IPO Financial News

Thailand extends visa-free entry to Indian and Taiwanese tourists for six months Air India holds an advantage over IndiGo in terms of transferring passengers, as all its operations are under one roof. However, for international-to-international transfers, both airlines stand on equal footing. Seven of Thailand's top ten source markets are Asian countries, with the remaining three being Germany, the UK, and the USA.

Tata Technologies IPO: After closure of subscription of the initial public offering (IPO) of Tata Technologies Ltd, all eyes are now set on Tata Technologies IPO allotment date and Tata Technologies IPO listing date. In the wake of T+3 schedule, Tata Technologies IPO allotment date is most likely on the following trade date of three days bidding. As Tata Technologies IPO closed on Friday, Tata Technologies IPO allotment date is likely on Tuesday as stock market remains closed on Saturday Sunday.

₹1.5 trillion. It was followed closely by Gandhar Oil Refinery (India) Ltd at 65.63 times and Flair Writing Industries Ltd at 49.28 times. Fedbank Financial Services saw a more modest reception at 2.2 times.

₹2.59 lakh crore in the five recently concluded mainboard initial public offerings (IPOs). The week-long bidding frenzy gripped investors as the five companies -Tata Technologies Ltd., Gandhar Oil Refineries Ltd., Fedbank Financial Services Ltd., Flair Writing Industries Ltd, and Indian Renewable Energy Development Agency (IREDA) Ltd sustained the IPO pulse in India's primary markets.

Rockingdeals Circular Economy was subscribed 142.16 times on the last day of bidding on Friday. The SME board IPO received over 21.35 crore bids against the issue size of 15 lakh shares as of 4:30 pm. As a result of this overwhelming response to the IPO, the share is already demanding a 30% premium on the issue price of Rs 136-140/share in the grey market. The IPO opened for subscription on November 22, Wednesday. The company planned to raise Rs 21 crore through fresh issue of shares.

Multibagger stock: Shares of Rattanindia Enterprises Ltd are one of the multibagger stocks that Indian stock market has produced in current financial year. After bottoming out at around ₹33 apiece levels at the end of March 2023, this drone maker stock has risen to a new high of ₹81.60 apiece levels on NSE during Friday deals, delivering around 150 per cent return in FY24. RattanIndia share price had hit new high on Thursday session as well.

Global Health (Medanta) have almost turned multibaggers in the last 1 year, surging over 99 percent as against an over 8 percent gain in benchmark Nifty. The stock has already more than doubled its investor wealth, surging 167 percent, from its issue price of ₹336. Meanwhile, in 2023 YTD, it has advanced over 91 percent, giving positive returns in 9 of the 11 months so far and negative in just 2 - April (-2 percent) and (January -5.2 percent).

₹1,092.26 crore IPO of Fedbank Financial Services, a retail-focused non-banking finance company promoted by Federal Bank, has achieved full subscription on the last day of bidding (November 24). At 12:30 PM, the issue had garnered bids for 7,33,03,453 shares against the available 5,59,23,660 shares, resulting in a subscription rate of 1.31 times. The retail segment displayed notable interest, with a subscription rate reaching 1.51 times.

GMP: The company's shares in the grey market are trading at a healthy premium of ₹76, indicating a 45 percent premium at listing. However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly. The ₹501 crore IPO of Gandhar Oil opened for subscription on November 22 and will close on November 24.

Tata Motors’ subsidiary, Tata Technologies Ltd, has received strong investors’ response with a record number of IPO applications. The Tata Technologies IPO, which opened for subscription on November 22, will close today, November 24. Read Tata Technologies IPO LIVE Updates here Amid huge interest from investors across the board, Tata Technologies IPO got oversubscribed heavily within hours of opening.

BSE. Flair Writing IPO subscription status was 2.18 times on day 1.

IERDA IPO: The three days subscription for the initial public offering (IPO) of Indian Renewable Energy Development Agency Ltd closed on Thursday and now applicants are eagerly waiting for IREDA allotment date, which is expected any time today. As per IREDA IPO subscription status, the public issue got subscribed 38.80 times whereas its retail portion got subscribed 7.73 times. As per the T+3 schedule, IREDA IPO allotment date is most likely today as Monday will be stock market holiday for Gurunanak Jayanti.

a 20 percent jump in the previous session, shares of Mamaearth-parent Honasa Consumer hit a new record high in intra-day deals on Friday on the back of strong September quarter (Q2FY24) results and global brokerage Jefferies raising target price. The stock surged as much as 14.5 percent in intra-day deals today to hit its new high of ₹484. Meanwhile, in just 2 sessions, it has soared 37 percent.

Gurmeet Chadha, CIO & Managing Partner, Complete Circle Consultants, says “we are playing power through power generation which is Tata Power, also had some exposure to CG Power. Then we are playing it through the transmission space which is Power Grid, among others. Some of the stocks are fairly valued, including Coal India and NTPC. So that is one way. Then we have the renewable sources to play, which is Praj Industries and that is more on bio-fuel. The third way is through the financiers and just see the move in REC and PFC, the way they have run up. That has been the most long, secular play.” What all do you own in power because from legacy companies, wires and cables, transmission towers, financiers, there is a big bouquet out there in power? Absolutely. And as we were discussing in the morning we are playing it through power generation which is Tata Power, also had some exposure to CG Power. Then we are playing it through the transmission space which is Power Grid and there is a proxy play to power through a company which is basically a defence company into explosives, got the largest order from Coal India for Rs 3000 crore – Solar Industries. The stock has run up quite a lot. 40% of the revenue comes from Coal India, which again is mainly on power generation.

IREDA) was subscribed 38.8 times on Thursday — the last day of the issue — led by strong demand from all investor categories. The highest bids came from the QIB category, which was subscribed nearly 105 times.

Tata Technologies IPO: The Tata Group's much-awaited initial public offering (IPO) has created a record of attracting the highest number of applications on its issue among private sector companies, according to domestic brokerage Nuvama Institutional Equities. With 50.6 lakh applications till the second day of its issue, Tata Technologies IPO has gripped the pulse on D-Street.

BSE. On the first day of bidding, the issue was fully subscribed with bids coming in for 89 million shares as against a total of 21 million offered shares. The public issue was subscribed by a total of 4.2 times led by retail and non-institutional investors (NIIs), as of 3:15 pm.

₹1,092.26 crore IPO of Fedbank Financial Services, a retail-focused non-banking finance company promoted by Federal Bank, continued to witness subdued interest from investors on its second day of bidding. Also Read: Fedbank Financial Services IPO: Issue receives tepid response from investors on Day 01 Investors bid for 5,05,84,571 shares on the second day (November 23) against the available 5,59,23,660 shares, translating into a subscription rate of 90%, as per BSE data. Notably, the retail segment exhibited decent demand as the subscription rate reached 1.26 times.

BSE SME. The refund process will begin on Friday, November 24, and shares will be credited to the Demat account of those allotted on Tuesday, November 28.

HDFC Securities, in its latest report, initiated coverage on Sai Silks (Kalamandir) with a 'buy' recommendation, setting a target price of ₹385 apiece. This target price implies an upside of 36% for the stock from its previous closing price of ₹285 apiece. Launched in FY05, Sai Silks (Kalamandir) Ltd (SSKL) is one of the largest apparel retailers in south India, offering products across ethnic wear (sarees) and value fashion.

₹30 to ₹32 per equity share of face value of ₹10. IREDA IPO lot size is 460 equity shares and in multiples of 460 equity shares thereafter.