Latest news with #InitialPublicOffer
The Hindu
3 days ago
- Business
- The Hindu
Aequs files for an IPO on a confidential basis
Aequs Limited, Belagavi-based aerospace company, has decided to issue an Initial Public Offer on a confidential basis. A pre-filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) on a confidential basis has been filled with the stock markets regulator, SEBI, and stock exchanges. It was announced on Tuesday. (June 3, 2025). The Board of Directors of Aequs Ltd. recently passed a resolution for approval to change its status to a public company and rename it from 'Aequs Private Limited' to 'Aequs Limited', as per its regulatory filing. The company is reportedly planning to launch an IPO worth $200 million, as per sources and past media reports. The offer will comprise both a fresh issue of equity shares and an offer for sale (OFS) component, according to company's regulatory filings. The company declined to comment. The book running leading managers to the IPO reportedly are Kotak Mahindra Capital, JM Financial and IIFL Capital. Aequs had received significant equity infusion over the years from its promoters to scale operations of the company. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N. R. Narayana Murthy), Sparta Group and the investment office of Desh Deshpande, as per publicly available information. The total income of the company was around Rs. 988 crore in FY24 and the total operating income was Rs. 970 crore in FY24. The company derives financial flexibility from continued promoter's support, the report said. ,p Aequs runs manufacturing operations across three countries – India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in Karnataka, India. Media reports mentioned that Aequs along with Tata Electronics, Motherson Group & Jabil are now producing mechanical components for Apple products. This is the only manufacturing facility outside of the Americas for Tramontina. Apart from making products for Tramontina worldwide, said a release.
Mint
4 days ago
- Business
- Mint
Prostarm Info Systems Share Price Live: Here's what GMP, experts hint about share debut on the Indian stock market
The equity shares of Prostarm Info Systems, a manufacturer of power solution products, are set to launch today on the Indian stock market following a recently completed initial public offering (IPO). Prostarm Info Systems IPO listing date is today, June 3, 2025. The public offering was available from May 27 to May 29, and the IPO allotment took place on May 30. The IPO listing date is June 3, which falls on a Tuesday. Trading Members of the Exchange are hereby notified that effective Tuesday, June 3, 2025, the equity shares of PROSTARM INFO SYSTEMS LIMITED will be listed and allowed for trading on the Exchange as part of the 'T' Group of Securities. Additionally, the script will be in the Trade-for-Trade segment for a duration of 10 trading days, according to a notice from the BSE. Prostarm Info Systems shares will be included in the Special Pre-open Session (SPOS) on Tuesday, June 3, 2025, and will be available for trading starting at 10:00 AM. As an integrated provider of power solutions, Prostarm Info Systems specializes in UPS systems, lithium-ion battery packs, and various third-party power solution products, among others. The company serves multiple sectors, including healthcare, aviation, research, BFSI, railways, defense, security, education, renewable energy, information technology, and oil & gas. The company produces a variety of power solution products under the Prostarm brand, including UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilizers, and isolation transformers. Prostarm operates three manufacturing plants in Maharashtra. In the fiscal year 2024, the company served over 700 clients, including prominent names such as Larsen & Toubro Ltd, Tata Power Co. Ltd, and Bajaj Finance Ltd. The initial share sale of integrated power solutions company Prostarm Info Systems Ltd, valued at ₹ 168 crore, was oversubscribed by an impressive 97.20 times by the end of the bidding period on Thursday, thanks to strong interest from institutional investors. The Initial Public Offer (IPO) attracted bids for 108,86,41,296 shares compared to 1,12,00,000 shares available, as per NSE data. The segment for non-institutional investors saw a tremendous subscription of 222.14 times, while the Qualified Institutional Buyers (QIBs) portion achieved a subscription rate of 104.49 times. The Retail Individual Investors (RIIs) category recorded a subscription of 39.49 times. Prostarm Info Systems IPO GMP today is +12. This indicates Prostarm Info Systems share price is trading at a premium of ₹ 12 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Prostarm Info Systems share price is indicated at ₹ 117 apiece, which is 11.43% higher than the IPO price of ₹ 105. According to the activities observed in the grey market over the last 15 sessions, the present GMP ( ₹ 12) indicates a downward trend. The lowest recorded GMP stands at Re 0.00, whereas the peak GMP reached ₹ 25, as noted by experts from 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.
