About IPO
IPO is a process by which private companies go public for the first time and their shares are listed (open for buying and selling) in the stock market. IPO helps investors get the first mover advantage and also assists companies to assess their net worth in the primary market.
Benefits of IPO to Investors
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Opportunity to invest in new companies or startups, otherwise not accessible to general public
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Allows buying shares at a discount to the market price (post listing)
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Possibility of significant listing gains, especially in IPOs of high growth companies
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Absolute transparency with all critical information available in the draft red herring prospectus.
Who can invest in IPO?
While any individual can invest in IPO, there are three distinct categories of IPO investors:
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Institutional investors or Qualified institutional investors
Commercial banks, mutual fund houses, pension funds, foreign portfolio, trusts, etc. QII allotment is capped at 50% by SEBI.
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High networth investors
Non-Qualified institutional investors with net worth of more than ₹2 lakhs. Allotment for HNIs is capped at 15% of the overall subscription.
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Retail investors
Investors with net worth of less than ₹2 lakhs. Minimum allotment capped at 35%.
How to apply for IPO @
How to enhance chances of IPO allotment?
News
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Go Digit General Insurance IPO ends with better subscription
The initial public offer (IPO) of Go Digit General Insurance received 50,76,21,455 bids for shares as against 5,28,69,677 shares on offer. The issue was subscribed 9.60 times.
The Qualified Institutional Buyers (QIBs) category was subscribed 12.56 times. The Non Institutional Investors (NIIs) category was subscribed 7.24 times. The Retail Individual Investors (RIIs) category was subscribed 4.27 times.
The issue opened for bidding on 15 May 2024 and closed on 17 May 2024. The price band of the IPO was fixed at Rs 258 to 272 per share.
The offer comprises fresh issue of equity shares up to Rs 1,125 crore and an offer for sale of 547.66 lakh equity shares.
The promoter shareholding in the company will decline to 73.6% post- IPO from 83.3% pre-IPO.
The company proposes to utilize the net proceeds from the fresh issue towards maintenance of solvency ratio by investing in instruments in the manner prescribed under the IRDAI Actuarial & Allied Regulations, 2024.
Ahead of the IPO, Go Digit General Insurance on Tuesday, 14 May 2024, raised Rs 1,176.59 crore from anchor investors. The board allotted 4.32 crore shares at Rs 272 each to 56 anchor investors.
Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. The company, incorporated in December 2016, catered approximately 82.5% or Rs 6,680 crore (9M FY2024) of the GWPs written by digital full stack insurance players including Go Digit, Acko and Navi, making it the largest digital full stack insurance player in India.
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products. The company has designed its underlying business model to minimize dependency on any single line of business.
The firm reported a net profit of Rs 129.02 crore and total income of Rs 130.83 crore for the nine months ended on 31 December 2023.
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NSE SME IPO of Rulka Electricals subscribed 5.83 times
The initial public offer (IPO) of Rulka Electricals received bids for 49,15,800 shares as against 8,42,400 shares on offer, as per NSE data as of 17:00 hours on Thursday (16 May 2024). The issue was subscribed 5.83 times.
The issue opened for bidding on Thursday (16 May 2024) and it will close on Tuesday (21 May 2024). The price band of the IPO is fixed between Rs 223 to Rs 235 per share. The minimum order quantity is 600 equity shares. The equity shares will list on NSE?s SME platform.
The IPO comprises fresh issue of 8,42,400 equity shares. The promoter and promoter group shareholding will dilute to 69.22% from 86.28% Pre-IPO.
The issue size comprises of fresh issue of 8,42,400 and offer for sale (OFS) of 2,80,800 shares by existing shareholders.
About 56,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 10,66,800 equity shares.
The company intends to utilize the net proceeds to meet working capital requirements of the company, to meet the offer expenses and general corporate purposes.
Ahead of the IPO, Rulka Electricals on Wednesday, 15 May 2024, raised Rs 7.50 crore from anchor investors. The board allotted 3.19 lakh shares at Rs 235 per share to 7 anchor investors.
Rulka Electricals engaged in offering solution for all types of electrical & fire fighting turnkey projects. The company offers wide range of services like electrical solutions, electrical panels, solar epc contracts, turn key electrical warehousing projects, electric commercial industrial services, maintenance services, electrical contracting and data & voice cabling installation across the industrial sector, commercial, retail and theatre sector. As of 29 February 2024, the company has 92 employees.
The company recorded revenue from operations of Rs 65.18 crore and net profit of Rs 5.65 crore for the period as on 29 February 2024.
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Go Digit General Insurance IPO subscribed 79%
The initial public offer (IPO) of Go Digit General Insurance received 4,17,43,735 bids for shares as against 5,28,69,677 shares on offer, according to stock exchange data at 17:00 IST on Thursday (16 May 2024). The issue was subscribed 0.79 times.
