METRO BRANDS LIMITED INITIAL PUBLIC OFFERING TO

METRO BRANDS LIMITED INITIAL PUBLIC OFFERING TO OPEN ON FRIDAY, DECEMBER 10, 2021

 

·      Price Band fixed at Rs 485 to Rs 500 per equity share of face value of Rs. 5 each (“Equity Shares”)

 

·      Bid /Offer Opening Date – Friday, December 10, 2021 and Bid/ Offer Closing Date – Tuesday, December 14, 2021

Metro Brands Limited (The “Company”) to open its Bid / Offer in relation to its initial public offering on Friday, December 10, 2021 (“Offer”)

The Price Band of the Offer has been fixed at Rs. 485 to Rs. 500 per equity share of face value of Rs. 5 each. Bids can be made for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.

The Offer comprises a fresh issue of Equity Shares aggregating up to Rs. 295 crores by the Company (The “Fresh Issue”) and an offer for sale of up to 21,450,100 Equity Shares by the Selling Shareholders. The offer for sale comprises up to 13,015,000 Equity Shares by the Promoter Selling Shareholders, up to 8,427,000 Equity Shares by the Promoter Group Selling Shareholders and up to 8,100 Equity Shares by the Other Selling Shareholder. (The “Offer for Sale”).

 

The Company has in consultation with the BRLMS, undertaken a private placement of 73,136 Equity Shares for cash consideration aggregating to Rs. 3.29 crores. Accordingly, the fresh issue size as was stated in the Draft Red Hearing Prospectus, was reduced from up to Rs. 250 crores to up to Rs. 246.71 crores. Thereafter, Company has increased the fresh issue size up to Rs. 295 crores, in accordance with and subject to, the provisions of the SEBI ICDR Regulations.

This is an Offer in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs and such portion, the “QIB Portion”), provided that Company and the Promoter Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”)

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price All potential Bidders (except Anchor Investors) are mandatorily required to utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of RIBs using the UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

For details, see “Offer Information” beginning on page 360 of the Red Herring Prospectus.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on BSE and NSE.

Axis Capital Limited, Ambit Private Limited, DAM Capital Advisors Limited (Formerly IDFC Securities Limited), Equirus Capital Private Limited, ICICI Securities Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers

Initial public offering of Data Patterns (India) Limited’s

 Initial public offering of Data Patterns (India) Limited’s 

to open on 14^th December 2021

·         Price Band of ₹ 555 – ₹ 585 per equity share bearing face value of ₹ 2 each (“Equity Shares”).

·         Bid/Offer Opening Date – Tuesday, December 14, 2021 and Bid/Offer Closing Date – Thursday, December 16, 2021.

·         Minimum Bid Lot is 25 Equity Shares and in multiples of 25 Equity Shares thereafter.

·         The Floor Price is 277.50 times the face value of the Equity Share and the Cap Price is 292.50 times the face value of the Equity Share.

Risks to Investors: • Average Cost of acquisition of Equity Shares for the Selling Shareholders ranges between  ₹ 0.36 to  ₹ 63.65 and offer price at the upper end of the price band is ₹ 585  • Details of Acquisition of all Equity Shares transacted in last three years and one year:

Period	Weighted Average Cost of Acquisition Price (in  ₹)*	Upper end of the price band (₹ 585) is ‘X’ times the Weighted Average Cost of Acquisition	Range of acquisition price: Lowest Price -Highest Price (in  ₹)*
Last 1 year	109.71	5.33	0.00 – 577.00
Last 3 years	109.71	5.33	0.00 – 577.00

 

* Price has been calculated by adjusting for split and bonus of equity shares

• Weighted Average Return on Net Worth for Fiscals 2021, 2020 and 2019 is 18.94%. • The two BRLMs associated with the Offer have handled 39 public issues in the past three years, out of which 13 issues closed below the issue price on listing date. 

Data Patterns (India) Limited, vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the “Offer”) on Tuesday, December 14, 2021. The Bid/Offer Period will close on Thursday, December 16, 2021. The Price Band for the Offer has been fixed at ₹ 555 – ₹ 585 per Equity Share.

