IPO Financial News

Durlax Top Surface IPO: The initial public offering (IPO) of Durlax Top Surface Limited is going to hit the Indian primary market on 19th June 2024, i.e. on Wednesday this week.

₹132 crore initial public offering (IPO) on D-Street next week, with the subscription period running from June 19 to June 21. The company has set the price band for the issue at ₹114-120 per share.Also, the anchor investor bidding date had been set for Tuesday, June 18.Issue size: Akme Fintrade IPO is completely comprised a fresh issue of 1.1 crore shares.

market is likely to see a renewed wave of IPO rush in the next three to four months with the general elections out the way. Data and multiple reports suggest that over 30 companies are ready to hit the market in the few months, aiming to raise over Rs 50,000 crore. Analysts said there are as many as 24 companies planning to launch IPOs worth Rs 30,000 crore.

₹10 crore from the IPO and has announced the price band and other details of the IPO.Medicamen Organics IPO price band has been set at ₹32 to ₹34 per share. At the upper-end of the price band the Medicamen Organics IPO size is ₹10.54 crore, consisting of a fresh issue of 31 lakh equity shares.The IPO lot size is 4,000 shares and the minimum investment amount required by retail investors is ₹136,000.Medicamen Organics IPO is an SME IPO which opens for subscription on Friday, June 21, and closes on Tuesday, June 25.

Upcoming IPOs this week: Three mainboard initial public offerings (IPOs) — DEE Development Engineers IPO, Stanley Lifestyles IPO, and Akme Fintrade India IPO — will hit the Indian primary market this week. Out of these three upcoming IPOs, DEE Development Engineers IPO will be the first to hit the Indian primary market this week. DEE Development Engineers IPO will open on 19th June 2024, Stanley Lifestyles IPO subscription will open on 21st June 2024, and bidding for Akme Fintrade India IPO will begin on 19th June 2024.

₹1.5 trillion, the asking P-E is 25.6," said Aditya Kondawar, partner, Complete Circle Capital, a wealth management firm. “The IPO will be critical for both investors and the company, since India is Hyundai’s third-largest revenue generator after the US and South Korea," Kondawar added. Hyundai Motor’s IPO, the largest in India after Life Insurance Corporation of India’s ₹20,000 crore-plus share sale in 2022, will be the country’s first automobile IPO in two decades.

ixigo IPO: The listing date of the initial public offering (IPO) of 'ixigo' brand parent company Le Travenues Technology Limited, a pivotal moment for investors, has been set for 18th June 2024. This date, as per the information available on the Indian stock market exchanges, has been strategically chosen for the listing of ixigo IPO.

₹29 in the grey market premium (GMP), as per investorgain.com. This indicates that Ixigo's equity shares are trading ₹29 higher than their issue price of ₹93 per share in the grey market.Also read: ixigo IPO allotment status out.

Le Travenues Technology, which operates the travel platform Ixigo, will debut on the exchanges on Tuesday, June 18. Ahead of the listing, the company's shares are trading with a premium of Rs 29-30 in the unlisted market. If the current trends are sustained, the company's shares are expected to list with a premium of 32%. The IPO was priced at Rs 93 at the upper end.

₹85,582.21 crore in market valuation, driven by a positive trend in equities, with Life Insurance Corporation of India (LIC) leading the gains.During the period, the BSE benchmark Sensex rose by 299.41 points or 0.39 per cent, reaching an all-time high of 77,145.46 on June 13.Among the gainers were Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India, and LIC, while Tata Consultancy Services (TCS), ICICI Bank, Infosys, Hindustan Unilever, and ITC saw declines in their market valuations.

IIFL Securities Limited has made a significant move to enhance employee engagement by granting 3,69,500 stock options to its identified employees under the ‘IIFL Securities Employee Stock Option Scheme - 2018’ (IIFL ESOS Scheme-2018), on June 14, 2024. The company's Nomination and Remuneration Committee (NRC) approved this grant through a circular resolution, demonstrating a strong commitment to retaining and motivating its workforce, as per an exchange filing.Also Read | Darshan case: Renukaswamy sustained 15 grievous injuries, head forcefully rammed into a vehicle | What we know so farThe stocks of IIFL Securities closed in gree, up 0.71 per cent on June 14, at ₹221.05 on BSE.

₹740.10 crore at the upper price band, received healthy response from investors.Around 24 companies are in-line to hit the primary market in the next few months to collectively raise over ₹30,000 crore from IPOs, according to Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.

