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<ul><li>If successful, <keyword id="8042633" type="UNKNOWN" weightage="20" keywordseo="sona-comstar">Sona Comstar</keyword>’s IPO would be the largest ever for an automotive component maker in India.</li><li>The Blackstone-backed company supplies highly engineered, mission critical automotive components to OEMs of companies like Ford Motors, Daimler, Tata Motors, Ashok Leyland among others.</li><li>The electric vehicle boom has also boosted Sona Comstar’s business, contributing 13% to the company’s topline.</li></ul>Sona Comstar, one of India’s leading automotive components makers, is gearing up to launch its ₹5,500 crore initial public offering (IPO) next week, according to media reports. The Gurugram-based company had filed its draft red herring prospectus (DRHP) in February this year, with plans to raise ₹6,000 crore from the IPO. But <a href="https://www.moneycontrol.com/news/trends/blackstone-backed-sona-comstar-may-launch-rs-5500-crore-ipo-next-week-biggest-ever-in-auto-components-segment-7005191.html">reports</a> suggest that the offering has been reduced to ₹5,500 crore. Sona Comstar is backed by US-based private equity giant Blackstone. Out of the ₹5,500 crore IPO, Blackstone Group affiliate Singapore VII Topco III would get ₹5,200 crore. The remaining ₹300 crore will be raised via a fresh issue of equity shares. If successful, the <keyword id="10809605" type="UNKNOWN" weightage="20" keywordseo="Sona-Comstar-IPO">Sona Comstar IPO</keyword> would be the largest IPO by an auto component maker in India’s corporate history. Also read: <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a> Reports suggest that the IPO could launch as soon as next week, when the markets are at an all-time high and investors would be interested in getting in a new company in its early days on the bourses. <div type="image" title="Sona Comstar IPO Revenue Profits." msid="83369725" hostid="261" caption="&amp;lt;p&amp;gt;Sona Comstar&amp;#39;s top and bottomline over the last four reporting periods&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Understanding Sona Comstar’s business" comment="subhead" text="Understanding Sona Comstar’s business">Understanding Sona Comstar’s business</cmsannotation> Sona Comstar is a supplier of highly engineered, mission critical automotive systems. It supplies components to original equipment manufacturers (OEM) of global auto giants like Ford Motors, Daimler and back home, to Tata Motors and Ashok Leyland, among others. The boom in the electric vehicle (EV) market around the world has boosted Sona Comstar’s prospects – 13% of its revenue is derived from supplies to the Battery EV segment. It has nine manufacturing and assembly plants located across India, China, USA and Mexico – six of those are in India. <a href="https://www.ibef.org/industry/auto-components-presentation">According</a> to the Automobile Component Manufacturers Association (ACMA), automotive component exports are expected to touch $80 billion by 2026. In FY20, exports stood at $14.5 billion. The industry’s turnover, on the other hand, is expected to touch $200 billion by 2026. It stood at $49 billion in FY20. <cmsannotation type="cmsannotation" annotationid="Here’s what Sona Comstar plans to do with its IPO proceeds" comment="subhead" text="Here’s what Sona Comstar plans to do with its IPO proceeds">Here’s what Sona Comstar plans to do with its IPO proceeds</cmsannotation> The company’s prospectus states that out of the ₹300 crore fresh issue, ₹225 crore will be used toward payment of certain borrowings, which will help reduce its cost of finance. The remaining ₹75 crore are earmarked for general corporate purposes, which includes capital expenditure, working capital requirements and marketing expenses, among other things. Sona Comstar also disclosed that it will not receive any proceeds from the ₹5,200 crore offer for sale. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/go-air-has-filed-for-a-3600-crore-ipo-at-a-very-desperate-time/articleshow/82626097.cms">Go Air has filed for a ₹3,600 crore IPO at a very desperate time</a> <a href="https://www.businessinsider.in/stock-market/news/pnb-housing-finance-shares-hit-upper-circuit-six-days-in-a-row-but-the-potential-upside-could-be-limited-now/articleshow/83305929.cms">PNB Housing Finance shares hit upper circuit six days in a row, but the potential upside could be limited now</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a>

Blackstone-backed Sona Comstar’s ₹5,500 crore IPO could open next week, reports suggest

