non-institutional investors got subscribed 118.65 times. The quota for Retail Individual Investors (RIIs) attracted 18.13 times subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 200 crore and an offer for sale of up to 91,33,454 equity shares. The initial share-sale has a price range of Rs 351-369 per share. The IPO of Stanley Lifestyles got subscribed 1.43 times on the first day of subscription on Friday. Stanley Lifestyles on Thursday said it raised a little over Rs 161 crore from anchor investors. The net proceeds from the fresh issue to the tune of Rs 90.13 crore

Akme Fintrade's Rs 132 crore IPO subscribed 3 times on Day 1 of offer

The initial share sale of non-banking finance company Akme Fintrade (India) Ltd received 3 times subscription on the first day of bidding on Wednesday. The Rs 132 crore initial public offer received bids for 2,36,47,500 shares against 78,65,000 shares on offer, according to NSE data. The quota for non-institutional investors fetched 5.15 times subscription while the Retail Individual Investors (RIIs) part got subscribed 4.16 times. The category for Qualified Institutional Buyers (QIBs) received 2 per cent subscription. The Initial Public Offer (IPO) has a fresh issue of up to 1.1 crore equity shares. Price range for the offer is Rs 114-120 per share. Akme Fintrade (India) Ltd on Tuesday said it has raised nearly Rs 38 crore from anchor investors. Akme Fintrade is primarily engaged in providing rural and semi-urban-centric lending solutions to customers in four states -- Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. The company's portfolio includes vehicle finance and busine

Durlax Top to raise Rs 40 cr via IPO, fixes price at Rs 65-68 per share

Solid surface manufacturer Durlax Top Surface plans to raise around Rs 40.80 crore through its initial public offer which will open for subscription on June 19, a statement said on Monday. The company, which has been involved in the business of solid surface for over a decade, has received approval to launch its public issue on the NSE Emerge Platform of the National Stock Exchange, Durlax Top Surface said in the statement. The company has fixed the price band at Rs 65-68 per share for the issue of 60 lakh shares which will open for subscription from June 19 to June 21, it added. The IPO comprises a fresh issue of 42 lakh shares worth up to Rs 28.56 crore and an Offer for Sale of 18 lakh shares worth up to Rs 12.24 crore. Out of the fresh issue of Rs 28.56 crore, the company plans to utilise Rs 17.50 crore to part finance working capital requirements and Rs 6 crore towards general corporate purposes. Investors can bid for a minimum of 2,000 shares and in multiples thereof. Promot

6 SME IPOs to open this week; check size, issue price, GMP and more

Falcon Technoprojects India IPO is a fixed price issue of Rs 13.69 crore. The issue is entirely a fresh issue of 14.88 lakh shares

Shein hikes prices ahead of IPO; avg price of dress jumps by 28% in US

The company operates an online marketplace selling an array of merchandise, though its main business is making and selling Shein's own brands, primarily women's clothing

Ixigo's parent firm, Bansal Wire Industries get Sebi's nod to float IPO

Le Travenues Technology Ltd, which operates the travel booking platform ixigo, and steel wire manufacturer Bansal Wire Industries have received Sebi's go-ahead to raise funds through Initial Public Offering (IPOs), an update with the markets regulator showed on Wednesday. The two companies, which filed their preliminary IPO papers with Sebi in February and March, obtained their observations during May 14-17. In Sebi's parlance, obtaining observations means the regulator's go-ahead to float public issue. The Gurugram-based Le Travenues Technology's proposed IPO will be a combination of a fresh issue of equity shares worth Rs 120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares by existing shareholders, according to the Draft Red Herring Prospectus (DRHP). SAIF Partners India IV Ltd, Peak XV Partners Investments V (formerly known as SCI Investments V), Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, Aloke Bajpai and Rajnish

Big IPOs seen making a comeback in India after boom in smaller offerings

A flurry of small deals has made India one of Asia's busiest IPO markets this year. Bigger share sales brighten the nation's chances of attracting global funds as investors rotate money

