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Tag: IPO news

  • Sansera Engineering information IPO papers with Sebi

    Auto element maker Sansera Engineering Ltd has filed preliminary papers with capital markets regulator Sebi to lift funds by means of an preliminary share-sale.
    The preliminary public supply (IPO) is solely a proposal on the market (OFS) of 17,244,328 fairness shares by promoters and current shareholders, draft purple herring prospectus (DRHP) filed with Sebi confirmed.
    Those providing shares within the OFS are current buyers– Client Ebene, CVCIGP II Employees Ebene and promoters — S Sekhar Vasan, Unni Rajagopal Ok, F R Singhvi and D Devaraj.

    The firm mentioned it expects that itemizing of the fairness shares will improve its visibility and model picture and supply liquidity to shareholders. Also, the itemizing will present a public marketplace for the fairness shares within the nation.
    This is the corporate’s second try to go public. Earlier, Sansera Engineering had filed IPO papers with Sebi in August 2018 and had additionally acquired its clearance to drift the general public problem. However, it didn’t go forward with the launch.
    The Bengaluru-based agency is an engineering-led built-in producer of advanced and important precision engineered parts throughout automotive and non-automotive sectors.
    Within the automotive sector, the corporate manufacture and provide a variety of precision cast and machined parts and assemblies which can be vital for engine, transmission, braking, and different programs for the two-wheeler, passenger car, and business car verticals.

    In the non-automotive sector, Sansera Engineering manufactures and provides precision parts for the aerospace, off-road, agriculture and different segments, together with engineering and capital items.
    ICICI Securities, IIFL Securities and Nomura Financial Advisory and Securities (India) Private Limited have been appointed as service provider bankers to advise the corporate on the IPO.

  • Sona Comstar units worth band of Rs 285-291/share for Rs 5,550 crore-IPO

    Auto part maker Sona BLW Precision Forgings (Sona Comstar) on Wednesday fastened a worth band of Rs 285-291 a share for its Rs 5,550 crore preliminary public supply (IPO).
    The three-day IPO will open on June 14 and conclude on June 16. The bidding for anchor traders will open on June 11, in line with the corporate.
    The Rs 5,550-crore IPO includes contemporary subject of shares amounting to Rs 300 crore and a suggestion on the market (OFS) aggregating as much as Rs 5,250 crore by promoting shareholder Singapore VII Topco III Pte Ltd, an affiliate of the Blackstone Group Inc.
    Now, the dimensions of the general public subject has been lowered to Rs 5,550 crore from Rs 6,000 crore because it has been determined to offloaded Rs 5,250 crore shares via OFS in opposition to Rs 5,700 crore as deliberate earlier.

    The Blackstone-promoted firm intends to utilise the proceeds from the contemporary subject to repay/prepay a bit over Rs 241 crore of its borrowings apart from common company functions.
    A complete of 75 per cent of the problem has been reserved for certified institutional patrons, 15 per cent for non-institutional bidders and 10 per cent for retail traders.
    The firm is into designing, manufacturing and supplying extremely engineered important automotive methods and elements corresponding to differential assemblies, differential gears, typical and micro-hybrid starter motors, BSG methods, EV traction motors and motor management models.
    It provides elements to automotive authentic tools producers (OEMs) throughout the US, Europe, India and China, for each electrified and non-electrified powertrain segments and isn’t depending on a single product, automobile section, buyer or geography.
    The firm can be one of many two largest exporters of starter motors from the nation apart from being the biggest producer of differential gears for passenger automobiles, industrial automobiles and tractors in India.
    Some of its key OEM prospects embrace a world OEM of EVs, a North American passenger automobile and industrial automobiles maker, Ashok Leyland, Daimler, Escorts, Mahindra and Mahindra, Mahindra Electric, Maruti Suzuki, Renault Nissan, Volvo and Volvo Eicher.

    Sona Comstar, which filed preliminary IPO papers in February, obtained Sebi’s go forward in early May to drift the general public subject.
    Kotak Mahindra Capital Company, Credit Suisse Securities, JP Morgan India, JM Financial and Nomura Financial Advisory and Securities are the e book working lead managers of the problem.

