Tag: GMP Today

  • Sanathan Textiles IPO Receives 1.53x Subscription On Day 2; Check GMP Today – News18

    Sanathan Textiles IPO Receives 1.53x Subscription On Day 2; Check GMP Today – News18

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    Sanathan Textiles IPO: Unlisted shares of Sanathan Textiles Ltd are trading at Rs 381 in the grey market, reflecting a premium of Rs 60 (18.69%) over the upper price band of Rs 321.

    Sanathan Textiles IPO.

    Sanathan Textiles IPO.

    Sanathan Textiles IPO: The initial public offering of yarn manufacturer Sanathan Textiles Ltd, which opened on Thursday, has so far received a subdued response. The price band of the IPO has been fixed in the range of Rs 305 to Rs 321 per share. Till 5:00 pm on the second day on Friday, the IPO received bids for 1,83,15,682 shares as against the 1,19,93,770 shares on offer, resulting in a subscription rate of 1.53 times.

    So far, the retail category has received a 2.31 times subscription, while the non-institutional category (NII) got a 1.61 times subscription. The QIB category has been subscribed by 1 per cent.

    Sanathan Textiles IPO: Key Dates

    Closing Date: December 23 (Monday)

    Allotment Finalisation: December 24

    Listing on BSE and NSE: December 27 (Friday)

    Sanathan Textiles IPO GMP Today

    As per market observers, the unlisted shares of Sanathan Textiles Ltd are trading at Rs 381 in the grey market, reflecting a premium of Rs 60 (18.69%) over the upper price band of Rs 321. This indicates positive listing gains for investors on December 27.

    The 18.69 per cent GMP is lower than the 21.81 per cent grey market premium recorded in the morning.

    The GMP is subject to sentiments in the market and may change.

    Sanathan Textiles IPO: More Details

    The Rs 550-crore IPO is a combination of a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer For Sale (OFS) of shares valued Rs 150 crore by promoters and promoter group entities.

    Its price band has been fixed at Rs 305 to Rs 321 per share. The minimum lot size for an application is 46. The minimum amount of investment required by retail investors is Rs 14,766. The minimum lot size investment for small NII is 14 lots (644 shares), amounting to Rs 2,06,724, and for big NII, it is 68 lots (3,128 shares), amounting to Rs 10,04,088.

    The company has mobilised Rs 165 crore from anchor investors ahead of its initial share-sale opening for public subscription. SBI Mutual Fund (MF), Nippon India MF, HDFC MF, Kotak MF, Bandhan MF, SBI General Insurance Company, Societe Generale, and PineBridge Global Funds, are among the anchor investors, according to a circular uploaded on the BSE website.

    As per the circular, Sanathan Textiles has allotted 51.4 lakh shares to 20 funds at Rs 321 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 165 crore.

    The company plans to utilise the proceeds from its fresh issue worth Rs 160 crore for payment of debt, Rs 140 crore will be invested in its subsidiary, Sanathan Polycot Pvt Ltd, for the repayment or prepayment of its borrowings, and the remaining amount will be allocated for general corporate purposes.

    Sanathan Textiles operates three distinct yarn business divisions — polyester yarns, cotton yarns, and yarns — for technical textiles and industrial applications. These divisions are managed under a single corporate entity.

    Half of the issue has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

    Further, investors can bid for a minimum of 46 equity shares and in multiples of 46 equity shares thereafter.

    Dam Capital Advisors and ICICI Securities are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and the NSE.

    News business » ipo Sanathan Textiles IPO Receives 1.53x Subscription On Day 2; Check GMP Today

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  • Concord Enviro IPO Receives 0.59x Subscription Status On Day 1, Retail Portion Fully Subscribed; Check GMP Today – News18

    Concord Enviro IPO Receives 0.59x Subscription Status On Day 1, Retail Portion Fully Subscribed; Check GMP Today – News18

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    Concord Enviro IPO: Unlisted shares of Concord Enviro Ltd are trading at Rs 771 in the grey market, reflecting a GMP of 9.99%, indicating a positive listing gain for investors on December 27.

    Concord Enviro IPO.

    Concord Enviro IPO.

    Concord Enviro IPO: The initial public offering of environmental engineering solutions firm Concord Enviro Systems Ltd opened for public subscription on Thursday. The price band of the IPO has been fixed in the range of Rs 665 to Rs 701 per share. Till 4:49 pm on the first day on Thursday, the IPO received a 0.59 times subscription garnering bids for 29,38,971 shares as against the 50,15,356 shares on offer.

    So far, the retail category has received a 1 times subscription, while the non-institutional category (NII) got a 0.35 times subscription.

    Concord Enviro IPO: Key Dates

    Closing Date: December 23 (Monday)

    Allotment Finalisation: December 24

    Listing on BSE and NSE: December 27 (Friday)

    Concord Enviro IPO GMP Today

    As per market observers, the unlisted shares of Concord Enviro Ltd are trading at Rs 771 in the grey market, reflecting a premium of Rs 70 (9.99%) over the upper price band of Rs 701. This indicates a positive listing gain for investors on December 27.

    The 9.99 per cent GMP is significantly higher than the zero grey market premium recorded on Tuesday.

    The GMP is subject to sentiments in the market and may change.

    Concord Enviro IPO: More Details

    The IPO comprises a fresh issuance of equity shares worth Rs 175 crore and an Offer-for-Sale (OFS) of 46.41 lakh equity shares valued at Rs 325.33 crore, at the upper-end of the price band, by promoters and an investor.

