Page 51 - Ipo Market

Entero Healthcare Solutions set to launch Rs 1,600-crore IPO on February 9

In FY23, Entero Healthcare reported Rs 33,00.20 crore in revenue from operations with a gross profit of Rs 268.34 crore

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

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 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.

Nova Agritech IPO subscribed 33.82x on Day 2; NII category booked 71.19x

The Initial Public Offering (IPO) of Nova Agritech Ltd, a manufacturer of agricultural inputs, got subscribed 33.82 times on the second day of subscription on Wednesday. The IPO received bids for 85,96,22,815 shares against 2,54,14,746 shares on offer, as per NSE data. The category for Non-Institutional Investors (NIIs) received 71.19 times subscriptions, while the portion for Retail Individual Investors (RIIs) subscribed 36.19 times. Qualified Institutional Buyers (QIBs) part got subscribed 1.12 times. The IPO comprises a fresh issue of equity shares worth up to Rs 112 crore and an Offer For Sale (OFS) component of 77.58 lakh equity shares by a shareholder Nutalapati Venkatasubbarao, who owns an 11.9 per cent stake in the company. On Friday, Nova Agritech had raised a little over Rs 43 crore from anchor investors. It has set a price band of Rs 39-41 per share for the issue. At the upper end of the price band, the maiden public issue is expected to mobilise Rs 143.81 ...

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

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

Bonanza for IPOs in 2023, 55 of 59 stocks trading above issue price

Analysts attribute these gains in the newly listed stocks to buoyant secondary markets, the enthusiastic participation of retail investors in IPOs, and strong foreign portfolio investor flows (FPIs)

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.

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

DOMS Industries IPO receives 15.16 times subscription on day two of offer

The initial share sale of pencil maker DOMS Industries received 15.16 times subscription on the second day of offer on Thursday. The Rs 1,200 crore Initial Public Offer (IPO) received bids for 13,39,90,938 shares against 88,37,407 shares on offer, according to data available with the NSE. The Retail Individual Investors (RIIs) part received 41.07 times subscription while the quota for non-institutional investors got subscribed 25.77 times. The category for Qualified Institutional Buyers (QIBs) got subscribed 1.18 times. The IPO has a fresh issue of up to Rs 350 crore and an offer for sale component of Rs 850 crore. Price range for the offer is Rs 750-790 a share. The IPO of DOMS Industries got fully subscribed within hours of opening for bidding on Wednesday and finally ended the day with 5.71 times subscription. DOMS Industries has raised Rs 538 crore from anchor investors. Funds raised through the fresh issue would be used for setting up a new manufacturing facility to expand

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 ..

India Shelter Finance IPO: Should you invest in this housing finance firm?

Here's what brokerages recommend investors should do, with this Rs 1,200 crore IPO which closes for subscription on Friday, December 15.

T+0 settlement will be a watershed moment for us: Gurpreet Sidana, Religare

Broking industry has moved beyond pricing, additional exposure limits, and tips, says Gurpreet Sidana, chief executive officer at Religare Broking

Sebi removes NSDL IPO from abeyance; Oil drops close to July low

Inox India's and Stanley's IPO comprise secondary share sale of 22.11 million and 9.13 million shares, respectively

TMS Ep576: GDP data, lessons from tunnel fiasco, Henry Kissinger & more

What do the good Q2 GDP numbers tell us? What lessons does the Silkyara tunnel fiasco teach? Why are investors betting big on IPOs? What made Henry Kissinger important? All answers here

Tata Technologies to boost India's hot IPO market on trading debut

Tata Technologies' IPO raised Rs 3,040 crore ($365 million), with shares being sold at Rs 500 each, the top of the marketed range. Demand exceeded shares on offer by 69 times, as investors piled

Renewables lender IREDA hits over $1.8 bn valuation in trading debut

Shares of IREDA, which were listed at 50 rupees, climbed to a high of 57.75 rupees, well above their initial public offer (IPO) price of 32 rupees