IPO Financial News

IPO) of Emcure Pharmaceuticals, which opened earlier today, was booked 66% so far, driven by hefty demand from non-institutional investors. The issue, which closes on July 5, was subscribed 83% in the retail category and 1.07 times in the NII portion. Meanwhile, there were no bids yet in the QIB category.

Vinit Bolinjkar, Head of Equity Research, Ventura Securities, says he is constructive on Shalby Hospitals and thinks the stock can touch Rs 500 in the next couple of years. The second stock he likes is NTPC and says the NTPC green IPO should lead to a significant re-rating of the stock. He also expects a 50% upside on Senco Gold. He is also gung-ho on Wockhardt where he expects outsized disproportionate returns given that the company is coming out with a new molecule which, once it goes into commercial production, may see the stock double. Now that TCS has kick-started the earning season, what do you make of this quarter that has gone by? We did have some headwinds coming by. There was a heatwave, elections and so lots were happening in this quarter. Give us a generic view and also your specific view on what IT companies are expected to do and how their numbers are expected to look given TCS has come out with a stellar set of numbers. Vinit Bolinjkar: TCS and Tata Elxsi numbers are slightly lower than those reported in the previous quarters, but the growth trajectory that both the companies have guided for is resoundingly strong and the pipeline also seems to be improving and getting better.

IPO of Emcure Pharmaceuticals, the shares of the company are commanding a healthy premium of Rs 360 in the unlisted market. Considering the upper price band of Rs 960, the stock is expected to list at a premium of 37% if the current trends sustain. The company has finalised the share allotment today and listing date is fixed as July 10.

Jio Infocomm taking the lead in raising mobile tariffs and moving to monetise its 5G business could be an indication of the telecom market leader readying for an initial public offering that could be India's largest, analysts said. Some of them expect an IPO as soon as early next year. Analysts and industry executives expect clarity on Jio's big-bang IPO at parent Reliance Industries Ltd's annual general meeting, likely next month.

IPO) of Emcure Pharmaceuticals will open for subscription today. Ahead of the issue opening, the company raised Rs 582 crore from anchor investors. Marquee investors who participated in the anchor round include HDFC MF, ICICI Pru MF, SBI MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, HDFC Life among others.

The Indian stock markets had yet another excellent week for the bulls, with the benchmark index maintaining its winning streak for the fifth consecutive week aided by broader participation along with positive global sentiment, Osho Krishan, Senior Analyst — Technical & Derivatives at Angel One said.

SME IPO of Ganesh Green Bharat, which closed on Tuesday, received strong response from investors across categories. The company is likely to finalise the share allotment process later today or tomorrow. Investors can check the status of Ganesh Green Bharat IPO allotment by logging in to the official website of the registrar, which is Link Intime India in this case. Follow the step by step process mentioned below to check the status of allotment.

Niva Bupa Health Insurance has filed the draft red herring prospectus (DRHP) to raise ₹3,000 crore through an initial public offering (IPO). The standalone health insurance firm will be the second health insurer listed on Indian stock exchanges, following Star Health and Allied Insurance. The IPO will include a fresh issue of shares to raise ₹800 crore for improving solvency ratio and operating expenses, and an offer for sale by existing shareholders, British United Provident Fund Bupa and Fettle Tone LLP, amounting to ₹2,200 crore. According to draft papers, the health insurance company is considering a pre-IPO placement of up to ₹160 crore, which would reduce the size of the fresh issue. The company plans to allocate 75% of the net offer to qualified institutional buyers, 15% to non-institutional bidders, and 10% to retail investors.

