Jupiter Wagons (JWL) lists on Bourses

               Jupiter Wagons (JWL) lists on Bourses!
Completes NCLT approved reverse merger with CEBBCO
Shares of JWL to commence trading on BSE and NSE
on 30^th June 2022

Jupiter Wagons Ltd. (JWL), a leading company providing complete mobility solutions, who had announced the reverse merger with CEBBCO (Commercial Engineers & Body Builders Company Ltd.), through the acquisition the company today completed its listing on the bourses. Erstwhile CEBBCO a prominent manufacturer of tipplers, trailers, and specialized defense vehicles in the country was acquired by JWL in a buyout (of its organization). The equity shares of the company has commenced trading on the BSE and the NSE under the new ticker symbol ‘JWL. The business will have 38,74,47,419 shares at the exchange under the provisions of the amended merger agreement.

The consolidation will result in significant synergies between business operations, allowing for more efficient cash management and unrestricted access to cash flow to be deployed more efficiently to fund growth opportunities, thereby improving stakeholders' value. It will produce long-term benefits that will boost shareholder value. Additionally, the combined business's improved net worth and backward integration of the operation, including lower cost of capital, cost savings due to focused operational efforts, rationalization, standardization, simplification of business processes, productivity gains, procurement efficiencies, and distribution logistics. The group revenue of JWL currently stands at Rs. 1,178.35 crores. Jupiter Group has signed up MOU with CAF, Spain for the manufacturing and supply of Metro coaches and similar Urban Rapid Mass Transit Systems along with Main Line High Speed Trains through a Joint Venture Company in India

Vivek Lohia, Managing Director, Jupiter Wagons Ltd. said, “As a result of the merger, JWL will be able to use its financial strength to undertake a growth phase that will include upgrading operations to meet current industry demand, expanding into new product development, and market sector consolidation. It will also contribute to the formation of a powerful organization with more capital and assets. We believe that the merger signifies a transformative event for Jupiter Wagons Group allowing us to reach the next level of growth while also improving our technology and providing the greatest mobility solutions in the country. As a result of this reverse merger, we are foreseeing many milestone achievements in the future.”

JWL recently entered the electric mobility market with the launch of ‘Jupiter Electric Mobility’ (JEM) focusing on commercial EV vehicles. The company has formed a joint venture with EA GreenPower Private Limited a wholly-owned subsidiary of GreenPower Motor Company Inc.(“GreenPower”). With the JV with GreenPower, JWL seeks to align the technology assets of both the organizations by generating safety and sustainability in the EV market.

JWL’s expansive products span across Wagons, Coupler, Draft Gear, Bogie, CMS Crossings, Passenger Coach (LHB), Metro Coach, and Loco. Their clientele includes the Ministry of Defense, Indian Railways, TATA Motors, JSW, Adani, Ultratech, Reliance Industries Ltd, Ashok Leyland, DP World, Konioke Group, Eicher, L&T, GATX, AMW, Kalburgi Cement, Unitrac, Wabtec and more.

IPO of Exxaro Tiles Limited listed on

                                 IPO of Exxaro Tiles Limited listed on Bourses

Gujarat based Exxaro Tiles Limited, one of the leading manufacturer of vitrified tiles in India having one of the highest operating profit margins in the organized ceramic industry; listed at BSE and NSE at Rs. 126 per share, a 5% per cent premium over its issue price of Rs. 120. The shares of the company at day end closed at Rs. 132.25 per share on BSE and Rs. 132.30 per share on NSE. The initial public offering was offered at a lower price band of Rs. 118 per share and higher price band of Rs. 120.

As per BSE, the total quantity traded stood at 7 .41 lac shares with a delivery quantity percentage of 100%. Quantity traded and delivery percentage at NSE was approx. 46.33 lacs shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 69.29 crores. 

The Market Capitalization of the Company post today’s closing price stood at Rs. 591.70 crore as per BSE and Rs. 591.92 crore as per NSE.

The Offer was a complete offer for sale (“Offer for Sale”) at the upper price band of Rs. 120 per share, received bids of 25,84,73,750 shares against the offered 1,14,50,675 equity shares. The portion reserved for retail investors was subscribed 39.88 times. While the Qualified Institutional Buyer category was subscribed 17.67 times, the Non-Institutional Investor category was subscribed 5.36 times and Employee Reserved category was subscribed 2.53 times.

