18-May-2024 (17:23)
Go Digit General Insurance IPO ends with better subscription
The initial public offer (IPO) of Go Digit General Insurance received 50,76,21,455 bids for shares as against 5,28,69,677 shares on offer. The issue was subscribed 9.60 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 12.56 times. The Non Institutional Investors (NIIs) category was subscribed 7.24 times. The Retail Individual Investors (RIIs) category was subscribed 4.27 times.
The issue opened for bidding on 15 May 2024 and closed on 17 May 2024. The price band of the IPO was fixed at Rs 258 to 272 per share.
The offer comprises fresh issue of equity shares up to Rs 1,125 crore and an offer for sale of 547.66 lakh equity shares.
The promoter shareholding in the company will decline to 73.6% post- IPO from 83.3% pre-IPO.
The company proposes to utilize the net proceeds from the fresh issue towards maintenance of solvency ratio by investing in instruments in the manner prescribed under the IRDAI Actuarial & Allied Regulations, 2024.
Ahead of the IPO, Go Digit General Insurance on Tuesday, 14 May 2024, raised Rs 1,176.59 crore from anchor investors. The board allotted 4.32 crore shares at Rs 272 each to 56 anchor investors.
Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. The company, incorporated in December 2016, catered approximately 82.5% or Rs 6,680 crore (9M FY2024) of the GWPs written by digital full stack insurance players including Go Digit, Acko and Navi, making it the largest digital full stack insurance player in India.
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products. The company has designed its underlying business model to minimize dependency on any single line of business.
The firm reported a net profit of Rs 129.02 crore and total income of Rs 130.83 crore for the nine months ended on 31 December 2023.
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16-May-2024 (17:18)
NSE SME IPO of Rulka Electricals subscribed 5.83 times
The initial public offer (IPO) of Rulka Electricals received bids for 49,15,800 shares as against 8,42,400 shares on offer, as per NSE data as of 17:00 hours on Thursday (16 May 2024). The issue was subscribed 5.83 times.
The issue opened for bidding on Thursday (16 May 2024) and it will close on Tuesday (21 May 2024). The price band of the IPO is fixed between Rs 223 to Rs 235 per share. The minimum order quantity is 600 equity shares. The equity shares will list on NSE?s SME platform.
The IPO comprises fresh issue of 8,42,400 equity shares. The promoter and promoter group shareholding will dilute to 69.22% from 86.28% Pre-IPO.
The issue size comprises of fresh issue of 8,42,400 and offer for sale (OFS) of 2,80,800 shares by existing shareholders.
About 56,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 10,66,800 equity shares.
The company intends to utilize the net proceeds to meet working capital requirements of the company, to meet the offer expenses and general corporate purposes.
Ahead of the IPO, Rulka Electricals on Wednesday, 15 May 2024, raised Rs 7.50 crore from anchor investors. The board allotted 3.19 lakh shares at Rs 235 per share to 7 anchor investors.
Rulka Electricals engaged in offering solution for all types of electrical & fire fighting turnkey projects. The company offers wide range of services like electrical solutions, electrical panels, solar epc contracts, turn key electrical warehousing projects, electric commercial industrial services, maintenance services, electrical contracting and data & voice cabling installation across the industrial sector, commercial, retail and theatre sector. As of 29 February 2024, the company has 92 employees.
The company recorded revenue from operations of Rs 65.18 crore and net profit of Rs 5.65 crore for the period as on 29 February 2024.
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16-May-2024 (17:17)
Go Digit General Insurance IPO subscribed 79%
The initial public offer (IPO) of Go Digit General Insurance received 4,17,43,735 bids for shares as against 5,28,69,677 shares on offer, according to stock exchange data at 17:00 IST on Thursday (16 May 2024). The issue was subscribed 0.79 times.
The issue opened for bidding on Wednesday (15 May 2024) and it will close on Friday (17 May 2024). The price band of the IPO is fixed at Rs 258 to 272 per share. An investor can bid for a minimum of 55 equity shares and in multiples thereof.
The offer comprises fresh issue of equity shares up to Rs 1,125 crore and an offer for sale of 547.66 lakh equity shares.
The promoter shareholding in the company will decline to 73.6% post- IPO from 83.3% pre-IPO.
The company proposes to utilize the net proceeds from the fresh issue towards maintenance of solvency ratio by investing in instruments in the manner prescribed under the IRDAI Actuarial & Allied Regulations, 2024.
