Tag: ipo

LIC stock may be held for long term even if there's no listing gain: Experts

Tuesday, May 17, 2022
Life Insurance Corporation of India (LIC) failed to cheer investors on its listing day, as its shares debuted at an 8.6 percent discount at Rs 867 apiece on the BSE. On the National Stock Exchange (NSE), the shares debuted at Rs 872, down 8.1 percent against the issue price of Rs 949. The debut was below expectations, and also lower than the discounted value at which shares were offered to policyholders (a discount of Rs 60 per share). "Due to the volatile market conditions amid which LIC’s stock is listing, it may not provide listing gains. New investors who have got an allotment should not feel disappointed due to this. We strongly believe LIC’s stock is a sound long-term bet. If you hold on to this stock for more than three years, you are likely to earn decent returns,” say experts.

Delhivery IPO opens today. Should you invest or Not?

Wednesday, May 11, 2022
The Rs 5,235 crore IPO of India’s largest logistics service provider Delhivery will open for subscription today and close on Friday, May 13. The IPO is the second biggest for Dalal Street in the calendar year 2022 (CY22) after LIC. The IPO consists of a fresh issue of shares worth Rs 4,000 crore, and an offer-for-sale of Rs 1,235 crore. The price band of the issue is set at Rs 462-487 a share. Delhivery, which is the leading fully-integrated logistics services player in India by fiscal 2020-21 (FY21) revenue as per reports, has a diverse consumer base with 23,113 active customers. These are majorly e-commerce marketplaces, and direct-to-consumer e-tailers and enterprises. Read more

LIC IPO subscribed 2.95 times, generates bids worth Rs 43,933 crore

Tuesday, May 10, 2022
Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO) saw 2.95 times more demand than the shares on offer on the final day of bidding on Monday, generating bids worth Rs 43,933 crore. The subscription was primarily driven by domestic investors, mainly retail. The IPO saw 7.33 million applications from retail investors, the highest ever for a domestic issue, topping Reliance Power’s 2008 record of 4.8 million. The issue, however, got a lukewarm response from foreign portfolio investors (FPIs) amid global risk-off sentiment due to rising bond yields. Read more

LIC IPO would be merely a large domestic offering for domestic investors

Tuesday, April 26, 2022
Most large global investors that the Central govt had interacted with for Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO) may give the issue a miss. But in their interactions with the Centre, they have committed to consider investing in the insurer’s future offerings, based on its performance as a listed entity. The Centre had reached out to 180-200 large investors that included sovereign wealth funds, investors who focus on only large IPOs globally, and those who make investment decisions based on environmental, social, and governance (ESG) track records. Even as the board of LIC has approved a reduction in the size of LIC’s IPO to 3.5 per cent or Rs 21,000 crore, the Centre is still in talks and gauging the response from some of these foreign investors to increase the size to 5 per cent, if they choose to participate in the offering. Read more

LIC IPO likely to hit market on May 2;size may be cut to Rs 21K cr

Friday, April 22, 2022
The size of the LIC's initial public offering (IPO) may be slashed to Rs 21,000 crore, according to some sources. The IPO, however, may come with a greenshoe option of Rs 9,000 crore. The total IPO size, after accounting for the greenshoe option, will work out to Rs 30,000 crore and will lead to a 5 percent dilution of the government stake. The government currently holds a 100 percent stake in LIC. The IPO is now expected to hit the market on May 2, sources said. The insurance giant’s valuation may be reduced to just Rs 6 trillion, which will be 1.1 times its embedded value of Rs 5.4 trillion, they added. Read more

LIC IPO may be delayed to next fiscal year amid market swings: Report

Friday, March 4, 2022
The IPO of LIC of India is set to be delayed into the next financial year amid market swings triggered by the Russia-Ukraine crisis, according to some sources. Bankers and officials are preparing to shift the listing of the state-run insurer to after the current fiscal year, which ends in March, as per the source. A formal announcement could be expected this week or next, they added. LIC’s underwriters have seen muted interest during early meetings with potential anchor investors, according to the people. Many fund managers have been wary of making major commitments amid the market volatility, the people said. Read more

As Zomato, Nykaa, MapMyIndia tank up to 20% BSE IPO index plunges 8%

Monday, January 24, 2022
As the recently listed stocks were hammered today(24 January 2022) amid a heavy sell-off in the markets the S&P BSE IPO index plunged 8 percent. The stock markets were under selling pressure for the fifth straight trading session owing to weak global cues on rising concerns about inflationary pressures, surging coronavirus cases, and prospects of interest rate hikes. Zomato, FSN E-Commerce Ventures (Nykaa), C E Info Systems (MapmyIndia), and PB Fintech, the parent company of Policybazaar were down up to 20 percent in intra-day trade so far. All these stocks hit their respective all-time lows since their listing on the stock market. Latent View Analytics, Go Fashion (India), Chemplast Sanmar, Macrotech Developers (Lodha), CMS Info Systems, Sona BLW Precision Forgings and Devyani International slipped between 8 per cent and 10 per cent on the BSE. Read more

