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cartrade ipo: CarTrade Tech likely to get Sebi nod for Rs 2,000 cr IPO this week; launch slated for August indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Synopsis CarTrade, an online auto classifieds platform, is looking at a valuation of $1.5 billion in the IPO and will look at listing later in the year, depending on market conditions. ETtech CarTrade recently changed its status from a private company to a public one, a prelude to an IPO, company filings sourced by Tofler showed. (Photo: Reuters) Mumbai: Online auto classifieds platform CarTrade has begun preparations for filing the draft prospectus for its initial public offering (IPO) to raise around Rs 2,000 crore, three people directly involved in the process said. It has appointed the investment banking arms of Axis Bank, Citigroup, Nomura and Kotak Mahindra Bank to manage the issue, the people said. The Warburg Pincus and Temasek-backed company helps people buy both new as well as used cars.
Shares of Rossari Biotech rallied 9 per cent to Rs 1,199 on the BSE in intraday trade on Wednesday. This is also the stock's highest level since listing on the bourses on July 23 last year. It surpassed its previous high of Rs 1,145.65, hit on February 19. Thus far in the month of April, the specialty chemicals company's stock has soared 16 per cent in the four trading days, after the company announced full commissioning of its Greenfield manufacturing facility at Dahej, Gujarat. The Greenfield facility will have a total installed capacity 132,500 MTPA, enhancing the total capacity of Rossari by 2.1x to 252,500 MTPA. A strong upcoming pipeline of new product launches and new business lines within the four core chemistries should enable the Company to sustainably ramp-up utilization levels at the Dahej unit over the next 3-4 years, Rossari Biotech said in a press release.
Brace for volatility amidst weak global cues - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
NEW DELHI: The IPO of Laxmi Organic was subscribed 6.05 times on the second day of the bidding process on Tuesday. The IPO was subscribed 2.28 times on the first day. The issue received 19,68,68,270 bids as of 5:00 pm, against a total offer of 3,25,58,138 shares. The issue is priced in the range of Rs 129-130 per share. Dealers of unlisted shares said the stock is trading at Rs 232-235 range in the grey market, meaning a premium of 81 per cent over the upper limit of the band price. “At Rs 130, the stock is available at 48.8 times FY20 EPS. We believe valuations are on the higher side given it is a commodity business. We also believe that upcoming incremental opportunity from fluoro specialties division for three/four years forward is also largely discounted in the price and thus leaves limited opportunity on the table,” said Mitesh Shah and Dhavan Shah of ICICI Securities.
NEW DELHI: The IPO of Laxmi Organic was subscribed 2.28 times on the first day of the bidding process on Monday. The company plans to raise Rs 600 crore. The issue received 7,42,26,635 bids as of 5 pm, against a total offer of 3,25,58,138 shares. The issue is priced in the range of Rs 129-130 per share. Dealers of unlisted shares said the stock is trading at Rs 232-235 range in the grey market, meaning a premium of 81 per cent over the upper limit of the price band. “At Rs 130, the stock is available at 48.8 times FY20 EPS. We believe valuations are on the higher side given it is a commodity business. We also believe that upcoming incremental opportunity from fluoro specialties division for three/four years forward is also largely discounted in the price and thus leaves limited opportunity on the table,” said Mitesh Shah and Dhavan Shah of ICICI Securities.
Laxmi Organic Industries IPO opens today: All you need to know business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Explore Now NEW DELHI: Laxmi Organic, a manufacturer of industrial chemicals, is set to hit the primary markets on Monday. While the IPO has been touted as aggressively priced, a huge demand in the unofficial markets hints at bumper subscription. Laxmi Organic has fixed the price band for its issue at Rs 129-130 per share. The Rs 600-crore issue would comprise issuance of fresh equity shares aggregating Rs 300 crore and an offer for sale (OFS) of shares aggregating up to Rs 300 crore. “At Rs 130, the stock is available at 48.8 times FY20 EPS. We believe valuations are on the higher side, given it is a commodity business. We also believe that upcoming incremental opportunity from fluoro specialties division for three/four years forward is also largely discounted in the price and thus leaves limited opportunity on the table,” said Mitesh Shah and Dhavan Shah of ICICI Securities.
Laxmi Organics raises Rs 180 crore from anchor investors ahead of IPO indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Laxmi Organic raises ₹180 crore ahead of IPO March 12, 2021 × Laxmi Organic Industries Ltd, a Mumbai-based specialty chemicals manufacturer, has raised ₹180 crore from 15 anchor investors a day prior to the opening of its initial public offering (IPO). The company allocated 1.38 crore shares at ₹130 per share on Friday, it informed the bourses. Eight foreign portfolio investors who participated in the anchor were Nomura India Equity Fund, Abu Dhabi Investment Authority, Goldman Sachs, Kuber India (Plutus), Theleme India Master Fund, Malabar India Fund, Ashoka India Opportunities Fund, India Acorn Fund. These investors were allocated 78.46 lakh shares for about ₹102 crore. Malabar India Fund and Ashok India Opportunities Fund have also invested ₹55 crore and ₹35 crore, respectively, in a Pre-IPO round last month.