Brigade Hotel Ventures IPO allotment: Step-by-step guide to check status
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Mint
44 minutes ago
- Mint
Sri Lotus Developers IPO sees strong demand on Day 1, subscribed 4 times on robust retail, QIB interest
The initial public offering (IPO) of Sri Lotus Developers has seen robust demand from both retail and qualified institutional buyers on its first day of bidding. The IPO, which opened today and is set to close on Friday, August 01, was oversubscribed. The issue received bids for 14.27 crore shares against the total offer of 3.70 crore shares, resulting in an overall subscription of 3.86 times by the end of Day 1, according to exchange data. Qualified institutional buyers showed strong interest, with their portion subscribed to 5.68 times, while retail investors also showed greater enthusiasm, with their portion booked 3.05 times. The NII portion was booked at 3.32 times. Sri Lotus Developers aims to raise ₹ 792 crore through the IPO, which is entirely a fresh issue of 5.28 crore shares. The price band for the offer is set between ₹ 140 and ₹ 150 per equity share, with a face value of ₹ 1 each. The IPO lot size is fixed at 100 shares, requiring a minimum investment of ₹ 15,000 for retail investors. The allotment for the IPO is expected to be finalized on Monday, August 04, 2024. The shares are scheduled to list on both the NSE and BSE, with a tentative listing date of Wednesday, August 06. Motilal Oswal Investment Advisors Limited is the book-running lead manager of the Sri Lotus Developers IPO, while Kfin Technologies Limited is the registrar for the issue. The company features an impressive list of pre-IPO investors, including cinema icons Shah Rukh Khan and Amitabh Bachchan and notable investor Ashish Kacholia. The issue comprises a fresh issue only, aiming to raise ₹ 792 crore. As of today, the grey market premium (GMP) for Sri Lotus Developers IPO stands at ₹ 46 per share. This suggests that the shares are anticipated to list at ₹ 150 above their issue price. With this GMP and the IPO's upper price band, the estimated listing price of the shares would be ₹ 196, reflecting a 30.66% premium over the issue price. The grey market premium represents the expected difference between an IPO's issue price and its anticipated listing price in the unofficial market. However, it's important to remember that GMP is a preliminary indicator and should not be the sole factor in making investment decisions. The company is a developer of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra-luxury segment and luxury segment in the western suburbs. Since its establishment, it has aimed at building a brand centered around customer satisfaction by creating environments that enhance our customers' lifestyles. The company operations are strategically located in Mumbai, one of the biggest real estate markets in India. The company acquired land for its operations in the western suburbs of Mumbai in 2017, focusing on the ultra-luxury and luxury residential properties market. On the financial front, the company reported a revenue of ₹ 549.68 crore, up from ₹ 461.58 crore in the previous year. Net profit surged to ₹ 227.89 crore, compared to ₹ 119.81 crore a year earlier. As of FY25, total debt stood at ₹ 122.13 crore. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
2 hours ago
- Mint
Hyundai Motor logs 4th straight profit drop, loses No. 2 sales spot to Mahindra
Hyundai Motor India Ltd (HMIL) recorded a fourth straight year-on-year decline in quarterly profit for the April-June period, hurt by high discounts and losing its second position in domestic sales to closest rival Mahindra and Mahindra Ltd. The Indian subsidiary of Korean giant Hyundai recorded a net profit of ₹ 1,369 crore in the first quarter of the financial year ending March 2026, a drop of 8% compared to the year-ago period, it said in an exchange filing on Wednesday. The company attributed the profit decline to shrinking margins as earnings before interest, tax, depreciation and amortization margin (Ebitda) fell 20 basis points to 13.3%. This margin contraction was on account of elevated discounts of around 3% during the first quarter to stir up demand for cars. Since listing in October 2024, the Gurugram-based Hyundai India has not had a single quarter where its profit has grown. In the previous four quarters, it has seen profits fall in the range of 8% to 19%. Revenue during the quarter fell 5% to ₹ 16,628 crore, with the company's domestic car sales sliding 11% to 132,259 units, trailing Mahindra's 22% increase to 152,067 units. India's largest passenger vehicle manufacturer Maruti Suzuki India Ltd sold 430,889 cars in the country in April-June, 5% less than a year ago. Passenger vehicle sales in the first three months of FY26 fell 1% to 1.01 million units, according to data from Society of Indian Automobile Manufacturers. Shares of Hyundai Motor closed about 0.8% lower at ₹ 2,084.95 apiece on the BSE on Wednesday. In a post-results interaction with the media, the management acknowledged that the demand environment in the country has been tough, hurting its sales. 