IPO Financial News

The company initially raised 5-6% equity in private placements, setting a valuation benchmark that strengthened its IPO appeal.

HDB Financial Services heads for its initial public offering (IPO), shares of the nonbank lender owned by the country’s most-valued bank in the unlisted market have seen a sharp rise — up to ₹1,200 apiece. After the IPO plan was announced, the shares rose to a high of ₹1,400 apiece before settling at ₹1,200. However, brokers in the unlisted market say the euphoria is not justified as they expect the IPO to be priced around ₹750-₹800.

audio products brand Boat has finalised ICICI Securities, Goldman Sachs and Nomura as bankers for a $300-500 million IPO next year, sources aware of the matter said, joining the queue of new-age firms looking to go public. New Delhi-based Boat may aim for a valuation of over $1.5 billion, sources said, adding these numbers may change closer to the IPO filing. It’s targeting a public offer in next financial year. Boat had filed draft papers for a public offering in 2022 but halted those plans citing market conditions and raised $60 million in private capital through convertible preferred stocks notes from existing investor Warburg Pincus and new investor Malabar Investments at a minimum valuation cap of around $1.2 billion. “ICICI Securities is the lead banker for the issue and they are looking to file for next financial year,” one of the persons said. “In total they have finalised four bankers.”

LISBON, Portugal — It's a tough time for the venture capital industry right now as a dearth of blockbuster initial public offerings and M&A activity has sucked liquidity from the market, while buzzy artificial intelligence startups dominate attention.

Subscribe to enjoy similar stories. IPO activity in India has hit a new peak this calendar year, with the total issue size amounting to ₹1.38 trillion – the highest in a decade, surpassing the previous peak of ₹1.31 trillion in 2021.

Swiggy on Wednesday listed at a 5.6% premium to its initial public offer (IPO) price of ₹390, making it the first company with issue size of over ₹10,000 crore in the past decade to have listed above the offer price. The stock closed 17% above its issue price at ₹455.95 in a weak market, surpassing analysts' expectations of a tepid debut. The company's market capitalisation at close on Wednesday was ₹1.02 lakh crore.

In a statement on Tuesday (12 November), Klarna said that it had submitted a draft registration statement to the Securities and Exchange Commission relating to the proposed flotation. The Swedish payments firm said the number of shares to be offered and the price range for the proposed offering «have not yet been determined», but that the IPO is expected to take place after the SEC completes its review process, subject to market and other conditions.  Chrysalis, which holds around £800m in assets, has a long-term holding in Klarna and previously noted that the anticipated float would ...

Subscribe to enjoy similar stories. The alchemy of the venture capital process, in which investments are catalyzed over a number of years into a successful IPO or a big M&A deal, is under pressure. Investors are demanding to extract returns from VC firms and startups even though the IPO market is still in a state of recovery, reflecting lingering economic anxieties and other factors.

Swiggy listed at Rs 421, an 8% premium over its issue price of Rs 390 on Wednesday, becoming the latest new-age company to debut on public markets. The stock closed at Rs 455.95 on the NSE,reaching Rs 464 during the day’s session. The past three years have seen significant IPOs from tech companies, the latest being Ola Electric, FirstCry, and Awfis. Here's a snapshot of notable new-age market debuts and Day 1 gains:

Swiggy made a muted debut by listing at a small premium of 8% over its issue price. After listing, Swiggy shares jumped 9% to Rs 449 on BSE, with its market capitalization crossing the Rs 1 lakh crore mark. The issue, which opened on November 6, was subscribed 3.6 times the shares on offer driven by institutional investors on the third and final day. Retail investors subscribed to their portion 1.14 times while the portion reserved for employees saw 1.65x bidding. Non-institutional investors, which include corporates and high net worth individuals (HNIs), bid for only 41% of the shares reserved for them. Analysts had anticipated Swiggy's muted debut on the bourses as weakness in the broader market dampened appetite among individual investors for newly-listed companies. The grey market premium — the price in the unofficial market that investors pay for the unlisted shares before listing — was at Rs 2 for Swiggy on Tuesday, a 0.5% premium to the upper price band of Rs 390.

