Category: IPO Watch

The company aimed to raise Rs 1,039.61 crore via the primary route, which was entirely an offer for sale of 10,063,945 equity shares, with a face value of Rs 2 each by existing shareholders and promoters of the company. Investors PhonePe India, Zenrin, and Qualcomm held 19.15 percent, 8.78 percent, and 5.07 percent shareholding, respectively, in the company.

The IPO issue date was open from 09 to 13 December 2021. The lot size consisted of 14 shares. The price range was 1000- 1033 per equity share. The minimum amount of the subscription was INR 14,462 (01 lot) and maximum amount of subscription was 188,006 (13 lots). The Book Running Lead Managers of this IPO were Axis Capital, DAM Capital Advisors Ltd., JM Financial Consultants Private Limited and Kotak Mahindra Capital Company Limited.

The public issue was subscribed 15.20 times in the retail category, 196.36 times in the QIB category, and 424.69 times in the NII category. The total subscription of the IPO was 154.71 times.  

MapmyIndia listed on the bourses on 21 December 2021, with the listing price ₹1,581, a 54% premium.

The competitive strengths of MapmyIndia are; they are the pioneers of digital mapping in India having an early mover advantage, it is a leading the B2B and B2B2C market for digital maps and location intelligence in India, proprietary technology and network effect resulting in competitive edge, independent, global geospatial products and platforms company with strong data governance, prestigious customers across sectors with strong relationships and consistent profitable financial track record.

The digital maps offered by the company cover 6.29 Mn Km of roads in India, representing 98.50% of India’s road network. The company’s digital map data provides location, navigation, analytics, and other information for 7,933 towns, 6,37,472 villages, 17.79 Mn places across many categories such as restaurants, retail shops, malls, ATMs, hotels, police stations, electric vehicle charging stations, etc., and 14.51 Mn house or building addresses. The company’s ‘RealView’ maps provide actual roadside and on-ground views based on over 400 Mn geo-referenced photos, videos, and 360-degree panoramas across India.

About the company:

MapmyIndia is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies in India. The company is a data and technology products and platforms company, offering proprietary digital maps as a service (MaaS), software as a service (SaaS), and platform as a service (PaaS). The company provides products, platforms, application programming interfaces (APIs), and solutions across a range of digital map data, software, and IoT for the Indian market under the (MapmyIndia) brand, and for the international market under the (Mappls) brand. The company serves the BFSI, telecom, FMCG, industrials, logistics, and transportation sectors. MapymyIndia has also entered into various memorandums of understanding with key government organizations such as the Indian Space Research Organisation (ISRO), NITI Aayog, National eGovernance Division, Ministry of Electronics and Information Technology, and Government of India. Some of the company’s customers include PhonePe, Flipkart, Yulu, HDFC Bank, Airtel, and Hyundai.

(Source: economictimes.com, chittorgarh.com)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

The Rs 700 crore- IPO by the API manufacturer, Supriya Lifescience was issued from December 16 to 20, 2021. The issue price was in the range of INR 265-274 per equity share. The Book Running Lead Managers were Axis Capital Limited and ICICI Securities Limited.

Overall, the issue received bids for 1,03,89,57,138 shares against 1,45,28,299 shares on offer, according to NSE data. The IPO comprised a fresh issue of up to Rs 200 crore and an offer for sale of up to Rs 500 crore.

The subscription by QIBs was 31.83 times, NII category was subscribed 161.22 times, Retail investors subscribed 56.01 times, thereby making the entire subscription 71.51 times.

The pre-issue holding of promoters was 99.98%, which after issue is 68.24%.  The scrip was listed on secondary market at INR 425 on BSE with premium of 55.11% and on NSE it was listed at INR 421.

Proceeds of the issue would be utilized for funding capital expenditure requirements of the company, repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company and general corporate purposes.

Supriya Lifescience looks forward to achieve continuous growth in coming years on account of strong fundamentals. Since past three to four years it has bee growing at the CAGR of 18%. The company has managed to maintain 40% EBITDA margin, which is due to their focus on penetrating into more regulated markets where we are able to get a much better average selling price for the existing products. They look forward to add more APIs into existing therapeutic categories apart from adding new therapeutic categories in their basket, like decongestants, anti-gout, xanthine derivatives and more vitamin derivatives. They wish to focus more on anti-anxiety therapies.

