IPO Financial News

Digikore Studios IPO: Digikore Studios Limited, specializes in delivering Visual Effects (VFX), has announced its plans to go public with an Initial Public Offering (IPO) on 25th September, 2023. The public issue will remain open till 27th September 2023. The company is aiming to raise ₹30.48 crore on upper band price through this IPO, with shares set to be listed on the NSE EMERGE platform.

Updater Services IPO: The initial public offering (IPO) of Updater Services Limited has opened today and it will remain open for subscribers till 27th September 2023. The public issue has been offered at a price band of ₹280 to ₹300 per equity share and the company aims to raise ₹640 crore from this initial offer. Out of ₹640 crore, ₹400 crore will be raised via issuane of 13,333,333 fresh shares while the rest ₹240 crore is aimed via Offer for Sale (OFS).

Updater Services, a provider of facility management services to corporates, plans to raise ₹640 crore from its initial public offering (IPO). Of this, ₹400 crore will be raised from fresh issuance of shares that would be deployed to repay loans and enhance its working capital and the balance includes an offer of sale (OFS) by promoters and a private equity investor.Promoter holding will drop to 58.5% after the IPO from 80.5%.

₹113 -119 and the bidding for the issue will be open from 25 to 27 September 2023, the company said in a press meet while announcing the IPO. “Some of the key details of the IPO are-the price band ₹113-119 with a bid lot of 126 shares, the total offer size ₹2,800 crore and the entire offering is primary," the company said.

Also Read: IPOs This Week: JSW Infra IPO to Arabian Petroleum IPO; 16 new issues, 8 listings to keep primary market buzzing On Friday, domestic benchmark indices Sensex and Nifty settled lower for the fourth consecutive session, amid weak global cues as the US Treasury yields rose to their multi-year high levels and crude oil prices rose by about a per cent, weighing on investors' sentiment for riskier equities. Nifty 50 closed with a loss of 68 points, or 0.34 per cent, at 19,674.25 while the Sensex ended at 66,009.15, down 221 points, or 0.33 per cent.

Apoorva Mehta, more than a decade ago, is now a publicly traded company on the US stock exchange Nasdaq.Instacart, the San-Francisco-based startup, listed its shares on the Nasdaq on Tuesday at $30 a piece, aiming to raise $660 million at a valuation close to $10 billion. Although its market value at public listing was only a fraction of its 2021-valuation of $39 billion, the IPO coincides with a resurgence of optimism from tech companies towards the public market.

The price band for the IPO has been fixed at Rs 113-119 a share. JSW Infrastructure is the fastest growing port-related infra company in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. Ahead of the IPO, the company raised Rs 1,260 crore through the allotment of shares to anchor investors. The company has allotted 10,58,82,352 shares to anchor investors at Rs 119 apiece. About 11 mutual funds participated in the pre-IPO placement through a total of 28 schemes. SBI Mutual Fund, ICICI Prudential MF, HDFC Mutual Fund, Nippon India MF, Aditya Birla Sun Life MF, Sundaram MF, Franklin Templeton, UTI MF, Tata AMC, and Baroda BNP Paribas MF are the mutual funds that participated in the anchor placement of shares. Among foreign portfolio investors, the Government of Singapore was allotted 5.6% of the total anchor placement.

₹51-54 a share for its ₹71.30 crore initial public offering (IPO). According to a report by Moneycontrol, the IPO will open for anchor investors on 27 September and will close on 4 October. According to the report, the funds raised will go towards building a new factory for house wires, aluminum cables, and solar cables to expand the product portfolio as well as meet the company’s operational needs.

Moneycontrol, the pharma company is in talks with four investment banks to prepare for a listing in 2024. In April this year, Akums' top executives had told Mint that they were working towards a stock market listing in two to three years. Joint managing director Sanjeev Jain at Akums told Mint in an interview, "We are planning an initial public offering (IPO) in a span of 2-3 years".

Also read: Week Ahead: Macro data, IPO action, FII mood, global cues among key market triggers this week Concerns like rising crude oil prices, firm US dollar index and treasury yields coupled with continuous FII selling have been denting the sentiment in the markets, Amol Athawale, Vice President - Technical Research, Kotak Securities Ltd, said. "Global and domestic macroeconomic data, trend in global stock markets, crude oil prices, movement of rupee against the dollar, investment by FIIs (Foreign Institutional Investors) and DIIs (Domestic Institutional Investors) will be in focus.

