Page 5 - Initial Public Offerings

IPO disclosures in AV format; SCI's demerged entity makes debut, and more

Shares of Popular Vehicles and Services, an automobile dealership firm, fell by over 6 per cent during their trading debut on Tuesday

Baazar Style Retail files draft papers with Sebi to raise funds via IPO

Value fashion retailer Baazar Style Retail Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares worth Rs 185 crore and an Offer for Sale (OFS) of up to 1.68 crore by promoter group entities and other selling shareholders, Draft Red Herring Prospectus (DRHP) filed with Sebi showed. Under the OFS, Rekha Rakesh Jhunjhunwala will sell 27.23 lakh equity shares, Intensive Softshare Private Limited will offload 22.40 crore shares and Intensive Finance Private Limited will divest 14.87 lakh shares among others. The offer includes a reservation for subscription by eligible employees. Going by the draft papers filed on Friday, the Kolkata-based company may consider raising Rs 37 crore in a pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issuance to the extent of Rs 135 crore will

Popular Vehicles and Services IPO: Date, price band, GMP, financials & more

Popular Vehicles and Services IPO: Popular Vehicles & Services IPO is a book built issue of Rs 601.55 crore. The price band is set at Rs 280 to Rs 295 per share

IPO craze: Three firms to collectively raise Rs 1,325 crore next week

The primary market will see a flurry of activity in March, with at least three companies including Gopal Snacks will float their initial public offerings (IPOs) in the upcoming week to raise Rs 1,325 crore collectively. The other two companies which are set to launch their maiden public issues are -- RK Swamy and JG Chemicals. Additionally, Bengaluru-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers. Market experts attributed the bustling IPO activity to various factors, including impressive post-listing returns from recent public offerings and the robust macroeconomic conditions. So far this year, 16 companies launched their IPOs to mobilise Rs 13,000 crore, while Rs 224-crore initial share-sale of Mukka Proteins is slated to conclude on March 4. This came after 58 maiden public issues initiated in 2023 to garner Rs 52,637 crore. This included the Rs ...

Bharat Highways Invit to float IPO on Feb 28, price set at Rs 98-100 a unit

Bharat Highways InvIT, an infrastructure investment trust, on Thursday said it will launch its Rs 2,500 crore Initial Public Offering (IPO) on February 28. The InvIT's maiden public issue will conclude on March 1 and the price band has been set at Rs 98-100 per unit for the issue, Bharat Highways InvIT said in a statement. Proceeds from the issue will be utilised to provide loans to the Project SPVs (special purpose vehicles) for repayment of their outstanding loans. Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India and to carry on the activities of an infrastructure investment trust under Sebi's InvIT rule. Its initial portfolio consists of seven road assets, all operating on HAM (Hybrid Annuity Model) basis, in Punjab, Gujarat, Andhra Pradesh, Maharashtra, and Uttar Pradesh consisting of about 497.292 km of constructed and operational roads. Additionally, the InvIT has entered

Sebi ups scrutiny of issue documents amid a rise in IPO in market: Reports

"The regulator has returned at least six public offer documents, as Sebi observed companies are misleading in their reasons for fundraise," said the first of the four people cited above

PhonePe adds former revenue secretary, 2 Walmart executives to its board

The strengthening of PhonePe's board comes at a time when the government is tightening the regulatory framework. PhonePe's rival Paytm is already facing multiple issues

Nova Agritech IPO subscribed 33.82x on Day 2; NII category booked 71.19x

The Initial Public Offering (IPO) of Nova Agritech Ltd, a manufacturer of agricultural inputs, got subscribed 33.82 times on the second day of subscription on Wednesday. The IPO received bids for 85,96,22,815 shares against 2,54,14,746 shares on offer, as per NSE data. The category for Non-Institutional Investors (NIIs) received 71.19 times subscriptions, while the portion for Retail Individual Investors (RIIs) subscribed 36.19 times. Qualified Institutional Buyers (QIBs) part got subscribed 1.12 times. The IPO comprises a fresh issue of equity shares worth up to Rs 112 crore and an Offer For Sale (OFS) component of 77.58 lakh equity shares by a shareholder Nutalapati Venkatasubbarao, who owns an 11.9 per cent stake in the company. On Friday, Nova Agritech had raised a little over Rs 43 crore from anchor investors. It has set a price band of Rs 39-41 per share for the issue. At the upper end of the price band, the maiden public issue is expected to mobilise Rs 143.81 ...