    This aggregates the issue size to Rs 500.33 crore. Those selling shares in the OFS are, promoters — Prayas Goel and Prerak Goel, promoter groups — Namrata Goel, Nidhi Goel and Pushpa Goel — and investor AF Holdings.

    Its price band has been fixed at Rs 665 to Rs 701 per share. The minimum lot size for an application is 21. The minimum amount of investment required by retail investors is Rs 14,721. The minimum lot size investment for small NII is 14 lots (294 shares), amounting to Rs 2,06,094, and for big NII, it is 68 lots (1,428 shares), amounting to Rs 10,01,028.

    Concord Enviro Systems has raised Rs 150 crore from anchor investors.

    Proceeds from the fresh issue will be invested in Concord Enviro FZE (CEF) for setting up a new assembly unit for water treatment systems as well as its working capital requirement.

    Additionally, funds will be invested in Rochem Separation Systems (India) Private Ltd to expand its manufacturing facilities and support activities, payment of debt, technology and growth initiatives, working capital requirements and for general corporate purposes.

    At the upper-end of the price band, the company’s market capitalisation has been pegged at Rs 1,450 crore. Half of the issue has been reserved for qualified institutional buyers, 35 for retail investors and the remaining 15 per cent for non-institutional investors.

    Concord Enviro Systems is an integrated solutions provider for industrial waste water reuse and zero liquid discharge solutions, with an in-house position across the value chain. The company’s reach extends to diverse regions with exports to countries in North America, Latin America, Africa, the Middle East, and Southeast Asia.

    Motilal Oswal Investment Advisors and Equirus Capital are the book running lead managers to the issue. The equity shares of the company are expected to be listed on December 27 on the NSE and BSE.

    News business » ipo Concord Enviro IPO Receives 0.59x Subscription Status On Day 1, Retail Portion Fully Subscribed; Check GMP Today

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  • Deepak Builders and Engineers IPO Receives 29.91x Subscription on Day 3 So Far, Check GMP Today – News18

    Deepak Builders and Engineers IPO Receives 29.91x Subscription on Day 3 So Far, Check GMP Today – News18

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    Deepak Builders and Engineers IPO: The initial public offering of construction company Deepak Builders and Engineers Ltd is going to be closed on Wednesday, October 23. Till 2:15 pm on the final day of bidding, the Rs 260-crore IPO received an 29.91 subscription garnering 26,81,73,019 shares against 89,67,061 shares on offer. The grey market activity also indicates a robust 30% gain for investors.

    Its retail quota has been subscribed by 31.47 times so far, while its non-institutional investor (NII) category received a 60.96 times subscription. The QIB category has been subscribed by 3.89 times.

    The Rs 260-crore IPO was fully subscribed within just one and a half hour of bidding.

    Deepak Builders and Engineers IPO: Key Dates

    The Deepak Builders and Engineers IPO will remain opened for public subscription between October 21 and October 23. The share allotment of the Deepak Builders and Engineers IPO will likely be finalised on October 24, while its shares will be listed on both BSE and NSE on October 28.

    Deepak Builders and Engineers IPO: Price Band and Lot Size

    The price band of the Rs 260.04-crore IPO has been fixed at Rs 192 to Rs 203 per share for the public issue.

    Investors can bid for 73 shares in one lot and in multiples thereoff.

    Deepak Builders and Engineers IPO: GMP Today

    According to market observers, unlisted shares of Deepak Builders and Engineers Ltd are trading just Rs 61 higher in the grey market than its issue price. The Rs 61 grey market premium or GMP means the grey market is expecting a 30.05 per cent listing gain from the public issue.

    The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

    Deepak Builders and Engineers IPO: Analysts’ Recommendations

    Brokerages have given their ‘subscribe’ rating to the IPO. However, they also remain cautious of some risks.

    Giving a ‘subscribe for long-term investment’ rating, brokerage firm Swastika Investmart said Deepak Builders is a growing engineering and construction company in northern India, with consistent growth in revenue and profitability. However, geographical concentration, high competition, and government dependence could pose risks.

    The brokerage firm has recommended the IPO for long-term investors seeking exposure to the Indian construction sector, with careful due diligence.

    Another brokerage firm BP Wealth in its IPO note also recommended to ‘subscribe for medium to long term’.

    BP Wealth said Deepak Builders is well-positioned for future expansion with a proven track record of 76 completed projects and Class I (Super) Contractor accreditation.

    “The current issue is priced at a P/E of 12.1x on the upper band based on FY24 earnings and is relatively lower than peers,” it said.

    Deepak Builders and Engineers: More Details

    The IPO is a combination of fresh issue of 1.07 crore shares aggregating to Rs 217.21 crore and an offer for sale of 0.21 crore shares aggregating to Rs 42.83 crore.

    Deepak Builders & Engineers India Limited, which was incorporated in September 2017, is a construction company specialising in administrative, institutional, and industrial buildings, hospitals, stadiums, residential complexes, and other construction activities.

    The company has completed turnkey projects encompassing architectural, structural, civil, MEP, firefighting systems, public health services, IT systems, operation theaters, medical gas pipelines, and landscaping.

    Its revenue rose 19 per cent to Rs 516.74 crore and net profit increased by 182 per cent to Rs 60.41 crore in the financial year 2023-24.

    Fedex Securities Pvt Ltd is the book running lead manager of the Deepak Builders & Engineers IPO, while Kfin Technologies Limited is the registrar for the issue.

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