Key brokerage houses like Arihant Capital, SMC Global, Canara Bank Securities, HEM Securities have given recommendations of "Subscribe" to the issue for long term perspective while highlighting the key strengths of the company. Exxaro has two state-of-the-art manufacturing facilities which are located at Padra and Talod respectively in Gujarat with a combined installed production capacity of 132,00,000 sq. mt. p.a. Notably, Talod Unit is one of the single largest plant for manufacturing glazed vitrified tiles under one roof in India.

It is focused on R&D efforts by developing products which are innovative and in line with the trends. R&D efforts leads to 1) 3D Effect in Double Charge Vitrified Tiles 2) Replica of Natural Stones in Double Charge Vitrified Tiles and 3) High transparent glaze in weight method for glazed vitrified tiles.

Exxaro’s integrated model enables developing insights across the entire value chain right from product design, process development, and manufacturing to marketing. This helps the Company build brand faster and stronger, besides clocking high operating margins. Company’s Key Growth Drivers are strengthening brand value, Focus on spreading dealer network, Increase sales by enhancing manufacturing capacities and continues improvement in the operating efficiencies through technology enhancements and setting up own gas station.

Devyani International Limited makes a strong debut on

         Devyani International Limited makes a strong debut on the bourses

Devyani International Limited (the “Company”), the largest franchisee of Yum Brands in India, listed on the NSE at Rs. 140.90 and on BSE at Rs. 141.00 per share, approx. 56%  higher than its issue price of Rs. 90/-. Among the four scrips listed today, it was the best performing.

The shares of the company at day end closed at Rs. 123.35 per share on BSE and Rs. 122.60 per share on NSE.

This is the largest IPO by a QSR Company in India and is the second-highest subscribed IPO this year. The Public Offer has raised approx. 1,18,000 Cr demand from the investors – again a record performance.

 

On the occasion, Mr. Ravi Kant Jaipuria, Chairman- Devyani International Limited said “We have embarked upon a new phase of our journey, today. I am very happy to share that we have successfully completed the initial public offering of Devyani International Limited that witnessed a strong reception from the investor community. This brings on board marquee investors across the spectrum of FIIs, domestic mutual funds, and insurance companies. I would like to take this opportunity to welcome our new shareholders and thank all of them and our bankers, advisors, business partners , and employees for their whole-hearted support to our IPO. We are very excited as we list Devyani International as a public entity on the Indian stock exchanges. This will augment our shareholder base, improve stakeholder value and expand our financial flexibility to address medium-to-long-term growth prospects.”

The Market Capitalization of the Company post today’s closing stood approx. at Rs. 14,833 crore at BSE.

The initial Public Offering of the company was Rs 1838 cr and the issue was closed on 6^th August 2021. The portion reserved for retail investors was subscribed 39.51 times. While the Qualified Institutional Buyer category was subscribed 95.27 times, the Non-Institutional Investor category was subscribed 213.06 times and Employee Reserved category was subscribed 4.70 times.

Kotak Mahindra Capital Company Ltd, CLSA India Pvt Ltd, Edelweiss Financial Services Ltd, Motilal Oswal Investment Advisors Ltd are the BRLMs to the Offer.

Aptus Value Housing Finance India Limited debut on

 Aptus Value Housing Finance India Limited debut on bourses, Scrip recovers 

Aptus Value Housing Finance India Limited, one of the largest housing finance companies in South India in terms of asset under management and having the largest branch network in South India among the peer set, as of March 31, 2021 (Source: CRISIL Report); listed on BSE at Rs. 329.95 at 6.53% discount over its issue price. The scrip got listed at NSE at Rs. 333 per share, a 5.66 % per cent discount over its issue price of Rs 353. The shares of the company at day end closed at Rs. 346.50 per share on BSE and Rs. 352 per share on NSE. 

The initial public offering was offered at a lower price band of Rs 346 per share and higher price band of Rs 353.

As per BSE, the total quantity traded stood at 16.21 lac shares with a delivery quantity percentage of 62.32%. Quantity traded and delivery percentage at NSE was approx. 3.25 crore shares and 66.47 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1176.29 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 17,171.87 crores as per BSE and Rs. 17,444.44 crores as per NSE. 

The Offer was comprising of a fresh issuance of Equity Shares, aggregating up to Rs.500 crores and an offer for sale of Equity Shares aggregating up to 64,590,695 Equity Shares by the Selling Shareholders. The portion reserved for retail investors was subscribed 1.35 times. While the Qualified Institutional Buyer category was subscribed 32.41 times, the Non-Institutional Investor category was subscribed 33.91 times.

