IPO Financial News

₹149 per share, according to stock market experts. This indicates that Northern Arc Capital shares are trading higher by ₹149 in the grey market than their IPO price.

Mobikwik Systems on Monday received a go ahead from market regulator Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO). The company had refiled its IPO papers with Sebi on January 4, 2024.

shares of Sodhani Academy of Fintech Enablers Limited debuted on the BSE SME platform at a premium of 32% on Monday. The stock listed at Rs 53 as against an issue price of Rs 40 and hit 5% upper circuit post listing, settling at Rs 55.65. The listing was previously scheduled on Friday but had to be postponed because of the Reserve Bank of India (RBI) circular which had swapped the banking holiday on September 16 to September 18. As a result, the T+1 event (allotment) was scheduled for Friday and listing on Monday.

Diffusion Engineers will open for subscription on September 26. The issue, which closes on September 30, is completely a fresh equity sale of 94.05 lakh shares. The company has fixed a price band of Rs 159-158 per share for the Rs 158 crore public offer. Investors can bid for a minimum of 88 shares in one lot and in multiples thereafter.

Subscribe to enjoy similar stories. SuperApps don’t seem to work in India that well. Deepinder Goyal, founder and CEO of Zomato, learned this early on in his career.

«Only the large companies like NTPC, Tata Power with a strong balance sheet or NHPC, JSW Energy, they can only support this kind of incremental capex which are required beyond 2032, close to 4 lakh, 5 lakh crore kind of opportunity,» says Rupesh D Sankhe, Elara Capital. To begin with, there is debate out on the street whether this IPO of NTPC Renewables is the best thing to do or is it the right time to do or not? What is your take on the same? Rupesh D Sankhe: If you look at their capacity addition target by 2032, it is close to 60 gigawatt capacity. So, current operational capacity is just 3.2 gigawatt and they cannot support more than 2 gigawatt per annum. So, definitely the incremental cash flows will come at around 2,500. It will not add significant growth in their capacity addition for next two to three years.

Afcons Infrastructure — the largest in over two years — is likely to be launched in the first week of October, according to sources. The flagship engineering and construction arm of the Shapoorji Pallonji Group could increase the size of the issue to ₹8,400 crore from ₹7,000 crore planned earlier, including the pre-IPO allotment. This makes it the largest IPO since Life Insurance Corp's (LIC) ₹21,008 crore issue in May 2022. According to the draft red herring prospectus (DRHP), the offering consists of a fresh issue of up to ₹1,250 crore and an offer for sale (OFS) of up to ₹5,750 crore by the promoter, Goswami Infratech. Sources said the promoters are considering selling more shares worth ₹7,150 crore. Afcons did not respond to ET's queries.

Investors looking to wager on Initial Public Offerings (IPOs) to make a quick buck may be better off selling the newly- acquired shares in the issue soon after the listing. This is because the first-day pop does not ensure that such bets would continue to do well in the subsequent weeks. Of the over 100 mainboard IPOs listed on the exchanges from January 2023 till date, shares of 22 companies were locked in the highest tradable limit (upper circuit) of between 5% and 20% on the listing day, according to Samco Securities. But over half of these stocks have not been able to maintain the bullish momentum over the next one month.

Subscribe to enjoy similar stories. A major market correction is unlikely unless an unforeseen global event occurs beyond anyone’s control, according to Anuj Kapoor, MD & CEO of Private Wealth and Alternatives at JM Financial. “If investors wait for a correction beyond 5-10%, they might be left waiting for a long time," he said.

Subscribe to enjoy similar stories. NTPC Ltd’s subsidiary NTPC Green Energy seeks to raise ₹10,000 crore from its proposed public issue of fresh shares. Soon after the announcement, NTPC shares hit a lifetime high of ₹431.85 on Thursday.

