Page 10 - Initial Public Offerings

Sebi gives nod to Rubicon Research, Sai Life Sciences, others to float IPOs

Four companies, including pharmaceutical formulation firm Rubicon Research and TPG Capital-backed Sai Life Sciences, have received Sebi's go-ahead to raise at least Rs 3,000 crore collectively through Initial Public Offerings (IPOs), an update with the markets regulator showed on Wednesday. The other two firms that obtained the regulator's clearance are yarn manufacturer Sanathan Textiles and auto components maker Metalman Auto. Meanwhile, BMW Ventures, which filed its preliminary IPO papers in September, withdrew the documents on October 28. The four companies -- Rubicon Research, Sai Life Sciences, Sanathan Textiles and Metalman Auto -- which filed their draft IPO papers with Sebi during July and August, obtained the regulator's observations on October 31, the update showed. In Sebi's parlance, obtaining observations means its go-ahead to float public issues. The Rs 1,085-crore IPO of Rubicon Research is a combination of a fresh issue of equity shares worth Rs 500 crore and an O

Swiggy seeks valuation of $11.3 billion; IPO to open on Wednesday

Food delivery and quick-commerce major Swiggy, which is coming out with its initial public offering (IPO) on Wednesday, is seeking a valuation of about USD 11.3 billion. The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which will comprise a fresh issue of shares worth Rs 4,499 crore along with an offer for sale (OFS) of Rs 6,828 crore. Swiggy has set a price band of Rs 371 to Rs 390 per share for its maiden public issue. The issue will open for public subscription on November 6 and conclude on November 8. Speaking about the pricing, Swiggy Food Marketplace CEO Rohit Kapoor said, "We feel we have priced it right and we are looking forward to the next few days." The valuation of Swiggy has been pegged at about USD 11.3 billion (about Rs 95,000 crore) at the upper price band. Rival Zomato, which went public in July 2021, has a market valuation of Rs 2.13 lakh crore. "Our pricing is in the range of Rs 371-390 which corresponds to a value of about USD 11.3

Godavari Biorefineries IPO day 2: Check subscription status, GMP, & more

The subscription window to bid for the Godavari Biorefineries IPO, which opened yesterday, is set to conclude tomorrow, Friday, October 25, 2024

UAE supermarket chain Lulu to offer 25% stake in IPO, list on Adx

Lulu plans to offer more than 2.582 billion shares in the IPO, which will run from Oct. 28 to Nov. 5

Temasek invests $60m in Upgrad, valuation holds steady at $2.25 billion

Singapore's Temasek invests $60 million in Upgrad, maintaining a $2.25B valuation, while founder Ronnie Screwvala increases his stake to 45 per cent amid strategic changes for growth

Hyundai's historic India IPO signals new era for multinational listings

Hyundai's compatriot LG Electronics Inc. is also reported to be preparing for a potential IPO of its Indian unit

Varindera Constructions files draft papers to secure Rs 1,200-cr via IPO

Varindera Constructions has filed draft papers with capital markets regulator Sebi to mobilise Rs 1,200 crore through an initial share sale. The proposed IPO (Initial Public Offering) is a mix of fresh issue of equity shares valued at Rs 900 crore and an Offer For Sale (OFS) of shares worth Rs 300 crore by promoters, draft papers filed on Monday showed. Varinder Kumar Garg and Sushma Garg will offload shares worth Rs 201 crore and 99 crore, respectively under the OFS. Proceeds from the fresh issue will be utilised for the purchase of equipment, to support the working capital requirements of the company, payment of debt and for general corporate purposes. Varindera Constructions is an integrated Engineering, Procurement and Construction (EPC) company with experience in the construction of building projects, including residential units, and office complexes, as well as undertaking infrastructure projects such as metro depot and aircraft hangar. In the last 10 fiscal years (ended Mar

IPO rush: Hyundai, Swiggy among cos looking to raise Rs 60K cr in Oct-Nov

The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs. Munish Aggarwal, Managing Director and Head - Equity Capital Markets at Equirus, expects over 30 IPOs to be launched between September-end and December. This will be across sectors, deal sizes and a combination of fresh issues and offers for sale. The strong momentum in IPO markets is driven by several key macroeconomic, sector-specific factors and the willingness of funds to look at new ideas, which is .

