Latest news with #ICICIPrudentialMF
Mint
5 days ago
- Business
- Mint
Crizac IPO: Kolkata-based education platform raises ₹258 crore from anchor investors ahead of public issue
Crizac IPO: Kolkata-based education platform Crizac Limited completed its anchor round on Tuesday, 1 July 2025. The Crizac IPO raised ₹ 258 crore from anchor investors ahead of the initial public offering (IPO). According to the BSE filing, Crizac allocated a total of 1,05,30,612 or more than 1.05 crore equity shares to the anchor investors at an allotment price of ₹ 245 per share, with the face value of ₹ 2 apiece. Societe Generale, Pinebridge Global Funds, Shamyak Investment Private Limited, Aryabhata India Fund, ICICI Prudential MF, Allianz Global Investors Fund, Carnelian Bharat Amritkaal Fund, 360 One Equity Opportunity Fund, Motilal Oswal MF, Bandhan MF, Axis Max Life Insurance and Kotak Mahindra Life Insurance were the top anchor investors who booked the Crizac IPO. Shamyak Investment Private Limited at 13.95%, Aryabhata India Fund at 10.85%, ICICI Prudential MF at 8.14%, and Allianz Global Investors Fund at 8.14% were the top anchor allocations for the public issue. According to the BSE filing, a total of three domestic mutual funds applied to the IPO via a total of five schemes. As of Tuesday, 1 July 2025, the grey market premium (GMP) of the Crizac IPO stood at ₹ 12 per share. With the upper price band at ₹ 245 per share, the stocks are expected to be listed at ₹ 257 apiece, a listing premium of 4.9%, according to Investorgain data. Grey market premium (GMP) is an indicator of the investors' willingness to apply for a public issue. The GMP jumped to current level of ₹ 12 per share after the anchor round update on 1 July 2025. Crizac IPO is offering a book-built issue of a full offer-for-sale (OFS) component of equity shares up to ₹ 860 crore from the company promoters, Pinky Agarwal and Manish Agarwal. The company fixed the price band for the public issue in the range of ₹ 233 to ₹ 245 per equity share of face value of ₹ 2 apiece. The IPO has a lot size of 61 shares per lot. Crizac Ltd will not receive any proceeds of the public issue as the IPO only has an offer-for-sale component from the company. The company has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Equirus Capital Private Limited is the book-running lead manager for the public issue, while MUFG Intime India Private Limited (formerly Link Intime) is the registrar to the offer. Read all stories by Anubhav Mukherjee
Hans India
17-06-2025
- Business
- Hans India
Oswal Pumps IPO Fully Subscribed
Oswal Pumps Ltd's IPO, open from June 13 to June 17, has been fully subscribed, led by strong interest from retail and Non-Institutional Investors. The company raised ₹416.2 crore from anchor investors, including ICICI Prudential MF, Kotak Mahindra MF, and Aditya Birla Sun Life MF. The IPO price band is ₹584–₹614 per share, with a total issue size of ₹1,387 crore. Investors had to bid in lots of 24 shares. Share allotment will be finalized on June 18, with refunds and share credits on June 19. Oswal Pumps shares will debut on BSE and NSE on June 20. Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar panels. With over 22 years of experience, the company is well-established in the renewable energy and pump manufacturing sector.
