A leader in integrated electrical services, Rulka Electricals announced that its initial public offering (IPO) will open on Thursday, May 16 with a price band for the issue fixed at Rs 223 - Rs. 235 per share and a lot size of 600 shares.
Go Digit General Insurance will open its initial public offering (IPO) of equity shares on May 15, 2024, and close on May 17, 2024, with a price band set at Rs 258 to Rs 272 per equity share, each with a face value of Rs 10. The company plans to raise around Rs 2,615 crore from the IPO.
Haldiram, one of the biggest sweets-and-savouries makers in India, may soon attract a Rs 42579 crore offer from a trio that includes the world's biggest private equity (PE) firm. As per a report by Live Mint, Blackstone Inc along with Temasek Holdings Ltd and Bain Capital Lp are planning to acquire a controlling stake in Haldiram Foods International Private Limited.
The initial public offering (IPO) of Jamnagar-based Winsol Engineering has received bumper response from investors with an overall subscription of 460 times on the last day of the bidding process.
Slone Infosystems share price made a blockbuster debut on NSE SME today. Slone Infosystems share price opened at ₹118.50, which is 50% higher than the issue price of ₹79.
TGIF Agribusiness IPO has opened for subscription today (Wednesday, May 8), and will close on Friday, May 10. The issue's price band has been fixed at ₹93 per share. The IPO lot size for TGIF Agribusiness is 1,200 shares.
Mumbai: Aadhar Housing Finance raised ₹898 crore from 61 investors ahead of its IPO on Tuesday. The company offered 2.85 crore shares at ₹315 each. HDFC Mutual Fund, SBI Life Insurance, ICICI Prudential Banking and Financial Funds and Invesco India Contra Fund were among the anchor investors.
Plant-based speciality products company Sanstar Ltd has received Sebi's go-ahead to float an initial public offering, an update with the markets regulator showed on Tuesday.
The proposed initial public offering (IPO) comprises a fresh issue of 4 crore shares and an Offer For Sale (OFS) of up to 80 lakh shares by its promoters and promoter group selling shareholders, according to the draft red herring prospectus (DRHP).
Silkflex Polymers IPO: Silkflex Polymers (India) Ltd has launched its initial public offering (IPO) on Tuesday, May 7, to raise over ₹18 crore from the primary markets. The bidding for Silkflex Polymers IPO will remain open till Friday, May 10.
The SME IPO market is on fire and there is no sign of the heatwave ebbing anytime soon. Sample this: The total fundraise in the first four months this year is already half of what was seen in the whole of 2023. Market participants say the number of issues and the overall fund activity this year are set to surpass 2023 levels by a long margin.
Muthoot Finance on Saturday said that its subsidiary, Belstar Microfinance, has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) worth Rs 1300 crore with the Securities and Exchange Board of India (Sebi).
IT and cyber security solutions provider Sattrix Information Security has filed its draft red herring prospectus (DRHP) with the BSE SME for an IPO. The issue is completely a fresh equity sale of 18 lakh shares and through it, the company plans to raise around Rs 20 crore.
SK Finance has filed preliminary draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) to garner ₹2,200 crore through an initial share sale. The proposed initial public offer (IPO) is a combination of a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of up to ₹1,700 crore by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed by the company.
Aadhar Housing Finance IPO: The Blackstone Group-backed Aadhar Housing Finance is set to launch its initial public offering (IPO) on May 8. The bidding for the offer will conclude on May 10.
Brainbees Solutions, the parent firm of retailer FirstCry, has refiled its draft initial public offering (IPO) papers with the Securities and Exchange Board of India (Sebi), days after the markets regulator told the firm to come up with additional clarity on some key performance metrics.
Sai Swami Metals & Alloys IPO has began accepting subscriptions today, Tuesday, April 30, and will end on Friday, May 3. The IPO price band for Sai Swami Metals & Alloys has been set at ₹60 for each equity share with a face value of ₹10. Sai Swami Metals & Alloys IPO lot size consists of 2,000 shares. Applications have to include a minimum of 2,000 equity shares; after that, multiples of 2,000 equity shares will be considered.
Racks & Rollers IPO has opened for subscription today (Tuesday, April 30), and will close on Friday, May 3. The IPO price band has been fixed in the range of ₹73 to ₹78 per equity share of face value of ₹10 each. There are 1,600 shares in each IPO lot. 1,600 equity shares is the minimum application size; beyond that, applications will be accepted in multiples of 1,600 equity shares.
Bricks manufacturer Refractory Shapes will soon be launching its initial public offerings (IPO). The small and medium enterprise (SME) IPO will open for subscription on May 6 and will close on May 9.
Markets regulator Sebi has asked the National Stock Exchange (NSE) to designate a valuer to conduct the valuation of related party transactions between Linde India and Praxair India following complaints by shareholders.
The SME IPO of Sai Swami Metals opened for subscription on Tuesday and will close on May 3. The company aims to raise about Rs 15 crore through the SME IPO and list the shares on the BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
Engineering solutions provider Diffusion Engineers, on April 29, has re-filed draft red herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India (SEBI) to launch initial public offerings (IPO).
Indegene IPO price band has been fixed in the range of ₹430 to ₹452 per equity share of the face value of ₹2. The Indegene IPO date of subscription is scheduled for Monday, May 6, and will close on Wednesday, May 8. The allocation to anchor investors for the Indegene IPO is scheduled to take place on Friday, May 3.
To facilitate ease of doing business, markets regulator Sebi on Friday allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector.
Niche auto components manufacturer Emmforce Autotech on Thursday said its initial public offering received an overwhelming response from the investors as it was subscribed 365 times on the final day of bidding.