Zinka Logistics, which opened for subscription earlier today, has been subscribed by 21% so far on the first day of the bidding process. Around 1:15 pm, the issue had attracted 46,70,514 bids out of the total 2,25,67,270 available for subscription. The highest demand was driven by the retail investors subscribing to the issue by 35%, followed by the qualified institutional buyers (QIBs)

Zomato chief executive officer Deepinder Goyal took to social media to congratulate rival food delivery platform Swiggy on its stock market debut on Wednesday. The Sriharsha Majety-led company listed on the bourses with an 8% premium over its IPO price. «Congratulations @swiggy! Couldn't have asked for a better company to serve India with,» his post on X read. This came after the official handle of Zomato posted an illustration of the BSE, showcasing the listing of Swiggy.

TCS shares and got allotted have seen their wealth become 20 times in 20 years, if they have held on to the shares. And they have to thank former Tata group chief Ratan Tata for that. TCS had issued shares at Rs 850 to investors in its IPO in 2004. And since then, it has issued 1:1 bonus shares twice: First time in 2009 and later in 2018. So if an investor got 1 share allotted in TCS IPO, he holds 4 shares after two bonus issuance. Currently, TCS shares are trading around Rs 4200 in Mumbai market, making investors 20 times wealthier in 20 years. After the death of Ratan Tata last month, former TCS CEO S. Ramadorai, who was at the helm when the company went public, shared how Ratan Tata made the wealth creation possible for Indian retail investors. Ratan Tata had served as the chairman of Tata Group from 1991 to 2012 and later in interim interim chairman from October 2016 to February 2017. Speaking to Rediff.com, Ramadorai highlighted Ratan Tata’s vision during the landmark TCS listing in 2004, emphasizing Tata's commitment to empowering retail investors across India. While many suggested international listing, Tata insisted on listing TCS exclusively within India. His focus was on ensuring that small investors, regardless of how many shares they could afford had access to TCS’s growth potential. Tata believed in setting a share price that would allow for future appreciation, rather than pricing so high that it left investors with limited gains, the former TCS CEO said.

Swiggy surged 9% to Rs 449 on BSE in Wednesday's trade after making its Dalal Street debut at Rs 412. Meanwhile, the company’s market capitalization crossed Rs 1 lakh crore mark. Swiggy’s muted debut on Dalal Street was marked by a small premium of 8% over its issue price. Investors are refraining from making bold bets on the stock since the company is currently loss-making at the consolidated level and is believed to be at least 2-3 years away from PAT level break-even.

Zinka Logistics, which operates the BlackBuck platform, will open for subscription today. The issue, which is a combination of fresh equity sale of Rs 550 crore and an offer for sale (OFS) of 2.06 crore shares, will be available for bidding till November 18. Ahead of the issue opening, the company bagged Rs 500 crore from anchor investors where marquee investors including Nomura, Hornbill Orchid India Fund, Steadview Capital Mauritius, TIMF Holdings, Florida Retirement System among others participated.

NTPC Green Energy has set a price band of Rs 102 to Rs 108 per share for its Rs 10,000 cr ($1.19 billion) initial public offering (IPO), a newspaper advertisement showed on Wednesday. The renewable energy firm's IPO will open for bids on Nov. 19 and close on Nov. 22. Large «anchor» investors will bid on Nov. 18.

Subscribe to enjoy similar stories. The Indian stock market has been in the global spotlight for what The Economist has called the “largest-ever experiment in participatory capitalism." As share indices hit one peak after another over the past five years, attracting retail interest, India’s investor base has grown explosively. Of the country’s 176 million plus ‘demat’ accounts for equity holdings, a vast majority were opened only in the past five years.

Stay tunes for more updatesSwiggy IPO GMP todaySwiggy IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹390 with no premium or discount in the grey market according to investorgain.comConsidering the grey market activities from the last 21 sessions, today's IPO GMP is trending downward and is likely to decrease further. The minimum GMP recorded is ₹0, while the maximum GMP stands at ₹25, as reported by investorgain.com.'Grey market premium' indicates investors' readiness to pay more than the issue price.Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Acme Solar Holdings will debut at the bourses today. Ahead of the listing, the company's shares were trading with a discounted GMP of Rs 4 in the grey market. Considering the upper price band of Rs 289, the current GMP indicates a negative premium over the issue price.

Analysts said this subdued sentiment is likely influenced by the company's continued losses, despite steady revenue growth.

The clean energy subsidiary of state-backed NTPC Ltd. has held discussions with advisers about pricing its IPO at more than 100 rupees ($1.18) a share, the people said, asking not to be identified because the matter is private. NTPC Green Energy may raise up to 100 billion rupees in the share sale, the company has previously said.