Latest news with #ICDR
Business Upturn
08-07-2025
- Business
- Business Upturn
Vishal Fabrics board approves conversion of 8,067,176 warrants into equity shares at Rs 30.60 each
Vishal Fabrics Limited has announced the allotment of 80,67,176 equity shares to Elysian Wealth Fund upon conversion of warrants, increasing its paid-up share capital significantly. In a regulatory filing dated July 8, 2025, the company informed that the Fund Raising Committee of the Board of Directors approved the allotment of equity shares of ₹5 each, […] By Aditya Bhagchandani Published on July 8, 2025, 19:27 IST Vishal Fabrics Limited has announced the allotment of 80,67,176 equity shares to Elysian Wealth Fund upon conversion of warrants, increasing its paid-up share capital significantly. In a regulatory filing dated July 8, 2025, the company informed that the Fund Raising Committee of the Board of Directors approved the allotment of equity shares of ₹5 each, issued at a price of ₹30.60 per share, to the non-promoter, public category investor, Elysian Wealth Fund (formerly known as Silver Stallion Limited). Key details of the transaction: Total shares allotted: 80,67,176 equity shares Issue price per share: ₹30.60 Total consideration received: ₹18.51 crore Warrants originally issued: 3 crore (of which these 80.67 lakh have been converted so far) Remaining warrants outstanding: 3 crore minus converted shares Investor category: Non-Promoter, Public Post-conversion holding of Elysian Wealth Fund: 3.71% of Vishal Fabrics' equity The company noted that these shares have been allotted pursuant to earlier member approval and in line with SEBI (ICDR) Regulations, 2018. The paid-up capital of the company now stands at ₹108.8 crore, consisting of 21.76 crore equity shares of ₹5 each. The warrants were issued on a preferential basis, with 25% of the amount paid at the time of subscription and the remaining 75% paid upon conversion. The investor retains the right to convert the remaining outstanding warrants into equity shares within 18 months of allotment. The company confirmed that the newly allotted shares rank pari-passu with existing shares and the outstanding warrants will lapse if not exercised within the prescribed period. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
News18
21-06-2025
- Business
- News18
Sambhv Steel Tubes IPO To Open On June 25; Price Band Set At Rs 77-Rs 82, Issue Size At Rs 540 Crore
The GMP of the Sambhv Steel Tubes IPO currently stands at 9.76%, indicating mild listing gains. Sambhv Steel Tubes IPO: Sambhv Steel Tubes Ltd is set to launch its initial public offering (IPO) on Wednesday, June 25, 2025, with the public issue aiming to raise Rs 540 crore, according to the Red Herring Prospectus filed by the company. The IPO will remain be closed on Friday, June 27, while the anchor investor window will open on Tuesday, June 24. The IPO consists of a fresh issue of equity shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore by the company's promoter and promoter group shareholders. Sambhv Steel Tubes IPO: Price Band and Lot Size The price band has been fixed at Rs 77 to Rs 82 per equity share of face value Rs 10 each. Investors can bid for a minimum of 182 equity shares and in multiples thereof. A discount of Rs 4 per equity share is being offered to eligible employees bidding in the reserved employee portion. Sambhv Steel Tubes IPO GMP Today According to market observers, the GMP of the IPO currently stands at 9.76%, indicating mild listing gains. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Sambhv Steel Tubes IPO Proceeds As per the RHP, Sambhv Steel intends to use the net proceeds from the fresh issue primarily for pre-payment or scheduled repayment of certain outstanding borrowings, and the remaining amount will go towards general corporate purposes. Sambhv Steel Tubes IPO Listing and Lead Managers The equity shares will be listed on both the BSE and the National Stock Exchange (NSE) on July 2. Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers (BRLMs) to the issue. Category-Wise Allocation The IPO is being offered through the book-building process in line with SEBI's Issue of Capital and Disclosure Requirements (ICDR) Regulations: Not more than 50% of the net offer will be allocated to qualified institutional buyers (QIBs). Up to 60% of the QIB portion may be allocated to Anchor Investors, with one-third reserved for domestic mutual funds. A minimum of 15% is reserved for Non-Institutional Bidders (NIIs). At least 35% is reserved for retail investors. A portion of the shares is also reserved for eligible employees, who will benefit from the Rs 4 discount. Sambhv Steel Tubes is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024. According to a Crisil report, the demand for domestic steel pipes and tubes is expected to have grown at a compound annual growth rate (CAGR) of 5-6 per cent to 12.50-13.50 million tonnes per annum (MTPA) in FY25 from 8.8 MTPA in FY19. The growth was led by government initiatives to augment urban structural infrastructure and to infuse investments in the oil and gas sector. Going forward, domestic steel pipe demand is projected to increase to 18.50-20.50 MTPA in FY29 at 8-9 per cent CAGR between FY25 and FY29 on a high base, the report added. tags : initial public offering (IPO) IPO Location : New Delhi, India, India First Published: June 20, 2025, 17:04 IST News business » ipo Sambhv Steel Tubes IPO To Open On June 25; Price Band Set At Rs 77-Rs 82, Issue Size At Rs 540 Crore
Economic Times
18-06-2025
- Business
- Economic Times
Sebi relaxes Esop norms for IPO-bound startup founders
In a major relief to startup founders looking to go public, Sebi on Wednesday approved a proposal to allow them to retain employee stock options (ESOPs) granted at least one year prior to filing preliminary IPO papers. Under the existing regulations, promoters are ineligible to hold or be granted share-based benefits, including ESOPs. If they hold such share-based benefits at the time of filing of draft red herring prospectus (DRHP), they have been required to liquidate such benefits prior to the IPO. This provision has been found to be impacting founders classified as promoters at the time of filing of DRHP, Sebi chairman Tuhin Kanta Pandey said the board approved a proposal to "facilitate founders who received such benefits at least one year prior to the filing of DRHP with the board, to continue holding, and/or exercising such benefits even after being specified as the promoter/s and the company becoming a listed entity". These proposals are expected to assist public companies who intend to list after undertaking reverse flipping -- shifting the country of incorporation from a foreign jurisdiction to India. This was the second board meeting under the chairmanship of Pandey, who assumed office on March 1. Additionally, the Sebi board approved a to rationalise the content of the placement document of Qualified Institutions Placement (QIP) by prescribing only the relevant information regarding the in QIPs, the issuer is required to disclose the details in the placement document as prescribed under ICDR (Issue of Capital and Disclosure Requirements) disclosures are detailed in nature and preparing a lengthy placement document is a time-consuming exercise that results in duplication of information, which is already available in the public domain."The board approved amendments to ICDR Regulations for simplifying and streamlining the placement document for qualified institutional placement by listed entities," Sebi said, adding this builds on the simplification and streamlining undertaken for rights issues by listed proposal factors in the availability of information for listed entities in the public domain, and reduces or eliminates duplication of such information in the placement document. Making disclosures has also been enabled in a summarised and concise form. Such areas of disclosure being simplified include risk factors being specified in relation to the issue, the objects of the issue and the material risks (dispensing with generic risk factors being disclosed), providing a summary of financial position (dispensing provision of complete financial statements) and providing a summary of issuer's business and the industry in which it operates.
