IPO Financial News

₹38 on its debut on 11 October, followed by Sungarner Energies Ltd, which opened at ₹250 on 31 August, a premium of 201% over its issue price. Basilic Fly Studio Ltd listed at ₹271 on 11 September, a premium of 179% over the issue price of ₹97.

Ajay Srivastava, CEO, Dimensions Corporate Finance Services, says “the Indian market is about momentum investing. This market is about new stories coming out. This market is about government spending themes. So, you would waste your time if you buy value in this market. Value can go on forever to not be recognised and really speaking at PEs of 25 and 30s, except for banks, it is really difficult to find value. So, forget value.” Markets are doing much better than what everybody thought at the beginning of the year. Well, yes. The answer is yes. But if you look at the vast majority of people who have got invested in largecap funds and who got invested in the banking fund, for them it has not been a good year at this point of time. There are big pockets of market which have done reasonably well or quite well or exceedingly well in that order in the midcaps and smallcaps but if you look at the vast universe of money invested in the largecaps, that has been a very disappointing year for them and we keep saying it is going to repeat itself next year and that is the sad irony that a large portion of funds of retail public are not making even a decent return.

REC Ltd (with P/E of 7.71), and Power Finance Corporation (with P/E of 4.79), as per the RHP. Also Read: IREDA IPO: GMP, price, lot size, other details of upcoming IPO.

₹66.6 crore) in a series-D funding round led by Sanket Parekh of the Pidilite family office. The funding had been raised at a valuation of $352 million, said Purple Style, the parent company of Pernia’s Pop-Up Shop, a luxury fashion omnichannel platform. The round also saw participation from Signet (Harish Shah’s family office), Hira Group’s family office and other investors.

Hindustan Aeronautics and IDFC First Bank are among the seven stocks that will be included in the S&P BSE 100 index, while Tata Elxsi, Voltas and Adani Group stocks Adani Power and ACC, among 3 others will be excluded from the index. Asia Index Pvt Ltd, a 50-50 partnership between S&P Dow Jones Indices LLC and BSE Ltd, on November 17 announced the reconstitution of S&P BSE Indices.

Also Read- Tata Technologies IPO: GMP remains steady. Price, lot size, other details of upcoming IPO Q2 was a disappointing quarter all across the chemicals segment said Rohit Nagraj at Centrum Institutional Research. Severely impacted by weakness in exports markets coupled with pricing pressure, chemical companies reported their weakest performance in the past several quarters, said Nagraj.

Gold rate today: On account of nosediving US bond yield and US dollar index, gold price today opened upside at ₹60,719 per 10 gm levels on Multi Commodity Exchange (MCX). MCX gold rate further extended its morning gains and went on to hit intraday high of ₹60,774 per 10 gm levels within few minutes of commodity market's opening bell today. In international market, spot gold price is oscillating around $1,982 per ounce levels.

Bonus shares 2023: Shares of Olatech Solutions Ltd will be in focus today as the stock is trading ex-dividend today. The board of directors of Olatech Solutions Ltd has fixed 20th November 2023 as record date for issuance of bonus shares in 17:20 ratio.

Tata Technologies IPO: the initial public offering (IPO) of Tata Technologies Ltd is going to hit primary market on 22nd November 2023. Bidding for Tata Technologies IPO will remain open till 24th November 2023. Hence, Tata Technologies IPO will open on Wednesday this week and it will remain open for bidders till Friday this week.

global market cues including US bond yields, crude oil prices, and performance in US markets. On Friday, the domestic equity benchmark indices ended lower. The Sensex ended 187.75 points, or 0.28%, lower at 65,794.73 while the Nifty 50 declined 33.40 points, or 0.17%, to settle at 19,731.80.

Dividend stocks 2023: Shares of Anupam Rasayan India Ltd, Aurobindo Pharma Ltd, Balrampur Chini Mills Ltd, Bella Casa Fashion & Retail Ltd, Cochin Shipyard Ltd, Dolat Algotech Ltd, GMM Pfaudler Ltd, GM Polyplast Ltd, Kaveri Seed Company Ltd, Mazagon Dock Shipbuilders Ltd, Olatech Solutions Ltd, and Atul Ltd will be in focus when stock market opens today. The board of directors of these companies has declared an interim dividend, bonus issues, and buyback of shares for its eligible shareholders.

primary market will be abuzz with activity in the week ahead with five companies scheduled to launch IPOs (Initial Public Offerings) worth over ₹7,000 crore. Analysts said the strong sentiment in the secondary market could help these IPOs and advise investors to subscribe to these issues at least for listing gains.

