Latest news with #RedHerringProspectus
&w=3840&q=100)
Business Standard
a day ago
- Business
- Business Standard
Savy Infra IPO sees strong demand on Day 2; check subscription data, GMP
Savy Infra IPO subscription status: Savy Infra & Logistics continues to receive the favourable response for its initial public offering (IPO) on the second day of subscription. The public issue, which opened for subscription on July 21, has received the bids for 2,52,43,200 equity shares against 41,71,200 on offer, leading to an oversubscription of 6.05 times till around 2:18 PM on Tuesday, July 22, showed the NSE data. The public issue received the highest demand from the retail investors who oversubscribed the category reserved for them by nearly 7 times. This has been followed by the qualified institutional buyers (QIBs) of 6 times, and non-institutional investors (NIIs) of 4.5 times. Savy Infra IPO issue size, price band The public issue consists entirely of a fresh issue of 5.83 million equity shares aggregating up to ₹69.98 crore. The public issue is being offered at a price band of ₹120–144 per share and a lot size of 1200 shares. A retail investor can bid for a minimum of 2 lots (2,400 shares) and in multiples of 1200 shares thereafter, with a minimum investment of ₹2,88,000. Savy Infra IPO grey market premium (GMP) today The unlisted shares of Savy Infra were commanding a solid premium in the grey markets on Tuesday. According to the sources tracking grey market activities, the unlisted shares of the company were trading at around ₹141 per share, reflecting a grey market premium (GMP) of ₹21 or 17.50 per cent over the upper end of the issue price of ₹120, revealed the sources tracking unofficial market activities. Savy Infra IPO objective According to the company's Red Herring Prospectus (RHP), the company will utilise the funds raised through the IPO for funding working capital requirements of the company as well as for general corporate purposes. Savy Infra IPO allotment date, listing date The three-day subscription window will close on July 23. The basis of share allotment is expected to be finalised on July 24, with shares credited to successful applicants' demat accounts on July 25. Savy Infra shares are scheduled to list on the NSE SME platform on July 28, 2025. Savy Infra IPO registrar, lead manager Maashitla Securities is acting as the registrar to the issue, while Unistone Capital is serving as the sole book-running lead manager. About Savy Infra & Logistics Savy Infra & Logistics is an Engineering, Procurement and Construction (EPC) company focused on earthwork and foundation preparation for infrastructure projects such as road construction, embankments, sub-grade preparation, granular sub-bases, and bituminous or concrete surfaces. Over the years, the company has gradually expanded from supplying quartzite for infrastructure projects to providing a range of services, including excavation, grading, utility work, and paving. Initially focused on earthwork and foundation activities, the company has also extended its expertise to managing the logistics of excavated materials, ensuring their efficient transportation and disposal.
&w=3840&q=100)
Business Standard
a day ago
- Business
- Business Standard
Indiqube Spaces IPO opens on July 23: check key strengths, risks from RHP
Indiqube Spaces IPO: Workplace solutions provider Indiqube Spaces is set to launch its Initial Public Offering (IPO) on Wednesday, July 23, 2025. The public issue comprises a fresh issue of 27.4 million shares aggregating to ₹650 crore, and an offer for sale (OFS) with promoters divesting up to 2.1 million shares worth ₹50 crore. Indiqube Spaces IPO will be offered at a price band of ₹225-237 per share. The minimum application size has been set at 63 shares per lot. The issue will remain available until July 25. The company's shares are tentatively scheduled to make their D-Street debut on July 30, 2025. It is worth noting that Indiqube Spaces will not receive any proceeds from the IPO. All the funds raised will go directly to the selling promoters, after accounting for offer-related expenses and applicable taxes, which will be borne by the respective sellers. Indiqube Spaces, however, proposes to use the fresh proceeds for funding capital expenditure towards establishment of new centers, repayment/pre-payment, in full or in part, of certain borrowings availed by the company, as well as for general corporate purposes. As investors await the opening of Indiqube Spaces IPO, here are the key strengths and risks outlined in its Red Herring Prospectus (RHP) that every investor should be aware of: Key Strengths of Indiqube Spaces One of the leading players in flexible workspace market: The company is well-positioned to benefit and capture the growth in the flexible workspace segment. The company's comprehensive footprint spans 15 cities, including eight Tier-I and seven non-Tier I cities as of March 31, 2025. With over 186,719 seats in 115 centers, Indiqube Spaces offers a comprehensive portfolio that spans workspace leasing and