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Economic Times
26 minutes ago
- Economic Times
Ashish Kacholia-backed Shree Refrigerations IPO opens with 64% GMP. Check all details
Shree Refrigerations, a key HVAC and refrigeration systems supplier, is launching its Rs 117.32 crore IPO on Friday, drawing significant investor interest. Synopsis Shree Refrigerations is launching its IPO on Friday. The IPO size is Rs 117.32 crore. Ashish Kacholia and other marquee investors are backing the company. The IPO includes a fresh issue and an offer for sale. The company will use the funds for working capital. Shree Refrigerations specializes in HVAC and refrigeration systems. Shree Refrigerations, a key supplier of mission-critical HVAC and refrigeration systems to the Indian defence and industrial sectors, will open its Rs 117.32 crore IPO on Friday. The IPO, which has generated strong investor buzz with a grey market premium (GMP) of around 64%, is being closely tracked due to the presence of marquee investor Ashish Kacholia. ADVERTISEMENT According to latest shareholding data, Kacholia owns a 4.34% stake in the company. Other notable shareholders include Meru Investment Fund PCC Cell 1 (2.17%) and Maharashtra Defence and Aerospace Venture Fund (17.09%). Promoters currently hold 56.61% of the company. The IPO comprises a fresh issue of 75.61 lakh equity shares and an offer for sale (OFS) of 18.25 lakh shares, taking the total issue size to 93.86 lakh shares. The price band has been fixed at Rs 119 to Rs 125 per share, and investors can bid in lots of 1,000 shares. The allocation includes 26.73 lakh shares for anchor investors, 17.82 lakh for qualified institutional buyers (QIBs), at least 13.39 lakh for non-institutional investors (NIIs), and 31.22 lakh for retail investors. Narnolia Financial Services is the book-running lead manager and MUFG Intime India is the in 2006, Shree Refrigerations is known for building custom HVAC and refrigeration systems for sectors like defence, pharma, food processing, and chemicals. Its state-of-the-art facility in Karad, Maharashtra, is focused on precision manufacturing and in-house design. ADVERTISEMENT In FY25, the company reported revenue of Rs 98.73 crore, EBITDA of Rs 26.94 crore, and a profit after tax (PAT) of Rs 13.55 crore — reflecting strong margins and operational scalability. Management said the IPO proceeds will be used for working capital and general corporate by over four decades of legacy in India's industrial landscape and a marquee shareholder base, Shree Refrigerations' IPO is drawing attention from retail and institutional investors alike. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
India.com
26 minutes ago
- India.com
Who is Leena Tewari? Meet woman who bought India's most expensive flats in Mumbai for Rs…, her business is….
The cost of flats in various Indian cities is soaring, with Gurugram and Mumbai at the center of the discourse. In Gurugram, penthouses, flats, and apartments are being sold for Rs 125–150 crore and even higher in some cases. But did you know that the most expensive flat in India is in Mumbai? You guessed it! The record-breaking sale for India's most expensive flat occurred this year at the end of May. And, of course, it was in Worli, Mumbai. But do you know who the owner of this ultra-luxury flat is and what price was paid? Who is the billionaire owner who bought India's costliest flats? India's costliest flat was acquired in May by Leena Tewari. Leena purchased two luxury duplexes near the sea in Worli, Mumbai, for Rs 639 crore. She also paid Rs 63.9 crore as stamp duty and GST, bringing the total cost to roughly Rs 703 crore. The duplex apartments cover 22,572 sq ft from the 32nd to the 35th floor of the 40-storey Naman Xana building at Worli Sea Face, which has views of the Arabian Sea. According to the media reports, the cost works out to over Rs 2.83 lakh per sq. ft. on carpet area. How much did Leena pay for these premium properties? Leena Tewari paid more than Rs 63.9 crore in stamp duty and Goods & Services Tax (GST) to register the properties. She is the granddaughter of Vithal Balkrishna Gandhi, who founded USV Private Limited. In 1961, her grandfather established the company in collaboration with Revlon, and it has held its position as a leading pharmaceutical and biotechnology company in India. What record did this purchase set in the Indian real estate market? According to Forbes, Leena Tewari's real-time net worth is $3.9 billion. Presently, she is the 964th richest person in the world. In 2023, Forbes India ranked her as the 45th richest Indian woman. She is wealthier than Biocon's Kiran Mazumdar-Shaw and Nykaa's Falguni Nayar. Her net worth was estimated to be $3.7 billion in 2023. Leena is the Chairperson of Mumbai-based pharmaceutical company, USV India. USV went international with the purchase of the German generics company Juta Pharma in 2018. Leena's daughter Aneesha Gandhi Tewari, who has a Ph.D. in molecular biology from MIT, joined the USV board in 2022. Leena was born in suburban Mumbai on March 9, 1957. After studying commerce at the University of Mumbai, she completed an MBA at Boston University. Leena eventually returned to India, where she continued to run the family business. According to Forbes, USV specializes in diabetic and cardiovascular drugs, with a diverse portfolio that includes biosimilar drugs, injectables, and active pharmaceutical ingredients (APIs). According to the official website of USV, its mission is to continue to be recognised as a reliable provider of healthcare products and services by customers the world over. It aims to create and sustain a work environment that values people, promotes learning, nurtures innovation and leads to collective excellence.
Time of India
39 minutes ago
- Time of India
Ashish Kacholia-backed Shree Refrigerations IPO opens with 64% GMP. Check all details
IPO details Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shree Refrigerations, a key supplier of mission-critical HVAC and refrigeration systems to the Indian defence and industrial sectors, will open its Rs 117.32 crore IPO on Friday. The IPO, which has generated strong investor buzz with a grey market premium (GMP) of around 64%, is being closely tracked due to the presence of marquee investor Ashish Kacholia According to latest shareholding data, Kacholia owns a 4.34% stake in the company. Other notable shareholders include Meru Investment Fund PCC Cell 1 (2.17%) and Maharashtra Defence and Aerospace Venture Fund (17.09%). Promoters currently hold 56.61% of the IPO comprises a fresh issue of 75.61 lakh equity shares and an offer for sale (OFS) of 18.25 lakh shares, taking the total issue size to 93.86 lakh shares. The price band has been fixed at Rs 119 to Rs 125 per share, and investors can bid in lots of 1,000 allocation includes 26.73 lakh shares for anchor investors, 17.82 lakh for qualified institutional buyers (QIBs), at least 13.39 lakh for non-institutional investors (NIIs), and 31.22 lakh for retail investors. Narnolia Financial Services is the book-running lead manager and MUFG Intime India is the in 2006, Shree Refrigerations is known for building custom HVAC and refrigeration systems for sectors like defence, pharma, food processing, and chemicals. Its state-of-the-art facility in Karad, Maharashtra, is focused on precision manufacturing and in-house FY25, the company reported revenue of Rs 98.73 crore, EBITDA of Rs 26.94 crore, and a profit after tax (PAT) of Rs 13.55 crore — reflecting strong margins and operational scalability. Management said the IPO proceeds will be used for working capital and general corporate by over four decades of legacy in India's industrial landscape and a marquee shareholder base, Shree Refrigerations' IPO is drawing attention from retail and institutional investors alike.
