City Axis Financial News

₹2,500 crore through the public issue, which is the highest so far this year. ICICI Securities, Axis Capital, HDFC Bank, and IIFL Securities are the appointed book-running lead managers for the issue.

Atul Mehra has resigned from his position as joint managing director at JM Financial Services after a 33-year tenure in the group, the company said in a filing with the stock exchanges on Saturday.

₹720 apiece on the National Stock Exchange (NSE), a premium of 37.40% to the issue price of ₹524 per share. On BSE, Azad Engineering shares began trading at ₹710.00 apiece, witnessing a premium of 35.50% to the issue price. Azad Engineering IPO received strong demand from investors across all categories as the public issue was subscribed 83.04 times in total.

₹1001.25 apiece on the BSE, a premium of 17.79% to the issue price of ₹850 per share. On NSE, Happy Forgings shares price began trading at ₹1,000 apiece, a premium of 17.64%. The initial public offering (IPO) of Happy Forgings was launched on December 19 and the bidding process ended on December 21.

₹275.30 apiece on the National Stock Exchange (NSE), a discount of 5.39% to the issue price of ₹291.00 per share. On the BSE, Muthoot Microfin share price began trading with a discount of 4.47% at ₹278.00 apiece. Muthoot Microfin IPO listing date was fixed for December 26.

The IPO of Azad Engineering was subscribed 80.6 times on the last day of the bidding process. The category reserved for QIB was subscribed the most at 179 times, followed by NIIs at 87 times.

Ola Electric, is set to sell around 47.4 million shares in the SoftBank Group-backed e-scooter maker, as per the company's preliminary draft papers filed with SEBI on December 22. The proposed issue includes a fresh equity share release of up to ₹5,500 crore and an offer for sale (OFS) of 95,191,195 equity shares at a face value of ₹10.

₹1,008.59 crore from the IPO that will end on December 21. Let us check Happy Forgings IPO subscription status, GMP today and other key details: The ₹1,008.59 crore worth Happy Forgings IPO opened for subscription on December 19 and will close on December 21. The IPO comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares.

1) Happy Forgings IPO Dates: Happy Forgings IPO opens for subscription on Tuesday, December 19, and will close on Thursday, December 21. The IPO allotment is expected to be finalized on December 22.

Neelkanth Mishra, Chief Economist, Axis Bank & Head of Global Research, Axis Capital, says the turn in the capital injection cycle has become visible. Now we are seeing cement volume growth picking up. We are starting to see early signs of shortages in the power generation sector, which gives us some comfort that trend growth as we think about the next five years is going to be well above 7%. Those are the reasons why growth numbers will be upgraded.” Your report talks about a positive surprise as far as India’s growth is concerned. In fact, it is not just you. RBI Governor too this time around raised the outlook on GDP growth and why not? The last reading on quarterly GDP was a big surprise. What are the elements of this outperformance on growth which you are talking about going forward? There are three major points here. The first is that I think the capital injection slowdown or rather the slowdown in capital formation that happened pre-Covid has already brought down trend growth assumptions and that I think was a mistake. Most people thought this means that India's economy is no longer capable of growing even at 7% and that it should be more like 6-6.5%.

₹650 crore through an initial public offering (IPO). The proposed issue is entirely an offer for sale (OFS) of equity shares by promoters and other selling shareholder, according to the company's Draft Red Herring Prospectus (DRHP). The OFS comprises the sale of shares worth up to ₹100 crore by Bipinbhai Vithalbhai Hadvani, up to ₹540 crore by Gopal Agriproducts Pvt Ltd, and up to ₹10 crore by Harsh Sureshkumar Shah.

Flair Writing Industries has set the price band for its upcoming initial public offering (IPO) at Rs 288-304. The company plans to raise Rs 593 crore through the three-day issue which will open for subscription on November 22, Wednesday. Under the issue, the pen and writing instruments maker will issue fresh equity shares worth up to Rs 292 crore while an offer for sale (OFS) where equity shares worth Rs 301 crore will be offloaded by the existing shareholders. The retail portion has been reserved at 35%, where the investors can subscribe a minimum of one lot or 49 shares and in multiples thereof.

ASK Automotive, a manufacturer of advanced braking systems, was subscribed 51.02 times on the final day. The portion reserved for qualified institutional buyers was subscribed 142.41 times, while the non-institutional or high-net-worth investors' segment was subscribed 35.47 times.

TBO Tek, a leading travel distribution platform, has filed its draft red herring prospectus with Sebi for an IPO consisting of a fresh issue of ₹400-crore and an offer for sale of up to 15.6 lakh shares. Funds will be allocated towards fuelling growth, expanding the network of buyers and suppliers and undertaking acquisitions, according to offer documents.

Honasa Consumer IPO: The Initial Public offering (IPO) of Mamaearth parent Honasa Consumer Limited hit primary market today. This means, subscription for the Mamaearth IPO has opened today and it will remain open for bidding till 1st November 2023.

Manik Taneja, Executive Director- IT Services, Axis Capital, says tier-1 techs in particular, held onto the margins quite well. In fact, margins were flat to an improvement trajectory on a year-on-year basis across each of the tier-1 companies. But that needs to be seen in the context of the fact that some of them also deferred or delayed wage implements, so it may not be a like-to-like comparison. Most IT companies have trimmed their guidance. Only LTI MindTree, Tata Elxsi and HCL Tech have better commentary coming in for the second half of the year. If you could just give a broad-based view on what you are making of the numbers so far and what should we be expecting in the second half? When you look at the broader universe this quarter, and I am talking about both the tier-1 companies as well as the tier-2 techs, most companies have just about managed to meet modest expectations or in some cases disappointed from a growth standpoint. Tier-1 techs in particular, held onto the margins quite well. In fact, margins were flat to an improvement trajectory on a year-on-year basis across each of the tier-1 companies. But that needs to be seen in the context of the fact that some of them also deferred or delayed wage implements, so it may not be a like-to-like comparison.

₹2,000 crore initial public offering, according to two people aware of its plans. “It is also likely to appoint Citi and Axis Capital as managers for the issue," one of the two people said, seeking anonymity. The company had filed its draft prospectus with Securities and Exchange Board of India (Sebi) in July 2021, but subsequently shelved its plans citing market conditions.

₹740 crore through an initial public offering (IPO). The company's IPO comprises a fresh issue of up to ₹240 crore and an offer-for-sale (OFS) of equity shares aggregating up to ₹500 crore by a promoter and investors, according to the draft papers.

Fincare Small Finance Bank has received market regulator Securities and Exchange Board of India's approval for its proposed initial public offer. The bank plans to raise up to Rs 625 crore by issue of equity shares of face value Rs 10. Fincare SFB applied for the IPO afresh in May. It initially filed draft papers last year but needed to refile the proposal with a fresh set of numbers as Sebi sought more information. The IPO also includes offer for sale (OFS) by promoters and other investors.

₹113 to ₹119 per equity share of face value of ₹2 each. JSW Infra IPO raised ₹1,260 crore from anchor investors on Friday, September 22. JSW Infrastructure Limited IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

Moneycontrol, the pharma company is in talks with four investment banks to prepare for a listing in 2024. In April this year, Akums' top executives had told Mint that they were working towards a stock market listing in two to three years. Joint managing director Sanjeev Jain at Akums told Mint in an interview, "We are planning an initial public offering (IPO) in a span of 2-3 years".