Latest news with #OfferforSale
Mint
2 days ago
- Business
- Mint
Upcoming IPOs: Vikram Solar, Shreeji Shipping and 3 other companies get SEBI go-ahead for public offer
Upcoming IPOs: The Securities and Exchange Board of India (SEBI) has recently given the green light to five firms for their initial public offerings (IPOs), indicating a strong pipeline in the Indian capital markets. These approvals cover a variety of industries, such as renewable energy, financial services, steel production, specialty chemicals, jewelry, and logistics. Vikram Solar, a manufacturer of solar modules, is launching an IPO that consists of a fresh share issuance of up to ₹ 1,500 crore and an offer for sale (OFS) of approximately 17.45 million equity shares from promoters and the promoter group. The company intends to utilize the proceeds of ₹ 793.36 crore for capital investments via its wholly-owned subsidiary, VSL Green Power Pvt Ltd, to establish a 3,000-MW facility dedicated to solar cell and module production. Moreover, ₹ 602.95 crore has been allocated for the enhancement of the current solar module manufacturing facility, increasing its capacity from 3,000 MW to 6,000 MW, along with funds designated for general corporate needs. According to the draft documents, Shreeji Shipping Global Ltd's initial public offering, which offers shipping and logistics solutions for dry bulk cargo, consists solely of a new issuance of 2 crore equity shares. The firm intends to allocate ₹ 289.4 crore from the IPO proceeds to acquire supramax dry bulk carriers in the secondary market and plans to use an additional ₹ 19.5 crore for debt repayment. Dorf-Ketal Chemicals India plans to launch an IPO worth ₹ 5,000 crore, consisting of a fresh issuance of equity shares totaling up to ₹ 1,500 crore and an Offer for Sale (OFS) of shares valued at ₹ 3,500 crore by the Menon Family Holdings Trust, according to the draft documents. The fresh issue's proceeds, amounting to ₹ 829 crore, will be utilized to reduce the company's debt, while ₹ 333 crore will be invested in its subsidiary, Dorf Ketal Chemicals FZE, to settle or prepay its existing borrowings, and the remaining funds will be allocated for general corporate needs. A-One Steels India aims to raise ₹ 600 crore by issuing new equity shares, while the promoters plan to divest shares worth ₹ 50 crore through an Offer for Sale (OFS). The company intends to allocate the net proceeds from the fresh issue towards investing in its subsidiary, Vanya Steels Pvt Ltd, for the acquisition of machinery and equipment, expanding its manufacturing facilities, and investing in Group captive power for solar energy procurement. Additionally, A-One Steels will use the funds to settle debts and for general corporate needs. Shanti Gold International, a manufacturer of gold jewellery, is launching its first public offering, which comprises solely a fresh issue of 1.8 crore equity shares, according to the draft documents. The funds raised from the fresh issue amounting to ₹ 45.83 crore will be dedicated to establishing the facility in Jaipur; ₹ 190 crore is designated for meeting the company's increased working capital needs; ₹ 20 crore will go towards debt repayment, and a portion will be allocated for general corporate purposes. 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.
Economic Times
5 days ago
- Business
- Economic Times
The primary market puzzle: Too much, yet too little?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Typically, when primary markets are buzzing with palpable action, it is often a reflection of surging business confidence and economic momentum. When companies raise large sums of money through IPOs and QIPs (Qualified Institutional Placements), that new capital often flows into productive uses—new projects, capacity expansion, technology upgrades, and other capital the well-known multiplier effect of such investments, this can set off a virtuous cycle of economic growth. That is how usually the rub-off effect plays out for the economy from the robust primary flows. Is that the case now too?FY25 saw a remarkable surge in capital raising, with over ₹3.14 trillion mobilized through IPOs and QIPs—a level rarely seen before. In fact, it's hard to recall any prior instance when Indian markets saw such a deluge of primary fund inflows. It could very well be a historical the natural question is: Are we about to witness a new wave of economic growth, this time powered by private capex turn?Let's dive in to dig deeper to find the this exercise, all that we need to do is to go back and assess how the funds raised in the previous year translated into actual capital investments. In terms of fundraising from primary markets, FY24 was not far behind the year gone by (FY25).It was equally a blockbuster year in its own right - though the overall quantum was smaller compared to the surge seen in FY25, it still marked a significant uptick in the primary market led primarily by QIP Markets witnessed fundraising of over Rs 1.40tn from primary markets in the year FY24, predominantly driven by QIPs which constituted over 54% of the overall quantum. This much is well known. But what has not received the deserved attention is how these funds were utilized only a little over a quarter of the capital raised was actually deployed in new projects or any capacity expansion. A significant share went towards debt repayment and general-purpose corporate expenditure, while a substantial portion found its way into the hands of institutional investors or promoters through Offer for Sale ( OFS ) story is no different for FY25 with new capital projects receiving a meagre share of the overall fundraising. While this is good for the promoters and institutional investors, not so good for the economy. One doesn't need to go too far to understand this than to look at the much-trumpeted Hyundai IPO that happens to be the largest ever IPO India has seen. It was entirely an Offer for Sale(OFS) by the parent company, Hyundai Motor Company, involving the sale