Page 20 - Ipo Activity

Gretex Share Broking files draft papers with Sebi to raise funds via IPO

Gretex Share Broking has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is a combination of fresh issue of 1.67 crore equity shares and an offer-for-sale (OFS) of 30.96 lakh shares by selling shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi on Friday. Proceeds from the fresh issue would be used towards working capital requirements and for general corporate purposes. Mumbai-based Gretex Share Broking is engaged in the business of market making and stock broking, underwriting capital markets issuances and depository participants of NSDL. Pantomath Capital Advisors is the sole book running lead manager to the issue. Equity shares of the company will be listed on the BSE and NSE.

Azad Engineering IPO opens on Dec 20, price band set at Rs 499-524 a share

Azad Engineering Ltd on Friday said it has fixed a price band of Rs 499-524 a share for its Rs 740 crore initial public offering (IPO). The issue would open for public subscription during December 20-22 and the anchor book will open for a day on December 19, the company announced. The Hyderabad-based firm's IPO comprises a fresh issue of up to Rs 240 crore and an Offer For Sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors. The OFS consists of the sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, Rs 280 crore by Piramal Structured Credit Opportunities Fund, and Rs 50 crore by DMI Finance. Proceeds from the fresh issue will be used for funding capital expenditure of the company, payment of debt, and 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 fo

Azad Engineering receives Sebi's approval to raise Rs 740 crore IPO

Azad Engineering Ltd has received capital markets regulator Sebi's go-ahead to raise Rs 740-crore through an initial public offering (IPO). The Hyderabad-based firm, which filed its preliminary IPO papers in September, obtained the regulator's observation letter on December 5, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday. In Sebi's parlance, obtaining its observation letter means its go-ahead to float an IPO. According to the draft papers, the company's IPO comprises a fresh issue of up to Rs 240 crore and an offer for sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors. The OFS consists of sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, Rs 280 crore by Piramal Structured Credit Opportunities Fund, and Rs 50 crore by DMI Finance. Proceeds from the fresh issue will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes. Azad ..

Sebi removes NSDL IPO from abeyance; Oil drops close to July low

Inox India's and Stanley's IPO comprise secondary share sale of 22.11 million and 9.13 million shares, respectively

Fedfina announces Rs 1,092 cr IPO; sees no impact of RBI norms on issue

Fedbank Financial Services (Fedfina) on Friday said it plans to raise up to Rs 1,092-crore through an initial public offering opening on November 22. The Reserve Bank's circular increasing the risk weights on unsecured lending will increase the borrowing costs, but the negative market sentiment will not impact the offering, Managing Director and Chief Executive Officer Anil Kothuri told reporters here. Fedfina, a subsidiary of south-based Federal Bank, has set a price band of Rs 133-140 per share for the issue which comes amid a raft of other issuances before the holiday season and the next year's general elections. The issue will open for three days starting November 22. The offer consists of fresh issue of Rs 600 crore, while the rest is offer for sale under which existing shareholders, including Federal Bank and homegrown private equity fund True North are exiting. Kothuri said that post issue, Federal Bank's overall holding will come down to 61 per cent from the present 73 per

Mukka Proteins gets Sebi's nod to raise funds via initial public offering

Mukka Proteins, which manufactures fish meal, fish oil, and fish soluble paste, has received capital markets regulator Sebi's go-ahead to raise funds through an initial public offering (IPO). The IPO is an entirely fresh issue of up to 8 crore equity shares, according to the draft red herring prospectus (DRHP). The company, which had refiled its draft IPO papers with the regulator in June, obtained an observation letter from it on October 30, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, obtaining an observation letter means the regulator's nod to float the public issue. Going by the draft papers, the company proposes to utilize up to Rs 120 crore towards working capital requirements, up to Rs 10 crore for investment in its associate, Ento Proteins Pvt Ltd, for funding its working capital requirements besides a portion will be used for general corporate purposes. According to market sources, the IPO size could be anywhere .

ASK Automotive initial public offering subscribed 38% on first day of offer

The Initial Public Offering (IPO) of auto ancillary player ASK Automotive received 38 per cent subscription on the first day of share sale on Tuesday. The initial share sale received bids for 78,51,155 shares against 2,06,99,974 shares on offer, as per NSE data. The portion for Retail Individual Investors (RIIs) was subscribed 56 per cent while the quota for non-institutional investors received 41 per cent subscription. The category for Qualified Institutional Buyers (QIBs) got 3 per cent subscription. The IPO is an Offer For Sale (OFS) of 2,95,71,390 equity shares by promoters -- Kuldip Singh Rathee and Vijay Rathee. Since the IPO is completely an OFS, the entire proceeds will go to shareholders divesting their shares. The issue has a price band of Rs 268-282 per equity share. At the upper end of the price band, the IPO is expected to fetch Rs 833.91 crore. ASK Automotive on Monday said it has mobilised a little over Rs 250 crore from anchor investors. Gurugram-based ASK Autom