The public issue comprises a fresh issue of Rs 240 crore and an offer for sale of 59,52,550 equity shares by Selling Shareholders. The OFS includes sale of up to 19,67,013 equity shares by Srnivasagopalan Rangarajan, up to 19,67,012 equity shares by Rekha Murthy Rangarajan, up to 75,000 equity shares by Sudhir Nathan, up to 4,14,775 equity shares by G.K. Vasundhara and up to 15,28,750 equity shares by existing shareholders.

Florintree backed defence and aerospace electronics company has undertaken a pre-IPO placement of 10,39,861 equity shares aggregating for up to Rs 60 crore. The company intends to utilise net proceeds from the fresh issue to the extent of Rs 60.80 crore for prepayment / repayment of certain outstanding borrowings availed by the Company, Rs 95.19 crore for funding its working capital requirements, Rs 59.84 crore for upgrading and expansion of its existing facilities at Chennai and general corporate purposes.

Data Patterns has a net profitability growth of approximately 164% between Fiscal 2020 and Fiscal 2021 and is one of the fastest-growing companies in the Defence and Aerospace Electronics sector in India.  Its core competencies include electronic hardware design and development, software design and development, firmware design and development, mechanical design and development, product prototype design and development, manufacturing, functional testing and validation, environment testing and verification, and after sales support engineering services

The Company, in consultation with BRLM’s to the Offer, considered participation by Anchor Investors in accordance with the SEBI ICDR Regulations, whose participation shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Monday, December 13, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the red herring prospectus dated December 03, 2021 (“RHP”) filed with the Registrar of Companies, Tamil Nadu at Chennai (“RoC”).

S.J.S. Enterprises Limited (“Company”) is one of the leading players in

 S.J.S. Enterprises Limited (“Company”) is one of the leading players in the Indian decorative aesthetics industry in terms of revenue in Fiscal 2020 and as at March 31, 2021  (source: report issued in June 2021, titled “Assessment of Select Aesthetic Components” that has been prepared by CRISIL Research, a division of CRISIL Limited (“CRISIL Report”)).

 

The Company is proposing to open the initial public offering of its Equity Shares (the “Offer”) on Monday, November 01, 2021 and close it on Wednesday, November 03, 2021. The price band for the Offer has been determined at ₹531  – ₹ 542 per Equity Share.

 

The Offer is entirely an offer for sale of equity shares aggregating up to ₹ 7,100.00 million by Evergraph Holdings Pte. Ltd. and equity shares aggregating up to ₹ 900.00 million by K.A. Joseph (the “Selling Shareholders”).

 

The Company and the Selling Shareholders have, in consultation with the BRLMs to the Offer, considered participation by Anchor Investors in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “SEBI ICDR Regulations”), whose participation shall be on Friday, October 29, 2021, i.e., one Working Day prior to the Bid/Offer Opening Date. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers, , not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders, subject to valid Bids being received at or above the Offer Price.

 The Company is one of the leading decorative aesthetics suppliers with the widest product coverage across decorative aesthetics pertaining to major vehicle segments such as two-wheelers, passenger vehicles and consumer durables (source: CRISIL Report). In addition, it also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries (source: CRISIL Report). The Company has supplied over 115 million parts with more than 6,000 stock keeping units in Fiscal 2021 to around 170 customers in approximately 90 cities across 20 countries.

 

The company designs, develops and manufactures aesthetic products i.e., decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes, overlays, aluminum badges, in-mold label or in-mold decorations, lens mask assembly and chrome-plated, printed and painted injection moulded plastic parts.

 

The Company’s key customer base includes, well known automotive original equipment manufacturers such as Suzuki Motorcycle India Private Limited, Mahindra & Mahindra Limited, John Deere India Private Limited, Skoda Auto Volkswagen India Private Limited, Honda Motorcycle and Scooter India Private Limited, Bajaj Auto Limited, Royal Enfield (a unit of Eicher Motors Limited); Tier-1 automotive component suppliers such as Marelli UM Electronic Systems Private Limited, Visteon (subsidiaries and group companies of Visteon Corporation), Brembo S.P.A., and Mindarika Private Limited; well-known consumer durables/appliances manufacturers such as Whirlpool (certain entities controlled by Whirlpool Corporation located outside India), Panasonic India Private Limited, Samsung India Electronics Private Limited, Eureka Forbes Limited, Godrej & Boyce Manufacturing Company Limited, and Liebherr India Manufacturing Private Limited; medical device manufacturers such as Sensa Core Medical Instrumentation Private Limited as well as sanitary ware manufacturers such as Geberit India Manufacturing Private Limited.