GOI seeks Rs 15-trn valuation for LIC in India's biggest IPO

Wednesday, January 12, 2022
GOI is pushing for a valuation of about Rs 15 trillion ($203 billion) for LIC that’s soon expected to file for the nation’s biggest initial public offering, people familiar with the matter said, even as arrangers awaited a final report on the firm’s estimated worth. The so-called embedded value of Life Insurance Corp. of India is likely to be more than Rs 4 trillion, and its market value could be about four times that amount, the people said, asking not to be identified as the discussions are private. Once the final report is in, the valuation the government is seeking could change. Embedded value, a key metric for insurers, combines the current value of future profits with the net value of assets. The gauge will be part of LIC’s IPO prospectus that’s likely to be filed in the week starting Jan. 31. Typically, the market value of insurers is between three and five times the embedded value. Read more

The Rs 1,039.61 crore IPO of CE Info Systems (MapmyIndia) kicked off today

Thursday, December 9, 2021
The company has fixed the price band for the stake sale at Rs 1,000-1,033 apiece and investors can bid for a minimum of 14 shares and then in multiples thereof. The majority of the brokerage houses have suggested investors subscribe to the issue, thanks to its high growth potential, conservative valuations, robust client base, and entry barrier to the business. Founded in 1992, MapmyIndia is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies in India. While consumer-based apps like Google Maps are free, API and enterprise-based solutions are paid services and the company has an edge due to its maps being more accurate compared to peers, said Reliance Capital in its IPO note. Read more

Star Health: Good opportunity for long-term investors

Thursday, November 25, 2021
Star is the largest standalone health insurer. It has an excellent distribution network and a large hospital network of 11,778 hospitals. The network of 460,000 agents accounted for 79 percent of gross written premium (GWP) in 2020-21. The agent network is three times as large as the next-largest standalone health insurer. All claims processing is in-house, which means lower expenses. Star holds a 15.8 percent market share in the health segment, with a GWP of Rs 9,349 crore in 2020-21 and a GWP of Rs 5,070 crore in the first half of 2021-22. The product suite insured 20.5 million in FY21. Retail health and group health, accounted for 89.3 percent and 10.7 percent respectively, of health GWP in FY21. In retail, Star’s market share was 31 percent (ex-travel) and the CAGR for retail was 33 percent over the past three financial years. Read more

Paytm's IPO flop may disillusion millions of retail investors

Tuesday, November 23, 2021
In what was supposed to be the country’s breakout year the shocking two-day plunge by India’s Paytm after its initial public offering casts a shadow over the prospects for technology firms preparing to go public. Retail investors, who bought an unprecedented amount of shares in Paytm’s parent One 97 Communications Ltd., have seen more than 35% of their value wiped out in just two trading sessions. Further losses may be in store if the stock slumps from its Monday closing price of Rs 1,359.6 to the Rs 1,200 predicted by Macquarie Group Ltd. “The event in a way will nudge people to be cautious and not take the market for granted by blindly placing bets,” said an investment expert. “It is important that a company’s story and prospects are well understood by investors”, he said. Read more

Paytm shares disappointed IPO investors, lists at 9% discount to its issue price

Thursday, November 18, 2021
The parent company of Paytm, One 97 Communications, disappointed IPO investors as the unicorn's stock got listed today(18th Nov.2021) at Rs 1,950 on NSE, a discount of 9.3 percent over its price of Rs 2,150. At BSE, the stock got listed at Rs 1,955. The mega share sale of Paytm was the largest ever initial stake sale by any domestic company via the primary route. The company raised as much as Rs 18,300 through its IPO. The initial stake sale of One97 Communications was open for subscription between November 8-10. The company sold its shares in the range of Rs 2,080-2,150. Read more

LIC IPO expected to hit market by Q4: DIPAM Secy Tuhin Kanta Pandey

Wednesday, November 17, 2021
The much-awaited LIC IPO is expected to hit the market by the fourth quarter of the current fiscal, said Department of Investment and Public Asset Management Secy Tuhin Kanta Pandey. The government is seeking to raise as much as Rs 10 trillion ($133 billion) by selling up to a 10% stake. The sale of a 5% stake would make it India’s largest IPO, while a 10% dilution would make it the second-biggest of an insurer globally, Bloomberg reported. Read more