Time of India
18-06-2025
- Business
- Time of India
Sebi relaxes Esop norms for IPO-bound startup founders
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a major relief to startup founders looking to go public, Sebi on Wednesday approved a proposal to allow them to retain employee stock options (ESOPs) granted at least one year prior to filing preliminary IPO the existing regulations, promoters are ineligible to hold or be granted share-based benefits, including ESOPs. If they hold such share-based benefits at the time of filing of draft red herring prospectus (DRHP), they have been required to liquidate such benefits prior to the provision has been found to be impacting founders classified as promoters at the time of filing of DRHP, Sebi chairman Tuhin Kanta Pandey said the board approved a proposal to "facilitate founders who received such benefits at least one year prior to the filing of DRHP with the board, to continue holding, and/or exercising such benefits even after being specified as the promoter/s and the company becoming a listed entity".These proposals are expected to assist public companies who intend to list after undertaking reverse flipping -- shifting the country of incorporation from a foreign jurisdiction to was the second board meeting under the chairmanship of Pandey, who assumed office on March the Sebi board approved a to rationalise the content of the placement document of Qualified Institutions Placement (QIP) by prescribing only the relevant information regarding the in QIPs, the issuer is required to disclose the details in the placement document as prescribed under ICDR (Issue of Capital and Disclosure Requirements) disclosures are detailed in nature and preparing a lengthy placement document is a time-consuming exercise that results in duplication of information, which is already available in the public domain."The board approved amendments to ICDR Regulations for simplifying and streamlining the placement document for qualified institutional placement by listed entities," Sebi said, adding this builds on the simplification and streamlining undertaken for rights issues by listed proposal factors in the availability of information for listed entities in the public domain, and reduces or eliminates duplication of such information in the placement document. Making disclosures has also been enabled in a summarised and concise areas of disclosure being simplified include risk factors being specified in relation to the issue, the objects of the issue and the material risks (dispensing with generic risk factors being disclosed), providing a summary of financial position (dispensing provision of complete financial statements) and providing a summary of issuer's business and the industry in which it operates.
News18
11-06-2025
- Business
- News18
IREDA QIP: Rs 2,005.90 Cr Raised Via Share Issue; LIC Leads With 50% Allocation
Last Updated: A major portion of the issue was picked up by LIC, which invested approximately Rs 1,002.95 crore for 6,07,33,280 shares, accounting for 50% of the total QIP. IREDA QIP: The board of IREDA (Indian Renewable Energy Development Agency) on Wednesday approved QIP (Qualified Institutions Placement) of Rs 2,005.90 crore. According to press release, a total of 12,14,66,562 equity shares were allotted at an issue price of Rs 165.14 per equity share, reflecting a premium of Rs 155.14 per equity above the face value of Rs 10 per equity. They are being issued at a discount of Rs 8.69 per share, given the floor price of 5 per cent. A major portion of the issue was picked up by the Life Insurance Corporation of India (LIC), which invested approximately Rs 1,002.95 crore for 6,07,33,280 shares, accounting for 50% of the total QIP. Societe Generale (ODI) followed with an investment of around Rs 180.23 crore for 1,09,10,257 shares, while Morgan Stanley Asia (Singapore) PTE acquired 1,10,76,814 shares for nearly Rs 182.89 crore. Vikasa India EIF I Fund subscribed to 62,34,433 shares, investing approximately Rs 102.95 crore. The shares were issued at a discount of Rs 8.69 per share, which is 5% below the floor price, in line with SEBI's ICDR regulations. IREDA shares traded flat at Rs 182.40 apiece at the time of writing this report. Earlier, the scrip opened at Rs 182.45 apiece, against the previous day close at Rs 182.45 apiece. The stock's 52-week high and low reflects at Rs 310 apiece and Rs 137 apiece, respectively. IREDA has a market cap of Rs 49,038 crore and is part of BSE 200. LIC shares, on the other hand, traded 0.50 per cent higher at Rs 951.45 apiece. IREDA reported a 49% increase in its standalone net profit, reaching Rs 502 crore for the March 2025 quarter, compared to Rs 337 crore in the same period last year. For the full financial year 2024-2025 (FY25), IREDA achieved a net profit of Rs 1,698.60 crore, up from Rs 1,252.24 crore in FY24, indicating a 36% growth on a YoY basis. Additionally, the overall revenue rose by 36% YoY to Rs 6,742 crore during the reviewed year, compared to Rs 4,964 crore in the previous financial year. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. About the Author Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. First Published: June 11, 2025, 10:52 IST
