Tag: ipos

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

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

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

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