Policybazaar surges 16% after strong debut

Tuesday, November 16, 2021
Shares of PB Fintech, the parent company of Policybazaar, rallied another 16 percent to Rs 1,397 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after a strong market debut on Monday. With today’s rally, the stock has surged 43 percent against its issue price of Rs 980 per share. The stock listed at 17.35% premium on the BSE and hit an intraday high of Rs 1,249.00, The initial share sale was oversubscribed nearly 17 times. A sharp rally in the market price of the company has helped PB Fintech enter the top-100 most valuable companies in terms of market capitalization with a market cap of Rs 60,842 crore and stood at the 95th position overall market-cap ranking, the BSE data showed. The company is a leading Fintech firm that aims to enhance its visibility and awareness along with increasing its customer base which is expected to be beneficial for the company. Read more

Nykaa makes a stellar debut, stock lists at Rs 2,247 with 98% premium

Wednesday, November 10, 2021
Beauty startup Nykaa's founder Falguni Nayar has become India’s wealthiest self-made female billionaire, who owns almost half of Nykaa’s shares is now worth $6.5 billion as shares surged as much as 98% when they started trading Wednesday.Nayar, who formerly led a top Indian investment bank, founded Nykaa in 2012.Indian Institute of Management (IIM), Ahmedabad graduate Nayar has previously worked with AF Ferguson & Co and Kotak Mahindra Group. Heading a team of over 1600, Falguni has built beauty and lifestyle retail empire Nykaa which has emerged as India’s leading beauty retailer with a portfolio of 1500+ brands, including its own private label, available online and across 68 stores in India. Nayar owns her company stake through two family trusts and seven other promoter entities. Nykaa’s (FSN E-Commerce Venture Limited) shares were offered within a price range of ₹1,085 to ₹1,125, but the company made its stock market debut ₹2,001 earlier today. Read more

Paytm, 2 other public issues to open next week

Friday, November 5, 2021
With three firms- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics set to launch their initial share-sales to collectively mop up about Rs 21,000 crore, the hectic fundraising through IPOs will continue next week. This comes after five companies successfully concluded their public offerings (IPOs) this week. The three-day IPOs of Paytm, Sapphire Foods India, and Latent View Analytics are scheduled to open on November 8, November 9, and November 10, respectively. So far in 2021, as many as 46 companies have floated their IPOs to raise Rs 80,102 crore and market experts believe that the year should close with the Rs 1-lakh crore primary market fundraising. Read more

Closing Bell: Sensex settled with a gain of 831 points at 60,138 and Nifty ended 258 points higher at 17,930

Monday, November 1, 2021
The markets reversed its 3-day losing streak led by renewed buying interest in IT and select financial shares. The BSE Sensex reclaimed the 60,000-mark, and surged to a high of 60,220, before settling with a gain of 831 points at 60,138. The NSE Nifty touched a high of 17,954 and ended 258 points higher at 17,930. India VIX was down 1.4 percent at 17.18. The broader markets also logged strong gains. The BSE Midcap index surged 1.8 percent, while the Smallcap index moved up 1.1 percent. Among sectors, the BSE Realty index soared 3.7 percent, while the Telecom and Metal indices surged around 3.5 percent each. The IT index was up 2.3 percent, and the Bankex jumped 1.8 percent. The overall market breadth was also fairly positive, with 2,171 advancing shares versus 1,137 declining stocks on the BSE. Read more

Paytm pegs IPO at $20 bn valuation

Thursday, October 28, 2021
Paytm officially revealed for the first time today(28th Oct.2021) that its IPO will be at a $19.5 billion to $20 billion valuations. Paytm was valued at $16 billion when it raised funds two years ago. The IPO was priced at a lower valuation so that more people can participate, the company said. Founder and CEO Vijay Shekhar Sharma said, "Our life is going to become QSQT now or quarter se quarter tak (from one quarter to next)." He added that there is no interesting acquisition target on the horizon and the company is more focused on building itself as compared to buying. "But never say never," he added. The payments unicorn claims to have become contribution margin neutral, meaning it is recouping its cost from operating revenue. The company's contribution margin grew 198 percent to Rs 245 crore in Q1FY22 compared to the corresponding quarter in the previous financial year. Read more

Midcaps and smallcaps to contribute to profitability this time: Experts

Wednesday, October 13, 2021
People should always focus on high-quality companies but the opportunity set itself is going to be very different from the ones that we saw in 2018 and 2019 where the markets got very narrow on the top. I see a much wider breadth of industries starting to contribute to the overall profit pool, say, experts. Actually, they believe that while there has been a very strong consolidation in every sector and the big are getting bigger and the strong are getting stronger, the breadth of the market is likely to remain much wider and the opportunity set is likely to remain much wider. People should always focus on high-quality companies but the opportunity set itself is going to be very different from the ones that we saw in 2018 and 2019 where the markets got very narrow on the top. Read more