Indogulf files IPO with Sebi, aims to raise Rs 200 cr via fresh issue

Indogulf Cropsciences Ltd, a manufacturer of crop protection products, plant nutrients, and biologicals, has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO). The Delhi-based company's IPO is a mix of fresh issues of up to Rs 200 crore and an Offer For Sale (OFS) of up to 38.55 lakh equity shares by selling shareholders. The offer also includes reservations for eligible employees, according to the Draft Red Herring Prospectus (DRHP). The OFS comprises the sale of 15.41 lakh equity shares by Om Prakash Aggarwal (HUF) and 23.14 lakh equity shares by Sanjay Aggarwal (HUF). Proceeds from the fresh issue to the extent of Rs 100 crore will be used for funding working capital requirements of the company; Rs 40 crore for payment of debt, Rs 14 crore for setting up an in-house dry flowable plant at Barwasni Sonipat, Haryana; and a portion will be used for general corporate purposes, as per the draft papers filed on ...

Northern Arc Capital IPO subscribed 110.71 times on offer's closing day

The initial public offering (IPO) of non-banking financial institution Northern Arc Capital Ltd received 110.71 times subscription on the closing day of the share sale on Thursday. The Rs 777-crore share sale received bids for 2,37,79,44,639 shares against 2,14,78,290 shares on offer, as per NSE data. The quota for Qualified Institutional Buyers (QIBs) got subscribed 240.79 times, while non-institutional investors subscribed the offer 142.28 times. The category for retail individual investors (RIIs) fetched 30.74 times subscription. Northern Arc Capital on Friday said it has collected Rs 229 crore from anchor investors. The Rs 777-crore IPO of the Chennai-based company has a price range of Rs 249-263 per share. The IPO is a combination of a fresh issue of equity shares valued at Rs 500 crore and an offer for sale (OFS) of up to 1,05,32,320 equity shares worth Rs 277 crore, at the upper end of the price band, by investor shareholders. This aggregates the issue size to Rs 777 ...

Arkade Developers IPO gets subscribed 16.20 times on Day 2 of bidding

The initial public offer of Arkade Developers Ltd received 16.20 times subscription on the second day of bidding on Tuesday. The initial share sale received bids for 38,51,04,390 shares against 2,37,75,719 shares on offer, as per NSE data. The portion for non-institutional investors attracted 28.26 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 19.99 times. The quota for Qualified Institutional Buyers (QIBs) fetched 44 per cent subscription. The initial public offer of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription. Realty firm Arkade Developers Ltd has raised Rs 122.40 crore from anchor investors. The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore initial public offering. The initial share sale will conclude on September 19. The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale (O

Northern Arc Capital IPO got subscribed 9.98 times on Day 2 of offer

The initial public offer of non-bank financial institution Northern Arc Capital Ltd got subscribed 9.98 times on the second day of bidding on Tuesday. The share sale received bids for 21,43,97,349 shares against 2,14,78,290 shares on offer, as per NSE data. The quota for non-institutional investors received 21.71 times subscription while the Retail Individual Investors (RIIs) part got subscribed 10.82 times. The portion meant for Qualified Institutional Buyers (QIBs) garnered 20 per cent subscription. Northern Arc Capital on Friday said it has collected Rs 229 crore from anchor investors. The Rs 777-crore IPO of the Chennai-based company will conclude on September 19. The price has been fixed in the range of Rs 249-263 per share. The IPO is a combination of a fresh issue of equity shares valued at Rs 500 crore and an Offer For Sale (OFS) of up to 1,05,32,320 equity shares worth Rs 277 crore, at the upper end of the price band, by investor shareholders. This aggregates the issue si

Gaurs Group plans IPO in next 18 months to tap growth potential: CMD

Realty firm Gaurs Group is planning to launch its Initial Public Offering ( IPO) in the next 18 months as it looks to expand business amid strong consumer demand, its CMD Manoj Gaur said on Tuesday. Byoued by the successful launch of its luxury housing project in Ghaziabad clocking Rs 3,100 crore sales in three days, Gaur said the company has set a target to expand its business of development of housing projects across the Delhi-NCR market. He said the company will also develop commercial assets, including malls, hotels, office spaces and schools/colleges to generate stable rental income. "We are planning to launch our IPO in the next 18 months. Internally, we have started the preparation to get listed on the stock exchanges," Gaur told PTI. He noted that both property and stock markets are performing well. "We strongly believe that demand in the real estate market will continue to be strong. So, there is a huge potential for expansion and growth," said Gaur, who is also Chairman

