Page 20 - Ipo Filing

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

Sanstar files IPO papers with market regulator Sebi to raise funds

Plant-based speciality products company Sanstar Ltd has filed its draft papers with capital markets regulator Sebi to raise Rs 425-500 crore through an initial public offering. The total size of the Initial Public Offering (IPO) is up to 4.80 crore equity shares, comprising a fresh issue of up to 4 crore shares and an Offer For Sale (OFS) of up to 80 lakh shares by its promoters and promoter group selling shareholders. As part of the OFS, Gouthamchand Sohanlal Chowdhary, Rani Gouthamchand Chowdhary, Sambhav Gautam Chowdhary, Shreyans Gautam Chowdhary, Richa Sambhav Chowdhary and Samiksha Shreyans Chowdhary will offload the shares of the company, as per the draft red herring prospectus (DRHP). Also, the company may consider a pre-IPO placement of up to 40 lakh equity shares. If such placement is completed, the fresh issue size will be reduced. According to market sources, the IPO size is expected to be Rs 425-500 crore. Going by the draft papers, proceeds from the fresh issue will

Shree Tirupati Balajee Agro, Vraj Iron and Steel file IPO papers with Sebi

Shree Tirupati Balajee Agro Trading Company (STB), and Vraj Iron and Steel have filed their preliminary papers with Sebi to raise funds through initial share sales. The Initial Public Offering (IPO) of STB comprises a fresh issuance of up to 1.30 crore equity shares and an Offer For Sale (OFS) of up to 36.45 lakh shares by its promoter Binod Kumar Agarwal, as per the Draft Red Herring Prospectus (DRHP). In the case of Vraj Iron and Steel, the IPO will be entirely fresh issue of equity shares worth up to Rs 171 crore. According to its DRHP, STB will use the net proceeds from the fresh issue towards debt repayment by the company and its subsidiaries -- Honourable Packaging Pvt Ltd, Shree Tirupati Balajee FIBC and Jagannath Plastics. A portion of the proceeds will also be used towards funding the incremental working capital requirements of the company and general corporate purposes. Madhya Pradesh-based STB is into manufacturing and supplying of Flexible Intermediate Bulk Container

IPO fundraising drops 17% in 2023, 40 firms gave over 10% return on listing

Tata Technologies gave a stupendous return of 163 per cent followed Ideaforge (93 per cent) and Utkarsh Small Finance Bank (92 per cent). 53 of the 57 IPOs are trading above the issue price (closing

India Inc billionaire promoter club: Count swells to record 152 in 2023

Mukesh Ambani back at the top ahead of Gautam Adani

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.

IPO wrap: Motisons Jewellers subscribed 51 times, others above two times

It was the penultimate day of the issue for Muthoot Microfin, Motisons Jewellers, and Suraj Estate Developers

IPO Wrap: Inox subscribed 61x, Muthoot Microfin is off to a good start

Public issuance of RBZ Jewellers, Happy Forging, and Credo Brands will be open for subscription tomorrow

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

Tata Tech IPO: How to check allotment status, listing date, GMP & more

Tata Tech IPO: The shares of Tata Technologies will likely be listed on the bourses (BSE & NSE) on November 30

Fast-fashion retail giant Shein may go public with US IPO filing

The Chinese retail giant, now headquartered in Singapore, is estimated to be valued over $60 billion

Explained: India emerges as global leader in the number of IPOs in 2023

The third quarter of 2023 saw a staggering 21 IPOs in the Indian main market, compared to just four in the same quarter of 2022. India has topped the world in terms of the number of initial public off

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

Muthoot Microfin, Flair Writing, Happy Forgings get Sebi's nod for IPOs

Three companies -- Muthoot Microfin, Flair Writing Industries, and Happy Forgings -- have received capital market regulator Sebi's approval to raise funds through initial public offerings (IPOs). The three companies, which filed their respective preliminary IPO papers with Sebi during July and August, obtained the regulator's observation letters on October 23-27, an update with the markets watchdog showed on Monday. In Sebi's parlance, obtaining an observation letter means it is the go-ahead to launch the public issue. Shares of these companies are proposed to be listed on the NSE and BSE. As per the draft papers, Muthoot Microfin's public issue will comprise a fresh issue worth up to Rs 950 crore and an offer for sale (OFS) to the tune of Rs 400 crore. Through the OFS route, various stakeholders plan to offload shares worth Rs 400 crore. While Greater Pacific Capital WIV Ltd proposes to offload equities worth up to Rs 100 crore, Thomas John Muthoot, Thomas Muthoot and Thomas Geor

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 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