Page 19 - Initial Public Offerings

Nykaa shares slump as one-year lockup period of pre-IPO investors ends

Selling pressure from pre-IPO investors feared in four start-ups this month

Archean Chemical Industries IPO subscribed 30% on first day of offer

Specialty marine chemical manufacturer Archean Chemical Industries' initial share sale got subscribed 30 per cent on the first day of subscription on Wednesday. The Initial Public Offering (IPO) received bids for 59,41,260 shares against 1,99,57,325 shares on offer, according to NSE data. The portion for Retail Individual Investors (RIIs) got subscribed 95 per cent. The category for non-institutional investors received 36 per cent subscription while Qualified Institutional Buyers (QIBs) portion was subscribed 4 per cent. The IPO consists of a fresh issue of equity shares aggregating up to Rs 805 crore and an Offer For Sale (OFS) of up to 1.61 crore shares by the promoter and investors. The price band has been fixed at Rs 386-407 per share. On Monday, the company raised Rs 658 crore from anchor investors. The firm plans to use the proceeds of the fresh issue for the redemption of Non-Convertible Debentures (NCDs) issued by it. Archean is focused on producing and exporting bromine

White-knuckle volatility forces companies to let IPO approvals lapse

Some firms may blue-pencil valuations because of capital requirement compulsions or for providing exits to their investors. Still others can afford to wait

Sah Polymers, Sula Vineyards get Sebi's nod to float IPOs to raise funds

Polymer manufacturer Sah Polymers and leading wine producer Sula Vineyards have received capital markets regulator Sebi's approval to raise funds through initial public offerings (IPOs). The two companies, which had filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi) during April and July 2022, obtained observations during October 31-November 3, an update with the regulator showed on Monday. In Sebi's parlance, the regulator's observation means its go-ahead to launch an initial share sale. Going by the draft papers, Sah Polymers' IPO will be a fresh issue of 1,02,00,000 equity shares, with no offer-for-sale component. The company proposes to utilise net proceeds from the fresh issuance of equity shares towards manufacturing of new Flexible Intermediate Bulk Containers (FIBC) plant and expansion of production capacity; funding working capital requirements for the new project; and payment of certain debt. The Udaipur-based company is primarily engaged

Awfis aims to double revenue to Rs 600 cr in FY23; IPO by Dec next year

Co-working operator Awfis is targeting two-fold jump in revenue to Rs 600 crore in FY23 as demand for flexible workspace has risen post the second wave of the pandemic, its founder and CEO Amit Ramani said. The company also plans to launch its initial public offer (IPO) towards the end of 2023 mainly to raise funds and give exits to investors, he said, adding the company has so far raised about Rs 450 crore from investors. At present, Awfis has 150 centres across 17 cities, comprising about 90,000 desks. It offers a desk in a price range of Rs 7,000-20,000 per month. In an interview with PTI, Ramani said the co-working segment, which includes managed office space, has been performing exceedingly well in the past 12-15 months. "Our revenue grew to Rs 280 crore in last financial year from Rs 220 crore in previous fiscal year. This financial year, we are targeting around Rs 600 crore revenue," he said. Ramani highlighted that the company has already achieved a monthly run rate of Rs

Investcorp plans major ramp up of India assets to $5 billion: Alardhi

The Middle East firm expects to reach $5 billion of assets in India in the next five years, up from just over $600 million currently, or 1.5% of the $42.7 billion in assets managed by Investcorp

Fusion microfinance subscribed 3x on Day-2 on strong institutional support

Medanta Hospitals IPO subscribed 36% on day-2, Bikaji Foods by 1.5 times

Kaynes Technology IPO set to open on Nov 10; fresh issue size at Rs 530 cr

The initial share-sale of Kaynes Technology India Limited (KTIL), an IoT solutions-enabled integrated electronics manufacturing company, will kick off for public subscription on November 10. The Initial Public Offering (IPO) will conclude on November 14 and the bidding for anchor investors will open on November 9, according to the Red Herring Prospectus (RHP). The company has cut fresh issue size to Rs 530 crore from Rs 650 crore planned earlier. Besides, there would be an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder. The OFS comprises sale of 20.84 lakh equity shares by promoter Ramesh Kunhikannan and 35 lakh equity shares by existing shareholder Freny Firoze Irani. Proceeds from the fresh issue will be used to repay debt, funding capital expenditure for its manufacturing facilities at Mysore and Manesar and funding working capital requirements. Also, the company plans to invest in its arm Kaynes Electronics Manufacturing Pvt Ltd

