IPO Financial News

₹133.55, 4.61% lower than the issue price and 3.15% lower than the listing price. Fedbank Financial Services IPO had opened for subscription from Wednesday, November 22, and closed on Friday, November 24. Fedbank Financial Services IPO price band had been fixed in the range of ₹133 to ₹140 per equity share of face value of ₹10.

Flair IPO: Allotment status of the initial public offering (IPO) of Flair Writing Industries Ltd has been announced and now allottees are eagerly waiting for Flair IPO listing date, which is most likely on 1st December 2023 i.e. tomorrow. Meanwhile, in overcrowded primary market, grey market has gone further bullish on Flair IPO.

Gandhar Oil debuted at a premium of 76% (up Rs 129) on NSE in Thursday's trade. The stock listed at Rs 298 on NSE, while on BSE it debuted at Rs 295.4, up 75% over the issue price of Rs 169. Ahead of the debut, the stock fetched a premium of Rs 72 in the unlisted market. Gandhar Oil received a better-than-expected subscription demand at 64x for its IPO, mainly on the back of reasonable valuations. The net proceeds from fresh issuance worth Rs 357 crore will be used towards financing the repayment/pre-payment of a loan facility, purchase of equipment and civil work, expansion in capacity of automotive oil, petroleum jelly, white oils by installing blending tanks, funding working capital requirements and general corporate purposes. Gandhar Oil is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end-industries.

Fedbank Financial on Thursday got listed with a discount of 1.6% on BSE on debut at the bourses on Thursday. The stock was listed at a premium of Rs 137.75. Meanwhile, on the NSE the stock was listed at Rs 158, down 1.4%. The IPO, which was priced in the range of 133-140, received subscription demand twice the shares on offer. «Despite the company's strong track record of growth and profitability, along with its diversified customer portfolio and focus on providing affordable financial solutions to underserved and unbanked segments, the lack of enthusiasm among investors is striking,» said Shivani Nayti of Swastika Investmart. Net proceeds from the fresh issue will be utilised towards augmenting Tier–I capital base to meet its future capital requirements, arising out of the growth of business and assets.

Tata Technologies listed at a premium of 140% (up Rs 700) on the exchanges on Thursday. The stock debuted at Rs 1200 on NSE and BSE as against an issue price of Rs 500. Ahead of the listing, the shares commanded a premium of Rs 406 in the unlisted market. Listing gains aside, analysts are quite bullish on the company even from a long-term perspective. «The company's global presence and expertise in engineering solutions have positioned it as a preferred partner for multinational corporations across diverse industries.

Tata Technologies Ltd., the first company from the salt-to-software conglomerate to list since 2004, begin trading on Thursday. Tata Technologies’ IPO raised Rs 30.4 billion ($365 million), with shares being sold at Rs 500 each, the top of the marketed range. Demand exceeded shares on offer by 69 times, as investors piled into the engineering unit of luxury carmaker Jaguar Land Rover’s owner Tata Motors Ltd. The sale comes as India logs a record number of listings in 2023, fueled by a booming stock market and optimism about the country’s economic growth. The frenzy reached a fever pitch last week when first-time share sales from five issuers, including Tata Technologies, garnered a combined 2.5 trillion rupees in application amount. “Strong optimism in the domestic market has fueled the surge in IPO listings in the last two years,” Jahnavi Prabhakar, an economist at Bank of Baroda wrote in a note on Wednesday. “A large number of IPOs have been listed at a premium, making this a win-win situation for investors.” While the 205 IPOs in India so far in 2023 have mostly been small — only two raised more than $500 million — about 80% of the newcomers are trading above their offer prices versus 62% in Asia. Indian Renewable Energy Development Agency Ltd., a state-run lender to renewable energy projects, surged 88% in its trading debut Wednesday.

Gautam Trivedi, Co-Founder & Managing Partner, Napean Capital, says “the market is now starting to accept that there is a certain different valuation metric we should be applying to the new age tech companies. These companies are changing the way we live and behave, whether it is Zomato, whether it is insurance online or Paytm. Going forward, these are companies you want to keep owning from a longer term perspective.” Let us look at something which is in the public domain, something which we have discussed in the past, your top holdings, Varun Beverages, Landmark, Inox Wind, Sampada. Have your top five holdings changed or are they still intact? These are the top five holdings on a mark to market basis. So these are actually companies that we are a bit more of a special sits (situations) fund. We look for steady compounders as well. Varun Beverages, interestingly, was a special sits which became a steady compounder. Landmark Cars, is the other sector which is compounding – the auto space. Inox Wind, is a special sits investment because the government policy has changed favourably towards wind power because there was too much focus on solar given the fact that solar energy is only available from eight o'clock in the morning to about 4.30 or 5.00 p.m. in the afternoon.

stock benchmarks rose more than 1% on Wednesday with the Nifty closing above 20,000 for the first time since September 13 as receding concerns over further rate hikes in the US revived risk-on sentiment. The softening of global crude prices and a reversal in foreign fund activity in November so far after two months of selling also improved investor mood. The Nifty surged 206.90 points, or 1%, to close at 20,096.60.

Ant Group sold a 3.4% stake in Zomato for ₹3,337 crore on Wednesday through a series of deals on the exchanges. According to BSE bulk deals data, Alipay Singapore Holdings, an entity of the Ant Group, sold 297 million shares at ₹112.70 per share. Zomato's shares ended 2.55% higher at ₹116.70 on the BSE on Wednesday. As of September 30, 2023, Alipay Singapore Holdings held a 3.44% stake.

