&w=3840&q=100)
Swastika Castal IPO sees high demand on Day 1; check subscription data, GMP
The public offering has received bids for 23,62,000 equity shares against 21,62,001 shares on offer, resulting in an oversubscription of 1.09 times till 2:25 PM on Monday, July 21, according to data from the BSE.
Swastika Castal IPO issue size, price band
The ₹14.07 crore public issue consists entirely of a fresh issue of 2.16 million equity shares. The public issue is being offered at ₹65 per share, with a lot size of 2,000 shares. A retail investor can bid for a minimum of 2 lots (4,000 shares) and in multiples of 2,000 shares thereafter, with a minimum investment of ₹2,60,000.
Swastika Castal IPO grey market premium (GMP) today
In the grey market, the company's unlisted shares were trading flat around ₹65 per share, the same as the IPO price, according to sources tracking grey market activities. Thus, the grey market premium (GMP) of Swastika Castal IPO remains nil on Monday.
Swastika Castal IPO objective
According to the company's Red Herring Prospectus, the funds raised through the IPO will be used for capital expenditure for acquisition of plant & machinery and construction of shed & building. The company will also use the proceeds for general corporate purposes.
Swastika Castal IPO allotment date, listing date
The three-day subscription window will close on July 23. The basis of share allotment is expected to be finalised on July 24, with shares credited to successful applicants' demat accounts on July 25.
Swastika Castal shares are scheduled to list on the BSE SME platform on July 28, 2025.
Swastika Castal IPO registrar, lead manager
Accurate Securities & Registry is acting as the registrar to the issue, while Horizon Management is serving as the sole book-running lead manager.
About Swastika Castal
Established in 1996, Swastika commenced operations with the objective of aluminum casting by setting up a foundry, which was a very unique concept at that time. Presently, the company has advanced machining, inspection, and testing facilities in India, backed by an efficient team of metallurgists and professionals. The company now supplies castings as original equipment (ready-to-use components) to reputed companies in India and also exports to parts of Europe and the USA.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
20 minutes ago
- Mint
Brigade Hotel Ventures IPO day 3 Live: GMP, review to subscription status. Apply or not?
Brigade Hotel Ventures IPO opened for subscription on July 24 and will end on July 28. The IPO received a healthy response from investors as the issue was subscribed over 1.18 times on the second day of bidding, led by strong demand from retail and non-institutional investors. On the second day, the retail portion was subscribed 4.61 times, while the non-institutional investor (NII) segment recorded a 97% subscription. Meanwhile, the qualified institutional buyers (QIB) category saw bids for 8% of its allotted quota. On the third day of bidding, Brigade Hotel Ventures IPO has been subscribed over 1.35 times, as of 10:42 am. The retail portion has been subscribed over 5.22 times, meanwhile NII and QIB have received 1.14 times and 0.08 times subscription. The IPO has received 6,92,58,852 applications, as compared to offered 5,11,93,987 shares. The GMP of Brigade Hotel Ventures IPO has fallen to ₹ 1.5 on Monday, July 28 from ₹ 2 on a day before, as per investorgain. This means that the shares of Brigade Hotel Ventures IPO is trading at a premium of ₹ 1.5 in the grey market. Brigade Hotel Ventures plans to raise ₹ 759.60 crore through its IPO, consisting entirely of a fresh issue of 8.44 crore equity shares. The IPO has a lot size of 166 shares, with a minimum investment requirement of ₹ 14,940 for retail investors. The price band for the offer is set between ₹ 85 and ₹ 90 per share. The allotment is expected to be finalized on Tuesday, July 29, 2025, and the shares are likely to be listed on both the NSE and BSE on Thursday, July 31. JM Financial Limited is serving as the book-running lead manager, while Kfin Technologies Limited is appointed as the registrar for the issue. The company intends to use the IPO proceeds to repay or prepay, either fully or partially, certain borrowings of both the company and its key subsidiary, SRP Prosperita Hotel Ventures Limited. Additionally, the funds will go towards purchasing an undivided share of land from the promoter, supporting inorganic growth through potential acquisitions and strategic initiatives, and for general corporate purposes. Brokerage firm Ventura said that combining brand-driven hospitality with real estate development expertise from its parent BEL, Brigade Hotel Ventures is positioning itself to capture demand in India's growing premium and business hotel segments, while strengthening its balance sheet and operational footprint through this IPO. We recommend 'Subscribe' to Brigade Hotel Ventures Ltd. Meanwhile, brokerage SBI Securities, while giving 'subscribe for long-term' said that the company has a strong financial growth track record of 15.6%/30.0%/73.2% CAGR in Revenue/EBITDA/PAT over FY23-25 respectively. However, the company has a negative Reserves & Surplus of ₹ 196 cr as of Mar'25 due to accumulated losses in the past. Out of the total IPO proceeds of ₹ 760 cr, BHVL will utilize ~ ₹ 468 cr towards debt repayment which will lead to reduction in D/E to below 1.0x from 7.1x currently and improvement in profitability as interest cost saving of ~ ₹ 45 cr will flow through the P&L. Going forward, trends in occupancy levels and ARR of the company will be key monitorable Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
20 minutes ago
- Mint
THIS small-cap power stock hits 10% upper circuit in a weak market; do you own?
