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Paras Defence to hit capital market on September 21
Type: NEWS
Date: 16-Sep-2021

Paras Defence and Space Technologies is coming out with an initial public offering (IPO) to raise around Rs 170.77 crore. The issue will open on September 21, 2021 and will close on September 23, 2021. It has fixed a price band of Rs 165-175 per share. The shares of the company are proposed to be listed on both BSE and NSE. 

The net proceeds from fresh issue of shares will be utilised for purchase of machinery and equipment; funding incremental working capital requirements, and repaying debts besides general corporate purposes. The offer for sale money will go directly to selling shareholders. The book running lead manager to the issue is Anand Rathi Advisors.

Paras Defence is engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions, catering to four major segments of the defence sector i.e. defence and space optics, defence electronics, electro-magnetic pulse (EMP) protection solutions and heavy engineering.

Healthium Medtech files DRHP with SEBI to raise funds via IPO
Type: NEWS
Date: 09-Sep-2021

Healthium Medtech has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 390 crore and an offer-for-sale of 3.91 crore equity shares by existing shareholders and promoters.

Proceeds from the fresh issue to the tune of Rs 50.09 crore will be utilized to repay debt, Rs 179.46 crore will be invested into its subsidiaries Sironix, Clinisupplies, and Quality Needles, and Rs 58 crore will be used for acquisition and other strategic initiatives. ICICI Securities, CLSA India, Credit Suisse Securities India, and Nomura Financial Advisory and Securities India are lead managers to the issue.

Healthium Medtech is a global Medtech company focused on products used in surgical, post-surgical, and chronic care. It operates across three key markets, India, the UK, and the rest of the world, and four focus areas, namely, advanced surgery, urology, arthroscopy, and wound care.

Northern Arc Capital gets SEBI’s go-ahead to raise funds via IPO
Type: NEWS
Date: 07-Sep-2021

Northern Arc Capital has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale of up to 36,520,585 equity shares by shareholders. The shares of the company will be listed on BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in July, got the regulator’s approval on September 3, 2021.  Proceeds from the fresh issue would be used towards augmenting the company`s capital base to meet future capital requirements. Axis Capital, Credit Suisse Securities (India) Private Limited, IIFL Securities, and SBI Capital Markets are the book running lead managers to the issue.

Northern Arc Capital is a leading player among the country`s diversified NBFCs, with a business model diversified across offerings, sectors, products, geographies, and borrower segments. It provides access to credit to under-served households and businesses directly and indirectly through originator partners.

Chemspec Chemicals get SEBI’s nod to float IPO
Type: NEWS
Date: 06-Sep-2021

Chemspec Chemicals has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The Rs 700-crore IPO of Chemspec Chemicals is entirely an offer for sale by promoters. The shares the company will be listed on BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in July, got the regulator’s approval on August 30, 2021. JM Financial and Axis Capital are the lead managers to the public issue.

Chemspec Chemicals is one of the leading manufacturers of critical additives for FMCG ingredients used in skin and hair care products and intermediates for pharmaceutical APIs used in anti-hypertension drugs. The company manufacture products at its production facility at Taloja, Maharashtra.

Infinion Biopharma files draft papers with SEBI for IPO
Type: NEWS
Date: 03-Sep-2021

Infinion Biopharma has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO comprises the sale of 45 lakh equity shares of Infinion Biopharma.

Proceeds from the IPO will be used towards investment in Mobius Biomedical Inc, acquisition of licenses for product development of skincare and women`s health products and working capital requirements. In addition, funds will be used for sales, marketing and distribution expenses for setting up the company`s geographical reach and for general corporate purposes. Aryaman Financial Services is the sole book-running lead manager to the issue.

Infinion Biopharma is an innovation-driven life sciences company that combines biophysics and engineering with traditional pharmacology and biochemistry to produce high-value, innovative products across a range of therapeutic areas.

Go Airlines gets SEBI’s nod for Rs 3,600 crore IPO
Type: NEWS
Date: 02-Sep-2021

Go Airlines has received the Securities and Exchange Board of India’s (SEBI) approval to raise Rs 3,600 crore through an initial public offering (IPO). The company, which filed the draft red herring prospectus with the SEBI in May, got the regulator’s approval on August 26, 2021.

From the net IPO proceeds, the airline plans to utilise over Rs 2,015.81 crore towards pre-payment or scheduled repayment of all or a portion of certain outstanding borrowings. Global coordinators and Book Running Lead Managers to the issue are ICICI Securities, Citi and Morgan Stanley.

Go Airlines operates as an aviation company. The company provides air transportation services for passengers, baggage, and cargo. Go Airlines serves customers in India.

MapMyIndia files DRHP with SEBI for IPO
Type: NEWS
Date: 01-Sep-2021

Digital mapping company MapMyIndia, which powers Apple maps has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).

The IPO is entirely an offer for sale of up to 75,47,959 equity shares by existing shareholders and a promoter. Axis Capital, JM Financial, Kotak Mahindra Capital and DAM Capital Advisors are the lead managers to the issue.

MapMyIndia, also known as CE Info Systems, is backed by global wireless technologies company Qualcomm and Japanese digital mapping Zenrin. It is a leading provider of advanced digital maps, geospatial software and location-based Internet of Things (IoT) technologies.

Ami Organics’ IPO to open on September 1
Type: NEWS
Date: 27-Aug-2021

Ami Organics is coming out with an initial public offering (IPO) to raise around Rs 569.64 crore. The issue will open on September 1, 2021 and will close on September 3, 2021. It has fixed a price band of Rs 603-610 per share. The shares of the company are proposed to be listed on both BSE and NSE.

The company will utilise net proceeds from its fresh issue for repaying of debts and working capital requirements. Intensive Fiscal Services, Ambit, and Axis Capital are the book running lead managers to the issue.

The company manufactures specialty chemicals that are used towards the development and manufacturing of advanced pharmaceutical intermediates for regulated and generic active pharmaceutical ingredients (APIs) and New Chemical Entities (NCE), and key starting material for agrochemical and fine chemicals.

Vijaya Diagnostics Centre to hit capital market on September 1
Type: NEWS
Date: 26-Aug-2021

Vijaya Diagnostic Centre is coming out with an initial public offering (IPO) to raise around Rs 1,895.04 crore. The issue will open on September 1, 2021 and will close on September 3, 2021. The shares of the company are proposed to be listed on both BSE and NSE. 

The company aims to use the net proceeds from the IPO to achieve the benefits of listing its shares on the Stock Exchanged. It also intends to make an OFS of 35,688,064 shares with the issue.

Vijaya Diagnostic Centre is one of the fastest-growing diagnostic chains in Southern India. The company offers a one-stop solution for pathology and radiology testing services. 

Metro Brands files DRHP with SEBI for IPO
Type: NEWS
Date: 23-Aug-2021

Metro Brands has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 250 crore and an offer-for-sale of 21,900,100 equity shares by selling shareholders.

Proceeds of the fresh issue will be used towards expenditure for opening new stores of the company, under the Metro, Mochi, Walkway and Crocs brands and for general corporate purposes. Axis Capital, Ambit, DAM Capital Advisors, Equirus Capital, ICICI Securities and Motilal Oswal Investment Advisors have been appointed as merchant bankers to advise the company on the IPO.

Metro Brands backed by ace investor Rakesh Jhunjhunwala, is an Indian footwear retailer targeting the economy, mid and premium segments in the footwear market.