Security and Intelligence Services (India) Ltd (SIS) on Friday said it will launch an IPO on Monday and expects to raise up to Rs 780 crore, a part of which will go towards debt repayment.
Brokerages have largely highlighted the strong business model of the company along with presence in the organised sector in this space. Further, they said that the company will be able to leverage their leadership positions across several segments of security solutions.
The issue and the net issue will constitute 26.48 percent and 25.14 percent, respectively of the post issue paid-up equity share capital of the company.
The draft of IPO papers did not mention anything about Max Life merger in any form.
Godrej Industries arm Godrej Agrovet on Wednesday filed draft papers with markets regulator Sebi to raise an estimated Rs 1,000-1,200 crore through an initial public offering.
Matrimony.com and Shalby Hospitals have received markets regulator Sebi's approval to float initial public offerings.
HEM securities have come out with the research report on Shanti Overseas
HEM securities have come out with the research report on Captain Technocast
The IPO received bids for 90,63,94,500 shares against the total issue size of 33,21,000 shares, data available with the NSE till 1930 hours showed.
Once listed, this would be the second life insurer after ICICI Prudential Life Insurance to be listed on the stock exchanges.
SBI Life Insurance is a joint venture between State Bank of India (SBI) with 74 percent stake and BNP Paribas Cardif with the remaining 26 percent.
SBI Life is expected to raise Rs 7,400-8,500 crore through IPO, which valued it at Rs 65,000-70,000 crore, sources said.
Khadim will use fresh issue proceeds towards repayment of term loans and working capital facilities and for general corporate purposes.
AU Small Finance Bank received a license from the Reserve Bank of India to set up a small finance bank in December 2016 and commenced operations from April this year.
The IPO to raise Rs 1,912 crore received bids for 1,08,56,43,264 shares against the total issue size of 3,76,95,520 shares, data available with the NSE till 1515 hours showed.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 4.68 times, non institutional investors 45 per cent and retail investors 3.51 times.
Brokerage houses largely recommend subscribing to the issue, citing penetration in areas that large financial institutions are absent from, but also flag risks of change in business environment, among others.
“AU Small Finance Bank” that commenced its commercial operation from 19th April 2017 transitioned to its banking avatar after running a successful and highly profitable retail focused NBFC (Non-Banking Finance Company) for over twenty years.
This will be the fifth and last public issue for the month of June, followed by CDSL, Tejas Networks, GTPL Hathway and Eris Lifesciences.
The IPO received bids for 3,08,57,728 shares against the total issue size of 2,02,15,966 shares, data available with the NSE showed.
The IPO received bids for 2,87,33,232 shares against the total issue size of 2,02,15,966 shares, data available with NSE till 1545 hours showed.
The equity shares are proposed to be listed on the Emerge platform of NSE, Ritesh Dhiman, Assistant Vice President of the company said.
GEPL Capital has come out with its report on AU Small Finance Bank. The research firm has recommended to "Subscribe " the IPO in its research report as on June 22, 2017.
Antique Stock Broking has come out with its report on AU Small Finance Bank. The research firm has recommended to "Subscribe " the IPO in its research report as on June 20, 2017.