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Economic Times
a day ago
- Business
- Economic Times
Monarch Surveyors IPO opens for subscription amid strong investor buzz; GMP at 64%
Monarch Surveyors and Engineering Consultants opened its Rs 94 crore IPO for subscription today, drawing strong investor attention with a grey market premium (GMP) of 64%. The IPO, which is entirely a fresh issue of 37.5 lakh equity shares, is priced in the band of Rs 237 to Rs 250 per share. ADVERTISEMENT The issue will close on July 24, with allotment expected on July 25 and listing scheduled for July 29 on the BSE SME platform. At the retail end, investors must apply for at least 1,200 shares (two lots), translating to a minimum investment of Rs 2.84 lakh. The IPO is being managed by Beeline Capital Advisors, with Bigshare Services acting as registrar. Spread X Securities is the market in Mumbai, Monarch Surveyors provides end-to-end civil engineering consultancy services across the infrastructure landscape — including roads, railways, ports, oil & gas, and urban transit offerings span surveying and mapping, geotechnical investigations, GIS-based land planning, engineering design, project reports, and bid process management. ADVERTISEMENT The company prides itself on precision, technical depth, and optimal resource utilisation — strengths that have helped it build a wide client base and execute high-stakes projects Surveyors has seen consistent financial growth, with revenue rising 10% year-on-year to Rs 155.66 crore in FY25, while profit after tax surged 16% to Rs 34.83 crore. ADVERTISEMENT The IPO proceeds are aimed at scaling operations. About Rs 32 crore will be used to fund capital expenditure for new machinery, Rs 30 crore for working capital needs, and the rest towards general corporate the grey market premium running at 64% over the upper band, the IPO has already generated strong investor appetite. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)

Economic Times
28-05-2025
- Business
- Economic Times
Neptune Petrochemicals IPO sails through on Day 1. Check details
The initial public offering of Neptune Petrochemicals, which opened for subscription on Wednesday, was subscribed by 1.06 times at the end of the first day of the bidding process. ADVERTISEMENT The non-institutional investors (NIIs) had made 322 applications for a total of 17.53 lakh shares, while the qualified institutional buyers (QIBs) had applied for 27.76 lakh shares via 4 applications. The issue will remain open until May 30 and the company plans to raise Rs 73.20 crore through a fresh issue of 60 lakh shares. Ahead of the issue opening, there is no GMP in the unlisted market. Beeline Capital Advisors is managing the issue as the book-running lead manager, and MUFG Intime India (Link Intime) is the IPO is being offered in a price band of Rs 115 to Rs 122 per share. The shares will be listed on the NSE SME platform with a tentative listing date set for June investors can apply for a minimum of 1,000 shares, which amounts to Rs 1,22,000 at the upper price band. High-net-worth individuals (HNIs) can apply for a minimum of 2,000 shares with an investment of Rs 2,44,000. ADVERTISEMENT Incorporated in 2021, Neptune Petrochemicals is engaged in manufacturing and trading various grades of bitumen products, including polymer-modified and crumb-rubber-modified bitumen. The company's products are widely used in the construction and road-building sectors. It has three manufacturing units located in Ahmedabad (Gujarat), Panipat (Haryana), and Kamrup (Assam). It also exports products to neighbouring countries such as Nepal and Bhutan. ADVERTISEMENT For the nine months ended December 31, 2024, the company reported revenue of Rs 620 crore and a profit of Rs 19.47 crore. In the previous full year (FY24), Neptune had a profit of Rs 20.82 crore on revenue of Rs 675.97 crore. It has shown strong growth in a short period and maintains a healthy return on equity of 65 company plans to use the IPO proceeds to fund the purchase of office space, install new plant and machinery, meet working capital needs, and for general corporate purposes. ADVERTISEMENT Investors will be watching the subscription trends closely over the next few days, especially as the company is part of a fast-growing infrastructure segment. Its strong financials and niche product focus may attract interest, despite current cautious sentiment in the SME space. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)


Time of India
28-05-2025
- Business
- Time of India
Neptune Petrochemicals IPO opens today: Check GMP, price band and other details
The initial public offering of Neptune Petrochemicals will open for subscription today and will remain open until May 30. The company plans to raise Rs 73.20 crore through a fresh issue of 60 lakh shares. Ahead of the issue opening, there is no GMP in the unlisted market. Beeline Capital Advisors is managing the issue as the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar. Neptune Petrochemicals IPO price band The IPO is being offered in a price band of Rs 115 to Rs 122 per share. The shares will be listed on the NSE SME platform with a tentative listing date set for June 4. Retail investors can apply for a minimum of 1,000 shares, which amounts to Rs 1,22,000 at the upper price band. High-net-worth individuals (HNIs) can apply for a minimum of 2,000 shares with an investment of Rs 2,44,000. About Neptune Petrochemicals Incorporated in 2021, Neptune Petrochemicals is engaged in manufacturing and trading various grades of bitumen products, including polymer-modified and crumb-rubber-modified bitumen. The company's products are widely used in the construction and road-building sectors. It has three manufacturing units located in Ahmedabad (Gujarat), Panipat (Haryana), and Kamrup (Assam). It also exports products to neighbouring countries such as Nepal and Bhutan. For the nine months ended December 31, 2024, the company reported revenue of Rs 620 crore and a profit of Rs 19.47 crore. In the previous full year (FY24), Neptune had a profit of Rs 20.82 crore on revenue of Rs 675.97 crore. It has shown strong growth in a short period and maintains a healthy return on equity of 65 percent. The company plans to use the IPO proceeds to fund the purchase of office space, install new plant and machinery, meet working capital needs, and for general corporate purposes. Investors will be watching the subscription trends closely over the next few days, especially as the company is part of a fast-growing infrastructure segment. Its strong financials and niche product focus may attract interest, despite current cautious sentiment in the SME space.