Indian retailer FirstCry is set to withdraw its papers for an up to $500 million IPO as early as next week, after India's markets regulator raised questions over key metrics it disclosed to investors, said three sources with direct knowledge of the issue.
After NTPC Green’s Rs 10,000 crore initial public offer (IPO) expected around November, almost a dozen more such issues are likely to hit the market over the ensuing months, with state-run energy companies seeking to bolster the capital bases of their newly incorporated green subsidiaries.
Bengaluru-based Swiggy has received a go-ahead from its shareholders for its initial public offering (IPO), as per regulatory filings. The food and grocery delivery company plans to raise up to Rs 3,750 crore ($450 million) in fresh capital, in addition to an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million), according to filings made with the Registrar of Companies.
The Securities Exchange Board of India (SEBI) has given the nod to the IPOs of co-working space provider Awfis Space Solutions Ltd and online travel distribution platform TBO Tek Ltd. The companies plan to raise ₹160 crore and ₹400 crore respectively, according to exchange filings.
India's leading conglomerate Tata Group has started preparations for Tata Capital IPO while trying to avoid listing the holding arm Tata Sons, according to an ET Now report.
The Rs 18,000-crore follow-on public offering (FPO) of Vodafone Idea (VIL) has successfully sailed through despite volatile market conditions.
Hyderabad-based Premier Energies Limited, India’s second largest integrated solar cell and solar module manufacturer has filed the draft red herring prospectus (DRHP) with capital markets regulator, SEBI to raise more than Rs 1,500 crore through an initial public offering (IPO).
The primary market is all set to be back in action after a break with opening of four new initial public offerings (IPOs), including one mainboard and three small and medium enterprise (SME) public issues.
Varyaa Creations IPO: The initial public offering (IPO) of Varyaa Creations Limited is going to hit the Indian primary market on 22nd April 2024. The upcoming IPO will remain open till 25th April 2024. This means Varyaa Creations IPO will remain open from Monday to Thursday next week. The jewelry company has fixed Varyaa Creations IPO price at ₹150 per equity share. The fixed price issue is proposed for listing on the BSE SME exchange and shares of the company are trading at par in the grey market today. The jewelry company aims to raise 20.10 crore through the issuance of 13.40 fresh shares of the company.
The National Stock Exchange (NSE) on Thursday, April 18, announced it had received approval from market regulator SEBI for trading in the monthly futures and options (F&O) contracts on the Nifty Next 50 index which will start from Wednesday, April 24.
Yarn manufacturer Sanathan Textiles has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise ₹800 crore through an initial public offering (IPO).
The Securities and Exchange Board of India (Sebi) on Friday proposed a new framework for price discovery of listed investment holding companies (holdcos) to address the gap between their traded price and book value.
Ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday.
SoftBank-backed Ola plans to file papers for approval with the country's market regulator within three months, said the sources, who declined to be named as the matter is confidential.
Vodafone Idea FPO subscription status: Following a muted opening on Thursday, debt-ridden telecom operator Vodafone Idea Ltd was nearly booked halfway by the second day. Retail investors segment was slightly better while non-institutional investors (NIIs) continued to rise in tandem with qualified institutional buyers (QIBs). Nonetheless, market analysts are optimistic about the issueand think that the fact that the QIBs portion getting bookedon the second day itself is encouraging. Furthermore, they think that Monday, the last day, is the only day when the actual subscriptions will begin to flow.
The SME IPO of Faalcon Concepts was subscribed 89% on the first day of the bidding process. The issue received bids for 16.5 lakh shares against 18.5 lakh shares on offer.
Speciality chemicals company Kronox Lab Sciences has received Sebi's go ahead to raise funds through an initial public offering (IPO), an update with the capital markets regulator showed on Thursday.
The proposed offer comprises a fresh issue of equity shares worth Rs 45 crore and an offer for sale (OFS) of 78 lakh equity shares by promoters, according to the draft red herring prospectus (DRHP).
The National Stock Exchange (NSE) on Thursday said it will introduce derivative contracts on Nifty Next 50 index from April 24.
The Nifty Next 50 index represents 50 companies from Nifty 100 after excluding the Nifty 50 companies.
Heating equipment maker JNK India Ltd on Thursday said it has fixed a price band of Rs 395-415 per share for its Rs 650-crore initial public offering (IPO).
The initial share-sale will be open for public subscription during April 23-25 and the bidding for anchor investors will open for a day on April 22, the company said in a statement.
Shares of telecom service provider Bharti Hexacom hit a new high of Rs 961.40 as they rallied 8 per cent on the BSE in Thursday's intra-day trade. Bharti Hexacom stock has surged 22 per cent in the past two trading days. With the past 2-day rally, the stock price of Bharti Hexacom has zoomed 72 per cent over its issue price of Rs 570. The stock recorded this gain in just four trading sessions.
Heating equipment maker JNK India Ltd is set to open its initial public offering (IPO) on April 23.
The initial share-sale will conclude on April 25 and the bidding for anchor investors will open for a day on April 22, according to the red herring prospectus (RHP) filed on Tuesday.
Debt-ridden telco Vodafone Idea (VI), which has been plagued by losses and subscriber erosion, is coming up with a follow-on public offer (FPO) on April 18.
The shares of DGC Cables and Wires listed on the NSE SME platform with a discount of 10% on Tuesday. The stock debuted at Rs 90 as against an issue price of Rs 100.
Nephro Care India (NCIL), a leading multi-specialty healthcare provider in East India, has filed its draft red herring prospectus (DRHP) papers with NSE Emerge to raise funds through an initial public offering (IPO).
