IPO Financial News

Edelweiss Mutual Fund has decided to limit the lumpsum investment (including switch-ins) in Edelweiss Recently Listed IPO Fund. The fund house has decided to limit the subscription to Rs 2 lakh per transaction. This change will be effective from November 6 until further notice. The fund house informed this through a notice-cum-addendum on October 27. The fund house also stated that investments through systematic investment plan (SIP), systematic transfer plan (STP) and other facilities/special products offered will remain unchanged.

Bonus shares, stock split effect: Investing in stocks or public issues is like investing in business. As per majority of the successful stock market investors, one should try and hold one stock as long as one can becuase it helps an investor to get some extra benefit that a listed company announces from its capital reserves. These rewards could be in the form of bonus shares, dividends, buyback of shares, stock split, etc.

₹117 per share, 36% higher than the issue price of ₹86. Following a strong debut, WomanCart share price was locked in 5% upper circuit.

Since the Nifty and the Sensex moved up around 20%, there should be a 10% kind of give up because I do not see it going more than that. Now we are maybe 300-400 points away from that in terms of the Nifty, so that is what should be the worst case. I do not see it going below that, says Sandip Sabharwal, asksandipsabharwal.com Are we just aligning ourselves with the rest of the globe given the outperformance we have had in the past? Yes, reasons for the corrections come later, but the view was that there should be some sort of correction after the euphoric up move, especially in the small and midcap side because when that kind of euphoria comes in and the kind of crazy valuation which IPOs were getting or are still getting, that is not good for the market so that is the phenomenon which is playing out. That said, my view was that since the Nifty and the Sensex moved up around 20%, there should be a 10% kind of give up because I do not see it going more than that.

OFS) of 4.12 crore shares. The IPO was sold at a price band of ₹308- 324.

Honasa Consumer Ltd, which is set to launch its initial public offering (IPO) on October 31, will continue to have its flagship beauty and personal care brand Mamaearth at the core of its growth strategy, cofounder and chief innovation officer Ghazal Alagh said. She said Mamaearth will focus on offline sales to fuel its next phase of growth, while other brands will retain their focus on online sales.

₹3,200 crore through an equity fundraise led by existing investor Temasek and project debt from State Bank of India (SBI) to build a cell manufacturing factory and expand its electric two-wheeler business. Ola Electric has introduced new products in its electric scooter line-up, with the latest S1X starting from ₹89,999 ex-showroom for the 2kWh battery variant. Mint was the first to report on 6 September that Ola Electric Mobility has signed an agreement to raise $140 million from existing investors including Temasek Holdings, at a valuation of $5.4 billion, lower than the $7-8 billion that Ola was seeking.

₹78 to ₹82. Investors can bid for a minimum of 1600 shares and in multiples thereof.

₹308-324 per equity share of face value of ₹10 each. Mamaearth IPO opens for subscription on Tuesday, October 31, and closes on Thursday, November 2.

₹329 to ₹346 per equity share of face value of ₹2. Blue Jet Healthcare 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 2, Blue Jet IPO retail investors portion was subscribed 1.37 times, NII portion was subscribed 2.84 times, and Qualified Institutional Buyers (QIB) portion were booked just by 9%.

The initial public offer (IPO) of Blue Jet Healthcare was fully subscribed on the second day of the bidding process, led by NII and retail categories. The NII portion was subscribed the most at 2.1 times, followed by retail investors at 1.13 times. The QIB part was booked just 1% so far.

Mamaearth IPO: Price band of the initial public offering of Mamaearth parent Honasa Consumer has been declared at ₹308 to ₹324 per equity share. Whether investors would make money out of this public issue or not, will be known after listing of share only. The public issue is set to hit primary market on 31st October 2023.

On day 1, Blue Jet Healthcare IPO was subscribed 69%, where the retail investors portion was subscribed 78%, NII portion was subscribed 1.37 times, and Qualified Institutional Buyers (QIB) portion was booked 1%. Blue Jet Healthcare IPO price band has been fixed in the range of ₹329 to ₹346 per equity share of face value of ₹2. Blue Jet Healthcare 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.

