IPO Financial News

₹329.99 crore, today. Fedbank Financial Services Limited, in consultation with the Book Running Lead Managers (BRLMs), initiated a Pre-IPO placement of 23,571,428 equity shares at the upper end of the price band of ₹140 per equity share, and received board approval, the company said in an exchange filing.

Indian Renewable and Energy Development Agency (IREDA) subscribed 53% in the first two hours on the first day of the bidding process on Tuesday. At 11.53 a.m., the public issue was subscribed 0.53 times, led by retail investors, whose category was subscribed 84%. The issue was subscribed to 51% in the NII category.

Tata Technologies IPO: The initial public offering (IPO) of the Tata Technologies Ltd is going to hit Indian primary market on 22nd November 2023 i.e. on tomorrow. Tata Technologies IPO date of subscription will remain open till 24th November 2023 i.e.

Listed healthcare imaging software business Pro Medicus’ two founders began selling down $176 million worth of stock on-market just before midday, after a strong run in the company’s share price.

general elections next year, elevated valuations, a rush in the primary market, and a significant increase in midcap and small-cap share prices have meaningfully changed the investment dynamic. Further, on top of the Russia-Ukraine war, the world is now closely watching the Israel-Hamas conflict and its possible spillover on commodity prices and global inflation. While the Israel-Hamas conflict is still confined to this region and probably not escalating much because of the intervention of the other developed nations, globally, investors have started to price in higher geopolitical risk.

₹2,150 crore through the IPO, consisting of a fresh issue of ₹1,290.13 crore and an offer for sale of ₹860.08 crore. The price band for the offer has been fixed at ₹30–32 per equity share, with a face value of ₹10 each. The net offer will be reserved for qualified institutional buyers at 50% of the total offer size, non-institutional investors at 15%, and retail investors at 35%.

₹30 to ₹32 per equity share of face value of ₹10. Some of the key risks highlighted by IREDA in its Red Herring Prospectus, or RHP, include- 1- IREDA's business and financial performance could suffer if it is unable to effectively manage the quality of its growing asset portfolio and control the level of our non -performing assets ("NPAs") 2- Volatility in interest rates could adversely affect IREDA business, net interest income and net interest margin, which in turn would adversely affect business, results of operations and financial condition. 3.

Also read- IREDA IPO opens today. GMP, price, review, other details. Apply or not? Motilal Oswal Financial Services also said that large manufacturers as Hindustan Unilever Ltd, Britannia Industries Ltd and ITC Ltd reported low single-digit revenue growth, and muted volume growth due to intensified competition from smaller players.

Ajay Srivastava, CEO, Dimensions Corporate Finance Services, says there are three sectors where he will love to buy on dips. One is MNC infrastructure stocks. Three or four of them qualify in that category straightaway. Number two, are companies like the payment system and the food delivery companies. Finally,. defence PSUs represent the best opportunity because the runway is unlimited and there's a monopoly. The worst, because the government’s diktat on what they make on every order can change the fortune of the company. High risk, high reward, it is Poker at best. Let us look at something where you will say, I want to buy this stock and I am just waiting for a better entry point. It could be 5%, it could be 15% or it could be 20%. That is a judgment call. Which are the names where the business is durable enough to give you a 20-25% growth? You are just waiting for the right price, maybe that moment of panic, or that moment of turbulence in the market, and you are happy to press the buy button. Ajay Srivastava: Very clearly, the MNC infrastructure stocks.

IREDA IPO: The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) has hit Indian primary market today and it will remain open till 23rd November 2023 i.e. Thursday this week. The PSU has fixed IREDA IPO price band at ₹30 to ₹32 per equity share and the book build issue is proposed for listing on BSE and NSE.

ABB India: ABB and Titagarh Rail Systems have formed a strategic partnership to supply propulsion systems for metro rolling stock projects in India. HDFC Life Insurance Company: Karnataka Bank has formed a strategic partnership with HDFC Life Insurance to offer life insurance products to its customers. RateGain Travel Technologies: The company said on November 20 that it has raised over ₹600 crore from qualified institutional buyers (QIBs).

IPO) market is red hot, with five issues worth ₹7,400 crore opening for subscription this week, but enthusiasm is muted among finance companies that have historically lent to bidders in such share sales. With stringent rules on IPO financing put in place by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi), these lenders are keeping market borrowings at a bare minimum. Subscriptions at a High In November so far, non-banking financial companies (NBFCs) have raised Rs 3,500 crore through commercial papers (CP), bringing the total borrowing through the route for the year to Rs 20,100 crore, according to Icra. In 2022, NBFCs raised Rs 45,740 crore through the instrument.

