Results for: IPO

Ola Electric, led by Bhavish Aggarwal, has achieved a significant milestone, registering a 107% year-on-year growth in EV two-wheeler registrations during June 2024. The company’s expansive S1 portfolio, encompassing various price points, has contributed to its market leadership and accessibility. Ola Electric has also surpassed 2 lakh registrations in 2024, becoming the first EV two-wheeler company to achieve this landmark within the first half of the year. Furthermore, Ola Electric has received SEBI’s approval for its IPO, marking a crucial step in its growth journey.

Leading health insurer Niva Bupa is set to go public, filing a draft prospectus to raise Rs 3,000 crore ($360 million) through an IPO. The offering includes a fresh issue of Rs 800 crore and an offer for sale of up to Rs 2,200 crore by existing shareholders, including Bupa Singapore Holdings and Fettle Tone LLP. This makes Niva Bupa the second stand-alone health insurer to list on Indian stock exchanges.

Today, June 24, India witnesses a flurry of significant events across various sectors including business, politics, law, sports, and space. Key highlights include Adani Ports’ entry into the Sensex, IPOs from Sylvan Plyboard and Shivalic Power Control, the first session of the 18th Lok Sabha, and protests against the NEET exam row. Meanwhile, astronauts will conduct spacewalks outside the International Space Station, and the OnePlus Nord CE 4 Lite launches in India.

Ola Electric, led by Bhavish Aggarwal, has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). This marks a significant milestone as it represents the first IPO by an electric vehicle startup in India. The public issue will involve a fresh issuance of Rs 5,500 crore and an offer-for-sale (OFS) of 9.51 crore equity shares.

This Wednesday marks a confluence of significant events in India, ranging from the inauguration of the new Nalanda University campus by Prime Minister Narendra Modi to legal proceedings against Chief Minister Arvind Kejriwal and the anticipated stock market movements driven by dividend declarations and IPO launches.

Oyo, the global budget-hotel chain, is reportedly raising $100-$125 million in new funding, bringing its valuation down to $2.5 billion. This news comes after Oyo recently refinanced its existing $450 million Term Loan B, achieving a lower interest rate. The company also reported its first profitable year in 2023-24, with a net profit of Rs 100 crore. Oyo anticipates annual savings of $8-10 million in the first year and $15-17 million thereafter due to the refinancing.

Awfis Space Solutions IPO will open for subscription on May 22 and close on May 27. The issue includes a fresh issue of ₹ 128 crore and an offer-for-sale (OFS) of up to 12,295,699 equity shares, with a face value of ₹ 10 each. The price band of the issue has been fixed at ₹ 364 to ₹ 383 per equity share of the face value ₹ 10.

Walmart’s international president and CEO, Kathryn McLay, has indicated that the company is exploring the appropriate time for its Indian subsidiary, Flipkart, to go public. During the company’s earnings call, McLay highlighted the strong performance of Flipkart, including positive EBITDA for Myntra in the last two quarters and growth in premiumization.

Aadhar Housing Finance’s stock commenced trading on the National Stock Exchange (NSE) at its issue price of ₹315. Similarly, it opened at ₹314.30 on the Bombay Stock Exchange (BSE), representing a slight discount of 0.22%. The company’s initial public offering (IPO) was met with strong investor demand, resulting in an overall subscription of 26.76 times. Retail investors, non-institutional investors (NIIs), and qualified institutional buyers (QIBs) all showed significant interest in the IPO, with QIBs subscribing the highest at 76.42 times. The IPO comprised a fresh issue of 3.17 crore shares worth ₹1,000 crore and an offer for sale of 6.35 crore shares valued at ₹2,000 crore. The proceeds from the IPO will be utilized for future capital requirements and general corporate purposes.

The share allotment status for Aadhar Housing Finance IPO has been finalized. Those who applied for the IPO can check their allotment status on the registrar’s portal – Kfin Technologies Ltd. The IPO was open for subscription from May 8 to May 10 and was subscribed 25.49 times on the final day. Allotment of shares will begin on May 14 for those who have been allotted shares. Others who have not been granted shares will be refunded on the same day.