Page 53 - Ipo

Street signs: Defence stocks may rise, Mankind Pharma IPO, and more

After having recorded seven straight months of outflows, equity savings schemes are expected to witness a change of fortune in the months ahead

Top headlines: Amritpal arrested, Reliance withdraws RNEL merger proposal

Business Standard brings you top headlines at this hour

Global IPO market shows signs of life even as recession fears persist

The global market for initial public offerings is showing signs of life as a rebound in the stock market has emboldened companies to test investor appetite for new listings, particularly in Asia

Deal activity declines 35% to $9.7 bn in March 2023 quarter: Report

Deal activities declined 35 per cent to USD 9.7 billion across 332 transactions in the first quarter of 2023 due to an overall decline in deal activities as the fear of a global recession has gained more traction amid the continuing war on Ukraine, according to an industry report. Of the total deals, M&As constituted more than half, still lower by 21 per cent at USD 4.4 billion involving 76 deals, down 56 per cent during the March quarter, according to the data collated by Grant Thornton. In volume terms, overall deals fell by 46 per cent to 332 transactions. The main reason for the poor show was the tepid IPO market, which plunged to USD 84.4 million from USD 1 billion in Q1 of 2022. On the other hand, QIP witnessed two fundraise -- Spicejet's cargo and logistics business raising USD 301 million, followed by Data Patterns raising USD 60 million. However, it was less than USD 541 million in Q1 of 2022. Another reason is the deepening funding winter, resulting in PE activity ...

Blackstone arm to launch India's first retail REIT, raise Rs 4,000 cr

The retail REIT public offer is expected to raise around Rs 4,000 crore, of which Rs 1,600 crore would be primary public offerings

Blackstone-backed Nexus Select likely to launch retail REIT IPO in May

Global investment firm Blackstone-sponsored Nexus Select Trust is likely to launch India's first retail REIT public offer in early May to raise up to Rs 4,000 crore. In November last year, Nexus Select Trust filed the draft red herring prospectus (DRHP) with market regulator Sebi to launch its retail REIT (Real Estate Investment Trust). Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering a 9.8 million square feet area valued at around Rs 23,000 crore. According to sources, the Nexus Select Trust is likely to hit the capital market in early May with its REIT IPO. It is expecting to get the Sebi nod soon. The size of the IPO of Nexus Select Trust REIT will be around Rs 4,000 crore, of which Rs 1,600 crore would be a primary offering of shares. This will be the third REIT sponsored by Blackstone. It launched India's first REIT Embassy Office Parks and then Mindspace Business Parks REIT. REIT, a popular instrument globally, was introd

Fintech firm BankBazaar.com plans to go public in next 12-18 months

Fintech firm BankBazaar.com on Tuesday said it plans to go public in the next 12-18 months. The company had a net revenue of Rs 160 crore in FY23. The Initial Public Offering (IPO) plans are in progress with an aim to list in 12-18 months, co-branded credit card issuer BankBazaar.com said in a statement. Prior to the IPO, BankBazaar is planning to raise a round of capital and has appointed ICICI Securities to advice it on the same. The company grew its net revenue for FY23 by 60 per cent over FY22 on the back of a 60 per cent growth in its credit card issuances. The growth was driven by its completely paperless and contactless offering of digital-first, co-brand credit cards in partnership with leading banks that enable consumers to track and improve their credit score, earn rich digital rewards, and access hundreds of no-cost EMIs every month, BankBazaar.com said. Adhil Shetty, Co-Founder and CEO of BankBazaar.com, said riding on a 60 per cent growth momentum in FY23 while narro

We will continue to hold 30% in Manipal Health: Manipal group chairman

In a Q&A, Dr Ranjan Pai also confirms that Manipal Health will look for a listing going forward

Go Digit General Insurance re-files preliminary IPO papers with Sebi

Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, has refiled preliminary IPO papers with Sebi after making certain changes to its employee stock appreciation rights scheme, an update with the markets regulator showed on Thursday. This came after Sebi returned Go Digit's draft IPO (Initial Public Offering) papers on January 30 and asked the company to refile the documents with certain updates. The size of the company's IPO remain unchanged in the revised documents. Go Digit's proposed IPO comprises fresh issuance of equity shares worth Rs 1,250 crore and an Offer For Sale (OFS) of 10.94 crore equity shares by a promoter Go Digit Infoworks Services and existing shareholders. Proceeds from the fresh issuance have been proposed to be utilised for the augmentation of the company's capital base and maintenance of solvency levels and general corporate purposes. The company had first filed the draft red herring prospectus (DRHP) with the Securities and Exchange