Ami Organics surges 20% after strong listing

Wednesday, September 15, 2021
Shares of Ami Organics gained 20 percent and hit a fresh high of Rs 1,121 on the BSE in intra-day trade on Wednesday after the specialty chemicals company made a strong market debut on Tuesday, listing at a premium of 49 percent. With today’s rally, the stock has now gained a solid 84 percent against in just two trading sessions from its issue price of Rs 610 per share. The initial public offering of Ami Organics was subscribed 64.54 times. Analysts say that a strong listing coupled with extreme positive sentiment in small and midcap stocks has led to strong buying in Ami Organics. Ami Organics is focused on manufacturing advanced pharma intermediates (PI) for regulated/generic APIs and New Chemical Entities (NCE) and key starting materials for agrochemical and fine chemicals. The company has three manufacturing facilities situated in Gujarat with an aggregate installed capacity of 6060 Mtpa. Read more

OLA could seek a valuation of more than $8 billion in the IPO and could lodge a filing in October

Monday, August 30, 2021
The 11-year-old Ola would be joining the group of Indian startups that are ready to tap the IPO market in the coming months. Paytm, the country’s leader in digital payments, Flipkart, the Indian e-commerce giant controlled by Walmart Inc., and digital education startup Byju’s are also preparing for their first-time share sales, Bloomberg News has reported. Ola has selected banks including Citigroup Inc. and Kotak Mahindra Bank Ltd. to manage its Mumbai initial public offering that could raise about $1 billion, according to reliable sources. The company, backed by SoftBank Group Corp. and Tiger Global Management, has also picked Morgan Stanley for the listing. The Bangalore-based startup could seek a valuation of more than $8 billion in the IPO and could lodge a filing as soon as October, according to sources.

Is the market for IPO in India is turning wild?

Thursday, August 19, 2021
The amount of money raised in IPOs this year in India has reached $8.8 billion, already surpassing the totals of the past three years. At the current pace, 2021 would exceed the all-time record of $11.8 billion. Founders, bankers, lawyers, and advisers are racing to cash in on fervent demand for fresh public offerings. The performance of recent IPOs, such as Zomato, has fed the enthusiasm. Newly listed Indian stocks are beating the benchmark Nifty 50 Index by more than 40 percentage points this year, the biggest gap in seven years. Oyo Hotels & Homes Pvt started work last week on its draft prospectus and aims to file in October, according to people familiar with the matter. The ride-hailing leader Ola and fintech startup Pine Labs Pvt have also begun talks with investment bankers, according to other people aware of the situation. Read more

Rolex rings lists at 1250 39 percent jump over IPO price

Monday, August 9, 2021
Auto components maker Rolex Rings based in Gujarat made its stock market debut on Monday with its shares listing at ₹1,250 per share on the NSE, surging nearly 39% premium over its issue price of ₹900 per share. It rallied up to Rs 1,264.95, up 40 percent. Analysts had expected it to debut with a 45-50 percent premium. The Rolex Rings was subscribed a massive 130 times by investors last month. Rolex Rings’ Rs 731 crore IPO was a mix of fresh issues of equity shares worth Rs 56 crore while the remaining Rs 675 crore was an offer for sale (OFS) by existing shareholders. The company's price band was fixed at ₹880-900 per share. The company is one of the top five forging companies in India, in terms of installed capacity The client base of Rolex Rings consists of leading global bearing manufacturers such as SKF, Timken, Schaeffler, NEI & NRB Bearings. Read more

Paytm to be the top 10 most-valued financial stocks in India

Friday, July 16, 2021
Digital payments major Paytm will be amongst the top 10 most-valued financial (banks included) stocks in the country when it gets listed later this year. According to investment banking sources, the company is looking at a valuation of between $20 billion and $25 billion in the initial public offering (IPO). The parent company of Paytm, One97 Communications, today(16th July 2021) filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India. The company is looking to raise Rs 8,300 crore by issuing fresh shares in its maiden stock market offering. The IPO will also comprise Rs 8,300 crore worth of secondary share sale from existing shareholders, including founder Vijay Shekhar Sharma, China’s financial powerhouse Ant Financial and e-commerce giant Alibaba. Read more

Paytm files draft paper for ₹16,600 crore IPO with SEBI

Friday, July 16, 2021
Paytm, digital payments and financial services firm has filed a draft red herring prospectus (DRHP) with market regulator SEBI, to launch Rs 16,600-crore IPO.The Paytm IPO would comprise a fresh issue of shares worth Rs 8,300 crore ($1.1 billion) and an equally large secondary share sale, the Noida-based fintech startup has told the Securities and Exchange Board of India (Sebi). On Monday, Paytm received the approval of its shareholders to raise capital through IPO, which is billed to be the country's biggest public offer of ₹16,000. "Shareholders have approved all the proposals at the extraordinary general meeting. The shareholders have approved the proposal to raise capital and the fresh issue of shares of up to ₹12,000 crore during the IPO. The secondary raise will bring the total to ₹16,600 crore," news agency PTI reported, citing a source. Read more

