IPO Financial News

KRN Heat Exchanger was subscribed 93 times so far on Day 3, driven by a massive demand from the non-institutional investors. As of 12:30 pm, the issue was subscribed by a whopping 256 times by the NIIs while the retail category had subscribed the issue by 73.6 times. Meanwhile, the portion reserved for the qualified institutional buyers (QIBs) was subscribed 8.26 times.

SME IPO of HVAX Technologies will open for subscription today and close on October 1. The company aims to raise Rs 34 crore through the SME IPO and list the shares on 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. India surpassed emerging markets peers to again solidify its status as a premier destination for foreign portfolio investors (FPIs), drawing consistent inflows despite bouts of turbulence and concerns over high valuations. Overseas buyers net invested $5.9 billion into domestic stocks this month alone so far, according to data from Bloomberg, attracted by the country’s economic fundamentals and beginning of the rate cut cycle in the US.

cancer therapy developer Bicara Therapeutics became a publicly listed company after getting listed on Nasdaq on Wednesday. The Boston-based company is a clinical-stage biopharmaceutical company for bifunctional therapies for patients with solid tumors. Claire Mazumdar, chief executive of Bicara, said the company now has the capital and resources for its clinical studies following the initial public offering (IPO).

Subscribe to enjoy similar stories. In 2024, India has taken the lead in global IPO volumes, with 178 companies debuting on the stock market. In the first half of 2024 alone, India accounted for 25% of global IPO activity.

SME IPO of Sahasra Electronic Solutions has opened for subscription and closes on September 30, Monday. The company aims to raise nearly Rs 31.10 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue:

IPO of Divyadhan Recycling Industries will open for subscription today and will close on Monday, September 30. The company aims to raise nearly Rs 24 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

Anand Tandon, Independent Analyst, says the very fact that we have a robust market despite the inflow of new fresh money-raising IPOs is both good and bad. It shows that we have a very robust sentiment towards the market and it also helps to take some focus away from the secondary market where some stocks have reached stratospheric valuation. So, from both perspectives, it is good for the longer term. In the near term, right now it is a lottery. Clearly the action is heating up in the primary market with large IPOs coming in. Swiggy as well as Hyundai IPOs are in the offing and it looks like the investment bankers are not worried about liquidity. Have you looked at the DRHP of either of the companies? Would you be a subscriber to either Hyundai or Swiggy? Anand Tandon: These are all large companies with large capital raises, but also businesses which are fairly steady. So, from that point of view, one does not worry too much these days about valuations as the market has shown us. The question is if the market is pricing IPOs post their listing at way more than what they are coming in at, that does not mean that they should actually be doing that or that it is in any way a reflection on them being priced cheaply.

Indian stock exchange operator BSE Ltd. has told bankers to increase their oversight of the initial public offering applications of small companies, after the exchange found discrepancies in the filing documents of some recent deals, according to people familiar with the matter. Sundararaman Ramamurthy, the BSE’s chief executive, told bankers on Tuesday to ensure IPO hopefuls aren’t inflating their numbers, the people said, requesting not to be named because they aren’t authorized to talk about the meeting. He also asked them to put more effort into assessing potential listing candidates in-person, including by visiting the companies’ premises, they said.

Waaree Energies, a leading manufacturer of solar photovoltaic (PV) modules in India, is set to launch its initial public offering (IPO) in October. The company received final regulatory approval from the Securities and Exchange Board of India (Sebi) on September 20, 2024, allowing it to proceed with its ambitious fundraising plans.

«Today, you just present a good story, people are willing to buy. And some of the recent IPOs are doubling just the day after listing are adding to this frenzy. But it is the institutional segment, the merchant bankers who need to be disciplined, who need to not use everything as a revenue earning opportunity,» says Sunil Subramaniam, Market Expert. Am I right in saying when I say that right now merchant bankers who are taking some of the SME IPOs public, they are not doing their fiduciary duty. They are like the SEBI, whole-time director Mr Bhatia said that they are prescribing steroids when paracetamol can do the work? Sunil Subramaniam: I think absolutely because if you look at it, the situation is that you have a gullible investing public. You look at the stories around the F&O story, the margin trading story, the Demat account, people just buying stocks. So, there is what is called in Hindi, the hawa. So, in this place, all it needs is a good story for people to buy it. And it has gone to such an extent that I got a WhatsApp forward saying, somebody has got 10 tickets to the Coldplay concert and wants to launch an IPO. Fin influencers are also a part of this.

