IPO Financial News

₹156 apiece. Brisk Technovision IPO will open for subscription on Monday, January 22, and close on Wednesday, January 24.

IPO of Maxposure was booked by a massive 505 times on the last day of the bidding process, led by robust demand from non-institutional and retail investors. The category reserved for NIIs was subscribed 812 times, followed by retail investors at 672 times and QIBs at 30 times. The IPO is completely a fresh equity issue of 61.4 lakh shares and through the issue, the company plans to raise Rs 20.26 crore. The net proceeds from the offer will be used for funding expenses incurred towards various certifications from various regulators, working capital requirements, repayment of debt, and general corporate purposes. Also Read: Epack Durables IPO: Price band, issue size, GMP among 10 things to know before subscribing to the issue Maxposure IPO GMP In line with the subscription demand, the company's shares are fetching a bumper premium of Rs 59 in the unlisted market. The IPO is priced at Rs 33 at the upper end. The IPO is entirely a fresh equity issue of up to 61.4 lakh shares aggregating to Rs 20.26 crore. Maxposure is a diverse new-age media and entertainment company offering 360-degree services across multiple distribution platforms.

₹100 per equity share with a face value of ₹10. The initial public offering (IPO) will open for subscription on January 18 (Thursday) and close on January 22 (Monday). Through the issue, the company aims to raise ₹19.64 crore via the issuance of 19.64 lakh fresh equity shares.

Also Read: Medi Assist IPO last date of subscription: GMP falls, check review, issue details, key dates. Should you subscribe? Within minutes of opening on the second day of subscription, the retail portion of Medi Assist IPO was fully subscribed.

initial public offering (IPO) process and boosting investor confidence in startup exits. “Allocating resources judiciously ensures regulatory compliance, transparency, and legal adherence during the IPO journey. Moreover, budget provisions for effective investor communication, marketing, and technology infrastructure signal professionalism and commitment, enhancing investor trust.

Ripple CEO Brad Garlinghouse has revealed that the company explored IPO options outside the United States, attributing this decision to a challenging relationship with the U.S. Securities and Exchange Commission (SEC).

Life Insurance Corporation of India (LIC) on Wednesday left State Bank of India (SBI) behind in market capitalisation to become India's most valued PSU stock. LIC shares rallied over 3% to a fresh 52-week high of Rs 919.45 taking its market value above Rs 5.75 lakh crore-mark. On the other hand, SBI's market cap was around Rs 5.65 lakh crore in the morning session. Last month, the finance ministry had exempted the PSU insurer from complying with 25% minimum public shareholding (MPS) norms till 2032.

Life Insurance Corporation of India share price gained more than 2% in morning trades on Wednesday helping its market cap cross the ₹5.8 Lakh Crore mark as it touched 52 week highs of ₹919.45 a piece. LIC market cap thereby surpassed market cap State Bank Of India (SBI) . SBI share price was down 1% on the BSE while its market cap stood at around ₹5.62 Lakh Crore .

₹16,372 crore in the third quarter of FY24. The bank’s net interest income (NII) in Q3FY24 rose 24% YoY to ₹28,470 crore. The bank recorded loan growth of 4% QoQ while deposits grew 2%.

₹2,000 crore. Allied Blenders and Distillers IPO consists of a fresh issue of equity shares aggregating up to 1,000 crore and an offer-for-sale (OFS) aggregating up to ₹500 crore, as per company's DRHP dated January 15.

₹397 to ₹418 per equity share of the face value of ₹5. On the first day, Medi Assist Healthcare Services IPO got off to a slow start and was booked at 54%, but on the second day, within a few minutes of opening, the retail portion got fully booked, and towards the end of the day 2, the issue was 1.20 times.