Zomato IPO subscribed 56% on Day One

Wednesday, July 14, 2021
The Rs 9,375 crore Zomato IPO saw a strong investor response today(14th July 2021) as the issue crossed the half-way-mark by 3 pm on the first day of bidding. By 3 pm, the issue had attracted bids for 39,98,37,165 shares, which was 56 percent of the issue size of 71,92,33,522 shares. “The average order value of food delivery is consistently growing at 10 percent for last 2 years for the company with a good market share. However, Zomato's valuation at 25 times FY21 EV/sales versus 10 times for global peers and 12 times for Indian QSRs look on the expensive side." experts say. The experts are of the opinion that the listed peer group trades at hefty valuations. "Even as no profits are generated, they can sustain those market valuations based on user experience, market position and tech platforms," thry said. Read more

Info Edge shares down 5 percent ahead of Zomato IPO launch from July 14-16

Tuesday, July 13, 2021
Shares of Info Edge (India) fell almost 5 percent to Rs 5138.15 per share in intraday trade on BSE on July 13 a day ahead of the Zomato IPO's opening for the public subscription.Info Edge holds a stake of about 18.55 percent in the food delivery platform. The share sale comprises a fresh issue of shares worth Rs 375 crore and an offer for sale of Rs 9,000 crore by its current promoter Info Edge India Ltd. Total of 65 lakh shares have been reserved for employees of the company. Zomato is all set to begin its listing journey on exchanges with an initial public offer (IPO) launch from July 14, 2021, which will be open for the next three days till July 16, 2021. The Rs 9375 crore IPO has a price range of Rs 72-76 per share.

Zomato prices its IPO at Rs 72-76 per share

Thursday, July 8, 2021
Major food delivery company Zomato has priced its initial public offer (IPO) at Rs 72-76 per equity share. The offer will open on July 14 and close on July 16. Investors can bid for a minimum of 195 Equity Shares and in multiples of 195 thereafter. The anchor investors will be allotted shares on July 13. The IPO is comprised of a fresh issue of shares worth Rs 9,000 crore and an offer sale of shares amounting to Rs 375 crore. It includes a reservation of 6.5 million shares for employees. At the top end of the price band, the company could raise Rs 9,375 crore and is valued at Rs 64,365 crore. The company plans to utilise the net proceeds from the IPO towards funding organic and inorganic growth initiatives. Read more

NTPC plans IPO for Rs 2.5 trillion expansion of renewables business

Friday, July 2, 2021
India’s largest power generator and State-run Company NTPC has plans to list its arm NTPC Renewable Energy Ltd in 2022-23, to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032, which entails a total investment of Rs 2.5 lakh crore, a source said. The Company did not disclose the quantum of money to be raised through the initial public offering (IPO) of the NTPC Renewable Energy but said that the equity component of the firm would be around Rs 50,000 crore and rest of the requirement would be met through long-term loans, debentures, bonds and other such modes. It’s intended to enable a dramatic transformation over the next decade for a company that relies on coal to produce the vast majority of its electricity. NTPC is aiming to double generation capacity to 130 gigawatts by 2032 and slash the share of fossil fuels in that energy mix to about half from 92% currently. Read more

TCS stock up 3000% since its IPO -Chandrasekaran

Friday, June 11, 2021
Tata Consultancy Services (TCS) has navigated the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm’s standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said, if an investor had invested in TCS IPO investor’s wealth would have increased by 3000% in 17 years. One share of TCS at a price of Rs 850 during the IPO in 2004 would be worth Rs 28000 today, giving shareholders a 3000% return on their investment. On the performance of the company, he said barring the first quarter of the fiscal year, the company delivered a sharp recovery. For FY21, TCS has returned Rs 33,873 crore in dividends and buyback to shareholders, resulting in a payout of 95 per cent of free cash flow.Chandrasekaran also recounted the contribution of FC Kohli, who led TCS during the initial 27 years, navigating multiple technology waves investing continuously in people and in research Read more

Zomato IPO: Growth versus profitability debate is on

Tuesday, June 8, 2021
Ahead of Zomato's initial public offering (IPO) planned later this year the growth versus profitability debate is heating up. According to analysts at Jefferies, while one set of investors are looking at Zomatos’ growth metrics even at the cost of medium-term profitability, the other camp is looking for a clear path to profitability going ahead. Potential competition from Amazon, Thrive, etc. is also on investors' minds and so is the dynamics between Zomato and Swiggy, they said. A few investors are concerned that Swiggy, given its unlisted status, may have less investor pressure on profitability versus Zomato, which will have public market shareholders,” note the experts. Read more

