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Business Standard
25-06-2025
- Business
- Business Standard
HDB Financial Services IPO sees 37% subscription on first day of bidding
The initial public offer of HDB Financial Services Ltd, a subsidiary of HDFC Bank, received 37 per cent subscription on the fi₹t day of bidding on Wednesday. The initial share sale got bids for 4,85,98,380 shares against 13,04,42,855 shares on offer, as per NSE data. The category for non-institutional investors attracted 76 per cent subscription while the quota for Retail Individual Investors (RIIs) got subscribed 30 per cent. Qualified Institutional Buyers (QIBs) quota got subscribed 1 per cent. HDB Financial Services mopped up ₹3,369 crore from anchor investors. The ₹12,500-crore initial public offering (IPO) will conclude on June 27. The price band for the offer has been fixed at ₹700-740 per share. At the upper end of the price band, the company is valued at nearly ₹61,400 crore. The IPO is a combination of a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of ₹10,000 crore by the promoter, HDFC Bank. At present, HDFC Bank owns a 94.36 per cent stake in HDB Financial Services, a non-banking financial company (NBFC) arm of the bank. The company proposes to utilise proceeds from the fresh issue to strengthen its Tier-I capital base. This will support future capital needs, including additional lending, to support business growth. The HDB Financial IPO is the second biggest in the last three years after South Korean automaker Hyundai's ₹27,000-crore offer. JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India) Pvt Ltd, IIFL Capital Services, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management, and UBS Securities India are managing the company's IPO. The company's shares are expected to be listed on the BSE and NSE on July 2. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
20-06-2025
- Business
- Time of India
Shri Hare-Krishna Sponge Iron Limited launches ₹29.91 crore IPO
Shri Hare-Krishna Sponge Iron Limited, engaged in the manufacturing and sale of sponge iron, has announced the launch of its Initial Public Offering ( IPO ) on the NSE Emerge platform. IPO opens on June 24, closes June 26 With face value of ₹10 each, the price band is ₹56 to ₹59 per equity share To support capital expenditure and general corporate purposes The IPO will open on June 24, 2025, and close on June 26, 2025, with a price band of ₹56 to ₹59 per equity share of face value ₹10 each. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The issue comprises a fresh issue of 50,70,000 equity shares , aggregating to ₹29.91 crore at the upper price band. The issue is being managed by Hem Securities Limited. KFin Technologies Limited is acting as the registrar to the issue. The minimum application lot is 2,000 equity shares. Allocation is as follows: 24,02,000 shares for Qualified Institutional Buyers (QIB) 7,24,000 shares for Non-Institutional Investors (NII) 16,86,000 shares for Retail Individual Investors (RII) 2,58,000 shares for Market Makers Utilization of Proceeds: Funding of Capital Expenditure Requirements of our Company towards set up of Captive Power Plant at Siltara-Raipur: ₹2,300 Lakhs General Corporate Purpose Company Overview Shri Hare-Krishna Sponge Iron Limited, incorporated in 2003 and based in Raipur, Chhattisgarh, operates in the sponge iron manufacturing segment. The company owns a manufacturing unit spread across 13.45 acres with an annual installed capacity of 30,000 metric tonnes. Sponge iron produced by the company is a key raw material for electric arc and induction furnace-based steel production. The company is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified. Live Events Financial Highlights (FY25): Revenue: ₹80.47 crore EBITDA: ₹10.78 crore (13.40%) PAT: ₹9.20 crore (11.43%) ROCE: ~15% Leadership Mr. Manoj Parasrampuria, Chairman and Managing Director Mr. Abhishek Parasrampuria, CFO Investor and Media Contact: Corporate Communications - Shri Hare-Krishna Sponge Iron Limited Flat No. 2-D, 2nd Floor, Tower No. 1, Alcove Gloria, 403/1, Dakshindari Road, VIP Road, Sreebhumi, North 24 Parganas, Kolkata - 700048 Email: cs@ Website: Forward-Looking Statement: Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Shri Hare-Krishna Sponge Iron Limited does not undertake to update these statements publicly.