 

Axis Capital Limited, Edelweiss Financial Services Limited, and IIFL Securities Limited are the BRLMs.

Fino Payments Bank Limited’s proposed initial

 Fino Payments Bank Limited’s proposed initial public offering

·         Price Band of ₹ 560 – ₹ 577 per equity share bearing face value of ₹ 10 each (“Equity Shares”).

·         Bid/Offer Opening Date – Friday, October, 29 2021 and Bid/Offer Closing Date – Tuesday, November 02, 2021.

·         Minimum Bid Lot is 25 Equity Shares and in multiples of 25 Equity Shares thereafter.

·         The Floor Price is 56 times the face value of the Equity Shares and the Cap Price is 57.7 times the face value of the Equity Shares.

 

Fino Payments Bank Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to open its initial public offering of Equity Shares (the “Offer”) on Friday, October 29, 2021 and close on Tuesday, November 02, 2021. The price band for the Offer has been determined at ₹ 560 – ₹ 577 per Equity Share. 

The Offer comprises of a fresh issuance of Equity Shares aggregating up to ₹ 3,000 million (“Fresh Issue”) and an offer for sale of up to 15,602,999 Equity Shares by Fino Paytech (the “Promoter Selling Shareholders”).

 The Company intends to utilize the net proceeds from the fresh issue towards augmenting the bank's tier-1 capital base to meet its future capital requirements.

Fino payments bank is a wholly owned subsidiary of Fino Paytech Limited (FPL), primarily engaged in providing technology-based solutions and services related to financial inclusion. FPL is backed by marquee investors like Blackstone, ICICI Group, Intel Capital Corporation, Bharat Petroleum, HAV3 Holdings (Mauritius) Limited and World Bank Arm International Finance Corporation (IFC), amongst others.

Axis Capital Limited, CLSA India Private Limited, ICICI Securities Limited, and Nomura Financial Advisory and Securities (India) Private Limited are the book running lead manager to the Offer (“BRLM”)

The Company and the Selling Shareholder have, in consultation with the book running lead manager to the Offer, considered participation by Anchor Investors in accordance with the SEBI ICDR Regulations, whose participation shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Thursday, October 28, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders.

Disclaimers: FINO PAYMENTS BANK LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public issue of its equity shares bearing face value of ₹ 10 each (“Equity Shares”) and has filed the RHP with the RoC and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the BRLMs, i.e. Axis Capital Limited at www.axiscapital.co.in, CLSA India Private Limited at www.india.clsa.com, ICICI Securities Limited at www.icicisecurities.com and Nomura Financial Advisory and Securities (India) Private Limited at www.nomuraholdings.com/company/group/asia/india/index.html. Investors should note that investment in equity shares involves a high degree of risk. Potential investors should not rely on the Draft Red Herring Prospectus filed dated 30^th July, 2021 with SEBI for making any investment decision. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”), or any state law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) under Section 4(a) of the U.S. Securities Act, and (ii) outside the United States in “offshore transactions” in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering of Equity Shares in the United States.

 

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document.

 

DISCLAIMER CLAUSE OF BSE (Designated Stock Exchange): Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP..

 

DISCLAIMER CLAUSE OF NSE: NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document.

 

DISCLAIMER CLAUSE OF RBI: Our Bank has obtained a license authorizing us to carry on payments bank business from the Reserve Bank of India in terms of section 22 of the Banking Regulation Act, 1949. It must be distinctly understood, however, that in issuing the license, the Reserve Bank of India does not undertake any responsibility for the financial soundness of the Bank of for the correctness of any of the statements made or opinion expressed in this connection.

 

For further details in relation to the Company and Compliance Officer of the Company, please refer to statutory advertisement dated October 25, 2021.

AMI ORGANICS LIMITED INTIAL PUBLIC OFFERING TO OPEN ON

                        AMI ORGANICS LIMITED INTIAL PUBLIC                                         OFFERING TO OPEN ON SEPTEMBER 01, 2021

 

·      Price Band of Rs. 603 to Rs. 610 per equity share of face value of Rs. 10 each (“Equity Shares”)

·      Bid /Offer Opening Date – Wednesday, September 01, 2021 and Bid/ Offer Closing Date – Friday, September 03, 2021

·      Minimum Bid Lot is 24 Equity Shares and in multiples of 24 Equity Shares thereafter

·      The Floor Price is 60.3 times the face value of the Equity Shares and the Cap Price is 61 the face value of the Equity Shares.

