Tag: Indian Market
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.
Go Fashion shares made a glamorous stock market entry on Tuesday, 30th November 2021. The stock opened for trading at ₹ 1,310 on the National Stock Exchange, up 89.86 per cent from its issue price of ₹ 690 per share. On the BSE, Go Fashion shares opened for trading at ₹ 1,316, up 91 per cent from the IPO price.
Go Fashion mopped up Rs 1,014 crore from the public issue that was subscribed 135.46 times during November 17-22. Non-institutional investors had put in bids 262.08 times the portion set aside for them and qualified institutional investors’ reserved portion was subscribed 100.73 times. Retail investors bought shares 49.70 times the portion reserved for them.
Go Fashions is the first company to launch a brand exclusively dedicated to the women’s bottom-wear category. It is a play on the unorganized to the modern retail shift. At the upper end of the price band, it is valued at 9.4 times, 14.6 times EV/sales for FY20, FY21, respectively.
The company has decided to allocate a total of 66,10,492 equity shares to 33 anchor investors at ₹690 apiece, aggregating the transaction size to ₹456.12 crore. Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Fidelity, SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Axis MF, Aditya Birla Sun Life MF and SBI Life Insurance Company are among the anchor investors.
The company held an 8 percent share in the organised women’s bottom-wear market in FY20. It has a healthy, asset-light business model and had operating cash flows despite volatility in profit in the last three fiscals.
Go Colors has a strong brand value with altering revenues, while the company went into losses in FY21. As the number of working women is improving along with the advancing fashions, it is anticipated that the company can have a great growth drive. The company has a fantastic management team with a mixed bag of financials, and it is expected that it may perform good.
The business model of company looks good with strengths like efficient product portfolio and a good supply chain, but still the company is susceptible to factors like changing consumer spending patterns, unable to adjust to changing likings and a possible slowdown due to the new variant of COVID which has caused the markets to correct themselves.
Company Profile
Go Fashion (India) Limited, also popularly known as Go Colors, was incorporated on 09 September 2010. It is classified as a public limited company and is in Chennai, Tamil Nadu. The Company is one the best retail players in women’s apparel. The Company offers leggings, jeggings, palazzo, pants, tops, t-shirts, and diaper shorts. Go Fashion serves customers in India.
(Source: Economics Times, Financial Express)
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 23rd 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.
