Page 130 - Ipos

Stationery maker Cello World's Rs 1,900 crore IPO to open on Oct 30

The maiden public issue will conclude on November 1 and the anchor book of the offer will be opened for a day on October 27, according to the red herring prospectus

Favourable mkt conditions push 139 SMEs to mobilise Rs 3,540-cr via IPO

Strong participation of family offices as well as high-net-worth individuals (HNIs), adequate market liquidity, and optimistic investor sentiment have amplified interest in small and medium enterprise (SME) IPOs, with 139 such firms garnering Rs 3,540 crore through initial share sales in 2023 so far. This was higher than 109 companies that raised Rs 1,875 crore through initial public offerings (IPOs) in the entire 2022, according to data provided by primedatabase.com. Looking ahead, the fundraising environment for SME IPOs is anticipated to remain favourable, experts said. "The primary determinants include the growth potential of specific sectors, market liquidity levels, investor sentiment, and potential regulatory changes. The robust fundraising momentum is expected to persist, buoyed by the convergence of these influential factors," Abhishek Jain, Head of Research at Arihant Capital Markets Ltd, told PTI. Going by the industry data, a total of 139 IPOs have debuted on the SME ..

IRM Energy's Rs 545 crore IPO subscribed 27 times on last day of offer

The Initial Public Offering (IPO) of city gas distribution company IRM Energy was subscribed 27.05 times on the last day of subscription on Friday. The Rs 545.40 crore-initial share sale received bids for 20,62,70,910 shares against 76,24,800 shares on offer, as per NSE data. The category for non-institutional investors was subscribed 48.34 times while the portion for Qualified Institutional Buyers (QIBs) received 44.73 times subscription and Retail Individual Investors (RIIs) quota got subscribed 9.29 times. The IPO was a fresh issue of up to 1.08 crore equity shares. The price range for the offer was Rs 480-505 a share. IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors. Proceeds from the issue to the tune of Rs 307.26 crore will be used to fund capital expenditure requirements for the development of the city gas distribution network at Namakkal and Tiruchirappalli in Tamil Nadu and Rs 135 crore for payment of debt. Besides, a portion will be

Bidding for Blue Jet Healthcare IPO sale set to open on October 25

Bidding for the Initial Public Offering (IPO), which is entirely an offer for sale (OFS) of 2.42 crore shares by promoters -- Akshay Bansarilal Arora and Shiven Akshay Arora -- will conclude on Oct 27

IRM Energy IPO subscribed 1.71 times on first day of subscription

The initial public offering (IPO) of city gas distribution company IRM Energy was subscribed 1.71 times on the first day of subscription on Wednesday. The Rs 545.40 crore initial share sale received bids for 1,30,38,661 shares against 76,24,800 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 2.60 times while the quota for retail individual investors (RIIs) received 1.77 times subscription and the portion for qualified institutional buyers (QIBs) got subscribed 1.07 times. The IPO is a fresh issue of up to 1.08 crore equity shares. The price range for the offer is Rs 480-505 a share. IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors. Proceeds from the issue to the tune of Rs 307.26 crore will be used to fund capital expenditure requirements for the development of the city gas distribution network at Namakkal and Tiruchirappalli in Tamil Nadu and Rs 135 crore for payment of debt. Besides, a porti

IRM Energy collects Rs 160 crore from anchor investors ahead of IPO

City gas distribution company IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors ahead of its initial share sale that opens for subscription on Wednesday. The company has decided to allot 31.75 lakh equity shares to 12 funds at Rs 505 apiece, which is also the upper end of the price band, aggregating the transaction size to Rs 160.35 crore, according to a circular uploaded on the BSE website. Foreign investors and domestic institutions -- Quant Mutual Fund, SBI General Insurance Company HDFC Life Insurance Company, DSP MF, ITI MF, BOI MF, Nippon AIF, and PNB Metlife -- were the anchor investors. The IPO is a fresh issue of up to 1.08 crore equity shares. The offer also includes reservation for subscription by eligible employees, and a discount of Rs 48 per equity share is being offered to such employees. 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 th

TMS Ep540: Polls strategies, Asian Games achievers, neutral athletes & more

Will state polls find the winning formula for General elections? What next for India's Asian Games achievers? How long will retail investors' love for IPOs last? Who are neutral athletes? Answers here

