Page 11 - Ipo Update News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Greenchef Appliances is set to launch its initial public offering (IPO) on 23 June, with subscriptions closing just four days later. The firm make kitchen appliances, with gas stoves and pressure cookers among its key products. The kitchen appliances market in India is expected to grow at 8.7% CAGR between 2022 and 2026. Greenchef Appliances is looking to use proceeds from the IPO to help fund the installation of new plant and machinery and for general corporate purposes.

The company has raised about Rs 60 crore in a pre-IPO round from institutional investors that included Tata AIG General Insurance, Motilal Oswal Mutual Fund, and Think Investments PCC. The IPO comprises a fresh issue of up to Rs 240 crore in equity shares plus an offer for sale of up to 4.86 million units

Cell Point's IPO was subscribed 1.06 times on the first day, primarily driven by non-institutional investors who bid for 33.31 lakh shares. The IPO will be used to repay borrowings, renovate existing stores and establish new ones. Meanwhile, Cosmic CRF's IPO, which opened on 14th June, was only subscribed 22% by the end of day two, as NIIs and retail investors were not as enthused. The company is a supplier of cold-rolled stainless steel sections to renowned wagon makers and the railway.

Proceeds will be used for payment of debt, funding working capital requirements, pursuing inorganic initiatives and general corporate purposes.

Subscription period remains unchanged: The UAE Retail Offer closed on Thursday, and the Qualified Investor Offer will close today