IPO Financial News

At 10:44 am, the issue attracted bids for 2,40,61,258 shares, or 15% against the issue size of 16,01,09,703 shares. The retail portion of the issue was subscribed at 68%, and the non-institutional investor category's subscription rate stood at 9%. The qualified institutional buyers (QIBs) were yet to subscribe.

Waaree Energies fell by 6.4% to their day’s low of Rs 3,400.50 even as the company secured an order for supply of modules upto 180 Mwp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India. The supply of modules is scheduled to commence at the end of November 2024 and complete in Q4 of FY 2025, the company said in an exchange filing.

Capillary Technologies, which provides customer engagement and loyalty software services to companies, is reviving plans for its initial public offering after having shelved its previous attempt in 2021, people aware of the matter said.

Subscribe to enjoy similar stories. Niva Bupa Health Insurance is poised to debut in the public market with its upcoming ₹2,200 crore initial public offering (IPO). The price band for the issue has been set between ₹70 and ₹74 per share.

At 11:15 am, the issue attracted bids for 59,63,685 shares or 10% against the issue size of 5,82,03,223 shares. The retail portion of the issue was subscribed 50%, while there were no bids from qualified institutional buyers. The allocation for non-institutional investors (NII) was booked 4%.

Rahul Jain, Director, Dolat Capital, says quick commerce becoming better than food delivery is kind of an obvious thing. Swiggy being different from Zomato is basically having a common fleet and there is a certain leverage from the same consumer base. Is that going to change the play or make unit economics favourable? That is what Swiggy needs to demonstrate in the coming period and a differentiating angle that they can probably bring into the space. Should one subscribe to the Swiggy IPO? Rahul Jain: It would be very difficult for us to call at this point because there is very limited understanding in terms of what this company is actually going to do to change the matrix versus what the largest company is doing. At this point, it is clear that they are behind the curve in terms of improving the profitability of the business, which is an important element for valuation. And competition in this space is actually heating up. So, there is not much to talk about, not much debate on that element and thus, in that absence, it becomes a difficult call to make.

Hemang Jani, Independent Market Expert, says at index level, there has been an almost 10% correction, at stock level anywhere from 10% to 25-30%. A large part of that pain is behind us. It is time to start accumulating stocks, particularly the pockets where the numbers have been good, whether it is banks, defence, some of the pharma companies, telecoms, so on and so forth. We are all heaving a sigh of relief with yesterday’s rebound that we witnessed. What do you make of it? Do you think that the much overdue correction is still eluding us and is yet to come or is this going to be the course of action for the markets a couple of days on the downside and then we will bounce back? Hemang Jani: We are going through this correction for almost three to four weeks now. Of course, the earning season has been one of the main triggers, which has been a bit disappointing across sectors and within sectors also we are seeing a lot of divergence. But once this US election as an event is out of the way and once we see some clarity emerging, our markets should stabilise because a large part of the correction, which is earnings led has already been priced in because at index level we have seen almost about 10% correction, at stock level anywhere from 10% to 25-30%.

₹371 to ₹390 from Wednesday, November 6 to Friday, November 8. The food delivery giant has attracted significant interest from institutional investors, collecting ₹5,085.02 crore through the anchor book launched on November 5.

Subscribe to enjoy similar stories. Negative marketing on social media through paid posts is on the rise as many small- and mid-sized startups seek to put down rivals, industry experts said. Such marketing can be of various types, although campaigns orchestrated through paid social media posts are most common, several marketing executives told Mint.

The IPO, which opens Wednesday and closes Friday, has been priced in the band of ₹371-390 per share. The grey market premium — the price in the unofficial market that investors pay for the shares before listing — was at ₹20 for Swiggy on Tuesday, a 5% premium to the upper price band of ₹390.

Swiggy’s initial public offering (IPO) opened on Tuesday with the public issue launching on Wednesday.

Rohit Kapoor said the company as a whole is «very well positioned» and is looking at an organic growth trajectory for its quick commerce business Instamart. The Bengaluru-based company is aiming to garner Rs 11,327 crore from the IPO, which will open for public subscription on November 6 and conclude on November 8. In an interview to PTI, Kapoor said Swiggy is «not very acquisitive in nature» but is open to pursuing inorganic growth through acquisitions for the quick commerce arm Instamart if something exciting comes along. «We are not averse to acquisitions but it has to make immense sense for us and it cannot be only for the purpose of adding revenues. It has to be for certain competencies and benefits. Right now, I think we feel very well positioned, we have the business, we have the technology and we have the people so unless and until something very very exciting comes along the way the likely scenario for Instamart is going to be more organic growth and investments,» Kapoor said.

Swiggy Limited is set to make waves with its Rs 11,000 crore IPO, positioning itself for even bigger growth in food delivery, grocery, and more. ETMarkets got the chance to sit down with Swiggy’s top leaders, Group CEO & MD Sriharsha Majety and CFO Rahul Bothra, to talk about what’s next for the brand, its unique edge in a competitive market, and where the company’s finances are headed. Let’s jump into Swiggy’s Rs 11,000 crore IPO. With everything from food delivery to Instamart, it’s a major offering. So, what’s Swiggy focusing on right now?

While the company does not have any identifiable promoter, several institutional investors such as Accel India, Apoletto Asia, Alpha Wave Ventures, DST Euro Asia and Norwest Venture Partners are partially divesting their stakes through the IPO. Proceeds from the fresh issue will be used to repay debt, add dark stores, invest in technology and cloud infrastructure, brand marketing and fund inorganic growth.

Canadian generic drug manufacturer Apotex Inc. is making plans for a potential initial public offering next year, according to people familiar with the matter.

NSE), which is gearing up for its IPO next year, on Monday announced that its Q2 consolidated profit after tax jumped 57% year-on-year (YoY) to Rs 3,137 crore due to an 8% drop in expenses. NSE's September quarter operating revenue rose 24% YoY to Rs 4,510 crore. Apart from trading revenue, the revenue from operations was also supported by other revenue lines which mainly includes clearing services, data centre & connectivity charges, listing services, index services and data services.

Subscribe to enjoy similar stories. Grasper Global Pvt. Ltd, the parent of new-age educational toy and games maker Skillmatics, will look to list in India over the next 2-3 years, said co-founder and chief executive Dhvanil Seth in an interview with Mint. The Peak XV-backed company is also exploring newer categories such as gaming for adults and home and nursery, Seth added.

Afcons Infrastructure surged 8.4% to Rs 461.7 on the NSE after their weak debut on the exchanges on Monday. The stock debuted at Rs 426 on the NSE, reflecting a discount of Rs 37 or 8% over the IPO price of Rs 463. Meanwhile, the stock debuted 7% lower at Rs 430 on BSE.

Subscribe to enjoy similar stories. India’s flexible space providers have reported a multifold surge in revenue since the pandemic as corporates joined startups and professionals in seeking alternative workspaces closer to employees instead of setting up large, traditional offices. Awfis Space Solutions, a publicly listed co-working space provider, saw its revenue from operations jump nearly fourfold from ₹178 crore in FY21 to nearly ₹849 crore in FY24, according to the company's IPO filings and annual report.