NTPC Green Energy Limited, a subsidiary of NTPC Limited, has received SEBI approval to raise Rs 10,000 crore through an IPO. The IPO includes a fresh issue of equity shares, employee reservation, and a discount for participating employees. Proceeds will be used for investment in its subsidiary and general corporate purposes. NTPC Green Energy boasts an impressive portfolio of renewable energy projects, with a strong track record of growth in operational revenue and profit.
Chinese autonomous driving startup WeRide successfully raised $440.5 million through an initial public offering (IPO) in the U.S., marking a significant step in its mission to revolutionize transportation. The company’s IPO saw strong investor interest despite a challenging market environment, showcasing confidence in its innovative technologies.
Hainan Drinda New Energy Technology Co. Ltd., a leading Chinese maker of photovoltaic (PV) cells, is seeking a second listing in Hong Kong, hoping to raise funds for overseas expansion amidst a challenging domestic market. The company, which initially focused on automotive trims, shifted to PV cells in 2019 and experienced rapid growth until the first half of 2024, when it faced a net loss due to overcapacity in the sector. Despite the challenges, Drinda is aiming to capitalize on global growth opportunities in the solar power market and is looking to build an overseas production facility with an annual capacity of 5 GW.
WeWork India, a joint venture between Embassy Group and WeWork, is reportedly gearing up for an initial public offering (IPO) with a target valuation of $2 billion to $2.5 billion. The company plans to raise between $350 million and $475 million through the offering, which will include both a secondary stake sale and a primary capital raise to fuel expansion. This move comes on the heels of a recent WeWork US emergence from bankruptcy, highlighting the co-working giant’s continued growth aspirations in the Indian market.
Get ready for a busy October 22nd! Prime Minister Narendra Modi will head to Russia for the BRICS summit, President Murmu will present National Water Awards, and several major companies will unveil their Q2 financial results. Additionally, Danish Power is set to launch India’s biggest SME IPO and ICICI Prudential Life Insurance is planning a fund-raising strategy. Read on for all the details.
Oriental Rise Holding Ltd. (ORIS) saw its shares soar by 50% on its Nasdaq debut, captivating investors with its unique white tea offering. The company, which raised a modest $7 million through the IPO, plans to use the funds to significantly expand its land area and boost production, capitalizing on the burgeoning white tea market in China.
Alibaba and Baidu are demonstrating their confidence in the Chinese autonomous driving market by investing in Horizon Robotics’ upcoming IPO. The company, specializing in advanced driver-assistance systems, aims to raise nearly $700 million on the Hong Kong Stock Exchange. Alibaba, Baidu, and Beijing Financial Holdings are committing to purchasing over 30% of Horizon Robotics’ shares, ensuring strong institutional and retail investor interest.
Woodpecker International, China’s largest home maintenance and repair platform, is reapplying for a Hong Kong listing after a previous attempt failed. The company, boasting impressive early investors and rapid growth, faces challenges in maintaining service quality and navigating a competitive market. Despite a dip in profit, Woodpecker’s second attempt at an IPO comes amidst a strong market rally and a growing demand for online home maintenance services.
Zephyrm Bioscience, a Chinese stem-cell drug developer, is seeking an IPO on the Hong Kong Stock Exchange amidst a surge in losses and a buoyant market. The company, known for its innovative cell therapy products, is hoping to raise funds to support its R&D efforts and upcoming commercialization, but its financial performance raises concerns.
The Oman Investment Authority (OIA), Oman’s sovereign wealth fund, has announced the largest Initial Public Offering (IPO) in the country’s history. This move is part of OIA’s strategic divestment plan, aimed at stimulating the Omani economy, invigorating the Muscat Stock Exchange, and attracting foreign investments. The IPO, involving 25% of shares in OQ Exploration & Production, a subsidiary of OQ Group, is expected to generate significant economic benefits for Oman.
