Page 8 - Ipos

Paytm, Nykaa among tech stocks under watch as lock-in period ends

Lock-ups end in November for four consumer-focused tech stocks, which have all slumped in the past month

BankBazaar to turn profitable in FY23; to go for IPO by next calendar: CEO

BankBazaar.com, which eyes to become the most profitable co-branded credit card platform, expects to turn profitable this fiscal and plans to file for an IPO by the end of next year, founder and CEO Adhil Shetty said. The company which started off as a loan comparing platform in 2008 is now majorly into co-branded credit card space, issuing two such cards in association with Yes Bank and RBL Bank. In the second quarter of FY23, the company registered 85 per cent year-on-year growth in its top line, clocking a revenue of Rs 170 crore. Company's credit card sales were up by 115 per cent in Q2. "We are happy that we are growing profitably and we have delivered 85 per cent year-on-year top line growth in Q2FY23. We had annualised revenue of Rs 170 crore (up by 85 per cent from a year ago) in Q2 and in August and September, both the months, we were EBITDA positive. "So we are projecting that whatever we have delivered in Q2, that will continue and that's the kind of growth we would like

Another busy week for mkt; 4 firms set to launch IPOs to raise Rs 5,000 cr

The primary market continues to be a busy one with four firms, including Archean Chemical Industries and Five Star Business Finance, are set to float their IPOs next week to collectively raise about Rs 5,000 crore. The other two firms whose initial public offerings (IPOs) are ready to open are -- Kaynes Technology India and Inox Green Energy Services. This came after four companies launched their initial share-sales last week. Of these, two IPOs -- maker of snacks and sweets Bikaji Foods International and Global Health Ltd which operates hospitals under the Medanta brand -- are currently underway. The IPOs of Archean Chemical and Five Star Business will be open for public subscription on November 9 and close on November 11, while that of Kaynes Technology and Inox Green are set to kick off on November 10 and November 11 respectively, as per the red herring prospectus (RHP). So far in 2022, as many as 26 companies have floated their IPOs to raise over Rs 48,000 crore. In 2021, 63 IP

Fusion microfinance subscribed 3x on Day-2 on strong institutional support

Medanta Hospitals IPO subscribed 36% on day-2, Bikaji Foods by 1.5 times

Kaynes Technology IPO set to open on Nov 10; fresh issue size at Rs 530 cr

The initial share-sale of Kaynes Technology India Limited (KTIL), an IoT solutions-enabled integrated electronics manufacturing company, will kick off for public subscription on November 10. The Initial Public Offering (IPO) will conclude on November 14 and the bidding for anchor investors will open on November 9, according to the Red Herring Prospectus (RHP). The company has cut fresh issue size to Rs 530 crore from Rs 650 crore planned earlier. Besides, there would be an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder. The OFS comprises sale of 20.84 lakh equity shares by promoter Ramesh Kunhikannan and 35 lakh equity shares by existing shareholder Freny Firoze Irani. Proceeds from the fresh issue will be used to repay debt, funding capital expenditure for its manufacturing facilities at Mysore and Manesar and funding working capital requirements. Also, the company plans to invest in its arm Kaynes Electronics Manufacturing Pvt Ltd

Fusion Micro Finance IPO subscribed 29% on Day 2 of offer: NSE data

The initial public offering of Fusion Micro Finance was subscribed 29 per cent on the second day of subscription on Thursday. The IPO received bids for 61,45,560 shares against 2,13,75,525 shares on offer, according to NSE data. The category meant for non-institutional investors was subscribed 61 per cent and Retail Individual Investors (RIIs) part attracted 31 per cent subscription. The IPO has a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares. Price range for the offer is at Rs 350-368 a share. On Tuesday, Fusion Micro Finance said it has raised a little over Rs 331 crore from anchor investors. The company is expected to raise Rs 1,104 crore at the upper end of the price band. Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm. IIFL Securities, ICICI Securities, CLSA India and JM Financial are the mangers to the offer.

ESAF SFB refiling draft papers for IPO, will finish process by Dec

Issue size to smaller than earlier plan of Rs 998 crore, says company's CEO

Fusion Micro Finance IPO receives 12% subscription on Day 1 of offer

The initial public offering of Fusion Micro Finance was subscribed 12 per cent on the first day of subscription on Wednesday. The IPO received bids for 26,04,560 shares against 2,13,75,525 shares on offer, according to an update on the NSE. The non-institutional investors category received 23 per cent subscription and Retail Individual Investors (RIIs) portion was subscribed 14 per cent. The Initial Public Offering (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares. The offer has a price range of Rs 350-368 a share. Fusion Micro Finance on Tuesday said it has raised a little over Rs 331 crore from anchor investors. The company is expected to raise Rs 1,104 crore at the upper end of the price band. Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm. IIFL Securities, ICICI Securities, CLSA India and JM Financial are the managers to the offer.

