Page 10 - Ipos

IPO-bound OYO's valuation dips in pvt market after markdown by SoftBank

Valuation of IPO-bound OYO in the private market has dipped to around USD 6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books, according to industry players. In the week ended September 30, 2022, nearly 12.3 lakh shares of the company were sold in the private market as compared to over 1.6 lakh shares sold in the previous week. The sell-off followed reports that its largest investor SoftBank has cut the valuation of the hospitality platform by 20 per cent to USD 2.7 billion in its books, said a source. When OYO updated its financials in its draft prospectus last month, reporting positive EBIDTA besides the narrowing of losses, the company's share price in the private market had risen to Rs 94 per share. However, in the subsequent days following reports of the markdown of OYO's valuation by SoftBank, the company's valuation dipped by nearly 13 per cent to Rs 81 per share, said the source. "Last year, ...

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

Tracxn Technologies IPO to open Oct 10; sets price band at Rs 75-80/share

Private market intelligence platform Tracxn Technologies on Tuesday said it has fixed a price band of Rs 75-80 per share for its Rs 309-crore initial public offering (IPO). The initial share-sale will open for public subscription on October 10 and close on October 12, the company said in a statement. The IPO will be entirely an offer-for-sale (OFS) of 38,672,208 equity shares by promoters and investors. The OFS will see sale of up to 76.62 lakh shares each by promoters Neha Singh and Abhishek Goyal, up to 12.63 lakh shares each by Flipkart founders Binny Bansal and Sachin Bansal. Up to 1.09 crore shares will be offloaded by Elevation Capital, 40.2 lakh shares by Accel India IV Mauritius, 21.81 lakh shares by SCI Investments V, 2.07 lakh shares by Sahil Barua, among others. At the upper end of the price band, the IPO is expected to garner Rs 309 crore. The Bengaluru-headquartered company operates on a software as a service (SaaS) model and is among the leading market intelligence

Sensex up 1,277 pts, ends above 58K; Nifty tops 17,250; banks, metals lead

CLOSING BELL: IndusInd Bank, Bajaj Finance, TCS, HDFC, Bajaj Finserv, Tata Steel, HDFC Bank, Wipro, L&T, Axis Bank, ITC, SBI, and Infosys were the top Sensex gainers

Review, GMP, valuations: Should you subscribe to Electronics Mart IPO?

The grey market premium (GMP) on Elecrtonics Mart India's (EMI's) shares was Rs 30-35 apiece, translating into a listing pop of up to 59 per cent

Stocks to Watch: TCS, HDFC, Oil, Tata Steel, KEC, Banks, Coal India

Stocks to Watch Today: TCS is set to win $2 billion deal. Also, shares of oil related companies are likely to be in focus ahead of the OPEC+ meet on likely production cut.

87 SME IPOs hit primary market to raise Rs 1,460 crore in Jan-September

Strong performance of past IPOs spurred investors' interest, with 87 small and medium enterprises (SMEs) garnering Rs 1,460 crore through initial share-sales in the first nine months of the year. This was way higher than 56 companies that had raised Rs 783 crore through initial public offering (IPO) in the entire 2021, the industry data showed. Further, the remaining part of the year 2022 can see more mature companies accessing the platform. Moreover, tech-based and larger broking players can play a major role in developing the SME platform, Uday Nair, Director at Fedex Securities, said, adding, "overall the year is good for SME companies looking to raise capital from the exchange". "SME segment is not impacted by the bearishness in the market and investors are looking forward to the healthy pipeline of IPOs going forward, many companies have filed or planning to file their documents for listing on the BSE SME and NSE Emerge platforms," Prateek Jain, Director at Hem Securities, ...

