Page 3 - Ipos

General insurer Go Digit's IPO plan delayed, Sebi returns issue papers

Firm will have to refile for public issue

How Snapdeal is creating focused brands to capture value e-commerce segment

Forms subsidiary to create such brands, is pivoting towards Bharat to reach value-conscious customers in tier-2 and beyond

Sebi asks PayMate India to refile IPO papers with certain updates

Sebi has asked B2B payments and services provider PayMate India to refile the documents for the initial public offering with certain updates. PayMate India had filed the Draft Red Herring Prospectus (DRHP) for a Rs 1,500 crore-IPO with the Securities and Exchange Board of India (Sebi) in May 2022. The proposed Initial Public Offering (IPO) comprises fresh issue of equity shares worth Rs 1,125 crore and an Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according to the draft papers. The company's promoters -- Ajay Adiseshan and Vishvanathan Subramanian and investors -- as well as Lightbox Ventures I, Mayfield FVCI Ltd, RSP India Fund LLC and IPO Wealth Holdings are to sell shares through the OFS. Besides, certain existing shareholders are offering to offload shares through this route. Currently, promoter and promoter group hold 66.70 per cent stake in the company and the rest is with public shareholders. According to an update on Sebi's websi

Avalon Technologies, Udayshivakumar Infra get Sebi's approval to float IPO

Electronic manufacturing services provider Avalon Technologies and construction firm Udayshivakumar Infra have received capital markets regulator Sebi's go ahead to raise funds through initial public offerings (IPOs). The two companies, which filed their respective preliminary IPO papers with the markets regulator during August and September 2022, obtained observation letters from it on January 16, an update with the Securities and Exchange Board of India (Sebi) showed on Monday. In Sebi's parlance, its observation implies its go ahead to launch the initial share-sale. Going by the draft papers, the IPO of Avalon Technologies comprises fresh issue of equity shares worth up to Rs 400 crore and an Offer-for-Sale (OFS) aggregating up to Rs 625 crore by promoters and existing shareholders. The company may consider raising Rs 80 crore through a pre-IPO placement, and if such a placement is undertaken, the size of the fresh issue will be reduced. Proceeds from the fresh issue would be u

IT solutions firm Rashi Peripherals files Rs 750-cr IPO papers with Sebi

The company may consider a private placement of equity shares for up to Rs 150 crore. If such placement is completed, the fresh issue size will be reduced

IPO-bound OYO to refile DRHP with updates to Sebi by mid-February

Market regulator asked hospitality company to submit application again, give information on risk factors and litigation

Indian IPOs lit up after listing even as major global markets flashed red

India's outperformance vis-a-vis other markets happened in a year that witnessed high inflation, rising interest rates, and a bloody war in Europe

Sah Polymers has dream market debut, rises 37% on the listing day

The Rs 66-crore initial public offering of Sah Polymers was subscribed 17.5 times

In a first, India among the top five ECM markets globally in 2022

Interestingly, in 2022 India also broke into the top-five league in terms of market capitalization

Signature Global sells housing properties worth Rs 1,330 cr in Apr-Sep FY23

Realty firm Signature Global, which plans to launch a public issue soon, has sold properties worth Rs 1,330 crore in the first half of this fiscal. The company had achieved sales bookings of Rs 2,590 crore in the entire previous financial year. Credit rating agency Icra has mentioned this in a report while reaffirming its rating with a stable outlook on Signature Global's term loans. Signature Global has got market regulator Sebi's nod to launch its Initial Public Offer (IPO) to raise up to Rs 1,000 crore for reducing debt and future expansion. The IPO comprises a fresh issue of equity shares and an offer for sale (OFS). In its report, Icra said the rating factors in the healthy sales velocity of the Signature Global Group's projects in 2021-22 and the first six months of this fiscal on the back of good response to the company's new project launches. The group sold a 5.46 million square feet area with a value of Rs 2,590 crore in FY22 and 1.84 million square feet for Rs 1,330 cr

JG Chemicals files preliminary papers with Sebi; to raise funds via IPO

Zinc oxide manufacturer JG Chemicals has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its draft red herring prospectus(DRHP). As part of the OFS, Vision Projects & Finvest Pvt Ltd will sell 36.40 lakh shares, Suresh Kumar Jhunjhunwala (HUF) will offload 12.70 lakh shares, Anirudh Jhunjhunwala (HUF) will divest 6.50 lakh shares and Jayanti Commercial Ltd will offer 1.40 lakh equity shares. The firm may consider a pre-IPO placement of equity shares aggregating to Rs 40 crore or a secondary sale of 28.50 lakh equity shares by its selling shareholders or a combination thereof. If such placement is undertaken then the fresh issue size or offer-for-sale portion will be reduced. Proceeds from the fresh issue will be used for ...

OFS still commands the lion's share in fundraising through IPO, shows data

SME segment has a higher share than mainboard companies

Sah Polymers IPO subscribed 17.46 times on last day of offer: NSE data

The initial public offer of Sah Polymers was subscribed 17.46 times on the last day of subscription on Wednesday. The initial share-sale received bids for 9,79,44,810 shares against 56,10,000 shares on offer, as per data available with the NSE. The Retail Individual Investors (RIIs) part was subscribed 39.78 times, the category for non-institutional investors received 32.69 times subscription and Qualified Institutional Buyers (QIBs) 2.40 times. The Initial Public Offer (IPO) had a fresh issue of 1.02 crore equity shares. Price range for the offer was at Rs 61-65 a share. Pantomath Capital Advisors was the manager to the offer. The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel. The equity shares are proposed to be listed on the BSE and NSE.

Radiant Cash Mangement's shares end debut session at an 11.4 % premium

The company plans to use the proceeds of the fresh issue to fund its working capital requirements and capital expenditure requirements for the purchase of specially fabricated armoured vans

Radiant Cash makes a decent debut, lists at 10% premium to its issue price

Post listing, the stock moved higher to Rs 110, 17 per cent higher over its issue price of Rs 94 per share on the NSE

IPO fundraising in India halves in 2022; 40 firms raised Rs 59,412 cr

Forty Indian corporates raised Rs 59,412 crore through main board IPOs in calendar year 2022, half of the Rs 118,723 crore (all-time high) mobilised by 63 IPOs in 2021, according to PRIME Database

Rishabh Instruments files draft papers with Sebi to mobilise funds via IPO

Rishabh Instruments, a global energy efficiency solution company, has filed preliminary papers with markets regulator Sebi to mop-up funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating to 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. Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced. Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility i

Sah Polymers IPO subscribed 2.37 times on Day 2 of offer: NSE data

The Initial Public Offer (IPO) of Sah Polymers was subscribed 2.37 times on the second day of subscription on Monday. The IPO received bids for 1,33,06,420 shares against 56,10,000 shares on offer, according to NSE data. The category meant for Retail Individual Investors (RIIs) was subscribed 7.46 times, while the portion for non-institutional investors received 2.94 times subscription and Qualified Institutional Buyers (QIBs) 39 per cent. The initial public offer has a fresh issue of 1.02 crore equity shares. Price range for the offer is at Rs 61-65 a share. Pantomath Capital Advisors is the manager to the offer. The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel. The equity shares are proposed to be listed on the BSE and NSE.

Best of BS Opinion: Market sentiment, economic stress tests, and more

Here is the best of Business Standard's opinion pieces for today

Women leaders: A way to IPO success?

Indian society may be more advanced than we think it is