IPO Financial News

Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022, according to data compiled by Bloomberg. The momentum can sustain into next year and beyond as owners of Indian companies are keen to raise funds for other investments, said Abhinav Bharti, India head of equity capital markets at JPMorgan.

Stock market today: Jupiter Hospital share price listed on BSE at ₹960 apiece levels whereas it opened on NSE at ₹973 per share levels, delivering over 32 per cent listing gain to the lucky allottees. However, Jupiter Hospital shares extended its gain further deep and went on to hit four-digit figure within few minites of listing in special pre-open session during Monday deals.

₹30 per share, 30% higher than the issue price of ₹23. However, after a strong debut the shares were locked at 5% lower circuit. Jiwanram Sheoduttrai Industries IPO opened for subscription on Friday, September 8, and closed on Tuesday, September 12.

₹113 -119 per share for its initial public offering (IPO) which will open for bidding on 25-27 September, the company said on Monday. The Sajjan Jindal-led port business is looking to raise ₹2,800 crore through the IPO and will offer a fresh issue of shares as there will be no dilution of the promoter’s existing equity. According to an advertisement, Sajjan-Jindal and family trust hold the majority stake as the promoters.

₹973 per share, 32.38% higher than the issue price of ₹735, and on the BSE, Jupiter Lifeline share price was listed at ₹960 per share. Jupiter Lifeline Hospital IPO opened for subscription on Wednesday, September 6, and closed on Friday, September 8. Jupiter Lifeline Hospital IPO was subscribed 63.72 times on day 3.

Jupiter Life Line Hospitals debuted at a premium of 32.4% over its IPO price at Rs 973 apiece on NSE in Monday's trade. The stock, meanwhile, listed at Rs 960 on BSE, up 30.6%, over the issue price of Rs 735. Ahead of the listing, the stock traded at a premium of Rs 233 in the unlisted market. The Rs 869-crore IPO of Jupiter Life Line Hospitals was subscribed 63.72 times on the last day of the bidding process, led by massive demand from QIBs whose category was subscribed 187 times. The issue, which comprised fresh equity of Rs 542 crore and an OFS of 4.45 million equity shares, was priced in the range of Rs 695-735. The company aims to be debt-free post the IPO.

Even though the mutual fund industry in India has been competitive, the growth has remained largely steady, thanks to the strong inflows, particularly in the last three years. With newer players such as Zerodha, Groww making their entry into the $560 billion mutual fund industry, and Jio Financial Services looking to soon enter, the competition is likely to get hot. However,Seemant Shukla ofJM Financial Mutual Fund believes that India is quite an underpenetrated market globally, leaving enough opportunities for both existing as well as new players. “The anticipated growth in India can easily accommodate both existing and new players with varying strategies, be it passive or active investments,” Shukla, who is the chief business officer at the asset management company, told ETMarkets in an interview. Shukla believes that digitalisation and digital channels can contribute in a big way to expand the reach. “Considering that the US has multiple asset management companies for a population of 35 crore, it’s clear that we have a long journey ahead of us,” he said. Edited excerpts:Institutional interest in IPO issues has increased significantly in recent times. What’s driving this frenzy? After experiencing significant growth in 2017-18, the IPO market reached its peak in 2021-22, and since then, continued to maintain strong traction.

The IPO, which is a first from JSW Group in nearly 13 years, is completely a fresh issue of shares worth Rs 2,800 crore. The company had filed the draft prospectus with Sebi in May this year. 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. The company's business operations expanded from one port concession at Mormugao Port Trust in Goa (acquired by JSW in 2002 and commenced operations in 2004) to nine port concessions across the eastern and western coast of India, making it a well-diversified maritime ports company. The nine port concessions have an installed cargo handling capacity of 158.43 MTPA as of June 2023.

Techknowgreen Solutions IPO: The initial public offering (IPO) of Techknowgreen Solutions Limited has opened today and it will remain open for bidders till 21st September 2023. The fixed price issue has been proposed for listing on BSE SME exchange and Techknowgreen Solutions IPO price band has been fixed at 86 per equity share. Ahead of subscription opening, Techknowgreen Solutions shares have become available for trade in unlisted market.

Jupiter Hospital IPO: Listing date of the initial public offering of Jupiter Life Line Hospitals Limited has been fixed on 18th September 2023 i.e. today. As per the BSE notice, effective from Monday, September 18, 2023, the equity shares of Jupiter Life Line Hospitals Limited shall be listed and admitted to dealings on the NSE and BSE in the list of 'B' group of securities.