Street signs: Trend weak on FPIs, Electronics Mart India IPO, and more

Analysts are upbeat on shares of ceramic tile manufacturers, even as their July-September quarter performance is likely to be weak

Sebi clears slew of proposals; mandates tighter disclosure norms for IPOs

Buch said several decisions taken by the Sebi board were aimed at liberalisation and promoting market development

Sebi tightens disclosure norms for IPOs; to relax rules for open offers

Markets regulator Sebi on Friday approved a slew of changes to various regulations, including tightening the disclosure requirements for initial public offerings. At its board meeting here, Sebi also decided to relax the pricing rules for open offers with respect to disinvestment of public sector undertakings. For IPOs, the regulator cleared the proposal mandating the issuers to disclose the offer price based on past transactions and fund raising activities. Also, companies contemplating IPOs will soon have the option to make confidential pre-filing of offer documents. Besides, the watchdog's board gave its nod to bring buying and selling of mutual fund units under the ambit of insider trading rules.

New funding mechanism takes wing for HNIs bidding Rs 2-10 lakh in an IPO

Under the new mechanism, non-banking finance companies (NBFCs) are providing up to Rs 8 lakh on a margin amount of Rs 2 lakh for a flat fee of Rs 2,000, said industry sources.

BigBasket to raise $200 million at a valuation of $3.5 billion: Report

The infusion of fresh capital comes at a time when the company is aiming to expand its core offerings to compete with competitors like Dunzo, Zepto, Swiggy Instamart and others

IPO watch: Companies taking longer to go public after Sebi approval

The stock market regulator usually attempts to respond to IPO documents in 30 days

IPO-bound boAt parent to scale up local manufacturing for global expansion

IPO-bound Imagine Marketing, the parent company of wearables brand boAt, has firmed up plans to become a made-in-India global lifestyle brand by increasing its overseas reach, according to a top company official. The company is awaiting regulatory nod for a Rs 1,100-crore public issue, of which Rs 900 crore will be fresh issue and the rest offer-for-sale. It expects to manufacture 60 lakh units (nearly double its present output) in H1 of FY23 under its make-in-India strategy and scale it further as the demand and market reach grow, which will also help it launch products faster and at lower prices, Aman Gupta, the co-founder and chief marketing officer, told PTI. Established in 2013 by Aman Gupta and Sameer Mehta in Mumbai, Imagine Marketing offers a product portfolio ranging from audio gear and smart wearables to personal grooming products and mobile accessories. In the domestic market, it has been holding the pole position in the overall wearables category for the third consecuti

Top headlines: IPO disclosure norms, moonlighting, telecom bill, and more

From the provisions in the new telecom bill to Sebi coming up with disclosure norms for IPOs of new-age companies, here are the top headlines on Friday

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

Automotive component firm Divgi Torqtransfer Systems files IPO papers

Automotive component company Divgi Torqtransfer Systems Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO will comprise fresh issue of equity shares aggregating up to Rs 200 crore and an offer for sale (OFS) of up to 31,46,802 equity shares by investors and other selling shareholders, according to the draft red herring prospectus (DRHP). As part of the OFS, Oman India Joint Investment Fund II, Nrjn Family Trust, Bharat Bhachandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji and Kishore Mangesh Kalbag will offload shares. Proceeds from the fresh issue will be used towards funding capital expenditure requirements for the purchase of equipment for its manufacturing facilities and general corporate purposes. Divgi is an automotive component entity which has the capability to develop and provide system level transfer case, torque coupler, and Dual Clutch Automatic Transmission

Bank of America expects IPOs in India to pick up within six months

Purohit expects mergers, acquisitions activity in India will continue to be strong, aided by consolidation in consumer facing industries such as financial services, consumer internet-based companies

Oyo reports its first EBITDA positive quarter, reduces FY22 losses

In FY22 revenues were Rs 4,905 crore, up 18 per cent against Rs 4,157.3 crore reported in FY21

Oyo files fresh docs with Sebi for IPO in early 2023 as growth resumes

Oyo, formally known as Oravel Stays Ltd., is internally working toward a January IPO as executives are encouraged by a pick-up in demand