of a 17.5% stake in its Indian subsidiary. No new shares were issued, and the Indian entity did not receive any proceeds from the is not going to stop here. Looking at the pipeline of IPOs, the story is likely to follow a similar script even in the current year. Many more MNC promoters are lining up to tap into the premium valuation that India offers to cash out in a hurry, especially given their financial challenges back home. It is a question of time before the LGs and Whirlpools of the world swing into this seductive IPO/QIP what kind of multiplier impact it would have had on the growth if a larger share of the fundraising had gone into new capital projects. That much for the IPO intriguing—and somewhat concerning—that India Inc. has yet to fully unleash its animal spirits to invest in new projects and capacity expansion, especially at a time when the sun is clearly shining on the primary markets. For context, the share of private sector investment as a percentage of GDP has been stagnating around 11% for several was a brief glimmer of improvement in FY23, when this figure inched up to 12.3% from 11.4% in FY22. However, this momentum failed to sustain. Despite a booming primary market in FY24, private investment slipped back to 11.2% and is estimated to have further dipped below the 11% mark in FY25—the lowest in over a decade, excluding the Covid-induced slump of FY21 when it fell to 10%.Global surplus capacity in many commodities, persistent Chinese dumping and the ongoing tariff related uncertainties could be the factors that are keeping India Inc. hesitant when it comes to unleashing new projects. It is hard to blame India Inc for not doing its the subdued global outlook, these challenges are unlikely to recede any time soon. This means that the wait for the ever-elusive turn in the private capex cycle may be longer than previously hoped by the markets. While the market may continue to pin its hopes for a quicker turn, one needs to keep a tab on where the money gets utilized from the ever-increasing fund raise in the primary markets for any hints on such a turn. Interesting Times!(The author, ArunaGiri N is the Founder CEO & Fund Manager at TrustLine Holdings)(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
5 days ago
- Business
- Time of India
The primary market puzzle: Too much, yet too little?
Typically, when primary markets are buzzing with palpable action, it is often a reflection of surging business confidence and economic momentum. When companies raise large sums of money through IPOs and QIPs (Qualified Institutional Placements), that new capital often flows into productive uses—new projects, capacity expansion, technology upgrades, and other capital investments. Given the well-known multiplier effect of such investments, this can set off a virtuous cycle of economic growth. That is how usually the rub-off effect plays out for the economy from the robust primary flows. Is that the case now too? FY25 saw a remarkable surge in capital raising, with over ₹3.14 trillion mobilized through IPOs and QIPs—a level rarely seen before. In fact, it's hard to recall any prior instance when Indian markets saw such a deluge of primary fund inflows. It could very well be a historical first. So, the natural question is: Are we about to witness a new wave of economic growth, this time powered by private capex turn? Let's dive in to dig deeper to find the answers. Live Events For this exercise, all that we need to do is to go back and assess how the funds raised in the previous year translated into actual capital investments. In terms of fundraising from primary markets, FY24 was not far behind the year gone by (FY25). It was equally a blockbuster year in its own right - though the overall quantum was smaller compared to the surge seen in FY25, it still marked a significant uptick in the primary market led primarily by QIP . Markets witnessed fundraising of over Rs 1.40tn from primary markets in the year FY24, predominantly driven by QIPs which constituted over 54% of the overall quantum. This much is well known. But what has not received the deserved attention is how these funds were utilized subsequently. Surprisingly, only a little over a quarter of the capital raised was actually deployed in new projects or any capacity expansion. A significant share went towards debt repayment and general-purpose corporate expenditure, while a substantial portion found its way into the hands of institutional investors or promoters through Offer for Sale ( OFS ) route. The story is no different for FY25 with new capital projects receiving a meagre share of the overall fundraising. While this is good for the promoters and institutional investors, not so good for the economy. One doesn't need to go too far to understand this than to look at the much-trumpeted Hyundai IPO that happens to be the largest ever IPO India has seen. It was entirely an Offer for Sale (OFS) by the parent company, Hyundai Motor Company, involving the sale of a 17.5% stake in its Indian subsidiary. No new shares were issued, and the Indian entity did not receive any proceeds from the IPO. It is not going to stop here. Looking at the pipeline of IPOs, the story is likely to follow a similar script even in the current year. Many more MNC promoters are lining up to tap into the premium valuation that India offers to cash out in a hurry, especially given their financial challenges back home. It is a question of time before the LGs and Whirlpools of the world swing into this seductive IPO/QIP syndrome. Imagine, what kind of multiplier impact it would have had on the growth if a larger share of the fundraising had gone into new capital projects. That much for the IPO boom. It's intriguing—and somewhat concerning—that India Inc. has yet to fully unleash its animal spirits to invest in new projects and capacity expansion, especially at a time when the sun is clearly shining on the primary markets. For context, the share of private sector investment as a percentage of GDP has