IPO Financial News

Ola Electric today surged 11% to its fresh high of Rs 101.29 on BSE on the second day after its listing on the stock exchanges. Ola Electric was listed on Friday, August 9 disappointing investors as it got listed at par with the issue price of Rs 76. However, later during the day, the stock surged 20% to hit an upper circuit high of Rs 91.20 on NSE.

Fabricio Bloisi, the newly appointed CEO of Dutch technology investment firm Prosus and its parent Naspers, said he will continue to back early-to-late stage companies in India despite the $500 million write-off incurred due to the collapse of its once high-flying portfolio firm, Byju’s. He added that the valuation reset in the technology world is typical of the funding cycles for the sector and doesn't deter long-term investors from taking bets on India. Prosus doesn’t “live by cycles,” he said in an interview on his first India visit since taking over the chief executive role from interim CEO Ervin Tu. “I founded a startup 20 years ago… I don't get nervous about valuations… it’s part of life,” Bloisi told ET. “In 2001, 2008, everyone thought it was the worst time… Prosus is not a company that lives by these waves,” he said.

autonomous driving startup WeRide said on Friday it was seeking a valuation of as much as $5.02 billion in its initial public offering in the United States. The IPO announcement comes at a time when the Biden administration is expected to propose barring Chinese software in autonomous and connected vehicles in the United States in the coming weeks. WeRide is aiming to raise as much as $119.4 million by offering 6.45 million American depositary shares at a price range of $15.50 and $18.50 per share.

Ola Electric Mobility on Friday announced that it will be holding its first board meeting after the listing on the exchanges, scheduled for August 14, 2024. “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that a meeting of the Board of Directors of Ola Electric Mobility Limited (“the Company”) is scheduled to be held on Wednesday, August 14, 2024, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter ended June 30, 2024,” the company said in a filing to the exchanges.

Ola Electric Mobility listed at ₹76-the price at which the shares were sold in the recent initial public offering-on the BSE on Friday. Subsequently, the stock soared 20% to close at ₹91.2. At close on Friday, the two-wheeler electric vehicle maker had a market capitalisation of ₹40,218 crore. Ola Electric said in an exchange filing it will present its June quarter earnings on August 14. The EV maker's ₹6,145.56crore initial public offering (IPO) was the largest in 2024 so far. It was priced between ₹72 and ₹76 a share. The IPO was subscribed 4.27 times.

Kirin Holdings Co. wants to overtake entrenched global brands by building a $70 million beer factory and raising fresh funds ahead of a public listing in 2026. B9 Beverages Ltd is building a new brewing facility in the north Indian state of Uttar Pradesh, which, once completed, will become India’s biggest beer factory and expand production, founder and Chief Executive Officer Ankur Jain said in an interview. The company currently leases six brewing units and sells an equivalent of 8 million cases of beer a year. The New Delhi-based company has also appointed investment bank Morgan Stanley to lead another round of fundraising ahead of the IPO.

commercial real estate investment platform Property Share has received the Small and Medium Real Estate Investment Trust (SM REIT) license from the Securities and Exchange Board of India (SEBI) under the newly notified SM REIT regulations. The fractional ownership platform (FOP) has received the capital market regulator’s approval under the name of Property Share Investment Trust (PSIT) and has become the first entity to secure the same. Property Share will become the investment manager to PSIT. “Any regulated product comes with significant benefits for investors like high-net-worth requirements for the investment manager, compliance and reporting standards, transparency, investor protection mechanisms, and marketing restrictions. We look forward to continue working closely with SEBI in launching the IPO of the first SM REIT scheme in the weeks to come,” said Kunal Moktan, co-founder of Property Share

₹76 apiece on the NSE as against its issue price of ₹76 per share.On BSE, Ola Electric shares were listed with a discount of 0.01% at ₹75.99 apiece.Ola Electric Share Price Live: On the financial front, Ola Electric Mobility’s revenue grew from ₹456.2 crore to ₹5,243.2 crore between FY22 and FY24, while net loss widened from ₹784.14 crore to ₹1,584.4 crore during the same period. Ola Electric Mobility Ltd., a pioneer in the Indian EV space, is set to test investor appetite with its upcoming IPO.