  • Shyam Metalics units worth band at Rs 303-306 for Rs 909 crore-IPO

    Integrated steel producing firm Shyam Metalics and Energy on Tuesday mounted a worth band of Rs 303-306 a share for its Rs 909 crore-initial public provide (IPO).
    The three-day IPO will open on June 14 and shut on June 16 and the bidding for anchor buyers will open on June 11, the corporate mentioned in a press release.
    The IPO includes recent issuance of fairness shares price as much as Rs 657 crore and a proposal on the market (OFS) to the tune of Rs 252 crore by current shareholders.

    Now, the dimensions of the general public subject has been lowered to Rs 909 crore from Rs 1,107 crore because it has been determined to offloaded Rs 252 crore shares via OFS towards Rs 450 crore as deliberate earlier.
    Those taking part within the OFS are Subham Capital, Subham Buildwell, Kalpataru Housefin and Trading, Dorite Tracon, Narantak Dealcomm and Toplight Mercantiles.
    The firm intends to utilise the online proceeds from the recent subject for reimbursement or prepayment of Rs 470 crore of its debt and that of its subsidiary, Shyam SEL and Power; and for different common company functions.
    Shyam Metalics and Energy, which filed preliminary IPO papers with the capital markets regulator Securities and Exchange Board of India (Sebi) in February, obtained its go forward on May 11.
    The Kolkata-based lengthy metal merchandise and ferro alloy centered firm sells intermediate and closing merchandise throughout the metal worth chain catering to institutional and finish use clients via 42 distributors, brokers throughout 13 states and one union territory.
    It at present operates three manufacturing crops which can be situated at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.

    The firm had tried to faucet the capital markets previously too. It had filed draft papers for IPO with Sebi in 2018 and had even obtained clearance from the regulator too. However, the corporate deferred its plans to listing on the bourses.
    ICICI Securities, JM Financial, Axis Capital, IIFL Securities and SBI Capital Markets are the guide operating lead managers to the difficulty.

  • GoAir rebrands itself as ‘Go First’; information draft papers for Rs 3,600 crore-IPO

    Go Airlines, which has rebranded itself as ‘Go First’, has filed preliminary papers for an preliminary share sale value Rs 3,600 crore and the proceeds can be primarily used to repay dues amid the aviation trade dealing with robust headwinds because of the coronavirus pandemic.
    After taking to the skies 15 years in the past, the Wadia group-promoted price range provider — which has formidable enlargement plans — is seeking to mop up the quantity via issuance of contemporary fairness shares. It additionally has plans to lift as much as Rs 1,500 crore by the use of a pre-IPO placement.
    Once the shares get listed, Go Airlines (India) Ltd would be the third operational scheduled provider after SpiceJet and IndiGo to commerce on Indian bourses.

