IPOs

The company has just secured $300 million in funding, led by a sovereign fund, pushing the valuation from $5 billion to $6 billion

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

Number of IPOs happening in India probably equal to aggregate everywhere else combined, says Australia-headquartered firm

The approvals come at a time when capital raising by way of IPOs has slowed to a crawl, with only four issues hitting the market so far this calendar year

Deal values dip sequentially as well; despite this India emerges as second-highest funded nation, behind the US

The offer comprised new shares worth Rs 320 crore and an offer for sale component of Rs 545 crore

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

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

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

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

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

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

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

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 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

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

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

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

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.

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