Page 50 - Ipo

Sebi keeps in abeyance the proposed IPO sale of securities depository NSDL

Capital markets regulator Sebi has kept in 'abeyance' the proposed initial share sale of securities depository NSDL. However, the Securities and Exchange Board of India (Sebi) did not clarify further. The National Securities Depository Ltd (NSDL) filed its preliminary papers with the capital markets regulator on July 7. Going by the draft papers, NSDL's proposed initial public offering (IPO) is a complete offer-for-sale (OFS) of more than 5.72 crore equity shares by existing shareholders. Under the OFS, IDBI Bank plans to offload 2.22 crore shares, National Stock Exchange (NSE) 1.80 crore shares, Union Bank of India 56.25 lakh shares, State Bank of India and HDFC Bank will offload 40 lakh shares each. Also, Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) will sell 34.15 lakh shares of the Mumbai-based depository. IDBI Bank and National Stock Exchange (NSE) held 26.10 per cent and 24 per cent, respectively, of the share capital of NSDL. A certain por

Aeroflex Industries gets Sebi's clearance to raise money through IPO

Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has received capital markets regulator Sebi's go ahead to raise funds through an initial share-sale. The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter entities -- Sat Industries and Italica Global FZC, according to the draft red herring prospectus (DRHP). The OFS comprises sale of 1.23 crore shares by Sat Industries Ltd and up to 52 lakh shares by Italica Global FZC. At present, Sat Industries owns 92.18 per cent stake in the company, while Italica Global FZC holds 6.52 per cent stake. "We have been informed by Aeroflex Industries Ltd, our subsidiary, that it has got clearance from the Securities and Exchange Board of India (Sebi) for its IPO, subject to the submission of requisite documents as per the final observation letter dated July 31," Sat Industries said in a regulatory filing on ...

Jhunjhunwala-backed Concord Biotech eyes to raise Rs 1,550 cr through IPO

The late Rakesh Jhunjhunwala-backed firm sets price band of Rs 705-Rs 741 a share

Fedbank Financial Services to raise up to Rs 1,400 cr from IPO this year

Fedbank Financial Services is aiming to raise up to Rs 1,400 crore through an Initial Public Offering (IPO) by the end of 2023, a top official at its promoter entity Federal Bank has said. The Non-Banking Finance Company (NBFC) arm of the South-based bank re-filed its Draft Red Herring Prospectus for an IPO last week, after the previous go-ahead lapsed as choppy market conditions prevented it from moving ahead. "They (Fedfina) are looking at an IPO of somewhere in the Rs 1,200-1,400 crore range... We are looking to do something in the course of calendar 2023," Federal Bank's managing director and chief executive Shyam Srinivasan told PTI in an interaction. He said the NBFC arm is growing well and has adequate capital to take care of growth requirements till early 2024. Capital markets regulator Sebi will take some time to go through the papers and issuance can happen in the next 90-100 days, he said. The retail finance-focused company plans to raise up to Rs 750 crore through a fr

BankBazaar.com hopes to breakeven this fiscal, to file DRHP for IPO next yr

Fintech firm BankBazaar.com expects its bottomline to turn positive this financial year helped by newer products including co-branded credit cards on UPI. Post breakeven, the company would start the preparation for listing and hopes to file the Draft Red Herring Prospectus for initial public offering (IPO) in the next financial year, BankBazaar.com founder and CEO Adhil Shetty told PTI. The company which started off as a loan comparison platform in 2008, is now majorly into co-branded credit card space, issuing such cards in association with banks. The company expects to soon launch co-branded credit cards on UPI, he said, adding that this is going to accelerate revenue as demand for credit is high. Besides, he said, targeted no-cost EMIs every month are going to add to topline and the company is set to push revenue to over Rs 250 crore in FY24 with profit. During the first quarter, the company posted a 51 per cent increase in revenue driven by its portfolio of co-branded credit c

Yatharth Hospital IPO subscribed 36.16 times on last day of subscription

The Initial Public Offering (IPO) of Yatharth Hospital and Trauma Care Services was subscribed 36.16 times on the last day of subscription on Friday. The Rs 686.55 crore-initial share sale received bids for 59,72,19,800 shares against 1,65,17,823 shares on offer, as per BSE data. The portion for qualified institutional buyers received 85.10 times subscription while the non-institutional investors part was subscribed 37.22 times. The retail individual investors category was subscribed 8.34 times. The IPO comprised a fresh issue aggregating up to Rs 490 crore and an offer for sale of up to 65,51,690 equity shares. The IPO had a price range of Rs 285-300 a share. The initial public offering of Yatharth Hospital was fully subscribed on the first day of subscription on Wednesday. Yatharth Hospital & Trauma Care on Tuesday said that it collected Rs 206 crore from anchor investors. The company said it intends to utilise the net proceeds for repayment of debt, funding capital expenditur

