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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...

7May By Lavina TolaniNo Comments

Market

How IPO’s from Last Six Months Performed in Indian Stock Market

The Stock Market is one dynamic landscape where one can never be sure of what might take shape the very next moment. Last few months have witnessed a large number of IPO's getting SEBI's approval for public listing. But, how have they performed? Surprisingly, more than half of the listed Initial Public Offerings (IPO) stocks in last six months are trading below their issue price indicating that long-term capital chase in primary offers has not been put to good use. Out of 13 long-term IPOs since December 2017, seven of them have investors sitting with losses upto 29%. Investment bankers and Institutional investors believe that there have been many cases where rich valuations were sought in the IPO by promoters citing previous examples. Moreover, the topsy-turvy secondary market to ha...

Delhi-based E2E Networks’ IPO crosses one-third mark on First Day

5May By Lavina TolaniNo Comments

Market

Delhi-based E2E Networks’ IPO crosses one-third mark on First Day

Delhi-based Cloud Service Provider, E2E Networks Ltd. which is backed by Blume Venture Advisors witnessed its initial public offering cross the one-third mark on its first day itself. Post the IPO listing, the company is looking forward to entering on National Stock Exchange’s Emerge platform for small and medium enterprises. According to stock exchange data, the IPO received bids for 1.47 million shares against 3.86 million shares on offer. The book which currently does not have an anchor allotment saw 38% subscription at the end of the first day. Holani Consultants Pvt. Ltd, the merchant banker managing the IPO informed that about half of the IPO was reserved under non-institutional category comprising of wealthy individuals and corporate bodies. E2E is promoted by Tarun Dua and...

Jeff Bezos backed Cancer Startup to Raise $1 Billion Ahead of IPO

19Apr By Lavina TolaniNo Comments

FUNDING

Jeff Bezos backed Cancer Startup to Raise $1 Billion Ahead of IPO

Grail Inc, the cancer-detection startup backed by two world's wealthiest men is planning to raise $1 billion to push growth much ahead of its Initial Public Offering in Hong Kong. The very first product that will focus on screening test for nasopharyngeal cancer will be launched this year informed Grail Incorporation.Nasopharyngeal cancer is a type of cancer prevalent in Southeast Asia and southern China The company which is backed by Amazon Incorporation founder Jeff Bezos and Microsoft co-founder Bill Gates is working on advisers on the new round that is ongoing a preliminary phase and might change in timings and date, said two people involved with the matter. Charlotte Arnold, a spokeswoman for Menlo Park at Grail said that the company doesn’t comment on market speculation or i...

Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn

11Apr By Lavina TolaniNo Comments

Market

Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn

Chinese billionaire Jack Ma's financial firm is all set to make it to the world's biggest companies. Alibaba Group Holding Ltd's derivate company, Ants Financial Group is preparing to raise $9 billion which is much above its expected IPO in a private funding round as per the sources. Being no stranger to funding, the company picked $4.5 billion Series B round in April 2016. Moreover, it has also made in some strategic acquisitions and investments to pave a way for greater financial benefits for itself. It has already acquired HelloPay and has made investments into Korea's Kakao Pay in February 2017. Company's recent attempt to acquire Moneygram early this year was knocked down by U.S government over security concerns.It's expected IPO valuation and newly earned revenue can give a muc...

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. ...

27Mar By AnkitaNo Comments

Market

Bandhan Bank Shares Up 33% on Market Debut

India's Bandhan Bank surging 33 percent against the issue price of Rs 375 on the first day of its debut. At the end of the day, the stock listed at Rs 477 on BSE and 476 on NSE. The stock has a sharp gain of 29.33 and 33 percent from the issue price on BSE & NSE. The Kolkata based company has a market valuation of Rs 56,914.69 crore. The IPO of Bandhan bank was subscribed 14.62 times during its listings. The fixed price of the company share was Rs 370 to 375 during the listing. The issue opened on March 15 and continued till March 19. Goldman Sachs (India) Securities, JM Financial and JP Morgan India, Kotak Mahindra Capital Company and others managed the issue. The bank proposed to raise Rs 4500 crore from the IPO. The network of the bank has grown to 864 bank branches a...

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 ...

Bandhan Bank IPO Subscribed Over 42% on Day 1

16Mar By AdityaNo Comments

Market

Bandhan Bank IPO Subscribed Over 42% on Day 1

New Delhi: Bandhan Bank Ltd, an Indian banking, and financial services company headquartered in Kolkata received 42% initial public offering (IPO) subscription on the first day of bidding. On Wednesday, Kolkata-based Bandhan Bank raised Rs 1,342 crore from anchor investors and is looking to raise a total amount of Rs 4,473 crore from the public issue of its shares. The portion of shares reserved for institutional investors in the Bandhan Bank IPO was subscribed 1.26 times, while those for retail investors and high net-worth individuals (HNIs) saw a subscription of 12% and 1%, respectively. The Bandhan Bank IPO received bids for 35,005,200 shares against the total issue size of 83,496,347 shares, NSE data showed. The Bandhan Bank IPO is of up to 119,280,494 shares comprising fre...

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 ...

Bharat Dynamics Subscribed 32 Percent on First Day of Bidding

14Mar By AnkitaNo Comments

Market

Bharat Dynamics Subscribed 32 Percent on First Day of Bidding

The initial public offer of Indian govt led defence organisation Bharat Dynamics has subscribed 32 percent on the first day of bidding. The IPO to raise Rs 960 crore received bids for 72,49,970 shares against the total issue size of 2,24,51,953 shares, data available with the NSE till 1700 hrs showed. The portion reserved for qualified institutional buyers (QIBs) was subscribed 50 percent, non-institutional investors 2 percent and retail investors 21 percent. The IPO is of 22,451,953 equity shares and bidding for the same would close on March 15.The price band has been fixed at Rs 413-428. SBI Capital Markets, IDBI Capital Markets & Securities, and YES Securities are the book running lead managers to the offer. Hyderabad based Bharat Dynamics Limited is India's one of th...