ESAF Small Finance Bank IPO subscribed 73.15 times on last day of offer

The Initial Public Offering (IPO) of ESAF Small Finance Bank was subscribed 73.15 times on the last day of subscription on Tuesday. The Rs 463-crore initial share sale received bids for 4,22,28,99,750 shares against 5,77,28,408 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) received 173.52 times subscription while the quota for non-institutional investors got subscribed 84.37 times. The retail individual investors part received 16.97 times subscription. The public offer had a fresh issue aggregating up to Rs 390.7 crore and offer for sale of up to Rs 72.3 crore. The initial share sale had a price range of Rs 57-60 a share. Those selling shares in the OFS were promoter ESAF Financial Holdings Pvt Ltd, and other shareholders -- PNB MetLife India Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd. ESAF Small Finance Bank said it has collected Rs 135 crore from anchor investors. Proceeds of the fresh issue will be utilised to

Protean eGov Tech IPO subscribed 3.21 times on second day of offer

The initial public offer (IPO) of Protean eGov Technologies was subscribed 3.21 times on Day 2 of subscription on Tuesday. The IPO received bids for 1,40,49,126 shares against 43,78,700 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 6.23 times while the quota for Retail Individual Investors (RIIs) received 3.88 times subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 7 per cent. The IPO of Protean eGov Technologies received a full subscription on the first day of the share sale on Monday. Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) on Friday said it has mobilized a little over Rs 143 crore from anchor investors. The public issue is purely an offer of sale (OFS) by existing shareholders. The OFS size has been reduced to 61.91 lakh equity shares from 1.28 crore equity shares planned earlier. Since the IPO is completely an OFS, the entire proceeds will go to the se

Sunil Mittal's Airtel Uganda IPO failed to sell as investors prefer bonds

The demand for Ugandan government bonds maturing in 2033 exceeded the amount on sale by eight fold in an auction on Thursday

ASK Automotive collects Rs 250 cr from anchor investors ahead of IPO

Auto ancillary player ASK Automotive on Monday said it has mobilised a little over Rs 250 crore from anchor investors ahead of its initial share sale which opens for public subscription on Tuesday. The company has allotted 88.71 lakh equity shares to 25 funds at Rs 282 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. At the price, the company has garnered Rs 250.17 crore from anchor investors. Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, BNP Paribas Arbitrage, Societe Generale, Goldman Sachs Fund, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company, Nippon India Mutual Fund (MF), Tata MF and Edelweiss MF are among the anchor investors. The IPO is an offer for sale (OFS) of 2,95,71,390 equity shares by promoters -- Kuldip Singh Rathee and Vijay Rathee. Since the IPO is completely an OFS, the entire proceeds will go to shareholders divesting the

Protean eGov Tech IPO receives full subscription on Day 1 of offer

The Initial Public Offering (IPO) of Protean eGov Technologies received full subscription on the first day of share sale on Monday. The initial share sale received bids for 46,91,250 shares against 43,78,700 shares on offer, translating into 1.07 times subscription, as per NSE data. The portion for Retail Individual Investors (RIIs) was subscribed 1.49 times while non institutional investors quota got subscribed 1.65 times. The category for Qualified Institutional Buyers (QIBs) received 1 per cent subscription Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) on Friday said it has mobilized a little over Rs 143 crore from anchor investors. The public issue is purely an offer of sale (OFS) by existing shareholders. The OFS size has been reduced to 61.91 lakh equity shares from 1.28 crore equity shares planned earlier. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders and the company will not receive any funds fr

ASK sets price band; Old Bridge Capital files papers for MF offering

Old Bridge Capital Management, which rece­ived the mutual fund licence in September, has filed papers with Sebi for its first scheme

Blue Jet Healthcare shares jump over 19% in debut trade, settling at Rs 413

Shares of pharmaceutical ingredient maker Blue Jet Healthcare Ltd on Wednesday ended with a premium of over 19 per cent against the issue price of Rs 346. At the NSE, shares of the company listed at Rs 380, rallying 9.82 per cent from the issue price. During the day it jumped 20.79 per cent to Rs 417.95 before settling at Rs 413.25, posting a rise of 19.43 per cent. The stock began the trade at Rs 359.90, registering a gain of 4 per cent on the BSE. Shares of the company ended at Rs 395.85, rallying 14.40 per cent. The company commanded a market valuation of Rs 6,866.63 crore. The Initial Public Offering (IPO) of Blue Jet Healthcare was subscribed 7.95 times on the final day of subscription on Friday. The Rs 840.27-crore IPO had a price range of Rs 329-346 a share. The Mumbai-based firm, which operates under the brand name of Blue Jet, is offering niche products targeted towards innovator pharmaceutical companies and multinational generic pharmaceutical companies. Its business m