been stagnating around 11% for several years. There was a brief glimmer of improvement in FY23, when this figure inched up to 12.3% from 11.4% in FY22. However, this momentum failed to sustain. Despite a booming primary market in FY24, private investment slipped back to 11.2% and is estimated to have further dipped below the 11% mark in FY25—the lowest in over a decade, excluding the Covid-induced slump of FY21 when it fell to 10%. Global surplus capacity in many commodities, persistent Chinese dumping and the ongoing tariff related uncertainties could be the factors that are keeping India Inc. hesitant when it comes to unleashing new projects. It is hard to blame India Inc for not doing its due. Given the subdued global outlook, these challenges are unlikely to recede any time soon. This means that the wait for the ever-elusive turn in the private capex cycle may be longer than previously hoped by the markets. While the market may continue to pin its hopes for a quicker turn, one needs to keep a tab on where the money gets utilized from the ever-increasing fund raise in the primary markets for any hints on such a turn. Interesting Times! (The author, ArunaGiri N is the Founder CEO & Fund Manager at TrustLine Holdings)
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Business Standard
27-05-2025
- Business
- Business Standard
Fusion CX files IPO papers with Sebi; seeks to raise Rs 1,000 crore
Fusion CX proposes to utilize proceeds of the fresh issue to the tune of Rs 292 crore for payment of debt, Rs 75 crore towards investment in step-down subsidiaries Press Trust of India New Delhi Fusion CX Ltd, a customer experience service provider, has filed preliminary papers with Sebi seeking its nod to raise Rs 1,000 crore through an initial public offering (IPO). The Kolkata-headquartered firm's IPO comprises fresh issue of equity shares aggregating up to Rs 600 crore and an Offer for Sale (OFS) of equity shares valued Rs 400 crore, according to the draft red herring prospectus (DRHP) filed on Monday. The OFS comprises stake sale by promoters P N S Business Private Ltd and Rasish Consultants Private Ltd. Besides, the company may raise up to Rs 120 crore in a Pre-IPO placement round. If such an initiative is completed, the fresh issue size will be reduced. Fusion CX proposes to utilize proceeds of the fresh issue to the tune of Rs 292 crore for payment of debt, Rs 75 crore towards investment in step-down subsidiaries - Omind Technologies Inc and Omind Technologies Private Limited - for upgrading IT tools. Additionally, funds will be used for pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Fusion CX is a customer experience (CX) service provider delivering high-end, complex, and integrated CX services across multiple channels including voice, email, chat, social media and message, and focused on key verticals such as telecom, high-tech growth and travel, BFSI, retail and healthcare. Incorporated in 2004, Fusion CX blends deep domain expertise with a portfolio of proprietary AI tools to enable intelligent, multilingual, and omnichannel engagement at scale through a broad spectrum of generative AI-driven technologies that enhance customer engagement, operational efficiency, and digital transformation. It has developed a multilingual global network with 40 delivery centers spread across 15 countries as on December 31, 2024. On the financial front, Fusion CX reported a revenue from operations of Rs 991 crore and a profit after tax (PAT) of Rs 36 crore in FY24. Nuvama Wealth Management, IIFL Capital Services and Motilal Oswal Investment Advisors are the book running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
27-05-2025
- Business
- Mint
Stocks to watch: IndiGo, LIC, NMDC, Bharat Dynamics, Lupin, Tata Motors among shares in focus today
Shares of LIC, NMDC, Bharat Dynamics, Info Edge will remain in focus as companies will announce Q4 results today. Rakesh Gangwal, co-founder of InterGlobe Aviation, is planning to sell up to 3.4% of his stake in the company through a block deal, which could raise as much as ₹ 6,831 crore, according to sources. The shares will be offered at a floor price of ₹ 5,175 each—approximately 4.5% below the current market rate. The pharmaceutical company announced that it has signed a licensing and supply deal with SteinCares for its biosimilar Ranibizumab in Latin American markets, excluding Mexico and Argentina. Ranibizumab is used to treat various retinal conditions, such as age-related macular degeneration and diabetic macular edema. Online gaming firm Nazara Technology announced on Monday that it recorded a net profit of ₹ 4 crore in the fourth quarter of FY25, a significant rise from the ₹ 18 lakh it reported during the same period last year. Brainbees Solutions, the parent company of Firstcry, posted a net loss of ₹ 111 crore in the fourth quarter of FY25, a significant increase from the ₹ 43 crore loss recorded in the same quarter last year. Tata Motors contributed ₹ 38,892 crore in taxes and other payments worldwide in 2024–25, reflecting a 1% decrease from the ₹ 39,344 crore paid in FY24, as revealed in its first-ever Tax Transparency Report. Dabur's Board has given the green light for the merger of Sesa Care with the company. India's leading real estate developer is set to unveil its highly anticipated premium housing project in Mumbai within the next two weeks. The promoters of PG Electroplast plan to offload up to 5.62% of their stake through a block deal valued at ₹ 1,177 crore, setting a floor price of ₹ 740 per share. A 180-day lock-in period will apply to any additional share sales. The pharmaceutical company posted a consolidated revenue of ₹ 8,382.1 crore for the March quarter, reflecting an 11% increase compared to the same period last year, aligning closely with market expectations. Sagility B.V., the parent company of Sagility India Ltd., intends to divest up to 15.02% of its equity stake in the company via an Offer for Sale (OFS). 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.
