Posts in category Business Standard
Azad Engineering Ltd submits application for Rs 740 cr IPO with Sebi (30-09-2023)
Azad Engineering Ltd has filed draft papers with capital markets regulator Sebi to raise Rs 740 crore through an initial public offering (IPO).
The company's IPO comprises a fresh issue of up to Rs 240 crore and an offer-for-sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors, according to the draft red herring prospectus (DRHP).
The OFS consists of the sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, equity shares worth up to Rs 280 crore by Piramal Structured Credit Opportunities Fund and equity shares to the tune of up to Rs 50 crore by DMI Finance.
Proceeds from the fresh issues will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes, as per the draft papers filed on Friday.
Azad Engineering is one of the key manufacturers of their qualified product lines supplying global original equipment manufacturers (OEMs) in the aerospace and defence, energy, and oil an
Agilus Diagnostics files draft papers with Sebi to raise funds via IPO (30-09-2023)
Agilus Diagnostics Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The maiden public issue is entirely an offer for sale (OFS) of 1.42 crore equity shares by International Finance Corp, NYLIM Jacob Balls India Fund III LLC, and Resurgence PE Investments Ltd, according to the draft red herring prospectus (DRHP).
Since the IPO is entirely an OFS, the entire proceeds will go to the existing shareholders.
Agilus Diagnostics, formerly known as SRL Ltd, is one of the largest diagnostics service providers in terms of number of laboratories and the second largest in terms of revenue from operations in India, as of financial year ended March 31, 2023, according to a Crisil report.
As of March 31, 2023, it had a network of 413 laboratories out of which 43 laboratories were accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL).
The company has an international presence acro
Shreyas Shipping stock falls after counter offer; Juniper Hotels files DRHP (29-09-2023)
Juniper Hotels, which runs hotels under the Hyatt brand, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi)
Soaring high in the first half of FY24, stock markets may hit air pocket (29-09-2023)
Benchmark and broader market indices up 11-42% but rising US bond yields, oil prices threaten to pull them down
Pharma firm Valiant Lab’s IPO subscribed 2.17 times on third day of bidding (29-09-2023)
The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 2.17 times on the third day of bidding on Friday.
The initial share sale received bids for 1,65,77,925 shares against 76,23,030 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) was subscribed 3.11 times while the quota for non-institutional investors got subscribed 1.51 times. The portion for Qualified Institutional Buyers (QIBs) received 1.04 times subscription.
Price range for the offer is Rs 133-140 a share.
The IPO is an entirely fresh issuance of up to 1.08 crore equity shares.
Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd -- and to meet the working capital requirements of the subsidiary company.
Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company with it
Dee Development Engineers seeks Sebi nod to raise funds through IPO (29-09-2023)
Piping solutions provider Dee Development Engineers Ltd has filed draft papers with capital markets regulator Sebi to mop up funds through an Initial Public Offering (IPO).
The initial share sale comprises fresh issuance of equity shares worth Rs 325 crore and an offer for sale of 79 lakh equity shares by a promoter Krishan Lalit Bansal, according to the Draft Red Herring Prospectus (DRHP).
Currently, Bansal owns 74.74 per cent stake in the company.
In addition, the company may consider mobilising Rs 65 crore in a pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced.
As per the preliminary papers filed on Thursday, the funds mopped up through the fresh issuance of equity shares will be used for payment of debt, supporting working capital requirements and for general corporate purposes.
SBI Capital Markets and Equirus Capital have been appointed as merchant bankers to manage the company's maiden public issue. Equity shares of the engineeri
Crypto wrap: Ethereum outperforms Bitcoin as investors tread with caution (29-09-2023)
Apart from Ethereum, almost all the major crypto coins traded range bound in the last one week
MCX delays shift to new trading platform; shares decline 9% intraday (29-09-2023)
Shares of MCX, after dropping as much as 8.7 per cent to Rs 1,913, recouped most of its losses to finish at Rs 2,053, down 2.1 per cent over its previous day's close
Glenmark Pharma soars 10% after S&P Global upgrades outlook to positive (29-09-2023)
The rating agency expects Glenmark to significantly reduce debt on completion of the GLS sale and maintain healthy earnings.