IPO Financial News

Also Read: Sebi approves IPOs by FirstMeridian Business, IRM Energy, and Lohia Corp IRM Energy IPO floor price is 48.0 times the face value of the equity shares and the cap price is 50.5 times the face value of the equity shares. The price to earning ratio based on diluted earnings per share (EPS) for fiscal 2023 at the floor price is 22.93 times and at the cap price is 24.13 times.

Multibagger IPO: Investing in initial public offerings (IPOs) is like investing in business. Hence, if an investor is conviced about the business model and sutained returns of the company, then one should hold the stock as long as one can, proided he or she get the share allotted during allotment process. This would not only help the allottee to reap listing gains but further benefit on post-listing gains.

Multibagger stock: Shares of Jagatjit Industries Ltd have been in uptrend since March 2023. The BSE listed stock bottomed out at around ₹90 and went on to hit ₹150 apiece levels during morning deals on Tuesday. It is one of the multibagger stocks that Indian stock market has delivered in last few years.

Virgin Australia’s chief development officer David Marr, the executive tasked with leading the airline’s mooted IPO, has stepped down from the role.

Ex-Think Childcare boss Mat Edwards’ latest IPO, Nido, has sent cheers through Sydney firm Alceon Private Equity’s investors.

An Australian online classifieds marketplace is beefing up its Asian footprint ahead of a potential ASX listing.

Birkenstock Holding Plc, the 249-year-old footwear brand, stumbled onto Wall Street last week in a debut that could quash the fledgling rebound of initial public offerings.

₹86. WomenCart, founded in 2018, is an online retail platform that offers a diverse selection of beauty brands and wellness goods for men and women's skin care, hair care, and body care.

“Though macro parameters such as BEER ratio or M-Cap-to-GDP ratio looks expensive, Indian market is supported by domestic savings getting channelized through MF SIPs, along with corporate profitability which has been steadily improving,” says Rakesh Parekh, MD and Co-Head, Portfolio Management Services, JM Financial Ltd. In an interview with ETMarkets, Parekh said: “We expect domestic facing sectors to outperform relatively in terms of earnings growth led to a large extent by the capital goods sector and Railways” Edited excerpts: Indian market seems to be consolidating after hitting a high in September largely on account of global factors. What is your take? Rising US yields, persisting China slowdown, and elevated crude oil prices amidst geopolitical uncertainties, especially the latest developments in the Middle East are key headwinds facing equity markets in the short term.

HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, ICICI Securities Shares of HDFC Bank, Grasim, Federal Bank, Bank of Maharashtra, and ICICI Securities will be in focus as the companies will announce second quarter results. DMart Avenue Supermarts reported a net profit of Rs 623 crore for the quarter ended September, which was down by over 9% year-on-year. Dalmia Bharat Dalmia Bharat has reported net profit of Rs 124 crore in the second quarter, while revenues stood at Rs 3,149 crore. Read more: Here's the trade setup for today's session Adani Enterprises Adani Enterprises said its two subsidiaries Mumbai International Airport and Navi Mumbai International Airport have received notices by the ministry of corporate affairs relating to initiation of investigation of books of accounts and other books and papers. Persistent Systems Persistent Systems has appointed Ayon Banerjee as the company’s chief strategy and growth officer with effect from October 13, 2023. Tata Motors Ahead of the IPO, parent Tata Motors will sell 9.9% stake in Tata Technologies for about Rs 1,614 crore. TPG Rise Climate will pick up about 9% stake in the transaction, which valued Tata Technologies at Rs 16,300 crore ($2 billion). Tata Steel Long Products Tata Steel Long Products has reported a net loss of Rs 136 crore in the second quarter.

Vivriti Asset Management has completed raising ₹1,700 crore to invest in bonds and loans. The credit asset manager has promised investors returns ranging between 10% to 15%.

Mumbai: Call it a case of role reversal in the startup arena. Founders, who used to be closely vetted by investors, are now using the same magnifying lens to carry out due diligence on the former.

Payments outfit Cuscal has appointed retail brokers, as it progresses plans to raise up to $378.4 million in what’s slated to be the year’s second-largest initial public offering.

Also Read: These 50 smallcap stocks log double-digit rise as Sensex settles marginally higher on volatile week; do you own? "The rebound from the sluggish start, propelled by positive expectations on Q2 earnings and moderation in global bond yield despite concerns over the Middle East conflict continues to hover. The release of higher-than-anticipated US inflation data and resulting increase in treasury yields marginally offset the positive trend by the end of the week,'' said Vinod Nair, Head of Research at Geojit Financial Services. Domestic benchmark equity indices slipped into the negative territory in the previous session despite some intraday recoveries.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the second week of October sees strong market buzz - similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription.

MUMBAI : Tata Motors Ltd sold a 9.9% stake in Tata Technologies Ltd for ₹1,613.7 crore to the Ratan Tata Endowment Foundation and TPG Rise Climate SF Pte. Ltd, a climate investment fund of TPG Global. The transaction, which values the IPO-bound Tata Technologies at around $2 billion, is in line with Tata Motors’ deleveraging strategy, according to a company release.

corporate capex clawing back to 13.5% by 2015-16. This upward trajectory was, however, short-lived, with the investment cycle resuming its downtrend as the corporate GCF-to-GDP ratio fell to 10.7% in 2021-22, which was lower than even the ratio seen in 2008-09. This has been the longest downturn in corporate capex in the last 50 years. Multiple factors have contributed to this protracted decline: Introduction of structural reforms, such as GST, IBC and Rera. Though these reforms were essential to strengthen India’s long-term growth potential, they created some uncertainty in the short run. Covid-19, Russia-Ukraine conflict and unfavourable global macroeconomic environment. Unlike corporate investment, corporate savings have remained stable.

₹47 to ₹50. Investors can bid for a minimum of 3000 shares and in multiples thereof.

₹80 crore IPO fraud case. The ED arrested Nirmal Kotecha, Pavan Kuchana and Kishore Tapadia under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 on October 11.

Also Read: Stocks to buy: Zomato, Nykaa, PB Fintech among JM Financial’s top picks in internet sector ahead of Q2 results Among the infra stocks, Centrum Broking has a Buy rating on G R Infraprojects, HG Infra Engineering, KNR Constructions and PNC Infratech. Centrum Broking builds in 5% and 2% YoY increase in Revenue and PAT for GR Infraprojects on account of weak order inflow in FY23. The order inflow momentum has not picked up yet with only 2 order wins aggregating to ₹1,820 crore, YTDFY24.

₹86. The face value of equity shares is ₹10 each and the issue price is 8.6 times of the face value of the equity shares.