Indian technology Brand Bolt plans to launch a public offering next year. Company co-founder Varun Gupta has said that the IPO will be launched after achieving revenue of Rs 1,000 crore in the financial year 2024-25. He informed that the company is expanding into international markets and new categories. Speaking exclusively to PTI, Gupta said that we are not focusing on IPO this year, but will probably consider next year. Our first focus is to enter markets, international geographies and new categories.
Target to achieve revenue of Rs 1,000 crore
He said that the company has set an internal target for itself before launching the IPO. “We want to go for IPO only when we achieve revenue of Rs 1,000 crore,” he said. Technically, we can launch the IPO today because we are profitable. But we have set a revenue target of Rs 1,000 crore and only after that we will consider ourselves eligible for an IPO.” He said that the company is increasing its presence in offline retail stores.
Sai Swami Metals IPO will open on April 30
Stainless steel products manufacturing company Sai Swami Metals and Alloys Limited will enter the capital market on April 30 to raise about Rs 15 crore from investors. The company said in a statement on Saturday that its IPO (initial public offering) will open on Tuesday and close on May 3. The shares will be listed on the SME platform of BSE. The Ahmedabad-based company, which manufactures stainless steel products under the Dolphin brand, has fixed the bid price under the IPO at Rs 60 per equity share. The IPO involves a fresh issue of 25 lakh equity shares.
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