Page 19 - Ipo Filing

Esconet Technologies secures orders from NICSI for servers, object storage

Esconet Technologies said on Wednesday it has secured an order from National Informatics Centre Services Inc (NICSI) to deliver servers and object storage for the Immigration, Visa and Foreigners Registration & Tracking application of the FRRO. The servers and object storage will transform the user experience and provide seamless access to the e-FRRO service, the company said in a release. Esconet, a homegown IT solutions provider firm, will deliver servers and object storage for Immigration Visa Foreigner Registration Tracking application of Foreigners Regional Registration Officer (FRRO), a Ministry of External Affairs agency. "e-FRRO is a web-based application aimed at building a centralised online platform for foreigners for visa-related services. It provides faceless, cashless and paperless services to foreigners with a swift and user-friendly experience," the release said. The IPO-bound Esconet has also got another order to establish a private cloud for CE Infosystems, which

Entero Healthcare Solutions' Rs 1,600 cr IPO to open on February 9

Healthcare products distributor Entero Healthcare Solutions on Tuesday said it has fixed a price band of Rs 1,195-1,258 a share for its Rs 1,600 crore Initial Public Offering (IPO). The initial share sale will open for public subscription on February 9 and conclude on February 13 and the bidding for anchor investors will open on February 8, the company said. Entero Healthcare's IPO is a combination of a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) component of 47.69 lakh equity shares aggregating up to Rs 600 crore at the upper end of the price band. Those selling shares in OFS include Prabhat Agrawal, Prem Sethi, and OrbiMed Asia III Mauritius Ltd. Proceeds from the fresh issue will be used towards payment of debt, funding working capital requirements, pursuing inorganic growth initiatives through acquisitions and general corporate purposes. Entero Healthcare Solutions was founded in 2018 by Prabhat Agarwal and Prem Sethi. The company claims

Alpex Solar IPO to open on Feb 8, sets price band at Rs 109-115/share

Solar energy solutions provider Alpex Solar Ltd on Monday said it has fixed a price band of Rs 109-115 apiece for its Rs 75-crore initial public offering (IPO). The issue will open for public subscription on February 8 and conclude on February 12. The bidding for anchor investors will open for a day on February 7, the Greater Noida-based company said in a statement. The maiden public issue comprises a fresh issue of 64.8 lakh equity shares. At the upper end of the price band, the company aims to mobilise Rs 74.52 crore. Of the IPO proceeds, Alpex plans to utilise Rs 19.55 crore to upgrade and expand its solar module manufacturing facility and increase its capacity from 450 MW to 1.2 GW. Further, Rs 12.94 crore will be used to set up a new manufacturing unit for its solar modules' aluminium frame; Rs 20.49 crore to meet its working capital requirements and the remaining for general corporate expenses. Post the completion of the issue, shares of the company will be listed on the NSE

Capital Small Finance Bank fixes Rs 445-468 as price band for its IPO

Capital Small Finance Bank on Friday fixed Rs 445-468 per share as the price band for its Rs 523-crore initial public offer opening on February 7. The issue consists of Rs 450 crore of fresh issue and the remaining Rs 73 crore of offer for sale through which promoters and external investors will dilute 5 per cent of their pre-issue holdings. The Jalandhar-based bank, which began operations in 2016 after converting itself from a local area bank, is 24 per cent owned by the promoter family led by Sarvjit Singh Sarma and his family, which will come down by to 18.4 per cent post issue, its managing director and chief executive Sarma told PTI here. Oman India Joint Investment Fund II is the single largest external shareholder in the bank, with a 9.5 per cent stake, which will sell its 20 per cent or 8,36,728 shares of its pre-issue holding. External investors own 40 per cent of the bank. American Capital, which owns 5 per cent, will divest 10 per cent or 1,51,153 equity shares, and Amic