Supriya Lifescience envisages to expand across newer geographies and focus more on regulated markets like North America, Japan and China. Currently, twelve of the existing products are backward integrated and contribute about 65% of the total revenue and it continues to be their strategy for further capacity expansion and product developments as well. About Rs 92 crore of the amount that will be raised would be utilised for capacity enhancements by adding a new production block which would add further capacity.

About the company:

Supriya Lifescience is a manufacturer and supplier of active pharmaceutical ingredients (APIs) with a focus on research and development. As of October 31, it had niche product offerings of 38 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anaesthetic, vitamin, anti-asthmatic and antiallergic. The API maker has consistently been the largest exporter of Chlorpheniramine Maleate and Ketamine Hydrochloride from India, contributing to 45-50 per cent and 60-65 per cent, respectively, of the API exports from India, between fiscal 2017 and 2021.

(Source: economictimes.com)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

The Shriram Properties IPO open date is Dec 8, 2021, and the close date is Dec 10, 2021. The issue may be listed on Dec 20, 2021.

This public issue comprises fresh issuance of equity shares worth Rs.250 crore and an offer for sale (OFS) of Rs.350 crore. The issue includes a reservation of equity shares worth Rs.3 crore for the company’s employees who will receive those shares at a discount of Rs.11 per share to final issue price. The company’s shares are expected to list on stock exchanges BSE and NSE.

The price brand for the IPO is Rs113-118 per equity share.  A retail-individual investor can apply for a minimum of 1 lot comprising 125  shares amounting to Rs.14,750 and maximum of 13 lots comprising 1625 shares amounting to Rs.1,91,750.

Objects of the Issue:

The IPO aims to utilize the net proceed towards the following purposes;

• Repayment and/ or prepayment, in full or part, of certain borrowings availed by the company and its subsidiaries, Shriprop Structures, Global Entropolis and Bengal Shriram; and
• General corporate purposes, subject to applicable laws.

About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.

Axis Securities Ltd, ICICI Securities Ltd and Nomura Financial Advisory and Securities Ltd are the book running lead managers to the issue.

About the company

Incorporated in 2000, Shriram Properties is a part of the Shriram Group and is one of the leading residential real estate development companies in South India. The company primarily focuses on the mid-market and affordable housing segments. The company is also present in the mid-market premium and luxury housing categories as well as commercial and office space categories. Bengaluru and Chennai are the key markets for the company. The company also has operations in Coimbatore, Visakhapatnam, and Kolkata.

As of September 30, 2021, the company has completed 29 projects, out of which 24 are in the cities of Bengaluru and Chennai. As of September 30, 2021, the company has a total portfolio of 35 projects in ongoing, projects under development, and forthcoming projects, stages, aggregating to 46.72 million square feet of estimated saleable area.

(Source:   Shriram Properties IPO DRHP)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

The IPO comprises a fresh issue of equity shares worth Rs 2,000 crore and an offer-for-sale (OFS) of up to 58,324,225 equity shares of Rs. 5,249 crore by promoters and existing shareholders. The Star Health IPO opened at Nov 30, 2021, and closed at Dec 2, 2021and will list on both NSE & BSE at Dec 10, 2021.The minimum lot size comprises 16 shares at a price band of Rs.870 -900 per equity share. A retail-individual investor can apply for up to 13 lots.

The objective of the issue is to  to utilize the net proceed to augment the company’s capital base and insolvency level.  The proceeds will also be used for general corporate purposes.

The Star Health IPO has got 75 per cent reserved for qualified institutional buyers (QIBs) and 15 per cent reserved for non-institutional investors (NIIs). The remaining 10 percent of the issue is available for retail investors.

Star Health IPO Subscription Status

Star Health IPO opened for subscription on Tuesday, November 30,2021 and concluded at 5 p.m Thursday , December 2,2021.

According to the data available on the BSE, Star Health was met with a muted response as it got subscribed 79 percent on the final day.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 1.03 times, while those of non institutional investors was subscribed 0.19 times and that of retail individual investors (RIIs) was subscribed 1.10 times. Separately, shares for the employees’ segment was subscribed 0.10 times, the data showed.