Oriana Power IPO to open on Aug 1; fixes price band at Rs 115-118 per share

Noida-based solar energy solutions provider Oriana Power on Tuesday said it has set a price band of Rs 115-118 per share for its Initial Public Offering (IPO), which will hit the capital market on August 1. The bidding for anchor investors will open on July 31 and the public issue will conclude on August 3, the company said in a statement. The company's shares will be listed on SME Emerge platform of the National Stock Exchange. The IPO of Oriana Power will comprise 50.55 lakh equity shares with a face value of Rs 10 each.. The firm will use the IPO proceeds to fund its working capital requirements, investment in subsidiary companies, capital expenditure and general corporate purposes. Corporate Capital Ventures is the lead manager of the IPO while Skyline Financial Service is the registrar. The company recently closed its pre-IPO round, with investments from JSW Energy's Prashant Jain, Meru Founder Neeraj Gupta and MSMEx's Amit Kumar, among others.

TVS Supply Chain Solutions gets Sebi's approval for launching IPO

It will be the first IPO by TVS family company in three decades, after TVS Electronic in 1994

Shri Techtex IPO to open on July 26; fixes price band at Rs 54-61/share

At the upper end of the price band, the issue plans to raise Rs 45.14 crore. The issue comprises a fresh issue of 74 lakh equity shares

Foxconn's Bharat FIH rolls back plan to raise Rs 5,000 cr via IPO: Report

The decision has been taken due to weak smartphone market conditions and changes in the company's internal strategy

Utkarsh Small Finance Bank makes solid debut with 60% listing gains

Shares of Utkarsh Small Finance Bank listed at Rs 40, a 60 per cent premium over its issue price of Rs 25 per share on the National Stock Exchange (NSE) on Friday

Definitely not listing this year, says boAt co-founder Gupta on IPO plans

Audio and wearables brand boAt, which had earlier deferred its public share sale plans amid stock market volatility, is "not in a hurry" to go for a listing, and is looking at FY25-FY26 timeframe for the IPO, co-founder Aman Gupta said. In an exclusive chat with PTI on wide-ranging issues, Gupta said that his startup is "well capitalised" for now. There was a phase when startup IPOs were in fashion but then the markets turned choppy, Gupta recounted. "We don't need to go for an IPO, as such. We can do that after a few years also... So, maybe FY25-FY26 is what we're looking... We're not in a hurry to list," Gupta said. boAt's listing is "definitely not this year", he added. The entrepreneur and investor whose stint with Shark Tank India has made him a household name, was among the invitees at an official delegation during Prime Minister Narendra Modi's recently-concluded visit to Paris. At the Indo-French CEO Forum last week, Gupta spoke about the rise of entrepreneurship and chan

Netweb Technologies IPO subscribed 2.33 times on Day 1 of offer on Monday

The initial public offering of Netweb Technologies was subscribed 2.33 times on the first day of the offer on Monday. The three-day Rs 631-crore initial share sale received bids for 2,06,05,860 shares against 88,58,630 on offer, according to NSE data. The non-institutional investors' category received 3.61 times subscription while the retail individual investors (RIIs) portion was subscribed three times. The Qualified Institutional Buyers (QIBs) portion was subscribed 3 per cent. The initial public offering (IPO) has a fresh issue of up to Rs 206 crore and an offer for sale of up to 85,00,000 equity shares. The price range for the offer is Rs 475-500 a share. Homegrown server maker Netweb Technologies had on Friday said it has collected Rs 189 crore from anchor investors. Proceeds of the fresh issue to the tune of Rs 32.77 crore will be used to fund capital expenditure, Rs 128.02 crore to support long-term working capital, and Rs 22.5 crore for debt payment, besides general corpo

Top headlines: Ola advances plan for IPO, Govt's FDI push in space sector

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Pen maker Flair Writing Industries files Rs 745-cr IPO papers with Sebi

Pen maker Flair Writing Industries Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 745 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 365 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 380 crore by promoters and promoter group entities, according to the draft red herring prospectus (DRHP) filed on Friday. Those offering shares in the OFS are -- Khubilal Jugraj Rathod, Vimalchand Jugraj Rathod, Nirmala Khubilal Rathod, Manjula Vimalchand Rathod, Rajesh Khubilal Rathod, Mohit Khubilal Rathod, Sumit Rathod; Sangita Rajesh Rathod; Shalini Mohit Rathod and Sonal Sumit Rathod. At present, promoters and promoter group entities own a 100 per cent stake in the company. The company proposes to utilize the net proceeds of the fresh issue for setting up a manufacturing facility for writing instruments at Valsad district, in Gujarat; funding its capital expenditure and its

