SK Finance gets IPO approval; Baazar Style booked 4.64x on second day

SK Finance, Transrail Lighting get approval to go public

Vehicle finance and non-bank lender SK Finance, Muthoot Finance's microfinance arm Belstar Microfinance, and Transrail Lighting have received Sebi’s go ahead to float initial public offerings (IPOs), an update with markets regulator showed on Monday. The three companies, which filed their preliminary IPO papers with Sebi during March-May, obtained their observation letters on August 30. In Sebi's parlance, obtaining an observation letter from the regulator means its go ahead to launch public issues.

Gala Precision Engineering fully subscribed on Day 1

The initial public offering (IPO) of Gala Precision Engineering got fully subscribed within minutes of opening for bidding on Monday. The initial share sale received bids for 47,77,444 shares against 22,23,830 shares on offer, reflecting 2.15 times subscription, according to the NSE data till 11:21 hours. The portion for retail individual investors (RIIs) garnered 3.15 times subscription while the quota for non institutional investors got subscribed 2.54 times.The initial share sale will conclude on September 4.   

Shree Tirupati Balajee Agro’s public offer to open on Sep 5

Shree Tirupati Balajee Agro Trading Company on Monday fixed a price band of Rs 78-83 per share for its nearly Rs 170 crore initial share sale. The initial public offering (IPO) will open for public subscription on September 5 and conclude on September 9, the company said in a statement. The IPO consists of a fresh issue of 1.47 crore equity shares and an offer for sale (OFS) of up to 5.69 million equity shares by Binod Kumar Agarwal. The IPO size has been pegged at Rs 169.65 crore. 

Baazar Style booked 4.64x on second day of offer

The initial public offering (IPO) of Rekha Jhunjhunwala-backed value fashion retailer Baazar Style Retail received 4.64 times subscription on Monday, the day two of bidding. The initial share sale received bids for 6,96,80,144 shares against 1,50,30,116 shares on offer, according to the NSE data. The non-institutional investors part received 11.62x subscription while the category for Retail Individual Investors (RIIs) was booked 3.75 times. The quota for Qualified Institutional Buyers got subscribed 84 per cent.