SEBI ON IPOS
Bhavish Aggarwal compares Ola's upcoming IPO with that of Maruti's 20 years ago
Ola founder Bhavish Aggarwal elaborated on the process involved. "We filed the final observations. There's still a bunch of process steps to go through over the next few weeks. And as we go through them, we are keen to get onto the markets, as soon as we get them, but you won't give a date from data because, there's a SEBI process that you have to follow."
What NSE's price capping on SME IPOs mean
The latest move by NSE is going to flip the game for SME IPO investors - because this is going to directly impact the listing gains of many investors. NSE has imposed a whopping 90% price control cap on SME IPOs amid froth concerns during pre-open sessions.What NSE's price capping on SME IPOs mean
NSE caps listing gains in SME IPOs; ‘move to curb price swings’
NSE imposes a 90% cap on SME IPOs to stabilize prices; Winsol Engineering surged by 411%. Amit Goel noted reduced volatility. Sebi chair Madhabi Puri Buch raised SME manipulation concerns. Sebi took action against Varanium Cloud, SecureKloud Technologies, Add-Shop E-Retail, suspecting schemes like bonus issues, stock splits, and preferential allotments.
Acme Solar Refiles IPO Papers with Sebi to Raise Up to ₹3,000 crore
Acme Solar Holdings files IPO prospectus to raise funds, targeting revenue from operations and profit after tax. The company plans to utilize proceeds for outstanding borrowings and general corporate purposes, with Nuvama Wealth Management involved. Acme Solar's portfolio includes firm and dispatchable renewable energy projects, serving off-takers like central government-backed entities, along with wind energy projects.
SoftBank-backed FirstCry, Unicommerce get IPO Nod
SoftBank, Bahl, and Bansal, with an indemnity pact, face losses as FirstCry's online sales dominate, impacting revenue negatively.
IPO Corner: 4 companies are all set for a D-Street debut
Ahmedabad-based Mamata Machinery exports extrusion equipment while Shivalik Engineering Industries' IPO includes fresh issue shares and an offer for sale with a face value of ₹5 per equity share. Gala Precision and Interarch Building Products have received Sebi approval for their IPOs.
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Sebi clears FirstCry and Unicommerce IPO
FirstCry, an omnichannel baby products retailer, and ecommerce enterprise software developer Unicommerce have received approval from Sebi for their IPOs. Pune-based FirstCry had refiled its draft papers with Sebi following queries on its KPIs, while Unicommerce filed for the IPO in January.
Sebi approves IPOs of FirstCry, Unicommerce and Gala
Sebi approves IPO plans for FirstCry, Unicommerce, and Gala. FirstCry proposes to utilise the net proceeds up to Rs 1816 crore from the offer towards funding the expenditure for setting up new modern stores under the 'BabyHug' brand, setting up a warehouse in India, expenditure for lease payments for the existing identified modern stores owned and operated by the company, in India. Gala Precision Engineering had filed its IPO papers with Sebi on February 14, 2024. The IPO consists of a fresh issue of equity shares up to 25.58 lakh and an offer for sale up to 6.16 lakh by the promoter group and individual selling shareholders.
Health insurer Niva Bupa, Sagility India files draft papers with Sebi for IPOs
The IPO, with each share having a face value of Rs 10, consists of a fresh issuance worth Rs 800 crore and an offer for sale totaling up to Rs 2,200 crore by the promoters and existing investors. As part of the OFS, Bupa Singapore Holdings and Fettle Tone will be divesting their stakes.
Sagility India files draft papers; seeks Sebi's nod to float IPO
The company, in its draft papers filed on Friday, said that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.
Enviro Infra Engineers files draft papers to mop up funds via IPO
Proceeds from the fresh issue to the tune of Rs 181 crore will be used to meet the working capital requirements, Rs 100 crore will be used for payment of debt, Rs 30 crore will be infused into the company's subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh.
Gujarat-based packaging equipment firm Mamata Machinery files IPO papers with Sebi
Packaging equipment manufacturer Mamata Machinery Ltd has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO). The Gujarat-based company's initial share sale is entirely an offer for sale (OFS) of 73.82 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP).
IPOs won't be a no-exit entry, say experts after Sebi makes delisting easier
Describing the new rule as a potential game changer that could enhance merger and acquisition (M&A) deal activity, Abhishek Dadoo of Khaitan & Co. pointed out that the old regime allowed delisting through a reverse book build process, which sometimes led to excessively high prices. This often made delisting financially impractical for companies.
Sebi’s diktat on IPO-bound companies gives a jolt to PE investors
Sebi is intending to advance the timing of terminating special rights, from the date of listing of IPO shares to the date of filing of updated DRHP.
