119211What problems are there with recycled mobile numbers?
Although company’s revenues are increasing and its operating cash flows are positive but company is in loss.
Two IPOs have opened up for subscription today. Let’s have a look at them
First IPO is Signature Global India. It is real estate company that develops affordable and mid segment houses. The company’s end users are salaried employees that would buy the houses. It feels the market of these segments in NCR region is quite attractive hence it is focusing specifically in NCR region. Although the company’s revenues are increasing and its operating cash flows are positive but company is in loss. As per the management, the company is in growing stage and accounting policies are the major reason for the loss.
The IPO will remain open from 20th Semptember to 22nd September. Its price band is Rs 366 to Rs 385 per share. The company is looking to raise Rs 730 crore from IPO and out of it Rs 603 crore is fresh issue. On first day it got subscribed 26% by the time of writing this story. Its GMP is Rs 34 per share which implies listing at 8.83% premium. The shareholding of promoters will decline from 78.36% to 69.63% after IPO. The objective of IPO is debt repayment, giving funds to subsidiaries and also for inorganic growth.
Another IPO that opened today is Sai Silks. The IPO will remain open from 20th Semptember to 22nd September. It’s price band is Rs 210 to Rs 222 per share. The company is looking to raise Rs 1,201 crore from IPO and out of it Rs 600 crore is fresh issue. On the first day it got subscribed 6% by the time of writing this story. Its GMP is Rs 7 per share which 3.15%. The shareholding of management will decline from 95.23% to 60.8% after IPO. The objective of IPO is capital expenditures and working capital requirement. The company is in the business of Ethnic Clothing wear.