Faalcon Concepts IPO: Faalcon Concepts Ltd is set to launch its initial public offering (IPO) on April 19 to raise a little over ₹12 crore from primary markets. Faalcon Concepts deals with the planning, design, fabrication, and installation of façade systems.
Next week will see the JNK India IPO, which will resume the mainboard IPO scene after a gap of more than a week. The JNK India IPO date is scheduled to open on Tuesday, April 23 and close on Thursday, April 25. The allocation to anchor investors for the JNK India IPO is scheduled to take place on Monday, April 22. The Street awaits the IPO's price band this week.
Gurgaon-based healthtech firm Pristyn Care aims for profitability within the next six months and eyes an initial public offering (IPO) within three years.
Carlyle Group Inc. has selected JPMorgan Chase & Co. and Kotak Mahindra Bank to help arrange Hexaware Technologies Ltd.’s planned initial public offering in Mumbai this year, according to people familiar with the matter.
(Bloomberg) -- UL Solutions Inc. shares climbed as much as 23% after the safety testing and inspection company’s expanded initial public offering raised $946 million, as the nascent recovery in listings continues to grow.
Cash-strapped Vodafone Idea's board on Friday approved a resolution for a public offering of its equity shares worth Rs 18,000 crore. A company filing said that the follow-on public offer (FPO) will open on April 18, Thursday and close on April 22, Monday. The anchor investor bid will open on April 16.
Aadhar Housing Finance Limited, which is an HFC focused on the low income housing segment in India, has received final observations from SEBI for their proposed IPO.
Food delivery app Swiggy, which is gearing up for initial public offerings (IPO), is offering high-net-worth individuals (HNIs) to purchase its shares at a 20 per cent markdown from its present valuation, according to a report by Entrackr.
A buoyant market sentiment encouraged a whopping 76 companies to tap into the public markets in the fiscal year 2023-24, the highest in 16 years. Collectively, these companies raised ₹61,915 crore, a near 19% increase over the previous year, according to data from primedatabase.com.
Shares of Creative Graphics Solutions debuted at a premium of 105% on the NSE SME platform on Tuesday. The stock was listed at Rs 175 as against an offer price of Rs 85.
The S&P BSE Sensex, on Tuesday, crossed the 75,000-mark for the first time ever, hitting a new all-time intraday high at 75,124. It took barely four months to rally from 70,000 levels to the 75,000 mark. The last 10,000 points have come in little over nine months.
Capital markets regulator Sebi has approved the IPO of leading affordable housing finance company Aadhar Housing Finance. The company, which aims to raise around Rs 5,000 crore through the offer, had filed its draft papers in February.
The SME IPO of DCG Cables and Wires opened for subscription on Monday and will close on April 10. The company aims to raise about Rs 50 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
To facilitate ease of doing business, Sebi has proposed that certain changes in the private placement memorandum of alternative investment funds can be submitted directly to the regulator rather than through a merchant banker.
Northern Arc Capital Ltd (NACL) is looking to raise Rs 385 crore of private equity funding ahead of its planned initial public offering (IPO) in the first half of the current financial year (H1FY25).
The PE infusion will support the IIFL- and LeapFrog Investments-backed non-banking financial company (NBFC) to maintain its managed gearing, or financial leverage, under 4.0 times on a steady-state basis, according to rating agency ICRA.
Indian supermarket chain Vishal Mega Mart Pvt. has picked banks as it presses ahead with a planned initial public offering in Mumbai this year, according to people familiar with the matter.
Vishal Mega Mart chose Kotak Mahindra Bank Ltd. and ICICI Bank Ltd to help arrange a share sale as early as in the fourth quarter of this year, the people said, asking not to be identified because the deliberations are private.
After a mega IPO of Bharti Hexacom to start the fiscal, the primary market will take a breather next week as no new mainboard IPOs are opening. However, the action continues in the SME segment as three companies gear up to launch their issues.
Even though there are no new IPO launches next week, the Street will see the listing of Bharti Hexacom's public offer, which received a healthy subscription of nearly 30 times.
Teerth Gopicon Ltd, an engineering construction and development company, on Friday fixed the issue price at Rs 111 per share for its initial public offering which will hit the capital market on April 8.
The Ahmedabad-based company, which mainly focuses on roads, sewerage and water distribution projects, looks to raise up to Rs 44.40 crore from the SME public issue, the company said in a statement.
Through an initial stake sale of shares. The firm intends to use the proceeds to pare debt and for its general capital expenditure needs, amongst others.
The initial public offering (IPO) would be through an issuance of fresh shares of Rs 1,250 crore and an offer for sale (OFS) of up to Rs 5,750 crore by Goswami Infratech, an SP Group firm, according to the draft red herring prospectus (DRHP) filed with Sebi.
Securities and Exchange Board of India (SEBI) registered Category I Alternative Investment Fund (AIF) Holani Venture Capital Fund, part of merchant banker and stockbroker Holani Consultants in Jaipur, has launched a Rs 400 crore SME-focused fund with a green shoe option of another Rs 100 crore, the company announced on Thursday.
AIFs are privately pooled funds unlike conventional investment instruments. The target investors of the new fund include institutional investors and high-net-worth individuals (HNIs) who seek higher returns and portfolio diversification, the company said in a statement.
The National Stock Exchange of India is looking into alleged manipulations in SME market following the comments by the Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch a few weeks ago, a senior official said.
In March, Buch had flagged signs of manipulation in the initial public offering (IPO) and share trading in the SME segment of capital markets. “We are looking into SME manipulation claims by SEBI. We’ll the complete the process as per the requirement,” the official said.
