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Tag: Initial Public Offering

  • Swiggy IPO May Open On November 6: All You Want To Know | Economy News

    New Delhi: Food and grocery delivery major Swiggy is looking to raise Rs 11,300 crore through its initial public offering (IPO) opening for public subscription on November 6, sources said on Monday.

    Swiggy is one of the most valued new-age consumer brands to tap the Indian capital market. The company’s Rs 11,300-crore IPO is a combination of fresh issue of shares worth Rs 4,500 crore and an offer for sale (OFS) of Rs 6,800 crore, they added.

    Key Points You Want To Know About Swiggy Upcoming IPO

    1. The shares would be available at a price band of Rs 371 to Rs 390 apiece.

    2. The issue would conclude on November 8 and the bidding for anchor investors will open for a day on November 5, they added.

    3. Those selling shares in the OFS route are — Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V B.V, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings B.V, Norwest Venture Partners VII-A Mauritius and Tencent Cloud Europe B.V.

    4. Early investors like Accel, Elevation Capital and Norwest Ventures are making up to 35 times in returns on the portion they decided to sell. On the other hand, SoftBank continues to stay invested.

    5. Going by the IPO papers, proceeds from the fresh issue to the tune of Rs 137.41 crore will be used for debt payment of subsidiary Scootsy.

    6. Additionally, Rs 982.40 crore will be invested in Scootsy for expanding the Dark Store network in the quick commerce segment, with Rs 559.10 crore allocated for setting up dark stores and Rs 423.30 crore for lease or licence payments.

    7. The company will also invest Rs 586.20 crore in technology and cloud infrastructure, Rs 929.50 crore for brand marketing and business promotion, and funds will be allocated for inorganic growth and general corporate purposes.

    8. Swiggy’s confidential offer document was approved by Sebi in September and following this updated draft papers were filed.

    9. The company filed its offer document on April 30 through the confidential pre-filing route.

    10. Under the confidential filing process, Sebi reviews confidential DRHP and provides comments on it. Thereafter, the company going public is required to file an update to the confidential DRHP (UDRHP-I) after incorporating the regulator’s comments. This UPDRHP-I is made available for public comments over 21 days.

    11. Finally, after incorporating the changes due to public comments, the company is required to update the DRHP-II (UDRHP-II).

    12. In April, sources had previously stated that Swiggy received shareholders’ approval for an IPO to raise Rs 10,414 crore through issue of fresh equity shares and an offer for sale. A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, sources stated.

    Founded in 2014, Swiggy had a valuation of nearly USD 13 billion in April. The company’s annual revenue stood at USD 1.09 billion as on March 31, 2023, and has more than 4,700 employees, according to Tracxn, a global startup data platform.

  • Hyundai Motor India Stock Market Listing Today; Will Investors Make Big Money? Check GMP | Economy News

    New Delhi/Seoul: Hyundai Motor India is all set to make its stock market debut on Tuesday. This is Hyundai Motor’s first listing outside South Korea and the largest IPO in the history of the Indian stock market. The Indian subsidiary of South Korean automotive giant has surpassed the previous record set by the Life Insurance Corporation of India (LIC) in 2022, which then raised $2.5 billion.

    The IPO price band has been fixed at Rs 1,865-Rs 1,960 per share. The IPO is a pure offer for sale (OFS) and the entire proceeds will go to the promoter.

    Hyundai Motor India Stock Market Listing: Will Investors Make Big Money? Latest GMP 

    As per reports, the Hyundai Motor India latest GMP has declined suggesting a 2% premium of Rs 45-50 w.r.t its issue price of Rs Rs 1,865-Rs 1,960 per share apiece. Experts suggest that the scrip will have a tepid debut in stock market.  It must however be noted that since grey market premium is the parameter driven from unlisted market, the real time value on stock market can vary.

    Hyundai Motor India is the second-biggest carmaker in India, following Japan’s Maruti Suzuki. Industry observers are keen on whether the company can enhance its local competitiveness through the listing on the Indian stock market.

    The South Korean automotive giant has made aggressive investments in India in recent years.

    Last year, Hyundai acquired General Motors’ manufacturing plant in India’s western city of Pune. The company is currently upgrading the facility with a smart manufacturing system, aiming to achieve a production capacity of over 200,000 units annually.

  • Former Swiggy Employee Accused Of Embezzling Rs 33 Crore, Investigation Underway | Economy News

    New Delhi: A former junior employee at Swiggy has been accused of embezzling a Rs 33 crore from the food delivery giant, according to the company’s 2023-24 annual report, as reported by Moneycontrol. The company enlisted an “external team” to investigate the situation and has taken legal action against the former employee.

    “The Group, during the current year, identified embezzlement of funds in one of the subsidiaries by a former junior employee amounting to ₹326.76 million over the past periods..,” according to Swiggy’s annual report released on September 4.

    This comes at a time when the company filed its draft papers on April 26 for an initial public offering (IPO), aiming to raise up to Rs 3,750 crore through a fresh issue and up to Rs 6,664 crore through an offer-for-sale (OFS) which brings the total IPO value to 1.25 billion dollars.

    Swiggy’s revenue saw a 36 per cent growth in FY24 to Rs 11,247 crore, according to its annual report. The company also managed to cut its losses by 44 per cent, reducing them from Rs 4,179 crore to Rs 2,350 crore, thanks to tighter control over expenses.

    Total expenses dropped by 8 per cent to Rs 13,947 crore which is largely due to reduced spending on promotions and marketing which fell from Rs 2,501 crore last year to Rs 1,851 crore in 2023-24. Despite holding a 43 per cent market share, Swiggy still lagged behind its competitor Zomato which leads with 57 per cent in terms of gross order value (GOV).

