Page 124 - Ipos

Street signs: Nifty's potential soars, a mixed bag in IPO GMPs, and more

While it is almost certain that UPL will be dislodged by Shriram Finance in the National Stock Exchange Nifty50 Index, the position of Bharat Petroleum Corporation (BPCL) could also be at risk

Northern Arc Capital files IPO papers with Sebi; to raise Rs 500 crore

Non-banking financial institution Northern Arc Capital Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale. The Initial Public Offering (IPO) is a combination of fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of up to 2.1 crore equity shares by investor shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday. Those offering shares through the OFS include Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Augusta Investments II Pte Ltd, Eight Roads Investments Mauritius II Ltd, Dvara Trust, and IIFL Special Opportunities Fund. Northern Arc Capital may consider mobilising up to Rs 100 crore in a pre-IPO round. Proceeds from the fresh issue will be used to meet future capital requirements of the company towards onward lending. Registered with the RBI, the company is a non-deposit taking non-banking financial company and has

Jana Small Finance Bank, Capital SFB IPOs to open on February 7

Bangalore-based Jana SFB is looking to raise Rs 570 crore with Rs 462 crore worth of shares through fresh issuance

Nova Agritech shares jump nearly 43.39% to Rs 58.79 in debut trade

The stock listed at Rs 56, up 36.58 per cent from the issue price on the BSE. It later jumped 43.39 per cent to Rs 58.79

IT products distributor Rashi Peripherals to open Rs 600 cr-IPO on Feb 7

Rashi Peripherals, an information and communications technology products distributor, is set to float its Rs 600 crore-Initial Public Offering (IPO) on February 7. The issue will conclude on February 9 and the bidding for anchor investors will open for a day on February 6, according to the Red Herring Prospectus (RHP). The public issue is a completely fresh issue of equity shares to the tune of Rs 600 crore with no offer-for-sale component. Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes. Mumbai-based Rashi Peripherals Ltd caters to brands like ASUS Global Pte. Ltd, Dell International Services India, HP India Sales and Lenovo India. The company aims to expand its geographic presence in non-metro cities, which includes tier I and tier II cities and other rural geographies which are becoming centres of consumption for ICT products such as personal computers, ..

BLS E-Services IPO gets subscribed 42.74 times on day two of bidding

The Initial Public Offer (IPO) of BLS E-Services got subscribed 42.74 times on the second day of subscription on Wednesday. The IPO received bids for 58,56,83,352 shares against 1,37,02,904 shares on offer, as per data available with the NSE. The category for Retail Individual Investors (RIIs) attracted 125.26 times subscription, while the non-institutional investors part got subscribed 94.05 times and the portion for Qualified Institutional Buyers (QIBs) fetched 2.68 times subscription. The initial public offering of BLS E-Services Ltd was fully subscribed within minutes of opening for bidding on Tuesday. The company's IPO has a fresh issue of up to 2,30,30,000 equity shares. Its price range is Rs 129-135 a share. BLS E-Services Ltd on Monday mobilised Rs 126 crore from anchor investors. The company is a leading technology-enabled digital service provider, offering business correspondent services to major banks in India, assisted e-services; and e-governance services at grass-r

LIC's $30 billion market rally gives IPO investors chance at redemption

The state-owned life insurer's stock climbed 1.9% Tuesday, to close at its highest level since its IPO in May 2022

Street signs: P-notes surge, grey market frenzy, and Zee exposure trim

Shares of BLS E-Services, an e-governance services enabler, are in high demand in the grey market ahead of its Rs 311 crore initial public offering (IPO)

BLS E-Services IPO opens on Jan 30; price band set at Rs 129-135 per share

Technology-backed service provider BLS E-Services Ltd has set a price band of Rs 129-135 per share for its initial public offering (IPO), that will open for bidding on January 30. The issue will open for public subscription on January 30, and close on February 1, 2024, a company release said. The firm is offering up to 2.3 crore equity shares, excluding pre-IPO placement in the offering. Anchor investor bidding will be on January 29, it added. Investors can bid for a minimum of 108 equity shares and in multiples of 108 thereafter, the company said. "The company proposes to utilise net proceeds from fresh issue of equity shares to strengthen its technology infrastructure to develop new capabilities and consolidate its existing platforms; funding initiatives for organic growth by setting up of BLS Stores; achieving inorganic growth through acquisitions; and general corporate purposes," it said.

