Category: IPO Watch

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IPO Watch

Robinhood’s (HOOD) IPO publicly filed its S-1 to register

The company, which will list under the ticker name HOOD, sold 52.4 million shares for $32 billion, somewhat less than expected.

Robinhood is raising money by selling shares to the general public, allowing the company to swiftly raise a substantial sum of money. It is one of the most high-profile IPOs of 2021. 

On March 23, 2021, Robinhood filed a confidential initial public offering (IPO). Robinhood filed an amendment to its S-1 form on July 19, 2021, reporting the sale of 52.4 million shares.

It expects to raise $ 2.3 billion from its initial public offering. It plans to utilize the funds to develop new goods, increase marketing spending, and expand its business. 

Over the course of its eight-year existence, the stock trading app has raised $ 5.6 billion in 23 consecutive investment rounds.

The company has yet to finalize the listing date of Robinhood’s IPO, which will be listed on the Nasdaq stock exchange under the ticker code HOOD.

Company Profile

Robinhood (HOOD) was founded by Stanford graduates Vlad Tenev & Baiju Bhatt in 2013. A broker-dealing company named Robinhood functions similarly to any other financial institution that allows the purchase and sale of securities. The firm is FINRA-regulated, a member of the Securities Investor Protection Corporation, and registered with the Securities and Exchange Commission. The Securities and Exchange Commission (SEC) regulates the financial markets. Robinhood, founded in Silicon Valley in 2013, was the first company to offer a mobile-first stock trading experience. The company’s application is sleek and simple to use, and it has made it easier for regular investors to buy derivatives, allowing them to speculate on future stock price swings. In addition, Robinhood pioneered the zero-fee business strategy in the stock brokerage industry.

(Source: FactSet)

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IPO Watch

True Balance plans to break even by the end of the year and list by 2024.

True Balance is seeing a lot of interest in its small loans, which has resulted in a 3x increase in revenue for the platform

True Balance’s revenue rose by 3X, and by November-December this calendar year, the company expects to be EBITDA favorable and break-even, he said. True Balance India is a completely owned subsidiary of Korea’s Balancehero Co Ltd, which owns and runs the ‘True Balance’ lending platform.

True Balance is an RBI-approved online service that arranges loans through True Credits, an RBI-licensed NBFC. Balancehero was launched in Korea in 2014 by Cheolwon ‘Charlie’ Lee and introduced the True Balance app in India in 2016 to help consumers handle their mobile recharge, bill payments, and balance check more conveniently. True Credits acquired their licence from the RBI in 2019, after which True Balance began financing.

Lee said the company is ready to listing in India and overseas when questioned about IPO ambitions. In 2021, the company is planning to treble its sales, which was USD 10 million in 2020. True Balance, which employs over 200 people, the majority of whom are located in India, is also trying to expand its workforce.

Lee found that the company has grown by 30 to 50 percent month over month, with the goal of concentrating on non-online payment and non-credit score customers.

Company profile

Develop a culture within the organisation that supports freedom of expression, fair opportunity for progress, open channels of communication, and complete transparency, all of which are guided by our 5 Core Values. Employees are at the centre of every decision, and this is what propels forwards.

Employees at Balancehero India are exposed to a neo-South Korean culture with simpler organisational structures, open office spaces, and a vibrant atmosphere that encourages everyone to contribute to the company’s ultimate goals. As a way of showing thanks where it is due, keep employees engaged and motivated through feedback and monthly prizes.

Souce: Economictimes

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IPO Watch

Nykaa, an Indian cosmetics firm, is planning an IPO to raise $500 million

Within months, sales had risen from 60 daily orders to over 1,000 orders. Nykaa capitalised on its success by tailoring products to Indian skin tones, skin types, and weather conditions. It introduced a wide range of nail colours, which presently number over 2,700.

It also introduced customers to make-up fundamentals like foundation, which it now provides in over 1,500 hues.

According to a copy of Nykaa’s draught red herring prospectus dated Monday, the company’s IPO will include a fresh issue of shares for up to 5.25 billion rupees ($70.63 million) and an offer for sale of up to 43.1 million shares.