Mufti brand owner Credo and RBZ Jewellers get Sebi's approval for IPOs

Credo Brands Marketing Ltd, which owns denim brand Mufti, and B2B and retail jewellery firm RBZ Jewellers Ltd have received approval from capital markets regulator Sebi to mobilise funds through initial public offerings (IPOs). RBZ Jewellers and Credo Brands, which filed draft papers with Sebi during June and July, obtained observations on September 28 and October 6, respectively, data with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, its observation means its go-ahead to float the public issue. Going by the draft papers, Credo Brands' maiden public issue is entirely an offer for sale (OFS) of up to 1.96 crore shares by promoters and other existing shareholders. At present, promoters and promoter group members together hold over 67 per cent stake in Credo Brands Marketing. Bennett Coleman & Co, which made an investment of over Rs 9 crore for 9.72 per cent ownership, holds a 12.36 per cent stake in the company. Credo Brands Marketing is .

HR firm CIEL group to hit capital market with IPO by first half of 2024

The Initial Public Offering of human resources solutions provider CIEL Group is expected in the first half of 2024. The city-based company has 'rigorously' invested in optimizing the HR processes with digital intervention, said CIEL Group Executive Chairperson and Director K Pandiarajan on Tuesday. "CIEL's digital forays in the past year have majorly contributed to the growth of CIEL Group in the H1. I am confident that we are not far from our IPO plans, being the only player to provide a full spectrum of HR services and having a strong geographic presence with 77 offices in 47 locations in India," he said. "I take pride in announcing that CIEL has rigorously invested in optimizing HR processes with digital intervention," he told reporters. The IPO would help in strengthening these plans, positioning CIEL as the leading HR services provider, offering seamless end-to-end HR solutions, he added. The upcoming IPO is expected to enable CIEL to support its technology investments for ..

SRM Contractors files draft papers with Sebi to mop-up funds via IPO

SRM Contractors Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO). The maiden public issue is entirely a fresh issue of 62 lakh equity shares, according to the Draft Red Herring Prospectus (DRHP). Proceeds of the issue will be used to purchase machinery, support working capital requirements, invest in joint venture projects, pay debt and for general corporate purposes. SRM Contractors is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation works and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh. Interactive Financial Services Ltd is the sole book running lead manager to the issue.

IPO fund mop-up declines 26% to Rs 26,300 crore during April-Sept

Fundraising through mainboard IPOs declined 26 per cent to Rs 26,300 crore in the first half of the fiscal, even as the number of issues more than doubled to 31. In the first half of FY23, the amount raised via Initial Public Offerings (IPOs) stood at Rs 35,456 crore through 14 issues, according to data collected by Prime Database. However, excluding the mega LIC issue in May 2022, fund mobilisation this year jumped 76 per cent year-on-year. According to Pranav Haldea, Managing Director of the portal, fundraise via equities rose 69 per cent to Rs 73,747 crore in the April to September period, from Rs 43,694 crore in the first half of FY23. This includes the money raised through the SME issue platforms, InvITs, REITs, OFS, QIP and public debt issues, he said. Including SME issues, the money raised stood at Rs 29,032 crore in the reporting year, down from Rs 36,594 crore in H1, FY23. Offer for Sale (OFS) amounts, including InVITs and REITs, plunged to Rs 1,446 crore in the period u

Three companies file draft papers with Sebi to raise funds via IPOs

Three companies -- Indo Farm Equipment Ltd, Vibhor Steel Tubes Ltd, and Saraswati Saree Depot Ltd -- have filed preliminary papers with capital markets regulator Sebi to raise funds through Initial Public Offerings (IPOs). Shares of these companies will be listed on the BSE and the NSE, as per draft papers filed with the Securities and Exchange Board of India (Sebi) on September 28 and 29. The proposed IPO of Indo Farm Equipment comprises fresh issue of 1.05 crore equity shares and an Offer For Sale (OFS) of 35 lakh equity shares by promoter Ranbir Singh Khadwalia. Proceeds from the fresh issue will be used to set up new dedicated unit for expansion of the company's pick and carry cranes manufacturing capacity, payment of debt, investment in the company's NBFC subsidiary Barota Finance. Indo Farm Equipment manufactures tractors, pick and carry cranes, and other farm equipment. Vibhor Steel Tubes' maiden public issue is entirely a fresh issue of equity shares worth Rs 66.47 crore.

