Page 52 - Initial Public Offerings Ipos

KRN Heat Exchanger files draft papers with Sebi to raise funds via IPO

KRN Heat Exchanger and Refrigeration Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO). The initial share sale is entirely a fresh issue of 1.93 crore equity shares with no Offer for Sale (OFS) component, draft red herring prospectus (DRHP) filed with Sebi showed on Thursday. Funds will be used for investment in wholly-owned subsidiary KRN HVAC Products for setting up a new manufacturing facility at Neemrana, Alwar, in Rajasthan. The company manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry. According to the Dun and Bradstreet Research Report, the Indian market for heat exchanges reached USD 625 million per annum in 2022, with an annual industry turnover increasing by a CAGR of 10 per cent between 2019 and 2022. Holani Consultants is the sole book-running lead manager to the issue.

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

TAC Security plans to go public this year, aims Rs 100 cr turnover by 2026

Global cyber security firm TAC Security on Monday announced its plan to go public this year and raise funds from the capital market to expand its operation with an aim to increase its turnover to Rs 100 crore by 2026. SaaS (Software as a service) firm TAC Security, founded by entrepreneur Trishneet Arora in 2013, is one of the leading players in cybersecurity. TAC Security, a pioneer in risk and vulnerability management worldwide, is eyeing a revenue of Rs 100 crore by 2026, a company statement said. However, the company did not disclose its current turnover. According to the statement, the company is aggressively exploring capital-raising options, including an initial public offering (IPO) in early 2024. Beeline Capital Advisors Private Ltd has been appointed the exclusive book-running lead manager for the proposed IPO. TAC Security CEO Arora said, "We are now embarking on our next growth stage, aiming for a nearly ten-fold increase in revenues by FY26 through organic growth and

Solar manufacturer Waaree Energies files DRHP for Rs 3,000 cr IPO

Waaree Energies is the first solar manufacturer to go for initial public offering

Box office recovery, synergies could drive more gains for PVR-Inox

Given the promise of further operational gains from the merger synergies, there is the promise of reasonable visibility of margins

FirstCry's parent firm files DRHP; to raise Rs 1,816 crore via fresh issue

The Supam Maheshwari-led company proposes to utilise net proceeds from the offer towards funding the expenditure for setting up new modern stores, a warehouse and lease payments

Ola to use Rs 1,226 cr of IPO proceeds on boosting cell manufacturing unit

IPO-bound Ola Electric Mobility Ltd plans to utilise Rs 1,226.43 crore out of the proceeds of its Rs 5,500-crore public issue on capacity expansion of its cell manufacturing plant to 6.4 GWh from 5 GWh, according to preliminary papers filed by the company with capital markets regulator Sebi. The company, which had filed the draft red herring prospectus (DRHP) last week is also looking to use Rs 1,600 crore from the public fund raising on research and product development, while another Rs 800 crore will be deployed to repay debt. Ola Electric Mobility (OEM) which had on August 15, 2023 announced a line-up of electric motorcycles -- Cruiser, Adventure, Roadster and Diamondhead -- expects to begin delivery of the motorcycles in the first half of fiscal 2026. In its DRHP, the company said the Phase 1 (a) and Phase 1 (b) of the set up and expansion of the Ola Gigafactory at Krishnagiri district in Tamil Nadu will be funded from internal accruals and long term borrowings availed by its ar

SoftBank sells shares worth $310 mn in omnichannel retailer FirstCry

Japanese conglomerate SoftBank has sold shares worth USD 310 million in omnichannel retailer FirstCry, which is likely to file a draft paper for IPO this week, sources said on Monday. "SoftBank recently sold shares worth Rs 630 crore in FirstCry. It was picked up by a few high net worth individuals. With this sale, SoftBank has realised USD 310 million from two rounds of stake sale in FirstCry," a source told PTI. The source said that the sale values FirstCry in the range of USD 3.5-3.75 billion. SoftBank had invested USD 400 million in FirstCry at an enterprise valuation of USD 900 million. Another source said that SoftBank is still left with shares valued in the range of USD 800-900 million which it will sell later. "SoftBank is looking to make around USD 1.3 billion from the investment made in FirstCry," the source said. Email query sent to SoftBank elicited no response in this regard.

Ola Electric's Rs 5,500 cr IPO to bolster its EV market, say experts

There are two discernible trends in the competitive electric two-wheeler market

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.

India's IPO momentum seen growing on prospects of political stability

India's share of global IPO proceeds is at an all-time high of 5.98%, Dealogic says, almost doubling in 2 years, while its share of Asia IPO proceeds has also grown to 9.9% this year from 5.9% in 2018

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

Cryogenic tank maker Inox India IPO subscribed 2.78 times on debut

The Initial Public Offer (IPO) of cryogenic tank maker INOX India was subscribed 2.78 times on the first day of subscription on Thursday. The Rs 1,459.32 crore IPO received bids for 4,30,88,606 shares against 1,54,77,670 shares on offer, according to NSE data. The category for non-institutional investors received 4.56 times subscription and Retail Individual Investors (RIIs) portion got subscribed 3.59 times. The quota for Qualified Institutional Buyers (QIBs) was subscribed 4 per cent. The IPO of up to 2,21,10,955 equity shares has a price range of Rs 627-660 a share. Inox India Ltd on Wednesday collected Rs 438 crore from anchor investors. Since the issue is completely an Offer for Sale (OFS), the Vadodara-based company will not receive any proceeds and all the funds will go to the selling shareholders. Inox India, one of the leading cryogenic tank manufacturers, has over 30 years of experience offering solutions across the design, engineering, manufacturing, and installation o

DOMS Industries IPO receives 15.16 times subscription on day two of offer

The initial share sale of pencil maker DOMS Industries received 15.16 times subscription on the second day of offer on Thursday. The Rs 1,200 crore Initial Public Offer (IPO) received bids for 13,39,90,938 shares against 88,37,407 shares on offer, according to data available with the NSE. The Retail Individual Investors (RIIs) part received 41.07 times subscription while the quota for non-institutional investors got subscribed 25.77 times. The category for Qualified Institutional Buyers (QIBs) got subscribed 1.18 times. The IPO has a fresh issue of up to Rs 350 crore and an offer for sale component of Rs 850 crore. Price range for the offer is Rs 750-790 a share. The IPO of DOMS Industries got fully subscribed within hours of opening for bidding on Wednesday and finally ended the day with 5.71 times subscription. DOMS Industries has raised Rs 538 crore from anchor investors. Funds raised through the fresh issue would be used for setting up a new manufacturing facility to expand

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

Indian startups' funding winter persists, 72% decline in 2023: Report

The report highlighted that the funding declined across all stages, with late-stage funding dropping over 73%. Strong IPO momentum, and investors' interest in space tech were a silver lining

Sequoia-backed mobile wallet Mobikwik selects banks for $84 million IPO

The Gurugram-based fintech firm is working with DAM Capital Advisors Ltd and SBI Capital Markets Ltd for preparations for its listing