Page 56 - Ipo

IPO of Delhi-based Elin Electronics subscribed 37% on first day of offer

The initial share-sale of electronics manufacturing services company Elin Electronics received 37 per cent subscription on the first day of offer on Tuesday. The Initial Public Offer (IPO) got bids for 52,35,360 shares against 1,42,09,386 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) was subscribed 55 per cent, non-institutional investors portion received 43 per cent subscription and Qualified Institutional Buyers (QIBs) 1 per cent. The IPO has a fresh issue of up to Rs 175 crore and an offer for sale of up to Rs 300 crore aggregating up to Rs 475 crore. Price range for the IPO is at Rs 234-247 a share. Delhi-based Elin is a manufacturer of end-to-end product solutions for major brands of lighting, fans, and small kitchen appliances, and a leading fractional horsepower motors manufacturer in the country. Axis Capital and JM Financial are the managers to the offer.

KFin Technologies IPO subscribed 0.5 times on first day of the issue

KFin Technologies was initially looking to launch a Rs 2,400-crore IPO but now, it has reduced the issue size to Rs 1,500 crore to align with market conditions

Stocks to Watch: Tata Power, M&M, Tata Motors, Ashoka Buildcon, Spandana

Stocks to Watch Today: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and PNB are the seven stocks in F&O ban period on Monday.

Mutual funds pivot to IPOs in November amid record number of deals

Invest Rs 3,300 crore in maiden offerings, pull out from secondary market

Surprise corporate actions by Indian tech darlings spur scrutiny

While within the rules, experts not convinced by buyback move of fintech firms

IRM Energy files draft papers with Sebi, eyes up to Rs 700-crore via IPO

City gas distribution company IRM Energy Ltd has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 700 crore through an initial public offering (IPO). The IPO is a fresh issue of up to 1.01 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). The Ahmedabad-based company may consider a pre-IPO placement for up to 20 lakh equity shares. If such placement is completed, the issue size will be reduced. At present, the promoters own 67.94 per cent stake in the company, with the majority being held by Cadila Pharmaceuticals (49.50 per cent), and the remaining shares being held by IRM Trust Ltd through its managing trustee Rajiv Indravadan Modi. Proceeds from the issue will be used to fund capital expenditure requirements for development of the city gas distribution network at Namakkal and Tiruchirapalli in Tamil Nadu, for payment of debt and other general corporate purposes. According to merchant banking sources,

Disney set to offload entire stake in Tata Play during IPO: Report

Disney's move comes at a time when it is focusing on its broadcast and streaming service businesses in India

Indegene files draft papers with Sebi; eyes Rs 3,200 crore via IPO

The IPO comprises a fresh issue of equity shares worth up to Rs 950 crore and an Offer For Sale (OFS) of up to 3.63 crore equity shares by existing investors, according to the DRHP

Landmark Cars IPO subscribed by 3 times on last day of subscription

The Initial Public Offer (IPO) of automobile dealership chain Landmark Cars got subscribed 3.06 times on the last day of subscription on Thursday, helped by huge interest from institutional buyers. The IPO received bids for 2,46,45,186 shares against 80,41,805 shares on offer, according to NSE data. The category meant for Qualified Institutional Buyers (QIBs) was subscribed 8.71 times, non-institutional investors received 1.32 times subscription and Retail Individual Investors (RIIs) 59 per cent. The IPO of Landmark Cars got subscribed 39 per cent on the second day of offer on Wednesday. It had a fresh issue of up to Rs 150 crore and an offer for sale of up to Rs 402 crore, aggregating up to Rs 552 crore. The company's public offer had a price range of Rs 481-506 a share. Proceeds from fresh issuance will be utilised for payment of debt and general corporate purposes. TPG-backed Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-

