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China’s Meituan Dianping Raises $4.2 billion in Hong Kong IPO

14Sep By Gauri SinghNo Comments

Market

China’s Meituan Dianping Raises $4.2 billion in Hong Kong IPO

Meituan Dianping, Chinese online food delivery-to-ticketing services company has reportedly raised $4.2 billion in the world's largest internet-focused IPO in four years. Tencent Holdings-backed Chinese firm sold about 480 million primary shares at HK$69 ($8.79) each in the Hong Kong IPO. This IPO valued the company at around $52.8 billion. "Since the stock priced at the upper end of the range, it suggests institutions are holding a more positive view on the company and on this type of new economy IPOs," said Steven Leung, sales director at brokerage UOB Kay Hian. The funds collected by the company will help them to fortify itself against tough competition from its main competitor, food-delivery platform Alibaba-backed Ele.me. Both of these platforms, in a tough battle for market shar...

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

13Sep By Gauri SinghNo Comments

Market

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

One of the largest electric vehicle startup NIO which is also a rival of Tesla has reportedly has made its market debut on the US stock market with a $1 billion IPO (initial public offering). The company’s basic motive behind this move is to boost up the production of its electric vehicles as well as and expand their EV infrastructure. With this IPO, the company has become the first Chinese-backed electric vehicle startup to go public in the US. The startup was backed by Chinese internet giant Tencent Holdings Ltd. Last year, NIO raised up to $600 million in its latest financing round led by Baidu. “We had actually a healthy book and then some orders got pulled or reduced because of market conditions,” NIO’s chief financial officer, Louis Hsieh, said. It was last month that an ann...

Meituan-Dianping Aims to Raise $4.4 billion from IPO

5Sep By Gauri SinghNo Comments

Market

Meituan-Dianping Aims to Raise $4.4 billion from IPO

China’s food delivery and restaurant review major Meituan-Dianping said it aims to raise up to $4.4 billion (roughly Rs. 31,400 crores) for its initial public offering (IPO) in Hong Kong. Instead of a not-so-effective response to other recent IPOs in the city, the company is planning to go public. With the IPO, Meituan will offer 480.27 million new shares at a range of HK$60 ($7.64) to HK$72 apiece. The company stated that they are making losses and also said that it could not guarantee profitability in future despite of having hundreds of millions of users on its platform. Talking about the company, Meituan.com was founded in 2010 by CEO Wang Xing and was merged with comment-rating platform Dianping Holdings in 2015. The company has been backed by internet giant Tencent and provi...

China’s Maoyan Weiying to File an IPO on the Hong Kong Stock Exchange

4Sep By Gauri SinghNo Comments

Market

China’s Maoyan Weiying to File an IPO on the Hong Kong Stock Exchange

China’s largest online movie ticketing service Maoyan Weiying reportedly filed for an initial public offering (IPO) on the Hong Kong stock exchange. The Tencent-backed company, however, has yet not disclosed that when the IPO will be or other valuation details. But, according to the earlier reports of this year, Maoyan aims to raise up to $1 billion. This move has come soon after another Tencent investment, Meituan-Dianping, is preparing for its own debut (Meituan is also one of Maoyan’s investors). Both Meituan and Maoyan are an important part of Tencent’s online-to-offline services rivalry with Alibaba. Meituan holds the number one market share for online services in China in terms of market volume. Similarly, Maoyan is the largest online movie ticketing app service in China. It...

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

28Aug By Gauri SinghNo Comments

Market

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

Auto component manufacturer Craftsman Automation Pvt Ltd has successfully received capital markets regulator Sebi's approval for the launch of its initial public offerings (IPO). The firm had filed its draft prospectus with SEBI in June. The two PE backers of the company are Standard Chartered Private Equity and International Finance Corporation (IFC), World Bank’s private-sector investment arm. The promoters offloading the stakes include Srinivasan Ravi (2.10 lakh shares), Marina III (Singapore) (over 15.59 lakh), IFC (14.14 lakh ) and K Gomatheswaran (up to 12 lakh). The funds raised by the company through this public offering are expected to be utilized towards the repayment/pre-payment of certain borrowings and for general corporate purposes fully or partly. Craftsman Autom...

Cipla’s Ugandan Unit Expects to Raise $45 million from IPO

15Aug By Gauri SinghNo Comments

Market

Cipla’s Ugandan Unit Expects to Raise $45 million from IPO

India’s pharmaceutical giant Cipla’s Ugandan unit is reportedly aiming to raise $45 million from initial public offering (IPO). The company priced its IPO at 256.5 shillings per share. This amount is expected to be raised from its listing on the Kampala stock exchange next month. Cipla Quality Chemical Industries is majority owned by India's third-largest drugmaker and is selling 657,179,319 shares or an 18 per cent stake in the company. In this regard, the company has stated that each of its shareholders would be “selling a minority of their stakes” in the IPO and also the transaction and potential listing had gained regulatory approvals. The company expressed as part of its growth strategy, it “has been evaluating an initial public offering and listing of its issued share capital ...

