Brokerage houses largely recommend subscribing to the issue citing steady valuations and a good prospect going forward.
Godrej Industries holds 63.61 percent stake in the company and V-Sciences Investments Pte Ltd 19.97 percent of pre-issue paid up equity share capital.
The IPO comprises fresh issue of equity shares worth Rs 450 crore and sale of scrips to the tune of Rs 105 crore by promoters Jasbir Singh and Daljit Singh.
The government, which fully owns HAL, is seeking to sell about 36.2 million shares in the IPO, according to a company filing with the capital markets regulator.
Three companies are scheduled to open their issue in the first fifteen days of October which include names like Godrej Agrovet, MAS Financial Services, and Indian Energy Exchange.
Funds raised through the issue would be used to pay debt and to finance the company's 200 MW solar power project in Rajasthan and for other general corporate purposes.
The initial public offer (IPO) of Rs 8,400 crore was oversubscribed 3.58 times on September 20-22. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times while that of non- institutional investors received 70 per cent subscriptions and retail investors 85 per cent, data available with the NSE showed.
The public issue comprises fresh issue of shares worth up to Rs 500 crore besides an offer for sale by the company's promoters -- Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda and Vipul Jayant Chheda, according to the draft red herring prospectus (DRHP).
Prataap Snacks aims to raise Rs 481.94 crore through the issue, at higher end of price band of Rs 930-938 per share.
The animal-feed producer is selling new shares worth up to Rs 292 crore in the IPO, while its main shareholder Godrej Industries is selling secondary shares of up to Rs 300 crore.
The initial public offer (IPO), which aims to raise Rs 482 crore, received bids for 39,14,325 shares against the total issue size of 36,27,518, data available with the NSE till 1445 hours showed. Prataap Snacks last week garnered a little over Rs 143 crore from anchor investors.
Promoters including Sequoia Capital GFIV Mauritius Investment (SCG), Sequoia Capital India Growth Investment Holdings I and SCI Growth Investments II hold 92.67 percent stake in the company and the rest is held by public.
Multiple brokerages recommend subscribing to the issue with a long term perspective as valuations could be higher from some perspective. But the business has a strong potential to grow ahead, they said.
Among all insurance initial public offerings (IPOs), State Bank of India's SBI Life commanding a valuation of Rs 70,000 crores is fully subscribed. In an interview to CNBC-TV18, SBI Life's MD & CEO Arijit Basu spoke about the response the IPO has garnered.
The Prataap Snacks initial public offering (IPO) opens for subscription today. In an interview to CNBC-TV18, Amit Kumat, MD & CEO of Prataap Snacks spoke about the latest happenings in his company and sector.
SBI Life Insurance Company's initial share sale offer has received good response from qualified institutional investors on the last day.
The shares would be alloted to 15 anchor investors at Rs 938, which is the upper end of the price band, the company informed to the stock exchanges.
The Reserve Bank of India's guidelines mandated the bank to get itself listed within three years from the commencement of banking operations. The bank started its operation in August 2015.
The public offer comprises sale of up to 195,797,000 equity shares by the existing shareholders, including Maplewood, Whispering Resorts, Palms International and RJ Corp, according to the draft red herring prospetus (DRHP).
While every good thing comes at a price, so is the IPO (initial public offer) of SBI Life. Long term investors should lock in to this offer for a safe journey.
The company through its merchant bankers informed exchanges that under anchor investors portion in the public issue of SBI Life Insurance Company, 3.18 crore equity shares have been subscribed on Tuesday by 69 anchor investors.
Brokerage houses largely recommend subscribing to the issue, citing healthy valuations and better business prospects.
The IPO by size is expected to be the largest in life insurance space in India and it would be the second life insurance company to list on bourses.
Post-issue, the shareholding of Fairfax will reduce to 9.91 percent from 21.91 percent and ICICI Bank's stake will come down to 55.92 percent, from 62.92 percent.
There were some swings seen in the stock during the morning session, as it fell over a percent in the first few minutes, but has now gained around 4 percent later.