Page 8 - Ipo India

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

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 ..

3 PE firms offload 7.9% in Mankind; Motisons Jewellers IPO to open Dec 18

The deals took place at around Rs 1,832 apiece. Shares of Mankind fell 3.6 per cent to close at Rs 1,849

IREDA IPO subscribed 38.8 times; Tata Technologies, Gandhar at 15x

IREDA has set the price band for its IPO between Rs 30 and Rs 32 per share

Biz focus will be on growth while improving profitability: Honasa CEO

The number one driver is, as our brands are scaling, we are seeing strong efficiency and leverage in our A&P (advertising and promotions) spends: Varun Alagh

Fedbank Financial raises Rs 330 cr; Ireda IPO subscribed 2x on Day 1

Unifi Capital on Tuesday received Securities and Exchange Board of India's (Sebi) in-principle nod to set up a mutual fund house

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 .