SEBI considering institutional investor-only IPOs to shield small investors from presumably risky issues

Thursday, May 27, 2021
SEBI is considering the concept of institutional investor-only initial public offerings (IPOs) to shield small investors from presumably risky issues by new-age technology and e-commerce firms. Regulatory and investment banking sources said the regulator is deliberating whether more steps are required to safeguard investors before it allows loss-making companies, such as food delivery company Zomato, to tap the public market. Banning direct retail participation and mandatory “safety net” are some of the concepts being discussed, according to the sources. Domestic IPOs, typically, have two broad equal quotas for institutional and non-institutional investors. The non-institutional portion is further split 70:30 between retail (those investing up to Rs 2 lakh) and high net-worth individuals (those investing more than Rs 2 lakh). Read more

Four IPOs worth Rs 4000 crore is expected to hit the market in a few weeks

Saturday, May 15, 2021
Four deals worth a cumulative Rs 4,000 crore is expected to hit the market over the next 3-5 weeks, said investment banking sources. Shyam Metalics, Dodla Dairy, Krishna Institute of Medical Sciences (KIMS) Hospitals, and Clean Science and Technology are among the companies planning to tap the market. While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant. Bankers said many new investors had taken a liking to IPOs — a big confidence booster for issuers. “The immediate volatility is not a concern. People are factoring in the next financial year numbers. Investors expect the next year to be normal and growth-oriented, giving comfort to issuers,” said Ajay Saraf, executive director, ICICI Securities. Read more

Zomato files for Rs 8,250 crore IPO

Wednesday, April 28, 2021
Food delivery aggregator and rating platform Zomato on April 28 filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 8,250 crore ($1.11 billion) through its Initial Public Offering (IPO) as consumers increasingly turn to order food online during the Covid-19 pandemic. Of this, Rs 7,500 crore will be a fresh issue, while Rs 750 crore will be an offer for sale for its existing investor Info Edge.Zomato said in the DRHP that it expects to use the funds raised through the IPO to fund its organic and inorganic growth initiatives, which include customer and user acquisition, delivery and technology infrastructure, and any new acquisitions. Kotak Mahindra Capital, Morgan Stanley India, Credit Suisse Securities India, BofA Securities India, and Citigroup Global Markets India are the lead book-running managers for Zomato's IPO. Read more

Nazara Technologies backed by Rakesh Jhunjhunwala makes strong opening

Tuesday, March 30, 2021
Shares of Nazara Technologies backed by Rakesh Jhunjhunwala made a robust opening on stock exchanges on Tuesday, listing at Rs 1,971, a 79 per cent premium over its issue price of Rs 1,101 per share on the BSE. The debutant stock had a market capitalization of Rs 6,002.25 crore on the listing. The Rs 583-crore IPO of Nazara Technologies was subscribed 176 times by investors. This is the first gaming company that has been listed on the stock exchanges. Nazara owns IPs, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games. Nazara Technologies had raised a whopping Rs 260 crore from anchor investor ahead of IPO launch. The company's IPO committee had decided to allocate 23,73,395 shares to 43 anchor investors at Rs 1,101 per piece. Read more

MARKET UPDATE:Sensex fell 600 points at 48,580 levels and Nifty gave up the 14,400-mark

Thursday, March 25, 2021
Bears tightened their grip today(25th March 2021), with the benchmark indices in India sliding over 1 percent in morning deals, ahead of the expiry of the March series derivative contracts. The S&P BSE Sensex fell 600 points, or 1.2 percent, at 48,580 levels and the Nifty50 index gave up the 14,400-mark. IndusInd Bank fell 2 percent and was the top Sensex laggard, followed by Axis Bank, State Bank of India, Bajaj Finance, and Maruti Suzuki (all down over 1%). Shares of Laxmi Organic listed at Rs 155.50 on the NSE, a premium of 20 percent over the issue price, while Craftsman Automation listed at 9 percent discount. All the Nifty sectoral indices, traded in the red, with the Nifty PSU Bank index, down 2 percent, bleeding the most. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 1.1 percent, each. Read more

Barbeque Nation IPO to open on March 24th

Monday, March 22, 2021
Casual dining restaurant chain Barbeque Nation Hospitality’s IPO opens on Wednesday on March 24 with an issue price of Rs 498-500 per share. The three-day public issue will conclude on March 26, according to the company. Barbeque Nation Hospitality is backed by private equity investor CX Partners and renowned stock market investor Rakesh Jhunjhunwala's investment firm Alchemy Capital. The initial public offer comprises a fresh issue of shares worth Rs 180 crore and an offer-for-sale of up to 54,57,470 equity shares. According to data on stock exchanges, the Barbeque Nation IPO market lot size is 30 shares. The minimum order quantity of the IPO is 30 shares. A retail investor can apply for a maximum of up to 13 lots, specifically 390 shares or ₹ 195,000. The shares are proposed to be listed on stock exchanges BSE and NSE. The date of the listing is not decided as yet. Read more

