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Kiaasa Retail gets BSE nod for Rs 55-cr IPO to fund expansion plans

Economic Times

Economic Times · 23d ago

Kiaasa Retail gets BSE nod for Rs 55-cr IPO to fund expansion plans

Kiaasa Retail, a women's ethnic wear brand, has received approval from the BSE to launch a Rs 55 crore IPO on its SME platform. The IPO funds will be used for opening new stores and expansion plans. Kiaasa operates over 100 stores in 20 states and aims to expand to 250 stores by FY28, including a global expansion in FY26. The company's shares will be listed on the BSE's SME platform.

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Excelsoft Technologies gets Sebi nod for Rs 700-cr IPO

Economic Times

Economic Times · 1m ago

Excelsoft Technologies gets Sebi nod for Rs 700-cr IPO

Excelsoft Technologies, a vertical SaaS company specializing in learning and assessment solutions, received SEBI approval for a Rs 700 crore IPO. The plan includes a fresh share issue worth Rs 210 crore and an offer-for-sale of Rs 490 crore by promoters. The IPO proceeds will fund land acquisition, infrastructure upgrades, and general corporate purposes. Excelsoft, operating in 17 countries with clients like Pearson and Ascend Learning, reported Rs 198.3 crore revenue and Rs 12.75 crore profit in FY24.

IndiQube gets SEBI nod for Rs 850 Cr IPO

Entrackr

Entrackr · 5m ago

IndiQube gets SEBI nod for Rs 850 Cr IPO

IndiQube gets SEBI nod for Rs 850 Cr IPO Managed workplace solutions company, IndiQube, has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offerings (IPOs). In December last year, the Bengaluru-based company filed its DRHP for Rs 850 crore (approximately $100 million) IPO, comprising a fresh issue of Rs 750 crore and an offer for sale of equity shares totaling Rs 100 crore. As per the draft red herring prospectus (DRHP), the company plans to allocate Rs 427 crore from the fresh proceeds for capital expenditure, Rs 100 crore for loan repayment or prepayment, and the remaining amount for general corporate purposes. ICICI Securities Limited and JM Financial Limited will be the Book Running Lead Managers for its Initial Public Offering. The equity shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Indiqube has raised around $45 million across rounds. According to the DRHP, Anshuman Das is the largest shareholder, holding 25.32%, followed by Aravali Investment Holding with 22.07%. Other notable shareholders include WestBridge Capital (5.79%), Carenet Technologies (5.15%), and Hirepro Consulting (2.15%). The company's co-founders, Rishi Das and Meghna Agarwal, cumulatively own 37.92% of the company. Founded in 2015 by Rishi Das and Meghna Agarwal, it manages a portfolio of 103 centers across 13 cities, including 6 Tier II cities. IndiQube clients include Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, Ninjacart, and others. The WestBridge Capital-backed firm achieved a 43% year-on-year growth in revenue to Rs 830 crore in FY24 from Rs 580 crore in FY23. However, the pursuit of growth came at a cost, with losses surging 72.2% to Rs 341 crore in FY24, compared to Rs 198 crore in FY23. According to the company, it has recorded Rs 153 crore of EBITDA in Q1FY25 and claims to receive a CRISIL A+ / Stable rating.

JSW Cement gets SEBI nod to garner Rs 4,000 Cr via IPO

YourStory

YourStory · 8m ago

JSW Cement gets SEBI nod to garner Rs 4,000 Cr via IPO

JSW Cement, under the JSW Group, received SEBI's nod for a Rs 4,000 crore IPO, involving a fresh issue of Rs 2,000 crore and an Offer-for-Sale by stakeholders. Key sellers include AP Asia and Synergy Metals at Rs 937.5 crore each, and SBI at Rs 125 crore. Proceeds will fund a new Rajasthan unit and debt repayment. By FY24, JSW Cement's revenue was Rs 6,028.10 crore with liabilities of Rs 8,933.42 crore and a 20.60 MTPA capacity.

