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Economic Times
3 days ago
- Business
- Economic Times
Scoda Tubes IPO subscribed 53 times on final day of bidding
New Delhi, The initial public offer of stainless-steel tubes and pipes manufacturer Scoda Tubes received 53.78 times subscription on the closing day of bidding on Friday. ADVERTISEMENT The initial share sale got bids for 63,70,52,700 shares against 1,18,46,169 shares on offer, as per NSE data. The category for non-institutional investors fetched 113.03 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 69.51 times. The quota for Retail Individual Investors (RIIs) received 19.39 times subscription. Scoda Tubes on Tuesday raised Rs 66 crore from anchor investors. The Gujarat-based company's IPO is entirely a fresh issue of equity shares, aggregating up to Rs 220 crore with no offer for sale (OFS) component. The issue has a price band of Rs 130-140 per share. ADVERTISEMENT Proceeds of the issue will be used to expand the production capacity of seamless and welded tubes and pipes, working capital requirements and general corporate purposes. The company is a stainless-steel tubes and pipes manufacturer, catering to a diverse range of customers like EPC, and industrial companies engaged in oil and gas, chemicals, fertilisers, power, etc. Monarch Networth Capital is the book-running lead manager to the IPO. (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
5 days ago
- Business
- Business Standard
Prostarm Info Systems IPO receives 12.65x subscription on day-2 of offer
The Rs 168-crore initial share sale of integrated power solution company Prostarm Info Systems received 12.65 times subscription on day two of the bidding on Wednesday. The initial public offering (IPO) received bids for 14,16,94,842 shares, as against 1,12,00,000 shares on offer, as per NSE data. The non institutional investors category got subscribed 27.23 times, while the quota for Retail Individual Investors (RIIs) fetched 13.04 times subscription. The Qualified Institutional Buyers (QIBs) part received 1.03 times subscription. The IPO has a fresh issue of 1.6 crore equity shares. The price band for the offer is fixed at Rs 95-105 per share. Prostarm Info Systems intends to utilise Rs 72.50 crore of the total IPO proceeds towards funding capital requirements of the company, Rs 17.95 crore for payment of debt and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives as well as for general corporate purposes. The company is an integrated power solution provider, especially in UPS system lithium-ion battery pack and third-party power solution products, among others. It caters to a range of industries, including healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil & gas. It manufactures several power solution products under the Prostarm brand, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers. The firm operates three manufacturing facilities in Maharashtra. The company catered to more than 700 clients during FY24, including Larsen & Toubro Ltd, Tata Power Co. Ltd and Bajaj Finance Ltd. The company's shares will be listed on the BSE and NSE. Choice Capital Advisors is the book running lead manager, and Kfin Technologies Ltd is the registrar to the offer. (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.)
Time of India
6 days ago
- Business
- Time of India
Prostarm Info Systems IPO receives 12.65 times subscription on day-2 of offer
New Delhi: The ₹168-crore initial share sale of integrated power solution company Prostarm Info Systems received 12.65 times subscription on day two of the bidding on Wednesday. The initial public offering (IPO) received bids for 14,16,94,842 shares, as against 1,12,00,000 shares on offer, as per NSE data. The non institutional investors category got subscribed 27.23 times, while the quota for Retail Individual Investors (RIIs) fetched 13.04 times subscription. The Qualified Institutional Buyers (QIBs) part received 1.03 times subscription. The IPO has a fresh issue of 1.6 crore equity shares. The price band for the offer is fixed at ₹95-105 per share. Prostarm Info Systems intends to utilise ₹72.50 crore of the total IPO proceeds towards funding capital requirements of the company, ₹17.95 crore for payment of debt and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives as well as for general corporate purposes. The company is an integrated power solution provider, especially in UPS system lithium-ion battery pack and third-party power solution products, among others. It caters to a range of industries, including healthcare, aviation, research, BFSI, railways, defence, security, education, renewable energy, information technology and oil & gas. It manufactures several power solution products under the Prostarm brand, such as UPS systems, inverter systems, lift inverter systems, solar hybrid inverter systems, lithium-ion battery packs, servo-controlled voltage stabilisers, and isolation transformers. The firm operates three manufacturing facilities in Maharashtra. The company catered to more than 700 clients during FY24, including Larsen & Toubro Ltd, Tata Power Co. Ltd and Bajaj Finance Ltd. The company's shares will be listed on the BSE and NSE. Choice Capital Advisors is the book running lead manager, and Kfin Technologies Ltd is the registrar to the offer.