'Things were quite tough,' chief operating officer Tarun Garg told reporters, before pointing to the tailwinds on the horizon such as interest rates cuts that could stimulate demand and the festive season kicking off soon. Unsoo Kim, managing director at Hyundai Motor India, expects a gradual recovery in demand for cars. 'Moving forward, we anticipate gradual recovery in domestic demand sentiments, driven by onset of monsoon and festive season coupled with government policy measures, while on the exports front, we are confident to maintain a positive momentum, in line with our growth commitments,' Kim said. The management aims to target rural markets, which are likely to revive after plentiful monsoon rains, and salary earners who will benefit from interest rate cuts. Garg noted that in the months ahead, the discounts will not see any significant rise as the company targets sustainable growth. Analysts said that near-term challenges are expected to persist for Hyundai Motor India, but there are reasons to be optimistic. 'Hyundai's margins, while lower YoY, outperform expectations, driven by an improved volume mix and cost optimization initiatives,' Mrunmayee Jogalekar, auto research analyst at Asit C Mehta Investment Intermediates Ltd, said. While the company struggled in the domestic market, its international sales were reasonably good. Hyundai sold 48,140 cars in the global markets, registering a 13% year-on-year rise in the April-June period, and preventing a larger hit to its margins. The company is banking on its plans to launch 26 new models as well as facelifts till 2030 to get into a fast-growth lane. To a question on loss of market share, Garg pointed out that registration data on the government's Vahan portal indicates that the company is gradually getting its ground back. 'In April our market share was 12.6%, in May it was 12.7% and in June it was 12.9%. With two days remaining in July, we are set to cross 13% in the month,' he said. In a report dated 10 July, analysts at Nuvama Institutional Equities noted that new launches by Hyundai ahead will help it make a gradual comeback in terms of market share. 'HMI is gunning for 26 launches by FY30E, including seven–eight new models. Over the next 18 months, we expect a new compact SUV, a micro E-SUV and multiple refreshes, ratcheting up HMI's domestic market share by ~1pp (percentage point) to 15% by FY28E,' Raghunandhan NL, Manav Shah and Rahul Kumar of Nuvama wrote.
Business Standard
2 hours ago
- Business Standard
Aayush Wellness Announces 2nd Interim Dividend
PNN New Delhi [India], July 30: Aayush Wellness, an Integrated Healthcare Company, is pleased to declare an interim dividend of Rs. 0.025 per share, reaffirming its commitment to rewarding investor trust and confidence. The Board of Directors has approved a dividend of Rs. 0.025 per share amounting to 2.5% of the face value of shares. This dividend decision underscores Aayush Wellness's focus on creating long-term value while maintaining financial discipline. "This dividend reflects our belief in sustainable growth and our gratitude to shareholders who have been an integral part of our journey. As we continue expanding in the Health and Wellness sector, we remain committed to delivering both innovation and returns." said Naveena Kumar, Managing Director of Aayush Wellness. The record date for determining shareholders eligibility for the dividend is 5th August 2025, and the dividend will be disbursed within 30 days from the announcement date, as per regulatory guidelines. Aayush Wellness Limited continues to demonstrate its commitment to making preventive healthcare both accessible and affordable--an approach that aligns with long-term value creation. With strategic expansions into teleconsultation, health checkups, and other healthcare services, alongside a growing portfolio of wellness products targeting lifestyle related health issues, the company is well-positioned to capture rising consumer demand in the health and wellness sector. This holistic approach not only strengthens its market presence but also enhances returns for its stakeholders. About Aayush Wellness Limited: (ISO 9000 and 22000 certified company) Aayush Wellness Limited [BSE scrip code: 539528], established in 1984 is a pioneering name in health and wellness solutions, dedicated to offering products that merge wellbeing with innovation. We are India's integrated healthcare company committed to offer quality products and services to enhance the consumer well-being. Aayush Wellness continues to lead the industry in promoting healthier lifestyle choices through its diverse range of wellness products and services. For more information, please visit or Call: 8655611700 for business inquiries.
