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Time of India
4 days ago
- Business
- Time of India
The Leela Hotels, Aegis Vopak Terminals shares surge up to 10% post listing. What should investors do now?
Shares of Aegis Vopak Terminals and The Leela Hotels (Schloss Bangalore) rebounded up to 10% on the BSE after a weak listing on Monday. Aegis Vopak Terminals listed at Rs 220, a 6.4% discount to its IPO price of Rs 235. However, the stock quickly bounced back, hitting the 10% upper circuit at Rs 241.95. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why Seniors Are Snapping Up This TV Box, We Explain! Techno Mag Learn More Undo Schloss Bangalore, which owns and operates luxury properties under the iconic "The Leela" brand, debuted at Rs 406 on the NSE and Rs 406.50 on the BSE, a discount of about 6.6% from the issue price of Rs 435. It later surged nearly 7% to reclaim the IPO price level. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Expert View "Aegis Vopak Terminals listed at a discount due to muted investor enthusiasm despite strong institutional backing. With the retail and HNI segments under-subscribed, concerns around valuation were evident. Long-term investors may wait for further consolidation before entering, given the company's robust expansion outlook," said Satish Chandra Aluri of Lemonn Markets Desk. Live Events On The Leela Hotels, Aluri added, 'Despite the strength of its brand and institutional interest, retail and HNI participation remained weak. The flat grey market premium had already signaled a subdued listing. Valuation concerns continue to weigh on investor sentiment.' Aegis Vopak Terminals IPO Details The IPO, entirely a fresh issue of 11.91 crore shares, was subscribed 2.09 times overall, driven by Qualified Institutional Buyers (QIBs), whose quota was subscribed 4.34 times. In contrast, the non-institutional investor (NII) and retail portions were subscribed just 0.32 and 0.70 times, respectively. Aegis Vopak Terminals is a joint venture between Aegis Logistics and Netherlands-based Royal Vopak. The company operates LPG and liquid storage terminals at five major Indian ports—Haldia, Kochi, Mangalore, Pipavav, and Kandla—with a total capacity of 1.5 million cubic meters for liquids and 70,800 MT for LPG. The Leela Hotels IPO Details The Leela Hotels IPO comprised a fresh issue worth Rs 2,500 crore and an offer for sale of Rs 1,000 crore. The issue was subscribed 2.62 times overall, with QIBs bidding 4.34 times their allotment. Retail and HNI participation lagged at 0.70 and 0.32 times, respectively. Backed by Brookfield-managed funds, the company owns five luxury hotels across Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. It also manages several other Leela-branded properties, with a total operational portfolio of 12 hotels and 3,382 keys, positioning it among India's largest luxury hospitality operators. Proceeds from the fresh issue will be used to repay borrowings at key group properties and for general corporate purposes.
Economic Times
30-04-2025
- Business
- Economic Times
Sebi mulls mandatory demat account for existing shareholders, promoters ahead of IPOs
New Delhi, Markets regulator Sebi on Wednesday proposed mandating select shareholders, including directors, key managerial personnel and current employees, to hold shares in demat form before filing an initial public offering (IPO) document. These measures, if implemented, will help eliminate inefficiencies and risks associated with physical share certificates, including loss, theft, forgery, and delays in transfer and settlement. ADVERTISEMENT Presently, ICDR regulations mandate that all specified securities held by promoters must be in dematerialised form before the filing of the offer document. "In spite of several regulatory mandates and facilitation mechanisms being in place, there remains a significant volume of holding of physical shares even among critical pre-IPO shareholders, such as directors, Key Managerial Personnel (KMPs), senior management, selling shareholders, and even Qualified Institutional Buyers (QIBs). This leaves a regulatory gap that allows a good volume of physical shares to continue existing post-listing," Sebi said in its consultation paper. To address the concerns, Sebi proposed that the existing regulatory requirement be expanded. An issuer making an IPO will have to ensure that all its specified securities held by the promoter group, selling shareholders, directors, key managerial personnel, senior management, Qualified Institutional Buyers (QIBs), domestic current employees and shareholders, who have special rights are in dematerialised form prior to the filing of the offer document, Sebi suggested. Additionally, it has been suggested that registered stock brokers, non-systemically important non-banking financial companies (NBFCs), and any other regulated entities that hold specified securities will be required to have such holding in dematerialised form before the filing of the offer document. The Securities and Exchange Board of India (Sebi) has sought public comments on the proposal till May 20. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
30-04-2025
- Business
- Time of India
Sebi mulls mandatory demat account for existing shareholders, promoters ahead of IPOs
New Delhi, Markets regulator Sebi on Wednesday proposed mandating select shareholders, including directors, key managerial personnel and current employees, to hold shares in demat form before filing an initial public offering ( IPO ) document. These measures, if implemented, will help eliminate inefficiencies and risks associated with physical share certificates, including loss, theft, forgery, and delays in transfer and settlement. Presently, ICDR regulations mandate that all specified securities held by promoters must be in dematerialised form before the filing of the offer document. "In spite of several regulatory mandates and facilitation mechanisms being in place, there remains a significant volume of holding of physical shares even among critical pre-IPO shareholders, such as directors, Key Managerial Personnel (KMPs), senior management, selling shareholders, and even Qualified Institutional Buyers (QIBs). This leaves a regulatory gap that allows a good volume of physical shares to continue existing post-listing," Sebi said in its consultation paper. To address the concerns, Sebi proposed that the existing regulatory requirement be expanded. An issuer making an IPO will have to ensure that all its specified securities held by the promoter group, selling shareholders, directors, key managerial personnel, senior management, Qualified Institutional Buyers (QIBs), domestic current employees and shareholders, who have special rights are in dematerialised form prior to the filing of the offer document, Sebi suggested. Live Events Additionally, it has been suggested that registered stock brokers, non-systemically important non-banking financial companies (NBFCs), and any other regulated entities that hold specified securities will be required to have such holding in dematerialised form before the filing of the offer document. The Securities and Exchange Board of India (Sebi) has sought public comments on the proposal till May 20.
