Three IPOs open on 9 September
Karamtara Engineering, Manipal Payment and Identity Solutions and Rentomojo all open Wednesday and close Friday. The shape of the three offers differs sharply in how much money reaches the companies.
Bizmudra Desk
Manipal Payment and Identity Solutions IPO opens 9 September at INR 322 to 339 a share
The card manufacturer, which says it makes over a third of India's credit cards, is raising INR 320 crore in fresh issue alongside an offer for sale by promoter Manipal Technologies.
Moglix's Credlix crosses USD 1 billion in MSME export financing
The Moglix-owned trade finance platform has financed USD 1 billion of exports for over 1,000 MSMEs, and has committed USD 100 million to the India-Mexico corridor this financial year.
Chef Harpal Singh Sokhi invests in Indo-Chinese food brand Inchi
The chef has taken a stake in Navi Mumbai's Melting Pot Food Products alongside a brand ambassador role. The company is targeting over INR 500 crore in five years. Terms were not disclosed.
Kia enters premium three-row SUVs with Sorento, hybrid from INR 29.99 lakh
The locally built Sorento is Kia's first hybrid in India, priced from INR 27.99 lakh for the diesel and INR 29.99 lakh for the hybrid, both introductory. Deliveries start today.
Rentomojo IPO opens 9 September at INR 384 to 404 a share
The rental platform's offer comprises INR 150 crore of fresh issue and an offer for sale of 27.4 million shares. Proceeds will partly repay borrowings and fund warehouse lease rentals.
Karamtara Engineering IPO opens 9 September at INR 241 to 254 a share
The offer totals up to INR 875 crore, comprising INR 675 crore of fresh issue and INR 200 crore of offer for sale, and closes on 11 September.