Ahead of the IPO, Go Digit General Insurance on Tuesday, 14 May 2024, raised Rs 1,176.59 crore from anchor investors. The board allotted 4.32 crore shares at Rs 272 each to 56 anchor investors.
Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. The company, incorporated in December 2016, catered approximately 82.5% or Rs 6,680 crore (9M FY2024) of the GWPs written by digital full stack insurance players including Go Digit, Acko and Navi, making it the largest digital full stack insurance player in India.
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products. The company has designed its underlying business model to minimize dependency on any single line of business.
The firm reported a net profit of Rs 129.02 crore and total income of Rs 130.83 crore for the nine months ended on 31 December 2023.
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15-May-2024 (17:11)
Go Digit General Insurance IPO subscribed 36%
The initial public offer (IPO) of Go Digit General Insurance received 1,88,86,890 bids for shares as against 5,28,69,677 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (15 May 2024). The issue was subscribed 0.36 times.
The issue opened for bidding on Wednesday (15 May 2024) and it will close on Friday (17 May 2024). The price band of the IPO is fixed at Rs 258 to 272 per share. An investor can bid for a minimum of 55 equity shares and in multiples thereof.
The offer comprises fresh issue of equity shares up to Rs 1,125 crore and an offer for sale of 547.66 lakh equity shares.
The promoter shareholding in the company will decline to 73.6% post- IPO from 83.3% pre-IPO.
The company proposes to utilize the net proceeds from the fresh issue towards maintenance of solvency ratio by investing in instruments in the manner prescribed under the IRDAI Actuarial & Allied Regulations, 2024.
Ahead of the IPO, Go Digit General Insurance on Tuesday, 14 May 2024, raised Rs 1,176.59 crore from anchor investors. The board allotted 4.32 crore shares at Rs 272 each to 56 anchor investors.
Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. The company, incorporated in December 2016, catered approximately 82.5% or Rs 6,680 crore (9M FY2024) of the GWPs written by digital full stack insurance players including Go Digit, Acko and Navi, making it the largest digital full stack insurance player in India.
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products. The company has designed its underlying business model to minimize dependency on any single line of business.
The firm reported a net profit of Rs 129.02 crore and total income of Rs 130.83 crore for the nine months ended on 31 December 2023.
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15-May-2024 (17:04)
NSE SME IPO of Quest Laboratories subscribed 79%
The initial public offer (IPO) of Quest Laboratories received bids for 35,55,600 shares as against 44,49,600 shares on offer, as per NSE data as of 17:00 hours on Wednesday (15 May 2024). The issue was subscribed 0.79 times.
The issue opened for bidding on Wednesday (15 May 2024) and it will close on Friday (17 May 2024). The price band of the IPO is fixed between Rs 93 to Rs 97 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on NSE?s SME platform.
The IPO comprises fresh issue of 44,49,600 equity shares. The promoter and promoter group shareholding will dilute to 65.82% from 90.36% Pre-IPO.
About 2,28,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 42,21,600 equity shares. The issue and the net issue will constitute 27.15% and 25.76% respectively of the post offer paid up equity share capital of the company.
The company intends to utilize the net proceeds to meet working capital requirements of the company, for funding of capital expenditure towards purchase of plant and machineries for expansion at the existing manufacturing facility situated at Dhar, Madhya Pradesh and general corporate purposes.
Ahead of the IPO, Quest Laboratories on Tuesday, 14 May 2024, raised Rs 11.98 crore from anchor investors. The board allotted 12.36 lakh shares at Rs 97 per share to 4 anchor investors.
Quest Laboratories engaged in the business of manufacturing of pharmaceutical formulations across a broad spectrum, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more. These formulations fall under the trademark ?Quest Laboratories?. The company produces a variety of products, comprising ethical drugs, generic drugs, and over the-counter drugs (OTC). These products are available in various forms such as tablets, liquid orals, oral dry powders, oral powders (ORS), ointments, and external liquids. As of 31 December 2023, the company has 83 employees.
The company recorded revenue from operations of Rs 62.07 crore and net profit of Rs 7.74 crore for the period as on 31 December 2023.
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13-May-2024 (16:37)
Aadhar Housing Finance IPO ends with blockbuster subscription
The initial public offer (IPO) of Aadhar Housing Finance received 1,78,65,45,247 bids for shares as against 7,00,89,373 shares on offer. The issue was subscribed 25.49 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 72.78 times. The Non Institutional Investors (NIIs) category was subscribed 16.50 times. The Retail Individual Investors (RIIs) category was subscribed 2.46 times.