VAS, such as interior design, facility management, and technology-enabled solutions. Acquisition strategy: The company renovates and upgrades older Grade-B properties in central business districts, transforming them into technology-enabled workspaces. As of March 31, 2025, renovated centers make up 25.22 per cent of its total portfolio. Prudent business management practices: The company concentrates on leasing large to midsized full buildings over fractional spaces and as of March 31, 2025, 64.71 per cent of its portfolio consists of full buildings. A large number of its properties are in hub and spoke clusters resulting in concurrent allocation of manpower and resources. Capital efficient model: The company has strategically adopted an asset-light model, focusing on leasing rather than owning properties. This model allows the company to secure 10-year leases with a three-year lock-in period, extendable for another 10 years, ensuring flexibility and control in its arrangements with lessors. The company maintains termination rights in its leases, providing adaptability and risk mitigation in changing market conditions. Experienced leadership: Indiqube Spaces is led by experienced promoters and a professional management team with experience in the workspace industry and a proven track record of performance. The comapny's promoters are Rishi Das, Meghna Agarwal, and Anshuman Das. Rishi Das, an alumnus of IIT Roorkee, is its Chief Executive Officer and has diverse entrepreneurial experience of over two and a half decades. Key risks for Indiqube Spaces Financial performance, future profitability risks: IndiQube Spaces has experienced losses over the last three fiscal years and may continue to incur losses in the future, which could have an adverse impact on its business, operating results, and cash flows. Exposure to real estate market fluctuations: The company's business is sensitive to fluctuations in the real estate market. It has witnessed a decline in occupancy rates—from 83.68 per cent as of March 31, 2023, to 80.21 per cent as of March 31, 2024. Variations in commercial property prices may significantly affect leasing costs, potentially impacting overall profitability. Risks related to property ownership: IndiQube does not own the properties where its centers are located. Any defects in property title or ownership may lead to the closure of centers, relocation expenses, and termination of client agreements, all of which could negatively affect the company's business, financial condition, and operational results. Uncertainty in development plans for new centers: The company has not yet finalised the exact locations for new centers intended to be developed using the net proceeds from the offer. Impact of changing work culture trends: Evolving work culture trends—such as the growing adoption of remote and hybrid working models—could reduce the demand for plug-and-play workspaces, thereby adversely affecting the company's business, cash flows, and financial condition. About Indiqube Spaces Indiqube Spaces is a managed workplace solutions company offering comprehensive, sustainable, and technology-driven workplace solutions dedicated to transforming the traditional office experience. Its diverse solutions range from providing large corporate offices (hubs) to small branch offices (spokes) for enterprises and transforming the workplace experience of their employees by combining interiors, amenities, and a host of value-added services.
Mint
a day ago
- Business
- Mint
Brigade Hotel Ventures IPO: Check out 10 key things to know from RHP before investing
Brigade Hotel Ventures IPO date of subscription is scheduled for Thursday, July 24, and will close on Monday, July 28. Brigade Hotel Ventures IPO price band has been set in the range of ₹ 85 to ₹ 90 per equity share of the face value of ₹ 10. Brigade Hotel Ventures has set aside 75% of the shares in its public offering for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 10% is designated for retail investors. An allocation of equity shares worth ₹ 75.96 million has been reserved for employees. Additionally, equity shares valued at ₹ 303.84 million have been set aside for shareholders of Brigade Enterprises Ltd (BEL). Brigade Hotel Ventures' initial public offering consists solely of a new issuance of equity shares without any offer-for-sale (OFS) portion. Of the total funds raised, ₹ 468.14 crore is set aside for paying off debts, ₹ 107.52 crore is earmarked for purchasing an undivided share of land from the promoter, BEL, and the rest of the money will be allocated to acquisitions, several strategic initiatives, and general corporate purposes. Brigade Hotel Ventures IPO GMP today is +17. This indicates Brigade Hotel Ventures share price was trading at a premium of ₹ 17 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Brigade Hotel Ventures share price was indicated at ₹ 107 apiece, which is 18.89% higher than the IPO price of ₹ 90. Here are 10 key things from the Red Herring Prospectus (RHP) that investors might want to know before subscribing