Ipo India

OYO pre-files draft paper for IPO; likely to list around Diwali: Report

Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments. This route also provides flexibility to change primary issue size by 50 per cent till the Updated Draft Red Herring Prospectus (UDRHP) stage. Explaining the rationale for filing through the pre-filing route, a source said, "The market continues to be highly volatile globally and to an extent in India as well. Filing through the pre-filing route will give OYO some leeway on the timing of the listing, as well as on fine-tuning the issue size, basis the market conditions, to between USD 4

Sebi returns Go Digit General Insurance IPO papers; firm to refile

Markets regulator Sebi has returned the preliminary IPO papers of Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, and now the company is looking to refile the documents with certain updates. The company had filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in August 2022 to raise funds through an initial public offering (IPO). Go Digit's proposed IPO comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 10.94 crore equity shares by a promoter and existing shareholders. In the OFS, Go Digit offers to sell 10,94,34,783 equity shares. According to an update with Sebi on Tuesday, the markets regulator has returned the draft papers on January 30. In a statement, the insurance company said the DRHP (Draft Red Herring Prospectus) has been returned in terms of Sebi's ICDR (Issuance of Capital and Disclosure Requirements) rules, which exempts rights granted under employee

Sebi returns OYO's draft IPO papers, asks to refile with certain updates

Capital markets regulator Sebi has asked Oravel Stays Ltd, the parent company of travel-tech firm OYO, to refile the draft IPO papers with certain updates. The move might delay the Gurugram-based hospitality unicorn's initial public offering (IPO). OYO filed preliminary documents with the Securities and Exchange Board of India (Sebi) in September 2021 for a Rs 8,430 crore IPO. The proposed offering consists of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore. According to an update with Sebi's website on Tuesday, the markets regulator returned the company's draft red herring prospectus (DRHP) on December 30, 2022 and asked the firm to refile it with applicable updates/ revisions. However, the regulator has not elaborated on the updates or revisions required in the draft documents. Earlier, the company had filed an addendum to its DRHP which included its financials for the first half of FY23. It reported a profit of Rs 63 crore for

Mamaearth parent files papers for IPO, co-founders to dilute stake

Honasa Consumer was valued at $1.2 bn in January, making it the first unicorn of 2022

Market volatility forces many companies to let go of their IPO plans

Industry players say some companies plan to re-file their DRHPs so that they can have another stab at listing

TMS Ep332: Indian economy, Delhi Metro, IPO outlook, carbon-neutral IEX

What does 2022 tell about Indian economy in 2023? How Delhi Metro transformed the city's landscape? Will IPO investors remain steadfast in 2023? How IEX became a carbon-neutral platform? Answers here

2022 in review: IPOs that doubled your money or made holes in your pocket

After a stellar run last year, the IPO market seemed to have lost some momentum this year. Here are the IPOs that doubled your money or made holes in your pocket

Five Star Business Finance IPO kicks off: Should you subscribe?

The 1,960 crore initial public offering (IPO) of Five-Star Business Finance opened for subscription on Wednesday, November 9 and will close on Friday, November 11

Rupee logs best single-day gain since September 30 on strong FPI flows

The rupee settled at 82.44 per dollar on Friday versus 82.89 on Thursday

Freshworks faces class action lawsuit in US for false statements during IPO

One of the two law firms suing Freshworks is urging investors who have incurred losses of $100,000 to join the litigation, asserting that the company has violated federal security laws

The bells of Dalal Street welcome nine new SME IPOs today; what are these?

The first nine months of 2022 have already seen 87 SMEs make their IPOs, earning a total of Rs 1,460 crore

Electronics Mart IPO subscribed 1.7x on Day-1 on retail, QIB interest

The firm is looking to raise Rs 500 crore from the IPO to fuel its store and warehouse expansion plan

Harsha Engineers soars 47% on debut after strong demand for shares in IPO

At the last close, the company was valued at Rs 4,424 crore

Sebi likely to step up disclosure norms for IPOs of new-age companies

Sebi has attracted some criticism following a meltdown in shares of new-age companies such as Zomato, Paytm and Policy Bazaar

Harsha Engineers IPO to open Sep 14, price band Rs 314-330 a share

Fresh fund raise Rs 455 crore, secondary share sale Rs 300 crore; company eyeing Rs 3,000 crore valuation; firm makes brass, steel and polyamide cages and stamped components

It's raining IPOs as markets rebound; 7 firms plan to raise Rs 10,425 cr

In August, 7 companies file DRHPs to raise Rs 10,425 cr - the most in 5 months

Tamilnad Mercantile Bank IPO subscribed 2.9x on strong retail interest

Response muted when compared to previous two IPOs; Lender to issue 15.84 million fresh shares via offering

Inox Wind to become debt-free after Rs 740-crore IPO offering: Report

Wind energy solutions provider Inox Wind will become a debt-free company after its Rs 740-crore initial share, which is awaiting Sebi nod, is over and fund infusion by promoters, according to its regulatory filing. According to the Draft Red Herring Prospectus (DRHP) filed with the market regulator, as of June 2022, the company had a gross debt of Rs 1,717.8 crore and cash balance of Rs 222 crore, and a net debt of Rs 1,494.8 crore on its books. Last week, the company said its promoters had agreed to infuse up to Rs 800 crore by subscribing to non-convertible, non-cumulative participating redeemable preference shares on a private placement basis. The fund will be infused by two promoter group entities -- Inox Leasing & Finance which will pump in up to Rs 600 crore, and Inox Wind Energy that will infuse up to Rs 200 crore. The entire money thus raised will be used to retire debt, a statement from the company said on August 30. According to the DRHP, the entire proceeds from the IPO

Tamilnad Mercantile Bank IPO subscribed 0.8x on first day of issue

TMB is looking to issue 15.84 million fresh shares in the IPO. At the upper end of the price band, the bank will raise Rs 832 crore and will be valued at Rs 8,314 crore

Fewer IPOs in 2022: How long before the primary market revs up?

As against over 60 companies that took the IPO route last year, only 16 companies have floated their initial public offers this year. Take a dive into the reasons behind the lull this year