IPO market
EMA Partners India plans to raise Rs 76 crore through its initial public offering (IPO) opening on January 17. The company said in a statement on Saturday that the price band for this IPO has been fixed at Rs 117-124 per share. This IPO will close on January 21. The company will raise approximately Rs 76.01 crore from the issue at the upper end of the price band. Before the IPO opens, anchors i.e. big investors will be able to bid on January 16. The shares of the company are proposed to be listed on the Small and Medium Enterprises (SME) platform of NSE Emerge.
Fresh issue of 53.34 lakh shares
In this IPO, investors can bid for a minimum of 1,000 shares and its multiples. According to the draft documents (RHP), the IPO includes a fresh issue of 53.34 lakh equity shares besides an offer for sale (OFS) of 7.96 lakh shares by the promoters – Krishnan Sudarshan and Subramaniam Krishnaprakash. Public shareholder Shekhar Ganapathy will also sell his stake in the company. The promoter and promoter group of EMA Partners hold 86.14 per cent stake. While public shareholders hold 13.86 percent stake.
Lakshmi Dental raised Rs 314 crore
On the other hand, Orbimed-backed Lakshmi Dental has raised a little more than Rs 314 crore from anchor i.e. big investors before the opening of its IPO. According to the circular uploaded on the BSE website on Friday, the anchor phase saw participation from domestic mutual funds, insurance companies and foreign entities. Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, HDFC MF, Kotak MF, Mirae Asset MF, Tata MF, Birla SunLife Insurance, Max Life Insurance, Abu Dhabi Investment Authority, Nomura, Goldman Sachs, Al Mehwar Commercial Investments and Natixis Investment Managers and others were allotted shares in this phase. Have gone. According to the circular, Mumbai-based Lakshmi Dental has allotted 73.39 lakh shares at Rs 428 per equity share to 31 entities, taking the total size of the transaction to Rs 314.12 crore.
IPO will open on January 13
The price band in Lakshmi Dental’s IPO has been fixed at Rs 407-428 per share. The issue will open for subscription on January 13 and close on January 15. According to the draft document, the IPO comprises an offer for sale (OFS) of 1.31 crore equity shares worth Rs 560 crore by promoters Rajesh Vrajlal Khakhar and Sameer Kamlesh Merchant and other shareholders, besides fresh shares worth Rs 138 crore. The company’s shares are seen trading at a premium of 37.38 percent in the gray market.
Latest Business News