to the issue. Brigade Enterprises Ltd serves as the promoter of the company. BEL possesses 281,430,000 equity shares with a face value of ₹ 10 each in their company, which accounts for 95.26% of the pre-Issue issued, subscribed, and paid-up equity share capital of the company. The company's listed peers are The Indian Hotels Company Limited (with a P/E of 56.06), EIH Limited (with a P/E of 32.20), Chalet Hotels Limited (with a P/E of 136.63), Juniper Hotels Limited (with a P/E of 99.48), Lemon Tree Hotels Limited (with a P/E of 62.04), Samhi Hotels Limited (with a P/E of 62.75), Apeejay Surendra Park Hotels Limited (with a P/E of 42.05), Ventive Hospitality (with a P/E of 115.58), ITC Hotels (with a P/E of 78.20), and Schloss Bangalore Limited (with a P/E of 229.34). Brigade Hotel Ventures specializes in owning and developing hotels in major cities across South India. As of March 31, 2025, they rank as the second-largest owner of chain-affiliated hotels and hotel rooms in South India, which includes the states of Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories of Lakshadweep, Andaman and Nicobar Islands, and Pondicherry, among significant private hotel asset owners (those owning at least 500 rooms nationwide), according to the Horwath HTL Report. Their parent company, Brigade Enterprises Limited (BEL), ventured into the hospitality sector in 2004 by launching their first hotel, Grand Mercure Bangalore, which began operations in 2009. The firm boasts a collection of nine active hotels located in Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka), and the GIFT City (Gujarat), totaling 1,604 keys. The firm consists of the following Group Companies: BCV Developers Private Limited; Brigade Flexible Office Spaces Private Limited; Brigade (Gujarat) Projects Private Limited; Brigade Hospitality Services Limited; Brigade Properties Private Limited; Mysore Holdings Private Limited; Perungudi Real Estates Private Limited; SRP Gears Private Limited; Subramanian Engineering Limited; and WTC Trades & Projects Private Limited. The board of the company consists of seven members, including one Managing Director, two Non-Executive and Non-Independent Directors, and four Independent Directors. As of the date of this red herring prospectus, the company has two women serving as Directors on its Board. As of 31 March 2025, India boasts 204,000 hotel rooms affiliated with chains, spread across various segments. The market for independent hotels remains highly fragmented, primarily consisting of midscale or lower-tier establishments. Over the years, the composition of supply has changed, resulting in a more diverse and balanced distribution across segments, with the Luxury-Upper Upscale categories accounting for 33.9% of the supply share, 38.4% for the Upscale - Upper Midscale categories, and 27.7% for the Midscale-Economy segments as of 31 March 2025. The geographic distribution of hotels is also expanding. The share of supply in key markets (Mumbai, Delhi-NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune, Ahmedabad, Goa, and Jaipur) has decreased from 69% in Fiscal 2015 to 57% in fiscal 2025, and it is projected to drop to 49% by fiscal 2030; 66% of the expected supply between fiscal 2026 and fiscal 2030 is anticipated to emerge outside these key markets. The company's profit fell by 24%, totaling ₹ 23.7 crore in FY25, down from ₹ 31.14 crore the year before. At the same time, revenue for this period increased by 16.6%, growing to ₹ 468.3 crore from ₹ 401.7 crore. Some of the key risks are as follows; The company has entered into agreements for hotel operator services and related contracts with Marriott, Accor, and InterContinental Hotels Group to obtain operating and marketing support for their hotels. In Fiscal 2025, two hotels managed by Marriott accounted for 43.81% of their operating revenue. If these agreements are canceled or not renewed, it could negatively impact their business, operational results, financial health, and cash flows. The company employs a significant number of staff across its hotels, which may lead to exposure to service-related claims and losses or employee disruptions that could harm their reputation, business, operational results, financial health, and cash flows. The employee turnover rate in Fiscal 2025 was 58.19%. A 90-day lock-in period will apply to 50% of the equity shares allocated to the anchor investors starting from the date of allotment, while a 30-day lock-in will pertain to the other 50% of the equity shares allotted to the anchor investors from the same date of allotment. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Swastika Castal IPO sees high demand on Day 1; check subscription data, GMP