KRN Heat Exchanger which opened for subscription earlier today, sailed through on the first day of the bidding process. The issue has been subscribed 7.5 times so far, driven by strong demand from the non-institutional investors. As of noon, the issue was subscribed by 14.75 times by the NIIs while the retail category had subscribed the issue by 8.8 times. Meanwhile, the qualified institutional buyers (QIBs) attracted bids of 34,710 shares against the 31,07,455 reserved for them.

market regulator for its proposed $1.25-billion public issue, investment banking sources told ET, reflecting the growing appetite for new-age investment choices in a country witnessing an unprecedented consumer boom. The Bengaluru-based company had filed draft papers for the IPO with the Securities and Exchange Board of India (Sebi) through the confidential filing route in April this year.

Swiggy has received approval from the market regulator for its proposed $1.25 billion public issue, according to sources. The Bengaluru-based company had filed draft papers for the IPO with the Securities and Exchange Board of India (Sebi) through the confidential filing route in April this year. Swiggy will now need to file an updated draft red herring prospectus (DRHP) with the market regulator. A 21-day period will be provided for the public to give feedback on the UDRHP before launching the IPO. The IPO is expected to raise Rs 3,750 crore ($450 million) in fresh capital, along with an offer-for-sale (OFS) component of up to Rs 6,664 crore ($800 million).

Subscribe to enjoy similar stories. Mumbai/Bengaluru: Early-stage venture capital (VC) firm Accel is evaluating partial stake sales in a bunch of its portfolio companies, including Swiggy, Urban Company, BlackBuck and BlueStone, as part of its ongoing efforts to create liquidity. The deals are expected to be a mix of pre-initial public offering (IPO) secondary sales and offer-for-sale (OFS) transactions in upcoming IPOs, three people familiar with the strategy said.

Subscribe to enjoy similar stories. SME initial public offerings (IPOs) have been coming thick and fast. According to data from primedatabase, as many as 104 SMEs (small and medium enterprises) have used BSE and the National Stock Exchange’s (NSE) SME platform to raise ₹3,405 crore in FY25 so far.

Subscribe to enjoy similar stories. Shares of Amber Enterprises India Ltd hit a new lifetime high of ₹5,361 on Tuesday before ending the day 4% lower. The company is known for its contract manufacturing of consumer durable products, particularly air conditioners (AC).

Subscribe to enjoy similar stories. The claim that "real estate investment never leads to losses" is one that circulates frequently among investors. Many people are convinced that holding on to a property long enough will always result in a profit.

Fractal Analytics, a provider of artificial intelligence services, is considering filing for an initial public offering in Mumbai as soon as November to raise $500 million, according to people familiar with the matter. Fractal, known as India’s first AI unicorn, may seek a valuation of at least $3.5 billion in the share sale, the people said, asking not to be identified because the deliberations are private. The offering may include both new and existing shares, the people said, adding that a listing could take place as soon as the first quarter of 2025.

Subscribe to enjoy similar stories. Bajaj Housing Finance recently entered the primary market with an initial public offering (IPO), aiming to raise ₹6,560 crore, but it drew bids exceeding ₹3.2 trillion. Similarly, PN Gadgil Jewellers sought to raise ₹1,100 crore and received bids of over ₹48,000 crore.

Northern Arc Capital listed on the exchanges on Tuesday with a premium of 33.5%. The stock debuted at Rs 351 on BSE and Rs 350 on NSE against an issue price of Rs 263. The company, a leading non-banking financial company (NBFC) specializing in retail loans, received an impressive response for its IPO, with a subscription rate of 117.19 times.