initial public offering Archives

Swiggy submits revised IPO draft papers to Sebi, aims…

26 September 2024
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NEW DELHI: Swiggy on Thursday submitted its revised draft papers to market regulator Sebi for its highly anticipated initial public offering (IPO), which includes a fresh issue of equity shares amounting to Rs 3,750 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders, as mentioned in the updated draft red herring prospectus (UDRHP).
Industry sources estimate that the food and grocery platform’s IPO size will exceed Rs 10,000 crore with the offer-for-sale component reaching up to Rs 6,664 crore.
The existing shareholders participating in the OFS include Accel India IV (Mauritius) Ltd, Apoletto Asia Ltd, Alpha Wave Ventures, LP, Coatue PE Asia XI LLC, DST EuroAsia V BV, Elevation Capital V Ltd, Inspired Elite Investments Ltd, MIH India Food Holdings BV, Norwest Venture Partners VII-A Mauritius, and Tencent Cloud Europe BV.
Additionally, the Bengaluru-based company is exploring the possibility of raising funds through a pre-IPO round. If successful, the size of the fresh issue will be adjusted accordingly.
According to the IPO documents, Rs 137.41 crore from the fresh issue will be utilized to repay the debt of Swiggy’s subsidiary, Scootsy.
Furthermore, Swiggy will invest Rs 982.40 crore in Scootsy to expand the Dark Store network in the quick commerce segment, Out of which Rs 559.10 crore will be allocated for setting up Dark Stores and Rs 423.30 crore for lease or license payments.
The company also plans to allocate Rs 586.20 crore for technology and cloud infrastructure enhancements, Rs 929.50 crore for brand marketing and business promotion initiatives, and additional funds for inorganic growth opportunities and general corporate purposes.
The updated draft filing follows the approval of Swiggy’s confidential offer document by the market regulator earlier this week which it submitted on April 30 through the confidential pre-filing route.
Under the confidential filing process, Sebi reviews the confidential DRHP and provides feedback. Later, the company is required to file an update to the confidential DRHP (UDRHP-I), incorporating the regulator’s comments which is then made available for public comments for a period of 21 days.
Lastly, after addressing the changes resulting from public comments, the company is required to update the DRHP-II (UDRHP-II).
Established in 2014, Swiggy’s valuation reached nearly $13 billion in April, according to Tracxn, a global startup data platform. The company’s annual revenue amounted to $1.09 billion as of March 31, 2023, and it currently employs more than 4,700 individuals.

Science & Environment

KRN Heat Exchanger IPO subscribed 58.14 times on second…

26 September 2024
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NEW DELHI: The initial public offering (IPO) of KRN Heat Exchanger and Refrigeration Ltd received a strong response on the second day of the share sale, with the issue being subscribed 58.14 times on Thursday.
The IPO received bids for 63,91,84,780 shares against the total offer of 1,09,93,000 shares, according to data from the National Stock Exchange.
The non-institutional investors’ category is subscibed 135.82 times as it witnessed the highest demand while Retail Individual Investors (RIIs) category was subscribed 55.50 times.Meanwhile, the Qualified Institutional Buyers (QIBs) category was subscribed 3.16 times.
The Rs 342-crore IPO, with a price band of Rs 209-220 per share, consists of a fresh issue of 1,55,43,000 equity shares. The company plans to utilize Rs 242.5 crore for investment in its wholly-owned subsidiary, KRN HVAC Products, to set up a new manufacturing facility in Neemrana, Alwar, Rajasthan. The remaining funds will be used for general corporate purposes.
The IPO was fully subscribed within minutes of opening on the first day and closed with a subscription of 23.73 times. Prior to the public offering, the company had raised Rs 100 crore from anchor investors on Tuesday.
KRN Heat Exchanger and Refrigeration Ltd, based in Rajasthan, specializes in the production of fin and tube-type heat exchangers for the heat ventilation air conditioning and refrigeration industry. The company’s entire manufacturing operations are conducted at its consolidated facility, which comprises two industrial plots located in the RIICO Industrial Area, Neemrana, Rajasthan.
Holani Consultants is acting as the sole book-running lead manager for the company’s public issue.

Science & Environment

Rare Tale Of A Farmers Son Who Is Bringing…

24 September 2024
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New Delhi: You’ve probably seen many initial public offerings (IPOs) debut on stock markets, but KRN Heat Exchangers’ public offering is one of the rare tales of a farmer’s son trying his luck for stock market success. The IPO chronicles the rise of Santosh Kumar Yadav, a small-town resident of Tijara, Rajasthan, who is the son of a farmer, to become the CEO of a significant manufacturing company and make his debut on the stock exchange.

September 25, 2024, is the scheduled opening date for the KRN Heat Exchanger issue. The price range for the planned IPO is Rs 209–220 per share. The company intends to raise Rs 342 crore through the IPO.

KRN Heat Exchanger IPO: Early Life and Career Of Santosh Kumar Yadav

Santosh Kumar Yadav is a resident of the Rajasthani village of Tijara. His father is a farmer. Yadav and his family serve as an excellent example of how perseverance and hard work can propel one up the success ladder. Yadav started off at Lloyd Electric and Engineering as a trainee operator. In 2013, Yadav quit the company to pursue his dream of being a successful businessman. He then partnered with an investor to co-found Micro Coils and Refrigeration in Bhiwadi, Rajasthan. In an attempt to expand even further, he sold his interest in that business in 2017 and started KRN Heat Exchangers and Refrigeration.