MTAR Technologies make strong debut

Monday, March 15, 2021
MTAR Technologies made a solid market debut on Monday, as the scrip got rose to Rs 1,150 on BSE. It opened at Rs 1,050, an 83 per cent premium over the issue price of Rs.575.The ₹597-crore initial public offering (IPO) of MTAR Technologies, which was open between March 3 and March 5, was subscribed more than 200 times. The price band was fixed at ₹574- 575 per equity share. The IPO received bids for 145.79 crore equity shares against an offer size of 72.6 lakh equity stocks, translating into a subscription of 200.79 times.MTAR Technologies has announced that the proceeds from the fresh issue will be used to repay debt, fund long-term working c MTAR Technologies is engaged in the manufacture of mission-critical precision components with close tolerances, and in critical assemblies. It has seven manufacturing facilities, including an export-oriented unit located in Hyderabad, Telangana, and has been servicing the defence, aerospace and energy sectors for more than four decades. Read more

Anupam Rasayan India coming with an IPO to raise upto Rs 752 crore

Wednesday, March 10, 2021
Surat-based Anupam Rasayan is one of the leading companies engaged in the custom synthesis and manufacturing of speciality chemicals in India. The issue opens on 12 Mar 2021 and closes on 16 Mar 2021. The Price Band is Rs 553-Rs 555 and the Market Lot size is 27 shares and the multiple thereof. The Issue Size is Rs 760 cr and the total number of shares offered are 13,693,693. The shares will be listed on BSE as well as NSE. The issue by the speciality chemicals company comprises entirely fresh issuance of shares and the net proceeds would be utilised towards repayment or prepayment of certain indebtedness and for general corporate purposes. The post-issue implied market capital is pegged at Rs 5,527-5,544 crore. Read more

Mrs Bectors IPO fully subscribed on day 2

Wednesday, December 16, 2020
The IPO of bread and biscuits maker Mrs Bectors Food opened on 15th December to strong demand and was oversubscribed in just two hours. The issue will close on December 17 with a price band of Rs 286-288 per share. Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares. The Rs 541 crore initial public offer attracted over 12.05 times and 11.53 times subscription on Day 2 of the bidding process so far. The IPO consists of a fresh issue of Rs 40.54 crore and an offer for sale of Rs 500 crore by public shareholders. "Mrs Bector IPO is priced lower compared to the peers on the valuation front making it a strong candidate for stellar listing. The funds raised through the IPO will be utilised for brown-field expansion of its Rajpura manufacturing unit and establishing a new production line. Read more

Burger King shares debut at 131% premium to issue price

Monday, December 14, 2020
Shares of Burger King India (BKIL) the Indian subsidiary of the US-based made a strong debut on Monday gaining 131 per cent premium of Rs. 138 against its issue price of Rs 60 on the BSE. Burger King’s initial public offering was massively oversubscribed by investors across categories earlier this month. Overall, the issue was subscribed 156 times, making it the second most subscribed IPO of 2020. Quick service restaurant (QSR) offers good long-term opportunity, suggested by the management’s growth plan and the FY21 performance so far. The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes. The QSR chain owned by QSR Asia continued to report losses in previous financial years but there has been strong growth in revenue and stable gross margin performance. Analysts say investors can book profits of half of the investment amount in short term and hold the rest for the long term.

Burger King enters IPO to open on December 2

Friday, November 27, 2020
A quick-service restaurant chain Burger King India enters into the initial public offering (IPO) which will open on December 2, for three days. The US-based fast-food major’s India unit has set the price band for the IPO at Rs 59-60 per share in a lot size of 250 shares and multiples thereafter. Burger King aims to raise Rs 810 crore through the issue which comprises a fresh issue of shares worth Rs 450 crore, and an offer for sale of up to 60 million shares by promoter entity QSR Asia Pte Ltd worth Rs 360 crore, at the upper end of the price band. The company would utilise fresh issue proceeds for funding roll-out of new company-owned Burger King Restaurants and general corporate purposes. The company had undertaken a pre-IPO placement, by way of the rights issue, of Rs 58.08 crore at a price of Rs 44 per share to a promoter and preferential allotment of Rs 91.92 crore at a price of Rs 58.50 per share. Read more

