Page 53 - Initial Public Offerings Ipos

Radiant Cash Management Services IPO subscribed 11% on second day

The initial public offer of Radiant Cash Management Services was subscribed 11 per cent on the second day of subscription on Monday. The initial share-sale received bids for 29,76,450 shares against 2,74,29,925 shares on offer, as per NSE data. The category meant for Qualified Institutional Buyers (QIBs) was subscribed 16 per cent, while the portion for Retail Individual Investors (RIIs) received 12 per cent subscription and non-institutional investors 3 per cent. The Initial Public Offer (IPO) has a fresh issue of up to Rs 60 crore and an offer for sale of up to 33,125,000 equity shares. The price range for the offer is at Rs 94-99 a share. Based on the upper band of the share price, the IPO is expected to fetch Rs 388 crore. IIFL Securities, Motilal Oswal Investment Advisors and YES Securities are the managers to the offer.

After this year's IPO slump, bankers are now wary of relief in 2023

A mix of rising inflation and interest rate hikes aimed at taming it have hurt stock market valuations and eroded investor appetite for the high-growth IPO candidates that have driven deals

Abans Holdings, Landmark Cars IPOs get lukewarm response from investors

Abans' IPO consisted of Rs 103 crore fresh fund raise and Landmark Cars' IPO consisted of Rs 150 crore fresh fund raise

Street signs: Nifty may scale Mt 19K, grey market premium, and more

Last week, the benchmark Nifty and Sensex came close to topping their lifetime highs made in October 2021. Domestic brokerage ICICIdirect expects the Nifty to not just surpass its previous highs

Four companies receive Sebi approval for initial public offerings

Markets regulator Sebi has given its nod for the proposed initial public offerings of four companies -- BIBA Fashions Ltd, Keystone Realtors Ltd, Plaza Wires Ltd and Hemani Industries Ltd. These companies have received their respective observation letters from Sebi, according to an update on the regulator's website as on October 14. In Sebi's parlance, issuance of the observation letter implies the go-ahead from the regulator for the proposed IPO. Ethnic wear fashion label Biba Fashion, which is backed by Warburg Pincus and Faering Capital, had filed the Draft Red Herring Prospectus (DRHP) for an IPO in April. The proposed IPO comprises fresh issuance of equity shares worth Rs 90 crore and an Offer For Sale (OFS) of 2.77 crore equity shares by the promoter and existing investors, as per the draft papers. In June, Rustomjee group company Keystone Realtors has filed the preliminary papers to raise Rs 850 crore through an IPO. It consists of fresh issue of equity shares aggregating

Electronics Mart India IPO subscribed 7.57 times on Day 2 of offer

The Initial Public Offering (IPO) of consumer durables retail chain Electronics Mart India received 7.57 times subscription on the second day of offer on Thursday. The IPO got bids for 47.29 crore shares against 6.25 crore shares on offer, according to NSE data. The category for non-institutional investors was subscribed 11.74 times, while the portion for Retail Individual Investors (RIIs) attracted 7.81 times subscription. Qualified Institutional Buyers (QIBs) category received 4.01 times subscription. The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale component. Price range for the offer is Rs 56-59 a share. On Tuesday, the public offer of Electronics Mart India was subscribed 1.69 times on the first day of offer. The domestic equity markets were closed on Wednesday for the Dussehra festival. Electronics Mart India Ltd (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary concern with a consumer durables a

Electronics Mart IPO subscribed 1.7x on Day-1 on retail, QIB interest

The firm is looking to raise Rs 500 crore from the IPO to fuel its store and warehouse expansion plan

Harsha Engineers International IPO subscribed 10.35 times on Day 2 of issue

The company allotted 68.4 lakh shares at Rs. 330 per share

Dreamfolks Services' shares jump nearly 42% in stock market debut

The successful listing follows a strong response to the company's maiden share sale, which had garnered nearly 57 times subscription last month

Blue Jet Healthcare files draft papers with Sebi for Rs 2,100-cr IPO

Mumbai-based Blue Jet Healthcare, is a specialty pharmaceutical and healthcare ingredient and intermediate company

Fewer IPOs in 2022: How long before the primary market revs up?

