Ratnaveer Precision subscribed 94 times, Jupiter Lifeline raises Rs 261 cr

Ratnaveer Precision Engineering subscribed 94 times

The initial public offering (IPO) of Ratnaveer Precision Engineering was subscribed 94 times on Wednesday, the concluding day of the issue. The institutional investor portion was subscribed 133 times, the high net worth individual portion was subscribed 135 times, and the retail investor portion was subscribed 54 times. The company had priced its IPO between Rs 93 and 98. The Rs 165 crore comprised a fresh issue of Rs 135.24 crore and an offer for sale worth Rs 29.79 crore. Ratnaveer Precision Engineering is a stainless steel (SS) product manufacturer that produces finished sheets, washers, solar roofing hooks, pipes and tubes.

Jupiter Lifeline Hospital subscribed 87% on day 1

The initial public offering (IPO) of Jupiter Lifeline Hospitals was subscribed 87 per cent on Wednesday, the first day of the issue. The institutional investor portion was subscribed by 1 per cent, the high net worth individual portion by 1.4 times, and the retail investor portion by 1.1 times. On Tuesday, the company had raised Rs 261 crore from anchor investors. The IPO was priced between Rs 695 and 735 per share. The Rs 869 crore IPO comprises a fresh issue portion of Rs 542 crore and an offer for sale of Rs 327 crore.

Old Bridge gets Sebi nod for MF business

Kenneth Andrade-founded Old Bridge Capital Management has obtained final approval from market regulator Sebi to commence its mutual fund (MF) operations. At present, Old Bridge is a provider of portfolio management services and alternative investment funds. "We will soon be launching our maiden actively-managed equity scheme," said Andrade, a popular money manager. "As we move forward with our newly acquired licence, we remain committed to providing investors with long-term investment solutions on its mutual funds platform as well," he said.