Auto ancillary firm ASK Automotive gears up to float IPO on November 7

Auto ancillary player ASK Automotive is set to launch its Initial Public Offering (IPO) on November 7, which will be the third maiden public issue to hit the market this month. This will be the third such issue opening in November after ESAF Small Finance Bank and Protean eGov Technologies. ASK Automotive's IPO is completely an Offer For Sale (OFS) of 2,95,71,390 equity shares by promoters Kuldip Singh Rathee and Vijay Rathee. The offer will close on November 9 and the anchor book of the offer will open on November 6, according to the Red Herring Prospectus (RHP). Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders and the company will not receive any funds from the issue. Gurugram-based ASK Automotive is one of the largest manufacturers of brake-shoe and advanced braking systems for two-wheelers in India. The company has clients including TVS Motor Company Ltd, Hero MotoCorp, Greaves Electric Mobility and Bajaj Auto. JM Financial Ltd, Axis

Protean eGov Tech IPO to open on Nov 6, sets price band at Rs 752-792

Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) on Wednesday fixed a price band of Rs 752-792 per share for its Rs 490-crore initial public offering. The maiden public issue that will open for subscription on November 6, will conclude on November 8 and the anchor book of the offer will be opened for a day on November 3, the company said in a statement. The public issue is purely an offer-for-sale (OFS) by existing shareholders. The OFS size has been reduced to 61.91 lakh equity shares from 1.28 crore equity shares planned earlier. Also, the offer includes a reservation of 1.5 lakh equity shares for the company's employees at a discount of Rs 75 per share to the final offer price. Those offering shares in the OFS are -- IIFL Special Opportunities Funds, NSE Investments, Administrator of the Specified Undertaking of the Unit Trust of India, HDFC Bank, Axis Bank, Deutsche Bank AG, Punjab National Bank, and Union Bank of India. At the upper end of the pr

Leaving legacy through brands built for India: Honasa's Ghazal Alagh

Co-founders Varun and Ghazal Alagh aim to take Indian beauty brands global as they unveil Honasa's initial public offering, eyeing Rs 1,701 crore in funding

Honasa Consumer raises Rs 765 cr from anchor investors ahead of IPO

Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, on Monday announced that it has mobilised Rs 765 crore from the anchor investors ahead of its initial public offering (IPO). The company has allotted 2,36,17,228 equity shares to 49 entities at Rs 324 apiece, which is the upper end of the price band, according to a circular uploaded on the BSE's website. Aditya Birla Sun Life Mutual Fund (MF), Axis MF, Nippon India MF, Invesco MF, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Government Pension Fund Global, Caisse De Depot Et Placement Du Quebec, SmallCap World Fund Inc, Abu Dhabi Investment Authority, and Goldman Sachs (Singapore) are among the anchor investors. The IPO comprises a fresh issue of equity shares worth Rs 365 crore and an offer-for-sale (OFS) component of 4.12 crore equity shares by promoters, investors, and other selling shareholders. Those offering shares in the OFS include promoters -- Varun Alagh and Ghazal

SLMC plans to raise about Rs 700 cr IPO by mid-2024 for business expansion

Sohan Lal Commodity Management Pvt Ltd (SLCM) is planning to launch an initial public offering (IPO) in mid-2024 to raise about Rs 700 crore for business expansion, according to people familiar with the matter. SLCM is in talks with bankers and will seek approval for the IPO plan from the board, the people said, asking not to be identified as the information is private. It is a niche IPO in the agriculture sector. The company is looking at raising funds for the expansion of its NBFC (non-banking financial company) and warehousing business. The funds will be raised from both primary and secondary markets, they said. A representative for SLCM couldn't comment immediately. SLCM's Kissandhan Agri Financial Services Pvt Ltd, established in 2017, has Rs 350 crore of assets under management (AUM) at present and aims to double this in the next 10 years. It has disbursed loans of Rs 2,700 crore so far since inception and aims to reach Rs 5,000 crore-plus by the end of the next fiscal. On t

IRM Energy IPO subscribed 4.36 times on second day of subscription

The Initial Public Offering (IPO) of city gas distribution company IRM Energy was subscribed 4.36 times on the second day of the offer on Thursday. The Rs 545.40 crore-initial share sale received bids for 3,32,69,235 shares against 76,24,800 shares on offer, as per data available on the NSE. The category for non-institutional investors was subscribed 9.08 times while the quota for Retail Individual Investors (RIIs) received 4.36 times subscription and the portion for Qualified Institutional Buyers (QIBs) got subscribed 1.18 times. The IPO is a fresh issue of up to 1.08 crore equity shares. The offer is in the price range of Rs 480-505 per share. IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors. Proceeds from the issue to the tune of Rs 307.26 crore will be used to fund capital expenditure requirements for the development of the city gas distribution network at Namakkal and Tiruchirappalli in Tamil Nadu and Rs 135 crore for payment of debt. Besi