Small-cap power stock ACME Solar Holdings hit its 10 per cent upper circuit in intraday trade on the BSE on Monday, July 28, in an otherwise weak market. ACME Solar Holdings share price opened at ₹ 286.65 against its previous close of ₹ 270.25 and surged 10 per cent to hit its upper circuit at ₹ 297.25. Around 10:45 AM, the small-cap stock traded 9.58 per cent higher at ₹ 296.15. Equity benchmark Sensex was 12 points down at 81,451 at that time. (This is a developing story. Please check back for fresh updates.)
Mint
20 minutes ago
- Mint
Poonawalla Fincorp share price rises 6% despite sell-off in Indian stock market; here's why
Poonawalla Fincorp share price jumped over 6% on Monday led by heavy buying momentum, despite broader weakness in the Indian stock market. Poonawalla Fincorp shares rallied as much as 6.59% to ₹ 440.75 apiece on the BSE. Around 40 lakh equity shares of Poonawalla Fincorp changed hands on stock exchanges, significantly higher than their one week average trading volumes of 19 lakh shares. The rally in Poonawalla Fincorp share price comes after the financial services company approved raising ₹ 1,500 crore from its promoter and aims for over 40% growth in its asset book, led by expansion in products portfolio including gold loans. The board of directors of Poonawalla Fincorp, on July 25, approved raising of funds up to ₹ 1,500 crore from promoter Adar Poonawalla's Rising Sun Holdings by issuing and allotting of 3.31 crore fully paid-up equity shares at an issue price of ₹ 452.51 per equity share by way of preferential allotment and private placement basis. The equity infusion has increased Poonawalla Fincorp's net worth to ₹ 9,700 crore. 'The said capital raise is a strategic move not only strengthens the company's financial position but also reinforces the promoter's confidence in the Company's long-term potential. The Company is well positioned to continue its growth trajectory, deliver value to its stakeholders and achieve its ambitious objectives in the competitive NBFC landscape,' Additionally, Poonawalla Fincorp is targeting above 40% growth in its asset book on the back of expansion in products portfolio including gold loans. 'We have given Asset Under Management growth guidance of 35-40% this year. We hope to exceed our target as new product lines are gaining good traction,' Poonawalla Fincorp MD and CEO Arvind Kapil told PTI. The non-deposit-taking NBFC, Poonawalla Fincorp, reported a net profit of ₹ 63 crore in the first quarter of FY26, a steep fall of 78.5% from ₹ 292 crore in the year-ago period, impacted by one-time expenses and prior provisioning. However, profit remained flat on a sequential basis. The company's net interest income (NII) in Q1FY26 increased to ₹ 639 crore from ₹ 576 crore, year-on-year (YoY). Poonawalla Fincorp registered a 53% robust growth on an annual basis in AUM at ₹ 41,273 crore at the end of first quarter ended June 30, 2025. In Q1FY26, the company had taken a one-time accelerated provision of ₹ 666 crore on the erstwhile STPL book, which also improved its provision coverage ratio (PCR) to 53.93%, up from 52.53% a year earlier. 'With credit cost significantly reducing on an overall basis by 53 bps QoQ, a risk-calibrated AUM increase of 15.8% QoQ, and ~Rs.1,500 cr capital infusion on preferential basis by the promoter, strengthens the company and supports its growth plans. Poonawalla Fincorp is well-poised for building a risk-first, sustainable, and profitable model,' said Arvind Kapil, Managing Director and CEO, Poonawalla Fincorp. Poonawalla Fincorp share price has fallen 3% in one month, but the NBFC stock has rallied 14% in three months and 42% in six months. The stock is up 40% on a year-to-date (YTD) basis, while it has gained 16% in one year. Poonawalla Fincorp share price has delivered multibagger returns of 1607% over the past five years. At 10:35 AM, Poonawalla Fincorp share price was trading 5.94% higher at ₹ 438.05 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