    In a launch on Friday, Go Airlines stated it has filed a draft crimson herring prospectus (DRHP) for an preliminary public provide (IPO) to lift as much as Rs 3,600 crore via issuance of contemporary fairness shares.
    “We expect competitive conditions in our industry to intensify further as new entrants emerge and as existing competitors seek to extend their operations and flight frequencies over routes that we operate,” as per the DRHP.
    It additionally famous that the aviation trade faces important enterprise challenges because of the COVID pandemic.
    In the monetary 12 months ended March 2020, the airline had a lack of Rs 1,270.74 crore whereas complete earnings stood at Rs 7,258.01 crore.
    “Our company expects to receive the benefits of listing of the equity shares, including to enhance our visibility and our brand image among our existing and potential customers and to create a public market for our equity shares in India,” the DRHP stated.
    From the web proceeds of the IPO, the airline plans to pay over Rs 2,015.81 crore in direction of prepayment or scheduled compensation of all or a portion of sure excellent borrowings”.
    An quantity of Rs 279.26 crore can be for “replacement of letter of credits, which are issued to certain aircraft lessors towards securing lease rental payments and future maintenance of aircraft, with cash deposit”, as per DRHP.
    Also, the airline will make compensation of dues of Rs 254.93 crore to Indian Oil Corporation for gas provided to it.
    “A further issue of equity shares, through a preferential offer or any other method as may be permitted in accordance with applicable law, aggregating up to Rs 15,000 million, which may be undertaken by our company… prior to the filing of the Red Herring Prospectus with the RoC (registrar of companies),” it famous.
    The Wadia group owns 73.33 per cent stake within the provider whereas the remaining shareholding is with different entities, together with Baymanco Investments. The latter holds 21.05 per cent stake.
    Others are Sea Wind Investment and Trading Company (3.76 per cent shareholding), Heera Holdings & Leasing, Nidhivan Investments & Trading Company and Sahara Investments — all of the 4 entities have 0.62 per cent stake every within the airline.
    As per the DRHP, there are a complete of 99 litigations in opposition to the corporate, together with 43 associated to actions by statutory or regulatory authorities.
    Global coordinators and e book operating lead managers to the difficulty are ICICI Securities, Citi and Morgan Stanley.
    The airline is now specializing in extremely low value provider (ULCC) mannequin.
    After asserting rebranding on Thursday, Go First CEO Kaushik Khona stated the airline has stayed resilient throughout the actually robust instances of the previous 15 months.
    “Even as the times continue to be extraordinary, Go First sees opportunities ahead. This rebranding reflects our confidence in the brighter tomorrow,” he had stated.
    The airline has positioned agency orders for supply of 144 Airbus A320 neo planes; and out of them, it has taken supply of 46 plane.

    As on January 31, 2020, GoAir operated flights to twenty-eight home and 9 worldwide locations.
    At current, three scheduled carriers are buying and selling on the home bourses — IndiGo, SpiceJet and Jet Airways. Jet Airways shuttered operations in April 2019.

  • Aditya Birla Sun Life AMC information papers with Sebi for IPO

    Aditya Birla Capital on Tuesday stated its arm Aditya Birla Sun Life AMC has filed a draft purple herring prospectus (DRHP) with capital markets regulator Sebi to launch its preliminary public providing (IPO).
    “Aditya Birla Sun Life AMC Ltd (ABSLAMC), a material subsidiary of Aditya Birla Capital, filed a draft red herring prospectus (DRHP) dated 19th April 2021 with the Securities and Exchange Board of India for an initial public offering by way of an offer for sale (IPO) of shares of ABSLAMC, subject to relevant approvals as required,” Aditya Birla Capital stated in a regulatory submitting.
    Aditya Birla Capital has authorised sale of as much as 28,50,880 fairness shares of face worth of Rs 5 every held in ABSLAMC out of the full paid-up share capital of 28,80,00,000 fairness shares of Aditya Birla Sun Life AMC, the corporate added.

    As per the submitting, Sun Life (India) AMC Investments Inc, the three way partnership shareholder in Aditya Birla Sun Life AMC, authorised sale of as much as 3,60,29,120 fairness shares of face worth of Rs 5 every held in Aditya Birla Sun Life AMC via the IPO.
    The proposed sale of fairness shares by Aditya Birla Capital and Sun Life India within the IPO will collectively represent as much as 13.50 per cent of the paid-up share capital of Aditya Birla Sun Life AMC, Aditya Birla Capital stated.

    Aditya Birla Sun Life AMC Ltd, the funding supervisor of Aditya Birla Sun Life Mutual Fund, is a three way partnership between the Aditya Birla Group and the Sun Life Financial Inc of Canada.
    As per Aditya Birla Sun Life AMC, it has a complete home property underneath administration (AUM) of over to Rs 2,38,000 crore for the quarter ended September 30, 2020.

  • Anupam Rasayan IPO opens on Friday: Everything it is advisable to know

    Anupam Rasayan IPO opens on Friday: Everything it is advisable to know

  • Craftsman Automation IPO to open on Mar 15, units worth band at Rs 1,488-1,490/share

    Auto element maker Craftsman Automation on Tuesday fastened a worth band of Rs 1,488-1,490 a share for its Rs 824-crore preliminary public supply, which can open for subscription on March 15.
    The three-day public concern will conclude on March 17, and the bidding for anchor traders can be open on March 12, Craftsman Automation stated in a digital press convention.
    The IPO includes a contemporary concern of fairness shares aggregating as much as Rs 150 crore and an offer-for-sale of as much as 45,21,450 shares by promoter and current shareholders.

