IPO Financial News

Ola Electric IPO: SoftBank Group-backed e-scooter maker Ola Electric filed its preliminary draft papers on Friday, December 22, with capital markets regulator Securities and Exchange Board of India (SEBI) to raise ₹5,500 crore through an initial public offering (IPO). This will be the first IPO by an Indian electric vehicle (EV) maker and also the first by a two-wheeler maker in India since the debut of Bajaj Auto in 2008.

BSE. Step 1 - Visit the registrar Bigshare Service’ website by clicking this link: https://www.bigshareonline.com/ipo_Allotment.html Step 2 - Select the company name “RBZ Jewellers" in the “Select IPO" dropbox.

Transformers & Rectifiers India (TRIL), one of the leading manufacturers of transformers, have skyrocketed 19.6% in today's trade to record a new lifetime high of ₹226 apiece. This impressive rally was attributed to the company's successful completion of a dynamic short circuit on 105 MVA Transformer. “Transformers and Rectifiers has successfully completed the most stringent ‘Dynamic Short Circuit Test’ on 105 MVA, 400/√3/220/√3/33 kV class single phase auto transformer, forming a bank of 315 MVA.

₹135.9 apiece, which was 4.3% lower than the IPO price of ₹142 per share. At current levels, the stock is still trading 1.40% below its issue price. However, according to recent projections from brokerage house Investec, there may be a potential reversal of this trend going forward, driven by the company's increasing market share.

Hero MotoCorp, Spandana Sphoorty, Larsen & Toubro, Dalmia Bharat, Tata Consumer, Syrma, Coal India, Prestige, Zomato, L&T Technology Services (LTTS) , Oil India, Sun Pharmaceutical, Kajaria Ceramics stand among top 14 picks of Motilal Oswal Broking and Distribution for 2024. The Brokerage expects India market outperformance to continue during 2024 led by strong macro and micro fundamentals.

₹51 to ₹54. Kay Cee Energy & Infra IPO lot size consists of 2,000 shares.

₹14.47 crore. The public offer will open for subscription on December 27 and close on December 29. The company has fixed the price band at ₹62 per share.

Flexible office operator Awfis Space Solutions Limited has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), aiming to raise Rs 160 crores through its Initial Public Offering (IPO). The company intends to allocate the net proceeds from the offering towards capital expenditure for establishing new centers, funding working capital requirements, and addressing general corporate needs, as outlined in the DRHP. “Notably, this IPO marks a milestone as the first by any indigenous flexible office operator in India. Despite its small size, Awfis stands out due to its asset-light managed space model and a distinctive managed aggregation supply approach for landlords, resulting in the largest number of centers across the country,” mentioned DRHP. The proposed IPO entails an offer for the sale of up to 10,023,172 equity shares, with Peak XV Partners Investments V, Bisque Limited, and Link Investment Trust planning to offload stakes.

The retail portion received consolidated bids of 2,396,000 share bids, while the non-institutional investors (NIIs) received 328,000 bids. The qualified institutional buyers (QIBs) were yet to open the account around 1 pm for this SME IPO issue.

Credo Brands IPO Allotment: Credo Brands Marketing's initial public offering (IPO) witnessed robust investor participation throughout the three-day bidding period from December 19 to 21, with an oversubscription of 51.85 times. The IPO garnered an exceptional response across all investor categories, notably with the Qualified Institutional Buyer (QIB) portion oversubscribed by 105 times. The allotment for Credo Brands IPO is expected to be finalized soon.

BSE. The ₹100 crore initial public offer (IPO) of RBZ Jewellers was open for subscription between December 19 and December 21 at a price band of ₹95-100. Applicants in the public offer can find out if they have been issued shares, through the basis of allotment.

BSE’s and Bigshare Services’ websites. Also Read: RBZ Jewellers allotment to be finalised soon: how to check status, GMP details Sahara Maritime IPO is an SME IPO and the shares will be listed on BSE SME with a tentative listing date fixed on December 26.

₹171 crore from anchor investors on Wednesday, December 20. Also Read: Innova Captab IPO: Issue gets booked 1.41 times on day 1, GMP steady today; should you subscribe? Innova Captab IPO price band has been set in the range of ₹426 to ₹448 per equity share of face value of ₹10.

Flipkart on December 21 confirmed that parent company Walmart will infuse around $600 million in the Indian e-commerce firm, Reuters reported. This $600 million is a part of the total $1 billion fresh capital that Flipkart is aiming for, sources told the agency. Walmart is the largest shareholder in the Bengaluru-based start-up.

₹8,600 crore, that are disrupting various sectors and attracting global investors. In 2022, India added 14 new unicorns, taking the total count to 100, ranking third globally behind the US and China. However, unlike their counterparts in other countries, most of these unicorns have not gone public yet, preferring to raise funds from private sources.

₹426 to ₹448 per equity share of face value of ₹10. Innova Captab IPO lot size is 33 equity shares and in multiples of 33 equity shares thereafter.

Stock split 2023: The board of directors of Tiger Logistics (India) Ltd has received proposal for stock sub-division. The company board will discuss and approve stock split proposal in its upcoming board meeting scheduled on 9th January 2024.

Sandip Sabharwal, asksandipsabharwal.com, says “the overall small and midcap universe is richly valued. On top of that, there is risk in the markets and globally also we have seen significant run-ups in markets, huge amounts of record inflows into funds in recent weeks. This typically indicates that some short-term top will be formed, which should give up in my view 5% to 7% from the top.” What have you made of this temporary blip that we saw yesterday and now the recovery thereof or was it really a temporary blip or do you think we have seen the peak in yesterday's high for this year? Sandip Sabharwal: This year it is very unlikely because it is just seven-eight days to go.

Azad Engineering IPO: The initial public offering (IPO) of Azad Engineering Limited opened for subscription on 20th December 2023 and it will remain open for bidding till 22nd December 2023. This means Azad Engineering IPO will close today evening and investors have just one day in their hand to apply for the public issue. The aerospace components and turbines maker company has fixed Azad Engineering IPO price at ₹499 to ₹524 per equity share.

Mitshi India on December 21 informed the exchanges that it has accepted the resignation of Rinku Niket Patel from the post of Chief Financial Officer (CFO) in the company. The company also enclosed Patel's letter which was written on school notebook paper in its official statement.

Zomato, One 97 Communications (Paytm) and FSN E-Commerce Ventures (Nykaa) — improved their ET500 ranks in FY23, Delhivery slipped lower. The sharper focus on the post-listing financials of startups has tempered the exuberance while forcing companies to shift focus from gross merchandise value to unit economics and profitability. The funding winter has added to the pressure on new-age companies to tighten belts and reorient their business.