Latest news with #KotakMahindraCapital
Business Upturn
6 days ago
- Business
- Business Upturn
Biocon shares in focus as company reportedly plans to launch QIP to raise up to Rs 4,500 crore
Biocon shares are in focus after the company is reportedly preparing to launch a Qualified Institutional Placement (QIP) to raise as much as ₹4,500 crore, possibly as early as this week, according to a Moneycontrol report. Sources familiar with the development told Moneycontrol that the deal has been in the works for some time and may be launched imminently. The planned capital raise is aimed at reducing the company's debt and improving its overall financial health. The report also states that leading investment banks — Kotak Mahindra Capital, Goldman Sachs, and BofA Securities — are advising Biocon on the QIP. The company is expected to use the proceeds to bolster its balance sheet and enhance operational flexibility as it looks to strengthen its biosimilars and research services businesses. Biocon shares opened at ₹358.30 and touched a high of ₹359.05 during the session, while the low stood at ₹348.25. The stock is trading closer to its 52-week high of ₹404.70, while the 52-week low is ₹291.00. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
03-06-2025
- Business
- Time of India
Aequs files IPO papers via confidential filing route; seeks to raise up to $200 million
Aequs, a contract manufacturing firm for consumer durable goods and aerospace parts, has filed draft papers with the markets regulator Sebi through a confidential pre-filing route , with an aim to raise around USD 200 million. The offer will comprise both a fresh issue of equity shares and an Offer For Sale (OFS) component. In a pubic announcement on Tuesday, Aequs said it has pre-filed a Draft Red Herring Prospectus (DRHP) for an IPO on a confidential basis with the stock markets regulator Sebi and stock exchanges. Accordingly to people familiar with the development, the company is planning to launch an IPO worth USD 200 million. To manage the offering, the company has appointed Kotak Mahindra Capital, JM Financial and IIFL Capital. Live Events The board of directors of Aequs recently passed a resolution for approval to change its status from a private entity to a public company. Aequs had received significant equity infusion over the years from its promoters to scale up operations. Additionally, it has attracted global investors such as Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N R Narayana Murthy), Sparta Group and the investment office of Desh Deshpande. Aequs provides a fully vertically integrated, precision manufacturing ecosystem for the aerospace and consumer sectors. It runs manufacturing operations across three countries, India, France, and the USA, to provide supply chain efficiencies to its global customer base in multiple industry verticals. Further, it operates three manufacturing clusters (Belgavi, Hubballi & Koppal) in Karnataka. Founder and CEO Aravind Melligeri has decades of experience in the aerospace segment and has been the co-founder of Quest Global Engineering. On the financial front, the company's total income was around Rs 988 crore in FY24, and the total operating income was Rs 970 crore. Aequs has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the DRHP until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans. Earlier this month, Groww filed its IPO papers through the same route. In recent months, commerce enablement platform Shiprocket, Tata Capital, edtech unicorn PhysicsWallah and Imagine Marketing, the parent company of wearables brand boAt, also chose confidential filings. In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart floated their IPOs following similar filings. Online hotel aggregator OYO had used this route in 2023 but did not proceed with its IPO. Tata Play, formerly Tata Sky, was the first Indian company to utilise the confidential filing option in December 2022 and received Sebi's observation letter in April 2023, though it later withdrew from the public issue. Market experts note that the confidential pre-filing route offers companies greater flexibility and reduces the pressure to go public quickly. Unlike the traditional route, which requires companies to launch their IPOs within 12 months of receiving Sebi's approval, the pre-filing route extends this window to 18 months from the receipt of final comments. Additionally, firms can modify the primary issue size by up to 50 per cent until the updated DRHP stage. PTI