Hans India
06-06-2025
- Business
- Hans India
Vedanta to use Rs 5,000 cr NCD funds to cut debt
New Delhi: Mining Major Vedanta Ltd plans to utilise Rs 5,000 crore raised through its unsecured non-convertible debenture (NCD) to retire high-cost debt, that will save an estimated Rs 350 crore in interest outgo, sources will also use a part of the proceeds to fund its growth capex, sources added. Mining conglomerate Vedanta Ltd had last week said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The mining major plans to deploy funds from the Rs 5,000 crore raised through its unsecured NCD issue to pay down a high-cost private credit facility of Rs 3,400 crore, potentially reducing its annual interest burden by at least Rs 350 crore, sources said. The remaining funds will likely be used for ongoing capex requirements, general corporate purposes, and repayment or prepayment of existing debts, sources added. The NCD offering, which closed on Wednesday, was oversubscribed with bids worth Rs 6,555 crore, indicating a 60 per cent oversubscription over its base issue size of Rs 4,100 crore. This prompted the company to exercise its greenshoe option of Rs 900 crore, raising a total of Rs 5,000 crore. The issuance attracted heavy demand from all categories of investors, including mutual funds, insurance companies, infrastructure finance companies, corporates, and NBFCs. Among the key investors who were ICICI Prudential MF, Aditya Birla Sun Life MF, Kotak Mahindra MF, HSBC MF, Axis MF, Star Health Insurance, Reliance Insurance, Aseem Infrastructure Finance, Alpha Alternatives and Larsen and Toubro among others, sources said, adding that the unsecured NCDs have a coupon rate of 9.31 per cent for the 2.5 years series, 9.45 per cent for the 3 year series and 8.95 per cent for the 2 year series. This is the second unsecured NCD issuance by the company in 2025. In February, the company raised Rs 2,600 crore via unsecured non-convertible debentures at a 9.40-9.50 per cent coupon rate, attracting institutional investors, including ICICI Prudential, Kotak, Nippon, Aditya Birla Sun Life, and Axis. The company's net debt stood at Rs 53,251 crore as on March 31, 2025.
Time of India
05-06-2025
- Business
- Time of India
Vedanta to use Rs 5,000 cr NCD funds to cut high-cost debt, save Rs 350 crore in interest
Vedanta Ltd plans to save ₹350 crore in interest by using ₹5,000 crore raised through unsecured NCDs to retire high-cost debt. The NCD issue was oversubscribed by 60%, attracting diverse investors like mutual funds and insurance companies. A portion of the funds will also be allocated to growth capex and other corporate purposes. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mining Major Vedanta Ltd plans to utilise Rs 5,000 crore raised through its unsecured non-convertible debenture ( NCD ) to retire high-cost debt, that will save an estimated Rs 350 crore in interest outgo, sources will also use a part of the proceeds to fund its growth capex, sources conglomerate Vedanta Ltd had last week said the committee of directors has approved raising up to Rs 5,000 crore via issuance of mining major plans to deploy funds from the Rs 5,000 crore raised through its unsecured NCD issue to pay down a high-cost private credit facility of Rs 3,400 crore, potentially reducing its annual interest burden by at least Rs 350 crore, sources remaining funds will likely be used for ongoing capex requirements, general corporate purposes, and repayment or prepayment of existing debts, sources NCD offering, which closed on Wednesday, was oversubscribed with bids worth Rs 6,555 crore, indicating a 60 per cent oversubscription over its base issue size of Rs 4,100 prompted the company to exercise its greenshoe option of Rs 900 crore, raising a total of Rs 5,000 issuance attracted heavy demand from all categories of investors, including mutual funds, insurance companies, infrastructure finance companies, corporates, and the key investors who were ICICI Prudential MF, Aditya Birla Sun Life MF, Kotak Mahindra MF, HSBC MF, Axis MF, Star Health Insurance, Reliance Insurance, Aseem Infrastructure Finance, Alpha Alternatives and Larsen and Toubro among others, sources said, adding that the unsecured NCDs have a coupon rate of 9.31 per cent for the 2.5 years series, 9.45 per cent for the 3 year series and 8.95 per cent for the 2 year is the second unsecured NCD issuance by the company in 2025. In February, the company raised Rs 2,600 crore via unsecured non-convertible debentures at a 9.40-9.50 per cent coupon rate, attracting institutional investors, including ICICI Prudential, Kotak, Nippon, Aditya Birla Sun Life, and company's net debt stood at Rs 53,251 crore as on March 31, 2025. Vedanta Group one of the world's leading natural resources, critical minerals, energy and technology companies spanning across India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate and foraying into electronics and display glass manufacturing.
