Latest news with #Institutional
Mint
an hour ago
- Business
- Mint
NSDL IPO: Depository firm raises ₹1,200 crore from anchor investors ahead of public issue
NSDL IPO: The National Securities Depository Ltd (NSDL) completed its anchor investor round on Tuesday, July 29, 2025. The company raised over ₹ 1,200 crore from anchor investors ahead of its initial public offering (IPO). NSDL allocated a total of 1,50,17,999 equity shares or 1.5 crore equity shares to the anchor investors at an allocation price of ₹ 800 per share, the company informed BSE in an exchange filing. Of the total 1.5 crore equity shares allocated to the anchor investors 5,297,418 equity shares, nearly 35.27 per cent were allocated to 12 domestic mutual funds, who applied through a total of 22 schemes. Life Insurance Corporation of India, Smallcap World Fund, SBI Banking & Financial Services Fund, ICICI Prudential ElSS Tax Saver Fund, HDFC Value Fund, Fidelity Funds- India Focus Fund, Ashoka Whiteoak ICAV are some of the key anchor investors who were allocated equity shares. On Tuesday, July 29, the grey market premium (GMP) of NSDL IPO stood at ₹ 126 per share at 11:05 pm. With the upper price band at ₹ 800 per share, the shares of the company are expected to be listed at ₹ 926, with a premium of 15.75 per cent, according to data from Investorgain. The NSDL initial public offering (IPO) opens tomorrow and will continue till August 1, 2025. The company has set the IPO price band at ₹ 760 to ₹ 800 per equity share. It plans to raise ₹ 4,011.60 crore through a fully offer-for-sale (OFS). The IPO is scheduled for listing on both NSE and BSE. The proposed public issue plans to allocate up to 50 per cent of shares to Qualified Institutional Buyers (QIBs), at least 15 per cent to Non-Institutional Investors (NIIs), and a minimum of 35 per cent to retail investors. Moreover, up to 85,000 equity shares are reserved for eligible employees, who will benefit from a discount of ₹ 76 per share through the employee reservation segment.
Mint
3 hours ago
- Business
- Mint
NSDL IPO: Depository firm raises ₹1,200 crore from anchor investors ahead of public issue
NSDL IPO: The National Securities Depository Ltd (NSDL) completed its anchor investor round on Tuesday, July 29, 2025. The company raised over ₹ 1,200 crore from anchor investors ahead of its initial public offering (IPO). NSDL allocated a total of 1,50,17,999 equity shares or 1.5 crore equity shares to the anchor investors at an allocation price of ₹ 800 per share, the company informed BSE in an exchange filing. Of the total 1.5 crore equity shares allocated to the anchor investors 5,297,418 equity shares, nearly 35.27 per cent were allocated to 12 domestic mutual funds, who applied through a total of 22 schemes. Life Insurance Corporation of India, Smallcap World Fund, SBI Banking & Financial Services Fund, ICICI Prudential ElSS Tax Saver Fund, HDFC Value Fund, Fidelity Funds- India Focus Fund, Ashoka Whiteoak ICAV are some of the key anchor investors who were allocated equity shares. On Tuesday, July 29, the grey market premium (GMP) of NSDL IPO stood at ₹ 126 per share at 11:05 pm. With the upper price band at ₹ 800 per share, the shares of the company are expected to be listed at ₹ 926, with a premium of 15.75 per cent, according to data from Investorgain. The NSDL initial public offering (IPO) opens tomorrow and will continue till August 1, 2025. The company has set the IPO price band at ₹ 760 to ₹ 800 per equity share. It plans to raise ₹ 4,011.60 crore through a fully offer-for-sale (OFS). The IPO is scheduled for listing on both NSE and BSE. The proposed public issue plans to allocate up to 50 per cent of shares to Qualified Institutional Buyers (QIBs), at least 15 per cent to Non-Institutional Investors (NIIs), and a minimum of 35 per cent to retail investors. Moreover, up to 85,000 equity shares are reserved for eligible employees, who will benefit from a discount of ₹ 76 per share through the employee reservation segment. 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
7 hours ago
- Business
- Mint
Laxmi India Finance IPO subscribed 0.37x on Day 1; retail shows higher participation
The initial public offering (IPO) of Laxmi India Finance received a muted response on its first day of bidding (July 29), with investors placing bids for 42.40 lakh shares against a total offer of 1.13 crore shares, resulting in an overall subscription of 0.37 times by the end of Day 1, according to exchange data. The retail investors' portion was subscribed 0.61 times, while the non-institutional investors' (NII) portion was booked 0.19 times. The Qualified Institutional Buyers' (QIB) portion saw a subscription of just 0.10 times. Laxmi India Finance aims to raise ₹ 254.26 crore through the IPO, comprising a fresh issue of 1.05 crore shares aggregating to ₹ 165.17 crore and an offer for sale of 0.56 crore shares worth ₹ 89.09 crore. The IPO lot size is fixed at 94 shares, requiring a minimum investment of ₹ 14,852 for retail investors. The issue price has been set in the range of ₹ 150–158 per share. The allotment for the IPO is expected to be finalized on Friday, August 1, 2025, with shares scheduled to list on both NSE and BSE on Tuesday, August 5. PL Capital Markets Private Limited is the book-running lead manager, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue. The company plans to utilize the proceeds to augment its capital base and meet future lending requirements. As of today, the grey market premium (GMP) for the Laxmi India Finance IPO stands at ₹ 0 per share, indicating that the shares are expected to list at par with the issue price. The GMP reflects the anticipated difference between an IPO's issue price and its expected listing price in the unofficial market. However, it is only a preliminary indicator and should not be the sole basis for investment decisions. The company is a non-deposit taking non-banking financial company focused on serving the financial needs of underserved customers in India's lending market. As on March 31, 2025, its operational network spans across 158 branches in rural, semi-urban and urban areas in the states of Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh and Uttar Pradesh. Laxmi Finance has the widest reach in Rajasthan in terms of being the company with highest number of branches amongst its peers for the period ending FY25, the company said in its RHP report, citing CARE Report. Its product portfolio includes MSME loans, vehicle loans, construction loans and other lending products catering to the diverse financial needs of its customers. The company's MSME lending fuels economic growth and promotes financial inclusion by supporting small businesses and entrepreneurs, with over 80% of its MSME loans qualifying as Priority Sector Lending under RBI guidelines. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Why angel investors in India may soon be rarer than Bengal tigers