Jack Ma's blunt words just cost him $35 billion

Wednesday, November 4, 2020
Two weeks ago, Ma opined on China’s banking system at a high-profile financial forum in Shanghai, throwing himself into the eye of the storm. In that speech, apart from labeling the global banking Basel Accords as an “old people’s club,” Ma said “systemic risk” is not the issue in China. Rather, China’s biggest risk is that it “lacks a financial ecosystem.” Chinese banks are like “pawn shops”, where and guarantees are the hard currencies. As a result, some decided to go so big they are not allowed to fail. “As the Chinese like to say, if you borrow 100,000 yuan from the bank, you are a bit scared; if you borrow a million yuan, both you and the bank are a little nervous; but if you take a 1 billion yuan loan, you are not scared at all, the bank is,” Ma said. Read more

Angel Broking IPO subscribed 3.9 times for final day

Thursday, September 24, 2020
The initial public offer of Angel Broking has been subscribed 3.9 times on September 24, the final day of bidding, backed by retail investors. The Rs 600-crore initial public offering of Angel Broking was subscribed nearly 2 times on the National Stock Exchange (NSE) and BSE on Wednesday, the last day for bidding. The IPO has received bids for 2.43 crore equity shares against an offer size of 1.37 crore equity shares, the data available on exchanges showed. The offer received a bumper response from retail investors who have subscribed the issue 3.4 times so far on Day 3 of the issue. However, the IPO failed to get any subscription from Qualified Institutional Buyers (QIB). The IPO consists of a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore by promoters and investors. Angel Broking is one of the largest independent full-service retail broking house in India which was incorporated in 1996 in terms of active clients. Read more

Ashok Soota's Happiest Minds IPO scroes in second innings

Friday, September 11, 2020
Ashok Soota, a pioneer of India’s information technology services industry, has headed three outsourcing companies including one of the nation’s largest, Wipro Ltd., and taken two of them public. Happiest Minds Technologies' was the latest startup, which was oversubscribed 151 times and was founded in the year 2011 when he was 68. The Rs 700-crore initial public offer (IPO) of his IT service company, making it the eighth biggest IPO of the last decade. The IPO of the Mumbai-headquartered digital IT services provider was subscribed 351.5 times by non-institutional investors and 77.4 times by Qualified Institutional Buyers (QIB) during September 7-9. Retail demand for the issue was strong as well, garnering 70.94 times subscription. Happiest Minds, which gets almost all of its revenue from digital services, is one of two IPOs this week to woo Indian investors. About 13 years ago, he took his previous company, Mindtree, to an IPO, and that issue was oversubscribed 103 times. Read more

Rossari Biotech shares surge about 65% on market debut

Thursday, July 23, 2020
Shares of Rossari Biotech made a strong debut by listing at Rs 670, a 58 per cent against its issue price of Rs 425 per share on the BSE on Thursday and rallied 64 per cent to hit a high of Rs 698 on the exchange. The company's nearly Rs 500-crore maiden offer was subscribed 79 times on the final day of bidding, according to data available on the exchanges. Its promoter shareholding has now fallen to 73% from 95%. The ₹496-crore IPO received bids for 64,87,33,645 shares against the total issue size of 81,73,530 shares, according to data available with the NSE. Rossari Biotech had raised ₹149 crores from anchor investors. Rossari is among the largest manufacturers of textile speciality chemicals in India. It also manufactures acrylic polymers. The company offers three main product categories -- namely home, personal care and performance chemicals; textile speciality chemicals and animal health & nutrition products.

Fin Min invites bids for advising it on the proposed initial public offer of LIC

Friday, June 19, 2020
The Finance Ministry today (19th June 2020) Kick-started the process of LIC disinvestment, by inviting bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed initial public offer. The government proposes to engage up to two pre-IPO transaction advisors, for assisting the Department of Investment and Public Asset Management (DIPAM) in the preparatory processes leading to the Initial Public Offer (IPO) of Life Insurance Corporation of India (LICI), tipped to be the largest ever in the country. The advisors can submit their bids from today till July 13, 2020. The bids would be opened by DIPAM on July 14. Read more

SBI Card IPO to open on March 2, band fixed at Rs 750-755

Friday, February 28, 2020
The first big IPO of 2020 is also one of the most awaited. Top lender State Bank of India said the issue of SBI Cards will open for subscription on March 2 and close on March 5 and payment Services has been fixed in the price range of Rs 750-755 per share. The IPO comprises a fresh issue of Rs 500 crore, while the offer for sale would see the promoters offload 13 crore shares. At the higher end of the price band, the SBI Cards IPO is expected to raise around Rs 9,000 crore, making it the fifth-largest IPO so far. An employee discount of Rs 75 per share will be offered to eligible employees, said SBI in a regulatory filing on Tuesday. The bid lot for the IPO has been finalized to 19 shares and in multiples thereafter.