The stock market is booming, as new IPOs are entering the market. This will be another opportunity for investors now as Oyo’s IPO is expected to come soon.
Following the hefty listing of Zomato in July this year, several companies are planning to bring in an IPO. Paytm, backed by Berkshire Hathaway Inc., will also launch the issue in November this year. At the same time, private equity firm Nykaa is also preparing to bring in an IPO.
Oyo (Oyo Hotels and Rooms), a reputed startup company in India, may apply for an IPO next week. According to sources, the company plans to raise 1.2 billion, or about Rs 8,000 crore, through an IPO. Which will also include Offer for Sale (OFS) along with the new issue. However, there has been no official response from Oyo in this case.
The company thinks that this option will be useful to strengthen your business. This is because Soft Bank has a 46% stake in Oyo. In addition, the company has been in constant financial trouble for the past few months due to the Corona virus and lockdown. The company’s financial resources have been adversely affected by layoffs, cost cuts, persistent losses and a weakened economy around the world.
Ritesh Agarwal, the company’s founder and chief executive, said in July that Oyo had received 5 million dollar in funding from Microsoft Corporation last month. Kotak is an issue consultant for Mahindra Capital, JPMorgan and Citi Company.
Paras Defense IPO last day
Today was the last day of the Paras Defense IPO. This IPO will close today. As soon as the IPO of this defense company was launched, it was fully subscribed within minutes. Paras Defense has launched an IPO worth Rs 171 crore. Out of this, new issues worth Rs 140.6 crore have been issued and shares worth Rs 30 crore have been sold in Offer for Sale (OFS).
The issue price of the company is Rs 165-175. In the gray market, its premium was Rs 210. Accordingly, Paras Defense’s unlisted stake is trading at Rs 385 (175 + 210) in the gray market.