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Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12

EntrackrEntrackr · 5m ago
Voler Car Limited’s Rs 27 Cr SME IPO opens on February 12
Medial

Voler Car Limited is set to launch its SME initial public offering (IPO) on February 12, 2025, aiming to raise Rs 27 crore (approximately $3.2 million). According to the press release, the IPO comprises 30,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 85-90 per share. The lot size for the IPO is 1,600 equity shares, requiring a minimum investment of Rs 1,44,000 for investors looking to participate. The SME IPO will be processed through the 100% book-building method. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment. GYR Capital Advisors Private Limited is the Book Running Lead Manager of Voler Car IPO, while KFin Technologies Limited is the registrar to the issue. The IPO will be open from February 12, 2025 to February 14, 2025. The issue proceeds will be utilized for funding working capital requirements, general corporate expenses, and IPO-related costs. Founded in 2010 by Pawan Parasrampuria and Vikas Parasrampuria, Voler Car specializes in providing employee transportation services for large MNCs, IT, and ITeS companies across major Indian cities. As per its investor memorandum, the company operates a fleet of over 2,500 vehicles, completing 425,000 trips annually across nine cities in India. During the first six months of the ongoing fiscal year (H1 FY25), Voler Car Limited registered an operating revenue of Rs 21.49 crore with a positive bottom line of Rs 2.48 crore. However, they recorded a revenue of Rs 30.89 crore with a profit of Rs 3.56 crore during the previous fiscal year (FY24).

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Solarium Green Energy's Rs 105 Cr SME IPO opens on Feb 6

EntrackrEntrackr · 6m ago
Solarium Green Energy's Rs 105 Cr SME IPO opens on Feb 6
Medial

Turnkey solar solutions provider Solarium Green Energy is set to launch its SME initial public offering (IPO) on February 6, 2025, aiming to raise Rs 105.04 crore (approximately $12.5 million). According to the press release, the IPO comprises 55,00,000 shares with a face value of Rs 10 each, priced in the range of Rs 181-191 per share. The lot size for the IPO is 600 equity shares, requiring a minimum investment of Rs 1,41,600 for investors looking to participate. 46% of the total share allocation (26,05,000 shares) is reserved for Qualified Institutional Buyers. High Net-Worth Individuals (HNIs) will receive 7,82,400 equity shares, while market makers will be allocated 2,86,8000 shares. Retail investors will account for 33.17% of the total share allocation. The IPO issue will be open from 06th February to 10th February. According to the company, the net proceeds from the IPO will be utilized to meet working capital requirements and to address general corporate purposes. Founded by Ankit Garg, Solarium Green Energy Limited specializes in turnkey solar solutions. It offers services such as design, engineering, procurement, testing, installation, commissioning, and comprehensive operation and maintenance (O&M). The company claims to have executed 11,195 residential rooftop projects, 172 commercial and industrial (C&I) projects, and 17 government projects during April 2021 to September 2024. Solarium has reported a revenue of Rs 177.80 crore with net profits of Rs 15.59 crore during the fiscal year ended March 2024. Meanwhile, in H1FY25 (the first half of the ongoing fiscal), its revenue was recorded at Rs 81.99 crore with net profits of Rs 7.55 crore. The firm achieved this growth without any venture or institutional funding. Solarium, which competes with Zunroof, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy, has become the first company from the Indian startup ecosystem to launch an SME IPO in 2025. Last year, Trust Fintech, TAC Security, and Menhood also went public through the SME route.

Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024

EntrackrEntrackr · 1d ago
Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024
Medial

Bluestone Jewellery and Lifestyle facilitated secondary share transactions worth Rs 443 crore between February and September 2024, allowing early investors to partially exit and late-stage institutional funds to enter ahead of its upcoming IPO, according to its Red Herring Prospectus (RHP). Iron Pillar Fund and Kalaari Capital offloaded part of their stake to 360 One, Peak XV, and Steadview Capital via off-market deals. In February 2024, Iron Pillar sold 3.26 lakh shares to 360 One Large Value Fund for Rs 103 crore, valuing Bluestone at Rs 3,149 per share. In September, Kalaari executed two back-to-back secondary sales, where on September 02, it transferred 4.07 lakh shares to Peak XV Partners for Rs 220 crore, and later on September 26, it sold 2.22 lakh shares to Steadview Capital for Rs 120 crore. Both deals were priced at Rs 5,403 per share. These secondary transactions were already disclosed in the company’s DRHP filed in December 2024. Bluestone is reportedly targeting a valuation of around Rs 7,800 crore in its upcoming initial public offering (IPO). In the updated RHP, Bluestone revised its IPO size, where it trimmed the fresh issue to Rs 820 crore from Rs 1,000 crore, and reduced the Offer for Sale to 1.39 crore shares from 2.4 crore shares. Investors including Accel, Saama Capital, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal (Hero Enterprise) are part-exiting via the public offer. Founded in 2011 by Gaurav Singh Kushwaha, Bluestone operates 275 stores across over 80 cities and reported Rs 1,770 crore in revenue in FY25, a 40% YoY jump. At the same time, its losses widened 56% to Rs 218 crore. The IPO opens on August 11, with anchor bidding on August 8. Axis Capital, Kotak Mahindra Capital, and IIFL Capital are managing the issue.

CaratLane posts Rs 1,117 Cr revenue in Q3 FY25, EBITDA tops Rs 130 Cr

EntrackrEntrackr · 6m ago
CaratLane posts Rs 1,117 Cr revenue in Q3 FY25, EBITDA tops Rs 130 Cr
Medial

Omnichannel jewellery brand CaratLane has recorded 27% year-on-year growth during the third quarter of the ongoing fiscal year. Moreover, its EBITDA crossed Rs 130 crore in the same period. CaratLane's total income (excluding bullion and Digi Gold sales) surged to Rs 1,117 crore in Q3 FY25, up from Rs 879 crore in Q3 FY24, reflecting 27% year-on-year growth. The figures were reported in Titan’s quarterly results sourced from the National Stock Exchange (NSE). According to the company's press release, CaratLane has added 19 new stores in India, bringing the total to 305 stores across 128 cities. During the quarter ending December 2024, CaratLane also opened its first international store in New Jersey, United States of America. With the 22% growth in brand searches, EBITDA for CaratLane stood at Rs 131 crore during Q3 FY25, with a margin of 11.7%. Notably, Titan's total jewelry business, including Tanishq and Mia grew by 26.6% to Rs 16,134 crore in Q3FY24, compared to 12,742 crore in Q3 FY24. Apart from CaratLane, Tanishq, and Mia have added 11 and 13 new stores respectively in the domestic market during the last quarter. Titan Company Limited initially acquired a 62% stake in CaratLane for Rs 357.24 crore in 2016. Over time, it increased its holding to 71.09%. The company later acquired an additional 27.18% for Rs 4,621 crore, bringing its total stake to 98.64%, and subsequently purchased the remaining shares for Rs 60 crore in February last year. During the fiscal year ended March 2024, CaratLane posted a 42% year-on-year increase to Rs 3,081 crore from Rs 2,169 crore in FY23. However, its profit slipped 3.7% to Rs 79 crore in the same period. CaratLane directly competes with Bluestone which filed DRHP to SEBI for Rs 1,000 crore IPO and reported Rs 1,266 crore in operating revenue for FY24 with a loss of Rs 142 crore. Fine jewellery brand Giva saw a 66% year-on-year revenue growth to Rs 274 crore in FY24. Meanwhile, Melorra is yet to post its annual results for the last fiscal.

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