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Global Surfaces Ltd., a company that processes natural stones and creates tailored quartz, opened subscriptions for its initial public offering (IPO) on Monday, March 13, and it will run through Wednesday, March 15

Global Surfaces IPO opens today till March 15th 

Global Surfaces IPO opens today, will run through 15th March

Global Surfaces Ltd., a company that processes natural stones and creates tailored quartz, opened subscriptions for its initial public offering (IPO) on Monday, March 13, and it will run through till&nbsp; Wednesday, March 15

Subscriptions for the Global Surfaces Ltd IPO have opened today and will remain open until the 15th of March. The company, which processes natural stones and creates engineered quartz, had set its price band ₹133-140 per share.
The promoters, Mayank Shah and Sweta Shah, are selling up to 25.5 lakh equity shares through an offer for sale in addition to a new 85.20 lakh equity shares.
The money raised through the new issuance will go towards building the company's planned facility, Global Surfaces FZE, in Dubai.
&ldquo;In terms of financial performance, the company reported total revenue of ₹198 crore for the fiscal year ended March 31, 2022, reporting an after-tax net profit of ₹35 crore. For the six months period that ended September 30, 2022, the company has reported revenue of ₹99 crore and profit after tax of ₹13.6 crore. Manish Khanna, Co-Founder at Unlisted Assets, told Mint.&nbsp;
The company is expected to raise Rs 155 crore from the IPO at the upper end of the price band.

Indian ethnic wear retailer, Fabindia has withdrawn its initial share sale documents for its proposed ₹4,000 crore initial public offering amid market uncertainty

Fabindia withdraws its IPO

Indian ethnic wear retailer, Fabindia has withdrawn its initial share sale documents for its proposed ₹4,000 crore initial public offering amid market uncertainty

The retail clothing company, Fabindia, which had its plans to go public this year has withdrawn its initial share sale documents for its proposed ₹4,000 crore IPO amid market uncertainty.&nbsp;
According to report, the decision to withdraw was taken as the current market conditions were not conducive for listing, adding that Fabindia will now explore other liquidity options, including filing for an IPO in the future, depending on its need for growth capital and market conditions.
FabIndia had filed its draft red herring prospectus (DRHP) with the regulator on January 24 this year. According to the DRHP, the company&rsquo;s maiden public offering includes a fresh issue of shares worth up to Rs 500 crore, and an offer for sale (OFS) of up to 2,50,50,543 shares.

As we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023

Year ender 2022: From Oyo to Fabindia; IPOs that can hit Dalal street in 2023

As we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023

Despite geopolitical tensions, inflationary worries, interest rate hikes and fears of recession, India witnessed over 30 Initial Public Offerings in 2022. From LIC to Adani Wilmar, the year has been great in terms of investors returns as majority of the issue has delivered positive returns on listing and are in the green since then.&nbsp;
But as we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023.
Oravel Stays (OYO) The most anticipated and awaited IPO of 2023 is Oravel Stays, popularly known as OYO. New-age technology platform focussing on short-stay accommodation, has the largest footprint of over 157,000 hotel storefronts in India and overseas. It offers over 40 products and services to its partners and customers across 35 countries.
The company filed its draft red herring prospectus (DRHP) in October 2021 and had planned to launch its IPO in 2022. However, due to volatile market conditions and bearish market sentiment, OYO postponed its IPO, worrying that its valuation might be affected.
According to the prospects, OYO in 2023 plans to raise ₹84.3 billion out of which ₹70 billion will be from fresh issues and the remaining ₹14.3 billion through stake sale by existing investors.
2. FabIndia Next on our list is leading consumer lifestyle platform focused on authentic craft-based and organic products, Fabindia.
According to reports, FabIndia plans to raise up to ₹4,000 crore through an initial public offer and in a novel approach, the company's promoters also plan to gift more than 7 lakh shares to artisans and farmers.
The 62-year-old FabIndia operates more than 300 stores and offers a diverse portfolio of lifestyle products across apparel and accessories, home and lifestyle, personal care and organic food categories.
Also watch: <a href="https://www.editorji.com/business-news/year-ender-2022-these-coins-are-the-most-held-cryptos-in-india-1671689118989">Year ender 2022: these coins are the most held cryptos in India</a>
3. Swiggy An online food ordering and delivery platform, Swiggy is next on our list. Established in 2014 in Bangalore, Swiggy currently serves over 500 cities in India.
Apart from food delivery, Swiggy delivers groceries and packages through Swiggy Instamart and Genie.
Currently, the company has partnerships with more than 150 thousand restaurants and has a strong fleet of over 260 thousand delivery executives delivering food to its users.
Swiggy plans to raise around US$1 bn ( ₹81.31 bn) through IPO in 2023. It was already gearing up for an IPO and hired JP Morgan and ICICI Securities to run its books.
4. Go First
Fourth on our list is the Wadia Group's Go First (formerly Go Air), an ultra-low-cost carrier in India.
Founded in 2005, Go First carried over 80 m passengers across 39 destinations, including ten international destinations and comprises 57 aircraft.
It is one of the fastest-growing airline companies, with a market share of 10.8% in 2020. The company filed its DRHP in May 2021 and planned to launch its IPO in early 2022. However, the company delayed the IPO because of weak consumer sentiment around aviation stocks. Going forward, Go First aims to launch its IPO in 2023. The company plans to use the funds to repay its debt and other obligations.
5. Hosana Consumer Last on our list is a natural beauty and personal care company, Hosana Consumer, popularly known as Mamaearth.
Founded in 2016 as a baby care brand, Mamaearth is now a beauty and skincare brand which operates in India, South East Asia, and the Middle East. The company operates as an omnichannel brand and sells its products online and offline.
So far, Mamaearth has raised a total of US$111.6 mn ( ₹9.07 bn) in funding over eight rounds from investors such as Sequoia India, Stellaris Ventures, and Fireside Ventures.
The company announced its plans to raise US$300 m ( ₹24.39 bn) through IPO in 2023 and will soon draft its prospectus. It plans to use the funds to set up offline stores across the country.

OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23

OYO to refile updated draft IPO papers by mid February

OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23

Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month.
Earlier this month capital markets regulator Sebi had asked the company to refile the draft initial public offering (IPO) papers with certain updates.
<h3>OYO IPO</h3>
"We are working on updating all key sections simultaneously. Responsibilities have been divided among different teams, with senior company leaders driving the collaboration with the Book Running Lead Managers, essentially the IPO bankers, the lawyers and the auditors.
"We are keen on refiling the draft red herring prospectus (DRHP) by middle of February 2023, if not earlier," a company spokesperson said.
The company said Sebi in its letter had stated that "the disclosures contained in present DRHP do not take into account the material changes/disclosures arising from Updated financial statements as filed through addendums leading to revised period for disclosures which in turn leads to necessities to make material updates in Risk Factors, Basis of Offer Price, Outstanding Litigations and update other relevant sections of DRHP".
OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23.
The company had earlier indicated that the process of refiling the comprehensive document could take up to 2-3 months.
In September 2021, OYO had filed preliminary documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO.
The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation at around USD 7-8 billion instead of the USD 11 billion it was targeting initially.

Is Mamaearth IPO another Paytm in the making? 

Mamaearth&rsquo;s parent said it is looking to raise as much as Rs 2,400 crore through its IPO

Twitter users have been raising valuation concerns ever since Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth, filed papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The Sequoia- and Sofina-backed company's IPO will comprise of a fresh issue of shares worth 4 billion rupees ($48.30 million) and an offer for sale of 46.8 million shares.&nbsp;
In January 2022, Honasa Consumer raised $52 million at a valuation of $1.2 billion. One year later, the company is seeking a valuation of $3 billion through its IPO. The valuation target is more than 1,000x its profits, which has left the market perplexed. Mamaearth IPO has drawn comparisons with the Paytm IPO that turned out to be a dud on its listing date itself because of the massive asking price.&nbsp;

Several social media users have been expressing concerns over the high valuations of the Mamaearth IPO

Mamaearth valuation controversy: Co-founder clarifies

Several social media users have been expressing concerns over the high valuations of the Mamaearth IPO

Amid the controversy over inflated valuations of Mamaearth IPO, co-founder, Gazal Alagh issues a clarification. Several social media users have been expressing concerns over the high valuations of the Mamaearth IPO.&nbsp;
In response to these concerns, co-founder, Gazal Alagh, in a series of tweets clears the air. Alagh says that there was no mention of valuation in the DRHP, which is the standard practice. &lsquo;&rsquo;Valuation discovery is a process which will take place over time as we get into deeper conversations with investor community&rsquo;&rsquo;, she went on to say.
Reacting to the valuation numbers being talked about, she categorically denied them, saying &lsquo;&rsquo;Mamaearth has neither quoted nor subscribed to the valuation numbers that are doing the rounds on social media.&rsquo;&rsquo;Parent company Hanasa Consumer Ltd, is looking to raise around 2400 crore though the initial public offering.
The IPO will comprise of a fresh issue of shares worth $4 billion and an offer for sale of 46.8 million shares. The company was last valued at $1.2 billion in 2022 when it raised $52 million from investors including Sequoia and Sofina.