IPO watch: DCX issue subscribed nearly 70 times on strong QIB interest

Price band set at Rs 197-207; No institutional takers for Fusion microfinance on opening day

FirstMeridian Business Services gets Sebi's nod to float Rs 800-cr IPO

Staffing firm FirstMeridian Business Services Ltd has received capital markets regulator Sebi's go ahead to raise up to Rs 800 crore through an initial public offering (IPO). The IPO will include a fresh issue of equity shares worth up to Rs 50 crore and an Offer for Sale (OFS) worth up to Rs 750 crore by promoters and existing shareholders, according to the draft red herring prospectus (DRHP). As a part of the OFS, promoter Manpower Solutions Limited will sell shares worth Rs 665 crore while existing shareholders New Lane Trading LLP and Seedthree Trading LLP would sell shares worth Rs 45 crore and Rs 40 crore, respectively. The company, which filed preliminary IPO papers with Sebi in May, obtained its observation letter on October 18, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, obtaining an observation letter means its go ahead to float the IPO. The company, which counts Adani Ports and Special Economic Zone, Dell ...

DCX Systems IPO receives 8.8 times subscription on second day of offer

The company has priced its IPO between Rs 197 to 207 per share

DCX Systems IPO fully subscribed on Day 1; receives 2.11 times subscription

The Initial Public Offering (IPO) of DCX Systems, manufacturer of cables and wire harness assemblies, received 2.11 times subscription on the first day of offer on Monday. The IPO received bids for 3,05,65,584 shares against 1,45,11,146 shares on offer, according to NSE data. The category meant for Retail Individual Investors (RIIs) received 8.70 times subscription, while the portion for non-institutional investors got subscribed 2.16 times. Qualified Institutional Buyers (QIBs) quota received 3 per cent subscription. Fresh issue aggregating up to Rs 400 crore and an offer for sale of up to Rs 100 crore. The price range for the offer is at Rs 197-207 a share. On Friday, DCX Systems said it has raised Rs 225 crore from anchor investors. The company proposes to utilise the net proceeds from the fresh issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure and general corpora

Street Signs: Litmus test for IPO mkt, WhatsApp is Sebi's bogey, and more

This week, four companies are looking to raise more than Rs 4,100 crore via IPOs

Four cos set to go public next week; seek to raise over Rs 4,500 cr via IPO

The primary market is heading for a busy time, with four firms, including Global Health Ltd, which operates hospitals under the Medanta brand, and micro finance lender Fusion Micro Finance Ltd, lining up their IPOs next week. The other two companies whose IPOs are ready to open are DCX Systems, a manufacturer of cables and wire harness assemblies, and Bikaji Foods International. Together, these four companies are expected to fetch over Rs 4,500 crore through the IPOs, according to merchant banking sources. Apart from these, Uniparts India and Five Star Business Finance are expected to come out with their respective IPO in November, they added. The initial share sale of DCX Systems will open for public subscription on October 31 and conclude on November 2, while that of Fusion Micro Finance will be open during November 2-4. The IPOs of Global Health and Bikaji Foods will open for subscription on November 3 and close on November 7. In 2022 so far, as many as 22 companies have float

Boat joins PharmEasy, Droom to shelve listing plans amid valuation concerns

Rising Sebi scrutiny, poor investor response during roadshows seen as reasons for withdrawal by companies

Busiest week for IPOs this year with four offers set to hit market

The last time four IPOs had hit market was in Dec 2021; latest rush notwithstanding, year 2022 has been lukewarm for IPOs with sustained FPI outflows, spike in volatility, correction in broader mkts

Fusion Micro Finance's IPO opens Nov 2, price band Rs 350-368 a share

IPO consists of fresh equity of Rs 600 cr, OFS of 13.69 million shares

Fusion Microfinance sets IPO price band at Rs 350-368 per share

Fusion Microfinance on Friday said it has fixed a price band of Rs 350-368 a share for its Rs 1,104 crore initial public offering (IPO). The initial share sale will open for public subscription on November 2 and conclude on November 4. The bidding for anchor investors will open on November 1, according to the company. The IPO comprises fresh issuance of equity shares worth Rs 600 crore and an offer of sale of 1,36,95,466 equity shares by promoters and existing shareholders. Those selling shares in the OFS are -- Devesh Sachdev, Mini Sachdev, Honey Rose Investment Ltd, Creation Investments Fusion, LLC, Oikocredit Ecumenical Development Co-operative Society UA and Global Financial Inclusion Fund. The company is expected to raise Rs 1,104 crore at the upper end of the price band. Net proceeds from the fresh issue will be used to augment the capital base of the microfinance firm. The New Delhi-headquartered microfinance company provides financial services to underserved women across

TMS Ep290: CCI fines Google, Delhi air pollution, markets, 'dirty' bomb

Why does Google find itself in CCI's crosshairs? Why was this Diwali in Delhi the cleanest in years? Will the primary market suck out secondary market liquidity? What is a 'dirty' bomb? Answers here

Nykaa and Policy Bazaar slide as one-year lock-in period nears end

Selling pressure is seen whenever the lock-in period meant for IPO anchor investors ends, particularly in companies backed by private equity investors