Page 4 - Ipos

IPO fundraising halves to Rs 59,412 cr in 2022 despite LIC's mega offer

If one were to remove the state-owned insurer's Rs 21,008 crore offer, the figure would come to a third of the amount raised in 2021

Sah Polymers IPO subscribed 86% on first day, RII subscribed 2.07 times

The initial public offer of Sah Polymers was subscribed 86 per cent on the first day of subscription on Friday. The initial share-sale received bids for 48,04,470 shares against 56,10,000 shares on offer, according to data available with the NSE. The category meant for Retail Individual Investors (RIIs) received subscription for 2.07 times, non-institutional investors was subscribed fully and Qualified Institutional Buyers (QIBs) 38 per cent. The IPO has a fresh issue of 1.02 crore equity shares. The price range for the offer is 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.

Radiant Cash Management Services IPO subscribed just 53% on last day

The initial public offer of Radiant Cash Management Services was subscribed just 53 per cent on the last day of subscription on Tuesday. The Rs 388-crore initial share-sale received bids for 1,45,98,150 shares against 2,74,29,925 shares on offer, according to NSE data. The category meant for Qualified Institutional Buyers (QIBs) was fully subscribed, while non-institutional investors portion received 66 per cent subscription and Retail Individual Investors (RIIs) 20 per cent. The Initial Public Offer (IPO) has a fresh issue of up to Rs 60 crore and an offer for sale of up to 33,125,000 equity shares. Price range for the offer is at Rs 94-99 a share. IIFL Securities, Motilal Oswal Investment Advisors and YES Securities were the managers to the offer.

James Murdoch-Uday Shankar ditch SPAC route for their M&A ventures

Seven Islands will now make their investments through Bodhi Tree Systems

Radiant Cash Management Services IPO subscribed 11% on second day

The initial public offer of Radiant Cash Management Services was subscribed 11 per cent on the second day of subscription on Monday. The initial share-sale received bids for 29,76,450 shares against 2,74,29,925 shares on offer, as per NSE data. The category meant for Qualified Institutional Buyers (QIBs) was subscribed 16 per cent, while the portion for Retail Individual Investors (RIIs) received 12 per cent subscription and non-institutional investors 3 per cent. The Initial Public Offer (IPO) has a fresh issue of up to Rs 60 crore and an offer for sale of up to 33,125,000 equity shares. The price range for the offer is at Rs 94-99 a share. Based on the upper band of the share price, the IPO is expected to fetch Rs 388 crore. IIFL Securities, Motilal Oswal Investment Advisors and YES Securities are the managers to the offer.

Gandhar Oil Refinery files IPO with Sebi; issues equity worth Rs 357 crore

Gandhar Oil Refinery (India) Limited has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth Rs 357 crore and an offer for sale (OFS) of 1.2 crore by promoters and existing shareholders, according to the draf red herring prospectus (DRHP). Fund raising through the OFS component is expected to be Rs 500 crore, market sources said. Those offering shares in the OFS include promoters Ramesh Babulal Parekh, Kailash Parekh and Gulab Parekh and other shareholders, Fleet Line Shipping Services LLC, IDFC First Bank Limited, Denver Bldg Mat & Dcor TR LLC and Green Desert Real Estate Brokers. Proceeds from the fresh issue component will be used for payment of debt and for purchase of equipment and civil work required for expansion in capacity of automotive oil at Silvassa plant. In addition, funds will be utilised for expansion in capacity of petroleum jelly and ...

Landmarks Cars makes weak debut; stock lists 7% below issue price

Post listing, the stock extended decline and slipped 12 per cent below its issue price to Rs 446.45

71% IPOs of 2022 at premium; will retail investor euphoria sustain in 2023?

Adani Wilmar, Venus Pipes & Tubes, Hariom Pipe Industries and Veranda Learning Solutions are the top multi-bagger debutants that delivered 109-135 per cent returns in 2022

Droneacharya Aerial sees stellar debut, lists at 89% premium to issue price

Post listing, the stock froze 5 per cent upper circuit at Rs 107.10 and almost doubled or zoomed 98 per cent from its issue price