<ul><li><keyword id="10809605" type="UNKNOWN" weightage="20" keywordseo="Sona-Comstar-IPO">Sona Comstar IPO</keyword> is now live and it will be open for subscription till June 16.</li><li>The total IPO size is ₹5,550 crore. The price band is fixed at ₹285-291, and each lot consists of 51 equity shares.</li><li>Analysts are bullish on Sona Comstar IPO, noting that even though it may be a rich valuation, it’s a growth story that is worth it.</li></ul>Sona Comstar, the Blackstone-backed automotive components maker, has kicked off its ₹5,550 crore initial public offering (IPO) today, with the price band fixed at ₹285-291 per share. It is the first of several IPOs launching in the next few weeks. The <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-would-be-the-largest-ever-for-an-automotive-component-maker-in-india/articleshow/83369745.cms">Sona Comstar IPO</a> will be open for subscription till June 16. Each lot consists of 51 shares, so each lot will be worth ₹14,841. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Share of issue reserved </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">75% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr></tbody></table> Sona Comstar is backed by US-based private equity giant Blackstone. Out of the ₹5,550 crore proceeds from the IPO, Blackstone Group affiliate Singapore VII Topco III would get ₹5,250 crore. The remaining ₹300 crore will be raised via a fresh issue of equity shares. If successful, the Sona Comstar IPO would be the largest IPO by an auto component maker in India’s corporate history. <div type="Article" hostid="261" msid="83369745" title="Blackstone-backed Sona Comstar’s ₹5,500 crore IPO could open next week, reports suggest" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Objects of the issue" comment="subhead" text="Objects of the issue">Objects of the issue</cmsannotation> The company’s prospectus states that out of the ₹300 crore fresh issue, ₹225 crore will be used toward payment of certain borrowings, which will help reduce its cost of finance. The remaining ₹75 crore are earmarked for general corporate purposes, which includes capital expenditure, working capital requirements and marketing expenses, among other things. <cmsannotation type="cmsannotation" annotationid="Here’s what analysts are saying" comment="subhead" text="Here’s what analysts are saying">Here’s what analysts are saying</cmsannotation> Analysts are bullish on Sona Comstar’s prospects. It has already raised nearly half of the issue from anchor investors, who have ploughed in ₹2,498 crore. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage/Analyst </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">LKP Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dilip Davda </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr></tbody></table> Although some analysts state that the valuation at a 74 price-to-earnings (PE) multiple is rich, they suggest the company is an “exciting” prospect. “Sona Comstar provides an exciting play on electrification and possesses healthy financial strength but valuations proposed are rich. Nevertheless, we believe the company offers a good investment case on the back of strong growth prospects. Accordingly, we recommend Subscribe only for the long term,” said ICICI Direct in its IPO note. Motilal Oswal, another analyst house, called Sona Comstar and the EV market an “emerging growth story”. “Though the valuation appears fully priced in, given its thrust in fast evolving EV space both in India and globally, the market would like to give premium to such emerging growth story. Hence, we recommend Subscribe for Long Term,” the firm said in its IPO note. <cmsannotation type="cmsannotation" annotationid="Here’s what Sona Comstar’s business is about" comment="subhead" text="Here’s what Sona Comstar’s business is about">Here’s what Sona Comstar’s business is about</cmsannotation> Sona Comstar is a supplier of highly engineered, mission critical automotive systems. It supplies components to original equipment manufacturers (OEM) of global auto giants like Ford Motors, Daimler and back home, to Tata Motors and Ashok Leyland, among others. The boom in the electric vehicle (EV) market around the world has boosted Sona Comstar’s prospects – 13% of its revenue is derived from supplies to the Battery EV segment. It has nine manufacturing and assembly plants located across India, China, USA and Mexico – six of those are in India. <a href="https://www.ibef.org/industry/auto-components-presentation">According</a> to the Automobile Component Manufacturers Association (ACMA), automotive component exports are expected to touch $80 billion by 2026. In FY20, exports stood at $14.5 billion. The industry’s turnover, on the other hand, is expected to touch $200 billion by 2026. It stood at $49 billion in FY20. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-would-be-the-largest-ever-for-an-automotive-component-maker-in-india/articleshow/83369745.cms">Blackstone-backed Sona Comstar’s ₹5,500 crore IPO could open next week, reports suggest</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a>

Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride

Easy Trip Planners, Macrotech Developers, Barbeque Nation among top 2021 IPOs that delivered up to 175% returns during the year