By Scott Murdoch

Signature Global, an NCR-based real estate developer, plans to launch 21 million square feet of projects in the next three-five years, primarily in the mid-income housing sector as it looks to reduce debt, said founder and chairman Pradeep Aggarwal. The company, supported by IFC and HDFC Capital Advisors, intends to generate as much as Rs 730 crore through its upcoming initial public offering, scheduled to launch on September 20. Originally established as an affordable housing-focused firm in 2014, Signature Global has transitioned toward mid-income housing due to rising costs of raw materials and land. «We believe the real estate sector is currently thriving, and this presents the ideal opportunity to enter the market.

Signature Global, which is launching its maiden public issue on Wednesday, has achieved 32 per cent growth in its sales bookings to Rs 3,430.58 crore in the last fiscal year on strong housing demand. The Gurugram-based Signature Global, which focuses on affordable and mid-income housing segment, had clocked Rs 2,590 crore worth of sales bookings in the 2021-22 fiscal. The company, backed by HDFC Capital and IFC, will hit the capital market on September 20 with its IPO to raise Rs 730 crore.

IPOs This 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 upcoming week sees strong market buzz for September, which is similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription. Last week, two mainboard IPOs - Rishabh Instruments Limited and Ratnaveer Precision Engineering listed raising a total of ₹655.8 crore.

Jupiter Life Line Hospitals will debut on the exchanges on Monday. Ahead of the listing, the company's shares are commanding a premium of Rs 233 in the unlisted market. The IPO was priced in the range of Rs 695-735. Considering the upper price band, the stock is expected to list at a premium of about 32%. The Rs 869-crore IPO of Jupiter Life Line Hospitals was subscribed 63.72 times on the last day of bidding, led by massive demand from QIB whose category was subscribed 187 times. The company aims to be debt-free post the IPO.

US Federal Reserve policy meeting outcome, foreign fund inflow, crude oil prices, global cues, and more. Domestic benchmark indices Sensex and Nifty hit their fresh record highs last week with frontline index Nifty50 breaching the psychological 20,000-mark on the back of strong macroeconomic indicators such as lower consumer price index (CPI) print, demand optimism in China, and hints of a pause in rate hike by the US Federal Reserve. The tone was positive from the beginning which strengthened further with rotational participation from the index majors across sectors.

(Reuters) -SoftBank is looking for deals in artificial intelligence (AI), including a potential investment in OpenAI, after the blockbuster listing of its Arm unit, the Financial Times reported on Saturday.

Madhusudhan Masala IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) Madhusudhan Masala will open for subscription on Monday, September 21. The homegrown spice manufacturer has set the price band at ₹66 to ₹70 per share for the public issue. The SME IPO will close on Thursday, September 21.

Techknowgreen Solutions IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) company Techknowgreen Solutions Limited opens on Monday, September 18, 2023. The company aims to raise ₹16.72 crore through the public issue. It is a fixed price issue at ₹86 per equity share, at a face value of ₹10 per share.

“Reflecting on the recent market dynamics, where small-cap and mid-caps have seen a dip in prices over the past week, these IPOs might not seem alluring to investors due to their relatively high valuations,” says Mahantesh Sabarad, independent market expert. Edited excerpts:ET Now: I want to discuss the L&T buyback that opens on Monday, 18th September. Given the recent surge in the price of L&T over the last month, the buyback price is now around 3200. How do you view L&T's momentum moving forward? Additionally, do you anticipate strong participation in this buyback tender?Mahantesh Sabarad: Firstly, a disclosure, I own L&T shares. But to address your question, if you consider the number of shares set for buyback and extinguishment, it's just about 2.2%. This, in my view, won't significantly alter the stock's overall fundamentals. Typically, post-buyback, one examines whether there will be a significant improvement in return on equity, as the base capital, the equity capital, diminishes. Since the equity capital reduction is likely just around 2.2%, it's not substantial enough for the ROE to improve merely because of the buyback. As for retail investor participation? Given the narrowing gap between the buyback price and the current market price, many investors might opt out of the buyback. However, I do anticipate that the company will complete the buyback with full subscription, even if the overall number of shares offered might decrease.

SoftBank is looking for deals in artificial intelligence, including a potential investment in OpenAI, after the blockbuster listing of its Arm unit, the Financial Times reported on Saturday. SoftBank's founder and chief executive, Masayoshi Son, is looking to invest tens of billions of dollars in AI, the newspaper said, citing two people familiar with Son's thinking.