Multibagger IPO: The initial public offering of Cellecor Gadgets Limited was launched in September 2023 at a price band of ₹87 to ₹92 per equity share. Bidding for the IPO was open from 15th September 2023 to 20th september 2023. The public issue was proposed for listing on NSE SME Emerge platform.

Cuscal is expected to fix pricing for its IPO next week, after the payments group’s executives and advisers zipped around the world to sell investors on the company and the coming “infrastructure-like” opportunity.

₹477.25 per share, 5.49% lower than the issue price of ₹505, and on the BSE, IRM Energy share price was listed at ₹479 per share. IRM Energy IPO opened for subscription on Wednesday, October 18, and closed on Friday, October 20.

Ravi Dharamshi, CIO, ValueQuest Investment Advisors, says “in the older portfolios, we are sitting on probably 10-15% kind of cash. In the newer portfolios, we are sitting on almost 60-70% kind of cash. So again, this just coincides with the market's overall kind of exuberance level. So we will probably end up deploying when the market corrects itself or if the outlook changes.” Traditional investors always shied away from investing in the IPO market, but you have not done that. You bought into recent IPOs and this is public information. In Zaggle, the bulk deal data did indicate that you bought into it. You have bought into Kaynes, another stock. How come now you are saying do not buy, invest in IPOs? I have learned from Rakesh Jhunjhunwala that there is one rule in the market and that is there are no exceptions in this market. You have to understand in an early IPO cycle, there are some companies that come to the market which provide you that opportunity. The IPO market had dried up for almost two years. This was the first lot of the companies that are coming to the market. Yes, we understand the acronym, it is probably overpriced. No doubt about it.

The IPO includes fresh issuance of shares worth up to Rs 365 crore and an offer for sale (OFS) of about 4.12 crore shares. Honasa promoter Varun Alagh will sell 3,186,300 shares while his wife Ghazal Alagh will sell up to 100,000 shares in IPO. Other shareholders who would be selling stake in the OFS include Kunal Bahl, Shilpa Shetty Kundra, Rishabh Harsh Mariwala, Fireside Ventures Fund, Sofina, Stellaris and Rohit Kumar Bansal. The bid lot size has been fixed at 46 shares per lot, which implies that the minimum bid lot amount in the retail category would be Rs 14,904. About 10% of the issue size has been reserved for retail investors, 15% has been allocated to the HNIs while the remaining 75% is reserved for qualified institutional buyers (QIB). Honasa employees will get a discount of Rs 30 per share as well as a reservation of equity shares worth up to Rs 10 crore. The stock will get listed on both NSE and BSE on November 10 while the finalisation of the basis of allotment is likely to be done by November 7. Book-running lead managers for the IPO include Kotak Mahindra Capital, Citigroup, JM Financial and JP Morgan. Net proceeds from the IPO would be spent on advertisement expenses towards enhancing the awareness and visibility of brands, capital expenditure for setting up new EBOs, to set up new salons under its subsidiary Bhabani Blunt Hairdressing, general corporate purposes and unidentified inorganic acquisition.

Axis Bank: Axis Bank Ltd on Wednesday reported a net profit of ₹5,863 crore in the second quarter of FY24 registering a 10% growth from ₹5,329.8 crore in the corresponding quarter of last year. NII during Q2FY24 rose 18.9% to ₹12,314.56 crore from ₹10,360.26 crore YoY. NIM for Q2FY24 was 4.11%, up 1 basis point QOQ and 15 basis points YOY, according to Axis Bank's filing exchange.

IRM Energy IPO: Listing date of initial public offering (IPO) of IRM Energy Limited has been fixed on 26th October 2023 i.e. today. As per the information available on BSE website, "...effective from Thursday, October 26, 2023, the equity shares of IRM Energy Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." IRM Energy shares will list in special pre-open session on NSE and BSE and IRM Energy share price will become available for trade from 10:00 AM during Thursday deals.

Rich Listers and Chemist Warehouse founders Jack Gance and Mario Verrocchi have shared a $365 million dividend from Australia’s no.1 pharmacy chain, despite profit at the privately owned business falling more than 20 per cent.