The issue opened for bidding on 8 May 2024 and closed on 10 May 2024. The price band of the IPO was fixed at Rs 300 to 315 per share.
The offer comprised fresh issue of equity shares worth up to Rs 1,000 crore and an offer for sale of 6.35-6.67 crore equity shares aggregating up to Rs 2,000 crore.
The objectives of the fresh issue include augmenting the capital base to meet future capital requirements. The company expects to receive the benefits of listing the equity shares on the stock exchanges, including to enhance brand image among existing and potential customers and creation of a public market for equity shares in India.
Ahead of the IPO, Aadhar Housing Finance on Tuesday, 7 May 2024, raised Rs 897.89 crore from anchor investors. The board allotted 2.85 crore shares at Rs 315 each to 61 anchor investors.
Aadhar Housing Finance is a housing finance company (HFC) focused on the low-income housing segment with a ticket size of less than Rs 15 lakh. The average ticket size of loans was Rs 10 lakh, with an average loan-to-value of 58.3% end December 2023. The company has an extensive network of 487 branches, including 109 sales offices in 20 states and union territories end December 2023. The reach of the company extended to 10,926 pin codes across India end December 2023.
Aadhar offers a range of mortgage-related loan products, including loans for residential property purchase and construction, home improvement and extension loans, and loans for commercial property construction and acquisition.
The firm reported a net profit of Rs 547.88 crore and total income of Rs 1,895.17 crore for the nine months ended on 31 December 2023.
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11-May-2024 (17:07)
Aadhar Housing Finance IPO ends with decent subscription
The initial public offer (IPO) of Aadhar Housing Finance received 1,78,65,45,247 bids for shares as against 7,00,89,373 shares on offer. The issue was subscribed 25.49 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 72.78 times. The Non Institutional Investors (NIIs) category was subscribed 16.50 times. The Retail Individual Investors (RIIs) category was subscribed 2.46 times.
The issue opened for bidding on 8 May 2024 and it will close on 10 May 2024. The price band of the IPO was fixed at Rs 300 to 315 per share.
The offer comprised fresh issue of equity shares worth up to Rs 1000 crore and an offer for sale of 6.35-6.67 crore equity shares aggregating up to Rs 2,000 crore.
The objectives of the fresh issue include augmenting the capital base to meet future capital requirements. The company expects to receive the benefits of listing the equity shares on the stock exchanges, including to enhance brand image among existing and potential customers and creation of a public market for equity shares in India.
Ahead of the IPO, Aadhar Housing Finance on 7 May 2024, raised Rs 897.89 crore from anchor investors. The board allotted 2.85 crore shares at Rs 315 each to 61 anchor investors.
Aadhar Housing Finance is a housing finance company (HFC) focused on the low-income housing segment with a ticket size of less than Rs 15 lakh. The average ticket size of loans was Rs 10 lakh, with an average loan-to-value of 58.3% end December 2023. The company has an extensive network of 487 branches, including 109 sales offices in 20 states and union territories end December 2023. The reach of the company extended to 10,926 pin codes across India end December 2023.
Aadhar offers a range of mortgage-related loan products, including loans for residential property purchase and construction, home improvement and extension loans, and loans for commercial property construction and acquisition.
The firm reported a net profit of Rs 547.88 crore and total income of Rs 1,895.17 crore for the nine months ended on 31 December 2023.
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11-May-2024 (17:05)
TBO Tek IPO ends with strong subscription
The initial public offer (IPO) of TBO Tek received 80,50,71,440 bids for shares as against 92,85,816 shares on offer. The issue was subscribed 86.70 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 125.51 times. The Non Institutional Investors (NIIs) category was subscribed 50.60 times. The Retail Individual Investors (RIIs) category was subscribed 25.74 times.
The issue opened for bidding on 8 May 2024 and it closed on 10 May 2024. The price band of the IPO was fixed between Rs 875 to Rs 920 per share.
The offer comprised fresh issue of equity shares worth up to Rs 400 crore and an offer for sale of 1,25,08,797 equity shares. The promoter stake, at 51.26%, will dilute post-IPO to 46.8%.
Out of the proceeds from the fresh issue, Rs 135 crore will be used for investment in technology and data solutions, Rs 100 crore towards investment in material subsidiary, Tek Travels DMCC, for on-boarding platform users through marketing and promotional activities, Rs 25 crore towards building sales and marketing infrastructure, Rs 40 crore towards inorganic acquisitions, and the remaining for general corporate purpose.
