Exciting news for investors! SK Finance, a leading vehicle finance and non-bank lender, along with Muthoot Finance’s microfinance arm, Belstar Microfinance, and Transrail Lighting, have received the green light from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs). According to market regulators, these companies, which filed their preliminary IPO documents between March and May, were given the green signal on August 30. In the world of SEBI, an observation letter signifies official approval to launch public issues.
Gala Precision Engineering Fully Subscribed on Day 1
Big news from the stock market! The IPO of Gala Precision Engineering was fully subscribed within minutes on its opening day, Monday. Investors showed overwhelming interest as the IPO received bids for 47,77,444 shares compared to the 22,23,830 shares available, representing a subscription rate of 2.15 times. Retail individual investors (RIIs) rushed in, leading to a 3.15 times subscription in their segment, while non-institutional investors subscribed 2.54 times. Mark your calendars; this share sale ends on September 4.
Shree Tirupati Balajee Agro’s Public Offer to Open on Sep 5
Shree Tirupati Balajee Agro Trading Company is all set to launch its IPO on September 5. The company has set a price range of Rs 78-83 per share for its nearly Rs 170 crore initial share sale. This IPO will be open for public subscription until September 9. The total IPO includes a fresh issue of 1.47 crore equity shares and an offer for sale (OFS) of up to 5.69 million equity shares by Binod Kumar Agarwal. The estimated size of the offering is pegged at Rs 169.65 crore. Investors, get ready!
Baazar Style Booked 4.64x on Second Day of Offer
More breaking news from the stock market: Baazar Style Retail, a value fashion retailer backed by Rekha Jhunjhunwala, saw its IPO subscribed 4.64 times on the second day of bidding, Monday. According to the NSE data, the initial share sale received bids for 6,96,80,144 shares against the 1,50,30,116 shares on offer. Non-institutional investors showed strong interest, booking 11.62 times their allotted quota. Retail Individual Investors (RIIs) booked 3.75 times their quota, while Qualified Institutional Buyers subscribed to 84 percent of their segment.