IPO Financial News

Anil Kothuri, MD & CEO, Fedbank Financial Services, says: “We intend opening 50 branches this year and most of which are done. And all the branches we open this year are focused on selling small mortgages. So, that branch count is slated to go from 130 to 180 okay. Now, every year we will continue to open branches and expand. Our norm is to open something like 50-60 branches every year. So, our branch count will increase by roughly 8% from here on every year for the foreseeable future. That will help us expand our presence in places where we are not there. We will enrich our presence in northern India and then foray eastwards.” You have reached an AUM of around Rs 10,000 crore and the growth was also strong at 38% on a year-on-year basis. But going forward, do you think the base effect will come into picture or do you expect this pace of 35-40% AUM growth to continue in the coming years? What we are guiding is that our AUM will grow by at least 25% year-on-year from here on.

“Alternative investments through (AIFs) typically make up about 15-20% of their overall profile," Gautami Gavankar, CEO, Estate Planning and Trusteeship at Kotak Mahindra Trusteeship Services Limited. In an interview with ETMarkets, Gavankar said: “PMS has always been a part of the industry, but for the last couple of years, there has been a momentum in AIF,” Edited excerpts: We are inching towards the last month of 2023 – any key learnings from the wealth space that you have come across and will hold true in the coming years as we all know that we live in a dynamic environment? What are the requests that you are getting from your clients when it comes to managing wealth – are they open in taking more risks compared to the past and exploring new products? The average age of HNI and UHNI investors has been dropping, accompanied by significant wealth creation in recent years.

2024 after a dismal showing for IPOs this year, noting that interest rates have stabilised globally but they add that elections across the region and in the U.S. could crimp demand. High interest rates, sticky inflation and geopolitical tensions have seen share sales by Asia Pacific (including Japanese) companies sink by a fifth in value so far this year to $229 billion, LSEG data shows.

Danish fintech firm Pleo has appointed a new chief financial officer, the company told CNBC exclusively, beefing up its executive team — a sign the company is readying itself for an eventual initial public offering.

₹960-crore initial public offering (IPO). Interested investors have until December 20 to subscribe to the public issue. The details regarding the price band will be disclosed in the coming days.

₹400 crore in shares, and an offer-for-sale involving 71.6 lakh equity shares from existing shareholders. Within this offering, Promoter Paritosh Kumar Garg (HUF) intends to divest 49.2 lakh equity shares, while the remaining 22.4 lakh shares will be offered for sale by the investor India Business Excellence Fund – III. As of now, the promoters maintain an 88.24 percent shareholding in the company, with the remaining shares held by the investor India Business Excellence Fund – III.

HMA Agro Industries, in a meeting held today, has fixed December 29 (Friday) as the record date for its proposed stock split. On November 08, the company board approved the sub-division of equity shares in a 1:10 ratio. “The Board of Directors of the Company passed the Resolution at the Board Meeting held today, December 12, 2023, and fixed the ‘Record Date’ i.e., Friday, December 29, 2023, for the purpose of sub-division or split of each equity share having a face value of ₹10 to a face value of Re 1," the company said in today's exchange filing.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd, says “having completed the capex programme and having started generating the annuity revenue in a variety of infrastructure assets that the group is holding, one would find an argument for keeping these stocks in the portfolio. And in every dip or every correction, that would mean a meaningful opportunity to add into the portfolio.” Is the zing in your voice because of the stock movement in Adani? I think one is happy at the same time because the dust is getting cleared and at the same time, the fundamentals of the companies are now once again getting recognised. More importantly, when you see Rs 60,000 crore worth of EBITDA, when you see three and a half times to EBITDA as your debt, and the capitalisation which has happened in the last 7-8-9 months, as far as businesses are concerned within the group, these are all some of the fundamental moves which would give us a confidence to stay invested into the company.

India Shelter Finance Corporation IPO: The ₹1,200 crore initial public offering (IPO) of housing finance firm India Shelter Finance is scheduled to open tomorrow, Wednesday, December 13, and close on Friday, December 15. The firm has decided a price band of ₹469-493 apiece for the IPO with a face value of ₹5. The minimum lot size for an application is 30 shares.

Sensex Today | Share Market Live Updates: Sensex and Nifty may open higher on Tuesday tracking positive trends on the Gift Nifty. Markets gained globally ahead of key economic data. Asian stock markets saw an uptick in anticipation of important economic data from the US and upcoming meetings from major central banks, which may shed light on potential rate cuts next year.

₹750 to ₹790 per equity share with a face value of ₹10. DOMS IPO lot size is 18 equity shares and in multiples of 18 equity shares thereafter.

₹52 to ₹55 per equity share of the face value of ₹10. The Motisons Jewellers IPO date of subscription is scheduled for Monday, December 18, and will close on Wednesday, December 20.

₹1,200 crores and a combination of fresh issue of 1.62 crore shares aggregating to ₹800 crores and offer for sale of 0.81 crore shares aggregating to ₹400 crores. India Shelter Finance IPO price band is set at ₹469 to ₹493 per share with a face value of ₹5. The minimum lot size for an application is 30 shares.

Mankind Pharma through block deals on Tuesday, according to news reports. Chrys Capital, Capital Group and Everbridge Partners are looking to sell 5-6% stake in the pharmaceutical major.

A council of prominent Indigenous leaders tasked with advising Canadian National Railway Co. says all of its 12 members have submitted resignations, effective at the end of the year.

₹24.60 crore from the upcoming public offer. Established in 2006, Shree OSFM E-Mobility Limited, formerly recognized as Om Sai Fleet Management (India) Private Limited, specializes in delivering employee transportation services to prominent multinational corporations (MNCs) with a widespread presence in major cities throughout India. The company has offices in 42 sites in cities like Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata.

₹85 per share on NSE. This remarkable uptick was accompanied by substantial trading volumes, and the stock witnessed exclusive buyer interest.

Bank of India (RBI) kept the repo rate unchanged at 6.5 percent as expected and raised the FY24 GDP forecast to 7 percent from 6.5 percent earlier. However, it retained the FY24 CPI inflation forecast at 5.4 percent. The Monetary Policy Committee (MPC) of the central bank also retained its stance of remaining focused on “withdrawal of accommodation." Apart from Friday's policy decision, continued foreign investor inflows, strong macro data, state election results and fall in crude oil prices as well as supporting global market trends have also lifted the index to its peak.

The current GMP is around Rs 465, compared with an issue price of Rs 790. The shares have been in heavy demand in the unlisted market since the announcement of the IPO launch. DOMS IPO comprises a fresh equity issue worth Rs 350 crore with an offer for sale (OFS) of Rs 850 crore.

I have shown how these segments, and other “racy" segments account for a large chunk of the flows. Here are the updated numbers for the quarter ended September 2023: Just under 75% of the monies is flowing into funds (marked in bold), which I would call are largely operating in the racy segments of the markets. Now, in case some of you are wondering whether this trend has changed in recent months.

₹72. The Presstonic IPO lot size is 1,600 shares.