Page 8 - Ipo India

CIEL Group acquires strategic stake in Courseplay, plans IPO in FY25

HR solutions provider says acquisition will help it expand business abroad

Ather Energy picks HSBC, JPMorgan, Nomura, Indian banks to arrange its IPO

Tarun Mehta and Swapnil Jain founded Ather in 2013 after graduating from the Indian Institute of Technology Madras

Mukka Proteins IPO receives 136.89 times subscription on last day of offer

The initial share sale of Mukka Proteins, which manufactures fish meal, fish oil and fish soluble paste, received 136.89 times subscription on the last day of bidding on Monday. The Rs 224 crore-Initial Public Offer (IPO) got bids for 7,66,57,65,155 shares against 5,60,00,435 shares on offer, according to data available with the NSE. The portion for non-institutional investors got subscribed 250.26 times, while the portion for Qualified Institutional Buyers (QIBs) received 189.28 times subscription. The quota for Retail Individual Investors (RIIs) fetched 58.36 times subscription. The company fixed the price band at Rs 26-28 a share for the IPO. The issue was entirely a fresh issue with no Offer For Sale (OFS) component. Mukka Proteins on Wednesday raised a little over Rs 67 crore from anchor investors. Of the total proceeds, Rs 120 crore will be used towards working capital requirements and up to Rs 10 crore for investment in its associate, Ento Proteins, for funding its working

Healthtech unicorn Pristyn Care lays off 120 employees, eyes profitability

This is the second time the firm has laid off employees. Pristyn had, in March last year, reportedly laid off 45 employees due to poor performance

Bharat Highways InvIT's Rs 2,500 crore IPO fully subscribed on day two

The Initial Public Offer (IPO) of Bharat Highways InvIT got fully subscribed on the second day of bidding on Thursday. The IPO received bids for 10,57,27,500 units against 10,30,12,800 units on offer, translating into 1.03 times subscription, according to data available with the NSE. The category for other investors received 2.24 times subscription and the quota for institutional investors got subscribed 2 per cent. The initial public offer aggregating up to Rs 2,500 crore is in a price range of Rs 98-100 per unit. Bharat Highways InvIT on Tuesday said it collected Rs 826 crore from anchor investors. Proceeds from the issue will be utilised to provide loans to the project SPVs (Special Purpose Vehicles) for repayment of their outstanding loans. Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. Its initial portfolio consists of seven road assets, all operating on HAM (Hybrid Ann

Platinum Industries' Rs 235 crore IPO subscribed 98.99 times on closing day

Platinum Industries' initial public offering got subscribed 98.99 times on the closing day of subscription on Thursday. The Rs 235 crore-initial share sale received bids for 95,35,53,843 shares against 96,32,988 units on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) got 151 times subscription, while the quota for non institutional investors received 141.80 times subscription. The part for Retail Individual Investors (RIIs) got subscribed 50.92 times. The Initial Public Offer (IPO) had a fresh issue of up to 1,37,61,225 equity shares. It had a price range of Rs 162-171 a share. Platinum Industries mobilised over Rs 70 crore from anchor investors. It is a multi-product company engaged in the business of manufacturing stabilisers. Unistone Capital was the manager to the offer.

Mukka Proteins Rs 224 crore IPO subscribed 2.47 times on Day 1 of offer

The initial public offer of Mukka Proteins, which manufactures fish meal, fish oil and fish soluble paste, was subscribed 2.47 times on the first day of bidding on Thursday. The Rs 224 crore-initial share sale received bids for 13,81,99,060 shares against 5,60,00,435 shares on offer, as per NSE data. The Retail Individual Investors (RIIs) part fetched 3.69 times subscription, while the quota for non institutional investors got subscribed 1.55 times and the portion for Qualified Institutional Buyers (QIBs) received 1.01 times subscription. The Initial Public Offer (IPO) of up to 8 crore equity shares is in price range of Rs 26-28 a share. The issue is entirely a fresh issue with no Offer For Sale (OFS) component. Mukka Proteins on Wednesday raised a little over Rs 67 crore from anchor investors. Of the total proceeds, Rs 120 crore will be used towards working capital requirements and up to Rs 10 crore for investment in its associate, Ento Proteins, for funding its working capital .