Time of India
16-06-2025
- Business
- Time of India
Oswal Pumps IPO subscribed 1.61 times on day 2 of offer
New Delhi: The initial public offer of Oswal Pumps got subscribed 1.61 times on the second day of the bidding on Monday. The share sale received bids for around 2.61 crore (2,61,58,080) shares against 1.62 crore (1,62,12,980) shares on offer, according to data available with the NSE. The category for non-institutional investors received 4.50 times subscription while the portion for Retail Individual Investors (RIIs) attracted 1.12 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 27 per cent. Oswal Pumps on Thursday mopped up ₹416.2 crore from anchor investors. The initial public offering (IPO) will conclude on Tuesday. The IPO is a combination of a fresh issue of shares valued at ₹890 crore and an offer-for-sale (OFS) of 81 lakh stocks worth ₹497.34 crore at the upper end of the price band, by promoter Vivek Gupta. This aggregates the issue size at ₹1,387.34 crore. The IPO has a price range of ₹584-614 per share. Proceeds from the fresh issue will be used for funding certain capital expenditures of the company, investment in wholly-owned subsidiary Oswal Solar in the form of debt or equity, setting up new manufacturing units at Karnal, Haryana, payment of debt, and general corporate purposes. Oswal Pumps commenced operations in 2003 by manufacturing low-speed monoblock pumps and over the years, it expanded operations to manufacture grid-connected submersible pumps and electric motors. IIFL Capital Services, Axis Capital, CLSA India, JM Financial and Nuvama Wealth Management are the book-running lead managers to the issue. PTI
India Gazette
09-06-2025
- Business
- India Gazette
Monolithisch India Limited launches Rs 82.02 crore IPO
HT Syndication Ranchi (Jharkhand) [India], June 9: Headquartered in Ranchi, Monolithisch India Limited, the manufacturer of specialized ramming mass has announced the launch of its Initial Public Offering (IPO) on the NSE Emerge platform. The IPO opens on June 12, 2025, and closes on June 16, 2025, with a price band of Rs 135 to Rs 143 per equity share. Envisages to set up new manufacturing plant of ramming mass used in the Induction furnaces of iron & steel industry. The manufacturer of silica based ramming mass, will issue 57,36,000 equity shares aiming to raise Rs 82.02 crores. The face value of equity shares is Rs 10 each. The issue is being managed by Hem Securities with KFin Technologies Limited as registrar to the issue. The minimum application lot is 1,000 shares. The company has put 27,23,000 shares on block for Qualified Institutional Buyers (QIB), 8,18,000 for Non-Institutional Investors (NII), 19,07,000 for Retail Individual Investors (RII) and remaining 2,88,000 for Market Markers (MM). The capital raised will be deployed towards: * Funding capital expenditure of Rs 16.58 crore towards setting up a manufacturing by purchasing land, building of factory shed, civil work and installation of plant and machinery therein. This expansion will raise the total installed capacity to approximately 250000 MTPA. * Investing Rs 27.90 crore in subsidiary Metalurgica India Pvt. Ltd. for land purchase, building of shed, civil work and installation of plant machinery. * Meet working capital requirement to the tune of 20 Cr. * Funding general corporate initiatives Company at a Glance Monolithisch India Limited, founded in 2018, is a manufacturer of specialized ramming mass used in induction furnaces up to 45MT by iron & steel producers. The company operates a 132,000 MTPA manufacturing plant in Purulia, West Bengal, and serves iron & steel producers located in the eastern part of India, with most of the customers and raw material suppliers located in nearby states to the company's manufacturing facility. The company produces five grades of ramming mass made out of alpha-quartzite and stone boulder & has developed different grades with different specifications and additives to serve furnace of different sizes and make. The customer base has seen almost 53% rise from 41 customers in FY23 to 63 customers in FY25. It strives to expand its position in additional geographical markets. Track record of healthy financial performance * Revenue CAGR (FY23-FY25): 52.46% * FY25 Revenue: Rs9,734.43 lakhs * EBITDA-Rs2106.24 lakhs (21.64%) * Net Profit: Rs1,448.80 lakhs (14.88%) * ROE- 53.94% * ROCE: 46.22% * Net Worth: Rs3,520.48 lakhs * Debt-to-Equity 1 * Customer Repeat Rate (FY24): 61.44% Leadership Monolithisch is led by Mr. Prabhat Tekriwal, Chairman and CFO, who brings over 36 years of experience in the refractory industry; Mr. Harsh Tekriwal, Managing Director and a Cardiff University alumnus, brings an experience of 7 years; and Mrs. Sharmila Tekriwal, Executive Director, with an experience of 23 years in the refractory material industry. Advantages of Quartz based ramming mass The quality of ramming mass has a direct impact on the heating performance of the furnaces leading to the smooth working of furnaces, optimum output and better metallurgical control. It comes in three variants - acidic (made from silica), basic (made from magnesia) and neutral (made from alumina). Silica ramming mass (also known as acidic ramming mass) is the most commonly used owing to its inherent advantages and application in the induction furnace of the steel industry. The advantage of quartz ramming mass lies in its lowest thermal conductivity resulting in low energy loss, low expansion coefficient leading to the stable lining, and good resistance to temperature. The cost is 10-20% lower as compared to alumina or magnesia based ramming mass. Industry Outlook India is the second-largest producer of crude steel as well as the second-largest consumer of finished steel in the world. The sector contributes to about 2% of the total GDP of the country. Indian steel sector is further bifurcated into the primary and secondary steel sector based on their production pathways. Overall