Hi-Green Carbon files draft papers for IPO; to list on NSE Emerge
Business | July 05, 2023 20:32 ISTThe Gujarat-based firm, which is into recycling of waste tyres, plans to offer up to 76 lakh equity shares through the book-building process.
The Gujarat-based firm, which is into recycling of waste tyres, plans to offer up to 76 lakh equity shares through the book-building process.
Investors' wealth climbed Rs 7,90,235.84 crore in five days of rally. The market capitalisation of BSE-listed firms also reached an all-time high of Rs 2,98,57,649. 38 crore on Tuesday.
The IPO has witnessed a significant jump in its Grey Market Premium (GMP), which currently stands at Rs 25 per share, indicating a positive market sentiment towards the issue.
Sensex opened up at 353.34 points and currently trading at 65,071.90, an all-time high.
The category for non-institutional investors received 2.97 times subscription, while the portion for Qualified Institutional Buyers (QIBs) was subscribed 1.74 times and Retail Individual Investors' (RIIs) 96 per cent.
The total size of the public issue is 22. 80 lakh shares. The IPO aims to raise Rs 54. 04 crore. The issue comprises of fresh issue of 14. 80 lakh equity shares amounting to Rs 35. 08 crore and an offer for sale (OFS) of up to 8 lakh shares worth Rs 18.96 crore.
From the Sensex pack, Power Grid, UltraTech Cement, HDFC Bank, Wipro, HDFC, Hindustan Unilever, Larsen & Toubro, Tech Mahindra, Bajaj Finserv, Titan, Tata Consultancy Services, and Reliance Industries were the major gainers.
The company with a market cap of Rs 3,500 crore is mainly involved in the business of transportation, logistics, construction, oil and lubricants, coal mining among others.
The 30-share BSE index zoomed 466.95 points or 0.74 percent to settle at a record closing high of 63,384.58. During the day, it rallied 602.73 points or 0.95 percent to 63,520.36.
QIP is a method wherein a firm issue shares to the public without going through regulatory compliance.
The shares were listed on the NSE SME platform and are currently trading at a premium of more than 40 per cent from the IPO issue price of Rs 76.
The decision to split the face value of shares was taken at a board meeting of the Delhi-based company on Thursday.
According to a regulatory filing dated May 24, Nomura Singapore's stake now stands at 1.28 per cent or 1,28,25,854 shares.
The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70.
The current face value of each share of the leading manufacturer of LED lights, solar panels and UVC disinfection products is Rs 2.
The stock closed at Rs 155.61 apiece on the listing day. The company commanded a market cap of Rs 159.09 crore as on the listing day.
As per the exchange, the company's net profit in FY23 skyrocketed 584 per cent to Rs 9.52 crore. In FY22, the same stood at Rs 1.39 crore.
Going by data, the stock in a two-year period has skyrocketed 271 per cent. In a three-year period, it has rallies a massive 492 per cent.
This comes close on the heels of the fund picking 55 lakh shares of the company earlier this month at an average price of Rs 2.45.
The company's revenue from operation during the quarter under review stood at Rs 83 crore, the maker of finished and semi-finished forged crankshafts and forged components said in a regulatory filing.
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