Nykaa, which began selling cosmetics and grooming products on its website and apps in 2012, surged in popularity before expanding into fashion, pet care, and household supplies.

According to the prospectus, the company had 43.7 million downloads across all of its mobile applications as of March 31. It also has an offline presence in India, with 73 physical outlets spread over 38 cities.

Aside from TPG, the company has investors such as Fidelity Investments and Alia Bhatt, a well-known Indian film star. According to the prospectus, Nykaa would use the IPO proceeds to open new retail outlets, support capital expenditures, and repay debts.

Nykaa’s strategy has been to spend in technology, marketing, and product extensions in order to maintain its position.

Its online offerings, similar to Netflix Inc.’s movie recommendations, use algorithms to recommend things based on what users have already purchased.

(Source: Fact Set)

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IPO Watch

CarTrade Tech IPO price band fixed at Rs. 1,585 – 1,618to raise Rs. 2,999 crore

On August 6, a day before issue opening, the corporation will open its anchor book, if any, for a day.

The public offering of 1,85,32,216 equity shares is a full offer for current selling shareholders to sell their shares. The total value of the offer is Rs 2,998.51 crore.

Highdell Investment 84,09,364 equity shares, MacRitchie Investments Pte Ltd 50,76,761 equity shares, and Springfield Venture International 17,65,309 equity shares will be sold through the IPO by CMDB II.

Bina Vinod Sanghi (jointly held with Vinay Vinod Sanghi) will sell 1,83,333 equity shares, Daniel Edward Neary will sell 70,000 equity shares, Shree Krishna Trust will sell 2,62,519 equity shares, Victor Anthony Perry III will sell 50,546 equity shares, and Vinay Vinod Sanghi (jointly held with Seena Vinod Sanghi) will sell 4,50,050 equity shares.

Investors can bid for as few as 9 equity shares and as many as 9 equity shares after that.

The company has set aside 50% of the overall offering for eligible institutional purchasers, 35% for retail investors, and the remaining 15% for non-institutional buyers.

With 34.44 percent of the company, Mauritius-based Highdell Investment is the largest shareholder, followed by MacRitchie Investments with 26.48 percent, CMDB II with 11.93 percent, Springfield Venture International with 7.09 percent, and Vinay Vinod Sanghi with 3.56 percent.

CarTrade is a multi-channel auto platform that covers a wide range of vehicle types and add-on services. CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto, and AutoBiz are some of the company’s brands.

The company uses these platforms to make it simple and efficient for new and used car buyers, dealerships, OEMs, and other businesses to buy and sell their automobiles.

(Source: Fact Set)

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IPO Watch

Sweetman Renewables Plans for Its ASX Debut with a Pre-IPO Raise

Sweetman Renewables is aiming for the biomass and green hydrogen industries with a $4 million pre-IPO capital raise ahead of its ASX launch later this year. The listing date is later this week.

With the addition of three divisions covering hydrogen production, biomass supply, and the sale of high-quality timber products, the company hopes to more than tenfold its revenue base.

This potential has already been recognised, with the company recently negotiating a 20-year biomass supply contract with a Japanese conglomerate worth US$90 million.

It is also in advanced talks with Verdant Earth Technologies about becoming the primary supplier of Verdant’s $550 million biomass power project in the Hunter Valley.

Sweetman Renewables intends to raise only $4 million in the pre-IPO round. As a result, Sweetman is trying to leverage its sustainable biomass to manufacture green hydrogen, which Goldman Sachs predicts will be a US$10 trillion market by 2050.

Company Profile

Sweetman Renewables is developing a hydrogen production plan to become one of the largest true green hydrogen producers, leveraging its sawmill operation to offer biomass and green hydrogen for sustainable energy. Using sawmill operations to supply biomass and green hydrogen for long-term energy.

(Source: Morningstar)

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Nuix share price rises on Macquarie’s IPO review verdict

While Macquarie claims to have found no evidence of misconduct, Nuix’s IPO is still under investigation by the Australian Securities and Investments Commission (ASIC). Some of the market’s concerns appear to have subsided. Today’s closing price for Nuix was $2.53, up 1.2 percent.