Homegrown OTT platform, Ullu Digital Limited, has submitted a draft red herring prospectus (DRHP) to the BSE SME for its upcoming initial public offering (IPO).
The proposed IPO aims to raise funds through the issuance of up to 62,62,800 fresh equity shares, without any offer for sale (OFS) component, as highlighted in the DRHP.
Ullu anticipates garnering between Rs 135-150 crore through the IPO, potentially valuing the company at approximately Rs 500-570 crore or $60-70 million.
The National Stock Exchange (NSE) is awaiting an approval from the Securities and Exchange Board of India (Sebi) for filing a new draft red herring prospects (DRHP) for its long-planned initial public offering, Ashishkumar Chauhan, MD & CEO, told reporters on Thursday.
“Sebi has to give approval for the IPO. Once they give the approval, we’ll apply for it,” Chauhan said. “BSE took nine years to get approval for an IPO from Sebi…we don’t know how long it will take for us (to get it),” the head of the country’s largest stock exchange said.
Mumbai/New Delhi: Vodafone Idea is preparing to raise ₹20,000 crore from the markets through a follow-on public offer (FPO) likely as early as next week, said three people aware of the discussions the cash-strapped company was having with banks.
For the third month running, investors opened over four million new demat accounts in February, showing growing household confidence in stock markets and their increased risk appetite.
Over 13.12 million new demat accounts have been opened in the last three months, taking the total count close to the 150-million mark.
Demat accounts are needed for trading and holding shares electronically. The additions in February were slightly less than the previous month but 55 per cent higher than the prior 12-month average of 2.8 million.
Student recruitment solution provider Crizac Ltd has filed preliminary papers with markets regulator Sebi to garner Rs 1,000 crore through an initial public offering.
The initial public offering (IPO) is entirely an offer for sale (OFS) by promoters, Pinky Agarwal and Manish Agarwal, with no fresh issue component.
The OFS consists of sale of equity shares worth Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal. The offer includes a reservation for subscription by eligible employees, according to the draft red herring prospectus (DRHP) filed on Tuesday.
The National Stock Exchange of India (NSE) has announced a reduction in lot sizes for derivative contracts on three indices: Nifty 50, Nifty Financial Services, and Nifty Midcap Select. These changes will come into effect starting 26 April 2024, with varying implementation timelines for different contract types.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group — a mid-market investment bank.
During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
MUMBAI - The National Stock Exchange (NSE) of India will launch four new indices in the cash and futures and options segments with effect from April 8.
The exchange has proposed online dissemination of indices namely, Nifty Tata Group 25% Cap, Nifty500 Multicap India Manufacturing 50:30:20, Nifty500 Multicap Infrastructure 50:30:20, and Nifty MidSmall Healthcare, according to a circular issued by NSE earlier today.
ET Intelligence Group: The initial public offering (IPO) of small and medium enterprises (SMEs) have caught the fancy of investors over the past two years given their potential to earn multi-fold returns in short periods. This notwithstanding the fact that the minimum investment required to participate in an SME IPO is Rs 1 lakh, which is steeper than the main board IPOs where the minimum bid size is typically around Rs 15,000.
Shares of Trust Fintech debuted on the NSE SME platform at a premium of 41.8% on Thursday. The stock was listed at Rs 143.25, compared with an offer price of Rs 101.
Trust Fintech shares were trading with a GMP of Rs 60 in the unlisted market just prior to the debut.
MUMBAI - Gujarat-based Vasuki Global Industries Ltd has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering of 1.4 crore shares.
Promoter and promoter group entities cumulatively hold about 83% stake in the company.
Vasuki Global is a vertically integrated procurement and processing agent and its business is divided into two segments – procurement and logistics.
Shares of Blue Pebble were quoting at Rs 208.95 on the NSE, a premium of 24.38% compared with the issue price of Rs 168.
The scrip was listed at Rs 199, a premium of 18.45% compared with the initial public offer (IPO) price. The stock is currently stuck at an upper limit of 5% over its listing price.
The counter hit a high of Rs 208.95 and a low of Rs 189.05. About 5.02 lakh shares of the company changed hands at the counter.
One out of five stocks or 110 scrips from the S&P BSE 500 index have more-than-doubled in the financial year 2024 (FY24), while the benchmark indices were set to report their best performance in the past three fiscals. The primary catalyst for the equities rally is the huge liquidity flows into the market. The S&P BSE 500 index zoomed 39 per cent thus far in FY24.
Meanwhile, the S&P BSE Sensex and Nifty 50 index rallied 25 per cent and 29 per cent, respectively in FY24. Earlier, in FY21, these indices had surged 68 per cent and 71 per cent, respectively.
Shares of Gconnect Logitech and Supply Chain were quoting at Rs 44.10 on the BSE, a premium of 10.25% compared with the issue price of Rs 40.
The scrip was listed at Rs 42, a premium of 5% compared with the initial public offer (IPO) price. The stock is currently stuck at an upper limit of 5% over its listing price.
The counter hit a high of Rs 44.10 and a low of Rs 42. About 6.93 lakh shares of the company changed hands at the counter.
Gconnect Logitech and Supply Chain's IPO was subscribed 54.36 times. The issue opened for bidding on 26 March 2024 and it closed on 28 March 2024. The price of the IPO was fixed at Rs 40 per share. The shares will list on the BSE's SME platform.
The Securities and Exchange Board of India or SEBI has stated that it has been decided to put in place a framework for introduction of the Beta version of T+0 settlement cycle on optional basis in addition to the existing T+1 settlement cycle in equity cash market, for a limited set of 25 scrips and with a limited number of brokers.
