Page 25 - Ipo

KRN Heat Exchanger files draft papers with Sebi to raise funds via IPO

KRN Heat Exchanger and Refrigeration Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO). The initial share sale is entirely a fresh issue of 1.93 crore equity shares with no Offer for Sale (OFS) component, draft red herring prospectus (DRHP) filed with Sebi showed on Thursday. Funds will be used for investment in wholly-owned subsidiary KRN HVAC Products for setting up a new manufacturing facility at Neemrana, Alwar, in Rajasthan. The company manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry. According to the Dun and Bradstreet Research Report, the Indian market for heat exchanges reached USD 625 million per annum in 2022, with an annual industry turnover increasing by a CAGR of 10 per cent between 2019 and 2022. Holani Consultants is the sole book-running lead manager to the issue.

Officer's Choice whisky maker Allied Blenders files IPO papers with Sebi

Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, has refiled preliminary papers with the capital markets regulator Sebi to raise Rs 1,500 crore through an Initial Public Offering (IPO). The initial share sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-For-Sale (OFS) of shares to the tune of Rs 500 crore by promoters, draft papers file with Securities and Exchange Board of India (Sebi) showed on Thursday. As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. Out of the total proceeds from the fresh issue, Rs 720 crore will be used for the payment of debt, besides a portion will be used for general corporate purposes. As of December 2023, the company had a debt of around Rs 808 crore, according to the draft papers. With a market share of 8.2 per cent in Indian-Made Foreign Liquor (IMFL) in fiscal 2023, Allied Blenders and Distillers had earlier filed draft

Medi Assist healthcare IPO subscribed 54% on first day of bidding

Medi Assist covers over 18,000 hospitals across 1,069 cities and 31 states and has 35 insurers as partners

Flipkart eyes profitability ahead of IPO; looks to go public in 1 -2 years

Flipkart Internet, the marketplace arm of the e-commerce giant, recently reported a 42 per cent growth in operating revenue for FY23 at Rs 14,845 crore

Ahead of IPO, Medi Assist mobilises Rs 351 crore from anchor investors

The company has allotted 84.08 lakh equity shares to 36 funds at Rs 418 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website

Road to listing may get easier: Sebi expert panel for relaxing IPO norms

India Inc may get more flexibility to alter issue size, bring in promoter contribution

Jyoti CNC Automation IPO booked 38.5x on last day of subscription

Sebi warns Fortis for delaying disclosures about lawsuit in US

Sajjan Jindal's JSW Cement begins talks with i-bankers for Rs 6k cr listing

The Sajjan Jindal-led JSW group is likely to list its cement business after the general elections

Sebi puts Manappuram Finance's arm Asirvad Micro Finance IPO on hold

Reacting to the development, shares of Manappuram Finance plunged as much as 7.45% to a low of Rs 163.40 apiece on the BSE on Wednesday

Tata Group to explore IPO for its auto component arm, Tata Autocomp Systems

Tata Autocomp Systems is wholly owned by Tata Group entities, with Tata Sons holding approximately 21%, and the remaining stake held by Tata Industries Ltd

Mobikwik refiles draft papers as it trims IPO size down to Rs 700 cr

Earlier in 2021, it had targeted to raise Rs 1,900 cr but withdrew due to weak market conditions

Sequoia-backed MobiKwik refiles DRHP with Sebi for Rs 700 crore IPO

MobiKwik will consider a pre-IPO placement of Rs 140 crore and if this pre-placement is completed, the fresh issue size will be reduced

US-based fund manager Invesco marks up Swiggy's valuation to $8.3 billion

In October last year, Invesco had marked up the value of its stake in the food aggregator platform to $7.85 billion, after back-to-back valuation cuts

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

Cybersecurity firm TAC considering IPO in 2024 among options to raise funds

Company provides services to NPCI, BSE and NSE and has clients abroad

Nephrocare India raises Rs 8.08 crore in pre IPO round, eyes 300 clinics

Founded in 2014, Nephrocare India operates three kidney care clinics in West Bengal and a flagship holistic healthcare facility in Salt Lake, Kolkata

Kolkata-based Nephrocare India secures Rs 8.08cr in pre-IPO funding

Nephrocare India, a Kolkata-based comprehensive renal care institution, has raised Rs 8.08 crore in its pre-IPO round paving the way for its expansion plans, the company said on Friday. The funding saw participation from marquee investors, who include former HDFC chairman Deepak Parekh, HDFC Securities chairman Bharat Shah, and founder and MD of Macleods Pharmaceuticals Rajendra Agarwal, it said. The fresh infusion of capital will fuel Nephrocare India's target of establishing 22 high-end kidney care facilities across India by March 2026. Four centres are expected to be operational by the end of the current fiscal, the company said in a statement. Its long-term vision is to establish 300 Nephrocare centres across the country within the next 8-10 years. Highlighting the critical need for such expansion, company officials pointed out the vast demand for kidney care units in India, the statement said. With an estimated seven crore patients struggling with chronic kidney diseases and

SoftBank set to offload over 16% stake as part of OFS in FirstCry's IPO

PI Opportunities Fund-1 is expected to offload over 36 per cent stake and Mahindra & Mahindra would sell over 5 per cent stake as part of the IPO

Ratan Tata to divest all his 77,900 shares of FirstCry in upcoming IPO

Veteran industrialist and former Tata Group Chairman Ratan Tata is looking to sell all 77,900 shares of Brainbees Solutions Ltd, which owns omnichannel baby and mother-care product platform FirstCry, in the upcoming IPO. Tata became an investor in the company in 2016 by infusing Rs 66 lakh initially. He was allotted preference shares of the company. According to the draft red herring prospectus (DRHP) filed on Thursday, Tata is offering to sell his entire 77,900 shares, amounting to a 0.02 per cent stake, of FirstCry. The Pune-based company's proposed Initial Public Offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 1,816 crore and an Offer For Sale (OFS) of up to 5.44 crore equity shares by existing shareholders, as per the draft papers. As a part of the OFS, SVF Frog, a Cayman Islands-registered entity of Softbank, will sell 2.03 crore equity shares of Brainbees Solutions Ltd, and automaker Mahindra & Mahindra (M&M) will offload 28.06 lakh shares of

Year Ender: 10 big events that shaped the Indian corporate world in 2023

From Hindenburg's report on the Adani Group to the signing of the biggest aircraft orders by Air India and Indigo, India saw several important corporate news in 2023. Here are the 10 most significant