<ul><li>Shares of <keyword id="2177564" type="PERSON" weightage="20" keywordseo="Rolex-Rings">Rolex Rings</keyword> list at ₹1,249 while the shares were allotted at ₹900 per share.</li><li>The IPO was subscribed 130.44 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹3,263 crore.</li></ul>Shares of Rolex Rings made a strong listing on the National Stock Exchange (NSE) and BSE at over 38% premium over the issue price of ₹900 apiece. Post listing, the market capitalisation of the company stood at ₹3,263 crore ($439 million), according to BSE data. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other listed top auto parts makers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market capitalisation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motherson Sumi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹73,496 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹36,525 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precision Forgings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹25,693 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra CIE Automotive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,228 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ramkrishna Forgings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,053 </td></tr></tbody><tbody></tbody></table>The shares of Rolex Rings were trading at ₹1,192, higher by 32% at 10.02 a.m., on August 9. The grey market showed a strong listing for Rolex Rings a day prior to the listing with a 40-45% premium. Moreover, the IPO ⁠— open between July 28 and July 30 ⁠— was a hit among investors. It was subscribed 130.44 times on the last day of the bidding. The IPO has received bids for 74.1 crore equity shares against the IPO size of 56.85 lakh equity shares. The Rajkot-based company is a manufacturer and global supplier of forged and machined components for automobile makers. The offer from the company consisted of a fresh issue of ₹56 crore and an offer for sale (OFS) by private equity firm Rivendell PE of up to 75 lakh equity shares. The company will use the IPO proceeds to fund its long-term working capital requirements and for general corporate purposes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/cartrade-ipo-grey-market-premium-and-analysts-recommend-subscribe/articleshow/85169585.cms">CarTrade IPO ⁠— the share sale by this profitable tech startup gets a unanimous call for ‘subscribe’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/freshtohome-and-bluestone-backer-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management/articleshow/85161486.cms">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a><h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 28px; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"></h1>

Rolex Rings IPO investors make 38% at listing ⁠— the auto components maker is now worth nearly half a billion dollars

Market regulator <keyword id="35210" type="ORGANIZATION" weightage="100" keywordseo="sebi">Sebi</keyword> has eased curbs on 40 entities against whom it had taken action in two different cases of alleged misuse of stock market platform for tax evasion and suspected money-laundering, according to a news agency. 
 
The entities, which were barred from the securities market, have now been given certain relaxations, including permission to deal in government securities and invest in ETFs (exchange-traded funds). 
 Besides, they can enter delivery-based transactions in the cash segment in <keyword id="372424" type="ORGANIZATION" weightage="20" keywordseo="NSE-Nifty">NSE Nifty</keyword> 500 index as well as <keyword id="30287" type="CITY" weightage="20" keywordseo="SP">S&amp;P</keyword> BSE 500 shares and subscribe to mutual funds. 
 
Among others, these entities can tender shares lying in their demat account in any open offer/delisting under the relevant Sebi regulations. 
 In the case of <keyword id="1655250" type="UNKNOWN" weightage="20" keywordseo="Kailash-Auto-Finance">Kailash Auto Finance</keyword>, the watchdog in March had barred 246 entities after they were found to have indulged in a web of "make-believe" trades to artificially bump up share prices and trap gullible investors. Out of them, 36 have been given the relaxations. 
 
In a separate case involving Dhyana Finstock, Sebi had barred 76 entities in June. Now, relaxations have been extended to five of them. 
 "I deem it appropriate to provide relaxations so as to address the issues of the personal and business exigencies or other liquidity problems," Sebi Whole-time Member <keyword id="1067935" type="PERSON" weightage="20" keywordseo="Rajeev-Kumar-Agarwal">Rajeev Kumar Agarwal</keyword> said in the matter of Kailash Auto. 
 
As per the latest orders, the entities for whom relaxations have been extended can sell the securities lying in their demat accounts as on the date of interim orders. This will exclude shares of the companies which are suspended from trading by the stock exchanges concerned. 
 
Besides, sale proceeds lying in the escrow account can be used for certain purposes. 
 
In two separate orders, Sebi said, "Up to 25 per cent of the value of the portfolio as on the date of the interim order or the amount in excess of the profit made/loss incurred or value of shares purchased to give exit, whichever is higher, may be utilised for business purposes and/or for meeting any other exigencies or addressing liquidity problems etc.

