IPO Financial News

Nifty managed to end with 1% gains in the holiday-shortened week, led by IT and consumer durables. When markets resume trading on Monday, a host of important domestic and global events lined-up during the holiday-truncated week are likely to impact them. On Friday, Nifty ended with an uptick of 400 points or 1.7% at 24,541.

New-age stocks have made a strong comeback of late driven by robust revenue growth and improved profitability through reduced spending. Increased allocations by overseas funds and strong demand for recent public issues have further fuelled the rally. Analysts believe these stocks could continue to perform well so long as they sustain their growth momentum. The ET E-commerce Index, comprising 13 new-age companies, has surged 45% in the past six months, outperforming the 12% gain in the Nifty Index and the 8% rise in the Nifty IT Index.

In Pershing Square Holding's (PSH) interim results published on Thursday (15 August), he said that since pulling the offer, the trust's discount has widened, after «substantially» narrowing during the IPO offer period. Although he did not provide any further details on the plans to revamp the US IPO, Ackman said the team is «limited in what we can share about these plans due to regulatory reasons», but will keep shareholders informed about the number of «strategic initiatives». Ackman's US IPO withdrawal casts doubt on lower performance fees for Pershing Square Holdings The launch ...

Logistics firm Ecom Express has filed draft papers with the market regulator for an initial public issue of shares worth nearly Rs 2,600 crore. The offer will comprise fresh shares worth Rs 1,284 crore and another Rs 1,315 crore in an offer for sale (OFS) by existing investors, the company informed the Securities and Exchange Board of India in its draft red herring prospectus (DRHP). If it gets the regulatory approval and goes ahead with the IPO, Ecom Express will become the second new-age logistics firm focused on online deliveries to be listed on the Indian public bourses, after Delhivery that listed in May 2022.

Orient Technologies has announced a price band of Rs 195-206 for its IPO, which will open for subscription on August 21 and close on August 23. The company plans to raise Rs 215 crore through the IPO, which includes a fresh equity sale of Rs 120 crore and an offer for sale (OFS) of 46 lakh shares.

Ola Electric, Unicommerce, and First Cry have significantly enriched their investors, reflecting strong market interest and confidence in these companies. These successful public offerings highlight the potential of homegrown businesses in India, suggesting that the market is eager for more such opportunities. Nithin Kamath, the founder of Zerodha, acknowledged the success of these IPOs and emphasized the need for more Indian companies to follow suit. He noted that the success of these IPOs could serve as an incentive for other companies to consider going public, which would, in turn, attract more retail and institutional investors. Kamath pointed out that a steady flow of new securities is essential for the growth of the market, particularly as domestic investment continues to increase. His comments were met with a wave of responses from the public, many of whom urged Zerodha to consider its own IPO. People questioned whether Kamath would lead by example and bring Zerodha to the stock market.

real estate developer Kalpataru has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Thursday to raise ₹1,590 crore through an initial public offering (IPO). The IPO will be a fresh issue of shares with no offer for sale from existing investors. The company plans to use the net proceeds to repay certain borrowings by it and subsidiaries and general corporate purposes.

MUMBAI : In the midst of covid lockdowns a few top executives of ChrysCapital, a private equity firm headquartered in New Delhi, decided to make a trip to Pune. That city about 150 km to Mumbai’s south is home to an unassuming entrepreneur who over the past decade and half has founded three startup unicorns. That includes Brainbees Solutions Pvt.

Financial technology firm Klarna is pushing deeper into banking with its own checking account-like product and a cashback offering that rewards users for shopping via its app.

Kalpataru has filed its Draft Red Herring Prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India to raise funds via the initial public offering (IPO) route. The IPO will be a fresh issue of Rs 1,590 crore, with each share bearing a face value of Rs 10.

The share allotment of Saraswati Saree Depot IPO is likely to be finalised tomorrow. 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.

Interarch Building Products will open for subscription on August 19. The issue closes on August 21. Through the public offer, the company plans to raise around Rs 600 crore. Here are 10 things to know about the Interarch Building Products IPO before subscribing to the issue. 1) What is the business overview of Interarch Building Products?