RK Swamy to launch Rs 173 cr IPO, OFS of 8.7 mn equity shares on Mar 4

Integrated marketing services firm RK Swamy Ltd is set to float its initial public offering on March 4. The initial share sale will conclude on March 6 and the bidding for anchor investors will open for a day on March 1, according to the Red Herring Prospectus (RHP). The company's proposed Initial Public Offering (IPO) comprises a fresh issue of shares aggregating up to Rs 173 crore and an Offer For Sale (OFS) of up to 87 lakh equity shares by selling shareholders, according to the Draft Red Herring Prospectus (DRHP). Those offering shares in the OFS are Srinivasan K Swamy, Narasimhan Krishnaswamy, Evanston Pioneer Fund L.P, and Prem Marketing Ventures LLP. RK Swamy Ltd. Funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aided telephonic interview centres as well as for general corporate purposes. Also, funds would be utilised for investment in the IT infrastructure

GPT Healthcare's Rs 525 cr IPO gets 85% subscription on second day of offer

The initial share sale of GPT Healthcare Ltd, which operates and manages mid-sized multi-specialty hospitals under the ILS Hospitals brand, received 85 per cent subscription on the second day of the offer on Friday. The Initial Public Offering (IPO) received 1,67,51,920 bids for shares against 1,97,63,327 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 1.24 times, while the quota for non-institutional investors received 79 per cent subscription. The portion for Qualified Institutional Buyers (QIBs) received 19 per cent subscription. On Wednesday, GPT Healthcare Ltd said it has collected Rs 157.54 crore from anchor investors. The Rs 525 crore IPO is a combination of a fresh issue of equity shares aggregating to Rs 40 crore and an Offer For Sale (OFS) of up to 2.6 crore equity shares by private equity firm BanyanTree Growth Capital II. BanyanTree, which holds 2.6 crore shares, or 32.64 per cent stake, in Kolkata-based GPT Healthca

Agilus Diagnostics to withdraw DRHP filed with market regulator Sebi

The company added that making the necessary application to Sebi for withdrawal of the said DRHP immediately and may re-file with Sebi again for a proposed IPO in future

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

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 fully subscribed within minutes of subscription opening

The Initial Public Offering (IPO) of BLS E-Services Ltd was fully subscribed within minutes of opening for subscription on Tuesday. The Rs 311-crore IPO received bids for 5,83,39,440 shares against 1,37,02,904 shares on offer, translating into 4.26 times subscription, as per NSE data till 11:57 hours. The quota for Retail Individual Investors (RIIs) fetched 14.21 times subscription, while the category for non-institutional investors got subscribed 4.71 times. The portion for Qualified Institutional Buyers (QIBs) received 2.04 times subscription. The initial public offering has a fresh issue of up to 2,30,30,000 equity shares. It has a price range of Rs 129-135 a share. BLS E-Services Ltd on Monday mobilised Rs 126 crore from anchor investors. The company proposes to utilise net proceeds from the fresh issue to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms, among others. The money will also be used to fund initiatives f

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

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

Delightful year for IPO investors as 54 of 59 issues return 45% on average

In a year when the key equity benchmarks scaled new highs and rallied nearly 20 per cent making investors richer by close to Rs 82 lakh crore, IPO investors laughed all the way to the bank as 55 of the 59 issues gave them handsome returns of 45 per cent on average. In fact, 2023 turned out to be an outlier for primary market investors when 59 companies hit the street, raising Rs 54,000 crore, and returned over 45 per cent more than the issue prices on average, according to exchange data. This means that more than two-thirds of companies outperformed benchmark indices which rallied close to 20 per cent in the year. The average listing gain for all the 59 IPOs is 26.3 per cent and their average gain as of December 29 is 45 per cent and only four of the 59 main-board IPOs are traded below the issue price on the trading session of the year on December 29. As much as 23 of the 59 issues rallied more than 50 per cent since listing and of them, nine gave more than two-fold gains over the

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.

Lifting startups from the governance hole

Founders must prioritise governance from the outset rather than deferring it until just before the IPO if they want to create long-term value

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