Nirma Group backed, Nuvoco Vistas list on

 Nirma Group backed, Nuvoco Vistas list on BSE and NSE

 

Nuvoco Vistas Corporation Limited, India’s fifth largest cement company by capacity; listed on BSE at Rs. 471 at 17.36% discount over its issue price. The scrip got listed at NSE at Rs. 485 per share, a 14.91 % per cent discount over its issue price of Rs 570. The shares of the company at day end closed at Rs. 531.30 per share on BSE and Rs. 529 per share on NSE. 

The initial public offering was offered at a lower price band of Rs 560 per share and higher price band of Rs 570.

As per BSE, the total quantity traded stood at 8.12 lac shares with a delivery quantity percentage of 20.36%. Quantity traded and delivery percentage at NSE was approx. 2.20 crore shares and 52.01 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1210.38 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 18,976 crores as per BSE and Rs. 18,893.56 crores as per NSE.

 

 =The total Offer size was up to Rs. 5,000 crores with a fresh issuance of Equity Shares, aggregating up to Rs. 1,500 crores and an offer for sale of Equity Shares aggregating up to Rs. 3,500 crores, by Selling Shareholder. The portion reserved for retail investors was subscribed 0.73 times. While the Qualified Institutional Buyer category was subscribed 4.23 times, the Non-Institutional Investor category was subscribed 0.66 times and overall Issue was subscribed 1.71 times.

In comparison to other major cement producing countries, India exhibits the lowest per capita cement consumption at 200-250 kg, which is nearly half of world average of 500-550 kg. China has the highest per capita cement consumption of 1650-1750 kg, followed by Korea at 900-950 kg. However, despite a low per capita cement consumption, India is the second largest cement consumer in the world behind China. Crisil Research expects cement demand to register a CAGR of 6-7% in FY21-26, driven by a raft of infrastructure investments and healthy revival in housing demand.

Barbeque Nation lists on the bourses

 Barbeque Nation lists on the bourses, closes 18% up at Rs 590 per share

Barbeque-Nation Hospitality Limited one of India’s leading casual dining restaurant chains (in terms of outlet count as on September 30, 2020); listed on the NSE at Rs. 489.85, at a 2% discount over its issue price. The scrip got listed at BSE at Rs. 492 per share, a 1.6% per cent discount over its issue price of Rs 500.  The shares of the company at day end closed at Rs. 590.40 per share on BSE and Rs. 587.80 per share on NSE. The initial public offering was offered at a lower price band of Rs 498 per share and higher price band of Rs 500.

As per BSE, the total quantity traded stood at 8.96 lac shares with a delivery quantity percentage of 44.83%. Quantity traded and delivery percentage at NSE was approx. 54.20 lac shares and 37.87% respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 354.11 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 2216.53 crore as per BSE and Rs. 2206.77 crore as per NSE.

The offer aggregated upto Rs 180 cr fresh issue and OFS of upto 54,57,470 equity shares, which was opened from March 24 to 26, and had received 5.98 times bids, with the HNI quota (NII) receiving 3.10 times subscription, the QIB quota 5.11 times, the retail quota 13.13 times and employee quota 1.02 times.

Speaking on this momentous occasion Mr. Kayum Dhanani, Managing Director, Barbeque Nation Hospitality Ltd said, “We are extremely delighted to be part of the listed ecosystem in the country. This listing is the testimony to the strong foundation of our business model built on guest focus and employee focus culture. This is an important milestone in the Barbeque Nation journey and we will continue to focus on our strengths and profitably grow our network.”

Further to this, Mr. Rahul Agrawal, Chief Executive Officer & Whole Time Director, Barbeque Nation Hospitality Ltd said, “We are thankful to all our stakeholders for a great response to the IPO and listing of Barbeque Nation. This journey would not have been remotely complete without our team members who have worked extremely hard to deliver the results over last so many years. Despite the impact of Covid-19 on our sector, the resilience and perseverance of our team ensured that we bounce back stronger with the addition of a sustainable delivery business, agility to reduce costs and a strong balance sheet post equity capital raise.”

Sunteck Realty Ltd enters JV to develop 7 acres of

Sunteck Realty Ltd enters JV to develop 7 acres of waterfront residences at Borivali West in Mumbai; Estimated to see a revenue generation of over INR 1750 crores

 

• Project to see a potential development of approximately 1mn sq ft
• Revenue generation of Rs 1750 crore (Rs17.5 billion) envisaged for the next 4-5 years
• Luxury residential development with premium sea view living
• JLL India was the exclusive transaction partner

 

Sunteck Realty Limited, the BSE and NSE Listed premium property developer in Mumbai has secured a marquee ~7 acre land parcel at Borivali (West). Sunteck Realty Limited would develop a luxury residential project in the upmarket residential locality. JLL India was the exclusive transaction partner for the JV.