Food-delivery platform Swiggy to cut 350-400 jobs across verticals

On-demand convenience platform Swiggy is understood to be preparing to cut around 400 jobs across various verticals as part of preparations for its initial public offering. As the company works to simplify structure and bring operational efficiencies, around 350 to 400 jobs are expected to be pruned, sources said. These will be across teams spanning technology, call centre and corporate roles, and the job cuts are expected to initiate gradually in the coming weeks. When contacted Swiggy declined to comment. The development comes at a time when Swiggy is preparing for its IPO. "Swiggy has been working on simplifying work processes and building operational efficiencies," a person aware of the development said. Swiggy's headcount is estimated to be around 6,000 at present.

Four companies get Sebi's approval to raise funds by launching IPOs

Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator Sebi's approval to raise funds through initial public offerings. However, the Securities and Exchange Board of India has returned the IPO papers of Stallion India Fluorochemicals. As per the processing status of draft offer documents till January 19, the watchdog has approved the initial public offering (IPO) of the four companies. These four firms, which had filed their preliminary papers with the markets watchdog between June and October, obtained observation letters on January 16-19, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday. In Sebi's parlance, obtaining observation letters means its go-ahead to launch an IPO. Going by the draft papers of Entero Healthcare Solutions, the IPO comprises a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) component of up to 85.57 lakh equity shares. Those

Nova Agritech IPO subscribed 33.82x on Day 2; NII category booked 71.19x

The Initial Public Offering (IPO) of Nova Agritech Ltd, a manufacturer of agricultural inputs, got subscribed 33.82 times on the second day of subscription on Wednesday. The IPO received bids for 85,96,22,815 shares against 2,54,14,746 shares on offer, as per NSE data. The category for Non-Institutional Investors (NIIs) received 71.19 times subscriptions, while the portion for Retail Individual Investors (RIIs) subscribed 36.19 times. Qualified Institutional Buyers (QIBs) part got subscribed 1.12 times. The IPO comprises a fresh issue of equity shares worth up to Rs 112 crore and an Offer For Sale (OFS) component of 77.58 lakh equity shares by a shareholder Nutalapati Venkatasubbarao, who owns an 11.9 per cent stake in the company. On Friday, Nova Agritech had raised a little over Rs 43 crore from anchor investors. It has set a price band of Rs 39-41 per share for the issue. At the upper end of the price band, the maiden public issue is expected to mobilise Rs 143.81 ...

IPO-bound S K Finance raises Rs 1,328 crore capital from investors

Vehicle finance and business loans-focused non-bank lender S K Finance has raised Rs 1,328 crore from investors. Motilal Oswal Private Equity has pumped in Rs 415 crore for a minority stake in the 1994-incorporated, Jaipur-based company, as per a statement. Existing shareholders Norwest Venture Partners, TPG Growth, Baring Private Equity India, and new investors Duro Capital, Axis Alternatives, Ananta Capital, and Mirae Asset Venture Investments were among the other investors in the round, it said. The company has grown at a rate of 40 per cent annually on a compounded basis over the last six years till FY23, as per the statement. The latest fund infusion includes both fresh issue of shares and also secondary capital, it said.

Indel Money aims IPO in FY27, floats debentures worth Rs 200 crore

Gold loan company Indel Money, which aims at initial public offering (IPO) in 2026-27, on Tuesday announced public issue of debentures worth Rs 200 crore. The fourth public issue of secured, redeemable non-convertible debentures (NCDs) of Rs 1,000 face value would open for subscription on January 30 and offers highest rate option of 12.25 per cent for 72 months. The issue includes a base size for an amount of up to Rs 100 crore with an option to retain over-subscription up to Rs 100 crore aggregating up to Rs 200 crore. Asked as to why public offer of NCDs, Indel Money CEO Umesh Mohanan said, "this is in anticipation for IPO that we are targeting in 2026-27". The funds raised through NCD issue will be used for the purpose of onward lending, financing and for repayment/prepayment of principal and interest on borrowings of the company, he said. "Our business strategy is designed to capitalize on our competitive strengths to enhance our position in the gold loan industry and to expan