SEBI had earlier allowed for introduction of T+1 rolling settlement cycle. All stock exchanges, clearing corporations and depositories (collectively referred to as "Market Infrastructure Institutions (MIIs)") jointly decided to shift to T+1 settlement cycle in a phased manner, which was fully implemented w.e.f. January 27, 2023.
Jewellery retail chain P N Gadgil Jewellers Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,100 crore through an initial public offering (IPO) to fund its expansion and pare debt.
The Maharashtra-based company's proposed IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by a promoter SVG Business Trust, according to the draft red herring prospectus (DRHP).
Auto parts manufacturer Kross Ltd and Saraswati Saree Depot Ltd have received Sebi's go ahead to raise funds through initial public offerings.
The two companies filed their preliminary initial public offering (IPO) papers with the capital markets regulator between October and December 2023 and obtained their regulatory observation during March 22-27, an update with the Securities and Exchange Board of India (Sebi) showed on Monday.
Mumbai: Innoviti Technologies, India’s largest payments-centric retail SaaS (software as a service) platform, has successfully raised Rs. 40 crore in the first close of its Series E funding round. The company plans to float in initial public offering in the next 12 months.
The round was led by Bessemer Venture Partners and Patni Family Office, with early angels and founders also participating.
Innoviti is a key player in providing software tools for enterprise brands like Reliance, Tanishq, and Shoppers Stop, enabling secure and efficient payment acceptance.
Supermarket chain Patel Retail has filed its draft red herring prospectus (DRHP) with the market regulator Sebi to raise funds through an IPO.
The public offer, with a face value of Rs 10 per share, is a mix of fresh equity issue of 90.18 lakh and an offer for sale of 10.02 lakh shares by
The company, in consultation with the book-running lead manager, may consider undertaking a further equity issue of up to 5 lakh shares as a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced.
Buoyant secondary markets, strong participation of retail investors, and robust flows from institutional investors helped 76 companies in raising nearly Rs 62,000 crore through mainboard IPOs in 2023-24, marking a 19 per cent surge from the previous fiscal year. With FY2025 on the horizon, expectations are high for yet another stellar year for IPOs (Initial Public Offerings). This optimism is fuelled by a confluence of factors, including the surge in domestic capital, enhanced governance practic the vibrant spirit of Indian entrepreneurship, and favourable government policies bolstered by FDI support, Pantomath Financial Services Group, said in its report.
SYDNEY/MUMBAI -Blackstone is exploring raising $300 million via an India IPO of the International Gemological Institute (IGI), less than a year after it acquired the company, amid booming stock markets in the region, three people familiar with the matter said.
Blackstone acquired IGI for $570 million in May 2023 from Chinese conglomerate Fosun and the business's founding Lorie family. IGI has most of its business in India and describes itself as the world's largest independent lab for testing and grading diamonds and other gemstones and jewelry.
Blackstone has appointed investment banks Morgan Stanley and India's Kotak to lead the IPO deal, two sources added.
Buoyant secondary markets, strong participation of retail investors, and robust flows from institutional investors helped 76 companies in raising nearly ₹62,000 crore through mainboard initial public offerings (IPOs) in 2023-24, marking a 19% surge from the previous fiscal year.
The mega public offer of Bharti Hexacom, which opened for subscription, will kick-start the primary market activity in the new fiscal year. The company aims to raise Rs 4,275 crore through the IPO and the anchor book opened later on Tuesday.
Ahead of the issue launch, the company's shares are trading with a premium of Rs 40 in the unlisted market.
The IPO, which closes on April 5, is priced in the range of Rs 542-570 per share and investors can bid for 26 shares in one lot.
Mumbai: Sebi chief Madhabi Puri Buch said on Tuesday that the high price-to-earning multiple in Indian markets reflected global investors’ optimism and trust, while arguing that valuation was a manifestation of the economy’s momentum.
Mumbai: Facing steadily creeping competition from rival BSE, the National Stock Exchange (NSE), India’s market-leading stock exchange, has halved the lot size of its Nifty futures and options contracts to 25 shares with effect from 26 April across weekly, monthly, quarterly and half-yearly expiries.
The move has made its contracts significantly cheaper than the Sensex options contracts, which picked up steam from May last year.
The primary market is all set to kickstart its new financial year 25 with only one new initial public offerings (IPO) i.e. Bharti Hexacom IPO scheduled to open next week.
In the realm of current IPOs, the Radiowalla IPO and TAC Infosec IPO are scheduled to conclude on April 2nd. Meanwhile, bids for the Yash Optics & Lens IPO, Jay Kailash Namkeen IPO, and K2 Infragen IPO, all from the SME segment, will wrap up on April 3rd. The Aluwind Architectural IPO and Creative Graphics Solutions India IPO, also from the SME segment, will close on April 4th.
(Bloomberg) -- After the worst quarter in five years for Asia Pacific initial public offerings, a pick up activity is expected from South Korea, India and Japan while Chinese deals are likely to remain sparse.
New share sales across the region fell to $11 billion between January and March, the lowest tally for a quarter since early 2019, data compiled by Bloomberg show. The amount represents a 46% drop from the same period last year.
The TAC Infosec IPO, which opened for subscription on Wednesday, March 27, will end on Tuesday, April 2. The lot size for the IPO is 1,200 equity shares; buyers may bid for a minimum of 1,200 equity shares. The price band for the issue is ₹100 to ₹106 per share, with a face value of ₹10.