LIC) on Tuesday crossed the listing price of ₹865 for the first time since its shares were listed in May 2022. The stock gained 4.4% to close at ₹892.50 on Tuesday and is on course to cross the initial public offer price of ₹949 per share as investors perceive the insurance giant is cheaper valued compared to its private sector peers. The stock hit an all-time high of ₹900 as the company's market capitalisation rose to ₹5.64 lakh crore, crossing the listing day market value of ₹5.53 lakh crore. «Since the shares are trading below the embedded value, LIC remains in a favorable valuation zone,» said Avinash Singh, senior research analyst- insurance, Emkay Financial Services.

₹1,800 crore (through the IPO) to grow rapidly. Of this, ₹1,500 crore will be a capital raise to deleverage and future growth. We will use the remaining ₹300 crore for general corporate purposes and will deploy that later.

Tata Technologies, a marquee entrant to the bourses in recent times, will announce its quarterly results for the first time since listing on January 25. «A meeting of the Board of Directors of Tata Technologies is scheduled to be held on January 25, 2024, to consider and approve the audited standalone and consolidated financial results for the quarter ended December 2023,» the company said in a filing. For the six months ended September period, the company's total income rose 35% year-on-year (YoY) to Rs 2,587 crore and net profit was up 36% to Rs 352 crore in the same period. The company derives significant revenues from its top 5 clients (73% in FY23) including Tata Motors. Over FY 21-23, Tata Tech's revenue, EBITDA, and net profit grew at a CAGR of 36.2%, 45.9% and 61.5%, respectively. Return ratios – RoE and RoIC improved by 971 bps (to 20.9%) and 308 bps (to 36.3%) in FY23. The IPO from the Tata Group company was lapped up by investors with overwhelming interest.

₹450 crore and an offer for sale of up to 2,412,685 equity shares. For the IPO, Nuvama Wealth Management, DAM Capital Advisors, and Equirus Capital Private are the book-running lead managers.

Life Insurance Corporation (LIC), India's largest life insurer, soared 5.30% in today's intraday to touch ₹900 apiece, a level not seen since its listing in May 2022. This also represents the stock's new 52-week high. The insurance behemoth was listed on the Indian stock exchanges on May 17, 2022, at ₹875.25 apiece as compared to the issue price of ₹949.

Parakramsinh Jadeja, CMD, Jyoti CNC Automation, says “out of the IPO proceeds, we are going to pay close to Rs 475 crore on debt and after that will have less than 0.25% debt to equity ratio and in the next two to three years, we are looking to be a debt-free company. In terms of new capex, our plant has been put up over there. We do not need to invest much over here and then that kind of a total four phase we do, we do not need extra space to be there.” Your company is the third largest CNC manufacturer and it has seen its fair shares of ups and downs as well. After suffering a setback in FY21-22, you have turned the corner in FY23 now and turned profitable as well. What led to this turnaround and what is the outlook now going forward? Is the profitability you think sustainable going forward? Parakramsinh Jadeja: we have a robust order book and in terms of a percentage also if you look at the past, first half numbers are grooming up there.

Medi Assist Healthcare is yet to sail through, but the issue gained some momentum on Tuesday, the second day of bidding with an overall subscription of 81% so far. The issue closes on Wednesday. The retail portion of the issue was fully subscribed, followed closely by the NII category at 70%.

Capital Small Finance Bank, Krystal Integrated Services and Vibhor Steel Tubes — have received Sebi's go-ahead to raise funds through Initial Public Offerings (IPOs). All three firms, which filed their preliminary IPO papers with the capital markets regulator in October 2023, obtained their observation letters during January 8-12, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, obtaining its observation letter means its approval to float the public issue.

Jyoti CNC Automation jumped nearly 13% after a decent debut on the exchanges on Tuesday. The stock was last trading at Rs 418 apiece, up 27% over the issue price of Rs 331. The premium listing was in line with expectations, which can be attributed to the company's market leadership and a substantial presence in the global CNC machine manufacturing market. The focal points in the company's business model are its client base, healthy margins and a proxy play on the defense sector.

₹397-418 per share for the issue. GMP: Shares of Medi Assist Healthcare have been available for trade in the grey market since the weekend. The company's shares in the grey market continued trading at a premium of ₹38, indicating a 9 percent premium versus the IPO price at listing.