Category: IPO

Sai Silks Kalamandir's IPO subscribed just 7% on the first day of bidding, with retail investors and high net-worth individuals showing decent support, but qualified institutional buyers (QIBs) being lukewarm. The company aims to raise Rs 1,201 crore through its public issue, comprising a fresh issue of Rs 600 crore and an offer-for-sale (OFS) of Rs 601 crore by the promoter group. The price band for the offer has been fixed at Rs 210-222 per share. The net fresh issue proceeds will be used mainly for setting up new stores, building warehouses and working capital requirements. The company has a network of 54 outlets in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.

Yatra Online's IPO subscribed 1.61 times on the final day of bidding, with retail investors providing decent support. However, QIBs and HNIs were less enthusiastic, possibly due to the aggressive pricing of the issue. Some brokerages remain positive on the company from a medium-to-long-term perspective, but investors should carefully consider the company's fundamentals, valuation, and risk factors before making an investment decision.

Pharma company Valiant Laboratories is launching its maiden public issue on September 27, 2023. The IPO will comprise only a fresh issue of 1.09 crore equity shares by the company and there will be no offer-for-sale portion in the issue. The net proceeds from the IPO will be used to set up a manufacturing facility for specialty chemicals in Bharuch, Gujarat and for general corporate purposes. The company recorded a profit of Rs 29 crore for the year ended March FY23, up by 5.5 percent from previous year, and the revenue from operations increased by 14.5 percent to Rs 333.9 crore during the same period. Valiant Laboratories' shares are expected to make their debut on the BSE and NSE on October 9, 2023.

Signature Global (India), the largest real estate development company in the Delhi NCR region in affordable and lower mid-segment housing, is launching its IPO on September 20, 2023. The company plans to raise Rs 730 crore through the IPO, which will be listed on both the NSE and BSE. Analysts are divided on the Signature Global IPO. Some analysts believe that the company is well-positioned in the affordable and lower mid-segment housing market, while others are concerned about the company's net loss, negative net worth, and dependence on the real estate market in the Delhi- NCR region.

EMS Limited, a water and wastewater management company, is expected to list strongly on September 21. The company's IPO was subscribed 75.28 times, driven by strong demand from qualified institutional buyers, high networth individuals, and retail investors. EMS has a proven track record of successful project execution and a strong order book. It also has a healthy financial position. Analysts are positive on the company and advise investors who are allotted shares to hold them from a medium to long term perspective. Professional investors should carefully consider the company's strong fundamentals and long-term growth outlook before making an investment decision.

The IPO of Signature Global India was subscribed 54% on Day 1, much better than the IPO of Sai Silks. Retail investors were aggressive on the debut, while qualified institutional investors bid for a smaller portion of the shares. The company plans to use the IPO proceeds to repay debt, make land acquisitions, and for general corporate purposes. It has sold 27,965 residential and commercial units since 2014, all within the Delhi NCR region. Its sales grew at a CAGR of 42.46% during FY21-FY23.

Digikore Studios, an Indian VFX company, is preparing to go global with an IPO on NSE EMERGE. Digikore plans to use the IPO proceeds to expand its operations in North America. Despite early setbacks, Digikore has emerged as a leading VFX company with over 400 employees. The company plans to expand its North American operations, but the bulk of the work will continue to be done from India. Digikore's success is a testament to the talent and creativity of Indian VFX artists.

RR Kabel IPO is likely to list with a 10-15% premium over the issue price of Rs 1,035 on September 20, 2023. However, investors should be aware of the subdued financials and the high OFS portion before investing. Overall, the outlook for the RR Kabel IPO listing is positive, but investors should carefully consider the risks and rewards involved before investing.

Zaggle's IPO subscribed 12.57 times, raising Rs 563.38 crore. The company will use the money for customer acquisition, product development, and debt repayment. It's a B2B2C fintech player with steady revenue and profitability growth. Shares to list on Sept 27.

RR Kabel, a consumer electrical products company, will be the first company to list its shares on the stock exchanges in two days after the IPO closes, instead of the three days mandated by Sebi. This is a result of the company preponing its listing date by four days and deciding to list shares on the bourses on September 20. The company's listing on the stock exchanges is expected to be keenly watched by investors, as it will be the first company to test the new T+2 listing timeline.