IPO Financial News

Nisus Finance Services has received the approval from the Bombay Stock Exchange (BSE) for launching its initial public offering (IPO). The issue will comprise a fresh issue of 57.80 lakh equity shares each with a face value of Rs 10, along with an offer for sale of up to 7,20,000 equity shares, aggregating to a total issue size of up to 65,00,000 equity shares.

Inventurus Knowledge Solutions and packaging company Manjushree Technopack have received a go-ahead from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs). After refiling their IPO papers in August, the companies received regulatory approval between November 4 and 8. Shares of the companies would be listed on the BSE and the National Stock Exchange (NSE).

Hindalco Industries will relook at the IPO of its US-based subsidiary Novelis Inc once market conditions are right, allowing the company to command premium valuations, managing director Satish Pai said. The Indian aluminium major also announced a capital expenditure of $4 — $5 billion over the next three years for its upstream Indian projects. “The next few quarters for Novelis are going to be a little bit tough because the scrap spreads are tight. So I think for the IPO, we will wait till we are happy with the market conditions and Novelis performance is also at that level, then we can get that premium valuation that we want,” Pai said on a call after the company’s quarterly earnings.

Sagility India will debut on the exchanges on Tuesday. Ahead of the listing, the company's shares were trading with a GMP of Rs 0.3 in the grey market. Considering the upper price band of Rs 30, the company's stock is expected to list at 1% at the bourses.

IPO launch last week, the shares of food delivery company Swiggy will debut on the exchanges on Wednesday. Ahead of the listing, the company's shares are trading with a GMP of Rs 1 in the grey market, indicating a 0.26% premium over the issue price. The IPO, which was subscribed just over 3 times, was priced at Rs 390 at the upper end. The subscription response for the IPO was sluggish despite being the second-largest e-commerce and food delivery player.

NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Subscribe to enjoy similar stories. At every dinner party, celebration, and family get-together this year, there was at least one person boasting how much they earned on an IPO listing day. Indeed, IPOs are hot right now.

foreign portfolio investors (FPIs) in the Indian stock markets, Sriram Krishnan, Chief Business Officer of the National Stock Exchange (NSE), expressed confidence in the resilience of India's growth story.

Swiggy IPO is likely to be finalised later on Saturday. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on the BSE or even on the registrar's website.

Zomato and Swiggy have violated antitrust norms by getting into «exclusive arrangements» with restaurant partners, a person aware of the details said.

National Stock Exchange (NSE) on Friday said it wants to launch its IPO, which could beat Hyundai's record of largest public issue, not for price discovery of its shares but for the sake of transparency and accountability. “The IPO will increase transparency and accountability. We are valued at around Rs 4.75 lakh crore in the unlisted market and as India's largest exchange we should be accountable to the market," Sriram Krishnan, Chief Business Development Officer, NSE, told reporters in New Delhi on Friday.

Subscribe to enjoy similar stories. An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show.

Unimark Business Solutions Private Ltd, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday. Proceeds from the fresh issue worth Rs 330 crore will be used for setting up a new plant of 1,200 TPD (tonnes per day) in Madhya Pradesh, Rs 85 crore for payment of debt and the rest towards general corporate purposes.

₹371 to ₹390 per share. The company aims to raise ₹11,327 crore from the IPO, which will include a fresh issue of shares valued at ₹4,499 crore alongside an offer for sale (OFS) of ₹6,828 crore.

Aadhar Housing Finance (AHFL), the country's largest affordable housing loan company, has gained 47% over its IPO price notwithstanding the range bound movement in the first month after listing in the middle of May. Given the lender's sustained growth momentum in the first half of the current fiscal year and the government's continued thrust on affordable housing, the stock is likely to stay on investors' radar. It has risen by 8% over the past month despite choppiness in the broader market. AHFL, which is owned by BCP Topco, an affiliate of the Blackstone group, had raised Rs 1,000 crore through a fresh issue of shares in May at price of Rs 315 per share to augment its capital base. The promoter stake now stands at 75.9% from 98.7% before the IPO.

As of 11:09 am, the issue had attracted bids for 2,75,03,790 shares, or 47% of the total issue size of 5,82,03,223 shares. The retail portion of the issue was subscribed 1.57 times, while the non-institutional category's subscription rate stood at 37%. The allocation for qualified institutional bidders was booked at 15%.

Around 11:30 am, the highest subscription was witnessed by the retail participants, who bid for 1,01,98,000 shares from the 3,14,28,571 reserved for them. They had subscribed to the issue by 32%. Non-institutional investors (NIIs) had subscribed the issue by 2%.

At 11 am, the issue attracted bids for 24,98,62,000 shares, or 65% against the issue size of 38,70,64,594 shares. The retail portion of the issue was subscribed 2.82 times, and the non-institutional category's subscription rate stood at 37%. The qualified institutional buyers (QIBs) portion witnessed a subscription of merely 7%.

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