IPO Financial News

₹490 crore from the capital markets, which is a complete offer for sale (OFS). Also Read: Protean eGov Technologies IPO: Issue fully booked on Day 1; retail, NII portions oversubscribed On the second day (November 07), the robust demand from the retail segment continued, with the subscription rate reaching 3.91 times. The non-institutional investors (NIIs) also showed strong interest, as the subscription in the segment reached 6.25 times.

₹268 to ₹282 per equity share of face value of ₹2. ASK Automotive IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. On day 1, Ask Automotive IPO retail investors portion was subscribed 56%, NII portion was subscribed 41%, and Qualified Institutional Buyers (QIB) portion was booked 3%.

₹57 to ₹60 per equity share of face value of ₹10. ESAF Small Finance Bank lot size is 250 equity shares and in multiples of 250 equity shares thereafter.

RR Kabel hit their record high in intra-day deals on Tuesday after the company's net profit more than doubled in the September quarter of FY24 (Q2FY24). The stock rallied as much as 10.4 percent to its all-time high of ₹1,550.00 in intra-day deals on Tuesday. The RR Kabel stock was listed on the exchanges on September 20 at ₹1,180, a 14 percent premium over the issue price of ₹1,035.

On day 1, Protean eGov Technologies IPO subscription status was 1.80 times. Protean eGov Technologies IPO price band has been fixed in the range of ₹752 to ₹792 per equity share of face value of ₹10.

Protean eGov Technologies, ESAF Small Finance Bank and ASK Automotive are currently open for public subscription. Here's a brief look at subscription status and other details. ESAF Small Finance Bank The public offer of ESAF Small Finance Bank (SFB) was booked nearly 19x on the third day of the bidding process.

ASK Automotive IPO raised over ₹250 crore from anchor investors on Monday, November 6, where 25 investors participated in the anchor book, and five mutual funds applied through six schemes. ASK Automotive IPO consists of a total offer size of up to 29,571,390 equity shares with a face value of ₹2 each where Kuldip Singh Rathee will offload up to 20,699,973 equity shares and Vijay Rathee (promoter selling stockholders) up to 8,871,417 equity shares.

Stock market today: After flat listing on BSE and NSE, Mamaearth's parent Honasa Consumer share price further went down and touched intraday low of ₹322 apiece on BSE. According to stock market experts, Mamaearth IPO witnessed 'motivated investment' in second half of the last day of subacription. Hence, there can be sharp downside if no big investment comes into the stock after listing.

Honasa Consumer, the parent entity of Mamaearth brand, listed on bourses on Tuesday, with a premium of 2% over the issue price. The stock got listed at Rs 330 on NSE as against the IPO price of Rs 324. Meanwhile, on BSE, it debuted at Rs 324. The IPO closed on Thursday, with it getting bids for 7.61 times the shares on offer.

Q2 Result: Shree Cement likely benefitted from the strong demand during the July-September quarter, as has been the case with its peers. The cement demand from the infrastructure sector remained strong and with monsoon activity remaining weaker than expected, the construction activities overall did not see much slowdown as has been the case historically in the monsoon impacted September quarter. The company will release its quarterly earnings today.

bankruptcy filing broke. The stock has tanked 99.8 percent since its initial public offering (IPO). On November 1, the Wall Street Journal reported that WeWork plans to file its Chapter 11 petition for bankruptcy in New Jersey.

Dalal Street, Mish Designs shares listed on the BSE SME exchange today at ₹160 per share levels, which is 31 per cent higher from the issue price. The BSE SME issue was offereed at a fixed price of ₹122 apiece. After listing at ₹160 per share levels, Mish Designs share price further went upside and hit intraday high of ₹165 per share within few minutes of stock listing.

On day 2, ESAF Small Finance Bank IPO has been subscribed 8.32 times, and ESAF IPO was subscribed 1.74 times on day 1. ESAF Small Finance Bank IPO price band has been fixed in the range of ₹57 to ₹60 per equity share of face value of ₹10.

semiconductor industry has been in the limelight in recent years due to its soaring demand and the persistent global shortage of chips, making it a favoured investment sector for investors looking for high growth. Adding to this excitement, Qualcomm Inc., a global semiconductor giant, has announced plans to outsource the manufacturing of semiconductor chips in India. The company aims to capitalise on its substantial scale and the need for high chip volumes by collaborating with key industry players to introduce state-of-the-art technology in the country.

₹330 on the BSE on Tuesday, a premium of 1.85% to the issue price of ₹324. The company's ₹1,701-crore IPO, which concluded on 2 November, was subscribed 7.61 times over, indicating strong investor demand, but initial public offerings (IPOs) in India have seen mixed performances since last Diwali. Companies such as Ideaforge Tech, Netweb Technology, Utkarsh Small Finance Bank, Cyient DLM, SBFC Finance, Cello World, and Mankind Pharma, recorded strong listing gains ranging from 20% to 93%.

Shein is touting its hopes for a valuation of as much as $90 billion as it lays the groundwork for an eventual US initial public offering, a level that far exceeds how the fast-fashion giant is valued in private trades, according to people familiar with the matter. The company has told prospective investors that it’s aiming to fetch a valuation of $80 billion to $90 billion in a listing, the people said. The timing of the share sale remains uncertain given the market volatility, according to the people. In private trades, Shein’s valuation has dropped below the $66 billion it got in a funding round in May, the people said.

primary market has been one of the shining lights in the investment arena this year with a bumper rush of public offers and healthy listing gains. Six IPOs have turned multibaggers in Samvat 2079 with the highest return of over 300% by Kaynes Technology. The other offers which have delivered over 100% returns till date include Plaza Wires, Cyient DL, Global Health, Senco Gold and Utkarsh Small Finance Bank. While Plaza Wires is up about 163% from its offer price, Cyient DLM and Global Health are each trading 140% higher. Other notable mentions are the ideaForge and Netweb Technologies IPOs, whose shares doubled investors wealth on listing day.

Devang Mehta, Director-Equity Advisory, Spark Private Wealth, says: “Most of this high-end discretionary luxury demand for cars, real estate, as well as capex, is bound to come in and most of these industries will do very well. So on the sector front, auto, auto components, a lot of building material/home improvement/capital good type of businesses is what we recommend to our clients in building the portfolios.” Why don’t you start by giving us one of your top Diwali recommendations given the fact that there are cheers all around with Nifty hitting that 19,400 mark. I would not be able to recommend any single specific idea but yes, as a theme, we clearly like something in the auto and auto component universe. We know that it is a part of discretionary consumption and India Inc., has been seeing sales of passenger cars over the last complete festive weekends, may it be Navratri or the start of Diwali season.

Honasa Consumer: Analysts predict that the stock of Honasa Consumer, the parent company of Mamaearth, is likely to debut with a flat to marginally positive listing on November 7. Mamaearth's recent IPO faced significant market challenges, although it was well-received by qualified institutional bidders (QIB), who oversubscribed the offering by 11.5 times. In contrast, retail investors demonstrated caution, subscribing only 1.4 times the allotted quota.

Honasa Consumer IPO: Listing date of Mamaearth's parent Honasa Consumer Limited on Indian exchanges has been fixed on 7th November 2023 i.e. today.

ASK Automotive on Monday said it has mobilised a little over Rs 250 crore from anchor investors ahead of its initial share sale which opens for public subscription on Tuesday. The company has allotted 88.71 lakh equity shares to 25 funds at Rs 282 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. At the price, the company has garnered Rs 250.17 crore from anchor investors.