IPO Financial News

IPO Subscription Status: The initial public offering (IPO) of RR Kabel has witnessed lukewarm interest from investors so far. RR Kabel IPO opened for subscription on September 13 and will close on Friday, September 15. The company has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

IPO listing date has been scheduled for Monday, September 18 on NSE and BSE. Jupiter Lifeline Hospital IPO opened for subscription on Wednesday, September 6, and closed on Friday, September 8. Jupiter Lifeline Hospital IPO received overwhelming response from non-institutional investors (NIIS) and Qualified institutional buyers (QIBs) on day 3.

₹2,800 crore IPO by the end of this month. As per reports, the JSW Infrastructure IPO will open on September 25 and close on September 27. Also Read: JSW Infra gets Sebi nod for its ₹2,800 crore IPO The ports business of the $23 billion JSW Group had filed draft papers for its IPO in May, aimed at retiring debt and fund its capacity expansion plans.

Ahead of the issue opening, Zaggle garnered Rs 253.52 crore from 23 anchor investors at the upper price band of Rs 164 per equity share. Analysts remain mixed on the IPO, with few recommending to avoid it while others advising to bid for a short-to-medium-term view. «If we attribute FY23 earnings to the post-IPO fully diluted paid-up equity capital of the company, the asking price is at a P/E of 66.7 and we believe it to be priced aggressively. We, therefore, recommend an 'Avoid' rating for the issue,» StoxBox said. The price band for the IPO is fixed at Rs 156-164 per share and investors can bid for a minimum of 90 shares in one lot and in multiples thereafter. At the upper price band of Rs 164, Zaggle Prepaid is available at an adjusted P/E of 54.3x (FY23), which appears to be aggressively priced, said Geojit Financial Services. However, several factors contribute to its appeal, including a diverse client base spanning various industries, consistent revenue growth over the years, the company's expansion strategies, a diversified revenue model, and the flourishing digital payments sector, it added.

Arm's blockbuster initial public offering (IPO) was oversubscribed by 12 times, and could have been priced at $52 per share, above the indicated range of $47 to $51, people familiar with the matter said. But the bankers, who had huddled at the offices of SoftBank's financial advisor Raine Group, argued it was better to leave the additional $1 per share -- equivalent to about $1 billion in value -- on the table. They said doing so could yield a bigger pop when the stock debuts on Nasdaq on Thursday, projecting it could trade between $57 and $62 based on feedback from investors.

SoftBank Group CEO Masayoshi Son was in San Francisco on Wednesday when he joined a call with his bankers in New York to make a final decision about his company's most valuable asset: chip designer Arm Holdings. Arm's blockbuster initial public offering (IPO) was oversubscribed by 12 times, and could have been priced at $52 per share, above the indicated range of $47 to $51, people familiar with the matter said. But the bankers, who had huddled at the offices of SoftBank's financial advisor Raine Group, argued it was better to leave the additional $1 per share — equivalent to about $1 billion in value — on the table. They said doing so could yield a bigger pop when the stock debuts on Nasdaq on Thursday, projecting it could trade between $57 and $62 based on feedback from investors. Son accepted the banks' recommendation, valuing Arm at $54.5 billion on a fully diluted basis. The behind-the-scenes details on the IPO pricing decision are based on interviews with three people familiar with the discussions.

Ahead of the issue opening, the company raised Rs 616.5 crore from anchor investors. Analysts advised investors to avoid the IPO on profitability concerns and increased net borrowings. SAMHI Hotels is a prominent hotel ownership and asset management platform in India, with the third largest inventory of operational keys (owned and leased) in the country as of February 2023. The company acquires or builds primary hotels and thereafter renovates and rebrands the properties under its wings. All of its hotels are in the upper upscale and upscale, upper mid-scale and mid-scale hotel segments, typically operating under long-term management contracts with established and well-recognized global hotel operators. «The company's financial performance has been poor for the last three years, but it is making progress on cutting losses.

By Echo Wang and Anirban Sen

Samhi Hotels IPO: The initial public offering (IPO) of Samhi Hotels Limited has opened for subscription today and the book build issue will remain open for bidding till 18th September 2023. The company has fixed Samhi Hotels IPO price band at ₹119 to ₹126 per equity share and one lot of the publi coffer comprises 119 shares. The company aims to raise ₹1,370.10 crore from its public issue out of which ₹1,200 crore is aimed from issuance of fresh issues.

₹156 to ₹164 per equity share of face value of ₹1 each. Zaggle IPO garnered ₹253.52 crore from 23 anchor investors at the upper price band of ₹164 per equity share. Zaggle IPO has reserved not more than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 10% of the offer is reserved for Retail Investors.