According to the Australian Financial Review, Macquarie’s chairman, Peter Warne, talked to the media today ahead of the company’s annual general meeting. He reportedly stated that Macquarie’s IPO team studied Nuix’s prospectus and float and found nothing suspicious.

Nuix had Macquarie as a supporter when it went public on the ASX. Macquarie was also Nuix’s largest shareholder, owning over 70% of the IT firm prior to its IPO. Macquarie currently owns about 30% of Nuix’s stock.

ASIC suspects Doyle may have informed his brother about Nuix’s February downgrading, according to court documents. Doyle’s brother is then accused of selling 1.8 million Nuix shares to avoid a $5.7 million loss.

Despite today’s advances, Nuix’s stock remains in negative territory. Its stock is currently trading for 68 percent less than it was when Nuix went public in December. With around 317 million shares outstanding, the company has a market capitalization of around $793 million.

Company Profile

Nuix specializes in transforming massive amounts of messy data – from emails, social media, communications and other human-generated content – into actionable intelligence. With Nuix’s investigative analytics and intelligence software, you can understand the context and connections across billions of items in your data – search it, filter it, visualize it, analyze it and find the truth it holds.

(Source: FactSet)

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The share price of Vulcan (ASX: VUL) is being closely monitored. Following the spin-off IPO Update

Money bag with the word IPO (Initial public offering; stock market launch) and a calculator. The first public sale of shares of a joint stock company. Business and finance concept

Vulcan’s non-core, battery metal projects will be taken over by it. Kuniko will become a zero-carbon copper, nickel, and cobalt producer with properties in Scandinavia as a result of this deal.

The first offering allowed interested individuals to purchase one of 12.5 million Kuniko shares for 20 cents each. A 1:4 pro rata priority offer allowed Vulcan owners to purchase about 26.93 million Kuniko shares for 20 cents each.

The spin-off was first announced in April by the corporation. The stock price of Vulcan then dropped as a result of the announcement.

Kuniko has raised $7.88 million through its prospectus offerings to fund its operations. Kuniko plans to go public on the ASX on August 23rd.

Vulcan’s stock is now trading currently on 30th July 2021 at $9.08. The Vulcan’s recent ASX performance has been outstanding. Vulcan shares are now worth 222 percent more than they were at the beginning of 2021. They’ve also increased by 1,682 percent over the same period last year.

Vulcan Energy Resources Ltd’s current normalized EBIDTA is recorded at (889695), P/E ratio is ($0.08) and EPS is marked at (0.09). And its 1 year change is reported at +2007.53%. Vulcan has a market capitalisation of roughly $969 million at its current share price.

Company Profile

Vulcan Energy Resources Ltd (ASX: VUL) was founded by Dr. Frencis Wedin on 2nd May 2018 and it’s listed on the ASX under the ticker KNI. Vulcan Energy Resources Limited is an energy metals exploration firm established in Australia. In Germany’s Upper Rhine Valley, the company is working on a combined geothermal and lithium extraction project. The Company’s zero-carbon lithium extraction method is powered by sustainable geothermal energy and generates renewable energy as a by-product. From its combined geothermal and lithium resource in Germany’s Upper Rhine Valley, Vulcan Energy Resources Limited hopes to develop a battery-quality lithium hydroxide chemical product with a net zero carbon footprint. It is established with the intention of exploring and developing battery metals.

 (Source: FactSet)

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ipo IPO Watch

Glenmark Life Sciences IPO subscribed 1.43 times on day 1, retail portion booked 2.73 times

The size of the IPO has been cut to 1.5 crore equity shares after the business raised Rs 454 crore from anchor investors on July 26, a day before the sale was scheduled to commence.

Retail investors’ reserved portion has already been subscribed 5.16 times, while non-institutional investors’ portion has been subscribed 85 percent.

Qualified institutional buyers have placed bids for 10,540 equity shares out of a total of 42.42 lakh equity shares reserved for them.