Oriana Power plans to raise up to Rs 60 crore through IPO, says CEO

Oriana Power plans to come out with an Initial Public Offering (IPO) by the end of this month or early August to raise up to Rs 60 crore, its CEO Rupal Gupta said on Friday. The proceeds will be utilised towards working capital, asset building and technology upgradation, Gupta said at a press conference. The Draft Red Herring Prospectus (DRHP) has been filed for listing of shares on NSE Emerge. Gupta said the IPO is expected to hit the market by the end of this month or the first week of August. "We aim to raise around Rs 55-60 crore from the IPO," he added. As per the DRHP, the three promoters (Rupal Gupta, Anirudh Saraswat and Praveen Kumar) currently hold 83.40 per cent in the company. Post issue, the promoters' stake in the company will reduce to 61.41 per cent. Noida-based Oriana Power is a leading solar energy solution providers for their industrial and commercial customers.

Homegrown server maker Netweb Technologies to float IPO on July 17

The initial share sale of homegrown server maker Netweb Technologies India will open on July 17 for public subscription. The three-day Initial Public Offering (IPO) will conclude on July 20 and the bidding for anchor investors will open on July 14, according to the Red Herring Prospectus (RHP). The IPO comprises a fresh issue of equity shares worth Rs 206 crore and an Offer For Sale (OFS) of 85 lakh equity shares by promoters. Those selling shares in the OFS are Sanjay Lodha, Vivek Lodha, Navin Lodha, Niraj Lodha and Ashoka Bajaj Automobiles LLP. Proceeds of the fresh issue to the tune of Rs 32.77 crore will be used to fund capital expenditure, Rs 128.02 crore to support long-term working capital, Rs 22.5 crore for debt payment, besides, general corporate purposes. Delhi NCR-based Netweb Technologies is one of the country's leading high-end computing solutions providers. It is one of the few original equipment manufacturers in the country and is a recipient of production-linked ..

SBI to sell 2% equity stake in IPO-bound NSDL through offer for sale

State Bank of India (SBI) on Monday said it proposes to sell 2 per cent stake by offloading 40 lakh shares in depository organisation NSDL. The bank intends to participate in an Initial Public Offering (IPO) of National Securities Depositories Limited (NSDL), SBI said in a regulatory filing. SBI holds 5 per cent stake in the NSDL while it intends to divest 2 per cent in the Offer For Sale (OFS) subject to the terms of the proposed IPO, it said. NSDL is a depository set-up to carry on, regulate and manage the business of providing depository and clearing and settlement services in respect of securities and instruments of all kinds. It has three operating segments -- depository, database management services, and banking services.

ESAF Small Finance Bank refiles IPO paper, lowers issue size to Rs 629 cr

ESAF Small Finance Bank has refiled preliminary papers with capital markets regulator Sebi to raise Rs 629 crore through an initial public offering (IPO). The lender has cut down the issue size, which now comprises fresh issue equity shares aggregating to Rs 486.74 crore and an offer for sale (OFS) of Rs 142.3 crore, according to the draft red herring prospectus (DRHP) available with Sebi on Monday. Those selling shares in the OFS are promoter -- ESAF Financial Holdings Private Ltd and other shareholders -- PNB MetLife India Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd. At present, ESAF Financial Holdings owns a 62.46 per cent stake in the small finance bank, while PNB MetLife and Bajaj Allianz Life owns 4.75 per cent and 3.89 per cent stake in the lender, respectively. Proceed of the fresh issue will be utilised to augment the bank's Tier 1 capital base. The fresh filling came after ESAF Small Finance Bank's managing director and chief executive K Paul Thomas i

Kaka Industries IPO to open on Jul 10 at Rs 55-58/share; to list on BSE SME

Polymer-based profiles manufacturer Kaka Industries on Friday said that it has fixed a price band of Rs 55-58 a share for its initial public offering, which will open on July 10. The initial public offering (IPO) will conclude on July 12. The bidding for anchor investors will open on July 7. The shares of the company will be listed on BSE SME, a platform for small and medium enterprises, the company said in a statement. The company will issue 36.60 lakh equity shares through the offer. At the upper end of the price band, the company is looking to raise Rs 21.23 crore through its initial share sale offer. The company manufactures polymer-based profiles for application in doors, windows, partitions, false ceilings, wall paneling, kitchen cabinets, office furniture and other interior and exterior works. It has 20,000 MT production capacity, 300 dealers across 20 states and UTs and three depots. Its product range includes more than 1,200 Stock Keeping Units (SKU) in various dimensions.