Latest news with #NIIs
Business Upturn
20 hours ago
- Business
- Business Upturn
Prostarm Info Systems IPO: Shares lists at Rs 120 on NSE with 14% premium over issue price
Prostarm Info Systems Limited had a solid listing on the bourses today, opening at ₹120 on the NSE and ₹125 on the BSE, marking a 14.3% and 19.04% premium respectively over its issue price of ₹105. The listing comes amidst subdued debut performances by recent IPOs such as Leela Hotels, Aegis Vopak Terminals, Belrise Industries, and Borana Weaves. In contrast, Prostarm's IPO garnered robust demand across categories. The IPO, which was open from May 27 to May 29, 2025, was subscribed an impressive 96.68 times overall. The Qualified Institutional Buyers (QIB) portion was subscribed 102.67 times, Non-Institutional Investors (NIIs) subscribed 222.13 times, and retail investors subscribed 39.48 times. The issue was priced at ₹105 per share, with a lot size of 142 shares for retail investors, requiring a minimum investment of ₹13,490. Due to oversubscription, most retail investors applied at the cutoff price of around ₹14,910. For small NIIs, the minimum application was 1,988 shares worth ₹2,08,740, while big NIIs had to apply for at least 9,656 shares, worth ₹10,13,880. The allotment was finalized on May 30, with shares credited to demat accounts prior to today's listing. Prostarm's listing sets a positive tone for SME IPOs amid recent mainboard listing struggles. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Economic Times
5 days ago
- Business
- Economic Times
Scoda Tubes IPO attracts strong demand, subscribed over 9x on Day 3 so far. Check details
Scoda Tubes IPO saw strong subscription, led by NIIs. Backed by robust financial growth, export potential, and backward integration, brokerages recommend a long-term "Subscribe." However, cash flow concerns and customer concentration risks remain. The Rs 220 crore issue closes on May 30, with listing expected on June 4. Tired of too many ads? Remove Ads Key details of the Scoda Tubes IPO: Scoda Tubes grey market premium (GMP) Should you subscribe to the Scoda Tubes IPO? Tired of too many ads? Remove Ads Important dates for Scoda Tubes IPO Scoda Tubes IPO Structure About Scoda Tubes Tired of too many ads? Remove Ads The initial public offering ( IPO ) of Scoda Tubes , which saw a smooth response on the first 2 days of the bidding process, has drawn robust interest on Day 3, with the issue subscribed 0.07 times in total so strong response has been led by non-institutional investors (NIIs), who had subscribed 27.04 times by around 11:15 am. Retail investors followed with a 5.63 times subscription , while qualified institutional buyers (QIBs) took up the issue 1.8 the unlisted market, Scoda Tubes shares are commanding a premium of Rs 19–21, translating to a GMP of 13.6%.Brokerage firm Canara Bank Securities has recommended a 'SUBSCRIBE' rating for long-term investors. It noted that the company's technical expertise, rising export share, asset-backed expansion, and sector tailwinds position it well for scalable growth. While the IPO is priced at a P/E of 30.43x and a P/B of 8.76x -- broadly in line with industry peers -- investors should be mindful of cash flow concerns and customer concentration at Anand Rathi stated they believe that the company's key differentiator is its manufacturing process of its crucial raw material which enables backward integration , enabling Scoda Tubes to exercise greater control over production costs, reduce dependence on third-party suppliers, and improve overall operational the issue is fully priced, they gave a 'Subscribe for long term' rating for the summary, investors with a long-term view looking to tap into India's industrial and export manufacturing story may consider subscribing to Scoda Tubes IPO opened for subscription on May 28 and will remain open until May 30. Allotment is expected to be finalized by June 2, with the listing scheduled for June 4 on both NSE and company plans to raise Rs 220 crore via a 100% fresh issue, offering 1.57 crore to 1.69 crore equity shares within a price band of Rs 130 to Rs 140 per in 2008, Scoda Tubes manufactures stainless-steel seamless and welded tubes for critical industries including oil & gas, chemicals, power, railways, and pharmaceuticals. The company operates out of Mehsana, Gujarat, and boasts backward integration through a hot piercing Tubes has also expanded internationally, with exports contributing over 28% to total revenue in the first nine months of FY25, spanning 11 SnapshotScoda Tubes has posted impressive growth over the past two years. Revenue rose sharply from Rs 194 crore in FY22 to Rs 400 crore in FY24, while profit after tax (PAT) jumped from Rs 1.63 crore to Rs 18.3 crore over the same the company has strengthened its margins, with EBITDA margin climbing from 5.15% in FY22 to 14.7% in FY24, and return on equity (RoE) improving to 28.77%.However, despite this performance, the company's cash flow from operations in FY24 was modest at Rs 2.26 crore, highlighting concerns around cash flow efficiency even amid rising revenue and profits.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
