IPO Financial News

Prosus, the Dutch-listed technology investment arm of Naspers, is gearing up for a ramp-up in its India IPO pipeline, highlighting five potential IPOs over the next 18 months. E-commerce firm Meesho, omnichannel jewellery retailer Bluestone, and fintech company PayU India are among the firms lining up for public offerings. Prosus CEO Fabricio Bloisi did not elaborate on the IPO timelines during a call with reporters on Monday. The company also disclosed that it had acquired an 11% stake in supply chain finance firm Mintifi for approximately $80 million. Additionally, it invested $100 million in housing finance company Vastu Finance, securing an 8.4% stake.

Prateek Agrawal, MD & CEO, Motilal Oswal AMC, says if we see more drops this month, it’s likely we’ll witness a bottom formation. There’s some positive news to highlight. The GST collection figures were solid. Although the GDP data for Q2 didn’t meet expectations, it’s clear that mining and electricity were the two sectors that dragged it down. The slower growth in those areas was mainly due to improved monsoon conditions. As we move into Q3, we can expect to see better numbers. There’s definitely a sense of optimism around. It has been quite a yo-yo kind of a market. The excesses in the market are over, is it time now to start buying the fear and volatility? Prateek Agrawal: That has been our thought for some time now. Typically, we have seen that a 5% to 6% kind of a correction is a good correction. And buying comes in. This time around, we saw intense selling in the month of October. November saw a reduction. Now, if this month sees further reduction, chances are good that the bottom formation that we are talking about happens. There is some data to cheer about. The GST collection data was good. While the GDP data for Q2 was lower than expected, very clearly there were two spaces which pulled it down, mining and electricity.

The allotment of IPO of C2C Advanced Systems, which received strong response from investors, will be out today. To check the allotment status through the registrar, follow the below mentioned steps. The registrar in this case is Link Intime India.

IPO party of 2024 stood out as a landmark year for fundraising, with blockbuster issues making headlines and drawing strong investor interest. However, the post-listing performance of many of these IPOs was mixed with 48% of the issues or nearly 1 in 2 slipping below their listing day close, according to an analysis by ETMarkets. Out of the 72 IPOs for which data is available, 35 are currently trading below their listing day price. On the brighter side, three issues have turned into multibaggers, while 27 have delivered strong double-digit returns since their debut.

Rajesh Power Services will debut on the BSE SME platform on Monday. Ahead of the listing, the company's shares were trading with a GMP of Rs 144 in the grey market. Considering the upper price band of Rs 335, the stock is expected to list with a premium of 40% or above going by the grey market trends.

Foreign portfolio investors (FPIs) showed a sustained interest in the primary market in November 2024 while moderating the extent of selling in the secondary market compared with the previous month. According to the data from NSDL, they invested $2,098.4 million (Rs17,704 crore) in the Indian primary market through IPOs and QIBs. This followed the three-year high monthly investment of $2,361 million (Rs19.841.9 crore) in the previous month. In 2024 so far, FPIs have invested $12,373.9 million (Rs1,03,601 crore) through the primary route, far outpacing $5,242.1 million (Rs 43,347.1 crore) that they had pumped in the whole of 2023. Their higher engagement in the primary market owes to the rising activity in the IPO segment in the current year. As many as 79 mainboard IPOs have together raised nearly Rs 1.4 lakh crore so far in 2024, the highest in any year.

Subscribe to enjoy similar stories. 2024 has been a landmark year for the Indian initial public offer (IPO) market, with an unprecedented surge in fundraising and retail participation. The allure of quick wins has led to massive oversubscriptions, especially in the small and medium enterprises (SME) segment.

Subscribe to enjoy similar stories. Markets regulator Securities and Exchange Board of India (Sebi) has recently identified several concerns plaguing the SME space such as misuse of IPO proceeds, fund diversion, promoter exits and market misconduct. These issues pose threats to investor protection and market integrity.