IPO) of Mumbai-based non-banking financial company (NBFC) Manba Finance is set to open for public subscription on September 23 and will close on September 25. Ahead of the issue, the grey market premium (GMP) for Manba Finance was around Rs 55-60, suggesting a 46% premium over the issue price. The price band for the IPO has been fixed at Rs 114-120 a share.

IPOs set to be launched next week. These issues include two in the mainboard segment and 8 in the SME segment. The mainboard issues include that of Manba Finance and KRN Heat Exchanger, which will cumulatively raise around Rs 482 crore.

The acquisition of BCE Inc.‘s stake in Maple Leaf Sports & Entertainment for $4.7 billion this week could put Rogers Communications Inc. in position to create a standalone sports powerhouse including the Toronto Maple Leafs, Toronto Raptors and Toronto Blue Jays, which could eventually be spun out in an IPO, a move that analysts say might finally allow the company to get value recognition for the baseball franchise it has owned for nearly 25 years.

Aman Gupta said at the ET Soonicorns Summit in Bengaluru. “We are working at making some things better, working a little harder at our company. But if all goes well, the IPO will likely come next year,” Gupta said. He also said the company is set to debut in the international markets next month with a launch in UAE.

Solar Energy Corporation of India (SECI) on Friday pledged to invest 180 billion rupees ($2.16 bln) in equity for renewable capacity expansion by 2030, and announced plans to go public in the next one to two years. Large power producers in India have been investing heavily in renewables and committing to expand green energy capacities, in tandem with the government's aim to add at least 500 GW of clean energy by 2030 to reduce carbon emissions.

HDFC Bank has given its in-principle approval to take its financial services unit HDB Financial Services public through an initial public offering (IPO). Under the IPO, the fresh equity sale will be Rs 2,500 crore. There will be an offer-for-sale component, where interested existing and eligible shareholders of the company may offer to tender their equity shares.

Subscribe to enjoy similar stories. The Street is excited about NTPC Green Energy’s recent announcement of an initial public offering (IPO), but industry experts said a better track record on executing projects would have offered investors more comfort. The equity fund manager of a large mutual fund house, who did not wish to be named, told Mint, “Right now, NTPC Green is this large public entity which plans to have 60GW of renewable energy capacity by FY32.

«My sense is that things like rate cut by the US Fed will be a trigger for many of the global funds to increase their allocation to emerging markets and clearly, India being one of the best performing emerging markets would draw its share of flows, so that is clearly our base case,» says Mahesh Nandurkar, Jefferies. The general view was that Fed will cut rates and FIIs will come back. Do you see that happening now that Fed has gifted everybody with not 25 but with a 50 bps jumbo rate cut? Do you see liquidity coming back in a hurry and in abundance back to emerging markets like India? Mahesh Nandurkar: Yes, that is our base case that the rate cut undertaken by the Fed will drive incremental moneys into the emerging markets. I mean, you would remember that emerging market as an asset class over the last five years or so has been completely neglected and that is also one of the reasons why we have not seen much of foreign inflows into markets like India, despite being so attractive from growth perspective, etc.

Subscribe to enjoy similar stories. Edtech company Physics Wallah’s offline ambitions and listing plan have fetched it $210 million in funding, effectively valuing it at $2.8 billion, 2.5 times what it was worth two years ago. Physics Wallah attracted new investors in this round, including India-focused hedge fund Hornbill Capital and venture capital firm Lightspeed Venture Partners, the company said on 20 September.

Western Carriers IPO is likely to be finalised today. Investors will get shares on a lottery basis and the whole process was 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 BSE or even on the registrar's website.

initial public offerings (IPOs) — Northern Arc Capital, Western Carriers India, and Arkade Developers — that closed for subscription on Thursday received strong investor interest. Northern Arc Capital's ₹777-crore IPO was subscribed 110.91 times, attracting bids worth ₹62,553 crore. The issue received bids for 238.22 crore shares against the offered 2.14 crore shares, excluding anchor investors. The IPO, priced at ₹249-263 per share, comprised a fresh issue of ₹500 crore and an offer for sale of 1.05 crore shares.