Bansal Wire Industries files draft papers to mobilise Rs 745 cr via IPO

Steel wire manufacturer Bansal Wire Industries Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 745 crore through an Initial Public Offering (IPO). The maiden public issue is an entirely fresh issue of equity shares with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday. Funds will be used for the payment of debt, to support the working capital requirements of the company, and for general corporate purposes. Bansal Wire Industries is engaged in the business of manufacturing and exporting steel wires. It operates in three broad segments -- high carbon steel wire, mild steel wire (low carbon steel wire) and stainless steel wire. Also, the company plans to add a new segment of specialty wires through its upcoming plant in Dadri, which will help it grow and expand its market presence in the upcoming fiscals. The company's total income increased at a CAGR of 28 per cent to Rs 2,422.56 crore in fisc

Asia Pacific home to most 2024 IPO debuts with India taking the lead

Asia equity capital market bankers expect India to remain among the region's most active markets throughout this year

Medi Assist Healthcare fixes price band for IPO at Rs 397- Rs 418

Bids for the offer can be made for a minimum of 35 equity shares and in multiples of 35 thereafter

Main-board IPOs weather global headwinds, collect Rs 52,000-cr in 2023

The capital generated through mainboard IPOs dipped slightly to just over Rs 52,000 crore in 2023 amid global volatility driven by rising interest rates and geopolitical risks, while the number of issues rose. Experts maintain a strong bullish outlook on the IPO market for 2024. Excluding LIC's blockbuster maiden public issue of Rs 20,557 crore in 2022, initial public offering (IPO) collection actually increased by 36 per cent this year. Notably, mid and small-cap companies were in flavor this year, given the considerable tailwind in the markets. The market environment for IPOs has been extremely robust in 2023, though the start of the year was tepid due to global headwinds. "A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers. Another strong pillar of the Indian market ecosystem is the robust yet efficient regulatory framework," said ...

Suraj Estate IPO opens today: Price band at Rs 340 to Rs 360 per share

The shares of Suraj Estate Ltd are available at a premium of Rs 70 in the grey market on Monday, which is Rs 14 higher from its weekend GMP of Rs 56

Wager on IPOs exceeds Rs 1 trn; Doms subscribed 93x, India Shelter 37x

Another half a dozen IPOs open for subscription next week

Cryogenic tank maker Inox India IPO subscribed 2.78 times on debut

The Initial Public Offer (IPO) of cryogenic tank maker INOX India was subscribed 2.78 times on the first day of subscription on Thursday. The Rs 1,459.32 crore IPO received bids for 4,30,88,606 shares against 1,54,77,670 shares on offer, according to NSE data. The category for non-institutional investors received 4.56 times subscription and Retail Individual Investors (RIIs) portion got subscribed 3.59 times. The quota for Qualified Institutional Buyers (QIBs) was subscribed 4 per cent. The IPO of up to 2,21,10,955 equity shares has a price range of Rs 627-660 a share. Inox India Ltd on Wednesday collected Rs 438 crore from anchor investors. Since the issue is completely an Offer for Sale (OFS), the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders. Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation o

Auto component maker Happy Forgings to launch Rs 1,008 crore IPO on Dec 19

Auto components maker Happy Forgings Ltd on Thursday fixed a price band of Rs 808 to 850 per share for its Rs 1,008 crore-Initial Public Offering (IPO). The maiden public issue will open for subscription from December 1921, and the anchor book will be opened for a day on December 18. The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an Offer For Sale (OFS) of up to 71.6 lakh shares by a promoter and a selling shareholder. Paritosh Kumar Garg (HUF) and India Business Excellence Fund III are the selling shareholders in the OFS. Proceeds from the fresh issue will be utilised towards the purchase of equipment, plants, and machinery, the payment of debt and a portion of the funds will also be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers. Investors can bid for a minimum of 17 equity shares and in multiple

Inox India, DOMS Industries among 5 companies to crowd IPO lane this week

The IPO lane is getting crowded as five companies, including India Shelter Finance and DOMS Industries, have lined up public offers this week on favourable market conditions. The other three companies whose maiden public issues are slated to open are Inox Group entity Inox India, Jaipur-based retail jewellery company Motisons Jewellers and Mumbai-based Suraj Estate Developers, according to their Red Herring Prospectus (RHPs). Together, these companies are estimated to raise at least Rs 4,200 crore. This comes on the back of 10 companies successfully concluding their maiden public issues last month. The list included the IPO (Initial Public Offerings) of Tata Technologies, which was the first company from the Tata Group to float an initial share sale in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004. Overall, the Indian IPO market witnessed more than 44 issues that collected around Rs 35,000 crore in the current fiscal FY24 (till November).

Jamshedpur-based Kross files Rs 500 crore maiden IPO papers with Sebi

Kross Ltd -- a specialist in manufacturing forging components for top OEMs -- has filed preliminary papers with capital markets regulator Sebi to raise Rs 500 crore through an Initial Public Offering (IPO). The maiden public issue of the Jamshedpur-based company comprises a fresh issue of shares worth up to Rs 250 crore and an Offer for Sale (OFS) of shares aggregating up to Rs 250 crore by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday. The OFS portion consists of equity shares to the tune of up to Rs 168 crore by Sudhir Rai and Rs 82 crore by Anita Rai. The company may undertake a pre-IPO placement of its securities worth up to Rs 50 crore. If such placement is undertaken, the fresh issue size will be reduced. Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company. Besides, a portion will be used for general corporate

Rupee closes at new low of 83.38 vs $; most Asian currencies weaken

Rupee closed the day at 83.38 against the dollar as compared to previous close of 83.34 per dollar, which is also a previous closing low

Tata Technologies IPO: Check price band, bidding period, and other details

The Tata Technologies Ltd IPO includes a reserved 10 per cent quota for Tata Motors shareholders