IPO Financial News

₹426 to ₹448 per share. The issue will open for subscription on December 21 and will conclude on December 26. At the higher limit of the price range, the company has a valuation that is equivalent to 34 times its earnings for the financial year 2022-23 (April-March).

IPO) of Suraj Estate Developers will open for subscription on December 18. The issue closes on December 20.

From Reddit Inc. to Syngenta Group to CVC Capital Partners, debuts meant to restore sickly global initial public offering activity to health have been pushed back, sometimes repeatedly.

BSE Sensex was valued 24.8 times the earnings of its 30 constituents. This average monthly price-to-earnings (PE) ratio of the Sensex has been higher than this only about 20% of the time since 1990. While it has delivered gains even at higher valuations, some of the corrections have been brutal—the Harshad Mehta securities scam in 1992, the dotcom crash in 2000, and the US financial contagion in 2008.

₹4,600 crore, an increase from the ₹4,000 crore raised in the previous week. “A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiple in listed peers. Next week looks promising, more than half a dozen companies will hit the market with their IPOs.

Dalal Street, and market experts see them riding indices further higher in the near term. Last week’s rally was driven largely by foreign inflows, which will be essential for a sustained up-move in the market. After the 7% gains clocked in by Nifty 50 so far in December, technical charts, however, suggest that the market has entered into an overbought zone, and some cooling off to that extent is warranted. “From a technical standpoint, the Nifty is maintaining its bullish momentum, marked by a breakout from a flag formation. The immediate target stands at 21,700, with the possibility of further upward movement to 22,000, although some consolidation may follow,” said Santosh Meena, head of research, Swastika Investmart. On Friday, the Nifty 50 ended at a record closing high of 21,456.65 points with 1.3% gains. While the outlook for the secondary market remains positive, the action is likely to be more in the primary market as a plethora of IPOs are scheduled to hit the Street. Here are a few other factors that will drive the momentum for markets in the coming week.

Muthoot Microfin has raised Rs 285 crore by selling part stake to anchor investors in the pre-IPO placement. The company has allocated 97,93,812 shares to 26 anchor investors. These include foreign portfolio investors like Morgan Stanley, Societe Generale, Copthall Mauritius Investment.

IPO) of Muthoot Microfin will open for subscription on December 18. The issue closes on December 20.

Also Read: Over 45 smallcaps rise 10-30% as Sensex crosses 71,000-mark; do you own? As a culmination of these factors, the Nifty 50 soared to an all-time high of 21,492 points on Friday, concluding the week with a robust rally of 2.32%. 37 out of the 50 constituents of Nifty 50 ended the last week in green. HCL Technologies led the pack with an impressive rally of 9.3%, reaching ₹1,491 apiece and achieving a record high of ₹1,497.

gains for the seventh consecutive week, marking their longest winning run since January 2018. Specifically, the BSE benchmark jumped 1,658.15 points or 2.37 per cent on the week, while the Nifty climbed 487.25 points or 2.32 per cent. Global cues triggered foreign capital inflows into Indian markets after the US Federal Reserve signalled the end of its tightening cycle.

S J Logistics IPO: The initial public offering (IPO) of logistics and supply chain solutions provider S J Logistics concluded on Thursday, November 14 and the allotment status has been finalised today (Saturday, December 16). The investors who applied for the issue can check the S J Logistics IPO allotment status in the registrar's portal, which is Maashitla Securities Private Limited. Investors can find out if and how many shares they have been given through the basis of allotment.

₹36.3 crore from anchor investors on December 15, just a day prior to the commencement of the public offering. The anchor book saw participation from only two investors. The public issue is scheduled to open for subscription on December 18, with the closing date set for December 20.

Also Read: Zomato skyrockets 108% in 2023: A look at how other new-age stocks performed this year Moreover, the strong demand from the retail segment continued on the final day, with the subscription rate soaring to 9.79 times. Non-institutional investors also displayed significant interest in the offering, as the subscription in the segment reached 28.47 times. Overall, the IPO received bids for 65,59,44,390 shares on the final day as against the 1,79,10,449 shares available for subscription, translating into a subscription rate of 36.62 times.

PB Fintech, Zomato, CarTrade Tech, Nykaa, and Delhivery have all yielded positive returns thus far in the current year. Among these, Zomato managed to cross its IPO price and also delivered a multi-bagger return. Although commencing the year 2023 on a relatively negative note with a 16% loss in value, the Zomato stock demonstrated a substantial recovery in April, registering a noteworthy gain of 27.25%.

Nifty and Sensex hit record highs in trade today (December 15) for the second straight session after the US Fed signaled that its interest rate-hiking policy is at an end and it will cut rates in 2024. The Sensex rose over 720 points to its new high of 71,234.63, whereas the broader Nifty50 index advanced 214.4 points to its record high of 21,397.10. The US Federal Reserve has opted to maintain unchanged interest rates and has additionally signaled the likelihood of three quarter-point cuts to the benchmark interest rate in the coming year.

KFin Technologies declined over 9 percent in trade today (December 15) after shares worth ₹1,650 crore changed hands in a block deal. As per media reports, around 3.3 crore shares, representing 20 percent equity in the company, changed hands at a floor price of ₹500 apiece. The floor price is at a 6 percent discount to its yesterday's closing price of ₹532.25.

Sandip Sabharwal, asksandipsabharwal.com, says “sudden, swift corrections lasting a couple of weeks can come up any time. Markets can never go up in a straight line. So the investment strategy has to be, at this point of time, if you are holding some good stocks, you can keep on holding. If you are holding zero cash, I would say that it is a good strategy to at least have 10-15% cash now so that you can re-deploy as opportunities come up again.” Is it getting too good to be true or perhaps we should not get carried away with the momentum? What is your understanding of the market right now? It depends on the time horizon of the investors. So if it is a very long term, then it is fine. It does not matter. But I think when markets move up so rapidly in such a short period, in every bullish phase, we have seen that markets can correct 4% to 7% at any point of time without any reason so any investor who is getting in today needs to be ready for that.

IPO) of Happy Forgings will open for subscription on December 19. The issue closes on December 21.

By Nell Mackenzie

India Shelter IPO: The initial public offering (IPO) of India Shelter Finance Corporation Limited Ltd opened for subscribers on 13th December 2023 and it will remain open till 15th December 2023. So, bidding for India Shelter IPO ends today. Hence, primary market investors have just one day in hand to apply for this IPO.

IPOs hitting Dalal Street in the last few days of December, star investor Ashish Kacholia and broking firm Zerodha have quietly invested in an NPO which got listed on the Social Stock Exchange this week. NPO stands for not-for-profit organisation and investors can't expect anything in return for buying zero coupon zero principal (ZCZP) instruments. Unlike investments in IPOs, FPOs and NFOs, you don't get any interest, capital appreciation, dividend or even your capital back. The instrument, however, does get credited to demat accounts of investors but its value will become zero after the project for which the fundraiser was done gets completed. On Wednesday, Bengaluru-based NPO SGBS Unnati Foundation, which runs vocational training programs for unemployed, raised Rs 1.8 crore from two HNIs and another two institutional investors. Smallcap czar Kacholia, known for his multibagger picks, invested Rs 30 lakh while Zerodha generously invested Rs 1 crore.