Page 17 - Ipo Activity

Premier Roadlines IPO to open on May 10, price band at Rs 63-67 per share

Logistics solutions provider Premier Roadlines on Tuesday said it has fixed the price band at Rs 63 to Rs 67 per equity share for its initial public offer which will hit the capital market on Friday to mop up a little over Rs 40 crore. The company's shares will open for public subscription on May 10 and end on May 14. Shares of the company will be listed on the NSE's SME platform EMERGE, the company said in a statement. The public offer is entirely a fresh issuance of up to 60.24 lakh equity shares, according to the Red Herring Prospectus (RHP). The IPO comprises 50 per cent of the net issue for QIB, 35 per cent for retail investors and 15 per cent for Non-Institutional Investors (NII). At the upper end of the price band, the company will raise up to Rs 40.36 crore from the initial public offering (IPO). The company intends to utilise the proceeds from the issue to pare debt availed by the company, purchase vehicles for commercial purposes, meet working capital requirements and ..

FirstCry set to withdraw $500 million IPO papers after regulatory scrutiny

For the year ended March 31, 2023, its losses jumped six times to $57.6 million, while its total income more than doubled to $684 million, its draft papers show

Emmforce Autotech's Rs 53 cr IPO gets 365 times subscription on final day

Niche auto components manufacturer Emmforce Autotech on Thursday said its initial public offering received an overwhelming response from the investors as it was subscribed 365 times on the final day of bidding. The Rs 53.90 crore initial share sale received bids for 1,33,27,10,400 shares against 36,57,600 shares on offer, the company said. The category for Non-Institutional Investors (NII) fetched 862 times subscription, the quota for Retail Individual Investors (RII) subscribed 268 times and the Qualified Institutional Buyer (QIB) portion fetched 161 times subscription, bringing the overall subscription to 365 times on the last day of bidding on Thursday. The Initial Public Offer (IPO) had a fresh issue of 54.99 lakh equity shares with a face value of Rs 10 each through the book-building route. The IPO had a price range of Rs 93-98 a share. On Monday, Emmforce AutoTech Ltd said it had raised Rs 15.34 crore from anchor investors. The Panchkula-headquartered company manufactures a

Swiggy secures shareholders' approval to raise over Rs 10,400 cr via IPO

Food and grocery delivery major Swiggy has received shareholders' approval for an initial public offering to raise Rs 10,414 crore fund through issue of fresh equity shares and an offer for sale, according to sources. A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, they said. According to sources, the Bengaluru-based company plans to raise up to Rs 3,750 crore funds through fresh equity shares, in addition to an offer-for-sale component of up to Rs 6,664 crore. The company is looking to shore up about Rs 750 crore from anchor investors in a pre-IPO round, they added. Swiggy, founded in 2014, has a valuation of USD 12.7 billion as on April 10, 2024. Its annual revenue stood at USD 1.09 billion as on March 31, 2023. The company has more than 4,700 employees, according to Tracxn, a global startup data platform.

RCRS files draft papers with NSE Emerge, plans to raise funds via IPO

RCRS Innovations intends to utilise net proceeds from the offering to meet its working capital requirement and expand its battery manufacturing capacity

TBO Tek, Awfis Space Solutions receive Sebi's approval to float IPO

Travel distribution company TBO Tek Ltd and flexible workspace solutions firm Awfis Space Solutions Ltd have received markets regulator Sebi's go-ahead to raise funds through Initial Public Offerings (IPOs). The two firms, which filed their preliminary IPO papers with the regulator between November and December, obtained their observations during April 15-16, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, its observations mean it's going ahead to float the public issue. TBO Tek's maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer For Sale (OFS) of up to 15,635,996 equity shares by promoters and investors, according to the Draft Red Herring Prospectus (DRHP). Those selling shares in the OFS are promoters -- Gaurav Bhatnagar, Manish Dhingra and LAP Travel -- and investors -- TBO Korea and Augusta TBO. Funds raised from the fresh issue will be used for the growth and ...