Time of India
23-05-2025
- Business
- Time of India
Schloss Bangalore invests ₹1,131 crore to develop five properties
NEW DELHI: Brookfield-backed Schloss Bangalore Ltd, which owns luxury hospitality brand 'The Leela' Palaces, Hotels and Resorts, is investing Rs 1,131 crore to develop five company-owned hospitality properties, comprising 475 rooms, in Agra, Srinagar, Bandhavgarh, Ranthambore and Ayodhya. Schloss Bangalore, which is launching its Rs 3,500 crore Initial Public Offer (IPO) on Monday, operates the hospitality brand Leela Palaces Hotels & Resorts. The company currently has 13 hotels, out of which 5 are company-owned while the other 8 are under its management. "We are investing Rs 1,131 crore into the five upcoming owned hotels in Agra, Srinagar, Bandhavgarh, Ranthambore and Ayodhya having 475 keys overall," Ravi Shankar, Head Asset Management and Chief Financial Officer at The Leela Palaces , Hotels and Resorts, told PTI. The five owned hotels are expected to commence operations by 2028, according to the company's red herring prospectus (RHP). Shankar shared that it will be a debt-free company after raising Rs 3,500 crore through the IPO, as the primary proceeds of close to Rs 2,500 crore will be used to pay off debt. The luxury hospitality brand was acquired by Canada-based investment management firm Brookfield in 2019, which proposes to dilute its stake by 24 per cent post the Rs 3,500-crore initial public offering (IPO), being touted as the largest IPO yet in the hospitality segment, bringing it down to 76 per cent. Ankur Gupta, Head of Asia Pacific and Middle East for Brookfield's Real Estate Group, said, "At the upper end of the price our ownership will be roughly 76 per cent post-IPO, so 24 per cent dilution, including offer for sale at the price when I bought it." "We have 20 hotels, out of which 13 are operational. We own five hotels, which is 35 per cent of our total portfolio. We have 678 keys in active stages of development at various stages. Nearly 65 per cent of our portfolio is through our managed hotels," Shankar said. The Rs 3,500-crore IPO opens on Monday at a price band of Rs 413-435 per share, and is a combination of a fresh issue of equity shares worth Rs 2,500 crore and offer for sale (OFS) of stocks valued Rs 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. As of March 2025, the company had a total borrowings of over Rs 3,900 crore, the red herring prospectus showed. Schloss Bangalore, which operates luxurious hotels and resorts under the "The Leela" brand, had a portfolio of 3,382 keys across 12 operational hotels as of May 31, 2024. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts, located across 10 key Indian destinations. On the financial front, the company has seen significant financial growth, with operating profit, or EBITDA, increasing from Rs 87.72 crore in FY22 to Rs 600.03 crore in FY24.
Time of India
23-05-2025
- Business
- Time of India
IPO-bound 'The Leela' Palaces Hotels and Resorts investing Rs 1,131 cr in 5 properties
Brookfield-backed Schloss Bangalore Ltd, which owns luxury hospitality brand 'The Leela' Palaces, Hotels and Resorts, is investing Rs 1,131 crore to develop five company-owned hospitality properties, comprising 475 rooms, in Agra, Srinagar, Bandhavgarh, Ranthambore and Ayodhya. Schloss Bangalore, which is launching its Rs 3,500 crore Initial Public Offer ( IPO ) on Monday, operates the hospitality brand Leela Palaces Hotels & Resorts. The company currently has 13 hotels, out of which 5 are company-owned while the other 8 are under its management. "We are investing Rs 1,131 crore into the five upcoming owned hotels in Agra, Srinagar, Bandhavgarh, Ranthambore and Ayodhya having 475 keys overall," Ravi Shankar, Head Asset Management and Chief Financial Officer at The Leela Palaces, Hotels and Resorts, told PTI. The five owned hotels are expected to commence operations by 2028, according to the company's red herring prospectus (RHP). Shankar shared that it will be a debt-free company after raising Rs 3,500 crore through the IPO, as the primary proceeds of close to Rs 2,500 crore will be used to pay off debt. The luxury hospitality brand was acquired by Canada-based investment management firm Brookfield in 2019, which proposes to dilute its stake by 24 per cent post the Rs 3,500-crore initial public offering (IPO), being touted as the largest IPO yet in the