Page 58 - Ipo

Unicorn startup Darwinbox may go for IPO in next 3 years: Co-founder

HR tech company Darwinbox, which is valued at over USD 1 billion, may go for an Initial Public Offering (IPO) in the next three years, its co-founder Rohit Chennamaneni said on Monday here. Speaking to media persons in a press conference, he said the city-based firm is expected to achieve profitability by 2025 with Indian operations becoming profitable by next fiscal. The promoters of Darwinbox currently hold more than 30 per cent stake in the company while the rest is held by investors, including TCV, Salesforce Ventures, Sequoia, Lightspeed and Endiya Partners. "At this point of time the plan is to get to an IPO in the next three years. That's how we are planning our expansion at this point of time. And when you look at the IPO as well, I think broadly as a business, we want to be a global business serving enterprise across the world and competing with the likes of SAP Oracle and Workday," he said. This is the positioning in which we want to get an IPO, Chennamaneni pointed ...

A day before IPO, Inox Green mobilises Rs 333 crore from anchor investors

Inox Green Energy Services, a subsidiary of Inox Wind, has collected Rs 333 crore from anchor investors. The funds were raised a day before its initial share-sale that opened for public subscription on Friday. The issue will conclude on November 15. The company has decided to allocate 5.12 crore shares to anchor investors at Rs 65 apiece aggregating the transaction size to Rs 333 crore, according to a circular uploaded on the BSE website late night on Thursday. Morgan Stanley Asia (Singapore) Pte, Nomura Singapore Ltd, Citigroup Global Markets Mauritius Private Limited, HDFC Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF are among the anchor investors. The Rs 740-crore initial public offering (IPO) of Inox Green comprises a fresh issue and an offer for sale of Rs 370 crore each. The company has fixed a price band of Rs 61-65 per share for its IPO. Proceeds from the fresh issue will be used for payment of debt and general corporate purposes. Inox Green is engaged

Thumbs up for govt's Axis Bank share sale; OFS gets fully subscribed

Suuti's exit removes overhang on stock, say experts

Keystone Realtors fixes share price band at Rs 514-541 for Rs 635 cr IPO

Keystone Realtors, which sells properties under the brand 'Rustomjee', on Wednesday said it has fixed a price band of Rs 514-541 a share for its Rs 635-crore initial public offering (IPO). The initial share-sale will open for public subscription on November 14 and conclude on November 16. The bidding for anchor investors will open on November 11, the company said. According to the Red Herring Prospectus (RHP), the Mumbai-based company now plans to raise Rs 635 crore. The size of the IPO has been reduced from Rs 850 crore earlier. The IPO consists of a fresh issue of equity shares aggregating up to Rs 560 crore and an Offer-For-Sale (OFS) worth Rs 75 crore by promoters. As a part of the OFS, promoter Boman Rustom Irani will now sell shares worth up to Rs 37.5 crore and stocks to the tune of Rs 18.75 crore each will be offloaded by Percy Sorabji Chowdhry and Chandresh Dinesh Mehta. The company intends to utilise the net proceeds towards funding the repayment/prepayment of borrowings

Muthoot Pappachan Group plans Rs 1,800-cr IPO for its microfinance arm

Muthoot Microfin, the microfinance arm of the Muthoot Pappachan Group, is planning to tap the capital markets with an initial share sale offer of Rs 1,500-1,800 crore by the last quarter of 2023. Delhi-based Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan Group. This is the third largest MFI with a client base of 2.2 million across 18 states and served by its 1,008 branches. As of September 2022, the company had an active loan book of Rs 7,500 crore. We are planning a Rs 1,500-1,800-crore IPO by the fourth quarter of 2023 and expected to file the IPO papers with the Sebi by May 2023, Thomas Muthoot, managing director of Muthoot Microfin, told PTI on Wednesday from Kochi. At Rs 1,500-1,800 crore, our IPO will be the largest from the MFI segment, Muthoot said, adding that Muthoot Microfin will also be the first MFI to cross the Rs 10,000-crore AUM mark by the time of listing. Muthoot Fincorp and

White-knuckle volatility forces companies to let IPO approvals lapse

Some firms may blue-pencil valuations because of capital requirement compulsions or for providing exits to their investors. Still others can afford to wait

Inox Green IPO to open on Nov 11, sets price band at Rs 61-65 per share

Inox Green Energy Services, a subsidiary of Inox Wind, has fixed a price band of Rs 61-65 per share for its Rs 740-crore initial public offering (IPO). The initial share-sale will open for public subscription on November 11 and conclude on November 15, and the bidding for anchor investors will open on November 10, the company said in a BSE filing. As per the draft papers, the IPO comprises fresh issuance of equity shares worth Rs 370 crore and an offer-for-sale of shares aggregating to Rs 370 crore by promoter Inox Wind. Besides, the company may consider a pre-IPO placement. If such a placement is completed, the fresh issue size will be reduced. Inox Green Energy Services, which had filed draft IPO papers with Sebi on June 20, obtained the observation letter from the regulator on September 13. The issuance of an observation letter by Sebi implies its go-ahead to float an IPO. Going by the draft papers, proceeds from the fresh issue will be used for payment of debt and general ...