IPO) market witnessed one of the busiest periods last week with five companies, including Tata Technologies, Ireda, Flair Writing Industries and Gandhar Oil Refinery, launching their issues, there has been a lot of discussion about grey market and grey market premium (GMP). ET looks at what these terms mean: What is the grey market? The grey market is an unofficial and unregulated market where shares are traded even before they are listed on the main exchanges. In this market, transactions happen in person, unlike exchange trades that see no human intervention.

Tata Technologies Share Price Live Updates: Shares of Tata Technologies are all set to debut on stock exchanges BSE and NSE at 10:00 am today after receiving an overwhelming response from investors during its three-day subscription period last week. Tata Group's first initial public offering (IPO) in almost 20 years was subscribed over 69 times by the final day of bidding.

Tata Technologies IPO: Listing date of the initial public offering (IPO) of Tata Technologies Ltd has been fixed on 30th November 2023 i.e. today. As per the information available on BSE website, Tata Technologies share price will hit Dalal Street during Thursday deals.

Gandhar Oil IPO: Listing date of the initial public offering (IPO) of Gandhar Oil Refinery Ltd has been fixed on 30th November 2023 i.e. today. As per the information available on BSE website, Gandhar Oil share price will hit Dalal Street during Thursday deals.

Sensex rallied 727 points and Nifty closed above the 20,000 mark for the first time since September 18 driven by buying in heavyweight HDFC Bank, Axis Bank ICICI and TCS on expectations of more foreign fund inflows. In a remarkable day for Indian equities, the combined market valuation of all listed companies on the BSE reached the $ 4-trillion milestone for the first time on Wednesday. Both the benchmarks are less than 1% shy of the record highs hit on September 15. Here's how analysts read the market pulse: «Nifty moved up smartly as the bulls remained at the helm following a consolidation breakout on the daily chart.

Tata Technologies IPO: The Tata Group's much-awaited initial public offering (IPO) received overwhelming response from investors during its three-day subscription period last week. Shares of Tata Technologies is all set to debt on stock exchanges BSE and NSE on Thursday, November 30. Since, the companies off late have been switching to T+3 norms the allotment and listing date are being preponed.

ICICI Bank on Wednesday said that it has received 'no objection' letters from the BSE and the National Stock Exchange for delisting shares of ICICI Securities. ICICI Securities is a subsidiary of ICICI Bank, wherein the latter holds around 75% stake in the former. In June, the private sector lender had proposed delisting shares of ICICI Securities following board approval for the draft scheme of arrangement. The delisting of shares of ICICI Securities will be done through a share swap, wherein public shareholders of the brokerage will be allotted 67 shares of ICICI Bank for every 100 shares held. Following the delisting, ICICI Securities will again become a 100% subsidiary of ICICI Bank. The decision to make ICICI Securities a wholly-owned subsidiary through delisting was to drive synergies between the two entities, ICICI Bank had earlier said. The bank did not intend to monetise its stake in the brokerage firm by taking it below 75%. ICICI Securities made its debut on the exchanges in April 2018. ICICI Bank had sold part of its stake in the brokerage firm in the IPO.

₹16,041.33 crore, resulting in an inflow of ₹71.91 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹10,922.50 crore and offloaded shares worth ₹8,561.69 crore, resulting in an inflow of ₹2,360.81 crore, the exchange data showed. The 30-share BSE Sensex jumped 727.71 points, or 1.10%, to end at 66,901.91.

India Shelter Finance files for ₹1,800 crore IPO paper with Sebi Two additional companies that received approval from the regulator to launch their initial public offerings are Shiva Pharmachem, based in Vadodara, and Onest Ltd, a fast-moving consumer goods (FMCG) company. Five companies had submitted initial public offering (IPO) documents or draft papers to the regulator from July to August received observation letters between November 7 and 16, according to a Tuesday update from the Sebi. Also read: Shiva Pharmachem files DRHP to raise ₹900 crore via IPO In Sebi's terminology, securing observation letters implies approval to initiate the IPO.

Maruti Suzuki India Ltd, Tata Motors Ltd and Mahindra & Mahindra ltd amongst others. For Passenger Vehicles, retails are expected to grow 6-8% YoY during the month of November largely driven by the festive season demand, said analysts at Motilal Oswal Financial Services. For Passenger Vehicles, festive period growth was largely underpinned by healthy SUV (sports utility Vehicles) demand and 25-30% higher discounts YoY for lower-end model, as per analysts at Motilal Oswal Financial Services.

Hero MotoCorp Ltd, TVS Motor Company Ltd, Bajaj Auto Ltd with gains of 1-4.5% scaled 52-week highs on Wednesday. The sentiments on two-wheeler manufacturers have improved led by strong festive season sales. The S&P BSE Auto Index is up almost 10% in November as all automobile sales are likely to have caught pace during the festival season For the two-wheeler manufacturers the retails are expected to grow 9-11% year-on-year in November’2023, led by strong demand in the first half of the month, wherein volumes grew 14-16% year-on-year, said analysts at Motilal Oswal Financial Services.

₹121 to ₹126. Investors can bid for a minimum of 1000 shares and in multiples thereof.