Page 23 - Initial Public Offering (ipo)

Swiggy seeks valuation of $11.3 billion; IPO to open on Wednesday

Food delivery and quick-commerce major Swiggy, which is coming out with its initial public offering (IPO) on Wednesday, is seeking a valuation of about USD 11.3 billion. The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which will comprise a fresh issue of shares worth Rs 4,499 crore along with an offer for sale (OFS) of Rs 6,828 crore. Swiggy has set a price band of Rs 371 to Rs 390 per share for its maiden public issue. The issue will open for public subscription on November 6 and conclude on November 8. Speaking about the pricing, Swiggy Food Marketplace CEO Rohit Kapoor said, "We feel we have priced it right and we are looking forward to the next few days." The valuation of Swiggy has been pegged at about USD 11.3 billion (about Rs 95,000 crore) at the upper price band. Rival Zomato, which went public in July 2021, has a market valuation of Rs 2.13 lakh crore. "Our pricing is in the range of Rs 371-390 which corresponds to a value of about USD 11.3

Reliance Jio IPO worth $100 bn set for 2025, retail to debut much later

Reliance Jio is set to lock horns with Elon Musk if he launches his Starlink internet service in India

Ahead of IPO, Sagility India collects Rs 945 cr from anchor investors

Sagility India Ltd, a technology-enabled services provider in the healthcare services space, on Monday said it has mobilised over Rs 945 crore from anchor investors, a day before its initial share-sale opening for public subscription. Nomura Funds Ireland, Government Pension Fund Global, Florida Retirement System - Allspring Global Investments, LLC (EMSC), Amundi Funds New Silk Road, and Goldman Sachs (Singapore) Pte are among the top anchor investors, according to a circular uploaded on the BSE website. Additionally, ICICI Prudential Mutual Fund (MF), HDFC MF, Motilal Oswal MF, Max Life Insurance Co Ltd, and ICICI Prudential Life Insurance Company have participated in the anchor round. As per the circular, Sagility India has allotted 31.51 crore equity shares to 52 funds at Rs 30 apiece. This aggregates the transaction size to Rs 945.40 crore. Of the total allocation of shares to the anchor investors, 11.84 crore were allocated to eight domestic mutual funds through 26 schemes. T

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP). Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd. Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. The company may raise up to Rs 180 crore through a Pre-IPO Placement. If the placement is undertaken, the issue size will be reduced. Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises Lt

HDB Financial, a unit of HDFC Bank, files for Rs 12,500 crore IPO

HDFC Bank, which holds a 94.6 per cent stake in the lender, will sell shares worth up to Rs 10,000 crore, while HDB Financial will issue fresh shares worth up to Rs 2,500 crore

Swiggy unfazed by urban demand slump, launches Rs 11,330 cr share sale

Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. "We are also reading about it, but we are not seeing that yet in the business... So far, we have not seen the impact of demand on our business," its chief financial officer Rahul Bothra said. The issue comes amid a series of IPOs in the recent past including South Korean car maker Hyundai's mega Rs 28,000-crore issue. It will make Swiggy the second major food delivery app after Zomato to go public. Bothra said it is possible that the company which claims to have 14 million users serves only a small part of the consumer base, unlike fast moving consumer .

India's biggest IPOs of 2024: Swiggy, Ola, Hyundai Motor India, more

About 270 companies have raised over $12.57 billion through IPOs in India so far this year, well above the $7.4 billion raised in all of 2023, LSEG data shows

Swiggy IPO ups primary fundraise to Rs 4,499 cr, cuts secondary share sale

Food and grocery delivery company expected to announce its IPO price band on Wednesday

Afcons Infrastructure IPO subscribed 2.63 times on last day of share sale

The initial public offer of Shapoorji Pallonji Group's flagship infrastructure engineering and construction firm Afcons Infrastructure got fully subscribed on the last day of share sale on Tuesday and ended with 2.63 times subscription. The Rs 5,430-crore initial share sale received bids for 22,78,13,728 shares against 8,66,19,950 shares on offer, as per NSE data. The category for non-institutional investors received 5.05 times subscription while the quota for Qualified Institutional Buyers (QIBs) got subscribed 3.79 times. The portion meant for Retail Individual Investors (RIIs) got 94 per cent subscription. Afcons Infrastructure Ltd (AIL) on Thursday said it has mopped up Rs 1,621 crore from anchor investors. The price band has been fixed at Rs 440-463 per share. The IPO is a combination of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech Pvt Ltd. The Maharashtra-based company will utilise Rs 80 crore

NTPC share gains 3% as Sebi okays NTPC Green Energy's Rs 10,000-cr IPO

The rise in NTPC share price came after the market regulator Securities and Exchnage Board of India (Sebi) approved NTPC Green Energy's initial public offering (IPO)

Afcons Infrastructure IPO gets subscribed 36% on second day of offer

The initial public offering (IPO) of Shapoorji Pallonji Group's flagship infrastructure engineering and construction firm Afcons Infrastructure received 36 per cent subscription on the day two of the share sale on Monday. The initial share sale received bids for 3,15,57,920 shares against 8,66,19,950 shares on offer, as per NSE data. The portion for non-institutional investors fetched 72 per cent subscription while the category for retail individual investors (RIIs) got subscribed 36 per cent. The qualified institutional buyers (QIBs) part received 8 per cent subscription. Afcons Infrastructure Ltd (AIL) on Thursday said it has mopped up Rs 1,621 crore from anchor investors. The Rs 5,430-crore IPO will remain open till Tuesday. The price band has been fixed at Rs 440-463 per share. The IPO is a combination of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech Pvt Ltd. Currently, promoter and promoter grou