The initial public offering (IPO) of aluminum casting player, Swastika Castal, has received decent demand among investors and got fully subscribed on the first day of subscription. The public offering has received bids for 23,62,000 equity shares against 21,62,001 shares on offer, resulting in an oversubscription of 1.09 times till 2:25 PM on Monday, July 21, according to data from the BSE. Swastika Castal IPO issue size, price band The ₹14.07 crore public issue consists entirely of a fresh issue of 2.16 million equity shares. The public issue is being offered at ₹65 per share, with a lot size of 2,000 shares. A retail investor can bid for a minimum of 2 lots (4,000 shares) and in multiples of 2,000 shares thereafter, with a minimum investment of ₹2,60,000. Swastika Castal IPO grey market premium (GMP) today In the grey market, the company's unlisted shares were trading flat around ₹65 per share, the same as the IPO price, according to sources tracking grey market activities. Thus, the grey market premium (GMP) of Swastika Castal IPO remains nil on Monday. Swastika Castal IPO objective According to the company's Red Herring Prospectus, the funds raised through the IPO will be used for capital expenditure for acquisition of plant & machinery and construction of shed & building. The company will also use the proceeds for general corporate purposes. Swastika Castal IPO allotment date, listing date The three-day subscription window will close on July 23. The basis of share allotment is expected to be finalised on July 24, with shares credited to successful applicants' demat accounts on July 25. Swastika Castal shares are scheduled to list on the BSE SME platform on July 28, 2025. Swastika Castal IPO registrar, lead manager Accurate Securities & Registry is acting as the registrar to the issue, while Horizon Management is serving as the sole book-running lead manager. About Swastika Castal Established in 1996, Swastika commenced operations with the objective of aluminum casting by setting up a foundry, which was a very unique concept at that time. Presently, the company has advanced machining, inspection, and testing facilities in India, backed by an efficient team of metallurgists and professionals. The company now supplies castings as original equipment (ready-to-use components) to reputed companies in India and also exports to parts of Europe and the USA.
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Monika Alcobev IPO allotment today; check status, GMP, likely listing date
Monika Alcobev IPO allotment status: The basis of allotment of shares for Monika Alcobev is expected to be finalised today, Monday, July 21, 2025. The initial public offering (IPO) of Monika Alcobev received a decent response from investors, being oversubscribed nearly 3.78 times by the end of the subscription window on Wednesday, July 18, according to data available on the BSE. Here's how to check the Monika Alcobev IPO allotment status online Once the Monika Alcobev IPO allotment is finalised, investors can check their status on the official websites of the BSE and MUFG Intime India (erstwhile Link Intime), the registrar for the IPO. Alternatively, investors can also use the following direct links to check the Monika Alcobev IPO allotment status online: Check Monika Alcobev IPO allotment status on BSE: Monika Alcobev IPO details The SME offering, valued at around ₹165.63 crore, comprises a fresh issue of 4.8 million equity shares worth ₹137.03 crore and an offer for sale (OFS) of 1 million shares worth ₹28.60 crore. The public issue was open for subscription from Wednesday, July 16, 2025, to Friday, July 18, 2025. It was offered at a price band of ₹271–286 per share, with a lot size of 400 shares. MUFG Intime India is serving as the registrar, while Marwadi Chandarana Intermediaries acts as the sole book-running lead manager for the IPO. The company, in its Red Herring Prospectus (RHP), has said that it will not receive any proceeds from the OFS, which will be given to shareholders divesting their stakes through the public issue. Monika Alcobev, however, proposes to utilise the proceeds from the fresh issue for repayment and prepayment of certain outstanding borrowings, as well as to fund working capital requirements. The company will further use the proceeds for general corporate purposes. Monika Alcobev IPO grey market premium (GMP), listing estimate As of Monday, July 21, the unlisted shares of Monika Alcobev were trading flat at ₹286 per share in the grey market, according to sources tracking unofficial market activity. As a result, the grey market premium (GMP) remains nil on Monday. Shares of Monika Alcobev are tentatively expected to list on the BSE SME platform on Wednesday, July 23, 2025. The current GMP trend suggests a flat listing for the company's shares. However, it is important to note that GMP is an unregulated market indicator and should not be relied upon for assessing the company's actual market performance. About Monika Alcobev Monika Alcobev imports and distributes luxury alcoholic beverages in India and the Indian subcontinent. The company offers over 70 premium brands, including Jose Cuervo and Bushmills. Monika Alcobev operates in several countries, including India, Nepal, and Sri Lanka. The company serves sectors such as HORECA, retail, and travel retail. Monika Alcobev has bonded warehouses, ensuring efficient supply chain management.