Elin Electronics IPO subscribed 95% on Day 2 of offer

The Initial Public Offer (IPO) of electronics manufacturing services company Elin Electronics was subscribed 95 per cent on the second day of subscription on Wednesday. The IPO received bids for 1,34,54,580 shares against 1,42,09,386 shares on offer, as per NSE data. The category meant for non-institutional investors was subscribed 1.29 times, Retail Individual Investors (RIIs) received 1.33 times subscription and Qualified Institutional Buyers (QIBs) portion 1 per cent. The IPO has a fresh issue of up to Rs 175 crore and an offer for sale of up to Rs 300 crore, aggregating up to Rs 475 crore. The initial share-sale of Elin Electronics received 37 per cent subscription on the first day of offer on Tuesday. Price range for the offer is at Rs 234-247 a share. Delhi-based Elin is a manufacturer of end-to-end product solutions for major brands of lighting, fans, and small kitchen appliances, and a leading fractional horsepower motors manufacturer in the country. Axis Capital and JM

KFin Technologies IPO subscribed 2.6 times on concluding day of issue

KFin Technologies first considered launching a Rs 2,400-crore IPO but reduced the issue size to Rs 1,500 crore to align with market conditions

Radiant Cash IPO to open on Friday; sets price band at Rs 94-99 per share

Radiant Cash Management Services on Tuesday said it has fixed a price band of Rs 94 to Rs 99 a share for its Rs 388-crore initial public offering. The initial share-sale will open for public subscription during December 23-27, the company said in a statement. The IPO comprises fresh issue of shares worth up to Rs 60 crore and an offer for sale (OFS) of 33,125,000 shares by promoter David Devasahayam and private equity firm Ascent Capital Advisors India. In 2015, Ascent Capital had acquired 37.2 per cent stake in the company. Based on the upper band of the share price, the IPO is expected to fetch Rs 388 crore. Proceeds from the fresh issue component will be used for funding working capital requirements as well as capital expenditure requirements for purchase of specially fabricated armoured vans, the Chennai-based company said. Investors can bid for a minimum of 150 equity shares and in multiples of 150 equity shares thereafter. IIFL Securities Limited, Motilal Oswal Investment

Fintech player Zaggle files IPO papers with Sebi to mobilise funds

Fintech player Zaggle Prepaid Ocean Services Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The IPO (initial public offering) comprises fresh issue of equity shares worth Rs 490 crore and an offer for sale (OFS) component of 1.05 crore stocks by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP). Those offering shares in the OFS include promoters -- Raj P Narayanam and Avinash Ramesh Godkhindi and investors -- VenturEast Proactive Fund LLC, GKFF Ventures, VenturEast SEDCO Proactive Fund LLC, and Ventureast Trustee Company. Proceeds from the fresh issue would be utilised towards customer acquisition and retention, development of technology and products, payment of debt and for general corporate purposes. Founded in 2011, the company operates in the business-to-business-to-customer segment. It has created a market niche in the country by offering a combined soluti

Sebi to issue consultation paper for secondary market ASBA by March

Market regulator also working on new discussion paper for ESG rating providers

Rs 1,500-cr Kfin Technologies IPO opens for subscription: Should you bet?

With complete offer for sale (OFS), shares of this financial services platform are priced in the range of Rs 347-366 apiece

Sell-downs, IPOs dominate private equity exits in November, shows data

November proved to be a good month for private equity (PE) and venture capital (VC) funds as far as exits via initial public offerings (IPOs) and sell-downs in listed firms were concerned

Inox group plans Rs 1,000-crore IPO of cryogenic equipment maker in 2023

InoxCVA's offering may hit primary market next year

IPO pipeline in India seen active in 2023 on smaller deals, shows data

Only 2 companies raised more than $500 mn via public offers in 2022

Landmark Cars' initial public offering subscribed 39% on Day 2 of offer

The Initial Public Offer (IPO) of automobile dealership chain Landmark Cars got subscribed 39 per cent on the day two of offer on Wednesday. The IPO received bids for 31,33,102 shares against 80,41,805 shares on offer, as per data available with the NSE. The category meant for non-institutional investors received 84 per cent subscription, while Retail Individual Investors (RIIs) portion was subscribed 36 per cent and Qualified Institutional Buyers (QIBs) 9 per cent. The IPO has a fresh issue of up to Rs 150 crore and an offer for sale of up to Rs 402 crore aggregating up to Rs 552 crore. Its price range is at Rs 481-506 a share. Proceeds from fresh issuance will be utilised for payment of debt and general corporate purposes. TPG-backed Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. Shares of the firm will be listed on the BSE and NSE. Axis Capital and ICICI Securities are the manage

With over 100 profitable startups India poised to see IPOs in next 5 yrs

While the stock performances of tech IPOs, compared to other consumer companies, witness a steeper crash, India is poised to see more than 100 large-scale profitable/path-to-profitability startups