PMEA Solar submits papers to Sebi for Rs 600 cr IPO; 11.2 mn shares on sale

PMEA Solar IPO: The funds raised through the fresh issue will be allocated towards capital expenditure and debt repayment

LG Electronics picks banks for $1.5 billion listing of Indian unit

LG has tapped banks including Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley as arrangers for an IPO

Sebi considers new stricter rules to curb risks as tiny IPOs boom

Mandating a longer track record of profitability and greater scrutiny of financial statements are the other potential steps under review, the person said

Shubhshree Biofuels Energy IPO subscribed 120 times on final day of bidding

The initial public offer of Shubhshree Biofuels Energy got subscribed by a whopping 119.37 times on the last day of subscription on Wednesday. The public offer of Shubhshree Biofuels Energy received bids for 11,91,82,800 shares against 9,98,400 shares on offer, according to the NSE data. The initial public offering (IPO) of Shubhshree Biofuels Energy is entirely a fresh issue of 13.92 lakh shares. The company had fixed a price band at Rs 113-119 a share. The company intends to utilise the proceeds of IPO to fund the capital expenditure towards the installation of additional plant and machinery, to meet the working capital requirements, and general corporate purpose. Established in 2013, Jaipur-based Shubhshree Biofuels Energy supplies biomass fuels, including biomass pellets and briquettes, to customers operating in the recycled material, textile processing, pharmaceutical, metal, etc. sectors. Meanwhile, the Rs 45.88-crore IPO of Aditya Ultra Steel subscribed 10.22 times on the f

Auto parts maker Kross IPO gets subscribed 16.81 times on last day of bid

The initial share sale of auto parts manufacturer Kross Ltd got subscribed 16.81 times on the last day of subscription on Wednesday. The public offer received bids for 25,80,21,618 shares against 1,53,50,877 shares on offer, according to data available with the NSE. The portion for Qualified Institutional Buyers (QIBs) garnered 23.32 times subscription while the quota for non-institutional investors got subscribed 22.24 times. The Retail Individual Investors (RIIs) part received 10.76 times subscription. Kross Ltd on Friday said it has mobilised Rs 150 crore from anchor investors. The Jamshedpur-based company's IPO is a combination of a fresh issue of equity shares worth Rs 250 crore and an Offer-for-Sale (OFS) aggregating up to Rs 250 crore by the promoters. The OFS portion consists of equity shares to the tune of up to Rs 168 crore by Sudhir Rai and Rs 82 crore by Anita Rai. The issue has a price band of Rs 228-240 per share. Kross proposes to utilise the net proceeds of the f

Tolins Tyres' IPO fully subscribed in few hours, 1.8 times booking on Day 1

The initial public offer of Tolins Tyres got fully subscribed within hours of opening of bidding on Monday and ended the first day with an overall over-subscription of 1.80 times. The initial share sale received bids for 1,34,50,866 shares against 74,88,372 shares on offer, according to NSE data. The Retail Individual Investors' portion was booked 3.16 times while the quota for non-institutional investors got subscribed 83 per cent. The Qualified Institutional Buyers (QIBs) part got subscribed 12 per cent. Tolins Tyres Ltd on Friday announced that it has mopped up Rs 69 crore from anchor investors. The company has fixed a price band of Rs 215-226 per share for its initial public offering (IPO). The Kerala-based company's initial share sale is a combination of a fresh issue of equity shares worth Rs 200 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 30 crore. Promoters Kalamparambil Varkey Tolin and Jerin Tolin will offload shares worth Rs 15 crore each throu

After Ola Electric, e-scooter maker Ather Energy files for $536 million IPO

The IPO is the latest in India's booming stock market that has attracted about 200 companies to raise more than $7 billion through IPOs so far this year, per LSEG data