IPO Financial News

IPO, are holding steady at Rs 78-80 in the unlisted market, indicating multibagger listing gains to investors. The company's shares are expected to list on the exchanges on December 26. At the upper price band of Rs 55, the stock is trading nearly 145% higher than the offer price. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. The public offer of Motisons Jewellers was subscribed 159.6 times at close, led by heavy bidding by qualified institutional buyers and non-institutional investors. The retail portion of the issue was subscribed 122.28 times, and the non-institutional category's subscription rate stood at 233.91 times. The allocation for qualified institutional bidders was booked 157.4 times.

₹5,500 crore, on Friday, December 22. This marks the inaugural IPO from an Indian electric vehicle (EV) manufacturer and is notably the first IPO by a two-wheeler maker in India since the introduction of Bajaj Auto in 2008.

Ashi Anand, Founder & CEO, IME Capital, says “we are seeing a larger risk on trade, FII flows are starting to come back in. It is really the context of the current strength in metals. But from a slightly longer-term perspective, the Chinese economy is really struggling and importantly, it is the housing sector in China which is really struggling the most. Just two days ago, a Chinese developer went bankrupt. Now, China has been the core driver of global demand for metals and if the biggest demand driver is really going to be weak, it is really difficult to build any kind of longer-term fundamental call on at least the core metals.” A lot of interest in the IPO market and considering you track this space closely, any business that you have liked, any IPO that you have subscribed to? Ashi Anand: Yes, we are tracking the IPO space. There are certain interesting IPOs coming up. There are certain D2C brands which are coming up. There are certain other digital platforms. So, it is a space that we are tracking. The only problem is the IPO market is probably a bit too hot. Participation is probably being too high. There is a large amount of IPOs which probably are not of that high quality seeing very large subscription numbers.

Stock market this week: Indian frontline indices S&P BSE Sensex and Nifty50 ended with half a percentage points cuts on weekly basis amid profit booking at higher levels. When markets resume trading on Tuesday in the holiday shortened week, a host of important domestic and global events lined-up during this week are likely to impact them. Major global markets will remain shut for trading on December 25, Monday on account of Christmas holiday. «Nifty gained for the second consecutive day after witnessing a sharp fall on Wednesday. The index closed with gains of 94 points at 21,349 levels. Majority of the sectors ended in green with buying seen in IT, realty, metals and pharma. The underlying tone of the market remains positive. However, as we enter into holiday mood starting this weekend, we expect the market to remain range bound with stock specific action next week,» Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Factors that are likely to impact movement when markets reopen this week: US Markets

The year started on a negative note as the equity bulls were nearly thrashed out by the bears. But the bulls picked themselves up from the ground and the run that they began in March was simply unstoppable. This tug-of-war between the bulls and the bears on Dalal Street was influenced by a zillion factors that unfolded during the course of the year. In this special year-ender 2023 section, ETMarkets has tried and wrapped all of those events. So, let’s do a recap of all of those movers and shakers on D-Street. January Just when investors were grappling with a high inflation and interest rate situation, US-based Hindenburg Research on January 25, threw a fireball on D-Street through a 106-page report filled with allegations against the Adani Group. The short seller accused the group of financial forgery, corporate misgovernance, stock price rigging, and highly leveraged balance sheets.

Nitin Raheja, ED, Julius Baer Wealth Advisors, says “OMCs are short-term tactical plays and that is how we look at them. If in the next couple of months, before the election code comes into play, crude remains benign, then they will be good, in fact, for a good part of the next year. But fundamentally, the fact that they do not really have complete freedom and there is interference from the government and the ministry, means they can’t be long-term strategic compounders.” This year has been marked by the comeback of the oil and gas PSUs. What is your take on this because there was always a regulatory overhang which challenged the institutional investors not to participate in these stocks in a big way. Do you think some of those worries are getting abated now? Nitin Raheja: I do not think so. I do not see anything which has significantly changed from a regulatory perspective. These are good short-term tactical plays. OMCs are benefitting from the fact that crude has remained relatively benign, so they have not faced those pressures. If in the next couple of months, before the election code comes into play, crude remains benign, then they will be good, in fact, for a good part of the next year. But fundamentally, the fact that they do not really have complete freedom and there is interference from time to time from the government and the ministry do not make them long-term strategic compounders. They are good short-term plays that is how we look at it.

