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Railway PSU RITES aims for $550 Mn valuation in IPO

12Jun By Lavina TolaniNo Comments

Market

Railway PSU RITES aims for $550 Mn valuation in IPO

The public sector undertaking (PSU) of Indian Railways, RITES is looking forward to Rs. 3700 crore valuation in its initial public offering slated for June 20-22. RITES, which is a state-owned railway consultant has designated a price band of Rs. 180-185 apiece resulting in an IPO size of Rs 466.20 crore. Additionally, there is a Rs. 6 discount that will be given to retail investors and eligible employees. According to the sources, the proposed IPO will involve a sale of 25.2 million shares by the government which also includes the stock reserved for the employees. Meanwhile, another news is ongoing rounds regarding RITES likely to acquire around 25 per cent stake in Indian Railway Stations Development Corporation (IRSDC), the nodal agency for the redevelopment projects. The gover...

PSU Garden Reach Shipbuilders Receives SEBI Nod for IPO

29May By Lavina TolaniNo Comments

Market

PSU Garden Reach Shipbuilders Receives SEBI Nod for IPO

While the IPO market is still dormant, Garden Reach Shipbuilders & Engineers has received SEBI's approval to go ahead with its initial public offering. According to the latest update, the warship maker has filed a draft red herring prospectus (DRHP) with market regulator on March 26 and had obtained its observations on May 22. Garden Reach Shipbuilders, abbreviated at GRSE, it is one of the leading shipyards in the country situated in Kolkata, West Bengal. While it builds and repairs commercial and naval vessels, it has recently started building export ships in a mission to expand its business. As per the draft filed, Garden Reach Shipbuilders IPO will account for selling of 20,046,600 equity share which corresponds to 17.5 percent stake in the company. The public issue i...

23May By Lavina TolaniNo Comments

Market

Food Marketplace SaleBhai Files for IPO on BSE

SaleBhai Internet Pvt Ltd, an online marketplace for specialty foods has filed a draft prospectus with the BSE's SME platform to launch initial public offering intending to raise about Rs. 24 crore. The Ahmedabad based company that offers a varied marketplace for specialty food such as snacks, sweets, bakery items, dried syrups, chocolates and confectionery has confirmed to issue 22,59,600 equity shares, offering 26.58 percent of the company's equity in the market while listing on Bombay Stock Exchange. The IPO has been assigned a fixed price of Rs. 105 per share that will result in stake dilution of 26.58%. Interestingly, the company claims to be the very first B2C e-commerce startup firm to have filed for an SME IPO. The e-commerce firm intends to use the funds raised through I...

E2E Networks Stellar IPO Listing May Open Up viable Exit Gate for VC’s

20May By Lavina TolaniNo Comments

Market

E2E Networks Stellar IPO Listing May Open Up viable Exit Gate for VC’s

The spectacular performance of Computing Infrastructure platform E2E Networks Ltd backed by Blume Ventures earlier this week could bring significant opportunity for VC exits through the route, as forecasted by the experts. The company's IPO marked a close on 7 May with over a subscription of 70 times, while it's listing on 15 May witnessed share closure at 56% above issue price of Rs. 57. E2E is involved in the business of cloud infrastructure that includes servers, networking, virtualisation and other open source software pieces. The company's IPO turned out to be magnificent bringing an end to the struggled journey that startup had been walking since it came out. The Cloud Infrastructure provider has reported a 37.5% jump in revenues from operations to Rs 29.3 crore for the year en...

Indostar Capital Finance IPO subscribed two-thirds on Day 2

12May By Lavina TolaniNo Comments

Market

Indostar Capital Finance IPO subscribed two-thirds on Day 2

The Initial Public Offering of a Non-banking financial company backed by Everstone Capital-IndoStar Capital Finance Ltd. was subscribed 69% on the second day of bidding on Thursday. According to stock exchange data, the public issue of 22.57 million shares which excludes the allotment of anchor investors received bids for nearly 46.46 million shares. The category Qualified institutional buyers (QIBs) which was set aside also witnessed a subscription for over 1.80 times non-institutional investors 3% and retail investors 34%. Much ahead of the offering, this Mumbai based firm has successfully raised Rs 553.2 crore from prominent anchor investors including East Bridge Capital and Fidelity among others. The IPO will witness partial exit of promoters as well as co-investors. The of...

