IPO Financial News

One last dance for the IPO market. Regional copper explorer Fuse Minerals’ float was approved by the corporate regulator on Friday, paving the way for an ASX-listing before Christmas.

global market cues including US bond yields, crude oil prices, and performance in US markets. Domestic markets extended their bullish tone for the third successive week and gained over a per cent. The beginning was downbeat but the bias changed in the following sessions with a surge in the US markets.

Stocks to buy: After trading choppy throughout the day, Indian stock market ended lower on Friday. Nifty 50 index lost 33 points and ended at 19,730 levels, BSE Sensex went down 187 points and closed at 65,794 mark while Nifty Bank index corrected 577 points and finished at 43,583 levels. Broad market indices ended minorly in the positive even as the advance decline ratio, though positive at 1.16:1, dipped over the previous day.

The biggest among the five is Tata Technologies Ltd, which plans to raise Rs 3,040 crore through an initial public offering of shares. The second on the list is Mini Ratna company Indian Renewable Energy Development Agency Ltd, and the government is looking at raising Rs 2,150 crore through this public offer. Fedbank Financial Services is the third one that will be launching its Rs 1,092 crore IPO in the coming week.

IREDA IPO: The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) is opening on 21st November 2023 i.e. on Tuesday next week. The public issue worth ₹2,150.21 crore will remain open for subscription till 23rd November 2023.

Buy or sell stocks: After remaining net buyers for two straight sessions, FII turned net sellers again on Friday. FIIs sold out Indian shares worth ₹477 crore on Friday that turned the tide in bears' favour on last session of the week gone by. Nifty 50 index lost 33 points and ended at 19,730 levels, BSE Sensex went down 187 points and closed at 65,794 mark while Nifty Bank index corrected 577 points and finished at 43,583 levels.

Tata Technologies IPO: The initial public offering (IPO) of Tata Technologies Ltd is going to hit Indian primary market on 22nd November 2023 i.e. on Wednesday next week. The Tata group company has fixed Tata Technologies IPO price band at ₹475 to ₹500 per equity share.

Tata Technologies IPO vs IREDA IPO vs Gandhar Oil Refinery IPO: Five mainboard initial public offerings (IPOs) — Tata Technologies IPO, Indian Renewable Energy Development Agency or IREDA IPO, Gandhar Oil Refinery IPO, Flair Writing Industries IPO and Fedbank Financial Services IPO are going to hit Indian primary market next week. These five upcoming IPOs worth ₹7,378 crore would definitely put confusion among investors as to which IPO they should apply as most of these public offers are expected to deliver good listing gain.

Ola Electric has converted itself into a public limited company through a corporate restructuring as the leading electric vehicle maker gears up for its initial public offering. The conversion of a private limited company into a public company is a mandatory step for a firm that wants to list on the stock exchange.

Ola Electric has restructured itself into a public company from a private limited one, regulatory filings showed on Friday. The restructuring of the electric two-wheeler maker comes ahead of an expected public listing. It has also changed its name to Ola Electric Mobility Limited, from Ola Electric Mobility Private Limited earlier.

Tata Investment Corporation rallied over 20% on Friday's trading session, touched to ₹3,909.90 per piece ahead of upcoming initial public offering (IPO) of Tata Technologies. Tata Investment shares opened ₹ 3,270 per share in the early morning trading on Friday, against previous close at ₹ 3,257 . Tata Technologies, which is all set to go public on November 22, is a subsidiary of Tata Motors in which Tata Investment is a promoter group entity.

Multibagger IPO: The initial public offering (IPO) of Quicktouch Technologies Limited is one of the multibagger IPOs that Indian primary market has delivered in 2023. This NSE SME IPO was launched in April 2023 at a fixed price of ₹61 per equity share. Quicktouch Technologies Limited IPO listed on NSE SME Exchange platform on 2nd May 2023 at ₹92 apiece, deliering more than 50 per cent listing premium to the lucky allottees.

BCL Industries shares are one of the multibagger stocks that Indian stock market has produced in recent years. In post-Covid rebound, this FMCG stock has risen from 3.12 apiece levels to near ₹59.40 apiece levels, delivering 1800 per cent return to positional investors in last three and half years. However, it seems that there is still some steam left in this multibagger stock.

Flair Writing Industries has set the price band for its upcoming initial public offering (IPO) at Rs 288-304. The company plans to raise Rs 593 crore through the three-day issue which will open for subscription on November 22, Wednesday. Under the issue, the pen and writing instruments maker will issue fresh equity shares worth up to Rs 292 crore while an offer for sale (OFS) where equity shares worth Rs 301 crore will be offloaded by the existing shareholders. The retail portion has been reserved at 35%, where the investors can subscribe a minimum of one lot or 49 shares and in multiples thereof.

JSW Infrastructure, the ports unit of Sajjan Jindal-led JSW Group, jumped 8.5% to Rs 220 in Friday's trade on BSE after the company emerged as the winning bidder for the development of all-weather, deep-water, greenfield port at Keni in Karnataka on Public Private Partnership basis. «The Karnataka Maritime Board, Government of Karnataka has issued the Letter of Award (LOA) to JSW Infrastructure. As per the RFP document, the estimated cost of the Project is Rs 4,119 crore with an initial capacity of 30 MTPA,» the company said in an exchange filing. Arun Maheshwari, Joint MD and CEO of JSW Infrastructure, said, «Through the development of this greenfield port, we are partnering Karnataka Government’s mission to meet the logistics demand of a rapidly growing State and the region’s economy.

South Korean prosecutors have filed an appeal in the alleged fraud case involving Lee Jeong-hoon, the former chair of local cryptocurrency exchange Bithumb.

JSW Infrastructure, one of India's leading commercial port companies, spiked up nearly 8.5% to hit an all-time high of ₹220 apiece in early trade on Friday after the company received a LoA worth ₹4,119 crore. In an exchange filing on Thursday, the company said it emerged as the winning bidder for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka on a public-private partnership basis.

BSE SME today. On BSE SME, Kalyani Cast Tech share price today listed at ₹264.10, which is 90% higher than the issue price of ₹139. Following a stellar debut the shares were locked in 5% upper circuit.

Indraprastha Gas Ltd(IGL) have seen their stock price dip to 52-week lows in November. Gujarat Gas Ltd facing competition and volume pressure in its industrial segment also has seen its stock price see upside under check. Nevertheless all these companies have reported decent September quarter performances.

Investing.com-- Chinese technology stocks plummeted on Friday, with Alibaba Group (HK:9988) (NYSE:BABA) leading losses after the e-commerce giant shelved a planned IPO for its cloud unit, citing the impact of U.S. curbs on chip exports to China. 

Stock in focus: Indian Railway Catering and Tourism Corporation or IRCTC share price will be under scruitiny of Indian stock market observers and investors during Friday deals as the Indian Railways' PSU stock is trading ex-dividend today. The board of directors of the company has declared ₹2.50 per share interim dividend for the financial year 2023-24. The dividend stock also fixed 17th November 2023 as record date for finalisation of eligible shareholders for interim dividend payment.