KRN Heat Exchanger: Yadav grows his company to generate Rs 308.28 crore in revenue

The company specializes in producing goods for the HVAC (Heating, Ventilation, Air Conditioning, and Refrigeration) industry. The business has expanded greatly. Having commenced production in 2018, the company currently serves clients in 17 states throughout India and exports to nine nations, including the US, Canada, Italy, and Germany. For FY24, the company had consolidated revenue of Rs 308.28 crore.

Details Of KRN Heat Exchanger and Refrigeration Ltd’s Rs 342 Crore IPO

KRN Heat Exchanger and Refrigeration Ltd’s Rs 342 Crore initial public offering (IPO) will open on September 25. The company has announced a price band of Rs 209 to Rs 220 per share for its Rs 342-crore IPO with the proceeds to drive the company’s expansion plans.

KRN Heat Exchanger and Refrigeration IPO Opening/Closing Dates

The Rajasthan-based company’s initial share-sale will open for public subscription on September 25 and conclude on September 27. Brokerage houses have pegged the company’s market capitalisation to over Rs 1,300 crore post-issue.

KRN Heat Exchanger and Refrigeration IPO Bidding

KRN Heat Exchanger’s proposed IPO involves a fresh issue of 1,55,43,000 equity shares valued at Rs 342 crore at the upper-end of the price band, the company said in a statement.

Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 65 equity shares and in multiples of 65 equity shares thereafter.

KRN Heat Exchanger and Refrigeration IPO Listing Dates

Holani Consultants is the sole book-running lead manager to the company’s maiden public issue. Shares of the companies are expected to be listed on the exchanges on October 3.

Science & Environment

IPOs Worth Over Rs 1,300 Crore To Hit Market…

1 September 2024
by admin

The primary market has been witnessing increased activity with a large number of blockbuster public offerings recently hitting the market. Now, IPOs worth Rs 1,301.32 crore are set to witness bidding in the coming week, including one mainboard IPO and five SME IPOs.

The mainboard IPO is the Gala Precision Engineering IPO, which will open on Monday, September 2.

Here’s a list of the upcoming IPOs available for subscription next week:

Gala Precision Engineering IPO

The Gala Precision Engineering IPO will be open for subscription from September 2 to September 4. The issue is a book-built offering with a total size of ₹167.93 crore. This includes a fresh issue of 0.26 crore shares amounting to ₹135.34 crore and an offer for sale of 0.06 crore shares worth ₹32.59 crore.

Jeyyam Global Foods IPO

Jeyyam Global Foods will open its IPO for subscription from September 2 to September 4. This SME IPO is also a book-built issue, with a total size of ₹81.94 crore. It includes a fresh issue of 120.89 lakh shares, amounting to ₹73.74 crore, and an offer for sale of 13.43 lakh shares, valued at ₹8.19 crore. The price range for this IPO has been set at ₹59 to ₹61 per share. Corpwis Advisors Private Limited is the book-running lead manager, with Kfin Technologies Limited as the registrar, and Nnm Securities serving as the market maker.

Naturewings Holidays IPO

The Naturewings Holidays IPO will be available for subscription from September 3 to September 5. This is a fixed price issue totalling ₹7.03 crore, consisting of a fresh issue of 9.5 lakh shares. The shares are priced at ₹74 each. The IPO is managed by Fedex Securities Pvt Ltd, with Bigshare Services Pvt Ltd as the registrar and Pure Broking as the market maker.

Namo eWaste Management IPO

Namo eWaste Management will open its IPO for subscription from September 4 to September 6. This book-built issue is valued at ₹51.20 crore, consisting entirely of a fresh issue of 60.24 lakh shares. The price band for this IPO is set between ₹80 and ₹85 per share. Hem Securities Limited is the book-running lead manager, with Maashitla Securities Private Limited as the registrar, and Hem Finlease serving as the market maker.

Mach Conferences and Events IPO

The Mach Conferences and Events IPO will open for subscription on September 4 and close on September 6, 2024. This book-built issue is valued at ₹125.28 crore and includes a fresh issue of 22.29 lakh shares worth ₹50.15 crore, along with an offer for sale of 33.39 lakh shares totalling ₹75.13 crore. The price band is set between ₹214 and ₹225 per share. Beeline Capital Advisors Pvt Ltd is the book-running lead manager, while Skyline Financial Services Private Ltd serves as the registrar, and Spread X Securities is the market maker.

My Mudra Fincorp IPO

My Mudra Fincorp’s IPO will be open for subscription from September 5 to September 9. This book-built issue is valued at ₹33.26 crore and consists of a fresh issue of 30.24 lakh shares. The price band is set between ₹104 and ₹110 per share. Hem Securities Limited is the book-running lead manager, with Skyline Financial Services Private Ltd as the registrar, and Hem Finlease as the market maker for this IPO.

Apart from this, there is an ongoing IPO ‘Baazar Style Retail IPO’ which will see the second day of bidding on Monday.

The Baazar Style Retail IPO is priced between ₹370 and ₹389 per share. The offering is managed by Axis Capital Limited, Intensive Fiscal Services Private Limited, and JM Financial Limited as the book-running lead managers, while Link Intime India Private Ltd is handling the registrar duties.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi…Read More

Tag: <span>initial public offering</span>

Swiggy submits revised IPO draft papers to Sebi, aims…

KRN Heat Exchanger IPO subscribed 58.14 times on second…

Rare Tale Of A Farmers Son Who Is Bringing…

IPOs Worth Over Rs 1,300 Crore To Hit Market…