Page 2 - Ipo Update News Today

The company is the fifth largest nonbanking microfinance company in the country. It has shown a stellar growth in the loan book over the past three years.

The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO.

About 50% of the offer will be available for allocation on a proportionate basis to qualified institutional buyers (QIBs), 15% for non-institutional bidders and 35% for retail investors. The proceeds to the extent of Rs 80.75 crore will be used for funding working capital requirements and general corporate expenses.

According to the draft papers, the proposed IPO of Apeejay Surrendra Park Hotels comprises a fresh issue of equity shares worth Rs 650 crore and an offer for sale (OFS) of equity shares to the tune of Rs 400 crore by promoters and investor shareholders.

The company had filed its DRHP in March this year and received approval from the regulator in September. In October, the Jaipur-based retail jeweller raised Rs 33 crore in its pre-IPO funding round.

About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

The company had filed its DRHP in March this year and received approval from the regulator in September. In October, the Jaipur-based retail jeweller raised Rs 33 crore in its pre-IPO funding round.

The Hiranandani Group does not have any plans for an Initial Public Offering in 2024, and may look at hitting the capital markets in 2025,

In Sebi’s parlance, obtaining observation letters means its go-ahead to launch the IPO.

Mumbai headquartered Gandhar Oil Refinery is manufacturer of white oil, a crude oil derivative used as a base carrier to manufacture personal care products, ointment, and hair oil. It has a market share of over 26% in the local market.