Page 20 - Initial Public Offerings

Auto component maker Happy Forgings to launch Rs 1,008 crore IPO on Dec 19

Auto components maker Happy Forgings Ltd on Thursday fixed a price band of Rs 808 to 850 per share for its Rs 1,008 crore-Initial Public Offering (IPO). The maiden public issue will open for subscription from December 1921, and the anchor book will be opened for a day on December 18. The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an Offer For Sale (OFS) of up to 71.6 lakh shares by a promoter and a selling shareholder. Paritosh Kumar Garg (HUF) and India Business Excellence Fund III are the selling shareholders in the OFS. Proceeds from the fresh issue will be utilised towards the purchase of equipment, plants, and machinery, the payment of debt and a portion of the funds will also be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers. Investors can bid for a minimum of 17 equity shares and in multiple

Inox India, DOMS Industries among 5 companies to crowd IPO lane this week

The IPO lane is getting crowded as five companies, including India Shelter Finance and DOMS Industries, have lined up public offers this week on favourable market conditions. The other three companies whose maiden public issues are slated to open are Inox Group entity Inox India, Jaipur-based retail jewellery company Motisons Jewellers and Mumbai-based Suraj Estate Developers, according to their Red Herring Prospectus (RHPs). Together, these companies are estimated to raise at least Rs 4,200 crore. This comes on the back of 10 companies successfully concluding their maiden public issues last month. The list included the IPO (Initial Public Offerings) of Tata Technologies, which was the first company from the Tata Group to float an initial share sale in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004. Overall, the Indian IPO market witnessed more than 44 issues that collected around Rs 35,000 crore in the current fiscal FY24 (till November).

Jamshedpur-based Kross files Rs 500 crore maiden IPO papers with Sebi

Kross Ltd -- a specialist in manufacturing forging components for top OEMs -- has filed preliminary papers with capital markets regulator Sebi to raise Rs 500 crore through an Initial Public Offering (IPO). The maiden public issue of the Jamshedpur-based company comprises a fresh issue of shares worth up to Rs 250 crore and an Offer for Sale (OFS) of shares aggregating up to Rs 250 crore by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday. 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 company may undertake a pre-IPO placement of its securities worth up to Rs 50 crore. If such placement is undertaken, the fresh issue size will be reduced. Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company. Besides, a portion will be used for general corporate

Rupee closes at new low of 83.38 vs $; most Asian currencies weaken

Rupee closed the day at 83.38 against the dollar as compared to previous close of 83.34 per dollar, which is also a previous closing low

Tata Technologies IPO: Check price band, bidding period, and other details

The Tata Technologies Ltd IPO includes a reserved 10 per cent quota for Tata Motors shareholders

Tata Technologies IPO: Details of public offer opening on November 22

The Tata Technologies IPO will be open for bidding from November 22, and will conclude November 24

Flurry of IPOs: 5 cos including Tata tech gear up to raise Rs 7,300 cr

The initial public offering (IPO) lane will be busy in November with five companies, including Tata Technologies and Indian Renewable Energy Development Agency Ltd, tapping the primary market next week to raise over Rs 7,300 crore collectively. The other three companies whose maiden public issues are ready to open are Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery India. Together, these five companies are expected to fetch more than Rs 7,300 crore through the IPOs, data from the stock exchanges showed. Before this, three firms -- ASK Automotive, Protean eGov Technologies, and ESAF Small Finance Bank -- launched their public issues earlier this month. Further, IPOs of Honasa Consumer, which owns FMCG brands Mamaearth, and household products and stationery manufacturer Cello World concluded in the first week of the month. V Prashant Rao, Director & Head-ECM, Investment Banking at Anand Rathi Advisors, attributed several factors to the hectic IPO ...

