Page 37 - Initial Public Offering (ipo)

India Shelter Finance booked 4.34x; Credo Brands' IPO to open on Dec 19

Credo Brands Marketing Ltd, which owns denim brand Mufti, on Thursday fixed the price band at Rs 266-280 a share for its Rs 550-crore initial public offering (IPO)

Inox India secures Rs 438 crore from anchor investors ahead of IPO

Cryogenic tank maker Inox India Ltd on Wednesday collected Rs 438 crore from anchor investors, a day before its initial public offering (IPO). The company has allotted 66.33 lakh equity shares to 41 funds at Rs 660 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website. The investors participated in the anchor book include Abu Dhabi Investment Authority, Nomura, Goldman Sachs, ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, SBI Mutual Fund (MF), HDFC MF, Nippon India MF, Axis MF, Aditya Birla Sun Life MF and Tata MF. The maiden public issue, with a price band of Rs 627 to Rs 660 per share, will open for subscription on December 14 and conclude on December 18. The Rs 1,459-crore initial share sale of Inox Group entity's InoxCVA is entirely an offer for the sale of 2.21 crore shares by its existing shareholders and promoters. Since the issue is completely an OFS, the Vadodara-based company will not receive any

Muthoot Microfin to launch Rs 960 crore maiden IPO on December 18

Muthoot Microfin, the microfinance subsidiary of Muthoot Pappachan group, is set to float its Rs 960 crore initial public offering (IPO) on December 18. The maiden public issue will conclude on December 20 and the one-day bidding for the anchor investors will open on December 15, according to the red herring prospectus (RHP). The microfinance institution's initial share sale comprises a fresh issue of equity shares worth Rs 760 crore and an offer for sale (OFS) aggregating up to Rs 200 crore. Those selling shares through the OFS are -- Greater Pacific Capital WIV Ltd and promoters -- Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas and Nina George. The company plans to use proceeds from the fresh issue for augmenting its capital base, to meet future capital requirements. Delhi-based Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan group. ICICI ...

Inox India, DOMS Industries among 5 companies to crowd IPO lane this week

The IPO lane is getting crowded as five companies, including India Shelter Finance and DOMS Industries, have lined up public offers this week on favourable market conditions. The other three companies whose maiden public issues are slated to open are Inox Group entity Inox India, Jaipur-based retail jewellery company Motisons Jewellers and Mumbai-based Suraj Estate Developers, according to their Red Herring Prospectus (RHPs). Together, these companies are estimated to raise at least Rs 4,200 crore. This comes on the back of 10 companies successfully concluding their maiden public issues last month. The list included the IPO (Initial Public Offerings) of Tata Technologies, which was the first company from the Tata Group to float an initial share sale in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004. Overall, the Indian IPO market witnessed more than 44 issues that collected around Rs 35,000 crore in the current fiscal FY24 (till November).

The Modi premium

Economic growth, which we are taking for granted, slows for a completely different set of local or global factors and the Modi premium vanishes

Despite secondary market volatility, IPO charm is here to stay: Analysts

Any price-wise correction in the broader markets, which has seen maximum number of companies hitting the Street this may, may 'temporarily' halt the primary market buzz

Ahead of IPO, Mamaearth sold excess stock of its products to distributors

Around 70 distributors in Maharashtra and Goa are sitting on 90 days of inventory

Wager on four IPOs exceeds Rs 2 trn; Tata Tech subscribed nearly 70 times

Tata Tech offering races past LIC with a record 7.33 million applications

Tata Technologies IPO: Check price band, bidding period, and other details

The Tata Technologies Ltd IPO includes a reserved 10 per cent quota for Tata Motors shareholders

Tata Technologies IPO: Details of public offer opening on November 22

The Tata Technologies IPO will be open for bidding from November 22, and will conclude November 24

