Nuvama Investment Banking acted as the Left Lead Book Running Lead Manager to the INR 6,860 mn IPO of Flair Pens Limited

Deal Details

  • First Pure Play Writing Instruments IPO in the last 2 decades
  • Flair successfully completed Pre-IPO placements# to marquee Domestic Long Only Investorsat the IPO Price
  • Deal saw strong participation across investor categories garnering more than INR 20,000 crs
    • QIB^ – ~122x, HNI – ~35x, Retail – ~13x

Contribution

  • As the left-lead banker, hand-held the Company in end-to-end execution, swift regulatory approvals, thereby ensuring timely launch
  • Nuvama played a central role in the IPO by bringing key cornerstone investors completely driving the momentum of the issue
  • Garnered participation from a diverse investor set including LO FIIs, Mutual Funds and marquee DII investors
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 15 lakh+ applications

Nuvama Investment Banking acted as the Left Lead Book Running Lead Manager to the INR 5,000 mn IPO of Gandhar Oil Refinery

Deal Details

  • Deal saw strong participation across investor categories garnering more than INR 23,000 crs
    • QIB* – ~129x, HNI – ~64x, Retail – ~29x
  • Company saw stellar IPO Listing with equity shares opening at 76%# premiumandwas amongst the Top 5 IPOs^ in terms of listing day gains in CY 2023 showcasing investor confidence in Company’s business and management team

Contribution

  • As the left-lead banker, hand-held the Company in end-to-end execution, swift regulatory approvals, thereby ensuring timely launch
  • Nuvama played a central role in the IPO by bringing key cornerstone investors completelydriving the momentum of the issue
  • Dominated procurement in the Anchor in a 2 bank syndicate – Highest overall share of ~66%in terms of amount procured and 62%in terms of number of anchor investors converted
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 28 lakh+ applications

Nuvama Investment Banking acted as the Book Running Lead Manager to the INR 4,630 mn IPO of ESAF Small Finance Bank

Deal Details

  • Deal saw strong participation across investor categories garnering more than INR 25,000 crs
    • QIB – ~182x, HNI – ~88x, Retail – ~17x
    • Highest QIB subscribed IPO amongst all the SFB IPOs till date
  • Company saw stellar IPO Listing with equity shares opening at 18.3%# premium showcasing investor confidence in Company’s business and management team

Contribution

  • Nuvama played a central role in the IPO by bringing key cornerstone investors completely driving the momentum of the issue as well as guiding the management on entire process, deal contours & timing
  • Dominated procurement in the Anchor in a 3 bank syndicate – Highest overall share of ~54% share in terms of amount procured and 45% in terms of number of anchor investors converted
  • Nuvama garnered participation from a diverse investor set including ‘Long Only’ FII, IC and Family Offices
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 16 lakh+ applications

Nuvama Investment Bank has successfully closed the IPO transaction for Sai Silks (Kalamandir) Limited

Deal Details:

  • Sai Silks is amongst the Top 10 retailers of ethnic apparel, particularly sarees, in south India
  • Deal saw participation from high quality investors with 95%+ of the Anchor Book allocated to Mutual Funds, Long Only DIIs and FIIs
  • IPO Performance was testament to the unmatched brand quality of Sai Silks;
    • Despite market volatility during issue period week with correction of ~2.3%@ and multiple competing issues, IPO got a very strong demand garnering more than INR 41,200 MN
    • The Company started on positive note in the equity markets, with equity shares closing at 10.3%# premium to the IPO price on Listing Day

Contribution:

  • Effectively positioned Sai Silks as a leading apparel retail brand in India with a scalable model which is well poised to leverage growth in the ethnic and value fashion apparel industry in India
  • Nuvama garnered participation from a diverse investor set including Marquee ‘Long Only’ DII, Mutual Fund and FIIs
  • Nuvama co-ordinated the entire post issue activities to ensure the smooth Listing of Sai Silks on 3rd working day post deal closure

Nuvama Investment Banking is a proud banker to Jupiter Hospitals in its continued journey to healthcare excellence.

Deal Details:

  • Jupiter Hospitals successfully completed a Pre-IPO placement to marquee long only Investors at the IPO Price
  • The IPO received an overwhelming response from investors to emerge as:
    • Highest subscribed Hospitals IPO
    • Amongst the Top 3 highest subscribed IPOs in the past 2 years
  • IPO saw a stellar listing with stock price closing at 46% premium to issue price#

Contribution:

  • Effectively positioned Jupiter Hospitals as a key Multi Specialty hospital chain in Western India with a distinguished business model and a ‘patient first’ ideology
  • Nuvama garnered participation from a diverse investor set including Global Sovereign Funds, LO Flls, Mutual Funds, Insurance Companies
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in overall 13 lakh+ applications

About:

  • Jupiter Lite Line Hospitals Ltd Is a key tertiary and quaternary healthcare chain in the Mumbai Metropolitan Area (MMR) and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023@.

Nuvama Investment Banking acted as the Book Running Lead Manager to the INR 10,300 mn IPO of TVS Supply Chain Solutions

Deal Details:

  • First TVS Group Company IPO to hit the market after nearly three decades
  • IPO of the Largest and Fastest growing integrated supply chain solutions company in India^
  • TVS SCS successfully completed a Pre-IPO placement and the IPO received a strong response from investors, reflecting TVS SCS’ ability as a global integrated supply chain solutions company

Contribution:

  • Effectively positioned TVS SCS as a Resilient Business with a Technological Moat and Long term and Stable revenues from marquee Indian & global customers
  • Nuvama garnered participation from a diverse investor set including Marquee ‘Long Only’ DII and FII investors
  • Highest number of investors converted in anchor book
  • TPushed the TVS SCS story aggressively through our distribution channel to garner strong interest in HNI and Retail category

About:

  • TVS Supply Chain Solutions Ltd. is an Indian supply chain logistics solution provider that has global capabilities and network across the value chain with cross deployment abilities.

