RR Kabel IPO Subscribed 1.39 Times on Second Day of Bidding
The Rs 1,964-crore initial public offering (IPO) of RR Kabel, backed by global private equity firm TPG, has been subscribed 1.39 times on the second day of bidding, September 14. This means that investors have bid for 1.39 times the number of shares on offer.
All types of investors showed good interest in the offer, with high net worth individuals (HNIs) bidding 2.1 times the allotted quota and qualified institutional buyers (QIBs) bidding 1.65 times the portion set aside for them. Retail investors bid for 95% of the reserved portion, which is 35% of the offer, and employees bid 1.52 times.
The consumer electrical goods manufacturer has reserved Rs 10.8 crore worth of shares for its employees, who will get those shares at a discount of Rs 98 per share to the final offer price.
The IPO comprises a fresh issue of shares worth Rs 180 crore and an offer-for-sale (OFS) of 1.72 crore shares amounting to Rs 1,784.01 crore at the upper price band. The price band for the offer is Rs 983-1,035 per share.
The Gujarat-based wire & cables and FMEG products maker will use the proceeds from the fresh issue to repay debts and for general corporate purposes.
The IPO has already been subscribed by anchor investors, who have committed to invest Rs 585.62 crore. These investors include Abu Dhabi Investment Authority, Government Pension Fund Global, HSBC Global, Carmignac Portfolio, TIMF Holdings, Morgan Stanley, HDFC Mutual Fund, ICICI Prudential, Axis Mutual Fund, Kotak Mutual Fund, SBI Life Insurance, and HDFC Life Insurance.
The IPO closes on September 15.
- 22 Sep
Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.
- 22 Sep
Signature Global IPO Subscribed 11.88 Times on Final Day
The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.
- 22 Sep
Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding
Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.
- 22 Sep
Pharma company Valiant Laboratories to go public on September 27
Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.
- 21 Sep
Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.