China’s Electric Car Maker Nio Files an IPO to Raise $1.8 Billion

14Aug By Gauri SinghNo Comments

Market

China’s Electric Car Maker Nio Files an IPO to Raise $1.8 Billion

A Chinese electric car maker Nio has announced its filing to go public on the New York Stock Exchange. The company through this initial public offering (IPO) is looking to raise $1.8 billion. With this, Nio has become the first Chinese automaker to seek a listing in the U.S. This news comes at a time when Elon Musk is looking forward to taking Tesla private. The company seems to represent new competition to automaker Tesla. "We are generally targeting to launch a new model every year in the near future as we ramp up our business," the company stated. The initial public offering is being led by Morgan Stanley, Goldman Sachs Group Inc., JP Morgan Chase & Co., Bank of America Corp., Deutsche Bank AG, Citigroup Inc., Credit Suisse Group AG and UBS Group AG. The company applied to l...

Xiaomi to Utilize a Part of IPO Funds in Indian Operations

6Aug By Gauri SinghNo Comments

BUSINESS

Xiaomi to Utilize a Part of IPO Funds in Indian Operations

The Chinese smartphone giant Xiaomi is reportedly planning to invest a part of the capital it raised from its recent IPO, into its Indian operations. The purpose behind this move is to build the ecosystem of internet services, make more startup investments and build India-specific IoT devices as stated by company’s India head Manu Kumar Jain. Along with this, the smartphone maker is also expecting to foray into the premium smartphone space in India which is currently being led by another Chinese giant OnePlus. “Some part of the global expansion money will be spent in India,” Jain stated in his first press interaction following the IPO. “We have had a great journey for smartphones, powerbanks and for Mi.com in India, but we can do a lot more on internet services, startup investments and...

Restaurant Chain Barbeque Nation Raises Pre-IPO Funds From Jhunjhunwala

25Jul By AnkitaNo Comments

Market

Restaurant Chain Barbeque Nation Raises Pre-IPO Funds From Jhunjhunwala

One of the top investor Rakesh Jhunjhunwala's co-founded firm, Alchemy Capital Management, has recently invested Rs 80-90 crore in CX Partners-backed casual dining restaurant chain Barbeque Nation Hospitality Ltd before the IPO placement. “Alchemy Capital has picked up a minority stake in Barbeque Nation through Alchemy India Fund for a consideration of around ₹80-90 crore. The pre-IPO placement valued the company at ₹2,300-2,400 crore”. According to the reports, The capital will be used to build new restaurants and also for repayment of debt. In 2013, CX Partners had invested in the restaurant chain, Alchemy Capital was set up in 1999. The first Barbeque-Nation restaurant was launched in 2005. The company operated 81 restaurants across 42 cities in India and one in Dubai till 30 J...

Sachin Tendulkar Backed Smaaash Entertainment Expects to Raise Millions From IPO

18Jul By Gauri SinghNo Comments

Market

Sachin Tendulkar Backed Smaaash Entertainment Expects to Raise Millions From IPO

A virtual gaming firm Smaaash Entertainment that was backed by Sachin Tendulkar is expected to launch its initial public offering (IPO) by the end of this year in December 2018. The company has anticipated an amount of about $72 million (Rs 500 Cr) from its IPO. According to the reports, in the financial year 2017, Smaaash’s operating revenue closely doubled to $16 million (Rs 103.26 Crore), and along with this its losses also increased by around 33% to $5 million (Rs 32.8 Crore). The funds acquired by the initial public offering will be utilized the purpose of inorganic growth initiatives, repay part of its debt and for the requirements of its working capital. The company was founded in 2012 by film director and producer Shripal Morakhia. Smaaash is a gaming arcade operator with ...

Exclusive Interview of Salebhai Founders Prior to the Launch of IPO

9Jul By NitishNo Comments

Entrepreneurs Talk

Exclusive Interview of Salebhai Founders Prior to the Launch of IPO

Amidst all the trending news regarding the IPO and BSE SME platform, our platform was quite curious to know more about the SaleBhai IPO issue and also to know about the various things that were not disclosed by the company. Therefore, we conducted an exclusive interview with one of the co-founders of SaleBhai, Vishwavijay Singh and he answered all our questions and disclosed various details that were not known as of now. For the very first time, the co-founder revealed the amount that the company is going to raise from the IPO. Apart from this, IndiaMart's IPO has also been approved and it will also be listed under the BSE SME platform. Here we have the list of those questions and their answers in the words of Vishwavijay Singh. This exclusive interview will surely help you know SaleBha...

Online Startups That Are Listed Under Stock Exchange

9Jul By Gauri SinghNo Comments

Market

Online Startups That Are Listed Under Stock Exchange

What is the stock exchange? In simple words, stock exchange refers to an organized market in which securities are bought and sold. If we go into the detailed description, the prices at which these securities are bought and sold are regulated by the forces of demand and supply. The stock exchange basically is an investment intermediary for corporations, governments, municipalities, and other incorporated bodies where they can raise capital by channeling savings of the investors in various productive ventures. The other purpose served by the stock exchange is that the investors can sell their securities to other investors for cash. These exchanges impose various rules and regulations on the firms and brokers that are involved with them. If a particular company is traded on an exchange,...