IPO Financial News

Ampere, Renault’s electric-vehicle and software company preparing for a public listing, said it is targeting revenue of more than 10 billion euros ($10.88 billion) in 2025 while it readies to compete with less expensive cars from China and Tesla. The French car maker, which was officially carved out form its parent company on Nov. 1, said on Wednesday that it is aiming to sell around 300,000 vehicles that year.

₹20,000 crore fund to small investors in Sahara group companies who were duped with promises of surreal returns through various dubious schemes. He was sent to judicial custody in Tihar Jail and was released on parole in 2017. Since then, his health had been deteriorating.

By Gilles Guillaume and Silvia Aloisi

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ASK Automotive shares should do it from a medium-to-long-term perspective, a couple of analysts recommended. The stock made a modest debut on the exchanges at a premium of nearly 8% today.

Shyam Metalics and Energy (SMEL), a leading integrated metal producer with an unchanged target price of ₹690 apiece, indicating an upside of 45%. Despite the company's Q2FY24 EBITDA falling short of its estimates, the brokerage expects a ramp-up of DRI-IF route capacity, the recent uptick in prices, and the commencement of stainless-steel capacity at Mittal Corp to aid the company's EBITDA in H2FY24. The brokerage highlighted that the company has a net debt/EBITDA of 0.74x, the best among peers.

Integrated Portfolio Solutions, a 14-year-old investment administration platform used by financial advisers and high-net-worth investors, is ready for a new owner.

Stock market today: Shares of ASK Automotive Limited listed on BSE and NSE in special pre-open session at around 7.5 per cent premium during Wednesday deals. However, the auto stock didn't end after positive listing. ASK Automotive share price went up further and went on to hit intraday high of ₹311.75 per share on BSE and ₹312 apiece on NSE respectively.

Sriram Velayudhan, Vice-President, IIFL Securities, says the Standard Index will see nine additions, the highest of them in terms of impact being Tata Motors DVR, which we are expecting in close to the tune of $145-$150 million which is a big ADV of almost 13 days, followed by Macrotech and APL Apollo. These are high inflow additions in terms of ADV to the tune of 10 to 11 days. No stocks have been deleted from the Standard Index and a lot of interesting names have been added. What is your view? MSCI made the announcement relating to the November review early Wednesday morning India Standard Time. As you rightly pointed out. So, there are not any deletions for the forthcoming review. This purely works on the basis of the methodology that MSCI has put out. We are not seeing any deletions in this review. In terms of addition, the Standard Index will see nine additions, the highest of them in terms of impact being Tata Motors DVR, which we are expecting in close to the tune of $145-$150 million which is a big ADV of almost 13 days, followed by Macrotech and APL Apollo. These again are high inflow additions in terms of ADV to the tune of almost 10 to 11 days. The other closely followed addition is IndusInd Bank wherein we have been following the foreign room for the last couple of quarters.

ASK Automotive listed at a premium of 8% on the exchanges on Wednesday. The stock debuted at Rs Rs 304.9 on BSE, up 8.1% over the IPO price of Rs 282.

Investment bankers and equities sales and trading teams are likely to be hit the hardest during Wall Street’s next round of bonus payments.

ASK Automotive IPO: Listing date of the initial public offering (IPO) of ASK Automotive Limited has been fixed on 15th November 2023 i.e. today. As per the information available on official website of BSE, "....

CIE Automotive India: Buy at ₹485.20, target ₹525, stop loss ₹470;2] HBL Power: Buy at ₹324.85, target ₹350, stop loss ₹315; and3] BEL: Buy at ₹143.40, target ₹155, stop loss ₹137. (Read More)Mohit Burman, Member, Burman Family and Chairman, Dabur India, is unfazed by the Religare Enterprises Ltd board's resistance to his family's open offer, after initially welcoming it. He says that acquiring Religare will add a crucial piece to the Burman family's growing bouquet of financial products and that the company needs a promoter to re-enter the lending business.In a lengthy interview conducted over two days, Burman stopped short of commending Religare chairperson Rashmi Saluja for the company's recovery while giving "full marks" to the management team for the turnaround.

IndusInd/Suzlon/Paytm/Persistent Systems: MSCI is set to adjust its MSCI Standard Index, drawing attention from analysts who are closely monitoring potential inclusions such as IndusInd Bank, Suzlon Energy, Persistent Systems, and One97 Communications. Nuvama Alternative & Quantitative Research predicts significant inflows into these stocks, estimating $290 million for IndusInd Bank, $264 million for Suzlon Energy, $258 million for Persistent Systems, and $163 million for One97 Communications, the parent company of Paytm.

Buy or sell stocks for today: Witnessing sell off in late hours, Indian stock market ended close to its intraday low on Monday. Nifty 50 index finished 82 points lower at 19,443 levels, BSE Sensex gained 325 points and closed at 64,933 mark whereas Bank Nifty index added 105 points and ended at 43,891 levels. Volumes on the NSE were at the lower end of the range.

Tata Consultancy Services to the very top of the valuation leader-board at the country's most-valued conglomerate, which has a market capitalisation of about ₹25 lakh crore. Other details, including pricing of the nearly 61-million share issue at the Tata Motors-owned unit, will be announced closer to the IPO date. Tata Motors said Monday its engineering services subsidiary has filed its Red Herring Prospectus with the Registrar of Companies in Pune. This IPO will entirely be an Offer for Sale (OFS) by existing shareholders, with Tata Motors intending to sell up to 46.2 million shares in the IPO, representing 11.4% of Tata Technologies' equity. Alpha TC Holdings will offload 9.7 million shares, or 2.4% of the company's equity, and Tata Capital Growth Fund 1 will sell 4.9 million shares, representing 1.2% of its equity.

₹17.1 crore, as per the consolidated financial results declared by the travel services provider on November 14. In the corresponding period of the previous fiscal year, the company had reported a net loss of ₹1.56 crore. Whereas, in the preceding quarter ended June 2023, Yatra had logged a net profit of ₹5.9 crore.

Mint. The online-offline retailer, which has over 180 stores in the country, is also reviewing plans for a market listing after choppy markets have prompted the company to postpone IPO plans, Shah said. Edited excerpts.

₹300 and ₹310 from the issue price of ₹282. The number of IPOs appears to have increased, and investors' returns appear to be declining.

list of funds that bought the stock as anchor investors, you will find in that list a large cap fund, a small cap fund, and a mid-cap. And this is over and above categories like multicap, special situations, retirement savings among others! It appears that mutual fund mandates are just “fine print" and not really something that stands for anything.

general elections are scheduled. Companies look to complete their IPOs, obtain Securities and Exchange Board of India (SEBI) clearances, and initiate their offerings by the latest in February or March, even though this is still a few months away.