As against over 60 companies that took the IPO route last year, only 16 companies have floated their initial public offers this year. Take a dive into the reasons behind the lull this year

Primary market revival is still some time away, say analysts

Inflation trajectory and the actions of global central banks, especially the US Fed will be keenly watched by market participants. In this backdrop, primary markets will remain in wait and watch mode

Syrma SGS Technology IPO subscribed 32.6x on final day of bidding

The qualified institutional buyers (QIBs) was subscribed 87.5 times, high networth individual (HNI) portion 17.5 times and retail portion 5.5 times

Equity investors richer by over Rs 12.74 trn in four-day rally

In four days, the BSE benchmark has jumped 2,847.01 points or 5.15%

Senco Gold, DCX Systems, HMA Agro Industries get Sebi's nod to float IPOs

Jewellery retail player Senco Gold Ltd, electronic sub-systems and cable harnesses maker DCX Systems and frozen meat exporter HMA Agro Industries have received Sebi's nod to raise funds through IPOs. The companies, which filed their preliminary IPO (Initial Public Offering) papers with Securities and Exchange Board of India (Sebi) between March and April, obtained their observation letters during July 5-7, an update with the regulator showed on Monday. In Sebi's parlance, issuance of observation letter implies its nod to float IPO. Together, the three firms are expected to mop-up Rs 1,605 crore through the initial share sales. The equity shares of the companies are proposed to be listed on both the bourses -- BSE and NSE. Going by the draft papers, Senco Gold's Rs 525 crore-IPO will comprise fresh issue of equity shares aggregating up to Rs 325 crore and an Offer For Sale (OFS) of equity shares to the tune of Rs 200 crore by selling shareholder - SAIF Partners India IV Limited. Th

Agro-chemical firm GSP Crop Science plans Rs 500-cr IPO next year

Agro-chemical firm GSP Crop Science Pvt Lt is looking to launch a Rs 500-crore IPO (Initial Public Offering) by next year, according to its managing director Bhavesh Shah.

Corrtech International gets Sebi's go-ahead to raise funds through IPO

Corrtech International, a pipeline laying solutions provider, has received capital markets regulator Sebi's go ahead to raise funds through an Initial Public Offering (IPO).

eMudhra collects Rs 124 crore from anchor investors ahead of its IPO

Digital signature certificate provider eMudhra Ltd on Thursday said it has raised Rs 124 crore from anchor investors ahead of its initial public offering which opens for subscription on Friday. The company has allocated 48,37,336 equity shares to anchor investors at Rs 256 per share, aggregating the transaction size to Rs 123.83 crore, according to a circular uploaded on BSE website. Aditya Birla Sun Life Mutual Fund (MF), Motilal Oswal MF, Nippon India MF, SBI MF, Baring Private Equity India, Hornbill Orchid India Fund, Pinebridge India Equity Fund and Abakkus Growth Fund are among the investors that participated in the anchor book. The company has cut the size of the fresh issue from Rs 200 crore to Rs 161 crore. Besides, there will be an Offer-For-Sale (OFS) of 98.35 lakh shares by promoters and existing shareholders. As a part of the OFS, promoters -- Venkatraman Srinivasan and Taarav Pte Ltd -- will offload 32.89 lakh equity and 45.16 lakh equity shares respectively. In addit

LIC's listing-day show second-worst globally for big IPOs this year

The worst was that of chip manufacturer ASR Microelectronics, whose shares had slumped 34% in Shanghai during their trading debut in January following its $1.1 billion IPO

All the world's a stage for unicorns

In 2021, when the buzz is around start-ups going for IPOs and celebration of Indian entrepreneurship, it's also time to acknowledge the role of global players in the journey to stardom