Indigo Paints IPO kicks off: Can this issue deliver solid returns?
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Indigo Paints public offer includes a fresh issue stocks aggregating to Rs 300 crore.
Indigo Paints IPO kicks off: Issue subscribed 1.9 times on day 1, HNIs portion fully booked
NEW DELHI: Indigo Paints initial public offer (IPO) opened for subscription on Wednesday. The IPO has come at a time when the offering of IRFC is already under way, and the one of Home First Finance is all set to hit the market on Thursday.
The Indigo Paints IPO is being priced at Rs 1,488-1,490 and comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares. Ahead of its IPO, the Sequoia Capital-backed paints maker raised Rs 348 crore from 25 anchor investors at Rs 1,490 per share.
Synopsis
By 5:00 pm on Tuesday, the issue received bids for 152.64 crore shares, which was 122.35 per cent of the issue size of 124.75 crore shares. The issue was subscribed 65 per cent on the first day.
Agencies
IRFC is the dedicated market borrowing arm of the Indian Railways.
NEW DELHI: The Rs 4,633-crore IPO of Indian Railway Finance Corporation (IRFC) got fully subscribed on the second day of the bidding process led by strong demand from retail investors.
By 5:00 pm on Tuesday, the issue received bids for 152.64 crore shares, which was 122.35 per cent of the issue size of 124.75 crore shares. The issue was subscribed 65 per cent on the first day.
Synopsis
By 5:00 pm, the issue received bids for 808.9 million shares, which was 64.8 per cent of the total issue size of 1,247.5 million shares. Ahead of the IPO, IRFC said on Saturday that it had raised Rs 1,398.63 crore from 31 anchor investors. The issue will close for subscription on January 20.
Agencies
On the other hand, interest from qualified institutional investors remained low as only around 50,000 shares were subscribed out of 356.37 million shares allotted for them.
MUMBAI: Indian Railway Finance Corporation s IPO took off to a strong note today, with the Rs 4,633-crore issue attracting 65 per cent bids on the first day.
By 5:00 pm, the issue received bids for 808.9 million shares, which was 64.8 per cent of the total issue size of 1,247.5 million shares. Ahead of the IPO, IRFC said on Saturday that it had raised Rs 1,398.63 crore from 31 anchor investors. The issue will close for subscription on January 20.
Synopsis
Most brokerages say the IRFC IPO is attractively priced and can be a good bet for conservative long-term investors, given the company s low-risk profile and consistent earnings visibility.
Agencies
The IPO of IRFC the dedicated market borrowing arm of the Indian Railways includes a fresh issue of up to 1,188,046,000 shares.
NEW DELHI: The Rs 4,633-crore IPO of Indian Railway Finance Corporation (IRFC) kicked off on Monday. Most brokerages advised investors to subscribe to the issue with a long-term investment horizon.
They said the IPO is attractively priced and can be a good bet for conservative long-term investors, given the company s low risk profile and consistent earnings visibility. That said, expansion drivers for return on equity (RoE) or margins are missing, analysts said. They expect good returns from the stock only in the long run.