Shares of Tata Investment Corporation surged to a lifetime high on Monday, buoyed by prospects of value unlocking ahead of the initial public offering of Tata Technologies, the first by a Tata group company in nearly two decades. While Tata Investment Corp, a listed holding company for several Tata group companies, does not directly own a stake in Tata Technologies, it owns a 0.33% stake in Tata Motors, which is Tata Technologies' parent entity. Tata Investment shares, which have gained nearly 43% in the last four sessions, jumped 15% on Monday to close at ₹4,501.75. «The stock is in an uptrend, but given that the support level is very far, trading could be risky in the shares,» said Sahaj Agrawal, the head of research for derivatives at Kotak Securities.

₹643.26 crore from anchor investors including Goldman Sachs, ahead of the launch of its initial public offering (IPO). IREDA IPO opens for subscription on Tuesday, November 21, and will close on Thursday, November 23.

NEW DELHI : Purple Style Labs, the parent of luxury fashion omni-channel platform Pernia’s Pop-Up Shop, has secured an $8-million (about ₹66.6 crore) Series-D round led by Sanket Parekh of the Pidilite family office, with participation from Signet, the family office of Harish Shah, Hira Group’s family office and other investors. Existing investors also participated, including Singularity Growth Opportunities Fund I, Neelesh Bhatnagar of NB Ventures, fashion designer Masaba Gupta, and the former partners of Premji Invest, Rahul Garg and Atul Gupta. The company was valued at $352 million for the fundraising.

Sectorally, buying was seen in IT, telecom, healthcare and public sector stocks while selling was seen in auto, utilities, capital goods, and FMCG stocks. Stocks that were in focus on Monday include names like Tata Investment Corporation which was up more than 15% to hit a fresh record high, Mankind Pharma rose nearly 5% and ITI Ltd closed with gains of more than 7% to hit a fresh 52-week high. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Here’s what analyst Ankit Choudhary Co-Founder, Financial Independence Services, SEBI Registered Investment Advisors (Registration Number — INA100008939) has to say: ITI We had mentioned the re-rating of ITI when it launched its laptop and PC range under the brand name of Smash to compete against DELL, Acer and Lenovo in September. It was trading around 177 and then in October we advised existing investors to hold this stock with a stop loss of 184 as it was on the verge of giving a Pole & Flag pattern breakout above 230. The stock has seen an ATH of 337 on 18th Oct and is consolidating in a range.

₹176 apiece on NSE, keeping up the last week’s gaining streak. However, Nykaa stock closed at ₹172.85 on Monday, against previous close at ₹167.65 per share on Friday. The shares of beauty and fashion ecommerce platform had jumped nearly 11% to ₹170 per piece during Friday’s intraday session, hitting 11-month high.

₹475 - ₹500 per equity share, against the issue price of ₹340 - ₹345 per piece. Analysts noted the commendable increase in Tata Technologies IPO Grey Market Premium (GMP) despite the subdued sentiments prevailing on Dalal Street. Over the span of two days, the Tata Technologies IPO GMP surged from approximately ₹240 to ₹375, indicating a robust investor response as the public issue is set to open on November 22, 2023.

Buying and selling of the Tata Tech stocks has bee... moreBuying and selling of the Tata Tech stocks has been barred in the unlisted market ahead of the IPO on 22nd November.

The IPO offer of this state-owned company will close on November 23. It is the first IPO by a public sector enterprise after Life Insurance Corp's public issue in May last year. The Mini Ratna company is actively promoting, developing, and extending financial assistance for new and renewable energy projects as well as energy efficiency and conservation projects with a strong track record of growth, geared towards high-quality assets and diversified asset book and stable profitability, SMC said in an IPO note. Government's push towards renewable energy projects is expected to increase, SMC said even as it maintained that the company could suffer if it is unable to maintain and effectively manage the quality of its growing asset portfolio and NPAs. The IPO with a face value of Rs 10 consists a fresh issue of up to 40.3 crore equity shares and an offer for sale (OFS) of up to 26.8 crore equity shares by the government. About 50% of the IPO will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. The proceeds from the fresh issue will be used for augmenting its capital base to meet its future capital requirements and onward lending. IREDA has an impressive track record spanning over 36 years in the field of fostering and providing financial support for fresh and sustainable energy (RE) projects, as well as energy efficiency and conservation (EEC) initiatives. The company is India's largest dedicated green financing non-banking financial company (NBFC). The organization offers a comprehensive array of financial products (fund and non-fund-based) and associated services, from project inception to post-completion,

₹778 compared to the issue price of ₹587 apiece. Later, it finished the first day with a 17.5% gain at ₹690. The stock has experienced a one-way spike since its listing, and it is now up by 321% at ₹2,474 apiece as against its issue price.