IPO Financial News

Mint, a spokesperson for Aegis Logistics, said, “Aegis Vopak Terminals Ltd (AVTL) is exploring options to fund future growth for AVTL. These options may include, among others, a potential fund raise by way of public issue, preferential issue, or a combination thereof, of the equity shares and debt for the JV company and as may be decided by the AVTL board in absolute discretion and permitted under applicable laws and regulations." The spokesperson added that the company has not yet made a final decision regarding the IPO, and it is still exploring its future funding options.

Ola Electric is expected to launch its public offering for subscription in the next few weeks at a discounted valuation of around $4 billion, a decrease of about a fourth from its last private funding round, multiple people aware of the details said. In September 2023, Ola Electric had snagged a value of $5.4 billion when it raised $140 million in a round led by Singapore's Temasek. The proposed listing will be among the largest new-economy IPOs this year, signalling a revival of public market debuts by technology-first companies. Ecommerce firm FirstCry is gearing up to launch its IPO soon while Swiggy has confidentially filed its draft papers with the markets regulator.

IPO) for its Indian unit, which owns spices and condiments brands MTR and Eastern. «We initiated a process to consider structural opportunities for Orkla India, including conducting an IPO readiness study. The results of the study are encouraging. And we will now proceed with an evaluation of accessing the capital markets in India. Any conclusion should not be expected until sometime 2025,» Nils Selte, president and CEO at Orkla, told investors. «There are a lot of things to do before we are good to go.»

The IPO, which is entirely a fresh equity issue of 29.2 lakh shares, received bids for 65 crore shares as against just 20.96 lakh shares on offer.

«The team has worked pretty hard on ensuring that Q1 itself will give good numbers because post IPO the investment community is very enthusiastic and curious about our performance, so we are also equally responsible and sensible to responding to them with good numbers and qualitative governance,» says Pradip Kumar Das, IREDA. Let us talk about the numbers then first. Strong quarter so NII has surely seen a very strong growth. Your NIMs also are seeing a significant improvement, also up on a sequential basis. Would you say that we can expect further upward growth now even going forward in terms both NII and NIMs going forward? Pradip Kumar Das: Definitely, our first objective is to sustain what growth we have achieved and next would be to further improvise on that. Two things we focus always. One is the result. We focus on fundamentals and governance. If you see almost since last three to four years, our corporate governance standards quality has been improving gradually and consistently. And today, it has become a benchmark.

The IPO is a combination of a fresh issue of 4.18 crore shares and an Offer For Sale (OFS) of 1.19 crore shares by selling shareholders.

Raymond Lifestyle (RLL), the demerged entity of the ₹9,286-crore conglomerate Raymond, has appointed some top executives of India Inc as independent directors ahead of a possible listing next month. Vineet Nayar, former chief executive of HCL Technologies, GC Chaturvedi, former chairman of ICICI, Anisha Motwani, board member of Abbott, and Raymond director Dinesh Lal have been appointed as independent directors. The appointments were made earlier this month, people aware of the development told ET.

Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around USD 150 million, sources aware of the development said. Softbank invested about USD 1.5 billion in One97 Communications — the owner of Paytm brand — in tranches in 2017. «Softbank has exited Paytm at a loss of 10-12 per cent. The total loss is around USD 150 million,» one of the sources said.

equity market through IPOs & FPOs during the first half of 2024, more than double the amount raised in the same period last year. The Jan-June total is the highest ever in terms of proceeds, with the number of issuances also rising 64%. The surge has been driven by follow-on public offers (FPOs) this year — making up 85% of the total proceeds this year, LSEG’s India Investment Banking Review said.

Stock Exchange (NSE) on Thursday said it will impose a cap of 90% on the issue price of SME IPOs during the pre-open session on listing day. The move is aimed to bring stability to the opening price discovery of these stocks. As of now, there is no cap for SME IPOs on the listing day.

The public offer is being made through the book-building process, wherein about 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Emcure Pharmaceuticals jumped 4% to Rs 1,384 after a strong debut on the exchanges on Wednesday. The stock is listed at Rs 1325 on NSE and BSE over the IPO price of Rs 1008 apiece, a premium of Rs 317 or 31.4% as against the issue price. The enthusiastic listing was kind of expected after it received an overwhelming response, as the issue was subscribed to a whopping nearly 68 times.

Genesis Digital Assets is reportedly exploring an initial public offering in the US amid the crypto industry’s resurgence.

capital markets saved the day for Indian investment bankers as they took home hefty bonuses and payouts despite a relatively soft M&A business, company officials and industry sources said, pointing to the IPO frenzy as equity indices surged to records. Bonuses were 150-200% high for top performers in some of the top-rung local I-banks such as Kotak, JM Financial, Axis Capital, Avendus and Veda, among others, sources told ET. A string of IPOs and other capital market offerings helped deal-makers earn an average 10% increase, while a few top performers took home 20-25% more, as companies tried to retain top talent, said industry officials. On the lower end, average bonuses were in 80-100% range, according to estimates.

Allied Blenders and Distillers listed on the exchanges on Tuesday with a premium of 14%. The stock debuted at Rs 320 on NSE as against an offer price of Rs 281. The IPO, which was a combination of fresh equity sale of Rs 1,000 crore and an offer for sale (OFS) of 1.77 crore shares, was subscribed over 20 times at close.

Shein said it would invest 250 million euros ($271 million) over five years in the UK and Europe as the company battles criticism of its model based around flying cheap clothes and accessories from factories in China direct to shoppers worldwide. Shein, which is preparing for a possible London listing, already sources some clothes from factories in Turkey, although the vast majority of its products are made by around 5,400 suppliers mainly in Guangzhou, China.

HBO has released the teaser trailer for «Industry» Season 3. The upcoming season features Kit Harington as a green tech company leader aiming for a public offering.

Why Reliance’s investors opposed board roles for Saudi businessman and Khaitan While JFSL’s split led to 46% promoter shareholding, close to a simple majority of 51%, the same exercise may give RIL’s promoters a mere 33% stake in Jio Platforms. Jefferies offers them a solution — raise their stake in Jio after the listing to bring it closer to 51%, as they did with JFSL. But there’s a problem.

Mint spoke to lawyers and investment bankers who also alluded to the rise in MNCs evaluating such options. Besides South Korea’s Hyundai, which is preparing for a record ₹25,000 crore initial public offering, LG Electronics and Italy’s component maker Carraro are looking at similar moves, according to media reports.

The IPO is a mix of fresh issuance of Rs 550 crore and an offer for sale (OFS) of up to 2.16 crore equity shares by promoters and investor selling shareholders.

financial services major Capital Group, and asset management companies T Rowe Price, Fidelity and Vanguard have all acquired stakes in PB Fintech, which runs insurance marketplace Policybazaar and credit marketplace Paisabazaar, people in the know said. “Capital Group through various of its investment vehicles now owns around 10% in the company,” said a person with knowledge of the matter.