9Apr By Lavina TolaniNo Comments

Market

Lemon Tree Hotels Lists 10 percent Premium on Market Debut

Lemon Tree Hotels listed to make its market debut today opened on a decent note with a script listing of Rs.61.60 on the BSE, accounting for 10 percent premium over the issue price of Rs.56. As per data from National Stock Exchange (NSE), initial public offering (IPO) received bids for 15.49 crore shares and was subscribed over 1.19 times from a period extending 26 March 2018 to 28 March 2018. The price spectrum for the stocks was fixed at Rs. 56 per share. This hospitality chain and hotel group are considered to be India's largest chain in the mid-priced sector within hotel market while it is third largest overall. Lemon Tree hotels have already raised 311 crores from anchor investors. The public issue is being raised to achieve the benefits of equity share on stock exchanges. ...

ICICI Securities Decreased the Size of IPO After Slow Start

27Mar By Sheldan RungasamyNo Comments

Market

ICICI Securities Decreased the Size of IPO After Slow Start

Brokerage firm giant ICICI Securities decreased the amount of its initial public offering to almost Rs3,500 crore after the opening sale met a slow start, particularly since targeted individuals with large assets didn’t seem interested. ICICI Securities is the third daughter company of the ICICI Group to join the market since 2016 and overall fourth after ICICI Bank, ICICI Prudential Life and ICICI Lombard General Insurance. The initial opening of the IPO was set to Rs4,016 crore and met a subscription of 88% inclusive of the anchor portion, which accounts for 10% of subscriptions. ICICI Securities released a statement saying it “successfully closed its proposed Offer for Sale (OFS) and raised around Rs3,500 crore.” The IPO collected bids buying 34,575,396 shares from the 44,225,3...

26Mar By Sheldan RungasamyNo Comments

Market

Dropbox Dominates Share Market as Valuation Soared After IPO

Dropbox began its market debut extremely well as shares topped their marketed range in the biggest technology initial public offering (IPO) of the year. One share was valued at $28.48 when the market closed in New York on Friday, thus empowering the file sharing company with a market valuation worth $11.2 billion. They rose over 50% the amount initially asked in their IPO to as high as $31.60. Four years ago, in the company’s last private funding round, Dropbox was valued at $10 billion. The success of Dropbox on the market share could help resolve the one problem that has been restraining Silicon Valley companies from going public – their own heavy price tag. Dropbox first targeted a market valuation at $7.1 billion but the strong demand for the file sharing company’s shares ...

Dropbox Drops Valuation by $2.5 Bn Ahead of IPO

14Mar By Sheldan RungasamyNo Comments

Market

Dropbox Drops Valuation by $2.5 Bn Ahead of IPO

Dropbox, the file storage company, set proposed terms for its initial public offering. The company’s IPO owns 36 million shares on offer, 5.4 million as underwriter green-shoe offering, a $16-$18 per-share price range, a maximum initial sale of $648 million and a fully-cocked $745.2 million bill including the green-shoe shares. This puts the valuation of the company at around $7.5 billion ahead of its initial public offering, hence making Dropbox the biggest tech IPOs in the last few years. However, this figure is lower than the $ 10 billion valuation set by the company in 2014 when raising private capital. This valuation will make the file storage company the largest U.S tech IPO since Snap Inc. made its stock debut in March 2017. The filings released by the company also revealed that ...

4Dec By RishabhNo Comments

Market

Xiaomi To Seek $50B Valuation In IPO

Beijing based Chinese smartphone maker company Xiaomi is in talks with investment banks about an initial public offering and is seeking a valuation of at least $50 billion, Bloomberg reported. Once, the world's most valued startup is in the word is considering an offering in the starting of the year 2018 with most probably Hong Kong as its destination, quoted people who don't want to be named. While banks have talked up prospects of the Chinese smartphone manufacture, as they seek to win the mandate, they have concerns about whether Xiaomi can reach the $50 billion mark, much less a $100 billion target that some top executives have embraced, the people said. Xiaomi had earlier raised money in 2014 at a valuation of about $46 billion. Xiaomi, led by Lei Jun, has invested extensively in I...

Trivago Announces Pricing of Shares Under IPO

16Dec By PriyankaNo Comments

News

Trivago Announces Pricing of Shares Under IPO

Trivago, a global hotel search platform, today announced the pricing of its initial public offering of 26,110,118 American depositary shares (ADSs) representing Class A shares of its affiliate, travel B.V.* (the Company) at $11.00 per ADS. The Company is selling 18,110,091 ADSs, and certain shareholders of the Company are selling 8,000,027 ADSs in the offering. The Company and the selling shareholders have granted the underwriters the option to purchase up to an additional 3,916,517 ADSs at the initial public offering price less the underwriting discount. The ADSs are expected to begin trading on The NASDAQ Global Select Market under the ticker symbol "TRVG" on December 16, 2016. The offering is expected to close on December 21, 2016, subject to customary closing conditions. Found...