The public offer will open for bidders on 12th December 2022 and it will remain open till 14th December 2022

Sula Vineyards IPO opens: Should you subscribe it?

The public offer will open for bidders on 12th December 2022 and it will remain open till 14th December 2022

The initial public offer (IPO) of Sula Vineyards has hit the market and the public issue will remain open for bidding till 14th December 2022. India's largest wine producer and seller aims to raise ₹960.35 crore from its public offer and it is completely OFS (offer for sale) in nature. The company has fixed price band of the public issue at ₹340 to ₹357 apiece.
Meanwhile ahead of Sula Vineyards IPO subscription opening date, grey market is dropping positive signals in regard to the public offer. According to market observers, shares of Sula Vineyards Ltd are available at a premium of ₹34 in grey market.
A bidder will be able to apply for the IPO in lots and one lot will comprise 42 shares of the company. A bidder can apply for at least one lot whereas one retail investor can apply for maximum 13 lots of the IPO. The public issue is proposed for listing on BSE and NSE and tentative date for listing of company shares is 22nd December 2022.
&nbsp;

The company has not decided on any fresh timeline for the IPO

Snapdeal drops IPO plan, here's the reason 

The company has not decided on any fresh timeline for the IPO

Amid weak market conditions, e-commerce player Snapdeal has shelved its plan for IPO through which it was planning to issue fresh equity shares worth Rs 1,250 crore.&nbsp;
The company had earlier announced placing over 3 crore shares for an offer for sale under its IPO plan.
The company has not decided on any fresh timeline for the IPO.
When contacted, a Snapdeal spokesperson said: "Considering the prevailing market conditions, the company has decided to withdraw the DRHP. The company may reconsider an IPO in the future, depending on its need for growth capital and market conditions".
At the time of filing the draft paper with the Securities and Exchange Board of India (Sebi), market sources had indicated the company is looking at a valuation of over USD 1.5 to 1.7 billion.
Under the offer, Starfish I Pte, Wonderful Stars, Sequoia Capital, Kenneth Stuart Glass, Myriad Opportunities Master Fund, Ontario Teacher's Pension Plan Board, Laurent Amouyal and Milestone Trusteeship Services were selling their shares.
However, Snapdeal's founders Kunal Bahl and Rohit Bansal were not selling their holdings in the IPO.
Once a leading player in the Indian e-commerce space, Snapdeal has seen its fortunes falling amid strong competition from rivals Amazon and Flipkart.
In 2017, Snapdeal walked away from a potential merger deal with Flipkart and instead pursued what it called the 'Snapdeal 2.0' strategy to become "financially self-sustainable".
Snapdeal focuses exclusively on the value segment, with more than 90 per cent of the products sold on the platform priced below Rs 1,000 and more than 80 per cent of its users residing beyond the metro cities.

Sula Vineyards has been recognised as the market leader across wine variants, including red, white and sparkling wines

Winemaker Sula Vineyards gets SEBI's approval for IPO

Mumbai-based Sula Vineyards, the country's largest wine producer has received Sebi's approval to raise funds through IPO

Sula Vineyards IPO ahead

Sula Vineyards has been recognised as the market leader across wine variants, including red, white and sparkling wines

Mumbai-based Sula Vineyards, the country's largest wine producer has received Sebi's approval to raise funds through initial public offerings (IPOs).
The Nashik-based wine maker had filed the papers with the market regulator to raise capital via an IPO in July.
The equity shares offered under the OFS have a face value of ₹2 per equity share.
Sula Vineyards has been recognised as the market leader across wine variants, including red, white and sparkling wines.
Sula is headquartered in Nashik, 180km northeast of Mumbai, and has two manufacturing units, in Nashik and Bengaluru each. As of January, it had a production capacity of over 13 million litre, of which 11 million litre is housed in Nashik and 2 million litre in Karnataka.

