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Automotive components firm Sandhar Technologies has received market regulator Sebi's approval to raise at least Rs 300 crore from an initial public offering. The company had filed the draft red herring prospectus (DRHP) with Sebi on September 29, seeking permission for an IPO. The Securities and Exchange Board of India (Sebi) has cleared the proposed initial share sale and gave its final observations on the IPO on December 21. The initial public offer (IPO) consists fresh issue of equity shares aggregating up to Rs 300 crore and offer for sale of up to 51.15 lakh shares by GTI Capital Beta at a face value of Rs 10 each. The funds garnered from the IPO will be used for setting up a new manufacturing facility at Hosur in Tamil Nadu, repayment/pre-payment, in full or part, of cert...

Shares of India's biggest diagnostic chain Dr Lal PathLabs listed with a strong premium of almost 31% over the issue price of Rs 550 on Tuesday. On BSE, Dr Lal's stock opened at Rs 717, up 30.36% as against the issue price. Within minutes of trade, it touched a high of Rs 747 and a low of Rs 715.50. The stock listed at Rs 720, a steep gain of 30.9% on NSE. The company commands a market valuation of Rs 6,142.16 crore. Dr Lal's IPO was a big success with 33.41 times over-subscription. In the IPO, the qualified institutional buyers (QIBs) part was subscribed 63.56 times and non-institutional investors saw 61.28 times subscription. The retail investors category was subscribed 4.24 times. Prior to Dr Lal's IPO, Alkem, S H Kelkar, VRL Logistics, Power Mech Projects and Syngene Intern...

Tag: BSE

Sandhar Technologies gets Sebi nod for IPO

Dr Lal PathLabs sees blockbuster listing on BSE; stock up 31%