On Tuesday, March 26, TAC Infosec IPO garnered ₹8.55 crore by selling 8.06 lakh equity shares to its anchor investors at a price of ₹106 each. The anchor book was subscribed to by well-known investors, such as Astorne Capital VCC, Zinnia Global Fund PCC - Cell Dewcap Fund, LC Radiance Fund VCC, Beacon Stone Capital VCC - Beacon Stone I, and NAV Capital VCC - NAV Capital Emerging Star Fund.
Markets regulator Sebi on Monday launched the new version of SCORES in a bid to strengthen the investor complaint redressal mechanism by introducing auto-routing of complaints and monitoring such grievances by designated bodies.
Rays Power Infra IPO: The integrated solar power firm Rays Power Infra IPO announced the completion of its Pre-IPO round of ₹54 crores in order to raise funds and increase investor trust. As part of this process, the company intends to refile its Draft Red Herring Prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI).
Rays Power Infra's Managing Director, Ketan Mehta, stated that the company intends to refile its DRHP for a larger fund at a much better valuation, given the recent flood of substantial fresh deals and predicted growth trajectory. To maintain its current development trajectory, the company will keep exploring opportunities for strategic alliances and capital raising.
Supermarket Chain Patel Retail Limited has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).
The IPO, with a face value of ₹10 per equity share, is a mix of fresh issue of shares of up to 90.18 lakh and an offer for sale of up to 10.02 lakh equity shares by Promoter Selling Shareholders.
Radiowalla Network IPO : Subscription for the initial public offering (IPO) of Radiowalla Network Limited opened on 27th March 2024 and will remain open till 2nd April 2024. So, bidding for the NSE SME IPO ends on Tuesday this week. By 2:12 PM on day 3 of bidding, Radiowalla Network IPO subscription status signals a strong response by the primary market investors. Meanwhile, the grey market has remained steady regarding the Radiowalla Network IPO. According to stock market observers, shares of the Ashish Kacholia portfolio company Radiowalla Network Limited are available at a premium of ₹40 in the grey market today.
The primary market is set to witness another exceptional year in FY2024-25 thanks to robust economic growth and increasing hopes for policy continuation. For the third consecutive year, raising funds through initial public offerings (IPOs) would be a buzzing activity on D-Street, as 56 companies get ready to raise ₹70,000 crore, equivalent to $8.4 billion, in FY25. Moreover, 19 companies have already secured the Securities and Exchange Board of India (SEBI) approval to raise a substantial ₹25,000 crore.
Nearly 43 lakh new demat accounts were added in February taking the overall tally to 14.80 crore accounts according to estimates by Motilal Oswal. Meanwhile, the average monthly additions were 21 lakh in FY23.
Central Depository Services (India) Limited continued its market dominance gaining market share in February 2024 in terms of the total number of demat accounts added. It has also seen an increase in market share on a month-on-month basis. On a YoY basis, NSDL lost 380 bps and 920 bps market share in total and incremental demat accounts, respectively, during the month.
Engineering, procurement and construction company K2 Infragen initial public offerings (IPO) opened for subscription on March 28. The small and medium enterprise (SME) public issue was subscribed over 1.44 times on the second day of bidding.
Established in 2015, K2 Infragen Limited specializes in engineering, procurement, and construction (EPC) services. The company specializes in project planning, material procurement, on-site execution, and comprehensive project management, culminating in project commissioning. Our portfolio encompasses a wide range of projects including water supply, railroad infrastructure, road construction, and civil engineering endeavors.
The new financial year 2024-25, which is going to be an event-heavy one with Lok Sabha elections, US elections and two full Budgets, has kicked off on a higher base for equity investors with Sensex and Nifty touching fresh peaks on Day 1 itself. The base effect could, therefore, make FY25 a year of consolidation for stock investors.
"In the current market scenario, investors should look more at largecaps as midcap and smallcap companies are excessively priced. For long-term investors, based on their risk-taking capabilities, they can look at allocating 60-65% in equity, about 25-30% in debt and the balance in commodities," Tanvi Kanchan of Anand Rathi told ETMarkets.
Markets regulator Securities and Exchange Board of India (SEBI) rolled out an upgraded iteration of its complaint redressal system, SEBI Complaint Redress System (SCORES 2.0), on April 1.
“The new version of SCORES strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the ‘Designated Bodies and reduction of timelines," SEBI said in a release.
Rubrik Inc., a cloud and data security startup backed by Microsoft Corp., filed for an initial public offering, disclosing growing revenue and losses.
The offering is being led by Goldman Sachs Group Inc., Barclays Plc, Citigroup Inc. and Wells Fargo & Co., according to Monday’s filing with the US Securities and Exchange Commission, confirming a Bloomberg News report. The company plans to list its shares on the New York Stock Exchange under the symbol RBRK.
The initial public offering (IPO) market was buzzing with action in FY24, as a large number of medium and small companies rushed to raise money in a booming stock market.
In all, 76 companies raised as much as Rs 61,921 crore – 18.8% higher than FY23. Out of these, only 4 firms raised over Rs 2,000 crore. These included, Mankind Pharma (Rs 4,326 crore), Tata Technologies (Rs 3,043 crore), JSW Infra (Rs 2,800 crore) and public sector firm Ireda (Rs 2,150 crore). Almost 25 companies raised less than Rs 500 crore.
Indian food delivery giant Swiggy recorded a $200 million loss for the nine months to December 2023, according to an internal document of the company, which is looking to list on the stock market.
The SoftBank-backed company could list by the end of this year, sources previously told Reuters. India's stock market is booming although domestic and foreign investors have become more circumspect about IPOs by Indian startups amid concerns of unrealistically high valuations of companies still making losses.