hospitality segment, bringing it down to 76 per cent. Live Events Ankur Gupta, Head of Asia Pacific and Middle East for Brookfield's Real Estate Group, said, "At the upper end of the price our ownership will be roughly 76 per cent post-IPO, so 24 per cent dilution, including offer for sale at the price when I bought it." "We have 20 hotels, out of which 13 are operational. We own five hotels, which is 35 per cent of our total portfolio. We have 678 keys in active stages of development at various stages. Nearly 65 per cent of our portfolio is through our managed hotels," Shankar said. The Rs 3,500-crore IPO opens on Monday at a price band of Rs 413-435 per share, and is a combination of a fresh issue of equity shares worth Rs 2,500 crore and offer for sale (OFS) of stocks valued Rs 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. As of March 2025, the company had a total borrowings of over Rs 3,900 crore, the red herring prospectus showed. Schloss Bangalore, which operates luxurious hotels and resorts under the "The Leela" brand, had a portfolio of 3,382 keys across 12 operational hotels as of May 31, 2024. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts, located across 10 key Indian destinations. On the financial front, the company has seen significant financial growth, with operating profit, or EBITDA, increasing from Rs 87.72 crore in FY22 to Rs 600.03 crore in FY24.
Economic Times
23-05-2025
- Business
- Economic Times
IPO-bound 'The Leela' Palaces Hotels and Resorts investing Rs 1,131 cr in 5 properties
Brookfield-backed Schloss Bangalore Ltd, which owns luxury hospitality brand 'The Leela' Palaces, Hotels and Resorts, is investing Rs 1,131 crore to develop five company-owned hospitality properties, comprising 475 rooms, in Agra, Srinagar, Bandhavgarh, Ranthambore and Ayodhya. Schloss Bangalore, which is launching its Rs 3,500 crore Initial Public Offer (IPO) on Monday, operates the hospitality brand Leela Palaces Hotels & Resorts. The company currently has 13 hotels, out of which 5 are company-owned while the other 8 are under its management. ADVERTISEMENT "We are investing Rs 1,131 crore into the five upcoming owned hotels in Agra, Srinagar, Bandhavgarh, Ranthambore and Ayodhya having 475 keys overall," Ravi Shankar, Head Asset Management and Chief Financial Officer at The Leela Palaces, Hotels and Resorts, told PTI. The five owned hotels are expected to commence operations by 2028, according to the company's red herring prospectus (RHP). Shankar shared that it will be a debt-free company after raising Rs 3,500 crore through the IPO, as the primary proceeds of close to Rs 2,500 crore will be used to pay off debt. The luxury hospitality brand was acquired by Canada-based investment management firm Brookfield in 2019, which proposes to dilute its stake by 24 per cent post the Rs 3,500-crore initial public offering (IPO), being touted as the largest IPO yet in the hospitality segment, bringing it down to 76 per cent. Ankur Gupta, Head of Asia Pacific and Middle East for Brookfield's Real Estate Group, said, "At the upper end of the price our ownership will be roughly 76 per cent post-IPO, so 24 per cent dilution, including offer for sale at the price when I bought it." ADVERTISEMENT "We have 20 hotels, out of which 13 are operational. We own five hotels, which is 35 per cent of our total portfolio. We have 678 keys in active stages of development at various stages. Nearly 65 per cent of our portfolio is through our managed hotels," Shankar said. The Rs 3,500-crore IPO opens on Monday at a price band of Rs 413-435 per share, and is a combination of a fresh issue of equity shares worth Rs 2,500 crore and offer for sale (OFS) of stocks valued Rs 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. ADVERTISEMENT As of March 2025, the company had a total borrowings of over Rs 3,900 crore, the red herring prospectus showed. Schloss Bangalore, which operates luxurious hotels and resorts under the "The Leela" brand, had a portfolio of 3,382 keys across 12 operational hotels as of May 31, 2024. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts, located across 10 key Indian destinations. On the financial front, the company has seen significant financial growth, with operating profit, or EBITDA, increasing from Rs 87.72 crore in FY22 to Rs 600.03 crore in FY24. (You can now subscribe to our ETMarkets WhatsApp channel)
