IPO Financial News

Hospitality startup Oyo has started work on filing its draft red herring prospectus (DRHP) by the first quarter of the new financial year, sources said, marking its third attempt to go public. The impending initial public offering (IPO) is linked to ongoing shareholding restructuring undertaken by founder Ritesh Agarwal.

Subscribe to enjoy similar stories. MUMBAI : Two major investors in business-to-business (B2B) marketplace OfBusiness, Alpha Wave Global and Z47 Partners (formerly Matrix Partners India), are set to make partial exits worth $100 million in the next six to nine months, as the company prepares for its public listing later this year, according to co-founder and CEO Asish Mohapatra. The shares will be sold to high-net-worth individuals (HNIs) and family offices, Mohapatra told Mint, without disclosing details about the buyers.

capital markets regulator Sebi seeking its approval to float an initial public offering (IPO). The IPO is entirely an Offer-for-Sale (OFS) of up to 5.33 crore equity shares by promoter Nitesh Gupta, according to the draft red herring prospectus (DRHP). At present, promoters hold 100 per cent stake in the company.

Nifty closed at 23,203.20, down by 108.60 points, or 0.47%.

Subscribe to enjoy similar stories. After a year of record fundraising through initial public offerings (IPO), merchant bankers are expecting domestic IPOs to gather more steam in 2025, with increasing funding demand from tier-II companies. “At this point of time, our estimates suggest around $35 billion (worth of) IPOs (planned) in the current calendar year," Kaushal Shah, managing director and head of equity capital markets at Kotak Mahindra Capital Co.

The company aims to raise Rs 40 crore entirely through a fresh issue of 31.25 lakh shares, and its stock will get listed on the NSE SME platform on January 22.

In the IPO, about 50% of the offer is set aside for qualified institutional buyers (QIB), 35% for retail investors and the remaining 15% for non-institutional investors.

NSE SME platform later today. If the GMP trends are taken into account, the stock is likely to see a healthy listing. Currently, Sat Kartar Shopping GMP is around Rs 40 and compared with the IPO price of Rs 81, this is a premium of 49%.

Capital Infra Trust InvIT, which floated an IPO and received subscription of just over 2 times, will debut on the exchanges on Friday. Ahead of the listing, the company's shares have no GMP in the grey market. This is because InvIT units typically are not actively traded in the grey market like any IPO shares of the companies. InvITs are typically structured as investment vehicles focused on infrastructure assets like roads, transmission lines, or renewable energy projects.

Embassy Group, which runs a real-estate investment trust (REIT), plans to raise Rs 1,600 crore of fresh debt through zero coupon bonds to fund new projects, refinance existing debt, and acquire a 5% stake in WeWork India from WeWork Global, sources close to the development told ET.

Shares of One97 Communications, parent company of mobile payment application Paytm, climbed as much as 8% on Thursday to Rs 926.95 on the BSE. The rally in the stock price followed brokerage firm Emkay Global upgrading the stock to 'buy' from its earlier rating of 'add', at a target price of Rs 1,050, which implies a potential upside of over 13% from the stock’s current levels. The brokerage increased its target price on Paytm by 40% to Rs 1,050 from Rs 750 earlier. However, this revised target price remains well below Paytm's recent peak of Rs 1,062.95 reached on December 17 last year. Despite a recent decline of nearly 20% from those levels, Emkay sees the current valuation as attractive for investors.

₹199.45 crore, which will be available for trading on both the BSE and NSE platforms. On January 15, just a day prior to the IPO opening, the company secured ₹59.83 crore from six institutional investors through its anchor book.

Klarna has agreed a major new distribution partnership with fellow fintech unicorn Stripe, in a bid to expand reach and add more merchants in the lead-up to its upcoming listing in the U.S.

Barflex Polyfilms was fully subscribed on Tuesday, the third day of bidding with an overall subscription of 6.11 times as of 11:40 AM. The company aims to raise Rs 39 crore through the SME IPO, with the shares set to list on the NSE SME platform. The retail portion of the issue was subscribed by 9.58 times, while the issue was subscribed 6.16 times in the non-institutional investors category on the third day of bidding. Meanwhile, the qualified institutional buyers had not made any bids yet.

ICICI Prudential Mutual Fund said it is «more negative» on small-cap and mid-cap stocks even after the declines. «We hold on to our view that small-caps and mid-caps are more risky and are overvalued compared to large- caps whereas large-caps are in neutral zone as per our framework,» said S Naren, executive director & CIO, ICICI Prudential AMC. Naren said large-caps are not cheap, but they are not overvalued either. He added that exuberance in equities among local investors exists.

IPO-bound new-age companies are beefing up their top decks by hiring seasoned professionals in critical leadership roles, to navigate them through the complexities to list and operate as publicly traded entities.

It was a tale of two very different stories for Canadian capital markets in 2024, with activity in the debt markets reaching record highs amidst a continued decline in the equity space.

capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 320 crore by the company, and an offer for sale (OFS) of up to 1 crore equity shares by promoters, according to the Draft Red Herring Prospectus (DRHP) on Saturday. The company proposes to utilise the net proceeds towards funding capital expenditure requirements for setting up new projects in subsidiary ALCU, payment of debt, and general corporate purposes.

Elara Capital on Monday said it has initiated coverage on the hypermarket chain Vishal Mega Mart with a ‘buy’ rating at a target price of Rs 140 per share, which implies a potential upside of over 35% from the stock’s current levels. The brokerage has cited the company's strong balance sheet, efficient operations, and significant growth potential in India's expanding retail market. On Monday, Vishal Mega Mart shares were trading 5% lower at Rs 103.05 on the BSE. The company, which operates supermarket chains across 30 states and Union Territories in India, has shown strong momentum since its listing on December 18. The company debuted at Rs 110 on BSE, delivering an immediate 41% premium to IPO investors, while on NSE, the shares opened at Rs 104, representing a 33.3% premium.

NCLT) has approved the merger of Kiranakart Technologies, which operates quick commerce platform Zepto, with its Singaporean affiliate entity Kiranakart Pte Ltd—a move that will help accelerate its initial public offering (IPO) plans in India this year. Zepto’s domicile flip to India will formally complete within the next 30 days, a person aware of the matter said, adding that this was one of the fastest approvals of its kind from the tribunal. “The scheme appears to be fair and reasonable and (it) is not in violation of any provisions of law and is not contrary to public policy,” the Mumbai bench of NCLT observed in its January 9 order.

Ather Energy is set to value itself at as much as $2.4 billion in its upcoming initial public offering (IPO), people briefed on the matter said. That’s a premium of more than 80% over the last funding round in August, when it turned unicorn, they said. Ather is expected to file its updated draft red herring prospectus (DRHP) later this month or the first week of February after sending final clarifications to the Securities and Exchange Board of India (Sebi), said the people. In contrast to the series of new-age businesses’ listings last year that took a cautious approach to valuation, the likes of Ather and Bluestone are likely to price their offerings at a premium, reflecting their own plans as well as the competitive landscape.