Azad Engineering IPO: Bidding for the initial public offering (IPO) ended on 22md December 2023 and now those who have applied for the public issue are eagerly waiting for announcement of Azad Engineering IPO allotment date, which is most likely on 26th December 2023. In three days of bidding, Azad Engineering IPO subscription status informs that the book build issue got subscribed 80.65 times. Meanwhile, despite record subscription status, grey market sentiment has gone down in regard to Azad Engineering IPO.

Ola Electric IPO: SoftBank Group-backed e-scooter maker company filed DRHP (Draft Red Herring Prospectus) with market regulator Securities and Exchange Board of India (SEBI) on Friday last week. The proposed public issue includes a fresh equity share release of up to ₹5,500 crore and an offer for sale (OFS) of 95,191,195 equity shares at a face value of ₹10 per equity share.

Stock market last week: After logging gains for seven straight weeks, key benchmark indices of the Indian stock market took a breather last week. Nifty 50 index ended 0.55 per cent or 113 points lower while BSE Sensex lost 257 points or 0.36 per cent in the previous week. Nifty Bank index lost 493 points or 1.03 per cent in last five sessions.

Happy Forgings IPO timeline After the allotment gets finalised, investors can expect the transfer of shares in their demat accounts on December 26, Tuesday. For those who did not get allotment, the refunds are likely to be made by Tuesday.

The IPO of Azad Engineering was subscribed 80.6 times on the last day of the bidding process. The category reserved for QIB was subscribed the most at 179 times, followed by NIIs at 87 times.

Motisons Jewellers IPO: After allotment of shares, lucky allottees are eagerly waiting for Motisons Jewellers IPO listing date, which is fixed on 26th December 2023. Those who have applied for the book build issue need not to move from pillar to post and check Motisons Jewellers IPO allotment status. They can check their application online by logging in at the BSE website or at the website of Motisons Jewellers IPO refistrar — Link Intime Private Limited.

Ola IPO: Ola Electric, the Indian electric vehicle frontrunner, is revving up for its highly anticipated Initial Public Offering (IPO). However, the road ahead for investors isn't entirely clear.

Ola Electric filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on December 22. The proposed issue includes a fresh equity share release of up to ₹5,500 crore and an offer for sale (OFS) of 95,191,195 equity shares at a face value of ₹10. Bhavish Aggarwal, the founder of Ola Electric, is set to sell around 47.4 million shares in the SoftBank Group-backed e-scooter maker.

Ola Electric, is set to sell around 47.4 million shares in the SoftBank Group-backed e-scooter maker, as per the company's preliminary draft papers filed with SEBI on December 22. The proposed issue includes a fresh equity share release of up to ₹5,500 crore and an offer for sale (OFS) of 95,191,195 equity shares at a face value of ₹10.

Suraj Estate IPO: Allotment status of the initial public offering (IPO) of Mufti brand's patent company Suraj Estate Developers Limited has been declared. Those who have applied for the public issue can check Suraj Estate IPO allotment status online by logging in at the BSE website or at the website of official registrar of the book build issue — Link Intime Private Limited.

Happy Forgings IPO: Allotment status of applications for the initial public offering (IPO) of Happy Forgings Limited has been declared. Those who have applied for the public issue can check Happy Forgings IPO allotment status online by logging in at the BSE website or at the website of official registrar of the book build issue — Link Intime Private Limited.

Credo Brands IPO: Allotment status of the initial public offering (IPO) of Mufti brand patent Credo Brands Marketing Limited has been declared. Those who have applied for the public issue can check Credo Brands IPO allotment status online by logging in at the BSE website or at the website of official registrar of the book build issue — Link Intime Private Limited. After declaration of Credo Brands IPO allotment, focus has now shifted towards Credo Brands IPO listing date, which is most likely on 27th December 2023.

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This New Year, enjoy up to 50% off, plus an extra 10% off a 2-year subscription with the code research23 , reserved for the first 500 quick subscribers. To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.

Akanksha Power and Infrastructure IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) Akanksha Power and Infrastructure opens for subscription on Wednesday, on December 27, 2023 and closes on December 29, 2023. The public issue's price band is set at ₹52 to ₹55 per share.

₹5,500 crore through an initial public offering (IPO). This will be the first IPO by a two-wheeler maker in India since the debut of Bajaj Auto in 2008.