Latest news with #InitialPublicOffering
Business Standard
a day ago
- Business
- Business Standard
Cedaar Textile Secures ₹9.52 Crore from Anchor Investors Ahead of IPO
VMPL Mumbai (Maharashtra) [India], June 28: Cedaar Textile Limited has successfully completed its anchor book allocation, raising ₹9.52 crore ahead of its upcoming Initial Public Offering (IPO). The anchor book received an enthusiastic response from marquee institutional investors, underscoring strong market confidence in the company's fundamentals and future outlook. A total of 6.8 lakh equity shares were allocated to esteemed anchor institutions at the upper end of the price band, ₹140 per share. Notable participants in the anchor round include: * Velcoe Opportunities Fund - 1,43,000 shares (₹2.00 crore) * SB Opportunities Fund II - 2,15,000 shares (₹3.01 crore) * Shine Star Build Cap Pvt. Ltd. - 1,43,000 shares (₹2.00 crore) * Saint Capital Fund - 1,79,000 shares (₹2.51 crore) The IPO of Cedaar Textile is scheduled to open on June 30, 2025, and will close on July 2, 2025. The company has set a price band of ₹130 to ₹140 per share, with an overall issue size aggregating up to ₹60.90 crore at the upper end. The minimum lot size for application is 1,000 shares. The successful anchor subscription is expected to bolster investor sentiment ahead of the public issue. Cedaar Textile, known for its expertise in the textile sector, plans to utilize the IPO proceeds to fuel its growth and expansion initiatives. Market participants are closely watching the IPO, given the strong institutional interest demonstrated in the anchor round. Investors are advised to carefully review the Red Herring Prospectus (RHP) filed with the NSE for detailed information, including financials and risk factors, before making investment decisions. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Economic Times
2 days ago
- Business
- Economic Times
Shadowfax likely to file confidential DRHP papers to raise Rs 2,500 crore next week
TPG-backed logistics service provider Shadowfax is likely to file draft papers with capital markets regulator Sebi through a confidential route for its IPO to raise up to Rs 2,500 crore early next week, according to sources. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads TPG-backed logistics service provider Shadowfax is likely to file draft papers with capital markets regulator Sebi through a confidential route for its IPO to raise up to Rs 2,500 crore early next week, according to confidential pre-filing route allows a company to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later said that the Initial Public Offering (IPO) of Shadowfax is expected to be in the range of Rs 2,000-2,500 public issue comprises a mix of fresh issue of shares and offer for sale (OFS) by existing shareholders. The company is expected to be valued around Rs 8,500 crore, they company plans to utilise the proceeds from the fresh issue towards enhancing capacity, driving growth, and further investments in the company's network business, as per the February this year, the company had raised funds at an approximate valuation of Rs 6,000 Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth e-commerce segment is the major revenue contributor, accounting for around 75 per cent of the business and the remaining comes from quick commerce and hyperlocal in 2015 by IIT Delhi alumni Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the company stands as one of India's leading logistics service provider for e-commerce express parcel and value-added a robust distribution network covering over 2,200-plus cities and more than 14,300 PIN codes, Shadowfax has established itself as a market leader in the logistics industry.
Time of India
2 days ago
- Business
- Time of India
Shadowfax likely to file confidential DRHP papers to raise Rs 2,500 crore next week
TPG-backed logistics service provider Shadowfax is likely to file draft papers with capital markets regulator Sebi through a confidential route for its IPO to raise up to Rs 2,500 crore early next week, according to sources. The confidential pre-filing route allows a company to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later stages. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Undo Sources said that the Initial Public Offering (IPO) of Shadowfax is expected to be in the range of Rs 2,000-2,500 crore. The public issue comprises a mix of fresh issue of shares and offer for sale (OFS) by existing shareholders. The company is expected to be valued around Rs 8,500 crore, they added. The company plans to utilise the proceeds from the fresh issue towards enhancing capacity, driving growth, and further investments in the company's network business, as per the sources. Live Events In February this year, the company had raised funds at an approximate valuation of Rs 6,000 crore. Bengaluru-based Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds. The e-commerce segment is the major revenue contributor, accounting for around 75 per cent of the business and the remaining comes from quick commerce and hyperlocal deliveries. Founded in 2015 by IIT Delhi alumni Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the company stands as one of India's leading logistics service provider for e-commerce express parcel and value-added services. With a robust distribution network covering over 2,200-plus cities and more than 14,300 PIN codes, Shadowfax has established itself as a market leader in the logistics industry.
The Hindu
3 days ago
- Business
- The Hindu
Brihaspathi Tech setting up CCTV plant near Hyderabad with ₹70 crore
AI surveillance and security solutions provider Brihaspathi Technologies is setting up a CCTV manufacturing facility in Tuniki Bollaram, near Hyderabad. Behind the move of the 18-year old firm — that has deployed 1.2 million CCTV cameras and counts Border Security Force (BSF), Election Commission (EC), Telangana High Court among customers — is the Centre recently making Standardisation Testing and Quality Certification mandatory from a perspective of securing such surveillance infrastructure devices. The Make in India push of the government is also a factor, managing director Rajasekhar Papolu said, estimating the 72,000 sq ft multi-storied manufacturing plant, a research and development facility and an experience centre to entail around ₹70 crore investment. The company has begun work to set up the plant on a 2.5 acre land parcel, he said, adding the facility is likely to be ready by December. Laptop manufacturing and exploring partnerships with drone companies for the cameras is under consideration, he said. Brihaspathi Technologies recently raised $10 million from foreign institutional investors. It also plans making an Initial Public Offering (IPO) in 2026-27 on the back of improved financial performance. The company is confident of achieving ₹450 crore turnover this fiscal. For 2024-25, it had posted ₹204 crore turnover and ₹42 crore net profit. On benefits of local manufacturing, Mr. Papolu said 70-80% of the final product would be made in India though import of certain components, especially the system on chip (SoC), remain inevitable. The company is constantly looking to add more 'intelligence into the cameras to make the decision making easier [for users]', he said, adding Brihaspathi now sourced cameras from various vendors depending on the customer specifications. With STQC norm — of authorised laboratories testing the cameras — and provision of incentives for domestic manufacturing, the government is seeking to restrict imports and rein in threats and data thefts, he said. The company's cameras are installed at diverse locations from the country's borders with Pakistan and Bangladesh, competitive exam centres, Indian Oil Corporation's LPG bottling plants to Kaziranga National Park. The Maharashtra State Road Transport Corporation has awarded the company a project to implement a comprehensive AI-enabled CCTV monitoring system across the MSRTC network, he said.
New Indian Express
3 days ago
- Business
- New Indian Express
Hyderabad-based firm raises USD 10 million, secures Maharashtra RTC project
HYDERABAD: Hyderabad-based Brihaspathi Technologies Limited — an AI-driven surveillance and security solutions provider — has raised USD 10 million from foreign institutional investors and others. The funds will support the company's expansion, including the establishment of a new CCTV manufacturing unit in Hyderabad, which is expected to be operational by the end of this financial year. Managing Director Rajasekhar Papolu on Thursday revealed that the company has secured a major surveillance contract from the Maharashtra State Road Transport Corporation (MSRTC) to implement an AI-enabled CCTV monitoring system across its network. 'Brihaspathi Technologies is also preparing for an Initial Public Offering (IPO) in FY 2026-27. The proceeds will be used to enhance R&D, boost manufacturing capabilities and advance AI-based innovations,' he added.