7 days ago
- Business
- Time of India
Neptune Petrochemicals IPO sails through on Day 1. Check details
Neptune Petrochemicals' Rs 73.20 crore IPO was subscribed 1.06 times on Day 1, with strong interest from QIBs and NIIs. The company shows solid financials and growth potential in the infrastructure-linked bitumen segment. Tired of too many ads? Remove Ads Neptune Petrochemicals IPO price band Tired of too many ads? Remove Ads About Neptune Petrochemicals 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 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 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 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, 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 has three manufacturing units located in Ahmedabad (Gujarat), Panipat (Haryana), and Kamrup (Assam). It also exports products to neighbouring countries such as Nepal and 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 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)
Time of India
7 days ago
- Business
- Time of India
Nikita Papers IPO subscribed 88% on Day 2: Check GMP, price band and key issue details
Synopsis Nikita Papers' IPO sees moderate demand, with 88% subscription led by NIIs and retail investors. The Rs 67.54 crore issue aims to fund renewable energy and expansion. GMP suggests modest listing gains, reflecting cautious market sentiment amid growth prospects.
Mint
27-05-2025
- Business
- Mint
Strong Debut! Borana Weaves shares list at ₹243, a premium of 12.5% over IPO price
Borana Weaves IPO listing: Shares of Borana Weaves IPO made a strong debut on the bourses on Tuesday, May 27, as they listed at ₹ 243 on NSE and BSE, a premium of 12.5 per cent over the issue price of ₹ 216. The IPO, valued at 144.89 crore, was open for subscription from May 20 to May 22. The IPO concluded on an exceptional note, receiving bids amounting to 147.85 times the shares on offer over the three-day bidding period. A total of 54.54 crore shares were bid for, compared to the 36.89 lakh shares available. The retail investor portion was subscribed 200.50 times, while the non-institutional investor (NII) category saw a subscription of 237.41 times. Meanwhile, the Qualified institutional buyers (QIBs) portion was booked 85.53 times. Borana Weaves IPO was a completely fresh issue comprising 67 lakh shares, with no offer-for-sale component. The minimum application size was set at 69 shares, requiring a minimum investment of ₹ 14,145 from retail investors. Borana Weaves aims to utilise the proceeds from its IPO for various goals, such as funding the setup of a new manufacturing facility to increase its grey fabric production capacity in Surat, Gujarat, India; supplying extra working capital; and addressing general corporate requirements. Borana Weaves IPO allocated not less than 75 per cent of the public issue for Qualified Institutional Buyers (QIBs), while Non-Institutional Investors (NIIs) were allotted up to 15 per cent. The remaining 10 per cent of the offer was earmarked for retail individual investors. Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Borana Weaves IPO, while Kfin Technologies Limited is the registrar for the issue. Incorporated in 2020, Borana Weaves Limited is a textile manufacturing company based in Surat, Gujarat, specialising in the production of unbleached synthetic grey fabric. This fabric serves as a foundational material for further processing such as dyeing and printing, making it suitable for a wide range of industries including fashion, traditional and technical textiles, home décor, and interior design. Apart from producing grey fabric, Borana Weaves also manufactures polyester textured yarn (PTY Yarn), which is created by heating polyester oriented yarn (POY Yarn), the key raw material in grey fabric manufacturing. The company runs three manufacturing units in Surat, Gujarat, all outfitted with modern textile production technologies such as texturizing, warping, water jet looms, and textile folding.