₹7,300 crore collectively. But a more interesting bunch of at least nine new-age tech startups is polishing its offerings, preparing to tap the markets after next year’s general election. FirstCry, Oyo, Lenskart, Swiggy, PayU, MobiKwik, Infra.Market, OfBusiness and PhonePe are among the new-age tech startups looking to raise over $2 billion in 2024 (around ₹16,600 crore at the current exchange rate), bankers and company executives said.

NEW DELHI — India's initial public offering (IPO) landscape is bustling with activity as five companies, including Tata Technologies and the Indian Renewable Energy Development Agency (IREDA), are set to collectively raise over Rs 7,300 crore. This move comes amid a spike in IPOs, with recent offerings from other companies such as ASK Automotive and Honasa Consumer, which features the Mamaearth brand.

₹136 - ₹140, with a face value of ₹10 per share and market lot of 1000 shares. Specializing in bulk trading of surplus inventory, open-boxed items, re-commerce products, and refurbished goods, the company aims to raise ₹21 crore through the IPO. This fundraising effort exclusively involves a fresh issue of shares.

market valuation of seven out of the top 10 valued firms witnessed a significant increase of ₹1,50,679.28 crore (or ₹1.50 lakh crore) in the past week, PTI reported. This surge was primarily led by IT giants Tata Consultancy Services (TCS) and Infosys, amidst a generally positive trend in equities, it added.

IPO) lane will be busy in November with five companies, including Tata Technologies and Indian Renewable Energy Development Agency Ltd, tapping the primary market next week to raise over Rs 7,300 crore collectively. The other three companies whose maiden public issues are ready to open are Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery India. Together, these five companies are expected to fetch more than Rs 7,300 crore through the IPOs, data from the stock exchanges showed.

Hemang Jani, Independent Market Expert, says “the way TVS has responded to the EV threat and come out with various products, makes it look very compelling and it has been the best performing stock in the last about 12 months. But in terms of valuations, I still prefer a Bajaj or a Hero compared to a TVS because it has run up so much.” TVS Motors is not cheap by any valuation metric but the stock is continuously doing very well, from Rs 1,450 odd, it is knocking at Rs 1,700. Ahead of the Ola Electric IPO, people are noticing that even TVS Motor has a very large EV play, which is at least 65-70% of Ola Electric operations and numbers. Could there be a case of value unlocking in TVS? We see growth revival across the two-wheeler sector versus the passenger or the commercial vehicles. People had this thought that maybe the two-wheeler segment is not growing, and there is an issue on the rural side. But the recent numbers, the festive season sales, clearly suggest that the two-wheeler growth is back. The new launches that are in the premium category have received a good response. In TVS, earlier, 40% of their portfolio had the risk of disruption because of the EV and it was not very clear as to how exactly the company is going to deal with it. But the way the company has responded to that and come out with various products, it looks very compelling, which is why TVS has been the best performing stock in the last about 12 months.

Andrew Holland, CEO, Avendus Capital Alternate Strategies, says “we have been dipping our toes in the power financier space. I think everyone is shifting a little bit away towards this type of financing companies and just away from NBFCs in the short term. There is a lot more to go because it is the renewables sector and it is something important to governments globally and it is going to see a lot of investment. So, the likes of REC will continue to do well and gain market share.” Would you be a buyer of some of these stocks which took it on the chin on Friday – L&T, RBL, some other PSU banks as well? You know it has been interesting. We have kind of been scratching our heads over the past few months about the whole financial sector and particularly the banks with their stellar results. Yes, not great commentary about NIMs, but there was something that was just holding the sector back. And maybe now with what the RBI has done, we know what the concerns were. To my mind, it is kind of fairly well priced, given the underperformance.

global markets, easing US bond yields, and strong domestic institutional inflows suggest that the momentum in domestic equities is likely to continue this week. However, it’s the primary market that’s going to steal the limelight, as IPOs worth Rs 7,300 crore will be up for sale, led by Tata Technologies. Investors will be eagerly waiting for Tata Tech’s IPO, the first one from Tata Group in 20 years, and the fact that demand remains high, is reflected in the price as the stock is trading at a premium in the grey market. Two other major IPOs to look out for are Mini Ratna company Indian Renewable Energy Development Agency, and Fedbank Financial Services. As for the Nifty50, analysts expect the index to remain in a consolidation phase until it decisively breaches the 19,850 mark.

₹ 7,300 crore via initial public offering (IPO). Tata Technologies and Indian Renewable Energy Development Agency (IREDA) are among the biggest among six companies. ‘’In terms of the number of IPOs, India’s share in the global pie has increased sharply.