The shares of Pratham EPC Projects listed on the NSE SME platform with a premium of 51% on Monday. The stock debuted at Rs 113.3 as against an issue price of Rs 75.
Ahead of the listing, the shares of Pratham EPC Projects were trading at Rs 25 in the unlisted market.
Ecos (India) Mobility & Hospitality has filed its draft red herring prospectus (DRHP) papers with capital markets regulator SEBI to raise funds through an initial public offering (IPO).
According to the draft papers, the offer comprises an Offer for Sale (OFS) of up to 18,000,000 equity shares (face value Rs 2 each) including up to 9,900,000 equity shares by Rajesh Loomba; and up to 8,100,000 equity shares by Aditya Loomba.
The primary market is witnessing a tremendous surge in activity with high liquidity and enhanced investor appetite for new issue launches irrespective of the market sentiments.
Companies raised Rs 62,000 crore through initial share sales in fiscal 2024 and the pipeline looks equally strong. As much as Rs 70,000 crore worth of offerings are expected to hit the markets next fiscal with some big names in the mix.
Syngenta Group withdrew its longdelayed application for a $ 9 billion initial public offering in Shanghai, another blow to China´s equity markets after Alibaba Group Holding this week scrapped the listing of its logistics arm. The China seed and pest -icide giant “will look to restart the listing process, either in China or a different global exchange, when the conditions are right,” Syngenta said on Friday in a statement on its website.
Indian mobile phone brand Lava is revisiting its plans to list on Indian stock exchanges with the aim of raising ₹500 crore, and has initiated talks with various investment banks for the public offering, a senior executive said.
The company is also gearing up to enter the wearables market next month with India-made smartwatches under the sub-brand ProWatch.
Equity fundraising through initial public offers (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by Prime Database.
However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year. The Rs 21,008-crore IPO of LIC came in May 2022.
Despite geopolitical risks, rising interest rates, and volatile commodity prices, the Indian capital markets have remained one of the best performing among emerging markets in FY24, the Finance Ministry said in its latest monthly economic review for February 2024, highlighting the growth in capital raised by SMEs and corporates.
From April 2023 to February 2024, 345 companies were listed on stock exchanges. Among these, 179 were SMEs that raised Rs 5,381 crore, hitting a new high while 68 were main board companies (raising Rs 58,745 crore), according to the monthly review.
ब्रोकरेज फर्म आईसीआईसीआई सिक्योरिटीज को बाजार नियामक सेबी से कड़ी चेतावनी मिली है. बाजार नियामक ने कंपनी को शुक्रवार को एडमिनिस्ट्रेटिव वॉर्निंग दी, जिसके बारे में खुद कंपनी ने शेयर बाजारों को अवगत कराया.
सेबी की यह वॉर्निंग आईसीआईसीआई सिक्योरिटीज के बुक व अकाउंट की इंस्पेक्शन के बाद आई है. बाजार नियामक ने आईसीआईसीआई सिक्योरिटीज की मर्चेंट बैंकिंग एक्टिविटीज के सभी बुक्स व रिकॉर्ड्स की इंस्पेक्शन की थी, जो दिसंबर 2023 में पूरी हुई थी. उसके बाद अब नियामक ने एडमिनिस्ट्रेटिव वॉर्निंग दी है.
The regulator's move to relax norms for minimum promoter contribution (MPC) will ease the path for startups seeking to tap the domestic public markets, experts said.
The Securities and Exchange Board of India said last week it will expand the list of eligible investors that can contribute to meeting MPC lock-in requirements without being identified as promoters.
Bhavish Aggarwal-led Ola Electric is close to signing up anchor investors for its initial public offering (IPO), the first in India's electric vehicle space, two people aware of the development said. The maker of S1 series of electric scooters has pitched its state-of-the-art battery technology under development as the USP in its road shows, the people said.
Singapore-based Eastspring, a subsidiary of Prudential Plc, and UK-based Pictet are among investors which have shown interest to be anchor investors, the people cited above said on condition of anonymity.
Capital markets regulator Sebi approved the initial public offering (IPO) of Bharti Airtel's unit Bharti Hexacom along with the issue of Jyoti Structures Ltd.
Bharti Hexacom had filed its draft papers with the regulator earlier in January this year.
The IPO is completely an offer for sale of up to 10 crore shares by Telecommunications Consultants India. Since the issue is an OFS, Bharti Hexacom will not receive any proceeds.
The government is looking to garner around Rs 10,000 crore through the stake sale by Telecommunications Consultants, a state-owned telecom engineering and consulting firm with business interests overseas, including in pan-African and West Asia markets.
Unicommerce, a business-to-business e-commerce software-as-a-service platform offering solutions to retailers such as Myntra, Lenskart and TCNS, is exploring several options to raise capital including a public market listing and tapping private equity investors, said Kapil Makhija, chief executive officer of Unicommerce.
“Different options are there on the table, and going public is one. We have not yet made a decision on it. Discussions are happening. We will figure out the right path, the right time, and make an announcement," said Makhija.
“The decision on whether we go with the public market route or a strategic or private funding will depend on different factors. There is no immediate need for funding. Once we put all the options on the table, depending on which is the right fit for our organization, we will take a decision."
Integrated facilities management Updater Services Ltd has received capital markets regulator Sebi's approval to raise funds through an Initial Public Offering (IPO). The IPO will comprise a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer For Sale (OFS) of up to 1.33 crore equity shares by a promoter and existing shareholders.
Those who will be selling shares in the OFS are Tangi Facility Solutions Private Ltd, India Business Excellence Fund-II and India Business Excellence Fund-IIA.