Asian stocks rose on Thursday, as traders figured a small upside surprise for U.S. inflation was unlikely to push up interest rates and turned their focus to a European Central Bank meeting later in the session. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% in early trade.

chip designer Arm is targeting a valuation of more than $52 billion for its initial public offering (IPO) on the Nasdaq exchange on Thursday, according to a company press release. Arm, whose semiconductor design is integrated into the vast majority of smartphones worldwide, has priced its shares at $51, the firm announced Wednesday, ahead of the largest IPO New York has seen for almost two years. The company, which is a world leader in smartphone chip design and is owned by the Japanese tech investor SoftBank, has announced it will list on the tech-rich Nasdaq stock exchange under the «ARM» ticker. At $51 per share, Arm's IPO valuation is at the top end of its target range, underscoring the enthusiasm among investors amid an explosion of interest in artificial intelligence. Traders are looking at Arm's IPO as a barometer for other tech IPOs, which have stalled in recent years as the Covid-19 pandemic, the war in Ukraine and higher interest rates lowered the appetite for riskier investments. If Arm's IPO does well, other companies may consider going public to raise funds, fueling fresh deal-making in the months ahead. A number of tech giants including Apple, Google and Nvidia said recently they would be interested in purchasing Arm shares at the share price it has listed. The listing of around 10 percent of the company is expected to raise roughly $5 billion for its owner, SoftBank. SoftBank, which has had mixed success with its investments in recent years, will retain ownership over the remaining 90 percent or so of the company's shares. Among its most high-profile recent failures was the dramatic collapse of the coworking company WeWork amid concerns over corporate governance. Once valued at $47 billion, WeWork is now

Indian startups got their first big push with global investors starting to chase companies like Flipkart, Ola and Oyo, as the world sensed a massive opportunity in the country’s market. This was on the back of a much-ballyhooed IPO of ecommerce behemoth Alibaba and investors in China wanting to get a beachhead in the next big market. Investors lined up, betting on tech startups, especially in the consumer internet sector, seeking to tap the young demographic of a country of over 1.2 billion people at the time. It was not only the financial investors but large strategic players like Amazon declared India as a big market, deploying billions of dollars, as the rush of capital began. This was when this newspaper instituted what’s become the most celebrated set of awards for the startup ecosystem — the Economic Times Startup Awards— with the idea to propel entrepreneurship in the country.

Arriving at a decision was difficult in the backdrop of a year which has been fraught with challenges for the venture capital industry as valuations and fundraising saw a major hit. Exits became scarce and the IPO market dried up.

By Divya Rajagopal

Cetera Holdings this week said it was spending $1.2 billion to acquire the nearly 3,100 tax focused financial advisors at Avantax Inc., a clear indication that the valuations for broker-dealers and registered investment advisors are still climbing and no one knows how high they will go.

Samhi Hotels IPO: Samhi Hotels has raised ₹616.50 crore from anchor investors a day ahead of its IPO subscription opening for bidding. The initial public offering (IPO) will open for subscription on Thursday, September 14 and close on Monday, September 18. The Goldman Sachs-backed company has fixed the price band at ₹119 to ₹126 per share.

NEW DELHI : JSW Infrastructure Ltd, the Sajjan-Jindal-led port business, has received the approval to launch its ₹2,800 crore initial public offering (IPO) and is likely to finalize the launch by the end of this month, a person close to the matter told Mint. The port business of the $23 billion group had earlier in the year filed draft papers for a ₹2,800 crore IPO with an aim to retire the debt and furthermore fund the capacity expansion plans of the company. The entire IPO consists of a fresh issue of equity shares and there will be no dilution of the promoter’s existing equity. As of 31 December 2022, the company’s debt stood at ₹2,875 crore.

₹ 253.52 crore ahead of company’s proposed IPO at the upper price band of ₹ 164 per equity share (including premium of ₹ 163 per equity shares) with face value of ₹ 1 per share. Out of the total allocation of 15,458,515 equity shares to the Anchor Investors, 3,780,630 Equity Shares (i.e. 24.46% of the total allocation to the Anchor Investors) were allocated to 3 domestic mutual funds through a total of 4 schemes.

IPO) of Sai Silks (Kalamandir) Ltd will open for public subscription on September 20 and close on September 22.

JSW Infrastructure, the ports division of JSW Group, is likely to commence public subscription by the end of this month, according to bankers. The company has filed its red herring prospectus with the Registrar of Companies. JSW Infrastructure's forthcoming public offering marks a significant milestone as the first public listing from the JSW Group in nearly 13 years.