Bikaji Foods IPO opens on November 3; check price band & other details

Bikaji Foods IPO opens on Nov 3; check price band & other details

Bikaji is one of India&rsquo;s largest fast-moving consumer goods brands with an international footprint, selling Indian snacks and sweets, and are among the fastest growing companies in the Indian organised snacks market

It seems like upcoming few days are going to be busy for dalal street as four IPOs are looking to cumulatively mop up Rs 4,120 crore from the market - making it the busiest week for IPOs this year in terms of number of deals launched. FMCG firm, Bikaji Foods International's three-day initial public offering will open for public subscription this week on November 3, 2022 and conclude on November 7, 2022. The company has fixed a price band of ₹ ₹285 to ₹300 per share for its initial share sale. As per market observers, Bikaji Foods shares are commanding a premium (GMP) of ₹76 in the grey market. The shares of the company are expected to list on leading stock exchanges BSE and NSE on November 16, 2022. Certain shareholders of the Rajasthan-based company as well as its promoters -- Shiv Ratan Agarwal and Deepak Agarwal-- will offload around 2.94 crore shares through the OFS route. Bikaji is one of India&rsquo;s largest fast-moving consumer goods brands with an international footprint, selling Indian snacks and sweets, and are among the fastest growing companies in the Indian organised snacks market.
About the company: Founder of Bikaji Foods International Shiv Ratan Agarwal is the grandson of Haldiram's founder Gangabishan Agarwal. Shiv Ratan Agarwal founded the company in 1986. It was originally incorporated as Shivdeep Industries Ltd. In 1993, the company's name was changed to Bikaji Foods.
Bikaji is one of India&rsquo;s largest fast-moving consumer goods brands with an international footprint, selling Indian snacks and sweets, and are among the fastest growing companies in the Indian organised snacks market. Its product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks and other snacks which primarily includes gift packs (assortment), frozen food, mathri range and cookies.

As travel-tech startup OYO Hotels reduces its losses and recovers from the pandemic, the company revives its plans to launch its initial public offering. 
According to reports, the SoftBank-backed company filed fresh financial documents with markets regulator Sebi as it aims for an early 2023 IPO launch.
 
 
OYO had filed for its draft IPO papers in 2021 with the Sebi, and had thereafter received an in-principle nod from BSE and NSE to launch the offer. The OYO IPO consisted of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore at the time. 
Founded by Ritesh Agarwal, the company operates in 800 cities in more than 80 countries of the world. The company started its international operations in 2018 starting with Malaysia. 

Oyo plans its IPO early 2023 but will investors take the risk? 

Oyo plans its IPO in early 2023 but will investors take the risk? 

This is not the first time Oyo is planning to make a stock market debut. OYO had filed for its draft IPO papers in 2021 as well.&nbsp;

As travel-tech startup, OYO Hotels reduces its losses and recovers from the pandemic, the company revives its plan to launch its initial public offering.
According to reports, the SoftBank-backed company filed fresh financial documents with markets regulator Sebi as it aims for an early 2023 IPO launch.
But will investors take the risk?&nbsp;
Following the disastrous IPOs in the current year including financial firm Paytm, as well as the thrashing experienced by e-commerce companies Zomato and Nykaa, investors have soured on new digital offerings.
Concerns among public market investors are rising. Many analysts feel that some IPOs fail because they may have been priced aggressively, though the share performance also depends on various other parameters including industry outlook, quality of business and management.
Earlier IPO plans&nbsp;
This is not the first time Oyo founder Ritesh Agarwal is planning to make a stock market debut. Prior to this, the hospitality services platform had to shelve its IPO plans earlier this year as the travel industry took a hit due to covid-related restrictions.
Founded by Ritesh Agarwal, the company operates in 800 cities in more than 80 countries of the world. The company started its international operations in 2018 starting with Malaysia.&nbsp;

Days after hotel aggregator unicorn OYO filed fresh financial documents with the Securities and Exchange Board of India (Sebi) for its IPO, SoftBank cuts the internal valuation of Ritesh Agarwal-run Oyo to $2.7 billion. 
SoftBank is the largest shareholder and holds nearly 47% stake in OYO. 
The Bloomberg report also said that the hospitality giant is expecting an approval from the Securities and Exchange Board of India soon for its much-awaited public debut, and the startup is eyeing a valuation of $5 Bn for its initial public offering (IPO) early next year. 
The lodging firm had reached a valuation of $10 billion in a 2019 funding round.
According to a report, Oyo in a statement said that it was confident that its valuation shouldn’t have market down given its recovering business performance.
 

