IPO Financial News

₹288 to ₹304 per equity share of face value of ₹5. Flair Writing IPO date of subscription is scheduled for Wednesday, November 22, and will close on Friday, November 24.

Tata Technologies IPO: The initial public offering (IPO) of Tata Technologies Ltd is ready to hit Indian primary market on 22nd November 2023 and it will remain open for bidding till 24th November 2023. The Tata group company has already declared Tata Technologies IPO price band at ₹475 to ₹500 per equity share. Meanwhile, after announcement of Tata Technologies IPO date and price band, grey market has gone highly bullish on the public issue.

Elon Musk to testify for its investigation into his $44 billion takeover of social media giant Twitter, now known as X. In a document filed in federal court in San Francisco on Thursday, the SEC defended its efforts to compel Musk's testimony, saying agency officials are acting within their authority. Also Read |Elon Musk denies report of Starlink IPO plans, calls it 'false' The SEC last month said it was investigating Musk's 2022 purchases of stock in Twitter -- which Musk subsequently renamed X -- and his statements and SEC filings relating to his takeover of the social media giant.

₹160 to ₹169 per equity share of face value of ₹2. Gandhar Oil IPO date of subscription is scheduled for Wednesday, November 22, and will close on Friday, November 24.

most anticipated initial public offerings (IPOs) of 2023 is finally here. Tata Technologies IPO, a wholly-owned subsidiary of Tata Motors, plans to offer 23.6% of its paid-up share capital currently held by Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund I. It is set to launch its IPO on Wednesday next week, November 22.

₹13,546 crore amid festive season after the stock market ended on a higher note for second day straight.The RBI on Thursday tightened norms for personal loans and credit cards in the form of higher capital requirements. The new norms will make personal loans and credit cards costlier and may curb growth in these categories.Several reports in US on Thursday indicated a slowing economy.

₹133 to ₹140 per equity share of face value of ₹10. Fedbank Financial Services IPO date of subscription is scheduled for Wednesday, November 22, and will close on Friday, November 24.

Tata Consultancy Services Ltd went public in 2004. A successful IPO of Tata Technologies may encourage the conglomerate to take more group companies public, two investment bankers said on the condition of anonymity. Both Tata Sons and Tata Capital were classified by the Reserve Bank of India (RBI) in September 2022 as “upper-layer" NBFCs, which requires them to go public three years from the date of classification.

MUMBAI : Japan’s SoftBank Group Corp. will sell shares worth $154 million ( ₹1,250 crore) in Delhivery in a block deal on Friday, a term sheet for the transaction showed. The investment firm will continue to hold 10-11% in the new-age logistics firm after the sale.

Shares of Chinese e-commerce firm Alibaba Group Holding plunged as much as 10% in New York after it said Thursday it scrapped plans to spin off its cloud business because of uncertainties related to U.S. chip restrictions

SINGAPORE—Washington’s latest curbs on the export of high-performance chips to China are beginning to bite. Alibaba on Thursday said it had scrapped its plan to spin off and list its cloud-computing division, citing the impact of the export controls that took effect late last month. The restrictions “may materially and adversely affect" the cloud business’s ability to offer products and services and to perform under existing contracts, Alibaba said, adding that it would focus on the division’s growth.

VP Nandakumar, MD & CEO, Manappuram Finance, says “along with our gold loan portfolio, we are growing our secured MSME, commercial vehicles portfolios because we have a very large customer base both in Manappuram and the subsidiaries. In these secured segments, our penetration compared to our potential has come to only one-fifth.” Manappuram Finance gold loan AUMs have seen an 8% growth in Q2. You have maintained that you are going to be maintaining the pricing discipline as well. How is this strategy going to fare with regards to growth, given the competition in gold loans now? We expect gold loan AUM to grow around 10% annually and we expect that to grow because the coming quarters are usually better for gold loans. More importantly, we have other secured portfolios. We are growing those portfolios along with our gold loan portfolio like secured MSME, commercial vehicles etc. because we have a very large customer base both in Manappuram and the subsidiaries. In these secured segments like commercial vehicles as well as secured MSME, our penetration compared to our potential has come to only one-fifth. We have that opportunity along with gold. In gold, we expect that in the coming quarters, we will have targeted annual growth of around 10%.

Dikshit Mittal, fund manager of LIC Mutual Fund believes while state elections can create short-term volatility, the outcome of the General Elections 2024 is a key monitorable. In an interview with Mint, Mittal said while interest rates globally seem to be near peak, there is no clear visibility on the timeline for interest rate cuts to begin at least for the next two quarters. Edited excerpts: In the backdrop of global macro headwinds like elevated inflation, higher interest rates, geopolitical tensions, and muted global growth rates, Indian equity markets have witnessed a decent run in the last one year.

Bull vs bear: Indian stock market extended its rally for second straight session on Thursday. In opening bell today, Nifty 50 index opened flat at 19,674 levels and went on to hit intraday high of 19,781 levels, logging 338 points rally in two straight sessions. Sensex today opened at 65,665 and went on to hit intraday high of 66,054 levels, ascending 1,121 points in two days.

The South Korean crypto exchange Bithumb has effectively confirmed reports that it is hoping to launch an initial public offering (IPO), but may be hampered by financial issues and ongoing legal problems.

Elon Musk has denied a report that his rocket company was discussing an initial public offering (IPO) for its satellite internet business, Starlink, as soon as 2024. Musk called the report 'false' on the social media platform X, saying SpaceX had been moving the unit's assets to a wholly owned unit that would ultimately be spun off. Elon Musk's SpaceX will be worth half-a-trillion dollars by 2030: Billionaire investor explains why SpaceX has an estimated value of $150 billion and was the first private company to send humans into orbit.

MUMBAI : Care Health Insurance Pvt. Ltd issued employee stock options (Esops) to Rashmi Saluja, executive chairperson of its parent Religare Enterprises Ltd (REL), despite the insurance regulator specifically rejecting the proposal, proxy advisor InGovern Research Services said. After the rejection, the Care board claimed that insurance regulator’s approval was not really required for granting the options.

Elon Musk dismissed a report that stated SpaceX is discussing spinning off Starlink via an initial public offering as soon as 2024.

SpaceX is discussing an initial public offering for its Starlink satellite business as soon as 2024, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

PARIS (Reuters) -French car maker Renault (EPA:RENA) is holding an investor day for its electric vehicle unit Ampere, which was carved out from Renault's other operations on Nov. 1 and is set for a market listing next year.

(Reuters) — SpaceX is discussing an initial public offering for its Starlink satellite business as soon as 2024, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.