Latest news with #IssueofCapitalandDisclosureRequirements
News18
17 hours ago
- Business
- News18
Sambhv Steel Tubes IPO To Open On June 25; Price Band Set At Rs 77-Rs 82, Issue Size At Rs 540 Crore
The GMP of the Sambhv Steel Tubes IPO currently stands at 9.76%, indicating mild listing gains. Sambhv Steel Tubes IPO: Sambhv Steel Tubes Ltd is set to launch its initial public offering (IPO) on Wednesday, June 25, 2025, with the public issue aiming to raise Rs 540 crore, according to the Red Herring Prospectus filed by the company. The IPO will remain be closed on Friday, June 27, while the anchor investor window will open on Tuesday, June 24. The IPO consists of a fresh issue of equity shares worth Rs 440 crore and an offer for sale (OFS) of Rs 100 crore by the company's promoter and promoter group shareholders. Sambhv Steel Tubes IPO: Price Band and Lot Size The price band has been fixed at Rs 77 to Rs 82 per equity share of face value Rs 10 each. Investors can bid for a minimum of 182 equity shares and in multiples thereof. A discount of Rs 4 per equity share is being offered to eligible employees bidding in the reserved employee portion. Sambhv Steel Tubes IPO GMP Today According to market observers, the GMP of the IPO currently stands at 9.76%, indicating mild listing gains. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Sambhv Steel Tubes IPO Proceeds As per the RHP, Sambhv Steel intends to use the net proceeds from the fresh issue primarily for pre-payment or scheduled repayment of certain outstanding borrowings, and the remaining amount will go towards general corporate purposes. Sambhv Steel Tubes IPO Listing and Lead Managers The equity shares will be listed on both the BSE and the National Stock Exchange (NSE) on July 2. Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers (BRLMs) to the issue. Category-Wise Allocation The IPO is being offered through the book-building process in line with SEBI's Issue of Capital and Disclosure Requirements (ICDR) Regulations: Not more than 50% of the net offer will be allocated to qualified institutional buyers (QIBs). Up to 60% of the QIB portion may be allocated to Anchor Investors, with one-third reserved for domestic mutual funds. A minimum of 15% is reserved for Non-Institutional Bidders (NIIs). At least 35% is reserved for retail investors. A portion of the shares is also reserved for eligible employees, who will benefit from the Rs 4 discount. Sambhv Steel Tubes is one of the key manufacturers of electric resistance welded (ERW) steel pipes and structural tubes (hollow section) in India in terms of installed capacity as of March 31, 2024. According to a Crisil report, the demand for domestic steel pipes and tubes is expected to have grown at a compound annual growth rate (CAGR) of 5-6 per cent to 12.50-13.50 million tonnes per annum (MTPA) in FY25 from 8.8 MTPA in FY19. The growth was led by government initiatives to augment urban structural infrastructure and to infuse investments in the oil and gas sector. Going forward, domestic steel pipe demand is projected to increase to 18.50-20.50 MTPA in FY29 at 8-9 per cent CAGR between FY25 and FY29 on a high base, the report added. tags : initial public offering (IPO) IPO Location : New Delhi, India, India First Published: June 20, 2025, 17:04 IST News business » ipo Sambhv Steel Tubes IPO To Open On June 25; Price Band Set At Rs 77-Rs 82, Issue Size At Rs 540 Crore
Economic Times
3 days ago
- Business
- Economic Times
Sebi relaxes Esop norms for IPO-bound startup founders
In a major relief to startup founders looking to go public, Sebi on Wednesday approved a proposal to allow them to retain employee stock options (ESOPs) granted at least one year prior to filing preliminary IPO papers. Under the existing regulations, promoters are ineligible to hold or be granted share-based benefits, including ESOPs. If they hold such share-based benefits at the time of filing of draft red herring prospectus (DRHP), they have been required to liquidate such benefits prior to the IPO. This provision has been found to be impacting founders classified as promoters at the time of filing of DRHP, Sebi chairman Tuhin Kanta Pandey said the board approved a proposal to "facilitate founders who received such benefits at least one year prior to the filing of DRHP with the board, to continue holding, and/or exercising such benefits even after being specified as the promoter/s and the company becoming a listed entity". These proposals are expected to assist public companies who intend to list after undertaking reverse flipping -- shifting the country of incorporation from a foreign jurisdiction to India. This was the second board meeting under the chairmanship of Pandey, who assumed office on March 1. Additionally, the Sebi board approved a to rationalise the content of the placement document of Qualified Institutions Placement (QIP) by prescribing only the relevant information regarding the in QIPs, the issuer is required to disclose the details in the placement document as prescribed under ICDR (Issue of Capital and Disclosure Requirements) disclosures are detailed in nature and preparing a lengthy placement document is a time-consuming exercise that results in duplication of information, which is already available in the public domain."The board approved amendments to ICDR Regulations for simplifying and streamlining the placement document for qualified institutional placement by listed entities," Sebi said, adding this builds on the simplification and streamlining undertaken for rights issues by listed proposal factors in the availability of information for listed entities in the public domain, and reduces or eliminates duplication of such information in the placement document. Making disclosures has also been enabled in a summarised and concise form. Such areas of disclosure being simplified include risk factors being specified in relation to the issue, the objects of the issue and the material risks (dispensing with generic risk factors being disclosed), providing a summary of financial position (dispensing provision of complete financial statements) and providing a summary of issuer's business and the industry in which it operates.