Reliance, while Investec and Morgan Stanley have a 'buy' and 'overweight' call on M&M, respectively. Axis Capital has downgraded ICICI Bank to 'add' from 'buy', while Ambuja Cements received a double upgrade from Nomura. Morgan Stanley has maintained an 'overweight' call on IndiGo. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

SME IPO of Ganesh Green Bharat will open for subscription today and will close on June 24. The company aims to raise about Rs 125 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. 1) About Ganesh Green Bharat

IPO) of Bansal Wire sailed through on the first day of the bidding process, driven by robust interest from retail and non-institutional investors. Both NII and retail categories were fully subscribed, while the QIB portion lagged with no bids. The public offer is being conducted via the book-building process, with approximately 50% of the issue reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Star Health firm on profitability path amid rising competition In the two years to FY24, Niva Bupa clocked a CAGR of 47% in NEP compared to 15% for Star Health. Its claims ratio (indicating NEP spent on paying claims) stood at 59% in FY24 against 66% for Star Health. In fact, Niva Bupa’s claims ratio was the lowest in the industry.

Dipan Mehta, Director, Elixir Equities, says the question that everybody on the Street will ask the IT company is how big is this AI opportunity. Is it for real? Is it going to translate into double-digit growth rates for the next four to five years for IT companies? If we get a positive response over there, then IT will take a leadership position. The first few results will immediately set the tone for the entire sector. All the Maruti magic yesterday pilfered through the entire auto pack as well. But how much more of a material gain do you think Maruti can get out of this UP discount registration now for hybrid cars? Dipan Mehta: It is not just the actual material benefit that may or may not take place, but it is a signal to the other states as well that this is something which they can implement to reduce pollution and give encouragement to cleaner vehicles and that has what has driven the sentiment up in Maruti. If other states also follow suit, then certainly Maruti will have a phenomenal edge over its competition, because the best hybrid cars, the most popular ones are the ones which Maruti is producing.

Mint for a new podcast series called Founder Diaries, where we take you through the entrepreneurial journeys of some of India’s most high-profile founders, and a peek into what it takes to build successful enterprises. Edited excerpts: I was the first entrepreneur from my family. Business was not seen as a very good thing to do.

SME IPO of Effwa Infra and Research will open for subscription today and close on July 9. The company aims to raise about Rs 51.27 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. 1) About Effwa Infra and Research

IPO activity post the general election in June, the primary market will take a breather next week with no new issues in the mainboard segment. However, there is an SME IPO of Sahaj Solar, the only one, set to open on June 11. Despite a brief pause, analysts said India's robust economic foundation and bright growth prospects made it an excellent time for the country's thriving IPO market.

SME IPO of Prizor Viztech opened for subscription earlier today and will close on July 16. The company aims to raise about Rs 25 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. 1) Prizor Viztech IPO size

investor responses and delivering significant returns following substantial listing gains. About 38 IPOs have taken place so far in 2024 with an average listing gain of 25% and average returns after debuting at 49% till date. Four stocks — Jyoti CNC Automation, Exicom Tele-Systems, JNK India and TBO Tek — have delivered returns of 100-300% over the offer price. Eight — including Bharti Hexacom, Le Travenues Technology, BLS E-Services, DEE Development Engineers and Vibhor Steel Tubes — rallied between 57% and 92%. Another 18 gained between 8% and 44%, with only eight stocks trading below their offer price.

BEIJING — The market for initial public offerings in Hong Kong is set to improve significantly over the next five years, starting in the second half of this year, George Chan, global IPO leader at EY, told CNBC in an interview Wednesday.

Mint analysis of data, sourced from primedatabase.com for 281 SME IPOs listed on NSE since 2021, revealed that around 43% of these small businesses saw healthy gains on the listing day, with their closing prices up to 40% higher than the offer prices. Around a quarter of these firms saw gains between 40% and 90%, and nearly 20% soared over 90%. A strong investor appetite fuelled these gians.

Shein from selling products on its own app as part of a larger crackdown on Chinese apps following escalated border conflicts between the two countries. Now, Shein has found a safe route to India: Mukesh Ambani's Reliance Retail Ventures, which will launch the Chinese fast-fashion label in the coming few weeks, ET has reported based on information from sources. Ambani's company will sell Shein's products on its app as well as offline stores owned and operated by Reliance Retail. It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.