Fusion Micro Finance IPO subscribed 29% on Day 2 of offer: NSE data

The initial public offering of Fusion Micro Finance was subscribed 29 per cent on the second day of subscription on Thursday. The IPO received bids for 61,45,560 shares against 2,13,75,525 shares on offer, according to NSE data. The category meant for non-institutional investors was subscribed 61 per cent and Retail Individual Investors (RIIs) part attracted 31 per cent subscription. The IPO has a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares. Price range for the offer is at Rs 350-368 a share. On Tuesday, Fusion Micro Finance said it has raised a little over Rs 331 crore from anchor investors. The company is expected to raise Rs 1,104 crore at the upper end of the price band. Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm. IIFL Securities, ICICI Securities, CLSA India and JM Financial are the mangers to the offer.

ESAF SFB refiling draft papers for IPO, will finish process by Dec

Issue size to smaller than earlier plan of Rs 998 crore, says company's CEO

Fusion Micro Finance IPO receives 12% subscription on Day 1 of offer

The initial public offering of Fusion Micro Finance was subscribed 12 per cent on the first day of subscription on Wednesday. The IPO received bids for 26,04,560 shares against 2,13,75,525 shares on offer, according to an update on the NSE. The non-institutional investors category received 23 per cent subscription and Retail Individual Investors (RIIs) portion was subscribed 14 per cent. The Initial Public Offering (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares. The offer has a price range of Rs 350-368 a share. Fusion Micro Finance on Tuesday said it has raised a little over Rs 331 crore from anchor investors. The company is expected to raise Rs 1,104 crore at the upper end of the price band. Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm. IIFL Securities, ICICI Securities, CLSA India and JM Financial are the managers to the offer.

IPO watch: DCX issue subscribed nearly 70 times on strong QIB interest

Price band set at Rs 197-207; No institutional takers for Fusion microfinance on opening day

DCX Systems IPO fully subscribed on Day 1; receives 2.11 times subscription

The Initial Public Offering (IPO) of DCX Systems, manufacturer of cables and wire harness assemblies, received 2.11 times subscription on the first day of offer on Monday. The IPO received bids for 3,05,65,584 shares against 1,45,11,146 shares on offer, according to NSE data. The category meant for Retail Individual Investors (RIIs) received 8.70 times subscription, while the portion for non-institutional investors got subscribed 2.16 times. Qualified Institutional Buyers (QIBs) quota received 3 per cent subscription. Fresh issue aggregating up to Rs 400 crore and an offer for sale of up to Rs 100 crore. The price range for the offer is at Rs 197-207 a share. On Friday, DCX Systems said it has raised Rs 225 crore from anchor investors. The company proposes to utilise the net proceeds from the fresh issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure and general corpora

SFBs need Rs 4,000 cr capital to maintain 30% CAGR in advances: CareEdge

Capital raising delayed amid volatile markets, lower risk apetite among investors

Busiest week for IPOs this year with four offers set to hit market

The last time four IPOs had hit market was in Dec 2021; latest rush notwithstanding, year 2022 has been lukewarm for IPOs with sustained FPI outflows, spike in volatility, correction in broader mkts

Udaan raises $120 mn amid funding winter; plans IPO in 12-18 months

Business-to-business e-commerce firm raises capital from existing investor, was valued at $280 million in January 2021

Samvat 2078: Record-breaking year for IPOs but outlook turns cloudy

The top five issues accounted for nearly two-thirds of the IPO fund raise

IPO delayed due to Ukraine-Russia war and Omicron wave: Go First

The firm's DRHP expired in August this year and it will need to refile its papers with Sebi to reinitiate the IPO process

IndiaFirst Life Insurance to file draft papers with Sebi in next few weeks

IndiaFirst Life insurance entered the insurance industry in 2009 as the 23rd private sector life insurance company

New issue pricing onus may put independent directors in a spot: Experts

Experts feel Sebi diktat may deter those with non-financial background from joining boards