IPO Financial News

Tata Technologies IPO: The Tata Group's much-awaited initial public offering (IPO) is all set to open for subscription today (November 22, 2023). Tata Technologies IPO has gripped the pulse on D-Street, being the first issue from the group firm after nearly 20 years. Tata Consultancy Services (TCS) was the last IPO from the Tata Group which got listed on the bourses in 2004.

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says both the dominant segments where Tata Technology is involved are supposed to be exploding at this stage. Tata Technology will benefit from a credible management, fantastic track record, and a great parentage. The valuation at which it is coming is also very reasonable compared with its peers. The Tata Tech IPO will open on November 22 after a hiatus of almost 18 to 19 years from the Tata stable. The IPO price band has been decided at Rs. 475-500. Despite that, the implied valuation turns out to be around Rs 20,000 odd crore. Tata Tech's valuations are around 25 to 30 times forward earnings and that compares with an L&T Tech which is upwards of 35 times. KPIT Tech which is trading at 60 times forward earnings. Tata Elxsi is close to 65-70 times. What is your view on Tata Tech? Well, I am extremely positive.

Flair Writing IPO: The initial public offering (IPO) of Flair Writing Industries Limited has opened today and the book build issue will remain open for bidding till 24th November 2023. The stationary brand has fixed Flair Writing IPO price at ₹288 to ₹304 per equity share. The public issue worth ₹593 crore is proposed for listing on BSE and NSE.

Gandhar Oil Refinery IPO: The initial public offering (IPO) of Gandhar Oil Refinery Ltd has hit primary market today and it will remain open for bidding till 24th November, 2023. The white oil manufacturer has fixed Gandhar Oil IPO price at ₹160 to ₹169 per equity share. The oil maker aims to raise ₹500.69 crore from its initial public offer and it is proposed for listing on both BSE and NSE.

TCS's petition to file an appeal against the orders passed by the US Court of Appeals in the Epic Systems Corporation matter. It confirmed the punitive damages award of $140 million passed by the District Court of Wisconsin.

₹324.67 crore from anchor investors, a day before the opening of its initial public offering (IPO) on Tuesday, November 21. The company listed the names of the 22 investors who took part in the anchor book in a regulatory filing.

Fedbank Financial Services (Fedfina) has raised 324.6 crore from 22 anchor investors by allotting 23.2 million shares at the upper price band of 140 per equity share ahead of its IPO.

The board of Guzman y Gomez forced its chief executive, Steven Marks, into a secret plan “involving cult-like life coaches and non-legal advisors to try to transition him to a credible, reliable executive”, the former management team responsible for the group’s expansion into North America has claimed.

Multinational crypto mining and blockchain giant Phoenix Group has achieved a significant milestone in its initial public offering (IPO) raise.

MUMBAI : After nearly two decades, a company from the Tata group stable is gearing up for its stock market debut. This itself is enough to stir excitement. Enter Tata Technologies Ltd, the initial public offering (IPO) of which opens for subscription today.

MUMBAI : The initial public offering (IPO) of state-owned Indian Renewable Energy Development Agency Ltd (Ireda) opened on Tuesday and attracted investors across categories, reflecting the rising prospects for renewable energy financing in the Indian market. Overall, the IPO was subscribed 1.96 times, with bids received for a total of 921 million shares against the 471 million shares on offer. The response suggests that investors are confident of Ireda’s prospects as India’s largest green financing non-banking financial company (NBFC).

₹177 crore from 23 anchor investors by allocating 58,51,972 equity shares at the price band of ₹304 (including share premium of ₹299 per equity share). “Out of the total allocation 58,51,972 Equity Shares to the Anchor Investors, 27,70,264 Equity Shares (i.e. 47.34% of the total allocation to Anchor Investors) were allocated to 6 domestic mutual fund have applied through a total of 14 schemes," the company informed the exchange houses.

Flair Writing Industries Ltd, on Tuesday, said it has mopped up Rs 178 crore from anchor investors. The company has allocated 58.52 lakh equity shares to 23 funds at Rs 304 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. Those that participated in the anchor book include — SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Tata MF, ICICI Prudential Life Insurance Company, SBI Life Insurance Company, Troo Capital and Winro Commercial (India) Ltd.

₹324. On 10 November, the stock’s price fell during the day to a low of ₹256, which was more than a fifth lower than its issue price. Since then, the company’s stock price has recovered, and on Tuesday it closed at around ₹367, or a little over 13% higher than its issue price.

₹150 crore from 16 anchor investors on November 21, a day before its initial public offering (IPO) set to open for bidding, at the allocation price of ₹169 per equity share. Around 47.58% of the total allocation of equity shares to anchor investors have been allocated to 3 domestic mutual funds, applied through 7 schemes on Tuesday, which is worth ₹71 crore. Gandhar Oil IPO date of subscription is scheduled for Wednesday, November 22, and will close on Friday, November 24.

₹791 crore from 67 investors via anchor book on Tuesday, November 21, a day before its initial public offering (IPO) opens for bidding. The funds were raised at the upper limit of the ₹475-500 price range. Tata Technologies IPO, which will be the first public offer from Tata Group company in almost 20 years, will open for bidding on November 22 and will close on November 24.

Tata Technologies on Tuesday raised about Rs 791 crore in the anchor round ahead of the issue opening on Wednesday. The IPO, which closes on November 24, is the first from Tata Group since the debut of TCS. The Board in consultation with book-running lead managers JM Financial, Citigroup Global Markets and BofA Securities finalised the allocation of 1.58 crore shares to anchor investors at Rs 500 apiece. Some of the marquee funds which participated in the anchor round include Fidelity, HSBC, Goldman Sachs, JM Financial MF, Kotak MF, Axis MF, Motilal Oswal, Edelweiss MF, Mirae Asset among others. The IPO was priced in the range of Rs 475-500, where investors can bid for a minimum of 30 shares in one lot. At the upper price band, the issue size is about Rs 3,042 crore. The public offer is entirely an offer for sale (OFS) of 6.08 crore shares, under which, Tata Motors, Alpha TC Holdings and Tata Capital Growth Fund will participate. The weighted average of the cost of acquisition for Tata Motors is Rs 7.40 per share and Rs 25.10 for investors Alpha TC Holdings and Tata Capital Growth Fund I. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Gandhar Oil Refinery Gandhar Oil Refinery shares are commanding a premium of Rs 61 in the unlisted market, according to market analysts. The price band of this public issue is fixed at Rs 160-169. If the trends are sustained, the stock is expected to list at a healthy premium of 36%. The offer comprises a fresh equity issue of Rs 357 crore and an offer for sale (OFS) of Rs 143 crore.

United Spirits share price, Radico Khaitan share price and United Breweries share price have gained 12-28% in the last six months. The tide is turning favorably as analysts now maintain a positive view on margins. The volume growth though has remained a mixed bag in first half, however analysts are positive on demand in the near term to be driven by wedding season, festive season and events during the ongoing quarter.

IPO) of Gandhar Oil Refinery will open for subscription on November 22. The issue closes on November 24.

₹719.90 apiece. This boost followed the Ministry of Railways (Railway Board) granting approval to the company to engage in long-term tenders spanning 7 years (comprising an initial term of 5 years with the potential for an additional 2 years based on satisfactory performance) through clustering of trains.