Sebi panel for abolishing security deposit requirement in public issues

An expert committee formed by Sebi on Friday suggested to abolish the requirement of a mandatory security deposit with the exchanges before a public issue, a move that could make it easier for companies to access the primary market. Under the current rule, any company that is looking to launch a public or rights issue of equity shares has to deposit with the stock exchanges an amount equal to 1 per cent of the issue size. The deposit is returned to the company after the public issue. In the consultation paper issued by Sebi, the committee suggested that the requirement of 1 per cent security deposit for public or rights issues may be done away with. Explaining the rationale behind the move, the committee said that the requirement of 1 per cent security deposit was put in place for public/rights issues so that an issuer resolves investor complaints relating to the transaction such as for refund of application money, allotment of securities and dispatch of certificates. However, ...

Blackstone-backed Aadhar Housing files Rs 5,000 cr IPO papers with Sebi

Aadhar Housing Finance Ltd, which is backed by private equity major Blackstone, has filed preliminary papers with capital markets regulator Sebi to raise Rs 5,000 crore through an Initial Public Offering (IPO). The IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 4,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday. Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance. The company proposes to utilise the proceeds from the fresh issue to the tune of Rs 750 crore for meeting future capital requirements towards onward lending and a portion will also be used for general corporate purposes. Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property ..

BLS E-Services IPO subscribed 162.48 times on last day of bidding

The Initial Public Offer (IPO) of BLS E-Services received a whopping 162.48 times subscription on the last day of bidding on Thursday. The Rs 311 crore IPO received bids for 2,22,63,80,472 shares against 1,37,02,904 shares on offer, as per NSE data. The part for non-institutional investors fetched 300.14 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 237 times. The category for Qualified Institutional Buyers (QIBs) received 123.30 times subscription. The initial share sale of BLS E-Services Ltd was fully subscribed within minutes of opening for bidding on Tuesday. The IPO of fresh issue of up to 2,30,30,000 equity shares had a price range of Rs 129-135 a share. BLS E-Services Ltd on Monday mobilised Rs 126 crore from anchor investors. The company is a leading technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services; and e-governance services at grass-root levels in

IT products distributor Rashi Peripherals to open Rs 600 cr-IPO on Feb 7

Rashi Peripherals, an information and communications technology products distributor, is set to float its Rs 600 crore-Initial Public Offering (IPO) on February 7. The issue will conclude on February 9 and the bidding for anchor investors will open for a day on February 6, according to the Red Herring Prospectus (RHP). The public issue is a completely fresh issue of equity shares to the tune of Rs 600 crore with no offer-for-sale component. Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes. Mumbai-based Rashi Peripherals Ltd caters to brands like ASUS Global Pte. Ltd, Dell International Services India, HP India Sales and Lenovo India. The company aims to expand its geographic presence in non-metro cities, which includes tier I and tier II cities and other rural geographies which are becoming centres of consumption for ICT products such as personal computers, ..

BLS E-Services IPO subscribed 16x; Epack shares drop 10% on debut

BLS E-Services, an arm of visa application outsourcing firm BLS International, had reported net profit of Rs 15 crore on revenues of Rs 156 crore during the quarter ended September 2023

BLS E-Services IPO opens on Jan 30; price band set at Rs 129-135 per share

Technology-backed service provider BLS E-Services Ltd has set a price band of Rs 129-135 per share for its initial public offering (IPO), that will open for bidding on January 30. The issue will open for public subscription on January 30, and close on February 1, 2024, a company release said. The firm is offering up to 2.3 crore equity shares, excluding pre-IPO placement in the offering. Anchor investor bidding will be on January 29, it added. Investors can bid for a minimum of 108 equity shares and in multiples of 108 thereafter, the company said. "The company proposes to utilise net proceeds from fresh issue of equity shares to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms; funding initiatives for organic growth by setting up of BLS Stores; achieving inorganic growth through acquisitions; and general corporate purposes," it said.