ESAF SFB to refile IPO prospectus with Sebi; eyes listing in H2 of FY24

Pegs capital need at Rs 1,000 cr for three years

Avalon Tech, largest IPO so far this calendar year, subscribed 8% on day-2

Issue closes tomorrow; firm had allotted shares worth Rs 389 cr to anchor investors Nomura Trust, Ashoka India Opportunities Fund, Goldman Sachs and Neuberger Berman

Avalon Technologies' IPO gets subscribed 9% on second day of offer

Avalon Technologies' initial share sale received a lukewarm response from investors, with the offer getting subscribed 9 per cent on the second day of subscription on Wednesday. The Initial Public Offering (IPO) received bids for 10.77 lakh equity shares against 1.14 crore shares on offer, according to the data available with the National Stock Exchange (NSE). The three-day issue, which will close on Thursday, has received 45 per cent subscription from Retail Individual Investors (RIIs). The quota for Non-Institutional Investors (NIIs) was subscribed 5 per cent while Qualified Institutional Buyers (QIBs) quota remained unsubscribed on the second day. On Friday, Avalon Technologies said that it has raised a little over Rs 389 crore from anchor investors. The IPO comprises a fresh issue of aggregating Rs 320 crore and an offer for sale of up to Rs 545 crore by promoters and existing shareholders. The company has fixed a price band of Rs 415-436 per share. Proceeds from the fresh i

Cyient rejigs top leadership, appoints Karthik Natarajan as CEO

IPO-bound IT company Cyient has rejigged top management roles with the elevation of its managing director and CEO Krishna Bodanapu to the position of executive vice-chairman and MD. The company has elevated executive director (ED) and Chief Operating Officer Karthik Natarajan as ED and CEO. "With immediate effect, Cyient's board of directors has appointed Krishna Bodanapu as Executive Vice Chairman and Managing Director of Cyient Limited. Karthikeyan (Karthik) Natarajan has been appointed as CEO and continues to be Executive Director of Cyient Limited," the company said in a statement. The board of directors of Cyient Limited had approved the reorganization of the company into two separate operating entities to foster their individual growth momentum. Subsequently, a Draft Red Herring Prospectus (DRHP) was filed to take the Design Led Manufacturing (Cyient DLM) business through an Initial Public Offer (IPO) with the Indian market regulator. Cyient has appointed President and Globa

IPO only after achieving overall profitability: PhonePe CEO Sameer Nigam

We have raised $650 million as part of PhonePe's ongoing fundraise of up to $1 billion, said Sameer Nigam, CEO and founder of PhonePe

Aeroflex Industries files draft papers to raise Rs 350 crore through IPO

Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has filed draft papers with capital markets regulator Sebi to mobilise Rs 350 crore 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. Proceeds from the fresh issue will be utilised to the extent of Rs 35 crore for the payment of debt, Rs 84 crore for funding its working capital requirements, and a certain amount will be used for general corporate purposes and acquisitions for inorganic growth. According to merchant banking sour

IPO of Avalon Technologies subscribed 3% on first day of issue

The retail investor portion of the issue was subscribed 16 per cent

Street Signs: Covid trot to winning run, Avalon Tech's premium, and more

Banking stocks outperformed in the just-concluded financial year (2022-23), with the sectoral gauge gaining 12 per cent, against a 0.6 per cent decline in the benchmark National Stock Exchange Nifty

Oyo pre-files DRHP with Sebi, cuts issue size to $400-600 million

The DRHP was filed under the confidential pre-filing route with a reduced issue size of $400-600 million, all of which will be raised through a primary issuance, in a bid to repay the firm's debt

Byju's-backed Aakash expecting to cross Rs 3,000 cr in revenues this year

Byju's acquired AESL in 2021 for about $1 billion. Since then, Byju's said AESL's revenue and profits tripled

Equity fundraising in FY23 put through Fed wringer; IPO mop-up down 52%

IPO mop-up down 52%; QIPs plunge 92%