IPO Financial News

₹1,701 crore, which comprises fresh issue of shares worth ₹365 crore and offer for sale of 4.12 crore shares by promoters and investors.The IPO will see the sale of 3,186,300 shares by Honasa promoter Varun Alagh and up to 100,000 shares by his wife Ghazal Alagh. Mamaearth IPO has been subscribed 70% on day 2.

Scheduled to be held on November 3, 2023, this summit promises to be a dedicated platform fostering innovation and growth within India's tech-startup landscape. With its overarching theme of «Resilience.

Hero Motocorp Chairman Pawan Munjal received approval for his proposed 20% reduction in his salary. Earlier, he had volunteered for a salary cut after the separation of roles of Chairman and CEO of the company. Also Read: Hero Motocorp Q2 results: Net profit jumps 47% to ₹1,054 crore; revenue up 4% The Board of Directors of the Company, on Wednesday, announced the quarterly earnings of the company for the September quarter.

ESAF Small Finance Bank will open for subscription on November 3. The issue closes on November 7.

Varun Alagh and Ghazal Alagh are also selling 32.86 lakh shares of the 10.67 crore shares they hold in the Gurgaon-based company. With a price band of Rs 308-324 per share fixed for the issue, the founders will together raise between Rs 101.22 crore and Rs 106.47 crore through this sale.

₹1,701-crore worth Mamaearth IPO opened for public subscription on Tuesday, October 31, and will close on Thursday, November 2. The beauty and personal care company filed the red herring prospectus (RHP) on October 23, 2023, for the IPO which includes a combination of fresh issue of equity shares and an offer-for-sale (OFS) portion. Let us take a look at some of the key things mentioned in the Mamaearth IPO RHP.

JM Financial has initiated coverage on the wire and cable manufacturer RR Kabel with a ‘buy’ call. The brokerage is bullish on the stock on the back of its industry-leading revenue growth track record, strong outlook, industry tailwinds, and healthy performance. It has a target price of ₹1,650 for the stock, implying an upside of over 21 percent in 12 months.

₹1,701 crore initial public offering of Honasa Consumer Limited, popularly known as Mamaearth, opened on October 31. As per the RHP, Shilpa Shetty Kundra has invested ₹6.7 crore in the company, acquiring over 16 lakh shares at ₹41.86 apiece. The actor will be selling 13.93 lakh shares in the offer for sale (OFS) portion of the IPO.

Blue Jet Healthcare share price was listed at ₹380 on the NSE (National Stock Exchange) almost 10% higher than the issue price of ₹346 on Wednesday. On the BSE (Bombay Stock Exchange) Blue Jet Healthcare share price was listed at Rs359.90 per share and touched highs of ₹395.85, during intraday trades. Investor confidence had remained strong on the company as was visible from IPO subscription level as was subscribed 7.95 times, which as per analysts is a good subscription level.

₹380 per share, 9.8% higher than the issue price of ₹346, and on the BSE, Blue Jet share price was listed at ₹359.90. Blue Jet Healthcare IPO opened on Wednesday, October 25, for subscription and closed on Friday, October 27.

Protean eGov Technologies IPO, formerly known as NSDL E-Governance Infrastructure has set the price band for its issue at ₹752-792 per share to raise ₹490.3 crore. The company is set to launch its three-day initial public offer on November 6 and close on November 8. Meanwhile, the anchor investors bidding for the IPO will start on 3 November.

₹365 crore. The IPO will see the sale of 3,186,300 shares by Honasa promoter Varun Alagh and up to 100,000 shares by his wife Ghazal Alagh.