Bharti Hexacom files DRHP for IPO, TCIL to sell up to 100 million shares

Bharti Hexacom has filed a draft red herring prospectus (DRHP) for a proposed IPO that entails an offer of sale by Telecommunications Consultants India Ltd, according to a regulatory filing. The IPO will not have any fresh issuance of equity shares and since it is an offer for sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO. "We wish to inform you that Board of Directors of the company at its meeting held on Friday, January 19, 2024, have approved the IPO of equity shares of face value Rs 5 each comprising of an offer for sale of up to 100000000 (10 crore) equity shares by Telecommunications Consultants India Ltd, subject to such variation as permitted under applicable law," the BSE filing said. Accordingly, the company filed a draft red herring prospectus on Friday with SEBI, for a proposed IPO for the offer by Telecommunications Consultants India Ltd. The offer represents 20 per cent of the paid-up equity share capital of Bharti Hexacom. "The IPO shall not

Medi Assist's Rs 1,171 cr IPO subscribed 16.25 times on last day of bidding

The Initial Public Offering (IPO) of Medi Assist Healthcare Services received 16.25 times subscription on the last day of bidding on Wednesday. The Rs 1,171.57 crore-IPO received bids for 31,87,78,530 shares, against 1,96,19,719 shares on offer, as per NSE data. The category for Qualified Institutional Buyers (QIBs) got subscribed 40.14 times, while the portion for non-institutional investors fetched 14.85-times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 3.19 times. The initial public offer was entirely an Offer-for-Sale (OFS) of up to 2,80,28,168 equity shares. It had a price range of Rs 397-418 a share. Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund. Medi Assist

EPACK Durable sets Rs 218-230 price band for IPO worth Rs 640 crore

EAPCK Durable, the second-largest outsourced design manufacturer of room air-conditioners, on Tuesday fixed a price band of Rs 218-230 per share for its Rs 640 crore initial public offering. The share sale, which opens on January 19, comprises Rs 400 crore of fresh issue and a Rs 240-crore offer for sale by promoters, promoter group members, and existing shareholders who collectively be offloading 1.3 crore shares. Pre-issue, promoters own 67 per cent of the company. Two investor shareholders India Advantage Fund S4 I and Dynamic India Fund S4 US1, which are owned by ICICI Ventures, will be offloading a third of their total 20 per cent holding in the company, Bajrang Bothra, the chairman of the company told PTI here. Ajay Singhania, the managing director & chief executive, said ICICI Ventures entered the company in September 2021 with a Rs 160 crore funding for around 20 per cent stake. The company also has another external investor in Affirma Capital, which in September 2022 ...

Asia Pacific home to most 2024 IPO debuts with India taking the lead

Asia equity capital market bankers expect India to remain among the region's most active markets throughout this year

Medi Assist's Rs 1,171 crore IPO subscribed 1.20 times on 2nd day of offer

The Initial Public Offering (IPO) of Medi Assist Healthcare Services got subscribed 1.20 times on the second day of subscription on Tuesday. The Rs 1,171.57 crore-IPO received bids for 2,34,69,985 shares against 1,96,19,719 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 1.70 times subscription while the quota for non-institutional investors got subscribed 1.61 times. The portion for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent. The IPO is entirely an Offer for Sale (OFS) of up to 2,80,28,168 equity shares. It has a price range of Rs 397-418 a share. Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund. Medi Assist covers over 18,000 hospit

Investors subscribe 54% of Medi Assist IPO on 1st day of offering

The Initial Public Offer (IPO) of Medi Assist Healthcare Services received 54 per cent subscription on the first day of bidding on Monday. The Rs 1,171.57 crore IPO received bids for 1,05,68,425 shares against 1,96,19,719 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 89 per cent and the quota for non-institutional investors received 45 per cent subscription. The IPO is entirely an Offer for Sale (OFS) of up to 2,80,28,168 equity shares. It has a price range of Rs 397-418 a share. Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund. Medi Assist covers over 18,000 hospitals across 1,069 cities and 31 states and has 35 insurers as partners. Nuvama Weal