Ami Organics

Limited (“Company”), a research & development driven manufacturer of specialty chemicals with varied end usage and is one of the major manufacturers of pharma intermediaries for certain key APIs, proposes to open its Initial Public Offering on Wednesday, September 01, 2021.

The Price Band of the offer has been fixed at Rs. 603 to Rs. 610 per Equity Share. Bids can be made for a minimum of 24 Equity Shares and in multiple of 24 Equity Shares thereafter. The Offer will close on Friday, September 03, 2021. 

 

The Initial Public Offering comprises of fresh issue of equity shares of face value ₹ 10 each (“Equity Shares”). The Offer comprises of fresh issue of such number of Equity Shares aggregating up to Rs. 200 crores (“Fresh Issue”) and an offer of sales of up to 6,059,600 Equity Shares, constituting up to 700,000 Equity Shares by Parul Chetankumar Vaghasia (“Promoter Selling Shareholder”), Up to 1,500,000 Equity Shares by Girishkumar Limbabhai Chovatia, Up to 3,050,000 equity shares by Kiranben Girishbhai Chovatia, Up to 174,600 Equity Shares by Aruna Jayantkumar Pandya (jointly held with Jayant Manubhai Pandya), Up to 87,300 Equity Shares by Hina Indreshbhai Shah, up to 87, 280 Equity Shares by Harshad Ramlal Sheth, up to 76,200 Equity Shares by Dhirajlal Amrutlal Amlani, up to 75,000 Equity Shares by Vrushti Atulkumar Shah, Up to 63,000 Equity Shares by Jolitbhai Jasvantlal Shah (jointly held with Amitaben Jolitbhai Shah), Up to 55,920 Equity Shares by Nishit Atulkumar shah, Up to 49,000 Equity Shares  by Surabhi Yash Shah, Up to 32,000 Equity Shares by Narmada Amrutlal Amlani, Up to 26,500 Equity Shares by Shanti Devi Kankaria, Up to 19,000 Equity Shares by Divya Mahendrakumar Kankaria, Up to 15,000 Equity Shares by Chovatiya Haresh H, Up to 14,910 Equity Shares by Amitaben Jolitbhai Shah(jointly held with Jolitbhai Jasvantlal Shah), Up to 14,500 Equity Shares by Saryu Dhirajlal Amlani, Up to 10,000 Equity Shares by Koladia Mehul M, Up to 8700 Equity Shares by Jyotiben Rakeshbhai Lahoti (jointly held with Rakesh Baluram Lahoti) and Up to 690 Equity Shares by Shah Disha Jolit (jointly held with Jolitbhai Jasvantlal Shah) (“Collectively, ”Selling Shareholders” and such Equity Shares “Offered Shares”) (“Offer For Sale” and together with the Fresh Issue, the “Offer”).

Further, the Company in consultation with the BRLMs (defined below), has undertaken a Pre-IPO placement of Equity Shares aggregating to Rs. 100 crores (The “Pre-IPO Placement”). The size of the Fresh Issue has been reduced by Rs. 100 crores pursuant to the Pre-IPO placement. Accordingly, the Fresh Issue size is up to Rs. 200 crores.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such allocation, the “QIB Portion”), provided that our Company and the Selling Shareholders may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders (“NIB”) and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily participate in the Offer only through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Accounts (including UPI ID in case of RIBs, if applicable) which will be blocked by the SCSBs, or the Sponsor Bank, as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.

The net proceeds of Fresh Issue i.e. Gross proceeds of the Fresh Issue less the Offer expenses apportioned to the company (“Net Proceeds”) and the proceeds from Pre-IPO placement are proposed to be utilised towards (i) Repayment / prepayment of certain financial facilities availed by the company amounting to Rs. 140 crores; (ii) Funding working capital requirements of the company amounting to Rs. 90 crores and (iii) General corporate purpose

In addition, the company expects to achieve the benefits of listing the Equity Shares on the Stock Exchanges, to enhance its visibility and brand image among existing and potential customers and creation of a public market for its Equity Shares in India.

