Page 21 - Ipo Activity

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

Investment bankers see highest fee income at $968 million in Jan-Sept

Investment bankers laughed their way to the bank with 41 per cent on-year more fee income at USD 967.5 million during the first nine months of 2023, despite a massive fall in deals, according to an industry analysis. This is the highest fee collection by deal makers since records began in 2000. According to Refinitiv, which is an LSEG (London Stock Exchange Group) business , completed M&A advisory fee jumped 34 per cent year-on-year during January-September 2023 and totalled USD 362 million, while ECM (equity capital market) underwriting fees rose by a steeper 38 per cent to reach USD 194.3 million. Debt capital market (DCM) underwriting fees totalled USD 181.7 million, a 41 per cent increase from a year ago, while syndicated lending fees grew 56 per cent to USD 229.5 million in the first nine months of 2023, Lucille Jones, an analyst at LSEG said, adding the total fee income for the sector during the period jumped 41 per cent to USD 967.5 million. Wall Street major Citi's ...

Realty firm Signature Global posts Rs 7.18 cr net loss for Apr-Jun

Realty firm Signature Global on Thursday reported a consolidated net loss of Rs 7.18 crore for the first quarter of this fiscal year on higher expenses. Gurugram-based Signature Global had logged a net profit of Rs 32.78 crore in the year-ago period, according to a regulatory filing. Total income also declined to Rs 178.9 crore in April-June 2023-24 from Rs 559.01 crore in the corresponding period of the previous year. This is the first quarterly result announced by the company after getting listed on stock exchanges recently. Last month, Signature Global successfully launched its Initial Public Offer (IPO). The total size of the IPO was Rs 730 crore, with a fresh issue of shares worth Rs 603 crore and an offer-for-sale (OFS) of Rs 127 crore. The public issue was subscribed 11.88 times.

IRM Energy IPO to open on Oct 18, sets price band at Rs 480-505 per share

IRM Energy on Wednesday announced a price band of Rs 480-505 per share for its initial public offering that will open for subscription on October 18. The Initial Public Offering (IPO), through which the company aims to raise up to Rs 545 crore, will close on October 20. It has a fresh issue of up to 1.08 crore equity shares. Karan Kaushal, the chief executive of the company, said, it plans to use about Rs 307.26 crore from the issue proceeds for funding capital expenditure requirements for developing the city gas distribution network in Namakkal and Tiruchirappalli in Tamil Nadu in the coming years. He also said that Rs 135 crore would be used for prepayment or repayment of some of the outstanding borrowings of the company and for general corporate purposes. The company will mobilise Rs 518.4 crore and Rs 545.4 crore at the lower and upper end of the price band, respectively. The offer also includes reservation for subscription by eligible employees, and a discount of Rs 48 per

Expect 28 IPOs worth Rs 38,000 cr in the next six months

The first half of 2023 have seen 31 corporates raise Rs 26,300 crore through main board IPOs. As many as 21 out of the 31 IPOs came in just 2 months of August and September.

Plaza Wires IPO subscribed 27.78 times on day two of subscription

The Initial Public Offering (IPO) of Plaza Wires was subscribed 27.78 times on the second day of subscription on Tuesday. The IPO received bids for 26,37,76,020 shares against 94,96,114 shares on offer, as per data available with the NSE. The category for Retail Individual Investors (RIIs) was subscribed 118.24 times while the quota for non-institutional investors received 53.06 times subscription and the portion for Qualified Institutional Buyers (QIBs) got subscribed 42 per cent. The offer is a fresh issue of up to 1,32,00,158 equity shares. The price range for the offer is Rs 51-54 a share. The company is in the business of manufacturing, marketing and selling wires, aluminium cables and fast-moving electrical goods like electric fans and water heaters. Plaza Wires has raised Rs 20 crore from anchor investors. Pantomath Capital Advisors is the manager to the offer. The equity shares of the company are proposed to be listed on the BSE and NSE.

Pharma firm Valiant Lab IPO subscribed 29.75 times on last day of offer

The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories received 29.75 times subscription on the last day of bidding on Tuesday. The initial share sale received bids for 22,68,13,020 shares against 76,23,030 shares on offer, according to an update available with the NSE. The portion for non-institutional investors was subscribed 73.63 times while the quota for qualified institutional buyers received 20.83 times subscription. Retail individual investors portion got subscribed 16.05 times. The IPO was an entirely fresh issuance of up to 1.08 crore equity shares. Price range for the offer was Rs 133-140 a share. Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd -- and to meet the working capital requirements of the subsidiary company. Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufactu

Govt owned WAPCOS scraps IPO plans; withdrawal reasons not disclosed

Public sector firm WAPCOS Ltd has decided to shelve its plan for an Initial Public Offering (IPO), through which the government was looking to divest shares. The maiden public issue was slated to be a complete Offer For Sale (OFS) of up to 32,500,000 equity shares by the promoter, Government of India. The company had filed its preliminary papers for the proposed IPO on September 26, 2022 with the Securities and Exchange Board of India (Sebi). However, the issue was withdrawn on September 21, 2023, an update with the markets regulator showed on Tuesday. The reasons for the withdrawal were not disclosed. WAPCOS provides consultancy, and engineering, procurement and construction services in the field of water, power and infrastructure sectors. It comes under the Ministry of Jal Shakti. Also, the company provides its services abroad, particularly in South Asia and across Africa in the fields of dam and reservoir engineering, irrigation and flood control. The company's revenue from ..

Rockingdeals Circular Economy files IPO papers to further brand positioning

B2B re-commerce player Rockingdeals Circular Economy Ltd (RDCEL) on Monday said it has filed draft papers to raise funds through an Initial Public Offering (IPO). The shares of the company will be listed on the NSE Emerge, the company said in a statement. The IPO comprises a fresh issue of equity shares of up to 15 lakh equity shares with a face value Rs 10 each through the book-building process. Proceeds from the issue will be utilised towards working capital requirement, brand positioning, marketing, advertising, and general corporate purpose, the company said. The company recently concluded its pre-IPO round comprising a preferential issue of 4,80,130 shares at an issue price of Rs 100 apiece, it said. "We are delighted to reach yet another milestone and get closer to our mission of becoming a publicly listed company," RDCEL Promoter and Managing Director Aman Preet said. Corporate Capital Ventures Pvt Ltd is the book-running lead manager of the IPO. RDCEL is a B2B sourcing .

Updater Services raises Rs 288 cr from anchor investors ahead of IPO

Integrated facilities management company Updater Services Ltd on Friday said it has raised Rs 288 crore from anchor investors days before the launch of its initial public offering (IPO). The firm has allotted 96 lakh equity shares to 18 funds at Rs 300 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website late Friday night. Among the anchor investors that participated in the bidding are Nomura Singapore, Citigroup Global Markets Mauritius Pvt Ltd, BNP Paribas Arbitrage, Societe Generale, ICICI Prudential Mutual Fund (MF), Bandhan MF and Aditya Birla Sun Life Insurance Company. The initial share sale, with a price band of Rs 280-300 per share, will be open for public subscription during September 25-27. The Rs 640-crore IPO will comprise a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer for Sale (OFS) of up to 80 lakh equity shares by a promoter and existing shareholders. Under the OFS, Tangi Facility ...