India News Get -BusinessUpcoming IPO Details Update; Vishal Mega Mart Mobikwik | Sai Life Sciences
The initial public offerings (IPOs) of Vishal Mega Mart Limited, One MobiKwik Systems Limited and Sai Life Sciences Limited will open on December 11. Retail investors will be able to bid for the three IPOs until December 13. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 18. Take us through the IPOs of the three companies one by one…
1) Vishal Mega Mart Limited
Vishal Mega Mart Limited aims to raise a total of ₹8,000 crore through its IPO. For this, the company’s existing investors are selling 1,025,641,025 shares worth ₹8,000 crore through an offer for sale i.e. OFS. Vishal Mega Mart is not even issuing a single new share for the IPO.
Retail investors can bid for up to 2,470 shares
Vishal Mega Mart has set the price range of this issue between ₹74 and ₹78. Individual investors can bid on at least one lot, i.e. 190 shares. If you apply for 1 lot as per the upper IPO price band of ₹78, then you will need to invest ₹14,820.
While retail investors can apply for a maximum of 13 lots, or 2470 shares. For this, investors will have to invest ₹192,660 as per the upper price band.
Vishal Mega Mart premium in gray market 16.67%
Before the IPO opened, the company’s shares had fetched a premium of 16.67 per cent, or ₹13 per share in the gray market. In such a situation, depending on the upper price range of ₹78, its quotation can be ₹91. However, this is only an estimate, as the listing price of a share is quite different from the gray market price.
The company has more than 600 stores in 391 cities.
Vishal Mega Mart was established in 2001. It is a hypermarket chain that sells products such as clothing, groceries, electronics, and home essentials. As of September 30, 2024, the company had more than 600 stores and 16,537 employees in 391 cities nationwide. Along with this, the company also sells its products through a mobile app and website.
2) A MobiKwik Systems Limited
One Mobikwik Systems Limited aims to raise a total of ₹572 crore through its IPO. For this, the company’s existing investors are selling 20,501,792 shares worth ₹572 crore through an offer for sale i.e. OFS. One MobiKwik Systems is not issuing new shares for the IPO.
Retail investors can bid for up to 689 shares
One MobiKwik Systems Limited has set the IPO price band at ₹265 to ₹279. Individual investors can bid on at least one lot, i.e. 53 shares. If you apply for 1 lot in the upper IPO price band of ₹279, then you will need to invest ₹14,787.
At the same time, retail investors can apply for a maximum of 13 lots, or 689 shares. For this, investors will have to invest ₹192,231 as per the upper price band.
The Fintech company Mobikwik was created in March 2008.
MobiKwik is a financial technology company founded in March 2008. The company offers a prepaid digital wallet and online payment service, through which customers can make other payments including mobile recharge, electricity bill and payment by credit card. The MobiKwik app also offers digital credit, investment and insurance products, expanding the platform’s usefulness for new and existing customers.
As of June 30, 2024, the company had 161.03 million registered users and 4.26 million merchants accepting online and offline payments.
3) Sai Life Sciences Limited
Sai Life Sciences Limited aims to raise a total of ₹3,042.62 crore through its IPO. For this, the company’s existing investors are selling 38,116,934 shares worth ₹2,092.62 crore through Offer for Sale i.e. OFS. At the same time, Sai Life Sciences is issuing 17,304,189 new shares worth ₹950 crore.
Retail investors can bid for up to 351 shares
Sai Life Sciences Limited has set the IPO price band at ₹522 to ₹549. Individual investors can bid on at least one lot, i.e. 27 shares. If you apply for 1 lot in the upper IPO price band of ₹549, then you will need to invest ₹14,823.
At the same time, retail investors can apply for a maximum of 13 lots, or 351 shares. For this, investors will have to invest ₹192,699 as per the upper price band.
Sai Life Sciences Limited was established in January 1999.
Sai Life Sciences Limited, established in January 1999, researches, develops and manufactures novel small molecule chemical entities. The company provides special services to global biotechnology companies and pharmaceutical companies.
What is IPO?
When a company issues its shares to the general public for the first time, it is called an initial public offering, i.e. an IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises funds by selling some shares to the public or issuing new shares. For this, the company brings an IPO.