Two Indian manufacturers, Laser Power & Infra Ltd (LPIL) and Indo MIM Ltd, filed draft red herring prospectuses (DRHPs) with the markets regulator Securities and Exchange Board of India (Sebi), setting the stage for initial public offerings (IPOs) that together could raise over Rs 2,200 crore. The filings mark the latest wave of industrial and … Read more
Hospitality chain Oyo has secured board approval to pursue a fresh initial public offering (IPO) filing, according to people familiar with the matter. Sources cited above indicated that the filing will highlight the company’s quarter one financial performance and operational improvements. Besides founder and CEO Ritesh Agarwal, Oyo’s board includes former Starbucks COO Troy Alstead; … Read more
Milky Mist Dairy Food, one of India’s fastest-growing packaged food companies, has filed its DRHP with Sebi to raise up to Rs 2,035 crore through an IPO. The offer comprises a fresh issue of Rs 1,785 crore and an offer-for-sale component of Rs 250 crore by promoter shareholders Sathishkumar T and Anitha S. Headquartered in … Read more
Smart energy meter manufacturer Allied Engineering Works has filed preliminary papers with the markets regulator Sebi to garner funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of shares worth Rs 400 crore, and an offer-for-sale of 75 lakh shares by promoter Ashutosh Goel, according to the draft … Read more
Pune-based auto component manufacturer Belrise Industries has fixed the price band for its Rs 2,150 crore initial public offering (IPO) at Rs 85–90 per share. The IPO will open for subscription on May 21 and close on May 23, with anchor bidding scheduled for May 20. Investors can bid for a minimum of 166 equity … Read more
The initial public offer (IPO) of Ather Energy will open for subscription today. The company is planning to raise about Rs 2,981 crore through the IPO, where it is offering fresh equity shares of 8.18 crore and an offer for sale (OFS), which comprises 1.1 crore shares. Under the OFS, promoters Tarun Sanjay Mehta and … Read more
Mumbai: India’s primary market is poised to snap a two-and-a-half-month dry spell, with electric scooter maker Ather Energy gearing up to launch its ₹3,000 crore initial public offering on April 28, said people familiar with the matter. The Bengaluru-based startup, backed by Hero MotoCorp, is expected to be valued at ₹9,900 crore pre-IPO and ₹12,500 … Read more
Neelkanth Mishra, Chief Economist, Axis Bank & Head of Global Research and Whole Time Director, Axis Capital, says the worst of the growth should be behind us in the sense that the Indian economy may be going through a cyclical bottom. The 7% odd growth is what the economy can deliver. The labour input, capital … Read more
Brokerage firm InCred upgraded Infosys to an ADD post Q3 results, Morgan Stanley also upgraded TCS to overweight post Q3 results, Axis Capital maintained an ADD rating on Polycab and Jefferies has a buy rating on Macrotech Developers. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: InCred … Read more
Uttar Pradesh-based Epack Durables Ltd has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering to raise Rs 400 crore through fresh issue of shares. The IPO also consists of an offer for sale of 1,30,67,890 shares by promoters, promoter group entities, and other … Read more