NTPC Green Energy, Avanse Financial Services get Sebi's nod to float IPOs

NTPC Green Energy -- the renewable energy arm of NTPC, and Avanse Financial Services Ltd -- an education-focused NBFC, has received Sebi's go-ahead to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Monday. NTPC Green Energy and Avanse Financial Services are looking to garner Rs 10,000 crore and Rs 3,500 crore through initial share-sales, respectively. The two companies, which filed their preliminary IPO papers with Sebi between July and September, obtained their observations during October 22-23, the update showed. In Sebi's parlance, obtaining observations means its go-ahead to float the public issue. NTPC Green Energy's initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP). Of the total proceeds, Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans

Market mystery: Why retail investors shun some of the biggest IPOs

Hyundai Motors India's listing is the latest in a trend seen over the years

Market mystery: Why retail investors shun some of the biggest IPOs

Hyundai Motors India's listing is the latest in a trend seen over the years

Ahead of IPO, Afcons Infra collects Rs 1,621 cr from anchor investors

Shapoorji Pallonji Group's flagship infrastructure engineering and construction firm Afcons Infrastructure Ltd (AIL) on Thursday said it has mobilised Rs 1,621 crore from anchor investors, a day before its initial share sale opening for public subscription. Foreign and domestic institutions participated in the anchor book include HDFC Mutual Fund (MF), ICICI Prudential MF, BlackRock, Fidelity Investments, Goldman Sachs, HSBC Group, Nomura, Nippon India MF, Enam Holdings, Mirae MF, Quant MF, Invesco MF, Eastbridge, Amundi, Invesco HK and SBI General Insurance. The company has allocated over 3.5 crore equity shares to 80 funds at Rs 463 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 1,621.5 crore, according to a circular uploaded on BSE's website. Of 3.5 crore equity shares, 1.17 crore equity shares worth Rs 542.2 crore were allocated to 15 domestic mutual funds through a total of 31 schemes. This accounts for 33.44 per cent of the .

Godavari Biorefineries IPO gets subscribed 54% on second day of offer

The initial public offer of ethanol and bio-based chemicals maker Godavari Biorefineries Ltd subscribed 54 per cent on day two of bidding on Thursday. The initial share sale received bids for 60,89,832 shares against 1,12,74,739 shares on offer, as per NSE data. The portion meant for retail individual investors (RIIs) received 96 per cent subscription, while the quota for non-institutional investors got subscribed 26 per cent. Godavari Biorefineries Ltd on Tuesday said it has raised over Rs 166 crore from anchor investors. The initial share sale is a combination of a fresh issue of equity shares worth Rs 325 crore and an offer-for-sale (OFS) of 65.27 lakh equity shares valued at Rs 230 crore at the upper end of the price band by promoters and an investor. This translates into the total IPO size of Rs 555 crore. Private equity firm Mandala Capital AG Ltd is offloading 49.27 lakh shares through the OFS route. The price range for the offer is Rs 334 to Rs 352 per share. Proceeds fr

Swiggy cuts valuation target for IPO to $12.5-13.5 bn due to mkt volatility

Swiggy was earlier targeting a $15 billion valuation for its $1.4 billion November IPO which will be the country's second biggest stock offering this year, behind Hyundai India's debut this week

Deepak Builders' IPO gets subscribed 41.54 times on last day of offer

The initial public offer of engineering and construction company Deepak Builders & Engineers India Ltd received 41.54 times subscription on the last day of the share sale on Wednesday. The Rs 260 crore share sale got bids for 37,24,76,076 shares against 89,67,061 shares on offer, according to an update on the NSE. The non-institutional investors part fetched 82.47 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 39.79 times. The portion for Qualified Institutional Buyers (QIBs) attracted 13.91 times subscription. The Initial Public Offer (IPO) of Deepak Builders & Engineers India Ltd received 4.12 times subscription on the first day of the share sale on Monday. The IPO has a fresh issue of up to 1.07 crore equity shares and an offer for sale of up to 21,10,000 equity shares. The price range for the offer is fixed at Rs 192-203 per share. Fedex Securities Private Ltd is the book-running lead manager to the offer.

Godavari Biorefineries IPO gets subscribed 27% on first day of bidding

The initial public offer of ethanol and bio-based chemicals maker Godavari Biorefineries Ltd got subscribed 27 per cent on the first day of bidding on Wednesday. The initial share sale received bids for 30,45,042 shares, as against 1,12,74,739 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 48 per cent subscription, while the portion meant for non-institutional investors got subscribed 12 per cent. Godavari Biorefineries Ltd on Tuesday said it has raised over Rs 166 crore from anchor investors. The initial share sale is a combination of fresh issue of equity shares worth Rs 325 crore and an Offer-for-Sale (OFS) of 65.27 lakh equity shares valued Rs 230 crore, at the upper-end of the price band, by promoters and an investor. This translates into the total IPO size of Rs 555 crore. Private equity firm Mandala Capital AG Ltd is offloading 49.27 lakh shares through the OFS route. Price range for the offer is Rs 334 to Rs 352 per ...

A bumpy ride: Hyundai Motor India's listing could be an indicator

The festival season often sees retail investors pulling back from the stock market as they become more focused on consumption rather than investment