Speciality chemicals company Kronox Lab Sciences gets Sebi nod to float IPO

Speciality chemicals company Kronox Lab Sciences has received Sebi's go ahead to raise funds through an initial public offering (IPO), an update with the capital markets regulator showed on Thursday. The proposed offer comprises a fresh issue of equity shares worth Rs 45 crore and an offer for sale (OFS) of 78 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP). As per market sources, the estimated IPO size is Rs 150 crore. The company, which filed preliminary IPO papers with Sebi in January this year, obtained its observations on April 12, the latest update showed. In Sebi's parlance, obtaining observations means its go ahead to float the public issue. As per the draft papers, proceeds from the fresh issue will be utilised for funding the working capital requirements and general corporate purposes. Vadodara-based Kronox is a manufacturer of high-purity specialty fine chemicals. Its products find application in a wide spectrum of industries for .

JNK's Rs 650 cr IPO to open on Apr 23, sets price band at Rs 395-415/share

Heating equipment maker JNK India Ltd on Thursday said it has fixed a price band of Rs 395-415 per share for its Rs 650-crore initial public offering (IPO). The initial share-sale will be open for public subscription during April 23-25 and the bidding for anchor investors will open for a day on April 22, the company said in a statement. The IPO is a combination of fresh issue of equity shares worth up to Rs 300 crore and an Offer-for-Sale (OFS) of up to 84.21 lakh equity shares by promoters and an existing shareholder. Those offloading shares in the OFS are promoters -- Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters Co Ltd and Mascot Capital and Marketing Pvt Ltd -- and a shareholder Milind Joshi. At the upper end of the price band, the IPO price has been pegged at Rs 650 crore. Proceeds from the fresh issue will be used for funding working capital requirements and general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 3

Canara Bank to sell a 13% stake in Canara Robeco AMC through IPO

However, the stake sale is subject to regulatory approvals from the Reserve Bank of India and Department of Financial Services, Ministry of Finance, Govt. of India

IPO mop-up increases 20% to Rs 62,000 crore during FY24, shows data

Mobilisation of IPO in FY24 surged 58 per cent compared to FY23, excluding the mega LIC IPO

Trust Fintech SME IPO opens today: Check GMP, anchor issue & other details

Trust Fintech has raised Rs 18.05 crore from allocating nearly 1.8 million shares at Rs 101 to anchor investors ahead of the IPO

Creative Graphics Solutions India's Rs 54 cr IPO to open on March 28

Integrated packaging ecosystem player Creative Graphics Solutions India Ltd on Friday said its Rs 54.4-crore initial share-sale will open for public subscription on March 28. The public issue will conclude on April 4 and the bidding for anchor investors will open for a day on March 27, the company said in a statement. After the completion of the Initial Public Offering (IPO), shares of the company will be listed on the NSE's Emerge -- a platform for small and medium enterprises. The Noida-based company's IPO comprises a fresh issue of 64 lakh equity shares worth Rs 54.4 crore at the upper end of the market. The price band for the issue has been fixed at Rs 80-85 per share. Proceeds from the IPO will be used to meet working capital requirements of the company, repay debt, support working capital expenditure, fund inorganic growth through unidentified acquisition and general corporate expenses. Creative Graphics specialises in manufacturing flexographic printing plates and serves it

Krystal Integrated Services IPO subscribed 70% on second day of offer

The initial public offer of facility management and security services provider Krystal Integrated Services received 70 per cent subscription on the second of bidding on Friday. The initial share sale got bids for 21,00,940 shares against 29,99,448 shares on offer, as per NSE data. The portion for non-institutional investors got subscribed 1.15 times, while the category for Retail Individual Investors (RIIs) received 58 per cent subscription. The quota for Qualified Institutional Buyers (QIBs) fetched 57 per cent subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 175 crore and an offer-for-sale of up to 1,750,000 equity shares. The initial share sale is priced in the range of Rs 680-715 a share. Krystal Integrated Services has mopped up over Rs 90 crore from anchor investors. The company began operations in 2000 as a private security staff provider and from 2005 entered the facility management segment. Around 70 per cent of its facility management business