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Business Standard
29-04-2025
- Business
- Business Standard
Retail investors drive demand for Ather Energy IPO, QIBs lag behind
Ather Energy IPO subscription status: Retail investors rushed to subscribe to the Ather Energy's initial public offering (IPO) on the second day of the subscription period, fully subscribing to the category reserved for them on Tuesday, April 29. Meanwhile, the quotas reserved for Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) still lag behind. Notably, the public issue, which opened for subscription on April 28, has received a lacklustre response from investors so far, garnering bids for 1,28,72,594 equity shares against 5,33,63,160 on offer, leading to a total subscription of just 24 per cent by 2:11 PM on Tuesday. Among the individual categories, the quota reserved for employees received the highest participation and was subscribed 2.84 times. Retail investors subscribed 1.01 times their reserved category, NIIs subscribed to 19 per cent of theirs. QIBs, on the other hand, showed the lowest interest and placed bids for only 6,992 shares against the 2,89,27,363 shares reserved for them. Ather Energy IPO details Ather Energy IPO is a combination of fresh issue of 81.80 million equity shares and an offer for sale (OFS) with promoters and shareholders divesting up to 11.05 million equity shares of the company. The public issue is available at a price band of ₹304–₹321 per share, and the lot size is 46 shares. Accordingly, investors can bid for a minimum of 46 shares and in multiples thereof. Taking the upper price band into consideration, a retail investor will require a minimum of ₹14,766 to bid for one lot of 46 shares and ₹1,91,958 to bid for a maximum of 13 lots or 598 shares. Ather Energy IPO grey market premium (GMP) today The unlisted shares of Ather Energy were trading at around ₹322.50 per share in the grey market, according to sources tracking unofficial market activities. This reflects a grey market premium (GMP) of ₹1.50 or 0.47 per cent over the upper end of the issue price. ALSO READ | Should you subscribe to the Ather Energy IPO? Brokerages broadly remain optimistic about the long-term prospects of Ather Energy. Analysts at Arihant Capital and Ventura Securities have recommended subscribing to the Ather Energy IPO for listing gains. Meanwhile, Geojit and Bajaj Broking have advised subscribing for the long term. On the other hand, Deven Choksey Research has recommended avoiding the public offering, suggesting that it may be available at an attractive valuation in the secondary market. Ather Energy IPO timeline The public subscription window for the Ather Energy IPO is slated to close tentatively on April 30, 2025. Following the closure of the subscription window, the basis of allotment is likely to be finalised on May 2, 2025. Successful investors will receive the company's shares in their demat accounts tentatively on Monday, May 5, 2025. Shares of Ather Energy are scheduled to make their D-Street debut on May 6, 2025, by listing on both NSE and BSE. Ather Energy IPO objective Ather Energy will not receive any proceeds from the offer for sale, as these will go to the promoters divesting their stake. However, the company plans to use the proceeds from the fresh issue for capital expenditure related to the establishment of an electric two-wheeler (E2W) factory in Maharashtra, India. Additionally, the proceeds will be used for repayment/pre-payment of certain borrowings, investment in research and development, marketing initiatives, and general corporate purposes. Ather Energy IPO registrar, lead managers Link Intime India is acting as the registrar for the public offering, while Axis Capital, HSBC Securities & Capital Markets, JM Financial, and Nomura Financial Advisory and Securities (India) are the book-running lead managers. ALSO READ | About Ather Energy Incorporated in 2013, Ather Energy is a pioneer in the Indian electric two-wheeler (E2W) market. It is a pure-play EV company that sells E2Ws and an associated product ecosystem, which includes software, charging infrastructure, and smart accessories — all conceptualized and designed by the company in India. Apart from battery packs, which are manufactured in-house, and portable chargers and motors, which are designed and manufactured by suppliers, other key E2W components such as motor controllers, transmissions, vehicle control units, dashboards, DC-DC converters, harnesses, and chassis are designed in-house and outsourced to suppliers for manufacturing.