Flair Writing IPO to open on Nov 22; sets price band at Rs 288-304/share

Pen maker Flair Writing Industries Ltd has set a price band of Rs 288-304 a share for its Rs 593-crore initial public offering (IPO), market sources said on Friday. The maiden public issue will open for subscription on November 22 and conclude on November 24 and the anchor book of the offer will be opened for a day on November 21, they added. As per the red herring prospectus (RHP), Flair Writing's IPO comprises a fresh issue of equity shares aggregating up to Rs 292 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 301 crore by promoters and promoter group entities. At present, promoters and promoter group entities own 100 per cent stake in the company. Proceeds of the fresh issue will be used for setting up a manufacturing facility for writing instruments at Valsad district in Gujarat; funding the company's capital expenditure and subsidiary Flair Writing Equipments Pvt Ltd (FWEPL). Besides, the proceeds will be used to support the working capital requirements of

Fedbank Financial Services IPO to open on Nov 22 at Rs 133-140 per share

At the upper end of the price band, the Federal Bank-promoted company will mop up Rs 1,092.26 crore

Tata Technologies sets Rs 475-500 as price band for Rs 3,043-crore IPO

According to reports, the price is about about 47 per cent lower than its price in the unlisted market where the stock currently trades at Rs 950 per share

Mamaearth IPO sails through despite falling GMP, low retail interest

At 2:20 PM, the issue was subscribed 5.6 times (5.6x) with QIB portion seeing subscription of 9.4x, followed by Employee portion at 4.34x. Retail investor portion stood at 91 per cent

Street Signs: Nifty's 19,300-19,800 range, IPO pot to keep boiling & more

With less than four months left for the review period to complete for the March rebalancing of the National Stock Exchange (NSE) Nifty indices

Azad Engineering Ltd submits application for Rs 740 cr IPO with Sebi

Azad Engineering Ltd has filed draft papers with capital markets regulator Sebi to raise Rs 740 crore through an initial public offering (IPO). The company's IPO comprises a fresh issue of up to Rs 240 crore and an offer-for-sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors, according to the draft red herring prospectus (DRHP). The OFS consists of the sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, equity shares worth up to Rs 280 crore by Piramal Structured Credit Opportunities Fund and equity shares to the tune of up to Rs 50 crore by DMI Finance. Proceeds from the fresh issues will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes, as per the draft papers filed on Friday. Azad Engineering is one of the key manufacturers of their qualified product lines supplying global original equipment manufacturers (OEMs) in the aerospace and defence, energy, and oil an

Popular Vehicles and Services Ltd files IPO papers with Sebi again

Popular Vehicles and Services Ltd, which is engaged in automotive dealerships, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share sale. This is the company's second attempt to go public. Earlier, the company filed draft papers with the Securities and Exchange Board of India (Sebi) in August 2021 for floating an Initial Public Offering (IPO) but deferred the maiden public issue amid uncertain market conditions. According to the Draft Red Herring Prospectus (DRHP) filed on Thursday, the IPO comprises fresh issuance of equity shares worth Rs 250 crore and an Offer For Sale (OFS) of 1.42 crore equity shares by Banyantree Growth Capital II, LLC. Besides, the company is looking to raise Rs 50 crore in a pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced. Proceeds of the fresh issue will be used for payment of debt and general corporate purposes. The Kerala-based company is a leading divers

China's unexpected trading tax cut forces Hong Kong into hard choice

The aggressive moves by Beijing to support markets are speeding up plans for Hong Kong to come up with its own measures to revive activity of trading and initial public offerings

5 rules to change from 1st September 2023, here's all you need to know

Five significant changes are going to take place from the first day of September 2023. These changes will directly affect your pocket, and it is important to know these changes

Rishabh Instruments' IPO to open on Aug 30; price band fixed Rs 418-441

Global energy efficiency solution company Rishabh Instruments Ltd on Friday said it has fixed a price band of Rs 418-441 per share for its Rs 491-crore initial public offering (IPO). The maiden public issue will open for subscription on August 30 and close on September 1, the company announced. The IPO comprises a fresh issue of equity shares aggregating up to Rs 75 crore and an offer for sale (OFS) for up to 94.3 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP). Asha Narendra Goliya, Narendra Rishabh Goliya (HUF), Rishabh Narendra Goliya, and SACEF Holdings II will offload shares of the company in the OFS. Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes. The company through its IPO will fetch Rs 469.10 crore - Rs 490.78 crore at the lower and upper end of the price band, ...