Freshworks faces class action lawsuit in US for false statements during IPO

One of the two law firms suing Freshworks is urging investors who have incurred losses of $100,000 to join the litigation, asserting that the company has violated federal security laws

Global Health IPO subscribed 26%; Five Star IPO to open on Nov 7

The IPO of Bikaji Foods subscribed 67 per cent on Thursday, the first day of the issue

SBI Mutual Fund's IPO plan shelved for now, says chairman Dinesh Khara

Khara said the planned share sale of the bank's mutual fund subsidiary has been shelved for the time being

Amid heavy sell-off, FPIs dump 30 mn Paytm shares in less than a year

The retail shareholding has increased to 6.37% at the end of September, as compared to 2.79% at the time of listing

TMS Ep293: OTT apps, Collegium system, IPOs this week, Crypto mining

Do we have a way to regulate OTT apps now? Is it time to rethink the collegium system of judicial appointments? Are the IPOs opening this week worth your money? What is crypto mining? Answers here

4 IPOs likely to open this week. Which one's worth your money?

Four companies are looking to raise over Rs 4,000 cr this week via IPO. DCX Systems and Bikaji Foods are already seeing investors' interest in the grey market. Do these IPOs deserve your money?

Strong retail interest sees DCX Systems IPO subscribed 2.19 times on day-1

Price band set at Rs 197-207 a share; retail portion sold 8.7x

Four cos set to go public next week; seek to raise over Rs 4,500 cr via IPO

The primary market is heading for a busy time, with four firms, including Global Health Ltd, which operates hospitals under the Medanta brand, and micro finance lender Fusion Micro Finance Ltd, lining up their IPOs next week. The other two companies whose IPOs are ready to open are DCX Systems, a manufacturer of cables and wire harness assemblies, and Bikaji Foods International. Together, these four companies are expected to fetch over Rs 4,500 crore through the IPOs, according to merchant banking sources. Apart from these, Uniparts India and Five Star Business Finance are expected to come out with their respective IPO in November, they added. The initial share sale of DCX Systems will open for public subscription on October 31 and conclude on November 2, while that of Fusion Micro Finance will be open during November 2-4. The IPOs of Global Health and Bikaji Foods will open for subscription on November 3 and close on November 7. In 2022 so far, as many as 22 companies have float

Fusion Ltd plans to raise about Rs 600 crore by issuing fresh equity shares

Microfinance company Fusion Limited is planning to raise around Rs 600 crore through fresh issuance of equity shares in its initial public offering (IPO), a top official said on Saturday. The initial share sale will open for public subscription on November 2 and conclude on November 4. The company has fixed a price band of Rs 350-368 a share, its MD and CEO Devesh Sachdev said at a press conference. The IPO comprises fresh issuance of equity shares worth Rs 600 crore and an offer of sale of 1,36,95,466 equity shares by promoters and existing shareholders. The company is expected to raise Rs 1,104 crore at the upper end of the price band. The company has around 1,000 branches in 377 districts in 19 states in the country with a 29 lakh customer base, Sachdev said. The company presently manages a Rs 7,400 crore portfolio, out of which Rs 500 crore portfolio is from Rajasthan, he added. The company offers loans in the rural sector, especially women with an average loan size of Rs 25,

Medanta brand-owner Global Health sets IPO price band at Rs 319-336/share

The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale (OFS) of up to 5.08 crore equity shares

Audio gear, wearable tech firm boAt raises $60 mn, defers IPO plan

Funding will be used for the company's plans to the lead smartwatch category, strengthen role in audio

Udaan raises $120 mn amid funding winter; plans IPO in 12-18 months

Business-to-business e-commerce firm raises capital from existing investor, was valued at $280 million in January 2021

Will the primary market revival suck out secondary market liquidity?

As market sentiment turns positive for India, 10 firms are looking to raise Rs 9,000 cr via IPO over the next 45 days. Will the primary market activity suck out liquidity from the secondary markets?