Page 60 - Initial Public Offerings Ipos

Saas startups firming up plans for IPOs to raise capital from market

Software-as-a-service (SaaS) companies seem to be coming off age, with several of them firming up initial public offering (IPO) plans to raise capital from the market.

Specialty chemicals maker Ami Organics IPO fully subscribed on Day 1

The initial public offer of specialty chemicals maker Ami Organics was fully subscribed within the first few hours on the opening day on Wednesday.

Shri Bajrang Power and Ispat gets Sebi's go-ahead to float Rs 700-cr IPO

Leading integrated steel company Shri Bajrang Power and Ispat Ltd has received capital markets regulator Sebi's go-ahead to raise Rs 700 crore through an initial share sale. The initial public offer (IPO) consists of the issue of equity shares aggregating up to Rs 700 crore, according to the draft red herring prospectus (DRHP). Shri Bajrang Power and Ispat Ltd (SBPIL), which filed its draft papers with Sebi in July, obtained its observations on August 26, an update with the regulator showed on Monday. In Sebi parlance, the issuance of observations implies its go-ahead for the IPO. Going by the draft papers, proceeds from the issue would be utilised towards repayment or prepayment, of certain borrowings of the company, funding incremental working capital requirements, and for general corporate purposes. SBPIL is one of the leading integrated steel companies based out of central India and a key player in the country in terms of capacity for iron ore pellets, iron ore beneficiation,

Ola picks banks for $1 billion IPO, may file papers in Oct: Report

The Bangalore-based startup could seek a valuation of more than $8 billion in the IPO and could lodge a filing as soon as October, people familiar with the matter said

Budget carrier Go Airlines gets Sebi's go-ahead for Rs 3,600 crore IPO

Budget carrier Go Airlines, which has rebranded itself as 'Go First', has received market regulator Sebi's go-ahead for an initial public offer worth Rs 3,600 crore.

IPO frenzy continues; 2 public issues on September 1 to garner Rs 2,465 cr

The IPO rush will continue in September with two more companies Vijaya Diagnostic Centre and Ami Organics launching their initial share-sales on Wednesday to raise a total of Rs 2,465 crore. This comes after eight companies including Devyani International, Nuvoco Vistas Corporation and CarTrade Tech floated their initial share-sales last month to mobilise Rs 18,243 crore. So far in the current fiscal, a total of 20 companies have mopped up more than Rs 45,000 crore through IPOs. This is much higher than Rs 31,277 crore raised by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire financial year 2021-22. The initial public offer (IPO) of healthcare chain Vijaya Diagnostic Centre and specilalty chemicals maker Ami Organics will open for subscription on September 1 and conclude on September 3. Vijaya Diagnostic's IPO is entirely an offer for sale of 35,688,064 equity shares by the promoter, S Surendranath Reddy

MapMyIndia, Indian firm that powers Apple Maps and Alexa, heads for IPO

The firm, backed by Qualcomm Inc. and Walmart Inc.-owned payments startup PhonePe, is targeting an IPO size around $175 million at a valuation of about $825 million

From India to Korea, IPO markets are booming as China deals slow

Tech companies from India and South Korea, and Southeast Asia have raised $8 billion from first-time share sales this year, already blowing past the previous annual peak

SoftBank-backed logistics firm Delhivery plans $1 bn IPO filing in October

The company, backed by SoftBank Vision Fund and Carlyle Group Inc., is targeting a Mumbai listing before March next year, said the people with knowledge of the matter

Sequoia-backed beer maker Bira 91 plans fifth brewery before IPO

The new brewery in Madhya Pradesh -- Bira's second in the central Indian state -- will initially add 400,000 hectoliters a year, Ankur Jain, the 41-year-old chief executive officer said

166 current and former employees of Paytm convert ESOPs to shares

IPO-bound Paytm has one of the largest ESOP pools in the startup ecosystem, and has given out ESOPs as rewards and benefits to employees, who have contributed to the growth of the company

Top headlines: Govt offers 17 firms tax deal; campuses step up job offers

Business Standard brings you the top headlines of the day

Sebi keeps Adani Wilmar's Rs 4,500-crore issue in abeyance

The company had filed preliminary papers with Sebi on August 3, to raise funds through an initial public offering (IPO)

IPO bandwagon getting bigger and bigger; Aug sees 23 filings so far

The raging IPO frenzy has set a record of sorts this month with the first 20 days of August witnessing as many as 23 filings seeking regulatory permission

CarTrade Tech makes tepid market debut; tumbles nearly 8% at close of trade

Shares of CarTrade Tech had a muted market debut on Friday, closing with a discount of nearly 8 per cent against its issue price of Rs 1,618.

AGS Transact Tech files draft papers with Sebi to raise Rs 800-cr via IPO

Payment solutions provider AGS Transact Technologies has filed preliminary papers with capital markets regulator Sebi to mop-up Rs 800 crore through an initial share-sale

An $8.8 bn IPO wave sweeps across India as investors bet on startups

The catalyst, in a word, is Zomato Ltd. The food-delivery startup went public in July

Top headlines: Damani enters billionaires' club, India's IPO run continues

Business Standard brings the top headlines of the day

Sterlite Power files draft papers with Sebi to raise Rs 1,250-cr via IPO

Billionaire Anil Agarwal-led Sterlite Power Transmission has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,250 crore through an initial share-sale. The initial public offer (IPO) will see sale of equity shares aggregating up to Rs 1,250 crore by the company, according to draft red herring prospectus (DRHP). The offer will include a reservation of shares for employees of the company. Proceeds of the IPO will be used for payment of certain borrowings availed by the company and Khargone Transmission Limited (KTL). The company may consider a pre-IPO placement aggregating up to Rs 220 crore. If such placement is completed, the issue size will be reduced. Sterlite Power is promoted by Agarwal and Twin Star Overseas. The electricity transmission infrastructure firm, part of Vedanta group, has two business lines -- global Infrastructure and solutions. The global infrastructure business line bids for, designs, constructs, owns and operates power transmission

Sebi cuts lock-in period for promoters to 18 months post-IPO

Markets regulator Sebi has reduced the minimum lock-in period for promoters' investment post an initial public offering (IPO) to 18 months from three years, under certain conditions. The move comes at a time when many companies are looking to list on the stock exchanges. In addition, the Securities and Exchange Board of India (Sebi) has streamlined disclosures requirements of group companies. In a notification, Sebi said that if the object of the issue involves offer-for-sale or financing other than for capital expenditure for a project, then the minimum promoters' contribution of 20 per cent would be locked-in for 18 months from the date of allotment in the IPO. Currently, the lock-in period is three years. Capital expenditure includes civil work, miscellaneous fixed assets, purchase of land, building and plant and machinery, among others. Further, the lock-in period for the promoter shareholding in excess of the minimum 20 per cent has also been reduced from the existing one ye