 

Acquired under the asset light JDA model the residential project in the western suburbs of the city is spread across 7 acres and will have approximately 1 mn sq. ft of development potential. It is expected to generate a project top line of around INR 1,750 crore over the next 4-5 years further strengthening the cash flow and the balance sheet of the company. The project is likely to offer unobstructed views of the mangroves of Borivali and Gorai right up till the Global Vipassana Pagoda and beyond.

 

“We are pleased to have entered this joint venture. Given the land parcel is overlooking the sea, this development shall provide an opportunity to curate a unique and world class residential product consistent with the Sunteck brand. We shall bring in our best in class construction and development capabilities of luxury living. Our endeavor is to create a landmark development in this micro-market” said Mr. Kamal Khetan, Chairman, Sunteck Realty Limited.

 

"Mumbai western suburbs continue to remain one of the most dominant and active end user residential markets in the country. Historically low home loan rates along with government incentives as well as rationalisation of prices by real estate developers has led to healthy ready inventory absorption in the past few quarters. As such, we feel the trend to percolate to newer launches and under-construction projects as well. Stronger brands should continue to observe aggressive sales going ahead" said Nishant Kabra, Senior Director & Head – Land and Development Services (West India), JLL.

 

Borivali West - located in the western suburb of Mumbai has transformed into an excellent residential destination owing to good road/rail connectivity and social infrastructure. Beyond this, the upcoming metro line 2A connects Dahisar to DN Nagar and further to other parts of the city via multiple lines. The metro development along with the Coastal Road Project will transform this micro-market and solidify the city’s western suburbs as a much more attractive residential and commercial destination due to significantly reduced travel time.

 

Mrs Bectors Food's Rs 540-cr IPO to open on

Mrs Bectors Food's Rs 540-cr IPO to open on 15^th Dec 2020

 

Mrs Bectors Food Specialities initial public offer of Rs 540-crore will open on Tuesday, 15^th December 2020 for public subscription. The price band has been fixed at Rs 286-288 per share for the initial public offering. The IPO comprises fresh issuance of shares worth Rs 40.54 crore and offer for sale to the tune of Rs 500 crore by existing shareholders.

 

The initial share-sale will open on December 15 for public subscription and close on December 17. Net proceeds of the issue would be utilised for financing the project cost towards expansion of the Rajpura manufacturing facility by establishing a new production line for biscuits and for general corporate purpose

 

Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns. It markets a wide variety of biscuits and bread under the flagship brand "Mrs Bector''s Cremica" and the "English Oven" respectively.

 

Linus Private Limited, Mabel Private Limited , GW Confectionary Pte Ltd and GW Crown Pte Ltd will be offering stocks in the initial share-sale. SBI Capital Markets, ICICI Securities and IIFL Securities will manage the company''s initial public offer (IPO).The equity shares will be listed on BSE and NSE.

Uttar Pradesh Govt’s first 200 Cr Lucknow

 Uttar Pradesh Govt’s first 200 Cr Lucknow
Muni Bond lists on BSE

The Lucknow Municipal Corporation which raised 200 crs via Municipal Bonds on private placement basis using the BSE bond platform listed on the exchange today. It received 21 bids and subscribed by 4.5 times.  Corporation received bids for Issue size of Rs 200 Crs within 60 seconds of the issue opening, which opened for subscription on 13th November 2020.  It’s one of the 8 cities in India that have capitalized on the new guidelines to fund the AMRUT and Smart Cities Mission to raise an aggregate of 3690 crs as per Govt released data.

The capital raised is proposed to partially fund the Amrut projects and other infrastructure projects which had a earmarked requirement of INR 3,109.5 mn. The AA Stable and AA(CE) Stable rated bonds by India and Brickwork Ratings have a tenure of 10 years and states that the principal amount will be paid in 7 instalments from 4th and 10th year.

The coupon rate of the taxable bond was fixed at 8.5% per annum. The actual cost of borrowing will be approx. 7.25% after considering Rs 26 Crs incentive from Government of India for raising Municipal Bonds.

Speaking on this momentous occasion, Shri Yogi Adityanath, Chief Minister of Uttar Pradesh stated “It is a matter of pride for UP that the Lucknow Municipal Corporation has raised Rs 200 crore through its bond issue which got listed on BSE today. It is the trust of the investors which UP has earned during last three and a half years of governance. It will augment our effort to improve infrastructure in urban areas and it shows the improvement in the Industrial climate of the state and the trust the investors have reposed in the state machinery”.

