IPO Financial News

Rashi Peripherals listed with a 9% premium on the exchanges on Wednesday, which was largely in line with expectations. The IPO received an overwhelming subscription of 63 times at close. Despite a premium listing, the muted opening was due to the highly competitive market environment in which the company is operating and also the current market sentiments.

₹1,800 crore and is entirely a fresh issue. Also read: Ixigo's parent Le Travenues Technology refiles draft papers with SEBI to raise funds via IPO Juniper Hotels stands as a leading luxury hotel development and ownership entity, boasting the largest ownership share, by the number of keys, of 'Hyatt' affiliated hotels in India as of September 30, 2023.

Polysil Irrigation Systems IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) Polysil Irrigation Systems concluded on Tuesday, February 13, 2024 and the allotment status has been finalised today (Wednesday, February 14). The investors who applied for the issue can check the Polysil Irrigation Systems IPO allotment status in the registrar's portal, which is Bigshare Services Pvt Ltd.

₹120 crore and an offer-for-sale (OFS) of 6,66,77,674 equity shares by existing shareholders, according to the draft red herring prospectus (DRHP) submitted on February 14. Also read: Vibhor Steel Tubes IPO receives phenomenal response on the second day, subscribed 101.42 times; GMP drops Among the existing shareholders, SAIF Partners India IV and Peak XV Partners Investments V (previously known as SCI Investments V) will be the primary sellers in the OFS of the professionally managed company, offering 1.94 crore and 1.3 crore equity shares, respectively.

₹4,200 crore by the end of this year, with an anticipated growth to ₹5,500 crore by the end of fiscal year 2024-25 (FY25). This growth trajectory will help set the stage for the company to consider an initial public offering (IPO), said Sanjay Sharma, the company’s founder and managing director. “We will look at it (IPO) not in the next financial year, but the year after that.

Also Read: Vibhor Steel Tubes IPO receives stellar response from investors; should you subscribe? Vibhor Steel Tubes IPO subscription begun on Tuesday, February 13, and will end on Thursday, February 15. The Vibhor Steel Tubes IPO received an enthusiastic response from retail and non-institutional investors (NIIs), and within an hour of opening, it was fully booked.

Capital Small Finance Bank made a disappointing debut on the bourses on Wednesday, mainly on account of muted investor sentiments and current sluggishness in the market. The stock has listed at an 8% discount as against an issue price of Rs 468.

Juniper Hotels, which runs hotels under the «Hyatt» brand, announced the dates for its maiden public offer on Wednesday. The Rs 1,800-crore issue will open for subscription on February 21 and close on February 23. The IPO with a face value of Rs 10 is entirely a fresh equity with no offer for sale (OFS) component. The price band for the public offer will be announced soon.

On a year-on-year basis, the value of such investments rose 26 per cent from USD 584 billion in December 2022.

₹396 apiece on the BSE, a discount of 4.35% to the issue price of ₹414 per share. On NSE also, the stock began trading with a discount of 4.35% at ₹396 apiece. However, soon after the listing, Jana Small Finance Bank shares succumbed to selling pressure and declined over 7% from listing price.

₹1,798.75 apiece on BSE, and touched an intraday low of ₹1,683 apiece. According to analysts, MTAR Tech share is one of the underperforming stocks and has seen a sharp selloff in the last couple of weeks.

Non-Convertible Debenture (NCD) IPOs. Investors must understand NCD IPOs and how they differ from equity IPOs. NCDs are corporate debt instruments similar to bonds, but unlike bonds, they cannot be converted into equity shares.

₹72 crore initial public offering (IPO) of Vibhor Steel Tubes received a remarkable response from investors on its first day of bidding, with subscription reaching 27.63 times. Opened on February 13, the bidding attracted bids for 9.92 crore shares against the available 35.92 lakh shares. The IPO will remain open until February 15.

₹109.3 crore as against ₹103.3 crore in the year-ago period. Meanwhile, its revenue from operations jumped 23.3 percent to ₹1,652.2 crore in Q3FY24 versus ₹1,339.6 crore in Q3FY23. On the operating front, the jewellery maker's EBITDA advanced 11.3 percent to ₹181.1 crore in the December FY24 quarter as compared to ₹162.7 crore in the December FY23 quarter.

Ajay Kanwal, MD & CEO, Jana SFB, says: “Our September 23 NIM was also 7.8%, March was 7.7%. So, we maintained the flattish NIMs growth. We have seen a small rise in cost of funds but thanks to a product mix we are able to make sure the NIMs remain steady. Depending on the outlook on interest rates which I think is now flattish, we should be able to maintain the NIMs at these levels.” Let us begin with this IPO plan. You have raised Rs 462 crore via the fresh issue. How will that impact your CET ratio? What has been the response from your anchor investors? And congrats on the listing. Ajay Kanwal: We raised Rs 575 crore in total; Rs 472 crore in public issue prior to that, pre-IPO. Our CET ratio was 17.5% as of September. So now, we will go into the early 20s. So 20 to 23% odd, once we add this capital base too. Like we mentioned in our prospectus, the money will be used to augment our tier 1 capital at the bank, which anyway is strong. And of course, it will go towards the growth of the bank.

₹339.50 per share, 9.16% higher than the issue price of ₹311. On BSE, Rashi Peripherals share price today was listed at ₹335 apiece, up 7.72% than the issue price.

Post the allotment, the company saw a jump in its GMP and is currently at Rs 175, more than double that of the issue price. The IPO was priced at Rs 115 at the upper end.

Jana Small Finance Bank debuted with a discount of 4.35% on the exchanges on Wednesday. The stock listed at Rs 396 on BSE as against an issue price of Rs 414. Ahead of the listing, the company's shares traded with a premium of Rs 30 in the unlisted market.

₹430.25 on NSE, an 8 percent discount to its issue price of ₹468. Meanwhile, on BSE, the stock fell 7 percent from its issue price to list at ₹435. The ₹523.

₹396 apiece on the BSE, a discount of 4.35% to the issue price of ₹414 per share. On NSE, Jana Small Finance Bank shares were listed with a discount of 4.35% at ₹396 apiece. Jana Small Finance Bank raised ₹570 crore from the recently concluded initial public offer (IPO) which comprised a fresh issue of 1.12 crore equity shares aggregating to ₹462 crore and an offer for sale (OFS) of 26.08 lakh shares aggregating to ₹108 crore.

Capital Small Finance Bank debuted with a discount of 7% on the exchanges on Wednesday. The stock listed at Rs 435 on BSE as against an issue price of Rs 468. Meanwhile, the stock listed at Rs 430.20, down 8% on NSE. Ahead of the listing, the company's shares traded flat in the unlisted market.