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Business Standard
23-05-2025
- Business
- Business Standard
Borana Weaves IPO allotment today; check status, GMP, listing date
Borana Weaves IPO allotment status: The basis of allotment for the Borana Weaves IPO shares is likely to be finalised today, Friday, May 23, 2025. The public offering closed for subscription on Thursday, May 22, 2025, receiving overwhelming participation from investors and getting oversubscribed by 148.78 times. Once the Borana Weaves IPO allotment is finalised, investors can check their status on the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue. Alternatively, investors can use the following links to check the Borana Weaves IPO allotment status directly: Borana Weaves IPO final subscription status The ₹144.89 crore public offering of Borana Weaves, offered at a price band of ₹205–216 with a lot size of 69 shares, received bids for 54,89,17,425 shares against the 36,89,457 shares offered. This led to an oversubscription of 148.78 times by the end of the subscription period, according to data available on the BSE. Borana Weaves IPO witnessed the highest participation from the Non-Institutional Investors (NIIs), who subscribed to 237.42 times the portion reserved for them, Retail Individual Investors (RIIs) at 200.53 times, and Qualified Institutional Buyers (QIBs) at 87.21 times. Borana Weaves IPO grey market premium (GMP) today The unlisted shares of Borana Weaves continue to command a strong premium in the grey market on Friday. Sources tracking unofficial market activities revealed that Borana Weaves shares were seen trading at around ₹256 per share, reflecting a grey market premium (GMP) of ₹40 or 18.52 per cent over the upper end of the issue price. Borana Weaves IPO likely listing price Shares of Borana Weaves are scheduled to list on the BSE and NSE on Tuesday, May 27, 2025. Should the current grey market trends sustain, Borana Weaves shares may list at around ₹256 per share, yielding a return of 18.5 per cent. However, these estimates may vary, as the grey market is unregulated, and GMP should not be considered a reliable indicator of performance. About Borana Weaves Borana Weaves specialises in manufacturing unbleached synthetic grey fabric, a key input for dyeing, printing, and finishing across industries like fashion, traditional technical textiles, interior design, and home décor. It also produces polyester textured yarn (PTY), derived from polyester oriented yarn (POY), which is used in grey fabric production, ensuring vertical integration within its textile operations.
News18
29-04-2025
- Business
- News18
Ather Energy IPO Day 2: Check Subscription Status, Latest GMP Before Investing
Last Updated: Ather Energy IPO: Ather Energy's IPO saw a 16% subscription rate on day one. The price band is Rs 304-321 per share. Ather Energy IPO: The initial public offering (IPO) of electric vehicle manufacturer Ather Energy has garnered a tepid response so far from investors. According to data available on the NSE, the Rs 2,981.06 crore offering, which opened on April 28, has attracted bids for 86,09,406 equity shares, against the 5,33,63,160 shares on sale, reflecting a 16 percent subscription rate by the end of the first day, April 28. The three-day subscription window for Rs 2,980.76 crore public issue will remain available until April 30, 2025. With the issue, Ather Energy will offload fresh shares of 8,18,06,853 (totaling up to Rs 2,626.76 crore) and offer for sale of 1,10,51,746 shares (totaling of Rs 2,980.76 crore). Ather Energy IPO Subscription Status The Qualified Institutional Buyers (QIB) category, which had over 2.89 crore shares reserved, saw virtually no traction—only 5,060 shares were bid for, translating to a subscription of 0.00 times. Meanwhile, the Retail Individual Investors (RIIs) category showed relatively stronger interest, subscribing 63% of the 97.34 lakh shares reserved for them. Non-Institutional Investors (NIIs) managed to subscribe 0.16 times overall. Ather Energy IPO Price Band IPO price band is fixed between Rs 304 to Rs 321 per share. There's an employee discount of Rs 30 per share. Ather Energy IPO GMP Falls The grey market premium of Ather Energy is falling continuously, indicating a dampening interest among investors for the IPO amid market volatility. According to various websites tracking GMP, Ather IPO's stands in the range of Rs 1-3 on April 29, which is a major fall from once Rs 40 on April 22. The allotment of unlisted shares of Ather Energy IPO will be finalised on Friday, May 02, 2025. The tentative listing date is scheduled to be on Tuesday, May 06, 2025 on BSE and NSE. Ather Energy Limited, incorporated in 2013, is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. The company operates as a vertically integrated EV manufacturer with a focus on product and technology development. Ather Energy Financials As of December 31, 2024, the company's assets stood at Rs 2,172 crore, up from Rs 818.6 crore in March 2022. Revenue increased from Rs 413.8 crore in FY22 to Rs 1,617.4 crore in the nine months ended December 2024, indicating strong sales momentum. However, the company continues to report losses, with a net loss of Rs 577.9 crore for the nine-month period ending December 2024, compared to a loss of Rs 1,059.7 crore in FY24 and Rs 864.5 crore in FY23. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published: April 29, 2025, 09:02 IST
