FINWIRES · TerminalLIVE
FINWIRES

India's Rentomojo Finds IPO Oversubscribed by 1.5x

By

Rentomojo's initial public offering was oversubscribed by 1.5 times in India, according to the latest data available on the National Stock Exchange's website on Thursday, indicating a strong demand for the company's shares and public confidence in the online furniture rental firm's growth story.

The company had reserved 21.8 million shares for the offering but received bids for 31.9 million shares, per the data from the bourse operator.

The company had previously disclosed in its prospectus that proceeds from the offering are expected to be used for debt repayment, certain rental and license fee payments, and general corporate purposes.

Motilal Oswal, Axis Capital and IIFL Capitak are acting as lead bookrunners for the IPO.

Related Articles

Asia

Cheng Loong Clarifies Report Projecting September Revenue

Cheng Loong (TPE:1904) said an Economic Daily News report projecting September revenue above NT$4 billion was based solely on forecasts from institutional investors, according to a Wednesday filing.The report stated that the packaging manufacturer's September revenue is expected to remain at August's high level, potentially keeping monthly revenue above NT$4 billion for three consecutive months.

TPE:1904
Asia

Parkson Retail Renews Department Store Lease

Parkson Retail (KLSE:PARKSON) subsidiary, Jiangxi Parkson, renewed the lease on its department store premises, extending the tenancy by 15 years to Dec. 31, 2041, according to a Wednesday Bursa Malaysia filing.The store operator said the renewal covers about 31,955 square meters of space, with annual rent starting at 22 million yuan.

KLSE:PARKSON
Asia

South Korea to Implement Structural Reforms to Aid Economic Recovery

South Korea plans to put in place measures that boost economic recovery and growth through structural reforms, Deputy Prime Minister Koo Yun-cheol said at the Economic Relations Ministers' Meeting on Wednesday.Koo noted that nominal gross domestic product rose 26.4% in the second quarter on an on-year basis, which was the fastest growth in 47 years, while employment increased by 184,000 in August.Koo expects that it'll be faster to achieve a per capita gross national income of $40,000, it said.The government plans to announce steel industry upgrade measures in the fourth quarter, focusing on AI-driven manufacturing, high-value-added specialty steel and hydrogen-based steelmaking. The country will also ease regulations on Knowledge Industry Centers, including allowing broader tenant eligibility and converting vacant units into public rental housing, the filing said.Authorities plan to carry out intensive inspections targeting fraudulent activities, such as manipulating export figures to secure new stock listings, policy-based financial support, or government subsidies; passing off low-cost imports as domestic products; and making fraudulent deliveries in public procurement, it said.

^KOSDAQKOSPI