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Consumer electronics retailer Sathya Agencies Ltd has filed preliminary papers with markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares aggregating to Rs 300 crore and an offer for sale (OFS) of equity shares worth Rs 300 crore by promoters, taking the total offer size to Rs 600 crore, according to the draft red herring prospectus (DRHP) filed on Monday. The OFS includes the sale of shares by promoters -- Johnson Asaria, J John Sathya and Charles Packiaraj. Each of them will offload equity shares valued at Rs 100 crore. The Tamil Nadu-based company proposes to utilise the proceeds from the fresh issue towards repayment or prepayment of certain borrowings, payment of partial purchase consideration for the acquisition of its subsidiary Unilet Appliances Private Limited, and for general corporate purposes. Also, the company expects that listing of its equity shares will enhance its visibility
Rentomojo Ltd, an online rental and subscription platform for home furniture and appliances, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 150 crore and an offer-for-sale (OFS) of up to 2,83,99,567 equity shares by existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Friday. The company proposes to utilise the proceeds from the fresh issue towards payment of debt, lease rentals or licence fees for its warehouses and experience stores, and for general corporate purposes. Founded by Geetansh Bamania, the company operates a technology-driven, full-stack direct-to-consumer (D2C) platform offering rental and subscription services for furniture and home appliances across India. Rentomojo is the largest player in the organised online rental segment for furniture and appliances, with an estimated market sh
Central Mine Planning and Design Institute (CMPDIL), an arm of state-owned Coal India, on Wednesday said it has mobilised Rs 470 crore from anchor investors, ahead of its initial share-sale opening for public subscription. Life Insurance Corporation (LIC), Nippon India Mutual Fund (MF), Edelweiss MF, ICICI Prudential MF, Baring Private Equity India Fund, General Insurance Corporation of India and Edelweiss Life Insurance Corporation are among the anchor investors, according to a circular uploaded on BSE's website. Also, Societe Generale, Citigroup, Goldman Sachs and BNP Paribas Financial Markets participated in the anchor round. As per the circular, the state-owned firm allotted 2.73 crore equity shares to 22 funds at Rs 172 per piece, aggregating the transaction size to Rs 469.74 crore. Of these funds, LIC has been allocated shares to the tune of Rs 105 crore. CMPDIL's Rs 1,842-crore initial public offering (IPO) will open for subscription on March 20 and conclude on March 24. T
The initial public offer of Rajputana Stainless Ltd, a manufacturer of long and flat stainless-steel products, got subscribed 30 per cent on the first day of bidding on Monday. The IPO received bids for 63,04,430 shares, as against 2,09,00,000 shares on offer, as per NSE data. The category for Qualified Institutional Buyers (QIBs) received 99 per cent subscription, while the quota for non-institutional investors fetched 65 per cent subscription. The portion for Retail Individual Investors (RIIs) got subscribed 4 per cent. The initial public offer has a fresh issue of up to 1,46,50,000 equity shares and an offer-for-sale of up to 62,50,000 equity shares. Price range for the offer has been fixed at Rs 116-122 per share. The IPO will conclude on Wednesday. Rajputana Stainless has raised Rs 10 crore from anchor investor Shine Star Build Cap. The firm manufactures a range of stainless-steel products, including billets, forging ingots, rolled black bars, rolled bright bars, flats, pat