On the occasion of the listing of the bonds, Ashish kumar Chauhan, MD & CEO of Bombay Stock Stated “ I would like to congratulate Lucknow Municipal Corporation for successfully raising Rs. 200 Crore by issuing Municipal Bond on BSE Bond platform. The order book was filled more than double in a matter of few minutes establishes Lucknow Municipal Corporation as a credible entity in the Indian bond market. BSE firmly believes that the Indian bond market has a potential for substantial growth. BSE Bond platform has helped bring in transparency and efficiency in price discovery for private placement of debt securities and the platform enables to subscribe seamlessly.”

On the Global Market of Municipal Bonds and it’s opportunities in India - Mr A.K. Mittal, MD & CEO, A. K. Capital stated “A big congratulation to Lucknow Municipal Corporation for raising Rs.200 crores at historical low rates. I feel proud to say that A.K. Capital has been a leading Merchant Banker in the Municipal Bonds space in terms of volumes. Lucknow Municipal Corporation bonds are backed by strong structured payment mechanism making it an secured investment with an attractive return for the investors. Indian Municipal Bond market is at a very nascent stage compared to the US Municipal Bond market but given the rapid pace of urbanisation, it is going to play a pivotal role in shaping the urban infrastructure sector in the country.”

The Merchant bankers to the bond issue were A.K. Capital Services Ltd and HDFC Bank Ltd.

SpiceJet statement on being designated as

SpiceJet statement on being designated as an Indian scheduled carrier to operate between India and the UK

July 24, 2020
Department of Corporate Services,
BSE Limited,
Phiroz Jeejeebhoy Towers,
Dalal Street,
Mumbai - 400001

Reference: Scrip Code: 500285 and Scrip ID: SPICEJET
Subject: Designation of SpiceJet as Indian scheduled carrier to UK

Dear Sir,

In continuation of our communication dated July 23, 2020 informing designation for
USA operations, we would like to further inform you that in terms of the Air Services
Agreement between the Government of India and the Government of the United
Kingdom, SpiceJet has been designated as Indian scheduled carrier to operate on
agreed services between India and the UK.

This is for your information and further dissemination.

Thanking you,
Yours truly,
For SpiceJet Limited
Chandan Sand
Sr. VP (Legal) & Company Secretary

ROSSARI BIOTECH – Stock price hits Upper circuit of

ROSSARI BIOTECH  – Stock price hits Upper circuit of 20% during intraday trades on DAY 1

Speciality Chemicals manufacturer Rossari Biotech’s IPO of Rs.496 crore which was oversubscribed about 80 times had a blockbuster Listing on DAY 1.

On listing day the share price discovered in the pre-market opening session was Rs. 669, a premium of 57% over the offer price of Rs. 425.

The share hit the upper circuit during intraday trades on both the BSE (Rs.804) & NSE (Rs.803.1), a 20% circuit to the discovered price.

The stock closed around Rs.742 on both the BSE & NSE, a 75% gain to the offer price of Rs.425 rewarding investors on Day 1.

The Market Capitalization of the Company post today’s closing price stands at Rs.3,850 crores.

Founded in 2009 by technocrat entrepreneurs Mr.Edward Menezes & Mr.Sunil Chari Rossari Biotech is a leading speciality chemical manufacturer catering to the  to the FMCG sector, Apparel industry, poultry and animal feed  industry.

Speaking on this momentous occasion - Mr. Sunil Chari, Managing Director, Rossari Biotech Limited said “We are truly overwhelmed and humbled to have witnessed such a strong opening of the Company’s stock at BSE after oversubscription of almost 79.37 times, considering it was the first IPO to have been launch in these pandemic times and turbulent market conditions.

Adding to the stocks overwhelming listing on the bourses - Mr. Edward Menezes, Executive Chairman, Rossari Biotech said, “We thank the investors for expressing their confidence in us. We also stand firmly in our resolve and look forward to work towards optimum utilization of fund for repayment of debts, funding working capital requirements and general corporate purposes. We are grateful to our partners, customers and investors who have been a part of our journey, with us,” 

Ashishkumar Chauhan CEO BSE stated, “We are delighted to welcome Rossari Biotech to the BSE family. It has been a long hiatus in IPO for many months since COVID epidemic started. Rossari Biotech’s success in retail, HNI and institutional segments brings a good omen and shows tremendous appetite for good quality equity paper in Indian markets. BSE has been raising funds for corporates by way of bonds, commercial papers, sme, start up and raising rights issues during the Covid period. In the financial year 2020-21, from April 1,2002 till date, BSE has helped India Inc raise more than Rs 4.05 lakh crores.“