HOAC Foods IPO Day 1: Check subscription status, GMP, financials & more

The IPO, which opened on Thursday, May 16, has been oversubscribed 13.57 times, indicating robust demand from investors

TBO Tek makes strong market debut; lists at 50% premium over issue price

On the NSE, TBO Tek made debut at Rs 1,426 per share, a 55 per cent premium to its issue price of Rs 920

Winsol Engineers IPO opens on May 6: Check subscription, GMP, price band

The company plans to utilise the net proceeds for working capital requirements and general corporate purposes

Street Signs: Navigating market rapids, IPO Street set to sparkle, and more

The grey market premiums (GMPs) for the three initial public offerings (IPOs) that open this week range between 20 per cent and 55 per cent

Three firms set to drive primary mkt with Rs 6,400 cr IPO blitz this week

The primary market is gearing up for significant activity this week, with three companies -- Blackstone-backed Aadhar Housing Finance, healthcare tech firm Indegene and travel distribution firm TBO Tek -- poised to float IPOs aiming to collectively raise nearly Rs 6,400 crore. Before that, JNK India garnered Rs 650 crore through its initial share-sale last month. Since 2004, there hasn't been a single IPO launch during May in the last four general election cycles. Typically, the April to June period during these years has been slow for the primary markets due to election uncertainty, said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors. However, this trend has changed now with the launch of three mainboard initial public offerings (IPOs) next week. Samir Bahl, CEO of Anand Rathi Advisors told PTI that the new trend is a positive sign indicating the maturing of the Indian capital markets and confidence in India's long-term growth story irrespective of political ...

Travel distribution firm TBO Tek eyes Rs 1K cr via IPO; issue to open May 8

Travel distribution firm TBO Tek Ltd is looking to raise Rs 1,000 crore through its initial share sale, which will open for public subscription on May 8. The Initial Public Offering (IPO) will conclude on May 10 and the bidding for anchor investors will open for a day on May 7, according to the Red Herring Prospectus (RHP). The company's maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer-for-Sale (0FS) of up to 1.25 crore equity shares by promoters and investors. According to market sources, OFS size could be around Rs 600 crore, taking the total IPO size to Rs 1,000 crore. Those selling shares in the OFS are promoters -- Gaurav Bhatnagar, Manish Dhingra and LAP Travel -- and investors-- TBO Korea and Augusta TBO. Proceeds from the fresh issue will be used for the growth and strengthening of the platform by adding new buyers and suppliers, and unidentified inorganic acquisitions, besides, a portion will be used for general ...

Microsoft-backed Rubrik prices US IPO above range at $32 per share

Rubrik upsized its IPO to raise $752 million after selling 23.5 million shares, the company said in a statement. This confirmed an earlier Reuters report about the offering details

Invesco marks up IPO-bound Swiggy's valuation by 19% to $12.7 billion

A series of mark-ups push the company's valuation closer to its rival Zomato

Investment bankers lead the charge with Rs 1,000 crore record haul in Q1

Top performers poised for bonus payouts equalling 1.2x annual pay

India, South Korea, and Japan to stay busy with IPOs while China stalls

While IPOs returned to major venues in Europe and the US, the slowdown in Asia was mostly due to Beijing's decision to ramp up scrutiny of domestic new share sales as it tries to boost confidence

Ecos (India) Mobility files draft paper with Sebi to mop up funds via IPO

Chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality Ltd has filed preliminary papers with capital markets regulator Sebi to garner funds through an initial public offering (IPO). The maiden public issue is entirely an offer for sale (OFS) of 1.8 crore equity shares by promoters -- Rajesh Loomba and Aditya Loomba -- with no fresh issue component, according to the draft red herring prospectus (DRHP) filed on Thursday. At present, promoters and promoter group entities hold 100 per cent stake in the company. Since it is an OFS, the Delhi-based firm will not receive any proceeds from the IPO and the money will go to the promoters selling shares. The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides specialty vehicles such as luggage vans, limousines, vintage cars and vehicles for