IPO Financial News

EPACK Durable IPO: In the wake of the stock market holiday announced on Monday for Ayodhya Ram Mandir 'Pran Pratishtha' celebrations across the nation, the subscription date of EPACK Durable Limited has been extended to 24th January 2024. Earlier, EPACK Durable IPO subscription date was announced from 19th January 2024 to 23rd January 2024. But, after the announcement of the trade holiday on 22nd January 2024, the EPACK Durable IPO subscription date has now been extended to 24th January 2024.

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Medi Assist IPO: The listing date of the initial public offering (IPO) of Medi Assist Healthcare Services Ltd has been fixed on 23rd January 2024. As per the information available on the Indian exchanges, shares of Medi Assist Healthcare Services Ltd are going to list on BSE and NSE in a special pre-open session on 23rd January 2024 i.e. on Tuesday this week.

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recorded their worst week in over two months clocking the biggest weekly losses, tracking mixed earnings and muted global cues. After the subdued start, a sharp cut in the middle derailed the momentum however, resilience in the select heavyweights in the final sessions trimmed losses. Nifty Bank also recorded biggest weekly fall in a year.

Medi Assist Healthcare IPO has been finalised and investors are awaiting the listing, which will be on January 23. Post the IPO allotment, the company's shares saw a bump in GMP in the grey market to Rs 29.

Medi Assist IPO: What GMP signals as listing date fixed on 23rd January Medi Assist Healthcare's public offering garnered a robust subscription, reaching 16 times the offered shares by the closing date. The company is now preparing for listing on January 23. Concurrently, the IPO for Epack Durables commenced on January 19, with bidding available until January 23 for interested investors.

₹745 crore through an Initial Public Offering (IPO). The proposed IPO consists solely of a fresh issue of equity shares, with no component involving an Offer-For-Sale (OFS), as outlined in the DRHP filed on Thursday. Also read: Upcoming IPOs: 1 main board, 5 SME public issues to open next week; check full list here Approximately 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

«Nifty concluded the week at 21,571.80, marking a decline of 323 points from 21,894 levels, on a weekly basis. Pharma, realty, and metal sectors faced selling pressure. Despite persistent attempts to breach crucial resistance, each of them resulted in a sell-off,” Om Mehra, Technical Analyst, at SAMCO Securities said. The market exhibited a consolidative trend within the 21,500-21,750 range, indicative of a sideways movement going ahead, Mehra said, adding that weekly support stands firm at 21,400 levels while the upper Bollinger band poses resistance at 21,850. Factors that are likely to impact movement when markets reopen this week:

Bansal Wire Industries has filed a draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an IPO. The issue is entirely fresh equity of Rs 745 crore with no offer-for-sale component. The public offer is being made through the book-building process, wherein about 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors. The company proposes to use the funds from the IPO to repay some of its debt, meet working capital requirements and for other general corporate purposes. Bansal Wire is the largest stainless steel wire manufacturing company and the second largest steel wire manufacturing company by volume in India with a production of 72,176 MTPA and 206,466 MTPA, respectively, in FY23. The company has a diversified portfolio, catering to a wide range of sectors such as automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture and auto replacement. It manufactures over 3,000 stock-keeping units — the highest among all steel wire manufacturers in India with sizes ranging from as thin as 0.04 mm to as thick as 15.65 mm. With a well-diversified base of more than 5,000 customers spanning various sectors, Bansal Wires Industries has established a robust network that contributes to its growth. Over the years, the company has adopted a de-risking strategy, under which no single customer accounts for more than 5% of its sales, and no sector or segment constitutes more than 25% of the sales. The total income has increased at a CAGR of 28% from Rs 1,480 crore in FY21 to Rs 2,422 crore in FY23.

Machinery maker Megatherm Induction on Saturday said it has fixed a price band of Rs 100 to Rs 108 per share for its Initial Public Offering (IPO).

By Echo Wang and Anirban Sen

Medi Assist IPO: The listing date for the initial public offering (IPO) of Medi Assist Healthcare Services Limited has been fixed on 23rd January 2024 i.e. on Tuesday next week.

₹331 whereas IPO of Medi Assist Healthcare Services Limited got subscribed by 16.25 times. -IPRU MF, SBIMF, WOC AMC, Motilal Oswal AMC and Groww AMC have launched the NFOs for IPRU Nifty50 Value 20 Index Fund, SBI Nifty50 Equal Weight Index Fund, WOC Banking & Financial Services Fund, WOC Pharma & Healthcare Growth Fund, Motilal Oswal Large Cap Growth Fund and Groww Banking & Financial Services Growth Fund.

₹186 to ₹192 per equity share. delaPlex IPO will open for subscription on Wednesday, January 24, and close on Monday, January 29.

Buy or sell stocks for today: Generally, the Indian stock market remains closed on Saturday and Sunday but on 20th January 2024, dealing on Dalal Street will take place from 9 AM to 3:30 PM. The decision has come ahead of the Ram Temple ‘Pran Pratishtha’ ceremony in Ayodhya on Monday, January 22. So, the stock market in India will remain closed on the following Sunday (21st January 2024) and Monday (22nd January 2024).

₹ 43.14 crore from anchor investors ahead of its initial public offering (IPO). The company allocated more than 1.05 crore equity shares at ₹ 41 per share to anchor investors, Nova Agritech informed the stock exchanges. “Foreign and Domestic Institutions who participated in the anchor were Quantum-State Investment Fund, Neomile Growth Fund, AG Dynamic Funds Limited and Saint Capital Fund," said Nova Agritech in a statement.

BSE SME with tentative listing date fixed as Monday, January 29, 2024. Euphoria Infotech India IPO was subscribed 24.62 times. The public issue subscribed 61.05 times in the retail category, 0.22 times in QIB, and 21.01 times in the NII category.

More than 40% of all CFO searches done by Korn Ferry in recent times were around new age companies that are planning to get listed, said Rahul Kakkar, partner and India head, CFO Practice, at the leadership advisory and senior executive search firm.

₹218 to ₹230 per equity share of the face value of ₹10. EPACK Durable IPO raised ₹192.01 crore from anchor investors on Thursday, January 18, by allocating 83.48 lakh equity shares at ₹230.

₹66 to ₹70 apiece. Konstelec Engineers IPO lot size consists of 1,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples thereof.