Sebi’s IPO nod to Cult.fit, Eswari Global Metal, Sohan Lal Commodity
The Securities and Exchange Board of India (Sebi) approved four initial public offerings (IPOs) during the week ended Friday, October 16, according to its latest filing. The issues comprise a pre-filing by Sohan Lal Commodity Management, managed by Pantomath Capital Advisors; fresh issue-cum-OFS offerings by Eswari Global Metal Industries
(DAM Capital Advisors), Cult.fit (Axis Capital); and an OFS-only issue by Indian Gas Exchange (IGX).
Fusion CX IPO booked 4.45x on final day
The initial public offering (IPO) of AI-powered customer experience solutions provider Fusion CX received 4.45 times subscription on the final day of bidding on Friday. The ~702 crore IPO got bids for 6,24,64,035 shares against 1,40,40,000 shares on offer, according to data available with the NSE. The category for retail investors was subscribed 5.70 times, while the quota for non-institutional investors garnered 4.50 times subscription.PTI
Zetwerk IPO subscribed 31% on Day 2
The initial public offering (IPO) of Zetwerk Manufacturing was subscribed 31 per cent on the second day of bidding on Friday. The company’s ~5,012 crore IPO received bids for 5,74,99,200 shares against 18,50,66,845 shares on offer, as per data available with the NSE. The quota for qualified institutional buyers (QIBs) received 37 per cent subscription, while the category for retail investors was subscribed 35 per cent. PTI
Zetwerk Manufacturing Businesses Ltd on Wednesday raised Rs 2,251.23 crore from anchor investors, including BlackRock, Goldman Sachs, and Nomura.
The company allotted 14.91 crore equity shares to 99 funds at Rs 151 apiece, the upper end of the price band, according to a circular uploaded on the BSE website.
Apart from BlackRock, Goldman Sachs, and Nomura, the anchor book saw participation from global investors, including Capital Group and First Sentier Investors, along with sovereign wealth funds such as Norway’s Government Pension Fund Global and Abu Dhabi Investment Authority (ADIA).
Marquee global institutional investors, including Capital World and Capital Research, and former HDFC Mutual Fund CIO Prashant Jain’s fund 3P India also participated in the anchor allocation.
Domestic mutual funds, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Mirae Asset Mutual Fund, also participated in the anchor allocation. Several insurance companies, including SBI Life Insurance and ICICI Prudential Life Insurance, were among the investors.