The proceeds of the Offer for Sale shall be received by the Selling Shareholders. The Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to the proceeds from the Offer for Sale, net of their respective portion of the Offer related expenses and relevant taxes thereon

Company will not receive any proceeds from the Offer for Sale and all such proceeds (net of any Offer related expenses to be borne by the Selling Shareholders) will go to the Selling Shareholders.

Company expects that listing of the Equity Shares will enhance its visibility and brand image and provide liquidity to Shareholders and will also provide a public market for the Equity Shares in India.

Intensive Fiscal Services Private Limited, Ambit Private Limited and Axis Capital Limited are the Book Running Lead Managers (“BRLMs”) to the issue.

 The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on BSE and NSE

All capitalised terms used, but not defined herein, shall have the meanings ascribed to such terms in the RHP.

Profitable Multi-Channel Auto Platform CarTrade Tech Limited’s

Profitable Multi-Channel Auto Platform CarTrade Tech Limited’s
IPO to open on August 09, 2021

 

·       Price Band of Rs. 1,585 – Rs. 1,618 per equity share of face value of Rs. 10 each (“Equity Shares”)

·       Bid/Offer Opening Date – Monday, August 09, 2021 and Bid/Offer Closing Date – Wednesday, August 11, 2021

·       Minimum Bid Lot is 9 Equity Shares and in multiples of 9 Equity Shares thereafter

·        The Floor Price is 158.5 times the face value of the Equity Share and the Cap Price is 161.8 times the Face Value of the Equity Share

·       Led by Mr Vinay Vinod Sanghi who is the Chairman, Managing Director and CEO of the company

 

 

Risks to Investors: • The four BRLMs associated with the Offer have handled 36 public issues in the past three years, out of which 9 issues closed below the issue price on listing date. • The Price/Earnings ratio based on diluted EPS for Fiscal 2021 for the Company at the upper end of the Price band is 84.31.• Weighted Average Return on Net Worth for Fiscals 2021, 2020 and 2019 is 3.52%.• Average Cost of acquisition of Equity Shares for the Selling Shareholders, namely CMDB, Highdell, MacRitchie, Springfield, Bina Vinod Sanghi (Jointly held with Vinay Vinod Sanghi), Daniel Edward Neary, Shree Krishna Trust, Victor Anthony Perry III and Vinay Vinod Sanghi (jointly held with Seena Vinay Sanghi)  is ₹ 270.42, ₹ 454.82, ₹ 604.82, ₹567.59, ₹10.00, ₹14.29, ₹ 10.00, ₹ 301.71 and ₹ 61.54, respectively and the Offer Price at the upper end of the Price Band is ₹ 1,618 per Equity Share.

 

CarTrade Tech, a multi-channel auto platform via its several integrated brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and Auto Biz, is proposing to open its initial public offering of Equity Shares (the “Offer”) on Monday, August 09, 2021 and close on Wednesday, August 11, 2021. The price band for the Offer has been determined at Rs. 1,585 – Rs. 1,618 per Equity Share.

The Offer will be an offer for sale of up to 18,532,216 Equity Shares (“Offer for Sale”) by the Selling Shareholders, namely, CMDB II, Highdell Investment Ltd, Macritchie Investments Pte. Ltd, Springfield Venture International, Bina Vinod Sanghi (Jointly Held with Vinay Vinod Sanghi), Daniel Edward Neary, Shree Krishna Trust, Victor Anthony Perry III, Vinay Vinod Sanghi (Jointly Held with Seena Vinay Sanghi). The Company will not receive any proceeds from the Offer.

 

The Company, the Major Shareholders and the Investor Selling Shareholders have, in consultation with the book running lead managers to the Offer (the “BRLMs”), considered participation by Anchor Investors, whose participation shall be one Working Day prior to the bid/offer opening Date, i.e. Friday, August 06, 2021.

 

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not More than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders.

 

CarTrade Tech is a multi-channel auto platform with coverage and presence across vehicle types and value-added services. The company’s platforms operate under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. Through these platforms, CarTrade Tech enables new and used automobile customers, vehicle dealerships, vehicle OEMs and other businesses to buy and sell their vehicles in a simple and efficient manner.

