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Mint
24-06-2025
- Business
- Mint
LIC-owned NBFC stock to be in focus on Wednesday; Here's why
LIC-owned small-cap non-banking financial company (NBFC, Paisalo Digital shares will be in the focus of stock market investors on Wednesday, 25 June 2025, after the company approved a ₹ 480 crore fundraising allocation via commercial papers on Tuesday, 24 June 2025, according to an exchange filing. Paisalo Digital 'approved the allocation of Commercial Papers (CPs) in one or more tranches aggregating up to ₹ 480,00,00,000 ( ₹ 470 crore) on a private placement basis,' as per the BSE filing. As per the filing data, the company also approved the allotment of 600 listed commercial papers amounting to ₹ 30 crore via another private placement. 'Approved the allotment of 600 Listed Commercial Papers (CPs) of the Face Value of ₹ 5,00,000 ( ₹ 5 lakh) each aggregating of ₹ 30,00,00,000/- ( ₹ 30 crores) through private placement,' said the company in the filing. Commercial papers are short-term unsecured debt instruments which are used by companies to raise funds in single or multiple tranches to fulfil their working capital needs or other commitments. Paisalo Digital shares closed 2.71% higher at ₹ 30.29 after Tuesday's stock market session, compared to ₹ 29.49 in the previous market session. The company announced the allotment of the commercial papers during the stock market session on 24 June 2025. The shares of the LIC-owned small-cap NBFC have given stock market investors more than 175 per cent returns on their investment in the last five years. However, the shares have lost more than 60 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares are down 38.85 per cent. Paisalo Digital shares hit their 52-week high levels at ₹ 81.95 on 12 July 2024, while the 52-week low level was at ₹ 29.40 on 20 June 2025, according to BSE data. The shares are currently trading above their 52-week low levels. The company's market capitalisation (M-Cap) stands at ₹ 2,732.52 crore as of the stock market close on Tuesday, 25 June 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
India Gazette
20-06-2025
- Business
- India Gazette
Shri Hare-Krishna Sponge Iron Limited launches 29.91 crore IPO
HT Syndication New Delhi [India], June 20: 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. 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. 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. 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 LimitedFlat 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. (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)
India.com
05-06-2025
- Business
- India.com
This company raises over Rs 416 crore via equity shares, warrants
बाजार को सता रहा और भी ज्यादा गिरावट का डर Apollo Micro Systems, a leading technology-driven firm in the aerospace, defence, and homeland security sectors, on Wednesday announced the completion of its preferential allotment of equity shares and convertible warrants, raising a total of over Rs 416 crore. The allotments were made to promoter group, Non-Executive Director Aditya Kumar Halwasiya and LIC Mutual Fund. In a statement, the company said the preferential issue involved 2. 70 crore equity shares allotted at Rs 114 each, aggregating to Rs 308 crore along with 3. 80 crore convertible equity warrants issued at the same price, with 25 per cent upfront subscription, aggregating to Rs 108. 5 crore in initial proceeds. An additional Rs 325. 50 crore is anticipated within six months as the rest 75 per cent of the convertible warrants' proceeds. As part of the preferential issue, the promoter group has subscribed to 1. 68 crore convertible equity warrants. Halwasiya was allotted 15 lakh shares and an additional 15 lakh convertible equity warrants and LIC Mutual Fund participated with an allotment of 26. 31 lakh shares. The capital raised will be deployed towards growth initiatives, working capital requirements, and strengthening the company's innovation capabilities in high-tech and mission-critical solutions.
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Business Standard
04-06-2025
- Business
- Business Standard
Apollo Micro Systems raises over Rs 416 cr via equity shares, warrants
Apollo Micro Systems, a leading technology-driven firm in the aerospace, defence, and homeland security sectors, on Wednesday announced the completion of its preferential allotment of equity shares and convertible warrants, raising a total of over Rs 416 crore. The allotments were made to promoter group, Non-Executive Director Aditya Kumar Halwasiya and LIC Mutual Fund. In a statement, the company said the preferential issue involved 2.70 crore equity shares allotted at Rs 114 each, aggregating to Rs 308 crore along with 3.80 crore convertible equity warrants issued at the same price, with 25 per cent upfront subscription, aggregating to Rs 108.5 crore in initial proceeds. An additional Rs 325.50 crore is anticipated within six months as the rest 75 per cent of the convertible warrants' proceeds. As part of the preferential issue, the promoter group has subscribed to 1.68 crore convertible equity warrants. Halwasiya was allotted 15 lakh shares and an additional 15 lakh convertible equity warrants and LIC Mutual Fund participated with an allotment of 26.31 lakh shares. The capital raised will be deployed towards growth initiatives, working capital requirements, and strengthening the company's innovation capabilities in high-tech and mission-critical solutions.