Sebi relief for IPO-bound PE investors
It had earlier in an advisory to merchant bankers said that private equity investors would have to cancel their special rights when the investee company files its updated IPO document with Sebi. Securities lawyers had said the requirement would expose PE investors to risks if IPOs of their investee companies fail to materialise.
NBFC Avanse Financial files draft prospectus for Rs 3,500 crore-IPO
The Rs 3,500 crore Avanse Financial IPO comprises a fresh equity sale of Rs 1,000 crore and an offer for sale (OFS) of up to Rs 2,500 crore by the existing shareholders. Under the OFS, Olive Vine Investment, International Finance Corporation, and Kedaara Capital Growth Fund III will offload shares. Net proceeds for the issue will be utilised for augmenting the capital base to meet the future capital requirements arising out of the growth of business and assets.
Sebi confirms interim direction; bans JM Financial from managing debt public issues till Mar 2025
SEBI confirmed restrictions on JM Financial, barring it from leading debt issuances until 2025. The firm also pledged to discontinue its subsidiary's IPO financing business.
Sebi modifies duration for call auction in pre-open session for IPOs
During the pre-open call auction for some IPOs and relisted stocks, unusually large orders were placed at inflated prices, only to be cancelled shortly before the session closed. This pattern suggests potential market manipulation. In order to curb the misuse of the call auction session, Sebi has decided to modify the current provisions related to call auction sessions for IPO and relisted scrips and introduce additional surveillance measures at stock exchanges.
Ola Electric secures Sebi approval for Rs 5,500 crore IPO
Ola Electric's IPO would be the first by an EV startup in the country and amongst the biggest new-age IPOs this year. The Bengaluru-based company had filed its DRHP with Sebi on December 22, proposing to raise up to Rs 5,500 crore through a fresh issue, apart from an OFS component of 95.2 million shares.
General Catalyst-Venture Highway deal; Sebi clears Ola Electric IPO
Silicon Valley investor General Catalyst has acquired Indian early stage fund Venture Highway. More on this in today’s ETtech Top 5.
Ola Electric, Emcure Pharma get Sebi nod for IPOs, setting stage for big listings
The Bengaluru-based company had filed its draft prospectus with Sebi in December last year. The issue comprises a fresh equity sale of Rs 5,500 crore and an offer-for-sale (OFS) of 95.2 million shares.
Emcure Pharmaceuticals receives SEBI nod for its IPO launch
Emcure Pharmaceuticals received SEBI nod for IPO launch after filing DRHP in December 2023. The IPO includes equity shares and an Offer of Sale by promoters. Proceeds will be used for debt payment. Emcure Pharmaceuticals is renowned for its global marketing of pharmaceutical products.
Ola Electric gets Sebi nod for public offer
Ola Electric, set for a $6 billion IPO, plans layoffs amid IPO filings by Swiggy and FirstCry.
Ola Electric IPO: All about the first EV startup IPO in India
Ola Electric, a Bengaluru-based EV startup, receives Sebi approval for IPO, marking a milestone in Indian EV industry. Founder Bhavish Aggarwal informed employees about the regulatory green light.
Ola Electric secures Sebi nod for Rs 5,500-crore IPO
Ola Electric has received approval from Sebi for the first EV startup IPO in India. This would be among the biggest new-age IPO in India this year. Swiggy and FirstCry have also filed their draft IPO paper and awaiting regulatory clearance. The Bengaluru-based company is eyeing a $6-billion valuation through the public offering.
Ixigo IPO opens for subscription. Should you bid?
Ixigo IPO by Le Travenues Technology will open for subscription with a price band of Rs 88-93 per share. Investors can bid for 161 shares in one lot. The IPO closes on June 12.
Ixigo IPO opens tomorrow. What GMP signals ahead of subscription?
Before its initial public offering (IPO) set to open for subscription on Monday, Le Travenues Technology, the company behind the travel platform Ixigo, is seeing its shares trade at a premium of Rs 25 in the unlisted market.
Ixigo raises Rs 333 crore from anchor investors ahead of IPO
Nomura, Morgan Stanley, 3P India Equity Fund, HDFC MF, Motilal Oswal MF, Government of Singapore are some of the marquee investors who subscribed to Ixigo's anchor book. The company had already announced pre-IPO secondary placements of around Rs 176.2 crore at the top end of price band.
Startups seek advice on IPO timing in choppy markets
Multiple new-age companies looking to go public are seeking counsel on their next moves in response to the stock market volatility following the general election results on Tuesday. These companies are looking for advice on the timing of their public listings even as they remain confident about India's macroeconomic prospects, founders, investors and investment bankers told us.
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