    Those offloading shares within the offer-for-sale are Srinivasan Ravi, Ok Gomatheswaran, Marina III (Singapore) Pte Ltd and International Finance Corporation (IFC).
    Currently, IFC and Marina maintain 14.06 per cent and 15.50 per cent stake, respectively, within the firm. Besides, Srinivasan Ravi owns 52.83 per cent stake and Ok Gomatheswaran has 7.04 per cent shareholding.
    The IPO is predicted to fetch Rs 824 crore on the higher finish of the value band.
    Half of the difficulty is reserved for certified institutional consumers, 35 per cent for retail traders and 15 per cent for non-institutional bidders.
    Net proceeds of the difficulty will likely be utilized for compensation or pre-payment of sure borrowings availed of by the corporate and for basic company functions.
    In addition, the corporate expects to obtain the advantages of itemizing of the fairness shares on the inventory exchanges.
    Axis Capital and IIFL Securities have been appointed as ebook operating lead managers to the difficulty. Shares of the corporate are proposed to be listed on BSE and NSE.
    Earlier, the auto element maker had filed draft papers with Securities and Exchange Board of India (SEBI) in June 2018, and had acquired the regulator’s clearance for launching the IPO.
    However, the corporate couldn’t launch the preliminary share-sale because of unfavourable market circumstances, merchants stated.

    Headquartered in Coimbatore, the corporate has satellite tv for pc models throughout India together with in Pune, Faridabad, Pithampur, Jamshedpur, Bengaluru, Sriperumbudur and Chennai.

  • Easy Trip Planners IPO subscribed 2.33 occasions on Day 1: Here’s all the pieces you have to know

    The preliminary public providing (IPO) of Easy Trip Planners, which operates the web journey platform EaseMyTrip.com, opened for subscription earlier as we speak and obtained oversubscribed inside a couple of hours itself. So far, the problem was subscribed 2.33 occasions by the tip of the primary day of bidding.
    It obtained a requirement for 3,51,05,760 shares throughout each the inventory exchanges in opposition to 1,50,80,644 shares on provide, information from National Stock Exchange (NSE) confirmed.
    The firm permits its prospects to ebook flights, trains, buses and extra. It affords its companies by its web site and EaseMyTrip cell app on Android and iOS platforms.

    The Easy Trip Planners IPO will probably be accessible for subscription until Wednesday, March 10, 2021, and the value band of the East Delhi-based agency has been fastened at Rs 186-187 per share. The public subject is anticipated to fetch as much as Rs 510 crore on the higher finish of the value band.
    Investors who want to subscribe to Easy Trip Planners IPO can bid in loads of 80 fairness shares and multiples thereafter. At the higher value band, they are going to be shelling out Rs 14,960 to get a single lot of Easy Trip Planners. The shares will probably be listed on each BSE in addition to the National Stock Exchange (NSE).
    The candidates also needs to notice that the cut-off time for UPI mandate affirmation is Friday, March 12, 2021, upto 12:00 pm. If they fail to take action then their software will not be thought of.
    Easy Trip Planners IPO is totally an offer-for-sale (OFS) by which its founders Nishant Pitti and Rikant Pitti will every promote shares to the tune of Rs 255 crore. Nishant Pitti and Rikant Pitti maintain 49.81 per cent and 49.68 per cent stake, respectively, within the firm.
    The object of the general public subject is to realize the advantages of itemizing the fairness shares on inventory exchanges. Easy Trip Planners expects that itemizing the fairness shares will improve its visibility and model and supply liquidity to its present shareholders.
    Axis Capital and JM Financial are the ebook working lead managers to the EaseMyTrip IPO whereas KFin Technologies is the registrar of the problem.
    The analysis groups at Geojit Financial Services, Motilal Oswal Financial Services and Anand Rathi Share and Stock Brokers of their respective notes have all beneficial “Subscribe” to the provide.
    Geojit Research in its IPO notice stated, “At the upper price band of Rs 187, ETPL is available at P/E of 49x (annualized basis on FY21E EPS of Rs.3.8) which is fairly priced. With no listed peers and as travel business is expected to pick up its charm going forward, we assign a “Subscribe” score for the problem on a long-term foundation contemplating the extensive distribution community, rising digitalization, negligible debt and asset mild enterprise mannequin of the corporate.”