 

The company’s consumer platforms i.e. CarWale, CarTrade and BikeWale, collectively get 3.2 crore average unique visitors every month (during the 3 months period ending March 31 2021) and Shriram Automall and other auction platforms had 8,14,316 vehicles listed for auction during FY 2021.

 

CarTrade Tech was the only profitable digital auto platform for the financial year 2020 (Source: RedSeer Report). CarTrade Tech is profitable since FY 19.

 

The company generates revenues from commission and fees from auctions and remarketing services, online advertising solutions, lead generation, technology based services to OEMs/Dealers/Banks and other financial institutions and inspection and valuation services.

 

The company is led by Mr Vinay Vinod Sanghi who is the Chairman, Managing Director and CEO. Key management personnel include Aneesha Menon - Executive Director and Chief Financial Officer, Banwari Lal Sharma - Chief Executive Officer – Consumer Business, Sameer Malhotra - Chief Executive Officer of Shriram Automall, Akshay Shankar - Chief Product Officer – Group and Vikram Alva - Chief Strategy Officer – Group. It is backed by marquee institutional shareholders that include affiliates of Warburg Pincus, Temasek, JP Morgan and March Capital.

 

Axis Capital Limited, Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited and Nomura Financial Advisory and Securities (India) Private Limited are the BRLMs to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated July 28, 2021 (“RHP”) filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”).

 

 

Disclaimers: CARTRADE TECH LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public issue of its equity shares bearing face value of Rs10 each (“Equity Shares”) and has filed the RHP with the RoC and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the BRLMs, i.e. Axis Capital Limited at www.axiscapital.co.in, Citigroup Global Markets India Private Limited at www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, Kotak Mahindra Capital Company Limited at www.investmentbank.kotak.com and Nomura Financial Advisory and Securities (India) Private Limited at www.nomuraholdings.com/company/group/asia /india/index.html. Potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see the section titled "Risk Factors" on page 22 of the RHP.

 

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”) or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) in the United States, to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a) of the U.S. Securities Act.

 

 

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 284 of the RHP for the full text of the disclaimer clause of SEBI.

 

DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 286 of the RHP for the full text of the disclaimer clause of the BSE.

 

DISCLAIMER CLAUSE OF NSE (Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 287 of the RHP for the full text of the disclaimer clause of NSE

 

Star Health and Allied Insurance Company Limited files

 Star Health and Allied Insurance Company Limited 

files DRHP with SEBI for its IPO

 DRHP Link: https://www.investmentbank.kotak.com/downloads/star-health-and-allied-insurance-company-limited-DRHP.pdf

Star Health and Allied Insurance Company Limited (‘SHAICL’ or the ‘Company’), the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in Fiscal 2021, according to CRISIL Research, filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI for its Initial Public Offering (IPO).

The Initial Public Offering comprises of equity shares of face value of ₹10 each (“Equity Shares”) of Star Health and Allied Insurance Company Limited comprising a fresh issue aggregating up to ₹20,000 million (the “Fresh Issue”) and an offer for sale of up to 60,104,677 equity shares, including up to 30,683,553 equity shares by Safecrop Investments India LLP (“Promoter Selling Shareholder”), up to 137,816 equity shares by Konark Trust, up to 9,518 equity shares by MMPL Trust (“Promoter Group Selling Shareholders”) up to 7,680,371 equity shares by Apis Growth 6 Limited, up to 4,110,652 equity shares by Mio IV Star, up to 7,438,564 equity shares by University of Notre Dame Du Lac, up to 4,110,652 equity shares by Mio Star, up to 2,509,099 equity shares by ROC Capital Pty Limited, up to 1,476,140 equity shares by Venkatasamy Jagannathan, up to 1,804,312 equity shares by Sai Satish and up to 144,000 equity shares by Berjis Minoo Desai (collectively, the “Other Selling Shareholders”). The offer includes a reservation for subscription by eligible employees (“Employee Reservation Portion”).

The Net Proceeds from the Fresh Issue are proposed to be utilized augmentation of the Company’s capital base.

 Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited and ICICI Securities Limited are the Global Co-Coordinators and Book Running Lead Managers to the Issue.

CLSA India Private Limited, Credit Suisse Securities (India) Private Limited and Jefferies India Private Limited are the Book Running Lead Managers to the Issue.