The issue opened for bidding on Wednesday (15 May 2024) and it will close on Friday (17 May 2024). The price band of the IPO is fixed at Rs 258 to 272 per share. An investor can bid for a minimum of 55 equity shares and in multiples thereof.
The offer comprises fresh issue of equity shares up to Rs 1,125 crore and an offer for sale of 547.66 lakh equity shares.
The promoter shareholding in the company will decline to 73.6% post- IPO from 83.3% pre-IPO.
The company proposes to utilize the net proceeds from the fresh issue towards maintenance of solvency ratio by investing in instruments in the manner prescribed under the IRDAI Actuarial & Allied Regulations, 2024.
Ahead of the IPO, Go Digit General Insurance on Tuesday, 14 May 2024, raised Rs 1,176.59 crore from anchor investors. The board allotted 4.32 crore shares at Rs 272 each to 56 anchor investors.
Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. The company, incorporated in December 2016, catered approximately 82.5% or Rs 6,680 crore (9M FY2024) of the GWPs written by digital full stack insurance players including Go Digit, Acko and Navi, making it the largest digital full stack insurance player in India.
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products. The company has designed its underlying business model to minimize dependency on any single line of business.
The firm reported a net profit of Rs 129.02 crore and total income of Rs 130.83 crore for the nine months ended on 31 December 2023.
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Go Digit General Insurance IPO subscribed 36%
The initial public offer (IPO) of Go Digit General Insurance received 1,88,86,890 bids for shares as against 5,28,69,677 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (15 May 2024). The issue was subscribed 0.36 times.
The issue opened for bidding on Wednesday (15 May 2024) and it will close on Friday (17 May 2024). The price band of the IPO is fixed at Rs 258 to 272 per share. An investor can bid for a minimum of 55 equity shares and in multiples thereof.
The offer comprises fresh issue of equity shares up to Rs 1,125 crore and an offer for sale of 547.66 lakh equity shares.
The promoter shareholding in the company will decline to 73.6% post- IPO from 83.3% pre-IPO.
The company proposes to utilize the net proceeds from the fresh issue towards maintenance of solvency ratio by investing in instruments in the manner prescribed under the IRDAI Actuarial & Allied Regulations, 2024.
Ahead of the IPO, Go Digit General Insurance on Tuesday, 14 May 2024, raised Rs 1,176.59 crore from anchor investors. The board allotted 4.32 crore shares at Rs 272 each to 56 anchor investors.
Go Digit General Insurance is a digital full stack non-life insurance company, leveraging technology for enhancing product design, distribution and customer experience. The company, incorporated in December 2016, catered approximately 82.5% or Rs 6,680 crore (9M FY2024) of the GWPs written by digital full stack insurance players including Go Digit, Acko and Navi, making it the largest digital full stack insurance player in India.
Go Digit offers motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance, liability insurance and other insurance products. The company has designed its underlying business model to minimize dependency on any single line of business.
The firm reported a net profit of Rs 129.02 crore and total income of Rs 130.83 crore for the nine months ended on 31 December 2023.
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NSE SME IPO of Quest Laboratories subscribed 79%
The initial public offer (IPO) of Quest Laboratories received bids for 35,55,600 shares as against 44,49,600 shares on offer, as per NSE data as of 17:00 hours on Wednesday (15 May 2024). The issue was subscribed 0.79 times.
The issue opened for bidding on Wednesday (15 May 2024) and it will close on Friday (17 May 2024). The price band of the IPO is fixed between Rs 93 to Rs 97 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on NSE?s SME platform.
The IPO comprises fresh issue of 44,49,600 equity shares. The promoter and promoter group shareholding will dilute to 65.82% from 90.36% Pre-IPO.
About 2,28,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 42,21,600 equity shares. The issue and the net issue will constitute 27.15% and 25.76% respectively of the post offer paid up equity share capital of the company.
The company intends to utilize the net proceeds to meet working capital requirements of the company, for funding of capital expenditure towards purchase of plant and machineries for expansion at the existing manufacturing facility situated at Dhar, Madhya Pradesh and general corporate purposes.
Ahead of the IPO, Quest Laboratories on Tuesday, 14 May 2024, raised Rs 11.98 crore from anchor investors. The board allotted 12.36 lakh shares at Rs 97 per share to 4 anchor investors.
Quest Laboratories engaged in the business of manufacturing of pharmaceutical formulations across a broad spectrum, including antibiotics, antimalarials, antispasmodics, anti-inflammatories, antiemetics, respiratory medications, diabetes treatments, antidepressants, and more. These formulations fall under the trademark ?Quest Laboratories?. The company produces a variety of products, comprising ethical drugs, generic drugs, and over the-counter drugs (OTC). These products are available in various forms such as tablets, liquid orals, oral dry powders, oral powders (ORS), ointments, and external liquids. As of 31 December 2023, the company has 83 employees.
The company recorded revenue from operations of Rs 62.07 crore and net profit of Rs 7.74 crore for the period as on 31 December 2023.
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