    Motilal Oswal Retail Research in its IPO notice said that, “We like ETPL given its lean business model, differentiated offering and strong customer connect. However the travel industry which was significantly impacted due to Covid-19, is likely to take much longer time to revive; though recovery is visible and vaccination drive would further propel it. The issue is valued at 49.9x FY21E P/E on an annualized basis. Being the first in the segment to get listed in India, ETPL could generate high investor interest. Thus we recommend Subscribe to the IPO.”

  • MTAR Technologies IPO: Everything you might want to know

    The preliminary public providing (IPO) of MTAR Technologies opened for subscription on Wednesday, March 3, 2021, and was met with strong demand. The difficulty subscribed 3.68 instances by the tip of the primary day of bidding. So far, the difficulty was subscribed 5.88 instances as of 12:10 pm on Thursday, March 4, 2021.
    It acquired a requirement for 4,26,91,844 shares throughout each the inventory exchanges towards 72,60,694 shares on supply, information from NSE confirmed.
    MTAR Technologies might be accessible for subscription until Friday, March 5, 2021, and the value band of the Hyderabad-based precision engineering options firm has been fastened at Rs 574-575 per share. The public difficulty is predicted to fetch as much as Rs 597 crore.

    Investors who want to subscribe to MTAR Technologies IPO can bid in a number of 26 fairness shares and multiples thereafter. At the higher value band, they are going to be shelling out Rs 14,950 to get a single lot of MTAR Technologies. The shares might be listed on each BSE in addition to the National Stock Exchange (NSE).
    The candidates additionally should observe that the cut-off time for UPI mandate affirmation is Monday, March 8, 2021, upto 12:00 pm. If they fail to take action then their utility will not be thought-about.
    The Hyderabad-based agency has precision engineering capabilities to construct nuclear and pressurized water reactors, aerospace engines, missile techniques, plane elements and plenty of such different essential elements and assemblies.
    It at the moment operates out of seven manufacturing amenities, together with an export-oriented unit positioned in Hyderabad, Telangana, and has been servicing the protection, aerospace and power sectors for greater than 4 many years.
    MTAR Technologies works with purchasers just like the Indian Space Research Organization (ISRO), Defence Research and Development Organization (DRDO), Nuclear Power Corporation of India Ltd and US-based Bloom Energy Corp, apart from catering to different well-known institutions like Bharat Dynamics and Hindustan Aeronautics (HAL).
    Prior to the general public supply, the anchor buyers’ portion was open for subscription on Tuesday the place MTAR Technologies raised Rs 178.92 crore from 44 anchor buyers, information from the inventory exchanges confirmed.
    JM Financial and IIFL Securities are the e book operating lead managers to the IPO whereas KFin Technologies is the registrar of the difficulty.
    Geojit Financial Services, LKP Securities and Anand Rathi Share and Stock Brokers of their respective analysis notes have all really helpful “Subscribe” to the supply.
    Geojit Financial Services in its IPO observe mentioned, “At the upper price band of Rs 575, MTAR is available at a P/E of 47.3x(annualized basis on FY21E EPS of Rs.12.2) which is aggressively priced. With no listed peers and a positive sentiment in the space & defence sectors due to Make in India and Atmanirbhar Bharat with limited competition for the products they manufacture, we assign a Subscribe rating, with a long term perspective.”

    LKP Securities in its analysis report famous that “At the higher price band of Rs 575, the stock is valued at 20x FY20 earnings of Rs 28.3 and commands premium considering its healthy order book, visibility of topline growth, competitive edge, superior profitability as compared to peers, return ratios, wide clientele spread across the globe, sound R&D base and technological progress. We recommend investors to SUBSCRIBE to the IPO of MTAR.”
    (with inputs from PTI)