Page 125 - Ipos

IPO-bound Firstcry to expand operations in Saudi; allocate Rs 155 crore

Already a prominent player in the Saudi market, this investment will further strengthen its position

Investors subscribe Jyoti CNC Automation IPO 3.92 times on 2nd day

The Initial Public Offer (IPO) of Jyoti CNC Automation got subscribed 3.92 times on the second day of bidding on Wednesday. The IPO received bids for 6,87,09,015 shares against 1,75,39,681 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 11.08 times subscription while the portion for non-institutional investors got subscribed 6.49 times. The quota for Qualified Institutional Buyers (QIBs) attracted 22 per cent subscription. Jyoti CNC Automation on Monday raised Rs 448 crore from anchor investors. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The public issue, with a price band of Rs 315-331 per share, will conclude on Thursday. Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti CNC Automation is a manufacturer of Computer Numerical Control (CNC) machines. Its customers include ISRO, BrahMos ..

2024 expected to be year of IPO boom led by new-age firms, say experts

Experts said a combination of various factors including rise of tech firms, investor confidence, a resilient economy and a supportive regulatory environment are propelling growth of India's IPO market

Hero MotoCorp stake in electric scooter firm Ather Energy capped at 40%

Nikhil Kamath, founder of online stock trading platform Zerodha, who has also taken a stake in Ather, is believed to be willing to bet more in the company. But existing investors are not selling right

Jyoti CNC Automation IPO ends 1st day with 2.51 times subscription

The Initial Public Offer (IPO) of Jyoti CNC Automation was fully subscribed within hours of opening for bidding on Tuesday, largely helped by heavy participation from retail investors, and later ended the day with 2.51 times subscription. The IPO received bids for 4,40,01,675 shares against 1,75,39,681 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 8.25 times and that for non-institutional investors received 3.63 times subscription. The portion for Qualified Institutional Buyers (QIBs) got subscribed 2 per cent. Jyoti CNC Automation on Monday raised Rs 448 crore from anchor investors. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The public issue, with a price band of Rs 315-331 per share, will conclude on January 11. Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti CNC Automation is

Unicommerce files draft papers with Sebi to raise capital through IPO

E-commerce-focussed IT firm Unicommerce has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares and B2 Capital Partners will be selling up to 22 lakh shares. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Unicommerce eSolutions is the fifth tech company which has filed IPO papers. Awfis Space Solutions, Ola Electric, Firstcry, and MobiKwik are the other technology companies that have filed draft papers in the past two weeks. Founded in 2012, Unicommerce eSolutions is India's lea

Indian investment bankers earn $1.3 billion in fees, highest since 2000

The equity capital market (ECM) underwriting fees reached $343.5 million, a 68 per cent rise from a year ago. ECM fee includes the fee from IPOs and follow-on offers

New demat additions jump 29% in 2023 amid rally in markets, shows data

Brokers are cautiously optimistic about the outlook. At the same time, some feel the earnings momentum will sustain the gains made in 2023

Gujarat-based Jyoti CNC Automation sets IPO price band at Rs 315-331 apiece

Gujarat-based Jyoti CNC Automation on Thursday said it has fixed a price band of Rs 315-331 per share for its initial public offering (IPO). This will be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The IPO of Jyoti CNC will open for public subscription on January 9 and end on January 11. The anchor book of the offer will be opened for a day on January 8, the company announced. Investors can bid for a minimum of 45 equity shares and in multiples thereof, it said. The company is planning to list its shares for the second time in nearly 10 years. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The company has reserved 75 per cent of the issue size for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail individual investors. Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the compan

Jyoti CNC Automation's IPO worth Rs 1,000 crore to open on January 9

Gujarat-based Jyoti CNC Automation's initial public offering worth up to Rs 1,000 crore will open on January 9. It will also be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The company is planning to list its shares for the second time in nearly 10 years. The three-day Initial Public Offering (IPO) of Jyoti CNC will close on January 11, while the anchor book of the offer will be launched for a day on January 8, as per the Red Herring Prospectus (RHP). The price band for the offer is yet to be announced. Last month, the company got approval from markets regulator Sebi to float the public issue. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti CNC Automation is a leading manufacturer of Computer Numerical Control (CNC) machines. Its customers in

Divine Power Energy to launch IPO by March; eyes Rs 400 cr turnover by 2026

Insulated wires and strips maker Divine Power Energy on Tuesday announced its plan to go public this year and raise funds from capital market to expand capacity as the company aims to increase turnover to Rs 400 crore by 2026. The Ghaziabad-based company intends to expand its production capacity by raising capital through an initial public offering (IPO), which is likely to take place in mid-February or early March of this year, Divine Power Energy Ltd ((DPEL) said in a statement. According to the statement, DPEL aims to achieve Rs 400 crore in revenue by March 2026. The company targets to double the revenue to Rs 300 crore by 2025 from Rs 150 crore in FY23. Rajesh Giri, Managing Director, DPEL, said in the statement, "We aspire to be a market leader in the manufacturing of insulated copper and aluminum wires and strips, setting benchmarks for quality and sustainability." He further stated that raising funds from capital markets will unlock the company's full potential by expanding