Also Read: Nifty 50 to hit 25,816 in 12 months; PL overweight on banks, auto, telecom: ITC, BEML among high conviction picksOn a weekly basis, the BSE benchmark climbed 299.41 points or 0.39 per cent, while the Nifty advanced 175.45 points or 0.75 per cent. The benchmark index's tone was subdued from start to finish, resulting in modest gains for both indices. Sectoral buying and traction in select themes kept traders engaged.

₹325 crore and an Offer-for-Sale (OFS) of 65.27 lakh equity shares by promoters and an investor according to the draft red herring prospectus (DRHP).Private equity firm Mandala Capital AG Ltd is offloading 49.27 lakh shares through the OFS route.Proceeds from the fresh issue to the tune of ₹240 crore will be used for debt payment and the remaining amount for general corporate purposes.The Maharashtra-based Godavari Biorefineries is one of the prominent manufacturers of ethanol-based chemicals in India.The company's diversified product portfolio comprises bio-based chemicals, sugar, different grades of ethanol and power. These products find application in a range of industries such as food, beverages, pharmaceuticals, flavours & fragrances, power, fuel, personal care and cosmetics.According to Frost & Sullivan Report, the bio-based chemicals market has been growing exponentially owing to the increasing need for environmentally sustainable solutions.

IPO) of Bengaluru-based Stanley Lifestyles will open for subscription on June 21. The company has set a price band of ₹351-369 apiece for the share sale, which closes on June 25. Investors can subscribe for a minimum of 40 equity shares and multiples thereafter. The offer consists of a fresh issue of ₹200 crore and an offer for sale of up to 9,130,000 shares worth ₹337 crore by existing shareholders. Sunil Suresh and Shubha Sunil, promoters of Stanley, will sell 1.18 million shares each in the OFS portion of the IPO. Investor Oman India Joint Investment Fund II will also divest 5,545,000 shares in the IPO.

₹65 to ₹68 per share of face value of ₹10 each. The SME (Small and Medium enterprises) will open for subscription for investors on Wednesday, 19 June 2024.The subscription period for the Durlax Top Surface IPO begins on June 19, 2024, and ends on June 21, 2024.

₹114 to ₹120 apiece of face value of ₹10 each. The Reserve Bank of India (RBI) registered NBFC will kick-start its subscriptions from Wednesday, June 19, and conclude on Friday, June 21.

Bajaj Finance Limited and Bajaj Finserv Limited, filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering last week on June 7. Bajaj Housing Finance is a non-deposit housing finance company that has been involved in mortgage lending from fiscal 2018.The public offering comprises a fresh share issuance at ₹4,000 crore.

Also Read: ixigo IPO allotment status out. Latest GMP, how to check application status for Le Travenues Technology sharesLet us check GP Eco Solutions IPO GMP, subscription status and other key details of the SME IPO.GP Eco Solutions IPO has been subscribed 30.44 times in total so far on June 14, the first day of the bidding process.

initial public offering (IPO) will open on Friday, June 21, with a price band of Rs 351-369 per share and the lot size will be 40 equity shares. The company intends to raise Rs 537 crore from the offering and aims to be listed on the NSE and BSE platforms. The fixed-price IPO will comprise a fresh issue aggregating up to Rs 200 crore along with an offer for sale (OFS) of 91.34 lakh equity shares by the existing shareholders with a face value of Rs 2.

Suven Pharmaceuticals share price gained more than 5% in the morning trades on Friday post its announcement regarding acquisition of Hyderabad based CDMO firm Sapala Organics on Thursday post market hours.Suven Pharma share price that opened at ₹695.00, higher than previous close of ₹667.95, gained further more to ₹705 levels in the NSE, marking gains of more than 5%.Suven Pharmaceuticals announcement on the exchanges said that that it has executed definitive agreements on June 13, 2024, for acquiring 100% of equity shares (on a fully diluted basis) in Sapala Organics Private Limited.Also Read- Kotak Institutional raises target price for Adani Ports and SEZ to ₹1,650, says outperformance can continue for longThe Hyderabad based Sapala Organics is contract development and manufacturing organizations (CDMO) that is focused on Oligo drugs and nucleic acid building blocks including Phosphoramidites & Nucleosides, drug delivery compounds (including GalNAc), Pseudouridine, amongst others.Suven Pharmaceuticals in its presentation highlighted that Sapala Organics sales stood at ₹67 Crore with more than 45% Ebitda margins in FY24. Ebitda stands for Earnings before, Interest, Tax, Depreciation and amortisation.Sapala Organics has a customer-base across the US, European Union and Japan; partnering on their New Chemical Entity (NCE) programs across project lifecycle.