City Axis Financial News

ICICI Securities, IIFL Capital and Axis Capital as advisors, a report by Moneycontrol said, quoting multiple industry sources. However, the quantum of the fund raise through the IPO hasn't been finalized yet and may vary later, the report added. Awfis IPO would be the first public issue in the domestic markets by a co-working space provider.

Neelkanth Mishra, Chief Economist, Axis Bank; Head of Global Research, Axis Capital, says coming to “investment themes, I am observing that because everyone wants to invest in defence and railways, there is a very steady rise in price-to-earnings multiples without an appropriate visibility on what is happening with their own order books. Will they be able to participate in this? Will they be able to compete in this? Even on something like electronics, there is a very good probability that India's electronics ecosystem will continue to grow.”Capex seems to be focused around infrastructure development. Road has been a resounding success. Now it is tilting towards defence and railways. While the shift is happening, equity markets have been mighty excited. We know about the rally in defence, railway and shipbuilding stocks. What is the right way of understanding these government commitments towards shipbuilding, road, defence, railways? Can you connect the equity market outlook?The central government can control these sectors directly. National highways, railways, defence are central subjects and this is where the central government can play a big role. On the road side, it is unreasonable to expect that if you are already doing 15,000-16,000 km a year, you will be able to do much more than 18,000-20,000 km a year. So incremental growth in terms of the pace of construction at the national highway level may not really accelerate from here.

₹113 -119 per share for its initial public offering (IPO) which will open for bidding on 25-27 September, the company said on Monday. The Sajjan Jindal-led port business is looking to raise ₹2,800 crore through the IPO and will offer a fresh issue of shares as there will be no dilution of the promoter’s existing equity. According to an advertisement, Sajjan-Jindal and family trust hold the majority stake as the promoters.

The IPO, which is a first from JSW Group in nearly 13 years, is completely a fresh issue of shares worth Rs 2,800 crore. The company had filed the draft prospectus with Sebi in May this year. JSW Infrastructure is the fastest growing port-related infra company in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. The company's business operations expanded from one port concession at Mormugao Port Trust in Goa (acquired by JSW in 2002 and commenced operations in 2004) to nine port concessions across the eastern and western coast of India, making it a well-diversified maritime ports company. The nine port concessions have an installed cargo handling capacity of 158.43 MTPA as of June 2023.

₹2,800 crore IPO by the end of this month. As per reports, the JSW Infrastructure IPO will open on September 25 and close on September 27. Also Read: JSW Infra gets Sebi nod for its ₹2,800 crore IPO The ports business of the $23 billion JSW Group had filed draft papers for its IPO in May, aimed at retiring debt and fund its capacity expansion plans.

IPO) to Rs 730 crore ($88 million) from Rs 1,000 crore an updated prospectus showed. The IPO comprises a fresh issue of shares worth Rs 6.03 billion and Rs 1.27 billion worth of shares being offered by the company's existing shareholder International Finance Corporation, a World Bank Group member, according to the prospectus dated September 12. «A high-interest rate environment to tackle inflation poses a major challenge to both homebuyers and developers...believe these are among the reasons Signature Global would have reduced offer size,» said Prashanth Tapse, senior vice president of research at Mehta Equities. The company develops residential, commercial and retail projects mainly in the northern cities, including Gurugram, Karnal and Ghaziabad. Its consolidated loss after tax narrowed to Rs 638.6 million for the financial year ended March 31 from Rs 1.16 billion a year earlier. Revenue from operations surged more than 72% to Rs 15.54 billion. The offering comes at a time when benchmark index Nifty 50 scaled record highs, aided by the inflow of funds from foreign and domestic investors. Signature joins companies like Mankind Pharma and Aeroflex Industries, which recently made stellar debuts on improved domestic appetite for new listings. ICICI Securities, Axis Capital and Kotak Mahindra Capital were book-running lead managers for Signature Global's IPO. The bidding date for anchor investors is set for Sept.