JSW Infrastructure shares jump over 32% to settle at Rs 157 in debut trade

Shares of JSW Infrastructure, a part of JSW Group, on Tuesday made a remarkable market debut and ended with a premium of over 32 per cent against the issue price of Rs 119. The stock made its debut at Rs 143, registering a jump of 20.16 per cent from the issue price on the BSE. It rallied 32.18 per cent to settle at Rs 157.30. At the NSE, it listed at Rs 143. Shares of the company ended at Rs 157.30 apiece, climbing 32.18 per cent. The company commanded a market valuation of Rs 33,033.02 crore. In traded volume terms, 57.99 lakh shares of the company were traded at the BSE and over 12.21 crore shares at the NSE during the day. In the equity market, the 30-share BSE Sensex declined 316.31 points or 0.48 per cent to settle at 65,512.10. The Nifty fell 109.55 points or 0.56 per cent to end at 19,528.75. The Initial Public Offering (IPO) of JSW Infrastructure was subscribed 37.37 times on the last day of bidding on Wednesday. The Rs 2,800-crore IPO had a price range of Rs 113-119 pe

JSW Infra gains 32% on market debut; Finolex Cables withholds results

Through the IPO, JSW Infrastructure raised Rs 2,800 crore in fresh capital, which it plans to use for paring its debt

Agilus Diagnostics files for IPO to raise funds via 142.3 mn shares

The diagnostics giant partners with ICICI Securities, Axis Capital, and Citigroup for public offering, aiming to sell equity shares held by key investors

TVS Logistics Parks sells 4.5% stake to Dutch firm for Rs 51 crore

TVS Industrial & Logistics Parks (TVS ILP), which recently went public through a Rs 880 crore IPO, on Friday sold 4.5 per cent stake for Rs 51 crore to London-based Lingotto Investment Management, owned by Dutch group Exor. As per the deal, which involves picking up a large minority stake later, the Chennai-based logistics player has an enterprise value of Rs 2,800 crore. The TVS statement said the deal was carried out through secondary sale of 4.5 per cent in TVS Supply Chain Solutions for Rs 51.3 crore and the Dutch firm will soon acquire a significant minority stake in TVS ILP. Exor is a holding company incorporated in the Netherlands and is controlled by the Agnelli family. TVS ILP, a part of TVS Mobility Group, is present in 15 cities with 20 million sq ft of warehousing space. The deal with Lingotto is another milestone in the successful journey of TVS ILP and the parent will continue to hold a significant minority stake at the logistics arm, TVS Supply Chain Solutions ...

Pharma firm Valiant Lab's IPO subscribed 2.17 times on third day of bidding

The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 2.17 times on the third day of bidding on Friday. The initial share sale received bids for 1,65,77,925 shares against 76,23,030 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) was subscribed 3.11 times while the quota for non-institutional investors got subscribed 1.51 times. The portion for Qualified Institutional Buyers (QIBs) received 1.04 times subscription. Price range for the offer is Rs 133-140 a share. The IPO is an entirely fresh issuance of up to 1.08 crore equity shares. Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd -- and to meet the working capital requirements of the subsidiary company. Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company with it

Dee Development Engineers seeks Sebi nod to raise funds through IPO

Piping solutions provider Dee Development Engineers Ltd has filed draft papers with capital markets regulator Sebi to mop up funds through an Initial Public Offering (IPO). The initial share sale comprises fresh issuance of equity shares worth Rs 325 crore and an offer for sale of 79 lakh equity shares by a promoter Krishan Lalit Bansal, according to the Draft Red Herring Prospectus (DRHP). Currently, Bansal owns 74.74 per cent stake in the company. In addition, the company may consider mobilising Rs 65 crore in a pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced. As per the preliminary papers filed on Thursday, the funds mopped up through the fresh issuance of equity shares will be used for payment of debt, supporting working capital requirements and for general corporate purposes. SBI Capital Markets and Equirus Capital have been appointed as merchant bankers to manage the company's maiden public issue. Equity shares of the engineeri

Infosys receives Rs 26.5 lakh IGST demand; IHC to sell stake in Adani units

Shares of Yatra Online finished below their IPO price during their trading debut on Thursday

Pharma firm Valiant Lab IPO subscribed nearly 71% on second day of bidding

The initial public offer (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 71 per cent on day two of subscription on Thursday. The initial share sale received bids for 54,25,770 shares against 76,23,030 units on offer, as per NSE data. The category for retail individual investors (RIIs) was subscribed 1.27 times, while the quota for non-institutional investors received 29 per cent subscription. The portion for qualified institutional buyers (QIBs) was subscribed 5 per cent. The IPO is an entirely fresh issuance of up to 1.08 crore equity shares with no offer-for-sale component. The price range for the offer is Rs 133-140 a share. Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd. -- and to meet the working capital requirements of the subsidiary company. Valiant Laboratories is an active pharmaceutical ingredient or bul