Balaji Solutions files draft papers with Sebi to raise funds via IPO
时间:2024-06-26 12:07:53 阅读(143)
IT hardware and mobile accessories firm Balaji Solutions has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).The public issue consists of a fresh issue of equity shares worth up to Rs 120 crore and an offer-for-sale (OFS) of up to 75 lakh equity shares by promoter and promoter group entity, according to the draft red herring prospectus (DRHP).
Under the OFS, Rajendra Seksaria and Rajendra Seksaria HUF will offload shares.The offer also includes a reservation for subscriptions by eligible employees. The company may consider a pre-IPO placement aggregating up to Rs 24 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance worth Rs 86.60 crore will be utilised for funding incremental working capital requirements and general corporate purposes.
Balaji Solutions is an IT hardware and peripherals and mobile accessories company engaged in the business of manufacturing and branding products under its flagship brand “Foxin”.
Also read| Balaji Speciality Chemicals files IPO papers with SEBI, plans to raise Rs 250 crore via fresh issue
The company’s revenue decreased to Rs 482.25 crore for the financial year 2022 from Rs 483.48 crore for the financial year 2021, besides, profit after tax dropped to Rs 15.39 crore in FY22 from Rs 16.25 crore in the preceding fiscal.IDBI Capital Markets and Securities and Affinity Global Capital Market are the books running lead managers. The equity shares are proposed to be listed on BSE and NSE.
猜你喜欢
- Cap rates falling in warehousing assets; Investors trading off yields for future growth prospects
- CarTrade Tech shares recover as pre-IPO period ends
- Cipla Rating- buy; Cipla’s US outlook remains intact
- Capital goods stand strong in weak market
- Wipro share price jumps 3% after board OKs Rs 12,000 crore buyback; Should you buy, hold, sell Wipro stock-
- Gold bonds losing their shine, demand at three-year low
- Gold climbs Rs 170; silver jumps Rs 350
- e 39,500. “Support placed at 17900 and 39,200.” Meanwhile, Nagaraj Shetti believes that any lack of strength around 17900-18000 levels in the next 1-2 sessions could pull Nifty below the resistance area in the short term. “On the other side, a decisive move above 18K mark is likely to pull Nifty towards the next upside target of 18600 levels in the near term. Immediate support is placed at 17760 levels,” he said.
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
- Cipla, BPCL among top stocks to buy; Charts show Nifty may retest 17850 level once 17550 topped