About the Company

Incorporated in 2006, Star Health and Allied Insurance Company Ltd is one of the largest private health insurers in India with a market share of 15.8% in Fiscal 2021. The company primarily focuses on the retail health and group health segments which accounted for 89.3% and 10.7% of the company’s total GWP in Fiscal 2021 respectively.

The company mainly distributes policies through individual agents and also includes corporate agent banks and other corporate agents. As of Sep 31, 2021, its network distribution includes 779 health insurance branches across 25 states and 5 union territories in India. Star Health has also built one of the largest health insurance hospital networks in India with more than 11,778 hospitals.

(Source:https://www.sebi.gov.in/filings/public-issues/jul-2021/star-health-and-allied-insurance-company-limited-drhp_51323.html)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

Latent View Analytics is a pure-play data analytics services company in India that offers consulting services, data engineering, business analytics and digital solutions. Its IPO was open for subscription from November 10 to November12, 2021 with issue price-band ranging from INR 190-197 and lot size of 76 shares.

Latent View has received subscription for 572.18 crore shares worth Rs 1.12 lakh crore against its requirement of INR 600 Crores. It was oversubscribed by 338 times, much higher than the high-profile IPOs that were previously listed. The qualified institutional investors subscribed 145.48 times, Non-institutional buyers subscribed 850.66 times and retail investors subscribed 119.44 times.

The stock was listed on exchange on 23^rd November 2021 at INR 530, which was a whopping 169.04% premium above its issue price. At the issue price, the company commanded a market capital of Rs 3,896 crore, which shot up to Rs 10,484.16 crore.

The proceeds from the IPO are expected to be used inorganic growth initiatives (to the tune of Rs 147 crore), investment in the subsidiaries (Rs 130 crore) and funding working capital requirements of a material subsidiary Latent View Analytics Corporation.

The company has never raised external capital and has been completely bootstrapped. It operates as per the age old traditions and finds it suitable for itself. Currently the promoters hold 68% of the total equity, which earlier was 80%. 

The company reported a CAGR of 3 per cent during FY19-21 but saw a 20 per cent growth in EBITDA and 24 percent in growth of PAT. Since the company’s existence, it has witnessed loss in only a single period i.e. in 2010 due to financial crisis.

About the company:

Founded in 2006, Latent View offers data analytics services, consulting, and data engineering solutions to customers across the banking, technology, industrial, and retail verticals, among others. In its 15 years of existence, the company has reported a loss only for one quarter, in early 2010. Viswanathan, an alumnus of IIT Madras and IIM Kolkata, is the founder of Latent View Analytics Ltd.

(Source: economictimes.com, Moneycontrol)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

The issue price of the shares was in the range of INR 1085- 1125 per share, with a lot size consisting of 12 shares amounting to INR 13,500. The subscription in retail category was 12.24 times, in the QIB category 91.18 times and in NII category 112.02 times, taking the whole subscription to 81.78 times.

The proceeds of issue were aimed to use for investment in their subsidiaries (FSN Brands, Nykaa Fashion) for setting up new stores, towards capital expenditure, repayment or prepayment of borrowings, enhancement of visibility and general corporate purposes.

The IPO saw a magnificent listing on the stock exchange by gaining 80% premium, thereby opening at INR 2001 apiece. It closed at a day’s high of INR 2206 per share. The market capitalization of Nykaa exceeded INR 1040 billion.

Founder, MD and CEO Falguni Nayar is very optimistic about the performance of Nykaa. She maintains that beauty and fashion are very high growth businesses with large market size. Nykaa already holds a bunch of brands that they are continuously building. They have recently acquired Dot & Key that adds to their skincare offering. Besides this, Nykaa has entered into inorganic acquisition of 20Dresses, a western wear brand and Pipa Bella, a jewellery brand. The holistic business model of Nykaa makes it a potential investment opportunity.

About the company:

Nykaa is an Indian e-commerce company, founded by Falguni Nayar in 2012 and headquartered in Mumbai. It sells beauty, wellness and fashion products across websites, mobile apps and 76 offline stores. As of 2020, it was valued at ₹85 billion (US$1.1 billion) making it the first unicorn startup headed by a woman in India. 

It sells products which are manufactured in India as well as internationally. In 2015, the company expanded from online-only to an omnichannel model and began selling products apart from beauty. In 2020, it retails over 2,000 brands and 200,000 products across its platforms.

(Source: economictimes.com)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.