Also, the company may consider a pre-IPO placement, aggregating up to Rs 80 crore. If such a placement is completed then the size of the fresh issue is reduced.
SoftBank Group's Arm is seeking a valuation of more than $52 billion in its initial public offering as the chip designer heads for the biggest stock market flotation of the year.
SoftBank is offering 95.5 million Am0erican depository shares of the Cambridge, United Kingdom-based company for $47 to $51 apiece and aims to raise up to $4.87 billion at the top of the range, a regulatory filing showed on Tuesday.
Its recent deal to acquire the 25% stake in Arm that it did not already own from its Vision Fund unit had valued the company at $64 billion.
भारत की ग्रॉस डोमेस्टिक प्रोडक्ट यानी GDP ग्रोथ पहली तिमाही (Q1FY24-अप्रैल-जून) में 7.8% रही। इससे अधिक GDP ग्रोथ अप्रैल-जून 2022-23 में 13.1% रही थी।
गुरुवार (31 अगस्त) को सरकार ने यह आंकड़े जारी किए हैं। नेशनल स्टैटिस्टिकल ऑफिस (NSO) के मुताबिक, सर्विसेस और मैन्युफैक्चरिंग के कारण अप्रैल-जून तिमाही में भारत की इकोनॉमी एक साल में सबसे तेज गति से बढ़ी है।
GVA यानी ग्रॉस वैल्यू एडेड पिछली तिमाही (जनवरी-मार्च 2022-23) के 6.5% की तुलना में अप्रैल-जून 2023-24 में 7.8% रहा। वहीं सालाना आधार ( YoY) पर 11.9% की तुलना में यह कम रहा। ब्लूमबर्ग के 44 इकोनॉमिस्ट के सर्वे के अनुसार, पहली तिमाही में GDP ग्रोथ 7.8% रहने का ही अनुमान था, जबकि GVA ग्रोथ 7.7% रहने का अनुमान था।
The Securities & Exchange Board of India ’s plan to roll out norms for follow-on offers by real estate investment trusts ( REITs ) and infrastructure investment trusts ( InvITs ) is expected to provide an additional avenue for fundraising and liquidity to these business trusts.
The move, along with its recent decisions to introduce the concept of self-sponsored REITs and allowing REIT unit holders to
appoint representatives to the boards, will boost retail investors’ confidence and enhance the depth of the market.
“REIT and InvITs act as a platform for institutional and retail investors to diversify their investment portfolio to real estate and infrastructure projects, respectively. Sebi 's move to allow follow-on-offer on both these products will optimise avenues for fundraising and liquidity through a structured and well-governed mechanism
Filings by the hospitals as well as pharmaceutical spaces in 2023 for an initial public offering (IPO) have seen a surge, compared to a slow 2022.
IPOs totalling Rs 6,563 crore have been launched this calendar year so far, with those aggregating Rs 8,775 crore still in the pipeline. Of the total Rs 15,338 crore in 2023 — both launched and expected — Rs 6,087 crore is in the hospitals,
diagnostics, and medical equipment spaces, while Rs 9,252 crore is in the pharma and drugs space.
Among these is Jupiter Life Line Hospitals, which raked in around Rs 123 crore in a pre-IPO placement last week. According to PRIME Database, the issue is worth Rs 1,200 crore.
There were two IPOs in 2022 — both in the hospitals/diagnostics space — raising Rs 3,786 crore. There were none in the pharma/drugs space.
Vadodara-based Shiva Pharmachem , the largest manufacturer of acid and alkyl chlorides by volume in 2022, has filed its draft red herring prospectus (DRHP) with market regulator Sebi for an IPO.
The issue with a face value of Rs 2 each is entirely an offer for sale (OFS) of up to Rs 900 crore by promoter and promoter group selling shareholders.
Under the OFS, Vishal Rakesh Agrawal and Rahul Rakesh Agrawal will offload shares worth Rs 383 crore each, and Geetganga Investment will sell shares up to Rs 134 crore.
The offer is being made through the book-building process, wherein 50% will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for allocation to non-institutional investors and 35% of the offer reserved for allocation to retail investors.
Indian Stock exchanges (BSE and NSE, including SME’s) have ranked first in the world in terms of the number of IPO’s and 8th in terms of issue proceeds during YTD23, with no cross-border deals recorded, according to EY, a leading global professional services organisation.
According to the report, Indian stock exchanges (BSE and NSE, including SMEs) have ranked first in the world in terms of the number of IPOs and 8th in terms of issue proceeds during YTD23, with no cross-border deals recorded.
The main markets, comprising BSE and NSE, saw 6 IPOs in Q22023, including a fund raiser by an infrastructure investment trust, compared to 14 IPOs in Q2 2022 and 4 IPOs in Q12023.
After strong demand for four smaller public issues in July, about 8-10 initial public offerings (IPOs) are lined up to raise nearly ₹8,000 crore in August, according to investment bankers.
Companies such as SBFC Finance, Concord Biotech, Jupiter LifeLine Hospitals, TVS Supply Chain Solutions , Balaji Speciality Chemicals, Yatra Online, Innova Captab , Aeroflex Industries, Rishabh Instruments, and Vishnu Prakash R Punglia are likely to launch their maiden public issue this month.
The ₹1,551 crore public issue of Ahmedabad-based pharmaceutical firm Concord Biotech will open today for public subscription, while the ₹1,025 crore Mumbai-based non-banking finance company SBFC Finance public issue opened on Wednesday.
The mood in the primary market is better now with a strong secondary market, according to bankers.