Ambit Private Limited, DAM Capital Advisors Limited (Formerly IDFC Securities Limited) and IIFL Securities Limited are the Co-book Running Lead Managers to the issue.

G R Infraprojects Limited’s IPO to open

G R Infraprojects Limited’s IPO to open
on Wednesday, July 07, 2021

 

·       Price Band of Rs. 828 – Rs. 837 per equity share of face value of Rs. 5 each (“Equity Shares”)

·       Bid/Offer Opening Date – Wednesday, July 07, 2021 and Bid/Offer Closing Date – Friday, July 09, 2021

·       Minimum Bid Lot is 17 Equity Shares and in multiples of 17 Equity Shares thereafter

·        The Floor Price is 165.60 times the face value of the Equity Share and the Cap Price is 167.40 times the Face Value of the Equity Share

 

Risks to Investors: • The six Book Running Lead Managers associated with the Offer have handled 30 public offers in the current financial year and the past two financial years preceding the current financial year out of which 9 offers closed below the offer price on listing date. • The Price/Earnings ratio based on diluted EPS for Fiscal 2021 for the Company at the upper end of the Price band is 8.51 as compared to the average industry peer group PE ratio of 16.73. • Weighted Average Return on Net Worth for Fiscals 2021, 2020 and 2019 is 26.15%. • Average Cost of acquisition of Equity Shares for the Selling Shareholders namely Lokesh Builders Private Limited, Jasamrit Premises Private Limited, Jasamrit Fashions Private Limited, Jasamrit Creations Private Limited, Jasamrit Construction Private Limited, India Business Excellence Fund, India Business Excellence Fund I and Pradeep Kumar Agarwal is ₹ 22.12, ₹ 2.50, ₹ 2.50, ₹ 2.50, ₹ 2.50, ₹ 50.78, ₹ 50.78 and ₹ 130.80, respectively and the Offer Price at the upper end of the Price Band is ₹ 837.00 per Equity Share.

G R Infraprojects Limited (“GRIL” or “Company”), an integrated road engineering, procurement and construction (“EPC”) company with experience in design and construction of various road/highway projects across 15 States in India and having recently diversified into projects in the railway sector, is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, July 07, 2021 and close on Friday, July 09, 2021. The price band for the Offer has been determined at Rs. 828 – Rs. 837 per Equity Share. The Company and the Investor Selling Shareholders have, in consultation with the book running lead managers to the Offer (the “BRLMs”), considered participation by Anchor Investors, whose participation shall be one Working Day prior to the bid/offer opening Date, i.e. Tuesday, July 06, 2021.

The Offer will be a complete offer for sale of up to 1,15,08,704 Equity Shares (“Offer for Sale”). The Offer includes an employee reservation portion as well.

 The Offer for Sale comprises of up to 11,42,400 Equity Shares by Lokesh Builders Private Limited, up to 127,000 Equity Shares by Jasamrit Premises Private Limited, up to 80,000 Equity Shares by Jasamrit Fashions Private Limited, up to 56,000 Equity Shares by Jasamrit Creations Private Limited, up to 44,000 Equity Shares by Jasamrit Construction Private Limited, up to 64,14,029 Equity Shares by India Business Excellence Fund 1 and up to 31,59,149 Equity Shares by India Business Excellence Fund, and up to 486,126 Equity Shares by Pradeep Kumar Agarwal.

 

The Offer being only an Offer for Sale, Company will not receive any proceeds from the Offer.

 

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders.

 

The Company’s principal business of civil construction comprises EPC and BOT projects in the road sector. The Company has, since 2006, executed over 100 road construction projects. As per the red herring prospectus of the Company dated June 26, 2021 (the “RHP”), out of its BOT projects, it has one operational road project which has been constructed and developed on a BOT (annuity) basis and 14 road projects which have been awarded to the company under the HAM, out of which five projects are currently operational, four projects are under construction and construction is yet to commence on five of these projects. The Company also has experience in constructing state and national highways, bridges, culverts, flyovers, airport runways, tunnels and rail over-bridges and has recently diversified into projects in the railway sector.

HDFC Bank Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited, Equirus Capital Private Limited are the BRLMs to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP filed with the Registrar of Companies, Gujarat, Dadra & Nagar Haveli, at Ahmedabad (“RoC”).