EPACK Durable IPO gets 16.37 times subscription on final day of offer

The initial share sale of EPACK Durable was subscribed 16.37 times on the final day of subscription on Wednesday. EPACK Durable manufactures room air conditioners and small household appliances. The Initial Public Offering (IPO) received bids for 32,70,94,495 shares as against 1,99,77,615 shares on offer, as per NSE data. The category for Non-Institutional Investors (NIIs) got subscribed 28.10 times while the quota for Qualified Institutional Buyers (QIBs) received 25.50 times subscription. The portion meant for Retail Individual Investors (RIIs) fetched 6.29 times subscription. The IPO has a fresh issue of Rs 400 crore and an Offer For Sale (OFS) of up to 1,04,37,047 equity shares. The price band was fixed at Rs 218-230 a share. EPACK Durable raised Rs 192 crore from anchor investors on January 18. At the upper end of the price band, the public issue is expected to mobilise Rs 640 crore. Founded in 2002, the company has integrated manufacturing facilities in Dehradun (Uttarakh

Swiggy shareholder Prosus may receive promoter tag in platform's IPO launch

Prosus holds around 33% of shares of the food delivery platform and has been looking to reduce it to under 26%

India's IPO market one of the busiest in world but it is also broken

It's the regulator's job to ensure that companies with reasonably solid prospects come to public markets and offer stock at a price that allows long-term wealth creation

Sebi to crack down on inflation of IPO subscription, spots such 3 cases

Regulator considering policy review and enforcement action against merchant bankers, says Madhabi Puri Buch

EPACK Durable IPO subscribed 77% on first day of listing: NSE data

The initial public offering of EPACK Durable, an outsourced design manufacturer of room air conditioners, got subscribed 77 per cent on the first day of subscription on Friday. The initial share sale received bids for 1,53,54,560 shares, as against 1,99,77,615 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 1.17 times while the portion for non-institutional investors attracted 82 per cent subscription. The Qualified Institutional Buyers (QIBs) part got subscribed 1 per cent. The Initial Public Offering (IPO) has a fresh issue of Rs 400 crore and an offer-for-sale of up to 1,04,37,047 equity shares. The IPO has a price range of Rs 218-230 a share. EPACK Durable Ltd on Thursday raised Rs 192 crore from anchor investors. At the upper end of the price band, the public issue is expected to mobilise Rs 640 crore. Proceeds of the fresh issue will be utilised for funding capital expenditure for the setting up of manufacturing faciliti

Rashi Peripherals raises Rs 150 cr pre-IPO from institutional investors

The round saw participation from institutional investors such as Volrado Venture Partners Fund and Madhuri Madhusudan Kela

Reddit may launch IPO in March, nearly 3 years since its initial filing

Delays in IPO launch may be due to unstable market conditions and Reddit's goal to 'come closer to profitability'

Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round

Last year, Udaan raised $350 million in convertible notes and debt from shareholders and bondholders, with no change in valuation

IIFCL plans to launch IPO in next financial year, unlock value for govt: MD

State-owned India Infrastructure Finance Company Ltd (IIFCL) plans to go public in the next financial year, company's Managing Director P R Jaishankar said on Friday. "We are examining the listing...hopefully it should be done next financial year. IIFCL has come to a stage where we unlock the value for the benefit of the government," he said on the sidelines of the company's foundation day. The company will very soon initiate the consultation process, he said, adding various approvals are required including from the government. Asked about the quantum of stake dilution, he said, the decision about that would be taken after detailed discussion. As of now, IIFCL is 100 per cent owned by Government of India. From the performance perspective, he said the company has been consistent both on topline and bottomline parameters. He expects the FY24 profit to cross Rs 1,500 crore. IIFCL reported a two-fold jump in standalone net profit to Rs 1,076 crore for FY23 aided by an increase in le

Majority of Indian startups eyeing IPOs in 2024 struggle with losses

Of the 12 startups looking to launch IPOs this year, eight have incurred a cumulative loss of Rs 8,000 crore, including Swiggy, and Ola Electric