Through the IPO, Happiest Minds was looking to raise Rs 110 crore in fresh capital
The net proceeds of the offer will be utilised to meet the long term working capital requirement of the company.
The management said the fundraising will be used to meet immediate working capital requirements while the cash balance in the balance sheet will be kept aside for strategic initiatives
Despite supportive markets, August saw no new offerings
Issue involves fresh fundraise of Rs 1,000 cr and Rs 750 cr secondary share sale by promoter T S Kalyanaraman and PE firm Warburg Pincus
Prime Minister Narendra Modi's government is keen to go ahead with the initial public offering -- potentially India's biggest -- to help plug a widening budget gap.
The last company to list following an IPO was SBI Cards on March 16
Rossari is the first IPO to hit the domestic markets since a national lockdown was declared in early-March.
Analysts at Choice Broking remain positive on the company's prospects on hopes that India could compete with China to become a global manufacturer in the post Covid-19 era
Rossari has reduced the fresh issue component from Rs 150 crore to Rs 50 crore
The advisors can submit their bids beginning Friday, till July 13, 2020. The bids would be opened by DIPAM on July 14
A look at LIC's journey since being set up under the LIC Act of 1956 to understand why it continues to control the bulk of India's insurance market even 20 years after its monopoly ended
For a third year in a row, exits accounted for over 80% of total proceeds
SEBI issued the final observations to the lenders proposal on March 20, 2020.
Valuation computations for proposed deals go awry
The SBI Cards IPO is one of the largest share sale in recent times, both in terms of size and oversubscription
Regulators, bankers in a huddle to resolve issue
Antony Waste IPO comprises of Rs 35 crore of fresh fund raising and Rs 171 crore of secondary share sale
At the top-end, the stock is valued at 46x its earnings for the first nine months of 2019-20.
The company will offer fresh shares worth Rs 35 crore and will offer 57 lakh equity shares under Offer For Sale (OFS) category for reduction of the aggregate consolidated outstanding borrowings.