Esconet Technologies files draft papers to raise funds through IPO

Integrated IT solutions company Esconet Technologies on Tuesday said it has filed draft papers to mobilise funds through an initial public offering. The initial public offering (IPO) is entirely a fresh issuance of up to 33,60,000 equity shares, with a face value of Rs 10 each, and the shares of the company are proposed to be listed on Emerge platform of the NSE, the company said in a statement. Corporate Capital Ventures is the sole book running lead manager, while Skyline Financial Services is the registrar for the issue. Esconet proposes to utilise the proceeds from the issue towards working capital requirements of the company and invest in its wholly-owned subsidiary ZeaCloud Services to fund its capital expenditure expenses, as per the draft documents. A portion of the proceeds will also be used for the general corporate purposes. Founded in 2012 by second-generation entrepreneurs Santosh Kumar Agrawal and Sunil Kumar Agrawal, Esconet Technologies has been in the business of

Ola Electric consolidates electric two wheeler leadership with market gain

India's overall electric two-wheeler market in 2023 fell short of the one million mark

Diffusion Engineers files IPO papers, will use funding for expansion

Engineering solutions provider Diffusion Engineers has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial share sale. The initial public offering (IPO) is purely a fresh issue of up to 98,47,000 equity shares with a face value of Rs 10 each, according to the draft red herring prospectus (DRHP) filed on Dec 27. Going by the draft papers, proceeds from the issue will be used by the company towards expansion of its existing manufacturing facility and setting up a new manufacturing facility in Maharashtra. Proceeds will also be used towards funding working capital requirements and general corporate purposes. Incorporated in 1982, Diffusion Engineers engaged in the business of providing engineering solutions to customers in domestic and international markets. The Nagpur-based firm provides a wide range of products and services, including the manufacture of special welding consumables, wear plates and heavy engineering equipment, and provi

Delightful year for IPO investors as 54 of 59 issues return 45% on average

In a year when the key equity benchmarks scaled new highs and rallied nearly 20 per cent making investors richer by close to Rs 82 lakh crore, IPO investors laughed all the way to the bank as 55 of the 59 issues gave them handsome returns of 45 per cent on average. In fact, 2023 turned out to be an outlier for primary market investors when 59 companies hit the street, raising Rs 54,000 crore, and returned over 45 per cent more than the issue prices on average, according to exchange data. This means that more than two-thirds of companies outperformed benchmark indices which rallied close to 20 per cent in the year. The average listing gain for all the 59 IPOs is 26.3 per cent and their average gain as of December 29 is 45 per cent and only four of the 59 main-board IPOs are traded below the issue price on the trading session of the year on December 29. As much as 23 of the 59 issues rallied more than 50 per cent since listing and of them, nine gave more than two-fold gains over the

Bonanza for IPOs in 2023, 55 of 59 stocks trading above issue price

Analysts attribute these gains in the newly listed stocks to buoyant secondary markets, the enthusiastic participation of retail investors in IPOs, and strong foreign portfolio investor flows (FPIs)

The SME IPO boom needs to last for the sake of future billionaires

The 161 businesses which are listed in the SME segment of Indian stock exchanges allocated nearly 94 per cent of the money raised to meet company requirements

PNB gets board approval to raise Rs 7,500 crore through QIP or FPO

Punjab National Bank on Thursday said its board has approved a proposal to raise Rs 7,500 crore capital through QIP or FPO. The fundraising exercise will be done in one or more tranches during the next financial year, the state-owned bank said in a late-evening regulatory filing. The board of directors, during a meeting on Thursday, approved the proposal for raising equity capital for an amount aggregating up to Rs 7,500 crore in one or more tranches during 2024-25 through Qualified Institutional Placement (QIP) or Follow-on Public Offering (FPO) or any other permitted mode or a combination, it said.

Azad Engineering shares settle with over 29% premium in debut trade

Shares of Azad Engineering Ltd ended with a premium of over 29 per cent against the issue price of Rs 524 on the first day of trade on Thursday. The stock made its debut at Rs 710, reflecting a jump of 35.49 per cent from the issue price on the BSE. During the day, it zoomed 38.83 per cent to Rs 727.50. Shares of the company ended at Rs 677.10 apiece, rallying 29.21 per cent. On the NSE, the stock listed at Rs 720, up 37.40 per cent. Shares of the company ended at Rs 673.25 per piece, a jump of 28.48 per cent. The company's market valuation stood at Rs 4,002.54 crore. In volume terms, 7.80 lakh shares of the company were traded on the BSE and over 1.51 crore shares on the NSE during the day. In the equity market, the 30-share BSE Sensex jumped 371.95 points or 0.52 per cent to settle at an all-time closing high of 72,410.38. The Nifty climbed 123.95 points or 0.57 per cent to settle at a fresh record of 21,778.70. The initial share sale of Azad Engineering received 80.60 times ..

12 companies raise nearly Rs 9,000 crore in December through IPOs

As many as 12 companies raised Rs 8,931.69 crore through initial share sales this month, making it the best IPO month in two years. The previous best was December 2021, when 11 companies mopped up Rs 9,534 crore through Initial Public Offerings (IPOs). As per an analysis, 12 companies hit the market with their IPOs in December 2023. This week, six companies got listed after their IPOs and one company will start trading on Thursday. Reflecting the bullishness in the primary market, three firms each made their stock market debut on Tuesday and Wednesday. While Muthoot Microfin, Motisons Jewellers and Suraj Estate Developers got listed on Tuesday, Credo Brands, Happy Forgings and RBZ Jewellers made their debuts on Wednesday. Earlier this month, Doms Industries, Flair, India Shelter Finance and Inox CVA listed on the bourses, while Azad Engineering is set to start trading on Thursday. The listing date of Innova Captab, which has raised Rs 570 crore through an IPO, is yet to be ...