logistics firm Delhivery’s chief executive Sahil Barua says the economics of deliveries in 10-15 minutes may not be sustainable for categories beyond groceries and fast-moving consumer goods. In an interview with ET’s Pranav Mukul and Samidha Sharma, he says the timelines will start increasing as the cost of quick deliveries becomes apparent. Delhivery, which swung back into a profit for the April-June quarter, is launching a network of shared dark stores for brands and ecommerce players to deliver in 2-4 hours, but will steer clear of instant deliveries, says Barua, who is also an independent director at IPO-bound food and grocery delivery firm Swiggy. Edited excerpts: Revenue growth has been slow for Delhivery over the past year. Is there pressure on your top line? Our express parcel business, which is the ecommerce-linked segment…is reflective of market conditions. Our volume growth could have been slightly higher but last year, Meesho launched Valmo (its logistics vertical) and overall volumes for third-party players have been constrained a little bit. We’re relatively less affected given that we don’t have too much dependence on Meesho, but overall volumes available on the third-party side have come down. Plus, this is the period where we have commercial renegotiations with a lot of our customers. So, until that’s done, the volume uplift takes a little bit of time.

As of 12:30 pm, the retail investor category booked strong demand, with subscriptions reaching 72.72 times. The non-institutional investor (NII) category was subscribed nearly 88 times, while the qualified institutional buyers had booked the issue by 1.7 times

In weighing up its potential home for a Parameta Solutions IPO, the FTSE 250 company explained in its half-year results that the need for better liquidity could be a factor that could swing the decision.  «We are progressing strategic options in relation to Parameta Solutions, as previously announced. They include a potential offering, which might entail a listing in the United States, with the group maintaining a majority stake,» said Nicolas Breteau, group CEO of TP ICAP.  Superdry proposes delisting from London Stock Exchange as part of turnaround plan The leading over-the-count...

SME IPO of Aesthetik Engineers has opened for subscription today and will close on August 16. The company aims to raise about Rs 26.47 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) Aesthetik Engineers IPO size

As of 12 noon, the public issue was subscribed nearly 5 times. The retail investors’ category was oversubscribed 19.13 times. The non-institutional investors (NIIs) filled 5.42 times of the portion allotted to them, while merely 23,184 shares were bid by qualified institutional buyers out of the reserved 76,82,554 shares.

The minimum bid is for 90 shares, with additional bids in multiples of 90 shares thereafter.

FirstCry, was subscribed just 17% on the second day of the bidding process on Wednesday. As of 11:45 a.m., the issue attracted bids for merely 82,74,368 shares, or 0.17 times the issue size of 4,96,39,004 shares. The quota reserved for retail individual investors (RIIs) was subscribed 71%. The issue was subscribed 12% in the NII category. There were just 2,752 shares bid by the qualified institutional buyers, out of the 2,70,36,953 shares reserved for them.

Even as newspaper headlines celebrate equity mutual fund inflows surpassing ₹45,000 crore in June, with systematic investment plans (SIPs) exceeding ₹21,000 crore (growing 9x in the last 10 years), we should remain cognizant that like any true market, equities have two sides to the equation–demand and supply. 

The issue attracted bids for 53,64,11,850 shares out of the 46,51,59,451 shares offered. The quota reserved for retail individual investors (RIIs) was subscribed 3.10 times, while the non-institutional investor (NII) category was subscribed 1.28 times. The allocation for qualified institutional bidders was 40% booked.

food services group K Hospitality Corp plans to list the business on Indian stock exchanges with a Rs 2,500-3,000 crore initial public offering, said people aware of the development. The operator of restaurants and cafes, food courts, and airports stores with brands such as Copper Chimney, Bombay Brasserie, Cafeccino, and The Irish House has hired Kotak Mahindra Capital and ICICI Securities to manage the IPO process, they said.

₹440 to ₹465 per share. The ₹4,193.73 crore worth FirstCry IPO is a combination of fresh issue of 3.58 crore equity shares aggregating to ₹1,666.00 crore and an offer for sale (OFS) component of 5.44 crore shares totalling ₹2,527.73 crore.

₹6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility was completely subscribed on the second day of bidding on Monday.The initial share sale received bids for 49,43,85,840 shares, as against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the BSE data.While the quota for non-institutional investors was subscribed 1.11 times, the category for Retail Individual Investors (RIIs) received 2.87 times as many subscriptions. Qualified Institutional Buyers (QIBs) received a 40% subscription, and the employee portion was booked 8.98 times.