Popular Vehicles & Services Ltd.

Deal Details

  • IPO of leading Company in the business of automobile dealership
  • Deal saw participation across investor categories and was fully subscribed despite 7.7%* correction in Small Cap stocks

Nuvama Contribution

  • Nuvama played a central role in the IPO by bringing key cornerstone investors driving the momentum of the issue
    • 41% share in QIB in terms of amount in a 3 bank syndicate
    • Procured the largest LO FII bid and 2 out of 3 largest bids in the Anchor Segment
  • As the Post-Issue banker hand-held the Company in end-to-end execution, swift approvals and post issue activities thereby ensuring timely smooth closure

Client Testimonial

“Contribution of Nuvama as our Banker in our IPO journey has been commendable. Their commitment, expert knowledge and professional approach were instrumental in completing the process smoothly. The entire team were extremely supportive and their regular updates, immediate responses, close coordination during road shows were extremely helpful .They played a pivotal role in building up both the anchor as well as our main book. We are immensely grateful for the association with Nuvama and would definitely recommend them to any organisation considering an IPO.”

Capital Small Finance Bank Limited

Deal Details & Contribution

  • IPO of the 1st Small Finance Bank established in India
  • Deal saw strong participation across investor categories despite multiple issues launched at the same time
    • QIB* – ~7x, HNI – ~4x, Retail – ~3x
  • As the left-lead and post-issue banker, hand-held the Company in end-to-end execution, swift regulatory approvals and post issue activities thereby ensuring timely launch and smooth closure
  • Nuvama played a central role in the IPO by bringing key cornerstone investors completely driving the momentum of the issue
    • 44% share in Anchor Segment in terms of amount
    • Procured the largest FII bid and 2 out of 3 largest bids in the Anchor Segment
  • With this transaction, Nuvama has successfully closed 6 Bank / NBFC ECM transactions in last 6 months
  • Nuvama continues to maintain its dominant position in SFB IPOs^ with a Market share of ~40% having closed 4 out of the 10 IPOs in the space

Client Testimonial

“Nuvama Team’s execution of our IPO is highly praiseworthy. Their strategic direction, careful planning and unwavering dedication were instrumental in ensuring the success of our offering. The expertise and professionalism they exhibited instilled confidence amongst all stakeholders. I wholeheartedly thank Nuvama Team and look forward for future collaborations with them.”

Medi Assist Healthcare Services Limited

Deal Details

  • First IPO of Third Party Administrator in India as well as Asia
  • Medi Assist successfully completed Secondary Pre-IPO placement of ~INR 535 crs at the IPO Price taking care of any immediate liquidity event
  • Deal saw strong participation across investor categories garnering more than INR 13,000 crs
    • QIB – ~42x, HNI – ~15x, Retail – ~3x*
  • 100% anchor book was allocated to LO investors
  • Company saw stellar IPO Listing with equity shares opening at 11.2%# premium showcasing investor confidence in Company’s business and management team

Nuvama Contribution

  • Adding to our strong track record of bringing several 1st business stories to the Indian capital markets, Nuvama played a key role in the IPO by bringing key marquee LO investors driving the momentum of the issue and setting pricing benchmark
  • Nuvama led the Secondary Pre-IPO placement – Procured Largest bid of ~INR 175 Crs from a marquee LO FII investor
  • Nuvama garnered anchor participation from a diverse investor set including ‘Long Only’ FIIs, Mutual Fund and Insurance Company – testimony to having customers investing in the Company itself
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 7 lakh+ applications

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