Waystar, which was set to launch its initial public offering (IPO) roadshow to pitch investors this week, has now delayed it until at least December, the Wall Street Journal reported on Tuesday. Reuters reported in August that Louisville, Kentucky-based Waystar was eyeing an IPO that could value the company at as much as $8 billion, including debt. The company will likely wait until 2024, the Journal's report added, citing people familiar with the matter. Waystar did not immediately comment on the report. Waystar, which provides software that helps hospitals and clinics manage their finances, has said it intends to list its common stock on the Nasdaq under the symbol «WAY». The company was formed in 2017 through the merger of Navicure and ZirMed. The company develops payment software helping clients such as large hospital systems with the collection of bills from patients. Waystar made its IPO filing public in October after confidentially filing it in August, joining a wave of new listings that followed a months-long dry spell wrought by high interest rates and fears of a recession. Still, hopes of the new listings — including those of chip designer Arm, and grocery delivery app Instacart — buoying the IPO market were dashed after the stocks fell below their IPO price soon after debut. Earlier this month, Birkenstock's shares ended more than 12% below its IPO price in an underwhelming Wall Street debut that signaled investors remain cautious about new listings. Waystar was valued at $2.7 billion when EQT and CPPIB acquired a majority stake in the company in 2019 from Bain Capital, which stayed on as a minority investor.

L&T: Larsen & Toubro reported a net profit of ₹3,222 crore in the September 2023 quarter, higher by 45% as against ₹2,229 crore reported in the year-ago period, as per the results declared by the company on October 31. The company's revenue from operations during Q2FY24 came in ₹51,024 crore, marking a jump of 19% from ₹42,762 crore reported in the corresponding quarter of the previous fiscal. Bharti Airtel: Telecom major Bharti Airtel recorded a net profit of ₹1,341 crore in the second quarter of fiscal year 2023-24 (Q2FY24), which is 37% lower than the year ago.

BSE notice, “effective from Wednesday, November 1, 2023, the equity shares of Blue Jet Healthcare Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." Blue Jet Healthcare shares will list on BSE and NSE in a special pre-open session during Wednesday deals at around 9:45 am whereas Blue Jet Healthcare shares will become available for trade at 10:00 AM. Blue Jet IPO received decent response from investors across all categories.

post-listing experience of public market investors from some of the earlier initial public offerings of new-age companies is unlikely to have an impact on the offering of Mamaearth parent Honasa Consumer, its cofounder and chief executive said. “The numbers should showcase in the next few days. We feel like it’s going in the right direction,” Varun Alagh told ET in an interview. “The retail portion has been subscribed 35% on day 1. For whatever reason, some people would have tasted bad blood but there have been multiple IPOs where there were 70-80% listing gains,” he added.

Blue Jet Healthcare IPO is finalised on Tuesday. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

Transport Corporation of India reported a 20% rise in its consolidated net profit to ₹87.8 crore in the September quarter of FY24. The company earned a profit of ₹73 crore in the September quarter of the previous financial year. Its consolidated revenue jumped by 7 percent at ₹1,005 crore, the company said in an exchange filing.

wealth management companies — many of which had their origins as boutique city-based firms — are expanding to tier-2 and -3 cities, as wealth in these places has ballooned in the past two-three years, opening new markets for them. This is leading to a surge in demand for wealth managers, or private bankers, triggering a talent war and an all-time high churn at the top deck, said senior company executives. Emergence of new millionaires in towns such as Morbi, Vapi, Panipat, Ludhiana, Tiruppur, Raipur, Dehradun, Jamshedpur and Rajkot — among several other tier-2 and tier-3 locations — is prompting outfits such as Motilal Oswal Private Wealth, 360 ONE Wealth & Asset Management (formerly IIFL Wealth) and WhiteOak Capital AMC to open offices there and ramp up their teams, as they cater to clients worth Rs 2 crore to over Rs 1,000 crore, said the executives. “Wealth creation is no longer the forte of the top cities, neither is it confined to the coffers of the ultra-rich,” said Prateek Pant, chief business officer, WhiteOak Capital, which has set up offices in 50 new micro markets like Guwahati, Amritsar, Jalandhar and Trichy in the last one year.

₹122. Investors can bid for a minimum of 1000 shares and in multiples thereof.

Honasa Consumer, which owns new-age FMCG brands like Mamaearth and The Derma Co, got subscribed 12% on the first day of subscription on Tuesday. The IPO received bids for 36,07,182 shares against 2,88,99,514 shares on offer, according to NSE data. The portion for Retail Individual Investors (RIIs) was subscribed 34% while the quota for Qualified Institutional Buyers (QIBs) received 10% subscription. The category for non-institutional investors got subscribed 3%.