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Business Standard
2 days ago
- Business
- Business Standard
BSE SME Unified Data Tech Solutions rises on debut
Shares of Unified Data Tech Solutions settled at Rs 299.25 on the BSE, a premium of 9.62% compared with the issue price of Rs 273. The scrip was listed at Rs 285, a premium of 4.40% compared with the initial public offer (IPO) price. The stock ended at its upper limit of 5% over its listing price. The counter hit a high of Rs 299.25 and a low of Rs 272.50. About 23.94 lakh shares of the company changed hands at the counter. Unified Data Tech Solutions' IPO was subscribed 84.92 times. The issue opened for bidding on 22 May 2025 and it closed on 26 May 2025. The price band of the IPO was fixed between Rs 260 to 273 per share. The issue consists entirely of an offer for sale (OFS) of 52,92,000 equity shares, aggregating to Rs 144.47 crore. The promoters, Hiren Rajendra Mehta, Rajendra Kantilal Mehta, and Harshaben Mehta, are selling shareholders in the OFS. The promoter and promoter groups shareholding will decline from 86.73% pre-IPO to 60.39% post-IPO. Ahead of the Unified Data Tech Solutions IPO on 21 May 2025, raised Rs 41.13 crore from anchor investors. The board has allotted 15.06 lakh shares at Rs 273 per share to 18 anchor investors. Unified Data Tech Solutions provides comprehensive IT solutions, including servers, storage solutions, networking equipment, IDPS, and various others. In addition to these products and services, it offers a wide range of services, including Technology Advisory, System Integration, and more. The company's services cater to a wide range of industries, such as BFSI, manufacturing, pharmaceuticals, IT, and IT-enabled services. It collaborates closely with clients to develop, implement, and manage cost-effective, secure, and high-performance IT solutions that meet their unique requirements, providing ongoing support to optimize their systems. As on 31 March 2025, the company had 38 employees at various levels of the organization. The company recorded revenue from operations of Rs 194.58 crore and net profit of Rs 31.68 crore for the period as of 28 February 2025.
Business Upturn
3 days ago
- Business
- Business Upturn
Hero FinCorp gets SEBI nod for Rs 3,668 crore IPO
By Aman Shukla Published on May 28, 2025, 15:36 IST Hero FinCorp has secured approval from the Securities and Exchange Board of India (SEBI) for its ₹3,668 crore Initial Public Offering (IPO). The market regulator's update on May 22 confirmed the clearance, following the company's submission of its Draft Red Herring Prospectus (DRHP) in August 2024. The IPO will comprise a fresh issue of equity shares worth ₹2,100 crore and an Offer for Sale (OFS) amounting to ₹1,568 crore. Existing investors participating in the OFS include AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (via Vikas Srivastava), and Otter Ltd. As per the DRHP, the net proceeds from the fresh issue will be used to augment Hero FinCorp's capital base to support future lending activities. SEBI's issuance of observations on May 22 signifies its approval for the launch of the IPO. The company is expected to announce further details regarding the offer timeline and pricing in the coming weeks. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Mint
3 days ago
- Business
- Mint
Upcoming IPO: Hero FinCorp gets Sebi approval to launch ₹3,668 crore IPO
Hero FinCorp, the financial services arm of two-wheeler maker Hero MotoCorp, has been granted approval by Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO) valued at ₹ 3,668 crore, as indicated in a notification from the markets regulator on Wednesday, according to PTI report. Hero FinCorp is a non-banking financial company (NBFC) that provides a wide range of financial products primarily aimed at retail customers and micro, small, and medium enterprises (MSMEs) in India. As of March 2024, the NBFC had total assets under management (AUM) amounting to ₹ 51,821 crore, with retail and MSME lending segments accounting for 65 percent and 21 percent, respectively. Since its establishment in 1991, the company has expanded its customer base to 1.18 crore as of March 2024. Hero FinCorp IPO consists of a new issuance of equity shares valued at ₹ 2,100 crore along with an Offer For Sale (OFS) of ₹ 1,568 crore from investor shareholders, as stated in the Draft Red Herring Prospectus (DRHP). The shareholders participating in the OFS include AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (represented by Vikas Srivastava), and Otter Ltd. According to recent updates, Hero FinCorp, which submitted its initial IPO documents to Sebi in August, received its observations on May 22. In the terminology used by Sebi, receiving observations signifies approval to proceed with the public offering. As indicated in the draft documents, the funds raised from the new issue will be utilized to bolster the company's capital to accommodate upcoming financing requirements for lending activities. The book running lead managers for the anticipated IPO are JM Financial Ltd, BofA Securities India Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities Ltd, Jefferies India Private Ltd, and SBI Capital Markets Ltd.
