Today's Tech Check- "IPO Sees 35% Subscription Boost, Honasa Boosts ESOP Pool, TBO Tek Faces 89 Lakh GST Demand Notice, Infibeam Avenues Sets Eyes on Rediff, Ola Electric IPO Draws Massive Interest"
Today's Tech Check- "IPO Sees 35% Subscription Boost, Honasa Boosts ESOP Pool, TBO Tek Faces 89 Lakh GST Demand Notice, Infibeam Avenues Sets Eyes on Rediff, Ola Electric IPO Draws Massive Interest"
2nd August, 2024
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1. “Ola Electric IPO Sees 35% Subscription Boost on Day One! What You Need to Know”
Ola Electric's IPO subscribed 35% on day one.
Retail investors lead with 1.57 times subscription.
Non-institutional investors subscribed 20%.
Employee portion oversubscribed 4.88 times.
IPO consists of a fresh issue and an OFS of 8.4 crore shares.
Bhavish Aggarwal offloading 37.9 million shares.
IPO valued at Rs 33,500 crore at upper price band.
Anchors allotted Rs 2,763 crore.
#crore
2. “Mamaearth's Parent Company, Honasa, Boosts ESOP Pool: Allots Over 390,000 Shares to Employees!”
Honasa Consumer (Mamaearth parent) expanded its ESOP pool by allocating 3,97,169 shares to employees.
The ESOPs are worth over INR 180.33 Cr at current stock prices.
Co-founders Varun and Ghazal Alagh have led Honasa's growth, establishing six beauty brands.
Honasa reported a consolidated net profit of INR 30.47 Cr in Q4 FY24 with revenue growth of 21%.
The company recently acquired CosmoGenesis Labs to strengthen R&D and manufacturing capabilities.
#News#employee#manufacturing#manufacturing#B2C#company#stock
3. “Breaking News: TBO Tek Faces 89 Lakh GST Demand Notice - What You Need to Know”
TBO Tek has received an INR 89 lakh GST demand notice for financial year 2017-18.
The notice cites a mismatch in tax filings between GSTR-1 and GSTR-3B.
The demand includes payment of differential tax, interest, and penalty.
TBO Tek recently listed on the stock exchange, with a strong entry on May 15.
The company has appointed Gerardo Del Rio as president of international business, aiming for global expansion.
TBO Tek reported strong financial results for 2024, with revenue and profit increases.
As of the close of trading today, TBO Tek's stock price on the NSE stood at INR 1,750.10.
#News#Internet#business#company#stock
4. “Infibeam Avenues Sets Eyes on Rediff.com, Plans To Shake Up Financial Services as a New Aggregator”
Infibeam Avenues acquires 54% stake in Rediff.com.
Integration of payment, cloud, and content services planned.
Vishal Mehta, Chairman of Infibeam, emphasizes synergies and growth potential.
Rediff.com, founded by Ajit Balakrishnan, provides news and enterprise email services.
Infibeam invests Rs 50 crore for 54% shareholding.
Acquisition expected to double Infibeam's revenue рост as it enters financial aggregation.
Rediff's audience and client base to support Infibeam's business growth.
#News#business#Article#crore#enterprise
5. “Ola Electric IPO Draws Massive Interest: 35% Subscribed on Day 1 with Employee Quota in High Demand!”
Ola Electric IPO subscribed 35% on Day 1.
Employee quota subscribed 4.8X, showing high interest from staff.
Retail investors bid for 1.57x shares offered.
Non-institutional investors' interest was muted with 20% subscription.
QIBs bid for a mere 1.44 lakh shares.
Anchor investors infused INR 2,763 Cr on Thursday.
#News#B2C
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