Sebi wants individuals to get accredited like US investors, but with only 650 approvals so far, India's angel investors are rarer than Bengal tigers, threatening early-stage funding Bloomberg Angel investing in India has just crossed a modest milestone of $1 billion in commitments, and already the nascent asset class is facing extinction. Blame it on an overdose of regulatory attention. Until recently, affluent individuals who placed small bets on long shots were targeted with a bizarre 'angel tax,' which viewed startups' fundraising as taxable income. Now that the government has finally scrapped the draconian levy, the Securities and Exchange Board of India has sown fresh seeds of disquiet for people who want to try early-stage allocations via collective investment plans: It wants them to get accredited. Commitments into angel funds have swelled by 44 per cent over the past year, and investments have surged by a third. These are reasonable growth rates, but the Sebi seems to believe that it can give a further boost to the 'ease of doing business.' The regulator means well. It wants to unshackle angel investors from India's Companies Act, which limits participation in private placement of securities to 200 subscribers. Any more will require public offerings. But this rule is unfair to regulated funds, where professional managers are required to have skin in the game. Plus, the risks are explained in a memorandum, and explicit investor consent is needed for each bet. There's clearly a need to distinguish between private placements and angel investing. But how does the regulator sidestep a law made by parliament? It has come up with a plan. From next year, individuals who invest in angel funds will be treated as Qualified Institutional Buyers. Since the law exempts QIBs from the 200-person rule, managers will no longer have to limit participation. This 'would allow angel funds to show opportunities to a wider pool of eligible investors, while staying in conformity with the Companies Act,' the Sebi said last month. There's a catch, however. Since individuals aren't really institutions, the Sebi wants them to become accredited investors like in the US to qualify for the exemption. They will have a year to adjust to the new regime. Trouble is that while 13 per cent of Americans meet the thresholds for buying private securities, so far only 650 Indians have successfully applied for accreditation, according to ET Wealth. That makes them rarer than the Bengal tiger, an endangered species. Do only 0.00005 per cent of Indians earn more than ₹2 crore ($230,000) annually, or have a net worth in excess of $860,000? Not really. Counting just the top tax payers, at least 60,000 people should easily meet those minimum standards. But to get accredited, people have to provide proof to third parties. In a country where authorities send tax bills to roadside vegetable vendors by tracing QR-code-based payments, it's in nobody's interest to furnish documentation showing how rich they are. Not when the memory of the disastrous 'angel tax' is still fresh. Even if the goal is to drive accreditation, why single out startup investors who are doing something worthwhile with their money and time? That already sets them apart from the nine out of 10 Indian retail traders betting on equity options and being taken to the cleaners by big whales like Jane Street. The public-market casino is where the regulator needs to police participation. Private markets don't need the same level of scrutiny beyond ensuring that the capital entering fledgling firms is not tainted. At present, angel investors only self-certify a minimum net worth to their fund manager. The thresholds are low, as is the compliance burden. It is a lax process. Not everyone who is being invited to dabble in unlisted securities has the risk appetite for it. But as long as they are giving informed consent, they can be safely left alone. It's the insurance and banking regulators that have to put a stop to much more widespread deceptive selling in their industries. Why's the Sebi rushing to fix what isn't broken? The $1.2 billion that angels have committed so far may not produce superstar enterprises. That's fine, as long as a growing pot of money helps nurture some gritty entrepreneurs. As I wrote last week, millennial and Gen Z billionaires among India's traditional family-owned firms are bored with business. They don't fancy their chances against either large tycoons, or smart startup founders. But the latter need financing. The Sebi's other ideas are laudable. Relaxing the floor and cap on investments, doing away with concentration limits on exposure, and allowing funds to keep backing startups as they mature will improve returns. But forcing investors to get accredited by third parties? That's sure to backfire, unless the Sebi itself obtains their permission to query the tax returns database. A simple yes or no answer to the eligibility question, based on information they have already shared with tax authorities, could help increase the number of 650 accredited investors manifold. The rich in India are far from endangered, but they don't want to flaunt their stripes any more than they have to.
