The SME IPO of Kalana Ispat will open for subscription today and close on September 23. The company aims to raise nearly Rs 32.6 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. … Read more
The initial public offering (IPO) of Western Carriers was fully subscribed at 4.83 times as on day 2, receiving over 10 crore consolidated share bids as on Monday, 5 pm, against 2,08,68,467 crore shares available for subscription. The retail portion received a solid response and was booked 7.32 times. The non-institutional investors (NIIs) subscribed the … Read more
The initial public offering (IPO) of Northern Arc Capital, which opened for subscription earlier on Monday, was subscribed 2.87 times on the first day, attracting the strongest demand from retail investors. Retail investors had subscribed to the issue 3.87 times followed by non-institutional investors who booked it 4.48 times. Meanwhile, the qualified institutional buyers (QIBs) … Read more
The initial public offering (IPO) of Tolins Tyres will open for subscription on September 9. The issue will be available for investors to bid till September 11. The offer comprises a fresh equity sale of Rs 200 crore and an offer for sale (OFS) of Rs 30 crore. Under the OFS, promoters Kalamparambil Varkey Tolin … Read more
Interarch Building Products Limited, whose initial public offering (IPO) will open for subscription on Monday, has garnered Rs 179.49 crore from anchor investors. The company has informed exchanges that it has allocated 19,94,288 equity shares at Rs 900 per share on Friday to anchor investors. Interarch is a turnkey pre-engineered steel construction solution providers in … Read more
As SME IPOs become a more mainstream asset class for investors, regulators are looking to formalize the market through multiple checks and balances. In one such move, the leading exchange NSE capped the listing price of SME issues at 90%, regardless of the grey market trends. Nephro Care, which had a pre-listing grey market premium … Read more
Ajax Engineering Pvt, an Indian concrete equipment maker backed by Kedaara Capital, is considering an initial public offering that could raise Rs 20 billion ($240 million), people familiar with the matter said. Ajax Engineering is working with advisers to help prepare for an IPO in Mumbai in the fourth quarter, the people said, asking not … Read more
After a healthy response to the IPO, the shares of Aadhar Housing Finance listed on the exchanges today at Rs 314.3, a marginal discount of 0.22%, on BSE. Ahead of the listing, the company’s traded with a premium of Rs 50 in the unlisted market The company boasts of highest assets under management (AUM) within … Read more
Continuing the positive trend seen on the first day, the SME IPOs of TAC Infosec and Radiowalla Network, backed by marquee investors Vijay Kedia and Ashish Kacholia, respectively, were subscribed over 10 times on the second day of the bidding process. Here’s a look at all the details: TAC Infosec IPO The IPO of TAC … Read more
Buoyed by positive investor sentiment and listing gains, more companies have shown their appetite to raise funds through the primary market in FY24 compared to the previous year. About 76 companies accessed the public markets in FY24, raising nearly Rs 62,000 crore through mainboard IPOs. This is 19% higher than the Rs 52,116 crore mobilized … Read more