
The Rs 9,375-crore IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer-for-sale to the tune of Rs 375 crore by Info Edge

The brokerage likes Axis Bank, State Bank of India, HDFC Bank and Federal Bank in the banking space

Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives and general corporate purposes

Metropolis, since the 3rd/4th week of April 2021, has been trying to conclude the said transaction with the sellers under the SPA

Latest shareholding data of the company showed that Jhunjhunwala held 1,51,25,000 shares, or 1.61%, stake in the company as of June 30

Tanla recently acquired Karix, the market leader in the Indian CPaaS space, and marketing automation company Gamooga.

The IPO proceeds are to be utilised for organic growth, merger and acquisition and other general corporate purposes

GR Infraprojects IPO: Shares of the company are proposed to be listed on BSE and NSE
The stock is trading at a reasonable valuation of 21 times and 18 times its FY2022E and FY2023E earnings

The key reason for the exit from Sterling Tools is deterioration in its accounting score under the Marcellus’ proprietary forensic accounting model