Economic Times
5 days ago
- Business
- Economic Times
Indiqube Spaces IPO subscribed 2.8 times on final day of bidding, GMP at 5%. Should you subscribe?
On the final day of bidding, the initial public offering (IPO) of Indiqube Spaces was subscribed 2.8 times. Indiqube Spaces IPO: Retail investors demonstrated the strongest interest, with their portion oversubscribed 7.74 times. The Non-Institutional Investor (NII) segment saw a subscription of 2.26 times, while Qualified Institutional Buyers (QIBs) subscribed 1.42 times to their allotted quota. Tired of too many ads? Remove Ads Indiqube IPO details Tired of too many ads? Remove Ads Utilization of proceeds by Indiqube Here is what the brokerage firms say about the issue: Anand Rathi: At the upper price band company is valuing at P/S of 4.7x with EV/EBITDA of 14.6x and a market cap of Rs 49,771 million post issue of equity shares. The brokerage firm believes that the IPO is fully priced and recommends a 'Subscribe-Long term' rating to the IPO. At the upper price band company is valuing at P/S of 4.7x with EV/EBITDA of 14.6x and a market cap of Rs 49,771 million post issue of equity shares. The brokerage firm believes that the IPO is fully priced and recommends a 'Subscribe-Long term' rating to the IPO. Bajaj Broking: At the upper end of the IPO price band, the company is valued at 4x, 5x, and 7x its FY25, FY24, and FY23 sales, respectively—largely in line with its listed peer, Awfis Space, which trades at 4x, 5x, and 8x sales for the same periods. With this, they have a 'Subscribe for long term' rating on the IPO. At the upper end of the IPO price band, the company is valued at 4x, 5x, and 7x its FY25, FY24, and FY23 sales, respectively—largely in line with its listed peer, Awfis Space, which trades at 4x, 5x, and 8x sales for the same periods. With this, they have a 'Subscribe for long term' rating on the IPO. Lemonn Markets Desk: While IndiQube is loss-making, it is operating in a high-growth, underpenetrated sector with strong operational metrics and scalable tech-driven business. Its dominant presence in India's most active office markets, efficient capital model, and VAS ecosystem position it well to capitalize on the office space revival and GCC expansion. However, due to rich valuations and continued losses, the IPO is better suited for investors with a long-term horizon and moderate risk appetite. The brokerage firm has a 'Subscribe for long term' rating for the issue. About Indiqube Spaces The initial public offering (IPO) of Indiqube Spaces was subscribed 2.8 times so far on Friday, the final day of the bidding process. The IPO garnered bids for 4,80,83,112 shares against the 1.71 crore shares on investors showed the highest interest, with their portion subscribed 7.74 times. The Non-Institutional Investor (NII) segment was subscribed 2.26 times, while Qualified Institutional Buyers (QIBs) subscribed to their allocated quota by 1.42 the grey market, Indiqube Spaces shares were trading at a premium of Rs 12–Rs 13, indicating a potential listing gain of around 5.06% over the upper end of the IPO price band, down from 7% on IPO price band is set between Rs 225 and Rs 237 per share, with a lot size of 63 shares, requiring a minimum investment of Rs 14,931 at the upper total issue size stands at Rs 700 crore, comprising a fresh issue of Rs 650 crore, the proceeds of which will go to the company, and an offer for sale (OFS) of Rs 50 crore by existing Securities is acting as the lead manager for the issue, and MUFG Intime India is the plans to deploy Rs 462.65 crore from the fresh issue proceeds to set up new workspaces. An additional Rs 93 crore will be used to repay or prepay borrowings, with the balance allocated for general corporate in 2015 as Innovent Spaces Pvt. Ltd., Indiqube Spaces provides modern and sustainable office solutions. Originally based in Uttar Pradesh, the company shifted its headquarters to Bengaluru in FY25, the company posted a revenue of Rs 1,102.93 crore, marking a 27% increase from Rs 867.66 crore in FY24. The net loss narrowed significantly to Rs 139.62 crore in FY25, compared to Rs 341.51 crore in the previous year.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