Record number of small, medium-sized firms going public in India this year

So far in 2023, 184 firms have gone public in the South Asian nation, more than in any other full year, according to data compiled by Bloomberg

IPO filings remain robust in October despite recent turbulence in equities

August-October best period for DRHP filings in 2 years

Regulatory relook: Move to push firms away from in-house RTAs on the cards

Sebi looking to increase networth requirement, other measures; may float discussion paper

Entero Healthcare Solutions files draft papers with Sebi to introduce IPO

Healthcare products distributor Entero Healthcare Solutions has filed preliminary papers with capital markets regulator Sebi to mop-up funds through an Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) component of up to 85.57 lakh equity shares, according to the Draft Red Herring Prospectus (DRHP), which was filed on Wednesday. According to investment banking sources, the IPO is expected to be worth Rs 1,000 crore. Those selling shares in OFS are promoters Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Ltd, and other shareholders Chethan M P, Deepesh T Gala, Hemant Jose Barros, Hemant Jaggi, K R V S Varaprasad, K E Prakash and Lavu Sahadev. The company may also consider a pre-IPO placement aggregating up to Rs 200 crore, and if such a placement is completed, the size of the fresh issue will be reduced. Net proceeds from the fresh issue to the tune of Rs 123.67 crore will be used towa

SBFC IPO subscribed 6.3x on day 2, Concord Biotech IPO over half covered

At the top end, SBFC will be valued at Rs 6,066 crore on a post-dilution basis

SBI Mutual Fund listing off the focus, says chairman Dinesh Khara

SBI first revealed its intentions to take the mutual fund subsidiary public on December 15, 2021, with the aim of raising $1 billion

Jhunjhunwala-backed Concord Biotech eyes to raise Rs 1,550 cr through IPO

The late Rakesh Jhunjhunwala-backed firm sets price band of Rs 705-Rs 741 a share

Yatharth Hospital IPO subscribed 36.16 times on last day of subscription

The Initial Public Offering (IPO) of Yatharth Hospital and Trauma Care Services was subscribed 36.16 times on the last day of subscription on Friday. The Rs 686.55 crore-initial share sale received bids for 59,72,19,800 shares against 1,65,17,823 shares on offer, as per BSE data. The portion for qualified institutional buyers received 85.10 times subscription while the non-institutional investors part was subscribed 37.22 times. The retail individual investors category was subscribed 8.34 times. The IPO comprised a fresh issue aggregating up to Rs 490 crore and an offer for sale of up to 65,51,690 equity shares. The IPO had a price range of Rs 285-300 a share. The initial public offering of Yatharth Hospital was fully subscribed on the first day of subscription on Wednesday. Yatharth Hospital & Trauma Care on Tuesday said that it collected Rs 206 crore from anchor investors. The company said it intends to utilise the net proceeds for repayment of debt, funding capital expenditur

Netweb Technologies IPO subscribed 9.14 times on second day: NSE data

The Initial Public Offering (IPO) of Netweb Technologies was subscribed 9.14 times on Tuesday, the second day of the offer. The Rs 631 crore-initial share sale received bids for 8,09,39,130 shares against 88,58,630 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 18.09 times while the portion for retail individual investors got subscribed 8.77 times and qualified institutional buyers quota was subscribed 2.66 times. The IPO was subscribed 2.33 times on the first day on Monday. The three-day IPO has a fresh issue of up to Rs 206 crore and an offer for sale of up to 85 lakh equity shares. The price band has been fixed at Rs 475-500 per share. On Friday, the homegrown server maker said it has collected Rs 189 crore from anchor investors. Proceeds of the fresh issue to the tune of Rs 32.77 crore will be used to fund capital expenditure, Rs 128.02 crore to support long-term working capital, and Rs 22.5 crore for debt payment, besides

National Securities Depository files DRHP with Sebi to float IPO

As of June 2023, NSDL handled 32.3 million demat accounts with underlying assets of Rs 338 trillion

No IPO without regulator mandates: MD & CEO, Tata AIA Life Insurance

In a Q&A, Naveen Tahilyani explains how focussing on retail has paid off. He says he expects new business premium for the retail segment to grow at 30%

Short & sweet: Reduced IPO timeline to boost investor participation

Faster fund release will allow retail investors to apply for multiple issues, say experts

7 IPOs this week but don't make these 10 mistakes in pursuit of gains

The most common mistake than investors make that can be a trap and hinder your financial success is following the herd mentality