Upcoming IPO

  OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market Hospitality and travel-tech firm OYO is looking to launch its initial public offer after September and has written to stock market regulator Sebi, seeking to file updated and restated consolidated financial information. The company, which had filed preliminary papers with Sebi to raise Rs 8,430 crore through an initial share sale in October last year, is now prepared to settle for a lower valuation of around USD 7-8 billion against the USD 11 billion it was targeting initially, according to people in the know of the development. OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market, they said. It is understood that in a letter to Sebi, Oravel Stays

The much-awaited initial public offering (IPO) of Life Insurance Corporation of India (LIC) has closed, and the company will finalize the allotment by Thursday, May 12, as announced by DIPAM Secretary Tuhin Kant Pandey. The LIC IPO opened for subscription between May 4-9. The issue was kept open for bidding during the weekends as well, an unusual way to attract investors. LIC's Rs 20,557 crore IPO was sold in the range of Rs 902-949 per equity share, where eligible policyholder received a discount of Rs 60 apiece, whereas retailers and eligible employees were offered a discount of Rs 45 per share. The issue was entirely an offer for sale by the government of India, wherein it has offloaded only a 3.5 per cent stake. The issue was overall subscribed 2.95 times, thanks to strong participation from policyholders and employees, whose portions were subscribed 6.12 times and 4.4 times, respectively. Qualified institutional investors made 2.83 times bid for their allocations, whereas non

The much-awaited IPO of Life Insurance Corporation is set to open for subscription today, after it recorded bumper participation from anchor investors. Find out if you should subscribe to it. The initial public offer of Life Insurance Corporation is set to open for subscription today. At Rs 21,000 crore, the offer will be India’s biggest issue till date. The next two biggest issues that hit the Street in the past were that of Paytm-owner One97 Communication, and state-run Coal India. Globally, this is the world’s fifth biggest IPO in calendar year 2022. LIC IPO witnessed robust traction from leading investors including SBI Mutual Fund, Axis Mutual Fund and Aditya Birla Sun Life MF. The company raised around Rs 5,627 crore from anchor investors on Monday, at Rs 949 per share. However, much of this amount was raised with the help of domestic mutual funds as foreign funds invested little over Rs 1,600 crore. Analysts say the low demand may be because of the present risk aversion among fo

LIC public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors. LIC IPO   Public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors. The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. The LIC initial public offering (IPO), now open for retail and institutional investors, is set to close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, and policyholders will get a discount of Rs 60 per equity share. The share sale is through an offer-for-sale (OFS) of up to 22.13 crore equity shares. The shares are likely to be listed on May 17. LIC has cornered a little over Rs 5,627 crore from anchor invest