IPO Financial News

OpenAI, a nonprofit, has seen an amazing corporate battle playing out over the past few days. Last week, the Board summarily sacked CEO Sam Altman and President Greg Brockman. Both are co- founders.

₹600.77 crore via the issuance of fresh equity shares, whereas existing shareholders and promoters will offload 35,161,723 shares, aggregating to ₹492.26 crore. The total size of the IPO was ₹1,092.26 crore. The price band for the offer has been fixed at ₹133–140 per equity share with a face value of ₹10 each.

ITC and Reliance Industries shares. Foreign institutional investors (FIIs) on Wednesday sold stocks of Indian companies worth ₹8,418.29 crore and bought stocks for ₹8,111.73 crore, resulting in an outflow of ₹306.56 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹6,749.42 crore and offloaded shares worth ₹6,028.18 crore, resulting in an inflow of ₹721.24 crore, the exchange data showed.

₹136 to ₹140. Investors can bid for a minimum of 1000 shares and in multiples thereof.

Dinshaw Irani, CIO, Helios MF, says “the RBI circular on raising risk weightages for various lending, made banks go back to the pre-Covid levels. The only thing was they came down heavily on the NBFCs rather than anything else. So that is the good part about the RBI move. I think they have done a wonderful job in controlling the asset quality within the system as such. That is one thing one should look out for. ” Have you picked anything up or looked at any interesting companies? There have been a lot of debuts this week? I would not like to comment on this, since now we are running a mutual fund, but I do not think we are too excited in the IPO market as of now. I would stay away from that. What else are you avoiding completely, where you say valuations are higher even though business is good? Basically, FMCG is one area which one needs to avoid. I do not think sustenance of 60-70 PEs for most of these stocks – I am talking about one-year forward PEs – is possible, given that even the rural markets are not firing and the growth rates are in low teens or even high single digits as such. So, that is one area that you need to avoid.

Linc Ltd (with P/E ratio of 33.50), Kokuyo Camlin Ltd (with P/E ratio of 56.82), and Cello World Ltd, as per Red-herring prospectus (RHP). "Exciting news! Mint is now on WhatsApp Channels

₹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. With non-institutional investors (NIIS) leading the way and retail investors following, the IREDA IPO maintained strong momentum from the first day of subscriptions on day 2.

Bharti Airtel has started the process of taking its wholly-owned subsidiary Bharti Hexacom public, a media report stated. The move is aimed at facilitating an exit to Telecommunication Consultants of India Limited (TCIL), which has a 30% stake in the company and is a Government of India enterprise, the report said. The report further said Bharti Hexacom's valuation is likely to be pegged at Rs 20,000 crore and the listing process will likely be completed by early 2024. Bharti Airtel's holding in Bharti Hexacom stands at 70%.

Siddhesh Mehta, Research Analyst, SAMCO Securities, says “if the investors are investing in the Tata Technologies IPO with the motive of listing gains, then they should not enter the IPO if there is a big gap up. But if they are entering with a long-term perspective, then the IPO is worth investing for the investors. The investors should not miss this opportunity.” What is your view on Tata Technologies? It is a must subscribe, but post that, is it a must buy even if there is a gap up listing? The Tata Technologies IPO garnered significant attention following the filing of its DRHP and today it has made its debut on Dalal Street. The earnings valuation is relatively cheap. We can also say that the IPO has an attractive and not an aggressive valuation. So, with a long-term perspective, we can subscribe to the IPO even after a big gap up because the Tata Group has its name as its legacy.

Shareholders in Tata Investment Corp must be laughing all the way to the bank right now. The stock is up a huge 33% in the last one week whereas the gains over the last three months and the last one year stand at 75% and 83% respectively. This is almost double the returns earned by the BSE Smallcap index and quite good to be honest.

Tata Technologies, the third-biggest IPO (in terms of issue size) in 2023, opened for subscription today and will conclude on November 24. The company aims to raise ₹3,042.51 crore through the IPO, which is a complete offer for sale (OFS). The company has set the price band in the range of ₹475–500 apiece.

₹500.69 crore from the public offer. The company had filed its draft red herring prospectus in December 2022 and received market regulator Securities & Exchange Board of India’s (SEBI) approval in June this year. Gandhar Oil Refinery India has a leading market share in the Indian white oil market with significant overseas presence.

BSE Midcap index rising 38.8% and S&P BSE Smallcap Index rising 47.5% during the fiscal year 2024. The same is being supported by the earnings growth being clocked by these companies. The declining commodity prices have benefitted small and mid-cap stocks that saw strong margin expansion drive earnings growth.

Gandhar Oil Refinery India will open for subscription today and remain open until November 24. The company aims to raise ₹302 crore via the issuance of fresh equity shares, whereas existing shareholders and promoters will offload 11,756,910 shares, aggregating to ₹198.69 crore. The total size of the IPO was ₹500.69 crore.

Coal India share price has surged significantly in the calendar year 2023 yet experts and brokerage firms anticipate further double-digit gains, indicating that the stock's momentum is expected to continue. As of the November 21 close, Coal India share price has jumped 48.4 per cent this year, strongly outperforming the equity benchmark Sensex which has gained just 8.4 per cent in the same period.

Also Read: Tata Technologies IPO vs IREDA IPO vs Gandhar Oil Refinery IPO: Which upcoming IPO is better? The products were sold in more than 100 countries worldwide as of June 30, 2023. With the support of our extensive global supplier base and manufacturing operations in India and the United Arab Emirates, Gandhar Oil Refinery India served over 3,500 customers in the Financial Year 2023, including well-known Indian and international businesses like Procter & Gamble (P&G), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj Consumer Care, Emami, and Amrutanjan Healthcare, as per Red-herring prospectus (RHP).

₹600 crore and an offer for sale (OFS) of up to 3.51 crore shares by selling shareholders. Fedbank Financial Services IPO price band has been fixed in the range of ₹133 to ₹140 per equity share and the company plans to raise a total of ₹1,092.26 crore from the upper end of the price band. The OFS comprises up to 54.74 lakh equity shares by its promoter Federal Bank and up to 2.96 crore shares by True North Fund VI LLP.

₹3,042.51 crore from the IPO which is entirely an offer for sale (OFS) of 6.09 crore equity shares by the promoter and investors. Promoter Tata Motors will offload 4.62 crore equity shares worth ₹2,313.75 crore in the OFS, while investors Alpha TC Holdings Pte Ltd will sell 97.17 lakh shares and Tata Capital Growth Fund I will offload 48.58 lakh shares in the Tata Technologies IPO. Also Read: Tata Tech IPO fully subscribed in less than an hour of opening; retail section gets full subscription Tata Technologies IPO price band has been set at ₹475 to ₹500 per share.

₹600.77 crore via the issuance of fresh equity shares, whereas existing shareholders and promoters will offload 35,161,723 shares, aggregating to ₹492.26 crore. The total size of the IPO was ₹1,092.26 crore. The price band for the offer has been fixed at ₹133–140 per equity share with a face value of ₹10 each.

₹475 to ₹500 per equity share of face value of ₹2. At the upper end of the price band, Tata Tech IPO is expected to raise ₹3,042.51 crore.

Fedbank Financial Services IPO opens today: The initial public offering (IPO) of Fedbank Financial Services Ltd has hit primary market today and it will remain open for bidding till 24th November 2023. This means Fedbank Financial Services IPO opens today and it will remain open for bidders till Friday this week. The NBFC has fixed Fedbank Financial Services IPO price at ₹133 to ₹140 per equity share.