Tag: IPO – News

The EMS IPO was oversubscribed 15 times on the second day of bidding. HNIs and retail investors were the most bullish on the company, bidding 29.71 times and 16.59 times the allotted quota respectively. QIBs have bought 67 percent shares of the reserved portion. The IPO will close on September 12.

Zaggle Prepaid Ocean Services, a FinTech-SaaS company, is set to launch its IPO on September 14. The price band is Rs 156-164 per share, with a total issue size of Rs 402.45 crore. The company will use the proceeds to acquire and retain customers, develop technology and products, repay debt, and for general corporate purposes.

Rishabh Instruments, a global energy efficiency solution company, is set to list on the stock exchanges on September 11. Experts expect the stock to list with at least a 12 percent premium over the issue price of Rs 441, citing strong revenues from export business. The company’s IPO was subscribed 31.65 times, with bids for

Ratnaveer Precision Engineering is expected to list on the stock exchanges on September 11 with a gain of at least 40% over its issue price of Rs 98 per share. The grey market premium for the stock is currently at 50%, indicating strong demand from investors. The company’s IPO was subscribed 93.99 times, with bids

Blue Chandra, the largest shareholder in Samhi Hotels, has reduced its stake in the company ahead of its IPO. The stake reduction was part of a private placement of 1,03,17,460 equity shares in Samhi Hotels for Rs 130 crore. The shares were sold at a price of Rs 126 per share. The IPO of Samhi Hotels is scheduled to open for subscription from September 14-18. The company is looking to raise Rs 1,370.1 crore through the IPO.

IREDA, a state-owned non-banking finance company, has filed a DRHP with Sebi to raise funds via an IPO. The IPO will comprise a fresh issue of 40.31 crore equity shares by the company and an offer-for-sale of 26.88 crore shares by the Government of India. The net proceeds from the fresh issue will be used to augment the capital base of IREDA to meet future capital requirements and onward lending. IREDA provides financial assistance for new and renewable energy (RE) projects and energy efficiency and conservation (EEC) projects.

EMS Limited, a leading provider of sewerage and water solutions, expects its revenue growth to normalize to about 25% in the current financial year 2023-24 (FY24), from 50% in the previous fiscal year (FY23). The company's IPO was fully subscribed on the first day of bidding, which is a positive sign for the company's future prospects.

Kahan Packaging's IPO was subscribed 690 times, setting a new record for SME IPOs in India. The company will use the proceeds to expand its manufacturing capacity, repay debt, and fund working capital requirements. The strong subscription is a positive indicator of the growth prospects of the SME sector in India. Here are the key factors that contributed to the high subscription: Strong track record of growth and profitability Growing demand for packaging solutions in India Attractive valuation Strong interest from retail investors The successful listing of Kahan Packaging is a positive development for the SME sector. It will encourage other small and medium-sized businesses to go public and raise capital to fund their growth plans.