Ahead of the IPO, TBO Tek on 7 May 2024, raised Rs 696.51 crore from anchor investors. The board allotted 75.70 lakh shares at Rs 920 each to 47 anchor investors.
Established in 2006, TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform that offers travel inventory according to the needs of its customers and supports a wide range of currencies along with forex help.
The company simplifies the travel business for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail companies, and others, as well as for retail customers such as travel agencies and independent travel consultants, and corporate customers such as tour operators, travel management companies, online travel companies, super apps and loyalty apps through our two-sided technology platform that enables suppliers and customers to connect seamlessly.
The firm reported a net profit of Rs 154.18 crore and sales of Rs 1,023.75 crore for the nine months ended on 31 December 2023.
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10-May-2024 (17:40)
Aadhar Housing Finance IPO subscribed 25.49 times
The initial public offer (IPO) of Aadhar Housing Finance received 1,78,64,46,641 bids for shares as against 7,00,89,373 shares on offer, according to stock exchange data at 17:30 IST on Friday (10 May 2024). The issue was subscribed 25.49 times.
The issue opened for bidding on Wednesday (8 May 2024) and it will close on Friday (10 May 2024). The price band of the IPO is fixed at Rs 300 to 315 per share. An investor can bid for a minimum of 47 equity shares and in multiples thereof.
The offer comprises fresh issue of equity shares worth up to Rs 1000 crore and an offer for sale of 6.35-6.67 crore equity shares aggregating up to Rs 2,000 crore.
The objectives of the fresh issue include augmenting the capital base to meet future capital requirements. The company expects to receive the benefits of listing the equity shares on the stock exchanges, including to enhance brand image among existing and potential customers and creation of a public market for equity shares in India.
Ahead of the IPO, Aadhar Housing Finance on Tuesday, 7 May 2024, raised Rs 897.89 crore from anchor investors. The board allotted 2.85 crore shares at Rs 315 each to 61 anchor investors.
Aadhar Housing Finance is a housing finance company (HFC) focused on the low-income housing segment with a ticket size of less than Rs 15 lakh. The average ticket size of loans was Rs 10 lakh, with an average loan-to-value of 58.3% end December 2023. The company has an extensive network of 487 branches, including 109 sales offices in 20 states and union territories end December 2023. The reach of the company extended to 10,926 pin codes across India end December 2023.
Aadhar offers a range of mortgage-related loan products, including loans for residential property purchase and construction, home improvement and extension loans, and loans for commercial property construction and acquisition.
The firm reported a net profit of Rs 547.88 crore and total income of Rs 1,895.17 crore for the nine months ended on 31 December 2023.
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10-May-2024 (17:36)
TBO Tek IPO subscribed 86.59 times
The initial public offer (IPO) of TBO Tek received 80,40,80,976 bids for shares as against 92,85,816 shares on offer, according to stock exchange data at 17:30 IST on Friday (10 May 2024). The issue was subscribed 86.59 times.
The issue opened for bidding on Wednesday (8 May 2024) and it will close on Friday (10 May 2024). The price band of the IPO is fixed between Rs 875 to Rs 920 per share. An investor can bid for a minimum of 16 equity shares and in multiples thereof.
The offer comprises fresh issue of equity shares worth up to Rs 400 crore and an offer for sale of 1,25,08,797 equity shares. The promoter stake, at 51.26%, will dilute post-IPO to 46.8%.
Out of the proceeds from the fresh issue, Rs 135 crore will be used for investment in technology and data solutions, Rs 100 crore towards investment in material subsidiary, Tek Travels DMCC, for on-boarding platform users through marketing and promotional activities, Rs 25 crore towards building sales and marketing infrastructure, Rs 40 crore towards inorganic acquisitions, and the remaining for general corporate purpose.
Ahead of the IPO, TBO Tek on Tuesday, 7 May 2024, raised Rs 696.51 crore from anchor investors. The board allotted 75.70 lakh shares at Rs 920 each to 47 anchor investors.
Established in 2006, TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform that offers travel inventory according to the needs of its customers and supports a wide range of currencies along with forex help.
The company simplifies the travel business for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail companies, and others, as well as for retail customers such as travel agencies and independent travel consultants, and corporate customers such as tour operators, travel management companies, online travel companies, super apps and loyalty apps through our two-sided technology platform that enables suppliers and customers to connect seamlessly.
The firm reported a net profit of Rs 154.18 crore and sales of Rs 1,023.75 crore for the nine months ended on 31 December 2023.
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