JG Chemicals makes weak market debut following IPO, shares decline 17%

Shares of JG Chemicals Ltd on Wednesday ended with a discount of nearly 17 per cent against the issue price of Rs 221. The stock made its debut at Rs 211, lower by 4.52 per cent, from the issue price on the BSE. During the day, it tanked 18 per cent to Rs 181.20. Shares of the company ended at Rs 184.65, down 16.44 per cent. At the NSE, shares of the company listed at Rs 209, a discount of 5.42 per cent. It ended at Rs 183.70, lower by 16.87 per cent. The company's market valuation stood at Rs 723.57 crore. In the broader equity market, the 30-share BSE Sensex ended 906.07 points lower at 72,761.89, while the Nifty declined 338 points to 21,997.70. The Initial Public Offer (IPO) of JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday. The Rs 251.2 crore IPO was in a price range of Rs 210-221 a share. The zinc oxide manufacturer's initial public offer had a fresh issue of shares of up to Rs 165 crore and an offer for sale of up to 39 lakh shares. The .

India roils market with new crackdowns on booming IPO financing, gold

Paytm is still down more than 40% since its banking affiliate was barred from adding deposits after people familiar with the matter said it failed to properly vet hundreds of thousands of clients

Popular Vehicles sets price band at Rs 280-295 for its Rs 602 crore IPO

Kochi-based Popular Vehicles and Services, engaged in the automotive dealerships and services space, on Wednesday fixed Rs 280-295 as the price band for its Rs 602-crore initial share sale that opens on Tuesday next week. The issue consists of Rs 250 crore of fresh issue and Rs 352 crore of offer for sale by the promoters led by Naveen Philip, the managing director of the company, and his Kuttukaran family, which now holds 69 per cent of the company. Promoter Banyan Tree Growth Capital is selling 19 per cent of its 29 per cent ownership in the company. Post-issue, the promoters' shareholding will fall to 61 per cent while that of Banyan Tree will come down to 10 per cent, John Verghese, the chief financial officer of the company, told PTI here. Banyan Tree has been with Popular since 2015 when it had picked up 33 per cent for Rs 65 crore. In the run-up to the issue, the PE had sold 3 per cent at Rs 355 a share back to the company. According to Verghese, the floor price is 140 time

JG Chemicals' Rs 251.2 crore IPO subscribed 6.39 times on Day 2 of offer

The initial share sale of JG Chemicals received 6.39 times subscription on the second day of bidding on Wednesday. The Rs 251.2 crore-initial public offer received bids for 5,21,75,446 shares against 81,68,714 shares on offer, according to data available with the NSE. The quota for non-institutional investors fetched 9.63 times subscription while the Retail Individual Investors (RIIs) part got subscribed 8.30 times. The category for Qualified Institutional Buyers (QIBs) received 45 per cent subscription. The zinc oxide manufacturer's Initial Public Offer (IPO) has a fresh issue of up to Rs 165 crore and an offer-for-sale of up to 39 lakh equity shares. Its price range is fixed at Rs 210-221 a share. JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals' material subsidiary BDJ Oxides and Rs 35 crore will be used for funding the long-term working .

Gensol Group's Matrix Gas & Renewables raises Rs 350 cr in pre-IPO round

Funding will help expand gas aggregation business and buy city gas distribution assets, says firm

Tata Sons may fetch valuation up to $96 billion in IPO, says Spark

Based on a peak valuation of $96 billion, even a 5% stake in the company would still be worth more than Life Insurance Corp of India's $2.7 billion IPO in 2022

Ceigall India files IPO papers with Sebi, eyes Rs 618 cr via fresh issue

Infrastructure company Ceigall India Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO). The Ludhiana-based company's IPO is a combination of a fresh issue of Rs 617.69 crore and an Offer For Sale (OFS) of up to 1.43 crore equity shares by the promoters, and an individual selling shareholder, according to the draft red herring prospectus filed on Sunday. Promoters and promoter group entities -- Ramneek Sehgal, Ramneek Sehgal and Sons HUF, Avneet Luthra, Mohinder Pal Singh Sehgal, Parmjit Sehgal, Simran Sehgal -- and individual shareholder Kanwaldeep Singh Luthra are divesting their stakes in the proposed public issue. The offer includes a reservation for subscription by eligible employees. The company may consider raising Rs 123.50 crore in the pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the tune of Rs 118.78 crore will be