The Securities Exchange Board of India (SEBI) has approved the initial public offerings (IPOs) of co-working space provider Awfis Space Solutions Ltd. and online travel distribution platform TBO Tek Ltd. Awfis aims to raise Rs. 160 crore through a fresh issue and an offer for sale (OFS) of over 10 million equity shares, while TBO Tek plans to garner Rs. 400 crore via a fresh issuance and an OFS of 1.56 crore shares.
Shivam Chemicals and Minerals’ IPO opened for subscription on April 23rd. The issue has received decent demand and is subscribed 0.35 times on the first day. The IPO closes on April 25th and is expected to finalize allotment on April 26th. Shivam Chemicals shares will be listed on BSE SME on April 30th. Keep reading for more details and GMP today.
Reddit’s much-anticipated IPO brought a wild first month, with the stock soaring after its debut and then nose-diving to its current price. While IPO investors are still in the green, peak buyers are facing significant losses. Analyst coverage is split, with some seeing the stock as a ‘Strong Buy’ due to its unique platform, while others caution about its advertising challenges. Reddit’s metrics, including daily active users and average revenue per user, are trending positively, but its ARPU lags behind peers like Meta. The company is working to improve its monetization strategy and has been successful in attracting larger brands as advertisers. Reddit is on track to achieve GAAP profitability within the next 12 months. However, risks remain, including the potential for the company’s advertising machine to underperform and the expiration of lockup periods. Despite the risks, Reddit’s long-term growth potential remains significant, especially if it can capitalize on industry tailwinds and its unique niche status.
Grill Splendor Services, a premium bakery and patisserie franchise, saw a lukewarm start on the NSE SME platform. The company’s shares opened at 121.30, marginally higher than its issue price of 120, indicating a modest 1.08% gain.
Ramdevbaba Solvent’s shares debuted on the NSE SME at a premium of 31.76% on Tuesday, outperforming market expectations. The IPO had a price band of 80 to 85 per share and raised 50.27 crore. The IPO saw a strong subscription, receiving 126.21 times the total offered shares.
Embracer Group has announced plans to split itself into three distinct gaming companies: Asmodee, Coffee Stain and Friends, and Middle-earth Enterprises and Friends. The move is intended to unlock the potential of each team and provide them with independent leadership. Each entity will operate as a separate publicly listed company on the Nasdaq Stockholm.
