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NEW DELHI: Analysts tracking primary issues believe one can subscribe to the initial public offering of Windlas Biotech, a Contract Development Manufacturing Organisation (CDMO), for the long term. The issue opens for subscription today. The Dehradun-based firm will raise Rs 165 crore through issuance of fresh equity shares, while the promoters and existing shareholders will offload 51,42,067 equity shares worth Rs 236 crore via an offer-for-sale (OFS). The price band for the issue is fixed at Rs 448-460 per share. “Windlas is focusing on formulation CDMO, and there is no peer company focusing solely on the CDMO model. Considering its return ratios and profitability, the issue seems to be fully priced. But factoring the growth drivers of the CDMO sector and opportunities available for the company, we assign a ‘subscribe for long term’ rating on the issue,” said Rajnath Yadav of Choice Broking. ....
Suryoday SFB IPO subscription status: Suryoday Small Finance Bank IPO subscribed 62% so far on Day 2 indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
NEW DELHI: The initial public offering (IPO) of Suryoday Small Finance Bank opened for bidding on Wednesday alongside the issue of Nazara Technologies. Analysts seem to have mixed views on the issue, with some pointing to the significant risks that it carries. The company seeks to raise Rs 581 crore. The primary purpose of the IPO is to meet RBI’s listing requirement within three years of starting banking operations. Unfortunately, it’s being forced to launch its issue amid a pandemic that has left it with more than a few chinks in the armour. Rajiv Mehta, Lead Analyst for Institutional Equities at Yes Securities, said he does not have a positive view on this IPO for various reasons. He said the company’s asset quality has been impacted severely by Covid-19 and the overall stress remains inadequately addressed. At the same time, its loan-assets diversification is not credible enough, he said. ....
Suryoday SFB IPO subscription status: Suryoday SFB IPO subscribed 42% on Day 1 indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.