Actis is looking to monetise a portfolio of operating road assets that it owns in India through an infrastructure investment trust (InvIT), potentially raising as much as ₹1,500-₹2,000 crore, said two sources aware of the development. Last year, Actis acquired a portfolio of six roads — five hybrid annuity model (HAM) properties and one build operate and transfer (BOT) road — from Welspun Enterprises for an enterprise value of ₹6,000 crore ($775 million). This was the first set of roads that Actis bought in India after expanding into the roads sector, following its success in the renewable industry where it has sold two large platforms — Sprng Energy and Ostro Energy. The six roads were acquired by Actis' Long Life Infrastructure Fund, which seeks to invest in stabilised operating assets within multiple infrastructure sectors and deliver a strong cash yield for investors.

₹983-1,035 per share. At the upper end of the price band, RR Kabel aims to raise ₹1,964 crore from the IPO. The IPO comprises fresh issue of equity shares worth ₹180 crore and an offer for sale (OFS) of 1.72 crore equity shares worth ₹1,784 crore by the promoters and investors.

The company received approval from Sebi in the last week of August. The fresh issue size in the offer has been reduced to Rs 180 crore from Rs 225 crore earlier. The IPO also includes an offer for sale (OFS) segment of up to 1.72 crore equity shares.

offer for sale of up to 2,21,10,955 equity shares (Face Value of ₹ 2) by Promoter selling shareholder and other selling shareholder (“Offer for sale")," the company said in a statement. The OFS will constitute up to 10.44 million shares by Siddharth Jain, up to 5 million shares each by Pavan Kumar Jain and Nayantara Jain, up to 1.2 million shares by Ishita Jain and 2.3 lakh shares by Manju Jain.

Cryogenic tank maker Inox India Ltd has filed preliminary papers with capital market regulator Sebi to mop up funds through an initial public offering.

Pyramid Tecnoplast IPO: The initial public offering (IPO) of Pyramid Tecnoplast Ltd opened for subscribers on 18th August 2023 and it will remain open for bidders till 22nd August 20223. This means, investors have just one day in hand to apply for the public issue as bidding for the issue will end on Tuesday evening i.e. today.

Axis Bank and Head of Global Research, Axis Capital, has been appointed the part-time chairman of the Unique Identification Authority of India (UIDAI). Nilesh Shah, Managing Director, Kotak Mahindra Asset Management Company Limited, and Prof Mausam, Associate Professor, Computer Science Department, IIT Delhi, will become part-time members.

₹1,200-1,300 crore through an initial public offering (IPO). According to the Happy Forgings’s DRHP, the IPO comprises a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of up to 80.55 lakh shares by a promoter and a selling shareholder. Ludhiana-based Happy Forgings may also consider a pre-IPO placement of shares aggregating up to ₹100 crore.

The retail category was subscribed the most at 6.02 times, followed by non-institutional investors at 1.72. The part reserved for qualified institutional buyers was subscribed just 47% on Day 3. According to market sources, the company's shares are commanding a premium of Rs 3 in the unlisted market.

₹400 crore and an offer-for-sale (OFS) of 1.3 crore equity shares by promoters, promoter group members, and existing shareholders. Under the OFS, two investor shareholders -- India Advantage Fund S4 I and Dynamic India Fund S4 US1 -- will be offloading shares, apart from promoters. The proceeds of the initial public offering will be used to fund capital expenditure for setting up of manufacturing facilities, payment of loans, and general corporate purposes.

Axis Bank said in a public announcement that it will raise its stake in Max Life to 16.22% from 9.99%by infusing ₹1,612 crore through a preferential allotment of shares. Meanwhile, Axis Bank shares opened flat with a negative bias.

₹1,612 crore through a preferential allotment of shares. Axis Bank, along with its entities (Axis Securities and Axis Capital), acquired a 12.99% stake in Max Life in 2021, and through this new investment, they will own 19.02% in the insurer.

IPO) of TVS Supply Chain Solutions will open for public subscription on Thursday. The company has fixed a price band of ₹187 -197 per share for the issue, which will close on Monday.

₹187-197 per share. The ₹880-crore TVS Supply Chain IPO will open for public subscription on August 10 and close on August 14. The bidding for anchor investors will open on August 9, the company said.

capital market regulator’s approval for the launch of IPO in July. Read here: TVS Supply Chain Solutions gets Sebi's nod for IPO launch.