Glenmark Pharma’s subsidiary seeks to collect Rs 1,513.6 crore through a public offering that includes a fresh issue of Rs 1,060 crore and a promoter offer to sell 63 lakh equity shares.

The offer’s price band has been set at Rs 695-720 per equity share, with the offer closing on July 29.

Company Profile

Glenmark Pharmaceuticals Limited is an Indian pharmaceutical company headquartered in Mumbai, India that was founded in 1977 by Gracias Saldanha as a generic drug and active pharmaceutical ingredient manufacturer; he named the company after his two sons. The company initially sold its products in India, Russia, and Africa. The company went public in India in 1999, and used some of the proceeds to build its first research facility. Saldanha’s son Glenn took over as CEO in 2001, having returned to India after working at PricewaterhouseCoopers. By 2008 Glenmark was the fifth-biggest pharmaceutical company in India.

(Source: Factset)

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ipo IPO Watch

Glenmark Life Sciences raises Rs 454 crore from cornerstone investors ahead of its first public offering.

According to a regulatory filing, the business has agreed to distribute 63,06,660 equity shares to 19 cornerstone investors at a price of Rs 720 per share, for a total of Rs 454 crore.

Amongst those cornerstone investors are HSBC Global Investment Funds, Government Pension Fund Global, Oaktree Emerging Markets Equity Fund LP, Copthall Mauritius Investment Ltd-ODI account, Societe Generale-ODI, Kuber India Fund, and Reliance General Insurance Company.

Glenmark Pharma would issue new equity shares worth up to Rs 1,060 crore and sell up to 63 lakh equity shares in the first public offering (IPO). The issue will begin on July 27 and end on July 29, with a price range of Rs 695-720 per share.

The proceeds from the new issuance will be utilised to cover the promoter’s outstanding purchase consideration for the API business spin-off as well as fund capital expenditure requirements. The IPO will raise Rs 1,513.6 crore at the top of the pricing band.

About Company

Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals NSE -3.62 percent, is a dominant developer and manufacturer of high-value, non-commoditized active pharmaceutical ingredients (APIs) in chronic therapeutic areas such as cardiovascular disease, CNS disease, pain management, and diabetes. APIs for gastrointestinal disorders, anti-infectives, and other therapeutic fields are also manufactured and sold by the firm.

Source : Factset

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ipo IPO Watch

The share price of Open Negotiation has increased by 60% since its IPO

which is 60% greater than the company’s prospectus offer price of 20 cents. Openn Negotiation is a real estate technology firm. Its cloud-based Openn platform enables real estate bids to take place in real time and transparent private treaty offers to be submitted. So far, the platform has over $2 billion in property sales which is used by over 3,300 real estate agents across Australia and New Zealand.

On the ASX, the real estate technology stock is off to a strong start

The company had roughly 191.7 million shares outstanding at the time of its listing. At 20 cents per share, Openn’s market capitalisation is expected to be around $38 million. Openn Negotiation has a market capitalisation of around $57.5 million at its current share price.

The company anticipated that its IPO would raise $9 million before expenses.The funds will be used by Openn Negotiation to expand its business in Australia and New Zealand, as well as to assess the market in the United States. It intends to enter the American market in the future.

Because it did not believe it could prepare reliable forecasts, the company did not include financial guidance in its offer document. The company’s full-year earnings for the 2020 fiscal year were $851,402 with a loss of around $1.2 million before taxes. Openn also had $668,979 in assets and $448,975 in debt.

Currently, fees charged to upload properties onto the platform account for 90% of Openn Negotiation’s revenue. An agent must pay $500 to upload a property to the Openn platform. It also makes money by training real estate agents to use the platform, a service that costs $135.45 per agent.

Company Profile

The need for a better way of doing things prompted the creation of Openn Negotiation, as it did many other innovative developments.In 2016, our Founders, Peter Gibbons, a technology developer, and Peter Clements and Brad Glover, leading Western Australian real estate brokers, began collecting years of input from sellers, purchasers, and agents on the problems of the present sales process.

Source : fool.com

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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.