Page 138 - Ipos

Should you subscribe to Avalon Tech IPO? Here's what brokerages recommend

On Monday, shares of Avalon Technologies enjoyed Rs 30 premium in the grey market, which translated to a likely listing price of Rs 465 apiece on the upper price band

The Souled Store raises Rs 135 cr from Xponentia, mulls IPO in next 3-4 yrs

The firm will use the fresh capital to expand into new product categories and launch over 100 stores pan India within the next 2 years

Mamaearth IPO in the works, engaged with regulators: CEO Varun Alagh

The firm's annual profit was Rs 14 crore the last year

Less need for capital or headwinds? OYO plans to cut IPO size by two-thirds

Agarwal projects 19% jump in FY23 revenue to Rs 5,700 crore

Mamaearth denies claims of IPO withdrawal, expects SEBI nod by next month

Earlier in the day, a report by Reuters said that the company has delayed its IPO due to unfavourable market conditions

Mamaearth's parent puts IPO on hold amid weak market sentiment: Report

Backed by investors such as Sequoia Capital and Belgium's Sofina, Mamaearth is now in a "wait and watch mode"

Avalon Technologies IPO opens next week: Check GMP, other details here

Avalon Technologies IPO GMP: According to market observers, the IPO is commanding a great market premium (GMP) of Rs 22 per share

Electronic firm Avalon Technologies to launch its Rs 865-cr IPO on April 3

The Rs 865 crore initial share sale of electronic manufacturing services firm Avalon Technologies will open for public subscription on April 3. The three-day initial public offering (IPO) will close on April 6, and the bidding for anchor investors will open on March 31, according to the red herring prospectus (RHP). The company has cut the size of its IPO to Rs 865 crore from Rs 1,025 crore planned earlier. Now, it plans to mobilise Rs 320 crore from fresh issuance of equity shares and Rs 545 crore through an offer for sale (OFS) of shares by promoters and existing shareholders. Proceeds from the fresh issue would be used towards debt payment, funding working capital requirements and general corporate purposes. In January, the company received capital markets regulator Sebi's go-ahead to float the IPO. Founded in 1999, Avalon is an end-to-end electronic manufacturing service solutions provider and counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Mala

BoB-backed IndiaFirst Life Insurance gets Sebi approval to launch IPO

Bank of Baroda promoted IndiaFirst Life Insurance Company (IndiaFirst Life) has received capital markets regulator Sebi's approval to float Initial Public Offering (IPO). The IPO comprises a fresh issue of up to Rs 500 crore along with an offer for sale (OFS) of up to 14,12,99,422 equity shares by the promoters and existing shareholders of the company. Bank of Baroda will sell 8,90,15,734 equity shares, whereas Union Bank of India will sell 1,30,56,415 equity shares in the OFS. Carmel Point Investments India would offload 3,92,27,273 equity shares during the primary stake sale. Bank of Baroda, India's third largest public sector lender, holds a 65 per cent stake in the company, followed by Warburg Pincus affiliate Carmel Point Investments India which holds 26 per cent and Union Bank of India with 9 per cent stake. The firm may consider a private placement on a preferential basis or a rights issue aggregating up to Rs 100 crore. If such a placement is completed, the fresh issue size

Udayshivakumar Infra IPO opens today: Check GMP, other key details here

Udayshivakumar Infra IPO allotment date: The share allocation of the IPO will take place on March 28 and the shares will be credited to the demat account of the investors on March 31

Vaidyaratnam Group plans to double revenue to Rs 500 cr, IPO by 2030

Thrissur-based ayurveda group Vaidyaratnam is looking at closing the current fiscal with a Rs 240 crore revenue and double the same by 2030 when it hopes to go public. The 99-year-old entity is the only ayurveda group that follows the holistic Ashtavaidya tradition. It was started by the late Eledath Thaikkattu Neelakandan Mooss in Thaikkattussery in Thrissur in 1924. The company recorded a revenue of Rs 220 crore, of which Rs 170 crore came in from products/medicines and the rest from services in FY22. This year, they expect only a marginal increase in revenue to Rs 240 crore (Rs 190 crore from products and the rest from services) due to the sharp spike in input costs. "Our 2030 plan envisages more than doubling the turnover to Rs 500 crore. We hope to drive this primarily by entering new categories of treatment like infertility, sports and lifestyle diseases, among others -- and also launching new medical products, especially in the nutraceuticals," Ashtavaidyan Dr Yadu Narayanan

OYO launches accelerator programme for first-generation hoteliers

It will provide technology, relationship managers, financial support, and access to OYO's network

IPO filings halve in FY23 as outlook for new share sales worsens

Industry players said the IPO market has taken a turn for the worse after a blockbuster FY22 amid fall in valuations

Global Surface's IPO subscribed over 12 times on final day of offer

The initial share sale of Global Surfaces Ltd was subscribed 12.21 times on the final day of the offer on Wednesday. The Initial Public Offering (IPO) received bids for 9.46 crore equity shares against 77.49 lakh shares on offer, according to the NSE data. The portion for Non-Institutional Investors (NIIs) received 33.10 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 8.95 times and the Retail Individual Investors (RIIs) portion was subscribed 5.12 times. Global Surfaces is into processing of natural stones and manufacturing engineered quartz. The company's IPO comprises fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares by promoters -- Mayank Shah and Sweta Shah. Funds raised through fresh issuance will be used for setting up the company's proposed facility -- Global Surfaces FZE -- in Dubai. Unistone Capital is the sole book running lead manager to the issue.

Global Surfaces IPO subscribed 12.2 times on strong HNI, retail interest

The rich investor portion was covered 33 times compared with 5.1 times for the retail participant; QIB portion was muted at 9%

Deals plunge by 60% to $1.8 billion in February on deepening funding winter

The deepening funding winter that the startups face and the near dry-up of IPOs singed the deal street as the total value of deals plunged by 60 per cent to USD 1.8 billion in February, shows an analysis. According to Grant Thornton, the industry saw just 89 deals worth USD 1.8 billion in February, which is 60 per cent lower than the year ago period in value terms and down by 54 per cent year-on-year in volume as investors continued to tread cautiously amid macroeconomic uncertainties. This is the second-lowest deal volume and the lowest value since 2014. Of the total deals, M&As saw significant downtrend both in terms of volume which fell 48 per cent to 24 deals, and by 47 per cent in value clocking at USD 755 million compared to February 2022. The IPO segment was the worst with just one issue of USD 8 million, compared to three issues raising USD 1 billion a year ago. While M&As were dominated by cross-border deals, particularly outbound transactions on the back of one ...

Credit Suisse sees First Boston IPO by 2025 amid investor search

Credit Suisse announced earlier today that senior leaders in the carved-out unit are expected to receive up to 20% of shares

Divgi TorqTransfer erases listing gains; slides 5% below issue price on NSE

The stock was listed with a 5 per cent premuim at Rs 620 on the NSE. This was over its issue price of Rs 590 per share

Global Surfaces IPO opens today: GMP, subscription status, all details here

Global Surfaces IPO subscription status: According to BSE, as of 10:40 AM on Monday, the issue has been subscribed 0.04 times

From debt to equity: Why are India's 'national champions' changing tack?

Among reasons for the shift could be higher cost of servicing debt, bond holders' risk awareness making roll-over option expensive at the time of repayment, and reputation issues, writes T N Ninan