IPO Financial News

Jyoti CNC Automation IPO: The initial public offering (IPO) of Jyoti CNC Automation Limited opened for subscription on 9th January 2023 and it is going to close on 11th January 2023 i.e. on today evening. Hence, investors have just one day in hand to apply for the public issue.

Capital markets regulator Sebi has kept in «abeyance» the proposed Rs 1,500 crore Initial Public Offering (IPO) of Asirvad Micro Finance, a subsidiary of listed NBFC Manappuram Finance. However, the Securities and Exchange Board of India (Sebi) did not clarify further. Reacting to the development, shares of Manappuram Finance plunged as much as 7.45 per cent to a low of Rs 163.40 apiece on the BSE on Wednesday.

In the OFS, promoter Vikram Jit Singh Chhatwal and promoter group entities Medimatter Health Management and Bessemer Health Capital will offload part of their stakes in the IPO. Chhatwal owns 3.69% stake in the company, while Medimatter and Bessemer hold 27.94% and 35.92% stakes, respectively. Investors can bid for 35 shares in one lot and in multiples thereafter. About 50% of the offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors. On listing, Medi Assist will be the first insurance third-party administrator (TPA) in India to hit the Street.

Capital markets regulator Sebi has kept in «abeyance» the proposed Rs 1,500 crore Initial Public Offering (IPO) of Asirvad Micro Finance, a subsidiary of listed NBFC Manappuram Finance. However, the Securities and Exchange Board of India (Sebi) did not clarify further. Reacting to the development, shares of Manappuram Finance plunged as much as 7.45 per cent to a low of Rs 163.40 apiece on the BSE on Wednesday.

Jyoti CNC Automation was subscribed 3.24 times so far on Wednesday, the second day of the bidding process. The issue closes tomorrow. The retail investors portion of the IPO was subscribed the most at 10 times, followed by non-institutional investors at 5.12 times. The QIB category was least subscribed at just 2%.

Manappuram Finance plunged 7.4% to Rs 163.4 in Wednesday's trade on BSE after the market regulator Securities and Exchange Board of India (SEBI) put the IPO of its arm Asirvad Microfinance on hold. The delay in the IPO represents a blow to Manappuram Finance, which had raised its stake in Ashirwad Microfinance in June 2022, acquiring a majority stake as part of its broader diversification strategy. Asirvad Microfinance had filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 1,500 crore from the public back in October last year. At 11.22 am, the scrip was trading 4.9% lower at Rs 167.9 on BSE. However, in the last year, the stock has surged nearly 40%. In Q2 FY24, Manappuram Finance reported a 37% increase in consolidated net profit to Rs 561 crore.

Infibeam Avenues share price jumped over 6% to touch a 52-week high following the announcement that it had inked a ₹2,000 crore Memorandum of Understanding (MOU) with the Gujarat government at the Vibrant Gujarat Global Summit 2024. Infibeam Avenues share price today opened at ₹24.38 apiece on BSE.

Manappuram Finance shed over 7 percent on Wednesday after market regulator SEBI put the IPO of its arm Asirvad Microfinance in abeyance, according to media reports. The stock fell as much as 7.4 percent to ₹163.40 in intra-day deals today. It is now over 10 percent away from its 52-week high of ₹182.10, hit on January 9, 2024.

CLSA maintained a buy rating on RIL, Goldman Sachs downgraded ONGC, BPCL, and IOC. Jefferies has a buy rating on Godrej Consumer and Nuvama upgraded Infosys to buy ahead of Q3 results.

Also Read: Jyoti CNC Automation IPO: Issue fully booked on day 1, retail portion subscribed 8.28x The product line consists of multi-tasking machines, simultaneous 3-axis and simultaneous 5-axis CNC machining centres, CNC turning centres, CNC turning-milling centres, CNC vertical machining centres (VMCs), and CNC horizontal machining centres (HMCs). Also Read: Jyoti CNC Automation IPO: GMP, subscription status, review, other details.

₹397 to ₹418 per equity share of the face value of ₹5. The Medi Assist IPO date of subscription is scheduled for Monday, January 15, and will close on Wednesday, January 17.

Executive Director of the company between 2007-2016. “Over his long tenure in the company, he made many significant contributions, including being part of the efforts to take TCS public in its IPO in 2004, opening up new markets, and mentoring a new generation of TCSers.

₹ 2,150 million and an offer for sale of up to 8,700,000 equity shares by selling shareholders. Also read: Jyoti CNC Automation IPO: 10 key risks investors should know before subscribing to the issue The offer for sale comprises up to 1,788,093 equity shares by Srinivasan K Swamy, up to 1,788,093 equity shares by Narasimhan Krishnaswamy, up to 4,445,714 equity shares by Evanston Pioneer Fund L.P.

HANOI (Reuters) — Vietnamese electric vehicle maker VinFast (NASDAQ:VFS) on Tuesday launched a prototype of its new pickup truck, and said it plans to launch its mini-sized VF (NYSE:VFC) 3 model globally.

MUMBAI : The Indian markets are poised to witness initial public offerings (IPOs) worth $12-13 billion in 2024, V. Jayasankar, managing director and a board member at Kotak Investment Banking, said. IPOs of new-age tech companies, such as Ola Electric, FirstCry and Swiggy, are likely to fuel a significant part of this activity, according to the company.

Bajaj Auto has pipped Mahindra & Mahindra to become the third most valuable automobile company in India intraday on Tuesday after nearly 20 months. The market capitalisation of one of the country’s largest two- and three-wheeler makers surged to Rs 2.09 lakh crore on Tuesday, crossing M&M’s market value of Rs 2.03 lakh crore. Maruti Suzuki is the most valuable automaker, followed by Tata Motors. Bajaj Auto shares gained 1.55% on Tuesday to close at Rs 7,094, extending their winning run in the past year after the company announced a share buyback at a 43% premium over Monday’s closing price. The company’s board on Monday approved a Rs 4,000 crore share buyback program at Rs 10,000 per share.

₹4.15 lakh crore) funds being raised across equity issuances and deals, according to Kotak Investment Banking. Addressing the media here, Managing Director and Chief Executive Officer S Ramesh said, led by new-age tech companies, the primary market is likely to see brisk activities this year, coupled with overall funding market, will see an inflow of about $50 billion.

Jyoti CNC Automation IPO raised ₹448 crore from 37 anchor investors at the upper price band of ₹331 per equity share, on Monday, January 8. Jyoti CNC Automation Limited is a CNC machine manufacturer and supplier. The business is headquartered in India and focuses on producing and distributing CNC machinery.

Jyoti CNC Automation IPO: The initial public offering of Jyoti CNC Automation Limited has opened today and it will remain open for subscribers till 11th January 2024. This means the public issue will remain open from Tuesday to Thursday this week. The CNC machines maker company has fixed the Jyoti CNC Automation IPO price band at ₹315 to ₹331 per equity share.

Genpharmasec rights issue 2024: Shares of Genpharmasec Ltd (formerly known as Generic Pharmasec Ltd) will be in focus when the stock market opens on Tuesday (January 09). The Board of Directors of Genpharmasec Ltd has declared a Rights Issue of equity shares. The record date for the same has been fixed on January 09.

F&O ban list: A total of thirteen stocks have been put under the ban for trade on Tuesday, January 09, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.