Left-Lead Book Running Lead Manager to the IPO of Inox Green Energy Services Limited

I] TRANSACTION SYNOPSIS

IPO Size ~₹7,400 MN
IPO Structure (Primary / OFS) 50% / 50%
Post Issue Dilution ~39.00%
IPO Price ₹ 65
Total number of applications* 1,90,997

II] SELECT ANCHOR INVESTORS AND ANCHOR BOOK

  • ENAM
  • ICICI Prudential MF
  • HDFC MF
  • Birla MF
  • MK Ventures
  • Edelweiss Crossover
  • Driehaus

III] DEAL HIGHLIGHTS

  • Inox Green Energy Services Limited, the only pure play wind power O&M service provider within India to go public
  • We emerged as the ‘Banker of Choice’, being the only common BRLM for both the IPOs launched by the Inox GFL Group in the last decade, demonstrating our philosophy of “Invested in YOU”
    • April 2015 – Inox Wind IPO
    • November 2022 – Inox Green IPO
  • We navigated the Company through critical regulatory nuances and several intricacies providing complete handholding to management team

*Excluding anchor subscription and after technical rejections

Book Running Lead Manager to the IPO of Five-Star Business Finance Limited

I] TRANSACTION SYNOPSIS

IPO Size ~₹ 15,885 MN
IPO Structure (Primary / OFS) – / 100%
Post Issue Dilution ~11.50%
IPO Price ₹ 474

II] SELECT ANCHOR INVESTORS AND ANCHOR BOOK

  • Capital Research
  • Fidelity
  • ENAM
  • ADIA
  • Norges Bank
  • HDFC MF
  • WhiteOak
  • SBI Life Insurance
  • Carmignac Gestion

III] DEAL HIGHLIGHTS

  • With Five-Star’s IPO, we have successfully closed all ₹ 15,000 mn+ IPOs of all private lending companies in last 4 years
  • We were the only Bank to successfully close 2 Pre-IPO transactions and generate deal momentum – Highest share in the 2 Pre-IPO transactions with a ~76% share out of ~₹ 4,000 mn raised
  • Spearheaded procurement in the Pre-IPO and Anchor Segment – Highest overall share of ~51% share in terms of amount and Highest number of investors converted (9/19)
  • Dominated procurement in the Main Book of the IPO – Procured overall largest QIB Bid & largest MF Bid
  • Despite muted subscription and market volatility over past 2 weeks and correction of ~3%@, Five-Star’s IPO saw a steady listing with stock price seeing days high of ~8% and closing at ~5% above opening price^

^NSE Prices are considered; @ Movement of Nifty 50 between 2 weeks high and low

Left-Lead Book Running Lead Manager to the IPO of DCX Systems Limited

I] TRANSACTION SYNOPSIS

IPO Size ~₹ 5,000 MN
IPO Structure (Primary / OFS) 80% / 20%
Post Issue Dilution ~24.97%
IPO Price ₹ 207
Subscription (QIB / HNI / Retail)* 90.9x / 46.1x / 63.7x
Total number of applications* 17,92,850

II] SELECT ANCHOR INVESTORS AND ANCHOR BOOK

  • ENAM
  • Factorial
  • HDFC MF
  • Millennium
  • Motilal Oswal MF + AIF
  • MK Ventures
  • Theleme Partners

III] DEAL HIGHLIGHTS

  • DCX Systems Ltd, a preferred Indian Offset Partner for foreign OEMs for executing aerospace and defence manufacturing projects
  • 3rd highest subscribed IPO in CY2022 – Strong subscriptions across investor pools
  • Company listed at a premium of 38%^
  • Advised the Promoter in Pre-IPO stake Sale
  • We was the left-lead banker to the issue and hand-held the management to ensure quick closure within 10 months from kick-off

For further details, please refer to: www.edelweissfin.com
*Excluding anchor subscription & after technical rejections
^NSE Opening Price is considered

Book Running Lead Manager to the IPO of Vedant Fashions Limited

I] TRANSACTION SYNOPSIS

IPO Size ~ ₹ 31,500 MN
IPO Structure (Primary / OFS) – / 100%
Post Issue Dilution ~ 15.0%
IPO Price ₹ 866
Subscription (QIB / HNI / Retail)* 2.9x / 0.8x / 0.2x
Total number of applications* 93,672

II] SELECT ANCHOR INVESTORS AND ANCHOR BOOK

  • Axis MF
  • Birla MF + Offshore
  • Fidelity
  • Govt. of Singapore
  • ICICI Prudential MF + Life
  • Kotak MF + Life + Offshore
  • Nomura
  • SBI MF
  • Wellington

III] DEAL HIGHLIGHTS

  • IPO of largest company in India in the men’s Indian wedding and celebration wear segment^
  • Despite market volatility over past 2 weeks and correction of ~6%@, Company listed at a premium of 8.0%#
  • We provided end-to-end client handholding and guidance on various deal contours and timing

*Excluding anchor subscription & after technical rejections ; ^ in terms of revenue, OPBDIT and profit after tax for the Financial Year 2020
# NSE Opening Price is considered @ Movement of Nifty 50 between 2 weeks high and low