The initial public offering (IPO) of RR Kabel was subscribed 1.4 times on Thursday, the second day of the issue. The IPO of Zaggle Prepais Ocean Services was subscribed 19 per cent
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Fintech firm Zaggle Prepaid IPO subscribed 19% on Day 1 of bidding (14-09-2023)
The Initial Public Offering (IPO) of fintech player Zaggle Prepaid Ocean Services Ltd received 19 per cent subscription on Thursday, the first day of the bidding.
The share sale received bids for 36,84,060 of 1,93,26,761 shares on offer, according to NSE data.
The portion for Retail Individual Investors (RIIs) was subscribed 87 per cent while the quota for non institutional investors received 11 per cent subscription.
The IPO has a fresh issue of up to Rs 392 crore and the offer for sale of up to 10,449,816 equity shares.
The price range of the IPO is Rs 156-164 per share.
Zaggle Prepaid Ocean Services on Wednesday said it has mobilised Rs 253.52 crore from anchor investors.
The company proposes to utilise Rs 300 crore of the net proceeds on expenditure towards customer acquisition and retention, up to Rs 40 crore on expenditure for the development of technology and products, and up to Rs 17.08 crore to pare down, in full or in part, debt availed of by the firm.
Founded in 2011,
RR Kabel IPO subscribed 1.4 times, Lukewarm response for Zaggle Prepaid (14-09-2023)
The IPO of Zaggle Prepais Ocean Services was subscribed 19 per cent on Thursday, the first day of its issue
Wires maker R R Kabel IPO subscribed 1.39 times on Day 2 of bidding (14-09-2023)
The Initial Public Offering (IPO) of wires and cables manufacturer R R Kabel was subscribed 1.39 times on the second day of bidding on Thursday.
The Rs 1,964 crore IPO received bids for 1,85,71,364 shares against 1,33,17,737 shares on offer, as per NSE data.
The category for non-institutional investors received 2.1 times subscription, while the quota for Qualified Institutional Buyers (QIBs) got subscribed 1.65 times. The portion for Retail Individual Investors (RIIs) was subscribed 95 per cent.
The IPO has a fresh issue of up to Rs 180 crore and an offer for sale of up to 17,236,808 equity shares.
The IPO has a price range of Rs 983-1,035 per share.
R R Kabel’s IPO was subscribed 25 per cent on the first day of bidding on Wednesday.
On Tuesday, the TPG-backed firm said it mobilised Rs 585.62 crore from anchor investors.
The company runs five manufacturing units — one cable and wire unit each at Waghodia in Gujarat and at Silvassa in Dadra and Nagar Haveli, and a commercial lig
Indian startup valuations recover in 2023 as companies eye profitability (14-09-2023)
The firm increased the face value of its investment in e-commerce firm Meesho in its books by 14.3 per cent to $43.24 million as of July, bringing the company’s valuation to around $5.04 billion
Sebi directs Brickwork to beef up board, appoint professional CEO (14-09-2023)
Brickwork will also have to ensure their chief regulatory officer, analysts and persons involved in the rating process undergo in-depth training
Realty firm Signature Global sets IPO price band at Rs 366-385 per share (14-09-2023)
Realty firm Signature Global has fixed a price band of Rs 366-385 per share for its maiden public issue and aims to raise Rs 330 crore from anchor investors.
Signature Global, which is based out of Delhi-National Capital Region, will hit the capital markets on September 20 with its IPO to raise Rs 730 crore. The offer will close on September 22.
In July last year, Signature Global filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi to launch its IPO.
According to the Red Herring Prospectus (RHP) filed earlier this week, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares of up to Rs 603 crore and Offer For Sale (OFS) of up to Rs 127 crore.
“Our net debt stood at around Rs 1,100 crore at the end of the last fiscal year. We propose to utilise Rs 432 crore for debt reduction,” Signature Global Chairman Pradeep Aggarwal told reporters here.
The balance fund will be used for inorganic growth through land acquisitions and gener
Intellect Design Arena rallies 5% on securing new banking contract (14-09-2023)
The company’s consumer banking arm has inked an agreement with AFC Commercial Bank to modernise its banking operations.
With 71% jump in 4 days, this PSU stock is at its highest level since 1994 (14-09-2023)
Shares of ITI Limited rallied 7% to Rs 212.45, its highest level since February 1994, on the back of heavy volumes
Hindalco surges 7% in 2 days on pact with Italian firm to make rail coaches (14-09-2023)
Meanwhile, Novelis, as subsidiary of Hindalco, expects global demand for aluminum beverage can sheet to grow at a 3 per cent compounded annual growth rate from 2022 to 2031