This saw the benchmark Sensex and Nifty50 drop close to 3% each and snap a three-week winning streak. The week ahead is unlikely to bring major fireworks, and market experts see high volatility amid the expiry of the September derivative series. Global markets, which also played a role in the downward trend of local shares, will continue to be closely tracked by investors for cues. Further, foreign institutional investors were big sellers in the domestic market last week. So, their trading strategy will be closely tracked to gauge market direction.Global Markets Benchmark indices in the US registered 2-4% weekly losses, which has turned the global sentiment sour. “The global markets are facing challenges, particularly after the ultra-hawkish FOMC policy.

logged its worst week in over 15 months on lingering worries over a higher global interest rate environment following the US Federal Reserve's hawkish tone. Nifty 50 closed with a loss of 68 points, or 0.34 per cent, at 19,674.25 while the Sensex ended at 66,009.15, down 221 points, or 0.33 per cent. While domestic investors offloaded in healthcare, consumer durable and commodity stocks, foreign fund outflows and a steep decline in HDFC Bank shares also hit market sentiment.

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 last week of September sees strong market buzz - similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription. Last week, three mainboard IPOs - Jupiter Life Line Hospitals, EMS Limited and R R Kabel listed raising a total of ₹3,154 crore.

Multibagger IPO: Ace American investor Charlie Munger believes that money is not in buying and selling of stocks but in wait. The Vice Chairman of Berkshire Hathaway is of the opinion that investing in stocks is like investing in business and one should try and hold a stock as long as one can. This helps an investor to get compounding benefit as it enjoys return on the earnings it has got durin the investment period.

Newjaisa Technologies IPO: The initial public offering (IPO) of Newjaisa Technologies Limited is going to hit primary market on 25th September 2023 o.e. on Monday next week. The book build issue has been priced at ₹44 to ₹47 per equity share and it will remain open for bidding till 27th September 2023.

JSW Intrastructure IPO: The initial public offering (IPO) of JSW Intrastructure Limited is going to hit primary market on 25th September 2023 i.e. on Monday next week. The company has fixed JSW Intrastructure IPO price band at ₹113 to ₹119 per equity share and the book build issue will remain open for subscriber till 27th September 2023.

The company allotted 10,58,82,352 shares to anchor investors at Rs 119 apiece. About 11 mutual funds participated in the pre-IPO placement through a total of 28 schemes. SBI Mutual Fund, ICICI Prudential MF, HDFC Mutual Fund, Nippon India MF, Aditya Birla Sun Life MF, Sundaram MF, Franklin Templeton, UTI MF, Tata AMC, and Baroda BNP Paribas MF are the mutual funds that participated in the anchor placement of shares. Among foreign portfolio investors, the Government of Singapore was allotted 5.6% of the total anchor placement. The Monetary Authority of Singapore received around 1% of the total placement. Morgan Stanley was allotted 3.5% of the total anchor placement, while Goldman Sachs got 0.4% of the total size. Besides these, Sunil Singhania-owned Abakkus Investment was allotted around 2% of the anchor portion. The Rs 2,800-crore IPO will open for subscription on Monday and close on Wednesday.

IPO market frenzy continues with three mainboard offers and as many as 13 SME issues opening for subscription in the next week, planning to raise a total of nearly Rs 4,000 crore. Last week, three mainboard issues Signature Global, Sai Silks and Manoj Vaibhav Gems Jewellers hit the markets to raise over Rs 2,200 crore from investors. The primary market remained unfazed even amid mixed global trends. A push provided by foreign institutional investors (FIIs), consistent corporate growth, and steady monsoon predictions are some of the factors that led to such buoyancy, said analysts. Here's a look at how the next week is poised.JSW Infrastructure JSW Infrastructure, through its IPO, is planning to raise Rs 2,800 crore and it is by far the biggest public offer in the month of September. It is also the first debut from the JSW Group in 13 years since the listing of JSW Energy in 2010. JSW Infrastructure is the fastest growing port-related infra company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. The IPO, which will be run from September 25-27, is completely a fresh issue worth Rs 2,800 crore.

Tata Capital is planning an IPO for 2025. Tata Capital is currently restructuring its business and expanding its board as part of the efforts, report Anirudh Laskar, Ranjani Raghavan, and Sneha Shah. Government officials met with alternative investment funds, startup founders and fund managers last week to understand why foreign investments had fallen ahead of the election cycle.

Updater Services IPO: The initial public offering of Updater Services Limited is going to hit primary markets on 25th September 2023 i.e. on Monday next week. The public issue worth ₹640 crore will remain open for subscribers till 27th September 2023.