Sebi goes lenient about
restrictions on 40 companies

<ul><li>KIMS is a Hyderabad-based company that operates multi-specialty hospitals in Telangana and Andhra Pradesh.</li><li>It has nine hospitals across the two states with an aggregate bed capacity of over 3,000.</li><li>It intends to use the proceeds of the IPO towards expanding its operations in adjacent areas like Bengaluru, Chennai, Bhubaneshwar and even Central India.</li></ul>The Hyderabad-based <keyword id="137580" type="ORGANIZATION" weightage="20" keywordseo="Krishna-Institute-of-Medical-Sciences">Krishna Institute of Medical Sciences</keyword> (KIMS) is banking on a bullish market to mop up ₹2,100 crore from its initial public offering (IPO), as it looks to pare its debt and become more agile. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue opens </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 16, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue closes </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 18, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹815-825 per share </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Market lot </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18 shares </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Minimum order value </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹14,850 </td></tr></tbody></table> The Hyderabad-based company filed its draft red herring prospectus (DRHP) in April this year, with plans to raise ₹200 crore from the IPO via a fresh issue of equity shares. In addition to this, the company’s existing investors, US equity giant General Atlantic and the promoters, will offer 21.3 million shares totaling to ₹1,950 crore. With over two decades of history, KIMS is one of the largest private hospital chains in Andhra Pradesh and Telangana. It currently operates nine multi-specialty hospitals under the KIMS Hospitals brand. Also read: <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a> In total, KIMS has a bed capacity of 3,064, out of which 2,500 were operational as of December 31, 2020. <div type="image" title="KIMS IPO Revenue Profits." msid="83426697" hostid="261" caption="&amp;lt;p&amp;gt;KIMS revenues and profits over the last four years&amp;lt;/p&amp;gt;"></div> According to an Axis Capital report, the 3-year compounded annual growth rate (CAGR) of KIMS is the best amongst major hospital players. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">CAGR (2017-2020) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">KIMS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudayalaya </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Manipal Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Healthcare Global </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr></tbody></table>Source: Axis Capital <cmsannotation type="cmsannotation" annotationid="Using the bullish equity market to pare its debt" comment="subhead" text="Using the bullish equity market to pare its debt">Using the bullish equity market to pare its debt</cmsannotation> The IPO proceeds worth INR 200 crore will go to the company. Of this, it intends to repay ₹150 crore worth borrowing. The remaining ₹50 crore will go towards general corporate purposes, which can include capital expenditure, partnerships, among other things. <cmsannotation type="cmsannotation" annotationid="Expansion plans get a shot in the arm" comment="subhead" text="Expansion plans get a shot in the arm">Expansion plans get a shot in the arm</cmsannotation> KIMS wants to ride the bull run in India’s equity markets to expand its operations to adjacent areas like Karnataka, Odisha, Tamil Nadu and even central India. Among these, Bengaluru and Chennai could be the next big markets for KIMS. Apart from this, the liquidity boost could help KIMS expand its bed capacity and healthcare equipment to augment its operations. <cmsannotation type="cmsannotation" annotationid="Revenue concentration remains a key area of concern for KIMS" comment="subhead" text="Revenue concentration remains a key area of concern for KIMS">Revenue concentration remains a key area of concern for KIMS</cmsannotation> The hospital’s two branches, namely KIMS Kondapur and KIMS Secunderabad – both located in Hyderabad – contribute nearly two-thirds to the total revenue of the company. A high concentration of revenue could hamper the company’s prospects if it cannot expand and diversify in a meaningful manner. <cmsannotation type="cmsannotation" annotationid="KIMS says COVID-19 had a noticeable adverse impact on its operations" comment="subhead" text="KIMS says COVID-19 had a noticeable adverse impact on its operations">KIMS says COVID-19 had a noticeable adverse impact on its operations</cmsannotation> Despite a surge in revenue and profit, KIMS says that the COVID-19 pandemic had an adverse impact on its operations. The company says that in March 2020 and more so in April 2020, it witnessed a substantial decline in in-patient and out-patient volumes. When compared to February 2020, its inpatient volumes fell by more than half in April 2020. It also notes that some patients were reluctant to visit hospitals due to a perceived notion of increased risk of infection. Heightened risk of its doctors, nurses and other healthcare workers, and a resulting increase in costs to ensure their safety also remains another area of concern for the company. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-would-be-the-largest-ever-for-an-automotive-component-maker-in-india/articleshow/83369745.cms">Blackstone-backed Sona Comstar’s ₹5,500 crore IPO could open next week, reports suggest</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-backed-paytm-pivots-to-a-3-billion-ipo-plan-a-year-into-the-pandemic-it-could-be-the-largest-market-debut-in-india/articleshow/83000446.cms">Softbank-backed Paytm fast tracks IPO plan a year into the pandemic ⁠— a $3 billion fundraising could be the biggest market debut in India</a>

KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations

<div class="KonaFilter image-container display-table float_right"><div><div class="image">REUTERS/Erik De CastroPolice take up positions behind anti-riot shields as protesters try to remove a police barricade while Philippine President Benigno Aquino delivers his fifth State of the Nation Address (SONA) during the joint session of the 16th Congress at the House of Representatives of the Philippines in Quezon city, Metro Manila.</div></div></div>Stocks closed the session mixed, but little changed, as some economic data reported this morning came in mixed, another wave of corporate earnings were reported, and the U.S. and EU announced sanctions against Russian companies.
First, the scoreboard:
<ul>
<li>Dow: 16,923.67, -58.9, (-0.4%)</li>
<li>S&amp;P 500: 1,970.85, -8.1, (-0.4%)</li>
<li>Nasdaq: 4,444.50, -0.2, (0%)</li>
</ul>
And now, the top stories on Tuesday:
1. The Conference Board's <a href="http://www.businessinsider.com/consumer-confidence-july-2014-2014-7">consumer confidence index</a> for July rose to 90.9 from 85.2 in June, the index's highest reading sicne October 2007. Economists were expected the index to come in at 85.4. Along with the report, the Conference Board's Lynn Franco said, "Strong job growth helped boost consumers' assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations. Recent improvements in consumer confidence, in particular expectations, suggest the recent strengthening in growth is likely to continue into the second half of this year."
2. On the housing front, the S&amp;P/Case-Shiller <a href="http://www.businessinsider.com/case-shiller-home-prices-may-2014-2014-7">home price index</a> fell 0.3% month-over-month in May, missing economists' expectations for a 0.3% gain. This was the index's first month-over-month decline since January 2012. On a year-over-year basis, prices rose 9.3%, also shy of the 9.9% that was expected. "The slowdown in price appears to be indicative of the weakening in housing activity more generally, particularly after the very slow start to the spring selling season," said TD Securities' Millan Mulraine.
3. Both the European Union, and later the U.S., announced round of economic sanctions against Russia, with the <a href="http://www.businessinsider.com/diplomats-eu-governments-are-going-after-russian-banks-over-ukraine-2014-7">EU's sanctions</a> marking the first action by the economic bloc against its eastern neighbor. The EU's sanctions included imposing sanctions on Russia's banking, technology, and arms sectors. The U.S.'s latest sanctions also targeted the same areas. BI's Brett LoGiurato has the <a href="http://www.businessinsider.com/obama-russian-sanctions-ukraine-statement-july-29-2014-7">full rundown here</a>. 
4. A number of major companies announced corporate earnings today, including shipping giant <a href="http://www.businessinsider.com/ups-q2-earnings-2014-7">UPS</a>, which saw shares fall more than 3% after its quarterly profit, and full-year earnings outlook, came in below expectations. Pharmaceutical giants Pfizer and Merck also reported earnings, with both companies reporting bottom-line profits that topped estimates on sales that declined over the prior year. 
5. Earnings are expected to continue rolling after the market close, with <a href="http://www.businessinsider.com/twitter-q2-earnings-2014-7">Twitter</a> expected to headline. Analysts are looking for Twitter to lost $0.01 per share and book revenue of $283.07 million. 
6. Windstream Holdings and Frontier Communications were the S&amp;P 500's biggest gainers after <a href="http://www.businessinsider.com/windstream-shares-explode-july-29-2014-7">Windstream announced</a> that it received a favorable ruling from the IRS to spin-off its fiber and copper network assets into a real estate investment trust, or REIT. Following the news, Timothy Horan, an analyst at Oppenheimer, said the announcement is positive for the whole communication infrastructure sector. Shares of Windstream gained nearly 14%, while Frontier gained 11%. 
7. Investors and market watchers are turning their attention to a busy day for economic data tomorrow, with the initial read on Q2 GDP expected at 8:30 am ET, and the results from the Federal Reserve's latest Federal Open Market Committee meeting expected at 2:00 pm ET. 
Don't Miss: <a href="http://www.businessinsider.com/corporate-debt-outstanding-2014-7">Corporate America Is Borrowing Like Crazy »</a>

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