Siddhartha Khemka, Head-Retail Research, MOFSL, says there is very strong liquidity from the domestic flows – be it the DIIs, HNIs, retail investors and that is what we are also seeing in some of the IPOs that have come out. We would also see the appetite from the institutional side, both domestic and foreign, for the bulk of OFS or blogs that promoters or PE funds have sold. There is a humongous demand for some of these papers. That only shows that the appetite for the right quality of company and the right business is pretty strong in the market. Why are we seeing so much of strength? Everybody is saying valuations are expensive, valuations are stretched, do not invest, save, do not invest, sit on cash, but markets are not coming down. Siddhartha Khemka: If you look at the markets, yes, definitely a case of strong liquidity is supporting the sentiments and the indices as well. But what is also supporting so far has been the strong macros that have withstood the global headwinds and that continues to be the case which kind of makes a positive case going forward as well.

Saraswati Saree Depot is getting robust response from investors as the issue was subscribed nearly 47 times so far on the third day of the bidding process. The issue will close on Wednesday. The category reserved for non-institutional investors was subscribed the most at 201 times, followed by retail investors at 41 times and qualified institutional buyers (QIB) at 4.21 times.

listing gains snagged by SoftBank’s India portfolio firms Ola Electric, FirstCry and Unicommerce are the result of sensible initial public offering (IPO) pricing, favourable macroeconomic conditions and the growing acceptance of technology firms by the capital markets, said Sumer Juneja, managing partner for India and EMEA at SoftBank. In an interview to ET on Tuesday, he said that the active participation of domestic mutual funds has helped shore up demand for these public offerings. It’s not true that these new-age IPO are gaining only because of the continuing bull run in the stock markets, he added. The Masayoshi Son-led Japanese group’s cumulative holdings across the three recently listed companies stand at about $2 billion following their market debut. SoftBank had pumped $400 million into FirstCry, which listed at a premium of 40% to its issue price of Rs 465 per share.

Ola Electric, FirstCry and Unicommerce, which went public this month, have boosted the worth of Japanese technology investor SoftBank’s stakes in these companies to almost Rs 16,000 crore, or nearly $2 billion, based on the latest stock prices of these three companies. SoftBank has already realised around $400 million, or around Rs 3,300 crore (at current exchange rates), from secondary stake sales in the three companies. SoftBank had invested more than Rs 4,100 crore in FirstCry, which listed at a premium of 40% on the National Stock Exchange (NSE) Tuesday to the issue price of Rs 465 apiece.

Brainbees Solutions, which operates and owns FirstCry, jumped over 13% to Rs 707 following their strong debut on the exchanges on Tuesday. The stock debuted at Rs 625 on the BSE, reflecting a premium of Rs 160 or 34% over the IPO price of Rs 465. On the NSE, it is listed at Rs 651, reflecting a 40% premium. The listing was above expectations, with shares previously trading at a grey market premium (GMP) of 18% to the issue price.

Unicommerce eSolutions made a spectacular debut on the exchanges on Tuesday, listing at Rs 235 per share, which is a staggering 117% premium over its issue price. This blockbuster performance far exceeded pre-listing expectations, fueled by the massive oversubscription of 168.35 times and a robust grey market premium (GMP).

Interarch Building Products has announced a price band of Rs 850-900 for its upcoming Rs 1,186.11 crore initial public offering (IPO), which will open on August 19 and close on August 21. The IPO consists of a fresh issue of shares worth Rs 200 crore and an offer for sale (OFS) of up to 44.48 lakh with a face value of Rs 10 each share. At the upper price band of Rs 900, the OFS would be worth about Rs 400.28 crore.

FirstCry, will debut on the exchanges on Tuesday. Ahead of the listing, the company's shares are trading at a GMP of Rs 84 in the unlisted market. Considering the upper price band of Rs 549, the stock is expected to list at a premium of 18% to the issue price.

Saraswati Saree Depot, which opened for subscription earlier today, sailed through within hours of opening. The subscription for the IPO, which closes on August 14, stood at 2.46 times so far on Day 1. The issue was fully subscribed in all the categories, but retail and non-institutional investors led the bidding. The retail portion of the IPO was booked 3.34 times and the NII part was subscribed 5.06 times.