The IPO is totally a proposal on the market (OFS) by promoter Kapur Household Belief, with no recent fairness issuance. All proceeds from the Rs 2,000 crore challenge will go to the promoting shareholder.
Anchor Traders and GMP
Forward of the general public challenge, the corporate raised Rs 599 crore from anchor traders by allocating 54,43,635 fairness shares at Rs 1,100 apiece on Friday, July 4.
Notable anchor traders embrace ICICI Prudential Mutual Fund, Abu Dhabi Funding Authority, Axis Mutual Fund, Kotak Mutual Fund, HDFC Life Insurance coverage, Constancy, SBI Common Insurance coverage, and Tata AIA Life Insurance coverage, amongst others.
The gray market premium (GMP) for the IPO stands at Rs 49–50, suggesting a possible itemizing acquire of round 4% over the higher value band.Additionally Learn: Road favorite! 10 BSE large-cap shares analysts count on to rally as much as 70%About Journey Meals Providers IPO
The corporate has set the value band for the IPO at Rs 1,045 to Rs 1,100 per share. The problem is a 100% provide on the market (OFS), with no recent fairness being issued.
Traders can place bids for no less than 13 fairness shares and in multiples of 13 thereafter.
As per the provide construction, 50% of the problem is reserved for Certified Institutional Consumers (QIBs), 35% for retail traders, and 15% for Non-Institutional Traders (NIIs).
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In regards to the firm
Promoted by UK-based SSP Group plc and the Kapur Household Belief, Journey Meals Providers operates India’s largest airport meals and lounge community, with 413 retailers, of which 384 are positioned at airports throughout 14 Indian cities. It additionally runs 37 airport lounges, together with 28 non-public ones, making it the biggest lounge operator in India.
The corporate additionally operates internationally at three airports—two in Malaysia and one in Hong Kong.
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Journey Meals Providers financials
In FY25, Journey Meals Providers reported a 27.4% year-on-year rise in revenue to Rs 379.7 crore, whereas income grew 20.9% to Rs 1,687.7 crore.
(Disclaimer: Suggestions, ideas, views and opinions given by the specialists are their very own. These don’t characterize the views of the Financial Occasions)