Property Share Investment, Nisus Finance Services and Emerald Tyre Manufacturers. Apart from these new IPOs, the Street will see 8 listings including that of Suraksha Diagnostic, which is currently open for public subscription.

Borana Weaves Limited, which specializes in the production of unbleached synthetic grey fabric, has filed its Draft Red Herring Prospectus (DRHP) with markets regulator SEBI for an IPO. The issue size will be of up to 70,00,000 equity shares with a face value of ₹10 each, all of which will be issued as a fresh issue. Borana said its objective is to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric at Surat. It also aims to secure funding for incremental working capital requirements and for general corporate purposes.

Zomato has closed its qualified institutional placement (QIP) to raise ₹8,500 crore, the company said in a filing to the stock exchanges on Friday. The shares were priced at ₹252.62 which is at a nearly 12% discount to Zomato's Thursday closing price of ₹286.10 on the BSE.

Subscribe to enjoy similar stories. Citigroup is nearing an important milestone in efforts to spin off its Mexican consumer bank, an important part of chief executive Jane Fraser’s turnaround strategy. The bank said it would complete a split next week of the systems that underpin Banamex from the rest of its operations in Mexico.

Enviro Infra Engineers made a strong debut at the bourses on Friday, which exceeded the Street expectations. The stock listed at nearly 49% premium over the issue price. Post the listing, however, there were signs of some profit booking, sending the shares down 5%. This solid performance was driven by the company's strong fundamentals, strong investor response for the IPO and the positive sentiment surrounding the water and wastewater treatment sector.

Orkla ASA is considering an initial public offering of its Indian business next year that could raise as much as $400 million, according to people familiar with the matter. Orkla may file for an IPO in Mumbai as soon as next quarter, the people said, asking not to be identified as the information isn’t public. The Oslo-based company is working with advisers on the potential share sale, the people said. It could seek a valuation of over $2 billion for the unit, one of the people said.

₹420 to ₹441 each. On Thursday, the company announced that it has raised ₹254 crore from anchor investors, just a day before the opening of its initial share sale for public subscription.The IPO of the Kolkata-based company includes an Offer for Sale (OFS) of 19,189,330 equity shares valued at ₹846.25 crore at the upper end of the price band.

investors need to know about the public offer before subscribing to the issue.

NSE SME platform on Friday. Ahead of the listing, the company's shares were trading and had no GMP in the grey market. This implies a flat to negative premium on debut. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.

Considering the upper price band of Rs 148, the stock is expected to list with gains of 33% over the issue price if the current trends are sustained.

NTPC Green Energy rose 4% in today's session, reaching a high of Rs 127.55 on the BSE, after the company announced that it had successfully commissioned the first part of the 105 MW Shajapur Solar Project, with a capacity of 55 MW. “In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that consequent upon successful commissioning, first part capacity of 55 MW out of 105 MW Shajapur Solar Project (Unit-I) at Shajapur, M.P of NTPC Renewable Energy Limited (a wholly-owned subsidiary of NTPC Green Energy Limited), is declared on Commercial Operation w.e.f. 00:00 Hrs. of 29.11.2024,” said the company in a filing.

Pony AI rose about 15% in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms. The company's depositary shares opened at $15 in their Nasdaq debut, compared with the IPO price of $13. The IPO comes after nearly two years of uncertainty following Didi Global's delisting amid regulatory backlash in China, with Beijing easing tensions by resolving a long-standing audit dispute with the US accounting watchdog in December 2022.

Honasa Consumer (Mamaearth) hit 10% upper circuit at Rs 251.5 in Thursday's trade backed by heavy volumes on the NSE. A total of 17.6 lakh equity shares worth Rs 43.94 crore changed hands so far. This rally came after the stock had been under significant pressure. Honasa's share price had fallen nearly 40% over the past month and more than 50% in the last three months. It also dropped below its IPO price of Rs 324 earlier this month.