Page 39 - Initial Public Offering (ipo)

Gujarat-based Jyoti CNC Automation sets IPO price band at Rs 315-331 apiece

Gujarat-based Jyoti CNC Automation on Thursday said it has fixed a price band of Rs 315-331 per share for its initial public offering (IPO). This will be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The IPO of Jyoti CNC will open for public subscription on January 9 and end on January 11. The anchor book of the offer will be opened for a day on January 8, the company announced. Investors can bid for a minimum of 45 equity shares and in multiples thereof, it said. The company is planning to list its shares for the second time in nearly 10 years. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The company has reserved 75 per cent of the issue size for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail individual investors. Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the compan

Average IPO size hits four-year low in 2023 to Rs 867 crore, shows data

IPO fundraising drops 17% Y-o-Y to 49,434 cr last year

2024 to see surge in new-age tech IPOs as macroeconomic headwinds ease

A total of five companies went public in 2023, up from three the previous year. These include Yatra, Zaggle, Yudiz, IdeaForge, and Mamaearth, with a cumulative issue size of around Rs 3,650 crore

Waaree Energies files IPO papers; plans to raise Rs 3K cr via fresh issue

Solar panel maker Waaree Energies on Friday filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating to Rs 3,000 crore and Offer For Sale (OFS) of 32 lakh equity shares by a promoter and existing shareholders, according to the draft red herring prospectus (DRHP). Those selling shares in the OFS include promoter Waaree Sustainable Finance Private Ltd and shareholders -- Chandurkar Investments Private Ltd and Samir Surendra Shah. Proceeds from the fresh issue will be used for setting up the 6GW (gigawatt) of Ingot Wafer, Solar Cell and Solar PV module manufacturing facility in Odisha. Besides, a portion will be used for general corporate purposes. Waaree Energies, one of the major players in the solar energy industry in India, is focused on PV module manufacturing with an aggregate installed capacity of 12 GW as of June 30, 2023. The Mumbai-based firm has a

Automotive firm Emmforce Autotech files draft papers to raise funds via IPO

Automotive components manufacturer Emmforce Autotech has filed draft papers to raise funds through an initial public offering (IPO). The public issue will be entirely a fresh issue of up to 55,00,000 equity shares, each with a face value of Rs 10, the company said in a statement on Thursday. Post the completion of the IPO, the company's shares are proposed to be listed on the SME Platform of BSE Ltd, a platform for small and medium enterprises, it added. The company proposes to utilise the proceeds from the fresh issue towards investment in its subsidiary, Emmforce Mobility Solutions Pvt Ltd (EMSPL). Proceeds will also be used to meet the working capital requirements of the company, and general corporate purposes, as per the draft red herring prospectus (DRHP). "We are planning to invest proceeds from the IPO in our subsidiary company EMSPL to expand its manufacturing capabilities and cater to untapped territories, including Europe, South America, Africa, the Middle East, Asia Pac

Happy Forgings, RBZ Jewellers, Credo Brands end their debut at premium

Post listing, Happy Forgings commands a market capitalization of Rs 9,701 crore, and it plans to utilize the proceeds of its net issue to purchase plant and machinery and repay its loans

Azad Engineering IPO receives 80.60 times subscription on last day offer

The initial share sale of Azad Engineering received 80.60 times subscription on the last day of offer on Friday. The Initial Public Offer (IPO) got bids for 81,58,60,388 shares against 1,01,22,705 shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) fetched a whopping 179.66 times subscription while the non-institutional investors part received 87.55 times subscription. The category for Retail Individual Investors (RIIs) got subscribed 23.71 times. The IPO had a fresh issue of up to Rs 240 crore and an offer for sale of Rs 500 crore. The IPO had a price range of Rs 499-524 a share. Azad Engineering Ltd on Tuesday said it has collected Rs 221 crore from anchor investors. Proceeds from the fresh issue will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes. Azad Engineering supplies products to global Original Equipment Manufacturers (OEMs) in the aerospace and defence, energy, and oil an

Shri Balaji Valve Components IPO opens Wed: Price band at Rs 95-100/share

Steel products maker Shri Balaji Valve Components on Friday said it has fixed a price band of Rs 95-100 per share for its Initial Public Offering (IPO). The issue will open for public subscription on December 27 and conclude on December 29, the company said in a statement. The public issue is entirely a fresh issue of 21.6 lakh equity shares, it said. At the upper end of the prices, the company aims to raise about Rs 21.60 crore from the public issue. The company's shares are scheduled on the BSE-SME segment. The sole book-running lead manager to the issue is Hem Securities Ltd, while Bigshare Services is the registrar for the IPO. Proceeds from the issue will be utilised in funding capital expenditure towards the installation of additional plants and machines, meeting working capital requirements, and general corporate purposes. Pune-based Shri Balaji Valve Components is into manufacturing of valve components for industries like power, construction, oil and gas, and pharma.

Second best December for IPOs since 1996, 11 companies raise Rs 8,182.7 cr

Six companies have already completed their fundraising process; two were listed on Wednesday.

Innova Captab's IPO to open on Dec 21: Price band at Rs 426-448 per share

Integrated pharmaceutical company Innova Captab on Monday fixed a price band of Rs 426-448 per share for its Rs 570-crore initial public offering (IPO). The issue will open on December 21, and conclude on December 26, the company said. The maiden public issue comprises a fresh issue of equity shares worth up to Rs 320 crore and an offer-for-sale (OFS) of up to 55.80 lakh equity shares by promoters and selling shareholders. Those selling shares in the OFS are -- Manoj Kumar Lohariwala, Vinay Kumar Lohariwala, and Gian Parkash Aggarwal. At the upper end of the price band, the IPO is likely to fetch Rs 570 crore. Proceeds from fresh issuance worth Rs 144.40 crore will be utilised for debt payment, Rs 23.60 crore for investment in the subsidiary UML, and Rs 72 crore for funding working capital requirements. Besides, a portion will be used for general corporate purposes. Half of the issue has been reserved for qualified institutional buyers, 35 per cent for retail investors and the .

India Shelter IPO allotment: How to check status and refund process?

The investors who applied for the issue can check India Shelter IPO allotment status in the registrar's portal, and on the website of stock exchanges, BSE and NSE

Suraj Estate IPO opens today: Price band at Rs 340 to Rs 360 per share

The shares of Suraj Estate Ltd are available at a premium of Rs 70 in the grey market on Monday, which is Rs 14 higher from its weekend GMP of Rs 56

Suraj Estate IPO opens today: Price band at Rs 340 to Rs 360 per share

The shares of Suraj Estate Ltd are available at a premium of Rs 70 in the grey market on Monday, which is Rs 14 higher from its weekend GMP of Rs 56

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