Page 2 - Ipos

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

Natural stones firm Global Surfaces sets IPO price at Rs 133-140 per share

Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, on Friday said it has set a price band of Rs 133-140 a share for its Initial Public Offering (IPO). The initial share sale, which opens for subscription on March 13, will close on March 15, the company said in a statement. The 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. At the upper end of the price band, the company is expected to fetch Rs 155 crore from the IPO. Half of the issue size has been reserved for qualified institutional buyers, up to 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Unistone Capital is the sole book running lead manager to the issue. The equity shares of the company will

Tata Technologies, a unit of Tata Motors, seeks Sebi approval for IPO

The initial sale in the engineering unit of luxury carmaker Jaguar Land Rover's owner will comprise a 23.6% stake, according to a filing

Edtech startup Byju's to raise $250 mn in Aakash pre-IPO funding

Aakash is eyeing an initial public offering (IPO) and it is looking to raise the capital to create an interim event and set the stage, according to the sources

Divgi TorqTransfer Systems IPO Subscribed 38% on second day of offer

At the upper end of the price band, the issue could raise to Rs 412 crore

Divgi TorqTransfer Systems IPO receives 12% subscription on first day

The initial public offering of automotive component manufacturer Divgi TorqTransfer Systems received 12 per cent subscription on the first day of the sale on Wednesday. Bids for 4,75,800 shares were received against 38,41,800 shares on offer, according to an update on the NSE. The category meant for Retail Individual Investors (RIIs) was subscribed 60 per cent and that of non-institutional investors got 6 per cent subscription. The Initial Public Offer (IPO) has fresh issue aggregating up to Rs 180 crore and an Offer For Sale of up to 39,34,243 shares. The price band is Rs 560-590 a share. Divgi TorqTransfer Systems on Tuesday said it has raised more than Rs 185 crore from anchor investors. At the upper-end of the price, the IPO is expected to fetch a little more than Rs 412 crore. 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. Inga Ventures

Divgi TorqTransfer Systems sets IPO price band at Rs 560-590 per share

The IPO will open on Wednesday and conclude on Friday

Divgi TorqTransfer Systems sets IPO price band at Rs 560-590 per share

Automotive component manufacturer Divgi TorqTransfer Systems on Monday said it has fixed a price band of Rs 560-590 a share for its Rs 412-crore initial public offering (IPO). The initial share-sale will be open for public subscription during March 1-3. The bidding for anchor investors will open on February 28. The IPO comprises fresh issue of equity shares worth Rs 180 crore and an offer-for-sale (OFS) of 39.34 lakh shares by investors and other selling shareholders, the company said. As part of the OFS, Oman India Joint Investment Fund II, NRJN Family Trust, Bharat Bhalchandra Divgi, Sanjay Bhalchandra Divgi, Ashish Anant Divgi, Arun Ramdas Idgunji and Kishore Mangesh Kalbag will offload shares. At the upper-end of the price, the IPO is expected to fetch a little over Rs 412 crore. 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. About 75 per

Fabindia withdraws $482 million IPO due to rough market conditions

Fabindia said it has withdrawn its $482.43 million IPO due to rough market conditions, becoming the latest company to shelve listing plans as interest rate worries pressure stock markets

With IPOs losing steam, Sebi steps in with hard underwriting move

Watchdog looks to clear air for allowing investment bankers to buy unsubscribed portion of a share sale

IPO-bound Swiggy announces Dineout offerings for all users across 24 cities

The firm's quick commerce arm, Instamart, is currently operational in over 25 cities, and Genie - its pickup and drop service - is available in 68 cities

Sebi proposes to tighten regulations on issuance of bonus shares

The market watchdog noted that the proposed change will help mitigate the mismatch between the listed capital and issued capital of the issuer

IPO-bound OYO looks to double number of premium hotels in India this year

The firm plans to add about 1800 premium hotels this year, with a focus on key business cities

Rishabh Instruments gets Sebi's nod for IPO, to be listed both on NSE, BSE

Rishabh Instruments, a global energy efficiency solution company, has received capital markets regulator Sebi's nod to mop-up funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 75 crore and an offer for sale (OFS) for up to 94.17 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP). Under the OFS, Asha Narendra Goliya will offload 25 lakh equity shares, Narendra Rishabh Goliya (HUF) will sell 5.17 lakh shares, Rishabh Narendra Goliya will dispose of 4 lakh shares and SACEF Holdings II will sell 60 lakh equity shares in the company. The company, which had filed draft papers with the Securities and Exchange Board of India (Sebi) in December 2022, obtained its observation letter on February 17, 2023, an update with the regulator showed on Tuesday. In Sebi's parlance, its observation implies its go ahead to launch initial share-sale. Going

Indian jeweller Joyalukkas withdraws Rs 2,300 cr initial public offering

About Rs 1400 crore ($169.16 million) from the IPO funds were to be used for repayment or pre-payment of debt, the company had said in its draft prospectus released in March last year

Drone maker ideaForge Technology files preliminary IPO papers with Sebi

Drone maker ideaForge Technology has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue comprises fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 48,69,712 equity shares by one of the promoters and existing shareholders, according to the draft red herring prospectus (DRHP). Those selling shares in the OFS include Ashish Bhat, A&E Investment LLC, Agarwal Trademart, Celesta Capital II Mauritius, Celesta Capital II-B Mauritius, Export Import Bank of India, Indusage Technology Venture Fund I, Qualcomm Asia Pacific Pte Ltd and Society for Innovation and Entrepreneurship. Also, the company may consider an issue of shares aggregating up to Rs 60 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issuance to the tune of Rs 50 crore will be utilised for debt payment, Rs 135 crore towards funding working capital requirements and