SoftBank cuts valuation of IPO-bound OYO to $2.3 bn 

<div class="abstract-item-text__d2d4dde8">Oyo is eyeing a public market debut in early 2023</div>

Days after hotel aggregator unicorn OYO filed fresh financial documents with the Securities and Exchange Board of India (Sebi) for its IPO, SoftBank cuts the internal valuation of Ritesh Agarwal-firm to $2.7 billion.&nbsp;
SoftBank is the largest shareholder and holds nearly 47% stake in OYO.&nbsp;
The Bloomberg report also said that the hospitality giant is expecting an approval from the Securities and Exchange Board of India soon for its much-awaited public debut, and the startup is eyeing a valuation of $5 Bn for its initial public offering (IPO) early next year.&nbsp;
According to a report, Oyo in a statement said that it was confident that its valuation shouldn&rsquo;t have market down given its recovering business performance.
The lodging firm had reached a valuation of $10 billion in a 2019 funding round.
Meanwhile, Oyo&rsquo;s deliberations about its IPO aren&rsquo;t final and its plans could still change, depending on market conditions.

About the IssueDates: Sep 14-16IPO Price: ₹314-330Minimum Lot: 45 equity shareGrey Market Premium* (as per reports): ₹ 140-150
Harsha Engineering was founded by Rajendra Shah and Harish Rangwala in 1986, and is the largest manufacturer of precision bearing cages, in terms of revenue in organised sector in India.
 
 
 

Harsha Engineers IPO: here's you need to know everything 

Company offers a diverse suite of precision engineering products across geographies and end-user industries, including automotive, aviation and aerospace, railways, construction, mining, renewable energy, agriculture and other industrial sectors.

In it's second attempt to go public, Ahmedabad-based Harsha Engineers is set to open on September 14. Here is everything you need to know about the IPO :
About the Issue&nbsp; Dates: Sep 14-16 IPO Price: ₹314-330 Minimum Lot: 45 equity share Grey Market Premium* (as per reports): ₹&nbsp;140-150
The company plans to raise Rs 755 crore through this IPO.&nbsp;
Harsha Engineering has reserved 50 per cent of the offer for qualified institutional buyers (QIB), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. The offer also includes a reservation for subscription by eligible employees.&nbsp;
The company&rsquo;s business comprises two segments &ndash; engineering business and solar EPC business. Harsha Engineering was founded by Rajendra Shah and Harish Rangwala in 1986, and is the largest manufacturer of precision bearing cages, in terms of revenue in organised sector in India.
The company is a part of the Harsha Group. It supplies its products to customers in over 25 countries covering five continents i.e., North America, Europe, Asia, South America and Africa.

Virat Kohli-backed Insurtech unicorn Digit Insurance has filed its DRHP for an initial public offer as early as Diwali this year. According to reports, the IPO is likely to open after October 2022, in which shareholders will sell up to 109.4 million 

Virat Kohli-backed Digit Insurance files for Rs 1,250Cr IPO

Canadian billionaire Prem Watsa and Virat Kohli are backing this IPO set to for a Diwali open

Virat Kohli backed Digit Insurance files for IPO

Digit Insurance would be eligible for going public post-October 2022

Virat Kohli-backed Insurtech unicorn Digit Insurance has filed its DRHP for an initial public offer as early as Diwali this year. According to reports, the IPO is likely to open after October 2022, in which shareholders will sell up to 109.4 million shares.&nbsp; The regulator Insurance Regulatory and Development Authority (IRDAI) mandates insurtech companies to be at least five years old before going public.
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The public offer makes Digit Insurance the second insurtech startup to go public after Policybazaar did so last year.
<h3>About Digit Insurance&nbsp;</h3>
Founde by Kamesh Goyal in 2017, the Bengaluru-based Digit Insurance began its journey to sell primarily motor and travel and property insurance.
<a href="https://www.editorji.com/sports-news/cricket/asia-cup-2022-virat-kohli-starts-training-for-the-multi-nation-tournament-after-a-month-s-break-1660383038718">Asia Cup 2022: Virat Kohli starts training for the multi-nation tournament after a month's break</a> Currently, Go Digit Infoworks holds a majority stake in Digit Insurance. Shareholders of Go Digit Infoworks include Kamesh Goyal, Oben Ventures (Kamesh+Sameer Bakshi&rsquo;s company), and FAL Corporation (part of Prem Watsa's Fairfax Holdings).

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