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Business Standard
3 days ago
- Business
- Business Standard
Last day! Leela Hotels IPO ends today; subscription lags at 19%, GMP at 3%
Leela Hotels IPO subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Schloss Bangalore (Leela Hotels IPO) is set to conclude today, May 28, 2025. The public issue, which opened on Monday, May 26, has received a muted response from investors. The NSE data suggests that the ₹3,500 crore offering of Leela Hotels received bids for 90,54,642 shares, against 4,66,10,169 shares on offer, resulting in a subscription of merely 19 per cent by 11:09 AM on May 27. Among the investor categories, retail investors led the demand by subscribing the category reserved for them by 48 per cent. This was followed by non-institutional investors (NIIs), who bid for 16 per cent, and qualified institutional buyers (QIBs) for 11 per cent. Leela Hotels IPO details Leela Hotels IPO is a fresh issue of 57.5 million equity shares aggregating up to ₹2,500 crore, and an offer for sale (OFS) with promoter Project Ballet Bangalore Holdings divesting 23 million equity shares aggregating up to ₹1,000 crore. Leela Hotels has set the price band of ₹413–435 per share, and a lot size of 34 shares. A retail investor would require a minimum of ₹14,790 to bid for one lot or 34 shares of Leela Hotels IPO (taking the upper end of the IPO price into consideration). A retail investor can bid for a maximum of 13 lots or 442 shares, amounting to ₹1,92,270. Leela Hotels IPO grey market premium (GMP) The unlisted shares of Leela Hotels were commanding a muted premium in the grey market on the last day of its subscription window. Sources tracking unofficial market activities revealed that Leela Hotels shares were seen trading at around ₹447.5 per share, reflecting a grey market premium (GMP) of ₹12.5 or 2.87 per cent over the upper end of the issue price. Leela Hotels IPO review The company has received favourable reviews from brokerages for its public offering. Anand Rathi Research Team and Bajaj Broking have recommended subscribing to the issue for a long-term perspective. Leela Hotels IPO allotment date, listing date As the subscription window closes today, the basis of allotment of Leela Hotels IPO shares is expected to get finalised on Thursday, May 29, 2025. The successful allottees will receive the company's shares into their demat accounts by tentatively Friday, May 30, 2025. Leela Hotels shares are slated to list on the BSE and NSE tentatively on Monday, June 2, 2025. Leela Hotels IPO objective The company will not receive any proceeds from the OFS component. "The Promoter Selling Shareholder will be entitled to its portion of the proceeds from the OFS, after deducting its proportion of offer-related expenses and applicable taxes,' the company said in its Red Herring Prospectus (RHP). The company, however, intends to utilise the proceeds from the fresh issue towards funding the repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by the company and certain of its subsidiaries—namely Schloss Chanakya, Schloss Chennai, Schloss Udaipur, and TPRPL—through investment in such subsidiaries. The company will also use the proceeds for general corporate purposes. Leela Hotels IPO registrar, lead managers For the public offering, KFin Technologies serves as the registrar. The book-running lead managers for the public issue include JM Financial, BofA Securities India, Morgan Stanley India, JP Morgan India, Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, IIFL Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets. About Schloss Bangalore Schloss Bangalore owns, operates, manages, and develops luxury hotels and resorts under 'The Leela' brand. The company undertakes its business primarily through direct ownership of hotels and hotel management agreements with third-party hotel owners. The company is one of the largest luxury hospitality companies by number of keys in India, comprising 3,553 keys across 13 operational hotels as on March 31, 2025. The company's portfolio includes 5 owned hotels (Owned Portfolio), 7 hotels that are managed by the company through hotel management agreements (Managed Portfolio), and 1 hotel which is owned and operated by a third-party owner under a franchise arrangement with the company. The company has a strategic footprint across 10 key Indian business and leisure destinations, covering 80 per cent of international air traffic and 59 per cent of domestic air traffic in India in FY 2025.
Economic Times
3 days ago
- Business
- Economic Times
Hero FinCorp gets Sebi's nod to float Rs 3,668 cr IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Hero FinCorp, the financial services division of two-wheeler manufacturer Hero MotoCorp , has received Sebi 's go-ahead to float a Rs 3,668 crore Initial Public Offering (IPO), an update with the markets regulator showed on Wednesday. The proposed IPO is a combination of fresh issue of equity shares worth Rs 2,100 crore and an Offer For Sale (OFS) of Rs 1,568 crore by investor shareholders, according to the Draft Red Herring Prospectus (DRHP).Those selling shares in the OFS are -- AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter per the update, Hero FinCorp, which filed its preliminary IPO papers with Sebi in August, obtained its observations on May Sebi's parlance, obtaining observations means its go-ahead to launch the public by the draft papers, proceeds from the fresh issue will be used to increase the company's capital to meet future funding needs for lending FinCorp is an NBFC offering a diversified suite of financial products catered primarily to the retail, micro, small and medium enterprise (MSME) customer segments in of March 2024, the NBFC firm had assets under management (AUM) of Rs 51,821 crore, of which retail and MSME loan verticals contributed 65 per cent and 21 per cent, respectively. Since the company's inception in 1991, its customer base has grown to 1.18 crore as of March 2024. JM Financial Ltd , BofA Securities India Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities Ltd, Jefferies India Private Ltd and SBI Capital Markets Ltd are the book running lead managers of the proposed IPO. The equity shares of the company are proposed to be listed on the BSE and NSE.
