IPO News

Rail Vikas Nigam Ltd (RVNL) on April 11 made a tepid market debut 2C as the scrip got listed at Rs. 19 on BSE 2C the same as the issue price. 2Fp 3E 0A The price band is set at Rs. 17-19 per equity share of face value of Rs. 10 each of the company (the Equity Shares).

Capital market watchdog SEBI has approved an Initial Public Offering by chemical maker Neogen Chemicals. The company had filed for an approval for an IPO with Sebi in the month of November 2018. Neogen Chemicals specialises in Bromine based compounds and Lithium Salts for pharmaceutical agrochemical and other speciality clients in India, Europe and Japan. The Mumbai based company seeks to issue shares worth Rs 70 crore and an offer for sale upto Rs 29 lakh by the promoters. 

Shares of Chalet Hotels a high hotelier based out of Mumbai fell after listing at 525 premium in its debut on exchanges on February 7 2019. The shares of CHALET fell to as low as Rs 250 on the National Stock Exchange. Chalet Hotels opened at Rs 294 on the National Stock Exchange and Rs 291 on Bombay Stock Exchange compared to its issue price of Rs 280 per share. Chalet Hotels manages high-end hotels that represents 2328 keys as of March 2018 and also manages serviced apartments in Indian metros. At CHALET traded at Rs. 286.70 on the National Stock Exchange. 

Chalet Hotels Ltd (Chalet) is coming out with an initial public offering (IPO) of equity shares comprising a fresh issue and an offer for sale (OFS) in the price band of Rs. 275-280 per share. 2Fp 3E 0A The company plans to raise Rs. 1629-1641 crore at the lower and upper end of the price band respectively. The offer is being made through a fresh issue of 3.45-3.39 crore shares based on the lower and upper end of the price band (aggregating to Rs. 950 crore) and an OFS of up to 24 2C685 2C000 shares of existing shareholders. Issue opens – January 29 2019 br Issue closes – January 31 2019 br Issue size – Rs. 1629-1641 crore at lower and upper end of price band respectively br 2F 3EType of issue – Fresh issue of equity shares 2B offer for sale of equity shares br Offer size (fresh) – Rs. 950 crore br 2F 3EOffer for sale – 24 685 2C000 equity shares br Face value – Rs. 10 per share br Price band – Rs. 275-280 per share br 2F 3EBid lot – Minimum lot of 53 equity shares and in multiples of 53 equity shares  strong Company Background – 2Fstrong 3E 2Fp 3E 0A Chalet Hotels Limited (Chalet)  part of K. Raheja Corp owns  develops and manages high-end hotels in key metro cities in India. The company  assets are operated by Marriott Hotels India Private Limited and its affiliates. The company hotel platform comprises five operating hotels including a hotel with a co-located serviced residence 2C located in the high entry-barrier markets of Mumbai Hyderabad and Bengaluru  representing 2328 rooms as of March 31 2018.

Shares of Garden Reach Shipbuilders  Engineers made a tepid debut on NSE  as the scrip got listed at Rs. 102.50 on NSE a 13.14 25 discount to its issue price of Rs. 118. On BSE the scrip got listed at Rs. 104 down 11.86 25. The initial public offer (IPO) which opened for subscription from September 24 to September 26 had to be extended to October 1 due to lack of investor interest. The price for the issue was revised downward to Rs. 114-118 per share from from Rs. 115-118. Its initial public offer was subscribed 1.02 times.

Aavas Financiers shares listed at a discount of 7.67 25 at Rs. 758 against issue price of Rs. 821.  The stock fell as much as 13.4 25 to Rs. 710.45 on the BSE. 2Fp 3E 0A Aavas Financiers Ltd. Rs. 1734-crore initial public offering (IPO) saw 97 25 subscription on its final day of bidding.