FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: ACKO Technology Plans $300 Million IPO Filing by September, Targets $2 Billion Valuation

By

Digital insurance firm ACKO Technology & Services seeks to file draft papers for its planned initial public offering of about $300 million by September, targeting around $2 billion valuation, Mint reported Tuesday, citing two people familiar with the matter.

The draft red herring prospectus is likely to be filed with the Securities and Exchange Board of India between August and September, with a potential listing by the end of the financial year if market conditions remain supportive, the report noted.

The company has appointed ICICI Securities, Kotak Mahindra Capital and Morgan Stanley's India unit as book-running lead managers for the proposed share sale, Mint said it had reported in April.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Cosmo Chemical Shares Rise 6% on KRW15.5 Billion EcoPro Supply Deal

Cosmo Chemical (KRX:005420) secured a supply contract for cobalt sulfate, a secondary battery cathode material, from EcoPro (KOSDAQ:086520) subsidiary EcoPro EM, according to a Tuesday Korea Exchange filing.The contract, worth 15.47 billion won, is valid till Dec. 31, 2031.Shares of Cosmo Chemical rose nearly 6% in recent trade.

$KOSDAQ:086520$KRX:005420
Asia

Grasim Industries Earmarks INR31 Billion Capex for Lyocell Capacity Expansion

Grasim Industries (NSE:GRASIM, BOM:500300) has received board approval for Phase II expansion of its Lyocell capacity in Harihar, Karnataka, involving capital expenditure of 30.9 billion Indian rupees, according to a Monday filing with the Indian bourses.The expansion will be executed in two phases, adding a total capacity of 110,000 tonnes per annum (TPA) through two 55,000 TPA lines. The first phase is expected to be completed by mid-2028, followed by the second phase by mid-2030.The Phase II expansion will complement Phase I of its Lyocell plant in Harihar, which is already under construction and is expected to be commissioned by mid-2027, the filing stated.

$BOM:500300$NSE:GRASIM
Asia

SEC Wins KRW4.2 Billion Equipment Supply Order from Hanwha Aerospace

South Korean tech and inspection company SEC (KOSDAQ:081180) won an order from Hanwha Aerospace (KRX:012450) to supply the latter with non-destructive testing equipment, according to a Tuesday filing with the Korea Exchange.The contract, worth 4.2 billion won, is valid till Dec. 31, 2027.Shares of Hanwha Aerospace rose nearly 1% in recent trade.

$KOSDAQ:081180$KRX:012450