Ratnaveer Precision up 37%, Fintech Zaggle sets price band of Rs 156-164

Ratnaveer Precision surges 37% on debut

Shares of Ratnaveer Precision Engineering rose 37 per cent during their stock market debut on Monday. Shares of the company closed at Rs 134.4, up Rs 36.4, or 37 per cent, over its issue price of Rs 98. Ratna­veer’s Rs 165-crore initial public offering (IPO) had garnered over 90 times subscription. Meanwhile, shares of Rishabh Instruments, which also made their stock market debut, finished just 0.4 per cent higher than its issue price. The stock closed at Rs 442.7 versus the issue price of Rs 440. Rishabh’s Rs 491-crore IPO was subscribed nearly 30 times. BS REPORTER

Fintech Zaggle sets price band of Rs 156-164 

Fintech player Zaggle Prepaid Ocean Services on Monday set the price band for its Rs 564 crore-initial share sale at Rs 156-164 apiece, a hefty 156-164 times of the face value of its shares. The initial public offering (IPO), which is opening on September 14, comprises a fresh issue of equity shares up to Rs 392 crore and an offer for sale (OFS) by promoters and a few external investors aggregating up to Rs 174 crore. Post-issue the promoter/promoter entities will hold around 42 per cent of the paid up equity, while selling shareholders will collectively pare their holdings by a tad over 8 per cent. pti

Samhi Hotels’ Rs 1,370 cr offer to open on Sep 14

Samhi Hotels on Monday fixed the price band for its Rs 1,370-crore primary share sale that opens on Thursday at Rs 119-126 per share, which is 119-126 times its face value. The public issue comprises Rs 1,200 crore of fresh issue and an offer for sale (OFS) of up to Rs 170 crore at the upper end of the price band, Gurugram-based Samhi Hotels said in a statement.

In a pre-IPO placement, external investor Blue Chandra had sold 10.32 million shares or 8.4 per cent of its stake to renowned investor Madhusudan Kela's wife Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total consideration of Rs 130 crore. Samhi acquires/builds primary hotels and thereafter renovates, rebrands and rerates the property and runs it. In 13 years into business, it has added 369 keys in FY23 to bec­ome the third largest hotel owner by nu­mber of keys, taking the total number of keys to 4,800 across 31 operating hotels, which include its latest acquisition of ACIC last month. pti