Abans Holdings IPO receives 46% subscription on third day of offer

The initial public offering of Abans Holdings, financial services arm of the Abans Group, got subscribed 46 per cent on the third day of offer on Wednesday. Abans Holdings' Initial Public Offer (IPO) received bids for 58,75,155 shares against 1,28,00,000 shares on offer, as per NSE data. Qualified Institutional Buyers (QIBs) category received 2.19 times subscription, while Retail Individual Investors (RIIs) portion got subscribed 32 per cent and non-institutional investors 17 per cent. The IPO of up to 1.28 crore equity shares has a fresh issue of up to 38 lakh equity shares and an offer for sale of up to 90 lakh equity shares. Price range for the offer is at Rs 256-270 a share. Proceeds from the fresh issue will be utilised towards investment in its NBFC subsidiary, Abans Finance, for financing the augmentation of its capital base to meet future capital requirements and for general corporate purposes. The company operates a diversified global financial services business, providi

Indian winemaker Sula's IPO oversubscribed with bids worth $190 million

Investors had bid for 43.8 million shares by the final day of bidding, 2.33 times the 18.8 million shares on offer, with institutional investors showing the most interest, exchange data showed

Beware of information paucity and liquidity risk in unlisted shares

Even seasoned investors should bet only 5-10% on such securities

Brokers fret as secondary market ASBA gains motion with new UPI feature

They are staring at a 15-20% drop in the revenues they make from interest on the surplus funds clients park with them. Something similar had played out when ASBA was launched for IPOs

KFin IPO to hit market on Dec 19, issue sized reduced to Rs 1,500 cr

Financial services platform provides solutions to asset managers and corporate issuers

Sula Vineyards IPO subscribed 59%, Landmark Cars bought 17%, and more

Shares of automobile dealership chain Landmark Cars received 17 per cent subscription on the first day of offer on Tuesday

Paytm board okays share buyback worth Rs 850 crore at Rs 810 per share

Assuming a full buyback of Rs 850 crore and applicable buyback taxes, the total outlay would be in excess of approximately Rs 1,048 crore

Abans Holdings IPO registers 28% subscription on second day of offer

The Initial Public Offer (IPO) of Abans Holdings, financial services arm of the Abans Group, was subscribed 28 per cent on the day two of offer on Tuesday. The IPO received bids for 35,27,260 shares against 1,28,00,000 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) was fully subscribed, while the category for Retail Individual Investors (RIIs) received 23 per cent subscription and non-institutional investors 13 per cent. The IPO of up to 1.28 crore equity shares has a fresh issue of up to 38 lakh equity shares and an offer for sale of up to 90 lakh equity shares. The offer has a price range of Rs 256-270 a share. Proceeds from the fresh issue will be utilised towards investment in its NBFC subsidiary, Abans Finance, for financing the augmentation of its capital base to meet future capital requirements and for general corporate purposes. The company operates a diversified global financial services business, providing Non-Banking Financial .

Landmark Cars IPO receives 17% subscription on first day of offer

The initial public offer of automobile dealership chain Landmark Cars received 17 per cent subscription on the first day of offer on Tuesday. The IPO received bids for 14,04,383 shares against 80,41,805 shares on offer, as per data available with the NSE. The category meant for non-institutional investors received 39 per cent subscription, while Retail Individual Investors (RIIs) got subscribed 17 per cent. The Initial Public Offer (IPO) has a fresh issue of up to Rs 150 crore and an offer for sale of up to Rs 402 crore aggregating up to Rs 552 crore. The IPO has a price range of Rs 481-506 a share. Proceeds from fresh issuance will be utilised for payment of debt and general corporate purposes. TPG-backed Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. Shares of the firm will be listed on the BSE and NSE. Axis Capital and ICICI Securities are the managers to the offer.

Abans Holdings offer subscribed 11% the first day of subscription

The category for non-institutional investors received 12 per cent subscription and retail individual investors (RIIs) part was subscribed 13 per cent

Sula Vineyards: Should you subscribe to India's largest wine seller's IPO?

Sula Vineyards' revenue contribution from its own brands in the wine business rose from 63.6% in FY20 to 84% in FY22 as imports sharply came down from 31% to 7.9% during this period