Time of India
3 days ago
- Business
- Time of India
Sebi relaxes Esop norms for IPO-bound startup founders
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads In a major relief to startup founders looking to go public, Sebi on Wednesday approved a proposal to allow them to retain employee stock options (ESOPs) granted at least one year prior to filing preliminary IPO the existing regulations, promoters are ineligible to hold or be granted share-based benefits, including ESOPs. If they hold such share-based benefits at the time of filing of draft red herring prospectus (DRHP), they have been required to liquidate such benefits prior to the provision has been found to be impacting founders classified as promoters at the time of filing of DRHP, Sebi chairman Tuhin Kanta Pandey said the board approved a proposal to "facilitate founders who received such benefits at least one year prior to the filing of DRHP with the board, to continue holding, and/or exercising such benefits even after being specified as the promoter/s and the company becoming a listed entity".These proposals are expected to assist public companies who intend to list after undertaking reverse flipping -- shifting the country of incorporation from a foreign jurisdiction to was the second board meeting under the chairmanship of Pandey, who assumed office on March the Sebi board approved a to rationalise the content of the placement document of Qualified Institutions Placement (QIP) by prescribing only the relevant information regarding the in QIPs, the issuer is required to disclose the details in the placement document as prescribed under ICDR (Issue of Capital and Disclosure Requirements) disclosures are detailed in nature and preparing a lengthy placement document is a time-consuming exercise that results in duplication of information, which is already available in the public domain."The board approved amendments to ICDR Regulations for simplifying and streamlining the placement document for qualified institutional placement by listed entities," Sebi said, adding this builds on the simplification and streamlining undertaken for rights issues by listed proposal factors in the availability of information for listed entities in the public domain, and reduces or eliminates duplication of such information in the placement document. Making disclosures has also been enabled in a summarised and concise areas of disclosure being simplified include risk factors being specified in relation to the issue, the objects of the issue and the material risks (dispensing with generic risk factors being disclosed), providing a summary of financial position (dispensing provision of complete financial statements) and providing a summary of issuer's business and the industry in which it operates.
Business Standard
13-06-2025
- Business
- Business Standard
Board of Dilip Buildcon approves allotment of 1.53 cr equity shares on conversion of warrants
At meeting held on 13 June 2025 The Board of Dilip Buildcon at its meeting held on 13 June 2025 has approved the allotment of 1,53,90,510 equity shares of the Company having face value of Rs. 10/- each against receipt of the balance subscription amount of Rs. 246.03 /- per warrant (i.e. 75% of the issue price), pursuant to the exercise and conversion of 1,53,90,510 convertible warrants in compliance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 (ICDR Regulations), and the terms of allotment of the warrants.
Time of India
11-06-2025
- Business
- Time of India
Delisting of CMRL is BSE's call, SEBI tells Kerala HC
Kochi: The Securities and Exchange Board of India (SEBI) has submitted an affidavit in high court stating that the shares of Cochin Minerals and Rutile Ltd (CMRL) are listed on Bombay Stock Exchange (BSE), and that it is for the BSE to examine issues related to the company's delisting in light of the allegations raised. The counter-affidavit, filed by SEBI general manager Nirmal Mehrotra, was in response to the public interest litigation (PIL) filed by senior journalist M R Ajayan, seeking a CBI probe into the financial transactions between CMRL and Exalogic Solutions Pvt Ltd. One of the prayers in the PIL is for a direction to SEBI to delist the shares of CMRL and to review whether the draft offer document was scrutinised properly to ensure transparency, adequate disclosures, and investor protection under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. In its affidavit, SEBI pointed out that the petitioner has not impleaded BSE Ltd as a respondent in the case. As such, the relief sought against SEBI regarding the delisting of CMRL shares cannot be granted.