Time of India
21-05-2025
- Business
- Time of India
Borana Weaves IPO Day 2: After strong investor response, GMP soars to 28%. Check subscription
Borana Weaves's IPO, which opened for subscription on Monday, saw strong traction from investors on the first day of bidding, particularly in the retail segment. The issue, which is set to raise Rs 144.89 crore through a 100% fresh equity sale, received 8.5 times subscription overall from investors. The category reserved for retail investors was booked 25 times, followed by non-institutional investors at 12 times, and qualified institutional investors at 1.6 times. With the retail portion already fully booked and strong interest from HNIs and institutional investors expected in the coming days, market participants will be closely watching the subscription figures ahead of the final day. Borana Weaves IPO last GMP is at around Rs 60, which indicates a listing premium of 28% over the issue price. The IPO is priced in the range of Rs 205 to Rs 216 per share, and the minimum lot size for retail investors is 69 shares. At the upper price band, the minimum investment for retail applicants stands at Rs 14,904. The IPO will remain open for bidding until Wednesday, May 22. Beeline Capital Advisors is the sole book-running lead manager, while KFin Technologies is acting as the registrar for the issue. Shares of the company are proposed to be listed on both BSE and NSE, with a tentative listing date of May 27. Live Events Borana Weaves, incorporated in 2020, is a Surat-based textile manufacturer known for its unbleached synthetic grey fabric and polyester textured yarn (PTY yarn). The company caters to a range of industries, including fashion, traditional textiles, home décor, and technical textiles. Its three manufacturing facilities are equipped with advanced machinery, including 700 water jet looms, which contribute to its high production capacity. The company intends to use the IPO proceeds to set up a new grey fabric manufacturing facility in Surat, meet incremental working capital needs, and for general corporate purposes. On the financial front, Borana Weaves reported a strong performance for the nine-month period ending December 2024, with revenues of Rs 215.71 crore and net profit of Rs 29.31 crore. The company's robust growth, along with improving sector sentiment, has driven optimism around the IPO. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Economic Times
20-05-2025
- Business
- Economic Times
Borana Weaves IPO subscribed 1.8 times on Day 1; GMP points to 25% listing gain— Should you apply?
The initial public offering (IPO) of Borana Weaves was fully subscribed on Tuesday with an overall subscription of 1.79 times as of 11:05 AM on the first day of bidding, indicating a solid start to the nearly Rs 145 crore public offer. ADVERTISEMENT Retail investors led the momentum with their portion subscribed 7.12 times, while the Non-Institutional Investor (NII) category saw 1.82 times subscription. The issue, which opened on May 20, will close on May 22. Listing is expected on May 27. Grey Market Premium Priced in a band of Rs 205 to Rs 216 per share, the IPO is generating investor buzz with a grey market premium (GMP) of Rs 55 as of early Tuesday, May 20. Based on the upper end of the price band at Rs 216, the IPO's estimated listing price is pegged at Rs 271, implying a potential listing gain of 25.46%. Offer structure and key dates The Rs 144.89 crore IPO is a book-built issue comprising a fresh issuance of 67.08 lakh equity shares. The price band is set at Rs 205 to Rs 216 per share. The minimum bid for retail investors is one lot of 69 shares (Rs 14,904 at the upper band), while small NIIs can bid for at least 14 lots (966 shares) at Rs 2,08,656, and big NIIs for 68 lots (4,692 shares) at Rs 10,13,472. The IPO allocation reserves at least 75% of the shares for Qualified Institutional Buyers (QIBs), up to 15% for NIIs, and not more than 10% for retail investors. The anchor book opened on May 19. Beeline Capital Advisors is the book-running lead manager, while Kfin Technologies serves as registrar. ADVERTISEMENT Share allotment is expected to be finalized on May 23, with credits to demat accounts by May 26. Capital to fund expansion ADVERTISEMENT Proceeds from the IPO will be used primarily to establish a fourth manufacturing unit in Surat, augment working capital, and cover general corporate expenses.'The proceeds from the IPO will support the expansion of our production infrastructure and help us address our working capital needs,' said Mangilal Ambalal Borana, Chairman and Managing Director of Borana Weaves. ADVERTISEMENT Financials and business outlook Founded in 2021 and based in Surat, Borana Weaves manufactures unbleached synthetic grey fabric used across fashion, home décor, and industrial applications. The company operates three manufacturing units equipped with 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding Weaves reported revenue of Rs 199.05 crore, EBITDA of Rs 41.17 crore, and PAT of Rs 23.58 crore for FY24. For the nine months ended December 2024, revenue reached Rs 211.61 crore with EBITDA of Rs 46.03 crore and PAT of Rs 29.30 crore. ADVERTISEMENT The company's customer base is concentrated among wholesalers in Gujarat. With the global man-made fiber market expected to grow at 3.7% in 2025, Borana aims to expand its reach in both domestic and export markets. Analyst view Gaurav Garg of Lemonn Markets Desk said the IPO presents an attractive short-term bet, supported by strong listing gain potential, healthy financials, and solid investor interest in the grey market."Borana Weaves' IPO offers a compelling short-term opportunity, with strong listing gain potential driven by robust growth, healthy margins, and attractive GMP. The company's niche positioning and integrated manufacturing give it an edge, but high regional concentration and raw material volatility remain key risks," said Garg."At a P/E of ~17.5x, valuations seem fair, making it a suitable pick for retail and HNI investors looking to capitalize on debut momentum—while long-term investors may want to monitor execution and expansion before committing," said Garg. Also read | Borana Weaves IPO opens for subscription with healthy GMP. Should you bid? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)