Mint
19-05-2025
- Business
- Mint
Block deals stage a comeback, defying IPO lull, volatility
Block deals are making a comeback, offering much-needed relief to India's equity capital markets amid an ongoing lull in initial public offerings (IPOs) and heightened volatility, according to experts. In just the first 15 days of May, investors executed 12 block deals worth ₹3,541.97 crore compared with only five deals aggregating ₹506.37 crore in April, according to data from Prime Database. Last week alone, nearly six large transactions took place; Antfin sold 4% stake in Paytm, General Atlantic divested 6.9% in KFin Technologies, and Singapore Telecommunications Ltd offloaded 1% stake to Bharti Airtel. Sajjan Jindal Family Trust also plans to sell shares worth up to ₹1,200 crore in JSW Infrastructure through a block deal in the coming days, according to media reports. 'This has been on account of a rebound in market sentiment and geopolitical de-escalation and supported by close to $3 billion in FII net inflows this quarter, along with steady DII participation, signaling renewed investor confidence," said Gaurav Sood, managing director and head, equity capital markets at Avendus Capital, an investment banking firm. Also read | Sebi seeks to streamline QIP disclosures but experts flag legal hurdles Global tailwinds are also contributing to this rebound. The US has dialled back aggressive tariff policies and is working to resolve trade tensions with its key partners. 'With the US now working to finalize trade treaties with its largest trade partners has eased this tension on the markets, which has been one of the factors that has led to a rebound in Indian equities," said Abhimanyu Bhattacharya, partner at Khaitan & Co., a law firm advising on ECM deals. The expiry of lock-in periods for recently listed companies is expected to push more block trades into the market. Large investors may now look to encash stakes in startups and tech companies listed in 2023. Recently listed online food delivery player Swiggy's six-month lock-in period for non-promoter, pre-IPO shareholders expired on 12 May. Read this | From drought to revival: Are QIPs paving the way for new listings? 'The volume of IPOs last calendar year (~$20 billion) will see lock-up expiry, which will provide supply of block deal paper," said Mahesh Natarajan, managing director and head, ECM, Nomura. He added that several companies that adjusted their IPO sizes—both in the primary and secondary markets—are likely to return to the market once their lock-in periods end. Bankers believe block trades act as leading indicators of a broader revival in ECM activity. Block deals are faster to execute, offer immediate liquidity, and provide clear pricing—especially when there is strong institutional interest. In comparison, IPOs demand deeper investor scrutiny and have seen lukewarm traction in recent times. Qualified institutional placements (QIPs), on the other hand, remain a flexible tool as they are largely opportunistic and driven by company-specific funding requirements. 'Unlike block trades, IPOs/QIPs typically have a slightly longer lead time due to regulatory requirements," explained Chirag Negandhi, MD, JM Financial. With the recent market uptick, he anticipates a wave of ECM launches to gain traction. Also read | QIPs by state-owned banks: A push for compliance but little upside for investors Since its September peak till the end of April, the Nifty 50 has slipped 7%. Meanwhile, the market's fear gauge-India VIX-has surged 52%, signalling a sharp rise in market volatility and investor unease. Since the beginning of May, Nifty 50 has recovered 3% of those losses and is now down 4.6% since the September peak. Owing to the volatility, over the past quarter IPO activity has slowed even as a number of companies have taken steps for a public listing in the near term. Since then, the public markets have seen some recovery. Law firms advising on capital market deals say IPO and QIP pipelines remain soft, but strong block deal momentum could turn the tide if markets stay stable over the next few months. 'The other segments, including IPOs and QIPs, have been slower over the last few months due to the correction in the market. If there is an upward movement and stability demonstrated, all ECM categories may eventually see upward traction," said Birbahadur Sachar, partner, JSA Advocates & Solicitors. Read this | FII game plan: Sell stocks for profit, bet on IPOs, discounted QIPs, block deals Amit Ramchandani, managing director and chief executive officer, investment banking, Motilal Oswal Financial Services, believes, 'Block deals increase after companies declare results as many of these deals are done by insiders who are prohibited to sell the stock after quarter end till declaration of results". He added that key concerns—whether related to Pakistan, tariffs, or foreign investment flows—have now been addressed. And with strong scale and growth potential, India is well-positioned to attract capital.