the secondary sector, accounts for 40% steel production in India. The value chain of the secondary steel sector involves the production of sponge iron through the direct reduction route (DRI), which is followed by the production of crude steel (semi-finished steel) through Electric Arc Furnaces (EAF) or Induction Furnaces (IF). The National Steel Policy (NSP) 2017 envisages 300 million tonnes steelmaking capacity and 160 kgs per capital steel consumption by 2030. Investor and Media Contact: Corporate Communications - Monolithisch India Limited Shri Gopal Complex, Kanke Road, Ranchi - 834008 * Email: info@ Website: Forward-Looking Statement: Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Monolithisch India Limited does not undertake to update these statements publicly. (ADVERTORIAL DISCLAIMER: The above press release has been provided by HT Syndication. ANI will not be responsible in any way for the content of the same)
Economic Times
09-06-2025
- Business
- Economic Times
Monolithisch India Limited launches Rs 82.02 crore IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Headquartered in Ranchi, Monolithisch India Limited, the manufacturer of specialized ramming mass has announced the launch of its Initial Public Offering ( IPO ) on the NSE Emerge IPO opens on June 12, 2025, and closes on June 16, 2025, with a price band of Rs 135 to Rs 143 per equity share. Envisages to set up new manufacturing plant of ramming mass used in the Induction furnaces of iron & steel manufacturer of silica based ramming mass, will issue 57,36,000 equity shares aiming to raise Rs 82.02 crores. The face value of equity shares is Rs 10 each. The issue is being managed by Hem Securities with KFin Technologies Limited as registrar to the minimum application lot is 1,000 shares. The company has put 27,23,000 shares on block for Qualified Institutional Buyers (QIB), 8,18,000 for Non-Institutional Investors (NII), 19,07,000 for Retail Individual Investors (RII) and remaining 2,88,000 for Market Markers (MM).The capital raised will be deployed towards:* Funding capital expenditure of Rs 16.58 crore towards setting up a manufacturing by purchasing land, building of factory shed, civil work and installation of plant and machinery therein. This expansion will raise the total installed capacity to approximately 250000 MTPA.* Investing Rs 27.90 crore in subsidiary Metalurgica India Pvt. Ltd. for land purchase, building of shed, civil work and installation of plant machinery.* Meet working capital requirement to the tune of 20 Cr.* Funding general corporate initiativesCompany at a GlanceMonolithisch India Limited, founded in 2018, is a manufacturer of specialized ramming mass used in induction furnaces up to 45MT by iron & steel producers. The company operates a 132,000 MTPA manufacturing plant in Purulia, West Bengal, and serves iron & steel producers located in the eastern part of India, with most of the customers and raw material suppliers located in nearby states to the company's manufacturing company produces five grades of ramming mass made out of alpha-quartzite and stone boulder & has developed different grades with different specifications and additives to serve furnace of different sizes and customer base has seen almost 53% rise from 41 customers in FY23 to 63 customers in FY25. It strives to expand its position in additional geographical record of healthy financial performance* Revenue CAGR (FY23-FY25): 52.46%* FY25 Revenue: Rs9,734.43 lakhs* EBITDA-Rs2106.24 lakhs (21.64%)* Net Profit: Rs1,448.80 lakhs (14.88%)* ROE- 53.94%* ROCE: 46.22%* Net Worth: Rs3,520.48 lakhs* Debt-to-Equity < 1* Customer Repeat Rate (FY24): 61.44%LeadershipMonolithisch is led by Mr. Prabhat Tekriwal, Chairman and CFO, who brings over 36 years of experience in the refractory industry; Mr. Harsh Tekriwal, Managing Director and a Cardiff University alumnus, brings an experience of 7 years; and Mrs. Sharmila Tekriwal, Executive Director, with an experience of 23 years in the refractory material of Quartz based ramming massThe quality of ramming mass has a direct impact on the heating performance of the furnaces leading to the smooth working of furnaces, optimum output and better metallurgical control. It comes in three variants - acidic (made from silica), basic (made from magnesia) and neutral (made from alumina).Silica ramming mass (also known as acidic ramming mass) is the most commonly used owing to its inherent advantages and application in the induction furnace of the steel advantage of quartz ramming mass lies in its lowest thermal conductivity resulting in low energy loss, low expansion coefficient leading to the stable lining, and good resistance to temperature. The cost is 10-20% lower as compared to alumina or magnesia based ramming OutlookIndia is the second-largest producer of crude steel as well as the second-largest consumer of finished steel in the world. The sector contributes to about 2% of the total GDP of the steel sector is further bifurcated into the primary and secondary steel sector based on their production pathways. Overall the secondary sector, accounts for 40% steel production in value chain of the secondary steel sector involves the production of sponge iron through the direct reduction route (DRI), which is followed by the production of crude steel (semi-finished steel) through Electric Arc Furnaces (EAF) or Induction Furnaces (IF).The National Steel Policy (NSP) 2017 envisages 300 million tonnes steelmaking capacity and 160 kgs per capital steel consumption by and Media Contact: Corporate Communications - Monolithisch India LimitedShri Gopal Complex, Kanke Road, Ranchi - 834008* Email: info@ Statement: Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Monolithisch India Limited does not undertake to update these statements publicly.(ADVERTORIAL DISCLAIMER: The above press release has been provided by HT Syndication. will not be responsible in any way for the content of the same)
