IPO Financial News

equities. These institutional investors typically take a long-term view of target markets. Their investment horizon may also offer a perspective to investors concerned over the rising benchmark indices and whether the rally can be sustained in the medium to long term. SWFs typically search for a macro opportunity in an economy. A case in point is India’s electronic manufacturing services (EMS) sector.

government’s policies to promote domestic manufacturing and create an ecosystem for indigenous defence procurement as well as green energy have helped energise shares of public sector undertakings (PSUs). A rush to own PSU stocks that have reported earnings growth above the benchmark index growth has resulted in their rerating. The share of government-owned companies in India’s total market capitalisation rose to nearly 10% in November from a low of 5% in 2020.

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LIC or Life Insurance Corporation of India has been exempted till 2032 to follow 25% minimum public shareholding norms. «Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Department of Economic Affairs, Ministry of Finance vide Office Memorandum dated December 20, 2023, has decided in the public interest, to grant one-time exemption to Life Insurance Corporation of India to achieve 25% Minimum Public Shareholding (MPS) within 10 years from the date of listing i.e., till May 2032 under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957,» LIC said in a regulatory filing. In May 2022, the government had sold 3.5% stake in LIC IPO, which was an entirely (offer for sale) worth around Rs 21,000 crore. It remains India's largest IPO to date. The stock is now down around 19% from its IPO issue price of Rs 949 per share.

By Pablo Mayo Cerqueiro

Indifra received a muted response from investors on the first day of bidding. The issue was subscribed just 35 percent at 2:30 pm on Day 1, December 21, 2023. It has received bids for 7.1 lakh shares against 20.52 lakh shares on offer.

BSE’s and Bigshare Services’ websites. Also Read: Supreme Power Equipment IPO: GMP, subscription status, other details of NSE SME issue in 10 points 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.

Supreme Power Equipment IPO: The initial public offering (IPO) of Supreme Power Equipment Limited has opened for subscription today and it will remain open for subscribers till 26th December 2023. The public issue is proposed for listing on NSE SME platform and it aims to raise 46.67 crore via issuance of fresh shares. The transformer and generator company has fixed Supreme Power Equipment IPO price band at ₹61 to ₹65 per equity share.

₹550 crore initial public offering (IPO) of Mufti Menswear brand owner Credo Brands Marketing (CBML) opened for subscription on Tuesday, December 19, and will close today, December 21. The company has a price band of ₹266-280 per share for the issue. Subscription: On the final day of bidding itself, the issue was subscribed 9.34 times by 11:10 am.

₹65 apiece. However, the shares jumped to ₹68.25 apiece within minutes of hitting the secondary market, indicating a premium of 5% over the issue price. The ₹24.6 crore SME (small and medium enterprise) IPO was open for subscription between December 14 and December 18, at a price of 65 per share.

₹1,008.59 crore from the initial public offering (IPO). Also Read: Happy Forgings IPO Day 1: Issue subscribed 2.31 times; retail portion booked 3x Let us check Happy Forgings IPO GMP today, subscription status and other key details: Happy Forgings IPO was subscribed 9.11 times on December 21, the third and the last day of the bidding process. The public issue received bids for 7.61crore equity shares as against 83.65 lakh shares on the offer, as per data available on NSE till 10:35 am.

RBZ Jewellers IPO: The initial public offering (IPO) of RBZ Jewellers Limited opened for subscription on 19th December 2023 and it will remain open till 21st December 2023. This means RBZ Jewellers IPO subscription will end today evening or in other words, investors have just one day in hand to apply for the RBZ Jewellers IPO. In two days of bidding, RBZ Jewellers IPO subscription status informs that the public issue has received strong response from investors.

₹1,224.40 apiece on the BSE. On December 20, DOMS Industries shares were listed with a hefty premium of 77.2% at ₹1,400 apiece on the NSE and the BSE against an issue price of ₹790. DOMS Industries IPO received a strong response from investors during December 13 to December 15 as the public issue was subscribed 93.52 times.

BSE SME. Siyaram Recycling shares began trading at ₹55.00 apiece as against the IPO price of ₹46 per share. Siyaram Recycling share price witnessed strong buying interest and the stock was locked at 5% upper circuit at ₹57.75 apiece after the listing.

₹949.65 per share, 43.88% higher than the issue price of ₹660, and on the BSE, INOX share price today was listed at ₹933.15 apiece. INOX India IPO price band was set in the range of ₹627 to ₹660 per equity share of the face value of ₹2.

₹80 on the BSE SME , 21.21% higher than issue price of ₹66. Benchmark IPO GMP or grey market premium stood at +15. This had indicated that Benchmark Computer share price were trading at a premium of ₹15 in the grey market, according to investorgain.com.

₹627 to ₹660 per equity share of the face value of ₹2. The floor price was 313.5 times the face value of the equity shares, and the cap price was 330 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the financial year 2023 for the company at the cap price is 39.22 times, and the floor price was 37.25 times.

INOX India IPO: Listing date of initial public offering (IPO) of INOX India Limited has been fixed on 21st December 2023 i.e. today. As per the information available on BSE website, INOX India share price will list on BSE and NSE in special pre open session during Thursday deals.

Innova Captab IPO: The initial public offering (IPO) of Innova Captab Limited has opened today and it will remain open for subscribers till 26th December 2023. The pharma company has fixed Innova Captab IPO price band at ₹426 to ₹448 per equity share. The book build issue is proposed for listing on BSE and NSE and it aims to raise 570 crore from its public offer out of which ₹320 crore is aimed via issuance of fresh shares.

Innova Captab is rolling out a ₹570-crore IPO that includes a fresh issue of ₹320 crore and the rest an offer for sale. The promoters Manoj Kumar Lohariwala and his brother Vinay Kumar Lohariwala are diluting their stakes from 67% to 52%. Of the issue proceeds, ₹168 crore would be used toward debt repayment and ₹72 crore for working capital requirements. Business: Incorporated in 2005 as Harun Health Care, Innova Captab is a leading contract manufacturer of pharmaceutical formulations.

₹33 to ₹35 per share. The minimum lot size for an application is 4000 shares. The minimum amount of investment required by retail investors is ₹140,000.