IPO Financial News

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

Of the five IPOs in Q3 2023, two listed on the main market, raising £346.5m in total, while the Alternative Investment Market had three admissions raising £13.3m.

The NII category was also not too behind with 88.3 times subscription. The QIB part was the least booked at 60%.

₹600 crore through an IPO done in Q3 of fiscal 2023. (Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Fusion MicroFinance is up 57% from its listing price to ₹585 a share, taking its market cap to ₹5,915 crore.

«We think that the capex cycle is surely looking good and typically in an election year, these companies and these sectors tend to do very well so one should have a positive bias on this space,» says Hemang Jani, Independent Market Expert. Curious to get in your thoughts. What is the outlook on the capital goods space, the likes of a Siemens etc? I think within the capital goods space, what stands out for us is L&T because of the recent business updates and the fact that this open offer which got concluded, the floating stock from the retail side has reduced considerably and different business verticals are showing good traction. So L&T would be the number one pick and apart from that, I think the sector may go through a little bit of correction and depending on how the quarterly numbers pan out for companies like Siemens, ABB and whole host of midcap companies, one should be able to kind of take a call based on the inputs.

Stock market today: Updater Services IPO today listed on Indian bourses at 5 per cent discount. Updater Services share price opened on NSE at ₹285 per equity share but it witnessed sharp upside after discounted listing and hit intraday high of ₹298.65 apiece, paring almost losses of the allottees that they incurred after listing.

₹51 to ₹54 per equity share for the proposed initial public offer. "Exciting news! Mint is now on WhatsApp Channels

Tata Motors as on the date of the filing of the Red Herring Prospectus with the Registrar of Companies (RoC), will be considered eligible for the initial public offering (IPO), Tata Technologies said in an addendum to its draft red herring prospectus (DRHP) filed with Sebi. The company has capped the maximum bid amount under Tata Motors shareholders' reservation portion at Rs 200,000. The issue, which is an offer for sale (OFS) will see the promoter company and two investors offloading a combined 95,708,984 equity shares. Tata Motors will offer up to 81,133,706 equity shares which is 20% of the pre-offer paid-up equity share capital of Tata Technologies. Investors Alpha TC Holdings Pte.

Float hopeful Masons Stevens is pushing ahead with its plans to list before the end of the year.

Deepak Shenoy, Founder, Capital Mind, says “technically, Vedanta is not a great play. If you bought it for fundamental reasons, then you probably want to wait to see how the demergers evolve into the results which should start coming in and more colour should start coming in once they announce results. So you might as well wait for that to make a decision. The reason to exit is probably related to why you entered in the first place.” What do you make of this move coming in from Vedanta? Earlier it was all about merging and now it is all about demerging? Yes, it is a little crazy.

An engineering company that provides services to BHP, Rio Tinto and Santos is considering joining the ASX in a float that could value it at more than $400 million.

Updater Services IPO: Listing date of Initial Public Offering (IPO) of Updater Services Limited has been fixed on 4th October 2023 i.e. today.

HDFC Bank: HDFC Bank Ltd. is revamping some parts of top management as the Indian bank seeks to propel its mortgage business. It has brought IT and digital functions, led by Ramesh Lakshminarayanan directly under CEO Sashidhar Jagdishan as the bank leans on technology to offer more products and services across its branches.

This is part of a series of interviews with the winners of The Economic Times Startup Awards 2023. Indian markets may come across as an ideal option for many software players to go public as the bar for listing in the US gets higher and investors here open up to technology-based listings, Jishnu Bhattacharjee, managing director of Nexus Venture Partners, said.

By Stephen Nellis and Samrhitha A

With only three months of deals left in the year, it’s time to review the scoreboard. A trio of top-tier investment banks – Barrenjoey, UBS and Macquarie – are angling for a top spot on the equity capital markets league table, Dealogic data reveals.

Mumbai: JSW Infrastructure Ltd, commercial port operator firm of JSW Group, on Tuesday, hit the upper circuit on its debut. The shares listed at ₹143 per share on BSE and NSE, at a premium of 20.17%. The company’s share price closed at ₹157.30 per share on the BSE and NSE, a 32.18% premium.

₹2 per share, according to the addendum filed with SEBI. As part of the Tata Tech IPO, Tata Motors will sell up to 8.11 crore shares via offer for sale, Alpha TC will sell up to 9.71 crore shares, Tata Capital Growth Fund I will offer up to 48.58 lakh shares.

Saraswati Saree Depot, Exicom Tele Systems, and Vibhor Steel Tubes — have filed their draft prospectus papers with Sebi to launch their respective IPOs. Saraswati Saree Depot The IPO of Saraswati Saree Depot includes a fresh issue of 72.45 lakh shares and an offer for sale (OFS) of 35.5 lakh shares. Under the OFS, promoters Tejas Dulhani, Amar Dulhani, Shevakram Dulhani, Sujandas Dulhani, Tushar Dulhani, and Nikhil Dulhani will offload shares. The offer is being made through the book-building process where 75% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Saraswati Saree Depot is a key player in the sarees wholesale (B2B) segment, and its origin in the sarees business dates back to 1966. It is also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. On average, more than 90% of the company's total revenues are generated from the sale of sarees.

The Rs 640-crore IPO of Updater Services was subscribed 2.9 times overall at the close. The issue comprised fresh equity of Rs 400 crore and an offer for sale (OFS) of 80 lakh shares by promoter and other selling shareholders. The company priced the IPO in the range of Rs 280-300 per share.

Vaibhav Jewellers, even though in line with expectations, disappointed investors. The stock debuted at Rs 213.5 per share, compared with its IPO price of Rs 215. Analysts were mixed on the post listing strategy for investors. While some recommended investors to exit their positions, others advised to hold the stock for the long term. “The muted listing could be due to a number of factors, including the high IPO price, the company's relatively small size, and the competitive jewelry market," said Shivani Nyati, Head of Wealth, Swastika Investmart, while recommending an exit position. The IPO of Vaibhav Jewellers barely scraped through on the last day of the bidding process.