  • Ixigo IPO Opens Today: Check Price Band, Lot Size And Other Details | Markets News

    New Delhi: Le Travenues Technology Ltd, which owns online travel aggregator Ixigo, is set to make its public debut on Monday. The company has set a price band of Rs 88-93 per share of its initial public offering (IPO). 

    The last day to apply for an IPO will be June 12.

    The lot size of the IPO is 161 shares. To bid in the IPO, retail investors will have to invest Rs 14,973.

    Ahead of its IPO, it raised over Rs 333 crore from 23 anchor investors at Rs 93 per equity share.

    The issue size of Ixigo IPO is Rs 740 crore. The fresh issue is worth Rs 120 crore, while the offer for sale (OFS) is worth Rs 620 crore.

    The company has reserved 75 per cent of the IPO for qualified institutional buyers (QIBs), 15 per cent for non-institutional buyers, and 10 per cent for retail investors.

    The allotment of the IPO will take place on June 13. Refunds and shares will be credited to the demat account on June 14. The shares will be listed on NSE and BSE on June 18.

    Ixigo is an online travel agency focused on travellers from tier II and tier III cities. Along with the company’s website, it also operates an app. In FY 2023-24, the company’s revenue in the first 9 months (till December 31) was Rs 491 crore. During this period, the company had made a profit of Rs 66 crore.

  • IPO Calendar: 11 Public Offerings To Hit Market This Week; Details Here | Markets News

    New Delhi: Investors are gearing up for a flurry of Initial Public Offerings (IPOs) as 11 companies prepare to enter the market in the last week of March. Among these, one company, SRM Contractors, will debut on the mainboard, while the remaining ten will launch in the SME (Small and Medium Enterprises) segment.

    SRM Contractors IPO

    SRM Contractors IPO: Subscription Dates

    The SRM Contractors IPO will be available for people to subscribe to from March 26, 2024, until March 28, 2024. (Also Read: Tac Security’s IPO To Open For Subscription On March 27: Check Price Band, Minimum Investment Amount, And More)

    SRM Contractors IPO: Expected Allotment Date

    They will decide who gets how many shares on April 1, 2024. Please note this is the expected date. The final allotment date is not finalized yet. (Also Read: 1 vs 3 vs 5 Year FD Rates: Check How Much Return You Will Get From Major Banks)

    SRM Contractors IPO: Expected Listing Date

    The IPO is expected to start trading on both the BSE and NSE stock exchanges on April 3, 2024.

    SRM Contractors IPO: Price Band

    The bidding for SRM Contractors’ IPO opens at Rs 200 to 210 per equity share.

    Trust Fintech IPO

    Trust Fintech IPO: Price Band

    Trust Fintech IPO will hit Dalal Street at a price band of Rs 95 to 101 per equity share.

    Vruddhi Engineering Works IPO

    With a price band of Rs 66 to 70 per equity share, the public offering is open for subscription on March 26, 2024.

    Blue Pebble IPO

    Investors can participate with a minimum bid of 800 shares. The IPO is opening on March 26, 2024. 

    Aspire & Innovative IPO

    Aspire & Innovative IPO is open for subscription on March 26, 2024. It will close on March 28, 2024. 

    GConnect Logitech IPO

    GConnect Logitech’s offering is open on March 26, 2024. 

    Radiowalla IPO

    Radiowalla’s initial public offering will hit the market on March 27, 2024.

    TAC Infosec IPO

    TAC Infosec plans to raise Rs 29.99 crore by offering 2.8 million shares. Investors can apply to this IPO from March 27, 2024.  

    Yash Optics & Lens IPO

    Opening on March 27 and closing on April 03, this IPO aims to collect Rs 53.15 crore.

    Jay Kailash Namkeen IPO

    With an IPO opening on March 28, Jay Kailash Namkeen aims to raise Rs 11.93 crore. 

    Aluwind Architectural IPO

    Closing out the financial year, Aluwind Architectural will open its subscription on March 28. 

  • Jana Small Finance Bank IPO Opens Today: Key Things To Know | Markets News

    New Delhi: The Initial Public Offering (IPO) of Jana Small Finance Bank is all set to open today. The bank will use the money from the fresh issue to augment its core capital to meet future capital requirements and to improve its capital adequacy ratio. Jana Small Finance Bank Limited, has allotted 40,32,588  Equity Shares to 17 anchor investors and raised Rs 166.95 crore ahead of the IPO on Tuesday..

    “The Bank plans to raise funds through initial public offering comprising fresh issue of Equity Shares aggregating to ₹ 4,620.00 million (₹ 462 crore) ( the “Fresh Issue”)* after adjusting for the Pre-IPO placement and Offer of Sale aggregating up to 2,608,629  Equity Shares by the selling shareholders (the “Offer for Sale”) (together, the “Offer”). The Offer includes a reservation of up to ₹ 135.00 million for subscription by eligible employees (“Employee Reservation Portion”),” the company had said.

    Here are key things you want to know about Jana Small Finance Bank IPO 

    Jana Small Finance Bank’s issue consists of a primary share sale of Rs 462 crore at the upper end of the price band and the remaining Rs 108 crore as offer for sale.

    The company has fixed Price Band at Rs 393 to Rs 414 per equity share of face value of Rs 10 each

    Bid/ Offer will open on Wednesday, February 7, 2024 and close on Friday, February 9, 2024

    The Anchor Investor Bidding Date was February 6, 2024 during which the company raised Rs 166.95 crore

    Out of the total allocation of 40,32,588 Equity Shares to the Anchor Investors, 2,41,560 Equity Shares (i.e. 6 % of the total allocation to Anchor Investors) were allocated to 1 domestic mutual funds through a total of 2 schemes.

    Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter

    Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.