IPO Financial News

Fast food chain Guzman y Gomez will have two chief executives running the company as it prepares for an initial public offering which founder Steven Marks says could happen late next year.

Mumbai: Until March, the market for initial share sales in India had been moribund this year and badly in need of stimulus to come back to life. It took a condom maker to revive the sagging market for initial public offerings (IPOs). Mankind Pharma Ltd, the New Delhi-based maker of the Manforce brand of male contraceptives, raised ₹4,326 crore in a blockbuster IPO in April, almost seven times the entire amount raised by three companies that went public in the first three months.

₹18,400 crore. The amount was four times more than the amount of fund raised in the same duration a year-ago. In the first-half of current financial year, 20 companies collected ₹18,443 crore through QIPs.

₹38,000 crore with their listing. Other than this, extra 41 companies are awaiting SEBi's approval to launch initial public offerings worth ₹44,000 crore, reported PTI citing a report. Fund raising through initial public offerings or IPOs fell 26 per cent to ₹26,300 crore in the first half of the current fiscal, despite the number of issues more than doubling to 31, from 14 issues with the total mop-up of ₹35,456 crore in the year-ago period, according to Primedatabase.

Joyalukkas India Pvt Ltd plans to invest about Rs 2,400 crore in the next two financial years to open 30 new showrooms in India and ten outlets abroad, according to Chairman and Managing Director Joy Alukkas. The company is also preparing for an IPO (initial public offering) for further expansion of its business, he said. Currently, Joyalukkas has 100 showrooms in India and 60 outlets in ten countries.

Tata Consultancy Services. In the week gone by too, volatility saw benchmark indices swing between gains and losses, but eventually ended flat. The Nifty 50 settled at 19,653 points and Sensex at 65,995 points.

Also Read: India's bond yield posts biggest single-day jump in 17 months; What's fuelling the rise? On Friday, October 6, Nifty 50 closed at 19,653.50, up 108 points, or 0.55 per cent while Sensex closed 364 points, or 0.55 per cent, higher at 65,995.63. The BSE Midcap index rose 0.66 per cent while the smallcap index ended 0.56 per cent higher. Global cues were also positive after a pause in a bond market sell-off.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month and in October's first week, which kept investors engaged with subscriptions and listings. Moving on, the second week of October sees strong market buzz - as new initial public offering (IPO) issues are closing and a bunch of companies are set to make their debut on D-Street. During the period September 30 – October 6, two mainboard IPOs Valiant Laboratories and Plaza Wires opened for listing raising an amount of ₹223.74 crore, according to market observers.

Plaza Wires IPO: Bidding for initial public offering (IPO) of Plaza Wires Ltd ended on 5th October 2023. After change of IPO listing rule by SEBI, the public issue is expected to list on Indian exchanges on 10th October 2023 (T+3 rule) i.e.

Arvind And Company Shipping IPO: The initial public ofering (IPO) of Arvind and Company Shipping Agency Limited is going to hit primary market on 12th October 2023 i.e. on Thursday next week.

There may be some relief in sight for Canada’s beleaguered initial public offering market: BlackBerry Ltd.’s spinoff its Internet of Things business.

Goyal Salt IPO allotment date: Goyal Salt IPO's share allotment has been finalised today (Friday, October 6). The investors who applied for the issue can check the Oneclick Logistics IPO allotment status in the registrar's portal, which is Bigshare Services Pvt Ltd.

Oneclick Logistics IPO allotment date: Oneclick Logistics IPO's share allotment has been finalised today (Friday, October 6). The investors who applied for the issue can check the Oneclick Logistics IPO allotment status in the registrar's portal, which is Bigshare Services Pvt Ltd.

₹22.04 crore. The public issue remained open from September 26 to October 3 and as per the latest update, Sunita Tools IPO allotment has been finalised today, October 6. Sunita Tools IPO is an SME IPO and a fixed price issue.

Also Read: India's bond yield posts biggest single-day jump in 17 months; What's fuelling the rise? “Pursuant to Regulation 29(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on October 11, 2023," TCS said in its BSE filing on Friday. Also Read: Sunita Tools IPO allotment finalised; here’s how to check IPO allotment status The buyback comes at a time Indian IT services companies are grappling with an uncertain demand environment, especially in the U.S., a key market for the sector.

₹77. The face value of the equity shares is ₹10 apiece and the issue price is 7.7 times of the face value.

Valiant Laboratories had a decent listing at the bourses on Friday with a premium of around 21% over the issue price. The IPO was priced at Rs 140 at the upper end. The strong listing can be attributed to the company’s improving financial performance in the recent past, wherein revenues grew at a CAGR of 35% during the FY21-23 period. «Further, the paracetamol API industry is expected to clock a 5-7% CAGR between FY23 and FY27,» said analysts, while suggesting investors can hold the stock for the long term if they wish to. «With strong operational efficiencies, Valiant Laboratories has demonstrated high ROCE, positive operating cash flows, strong balance sheet, pursued growth opportunities and better managed unanticipated cash flow variations which will drive the company's performance going forward,» said Prathamesh Masdekar, Research Analyst, StoxBox. «We, therefore, remain optimistic on the company and recommend investors who have received allotment to hold their shares and consider buying on dips as well from a medium to long term perspective,» Masdekar added. The IPO was well-received by investors with a subscription rate of 29.76 times. Net proceeds from the issue will be utilised towards part-financing its capex, funding working capital requirements and other general corporate purposes. Valiant Labs is an active pharmaceutical ingredient (API/bulk drug manufacturing company, with a focus on producing Paracetamol.

By Emma-Victoria Farr and Pablo Mayo Cerqueiro

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “we are back to being neutral to overweight on cement, so that is one big change in stance. The second stance is that we were heavily underweight in pharma; we moved that to neutral because we see a lot of selective stocks that we can buy there. The third is in terms of the new-age IPOs. We are buying into these IPOs a few months after listing because the IPOs tend to have the prices jacked up a bit. Markets, a bit of a yes and no here. Bond yields are going higher. FIIs are selling. The logic is that if yields are going higher, FIIs will sell more and that will weigh down Indian markets. Is there logic in assuming that? No, some amount but I would say that it is more about the trend in future yields rather than the absolute level of the yields.

₹162.15 per share, 15.8% higher than the issue price of ₹140, and on the BSE, Valiant Laboratories share price was listed at ₹161 per share. Also Read: Valiant Laboratories IPO listing date today.

“Over the medium and long term is indeed constructive and India is at the cusp of a multi-year growth cycle led by capex, credit growth, consumption & corporate profitability,” says Devang Mehta, Director – Equity Advisory, Spark Capital Private Wealth Management. In an interview with ETMarkets, Mehta said: “We like themes & sectors related to Credit growth, financials and Capital expenditure as well as Consumption could lead next leg of rally on D-St,” Edited excerpts: Nifty hit 20200 levels and then we saw some bit of healthy profit-taking amid muted global cues. What is your take on markets for the medium to long term? A bit of shake-out, when money-making becomes extremely easy, is a usual phenomenon in the markets. That said, such ebbs & corrections always act as cautionary notes and bring gravity to the proceedings.