StarBigBloc Building gets shareholders' nod for IPO

Economic Times

Economic Times · 3m ago

StarBigBloc Building gets shareholders' nod for IPO

StarBigBloc Building Material, a subsidiary of BigBloc Construction, has received shareholder approval for an initial public offering (IPO) to raise growth capital and enhance parent company valuation. The IPO will aid in expansion and strengthening the company's market position in India. StarBigBloc aims to boost production capacity from 2.5 lakh cubic meters to over 1.2 million cubic meters annually within 4-5 years and targets revenues of Rs 428 crore by FY28, with an estimated Rs 80 crore profit.

MobiKwik Gets SEBI Nod For INR 700 Cr IPO

Inc42 · 1y ago

MobiKwik Gets SEBI Nod For INR 700 Cr IPO

MobiKwik, a fintech unicorn, has announced that its upcoming IPO will consist only of fresh equity shares and will not include an offer for sale component. The company plans to use the funds raised from the IPO to fuel the growth of its financial services segment and expand its payments business. Additionally, MobiKwik may also consider a pre-IPO placement of INR 140 crore.

Info Edge Gets Nod To Invest INR 30 Cr In Its Subsidiary Redstart Labs

Inc42 · 11m ago

Info Edge Gets Nod To Invest INR 30 Cr In Its Subsidiary Redstart Labs

Info Edge, an online classifieds company, plans to invest in CCDs worth INR 30 lakh. The investment will be utilized to meet capital requirements, explore new opportunities, and finance general purposes. The company's shares on the BSE ended 3.6% lower at INR 7654.75.

Riddhi Display Equipments IPO: All you need to know before subscription

Economic Times

Economic Times · 1d ago

Riddhi Display Equipments IPO: All you need to know before subscription

Riddhi Display Equipments is set to launch its Rs 25 crore IPO on Wednesday, with a price band of Rs 95-100 per share. The IPO, closing on September 26, aims to list on BSE SME by October 1. Proceeds will fund expansion, plant upgrades, and working capital, supporting the company's growth in manufacturing display counters and kitchen equipment.

Zelio E-Mobility gets Sebi nod for Rs 78-cr IPO

Economic Times

Economic Times · 5d ago

Zelio E-Mobility gets Sebi nod for Rs 78-cr IPO

Zelio E-Mobility Ltd, an electric vehicle manufacturer, has received approval from SEBI for a Rs 78 crore IPO aimed at supporting its growth. The IPO is expected to launch by the end of the month with Hem Securities as the lead manager. Zelio, which began in 2021, offers electric scooters and three-wheelers and is distributed by over 280 dealers across 20+ states. The company reported significant financial growth between FY23 and FY25.

LT Elevator IPO listing on Friday; GMP robust after strong subscription

Economic Times

Economic Times · 6d ago

LT Elevator IPO listing on Friday; GMP robust after strong subscription

LT Elevator is set to list its IPO on the BSE SME platform, maintaining a strong 55% grey market premium. The IPO, fully a fresh issue valued at Rs 39.37 crore, was significantly oversubscribed, reflecting robust investor interest, particularly among non-institutional investors. The company, which provides a range of elevator services and smart parking solutions, plans to use IPO proceeds for working capital and investing in its subsidiary, Park Smart Solutions.

Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO

Economic Times

Economic Times · 2m ago

Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO

Rayzon Solar has filed for a Rs 1,500 crore IPO to fund its solar cell manufacturing expansion, using Rs 1,265 crore to establish a 3.5 GW facility. With existing 6.00 GW module capacity, Rayzon aims for 3.5 GW solar cell production by FY 2027. Profits have surged, with FY24 revenue at Rs 1,272.85 crore. The IPO will also fund a 19,800 MT aluminum unit. Shares will list on BSE and NSE with SBI Capital, Ambit, and IIFL Capital as managers.

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