IPO Financial News

The initial public offering (IPO) is a combination of 1.2 crore fresh issue of equity shares and an Offer For Sale (OFS) of 24 lakh equity shares by promoters — Deepak Kumar Singal and Sunita Singal, according to the Draft Red Herring Prospectus (DRHP).

₹120 per share, with a face value of ₹10. 1,200 shares make up the IPO lot size for Grill Splendour Services Ltd. According to the prospectus, the company is a chain of upscale bakeries and patisserie with 17 retail locations, a centralised manufacturing plant, and a number of corporate clients.

₹51.90 lakhs as of today. As of Monday's session, the market capitalisation stands at ₹3,603.94 crore as per BSE data.

In the unlisted market, the company's shares are trading with a GMP of Rs 20. This compares with an offer price of Rs 80 apiece.

Top Events of The Day: PM Modi is scheduled to visit Kerala. Ramdevbaba Solvent IPO price band has been set at the price of ₹80 to ₹85 apiece with a face value of ₹10 each. SC will hear Delhi CM Arvind Kejriwal's plea challenging ED arrest and remand on April 15.

Indian firms are likely to step up mergers and acquisitions (M&As) this year, with deals worth $75 billion estimated in 2024 against about $60 billion last year, said Ganeshan Murugaiyan, head, corporate coverage and advisory, BNP Paribas, India. In an interview to ET, the veteran investment banker pointed out acquisition opportunities in areas where geopolitical volatility had rendered some industries uncompetitive. Edited excerpts: The previous year was a lean one for M&A activity everywhere. What are clients saying about 2024? Last year, volumes were down almost 30-35% from what we saw in prior years. There were many factors, but if you look at 2024, the momentum is building up quite a bit. One is that clearly you have a lot of M&As within India. When I say domestic, a big component which has got added now is private equity. In a lot of assets, controlling stake by private equity may change hands this year. In India, my guess is that M&As should be somewhere around $75 billion versus around $60 billion last year.

BENGALURU : Sachin Bansal’s latest big bet that could propel his fintech startup Navi Technologies Ltd bears some heavy-hitting buzzwords—large language model, generative artificial intelligence—but this second-time entrepreneur has opted for the tougher path. Bansal, who previously co-founded e-commerce giant Flipkart and was the original posterboy of India’s startup ecosystem, is building most of the technology stack for Navi in-house. These include LLM apps, chatbots, a lending management system, and an app platform to speedily launch new products and services.

market valuation of seven out of the ten most valued companies surged by ₹59,404.85 crore during the holiday-shortened last week, with Bharti Airtel and ICICI Bank emerging as the biggest gainers, PTI reported. In the ranking of top-10 firms, Reliance Industries (RIL) maintained its position as the most valued company, followed by Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India (SBI), Infosys, Life Insurance Corporation of India (LIC), ITC, and Hindustan Unilever (HUL). Also Read | Bitcoin tumbles nearly 8%, settling at $63,000 from March-April highs amid the Israel-Iran crisis Stock markets remained closed on Thursday, April 11, due to Eid-Ul-Fitr celebrations.

1) About Grill Splendour Services Grill Splendour is a chain of gourmet Bakery and Patisserie spread across Mumbai through 17 retail stores, a centralised production facility, and multiple corporate clients. Out of these 17 retail stores, 5 stores are running under the franchisee model (franchisee owned, and company-operated), and the rest 12 stores are owned by the company.

Vodafone Idea, which is currently heavily indebted, will also be kickstarting its ₹18,000 crore FPO next week. In the small and medium enterprise (SME) sector, Ramdevbaba Solvent and Grill Splendour Services are set to launch their IPOs for subscription. Alongside these new offerings, Dalal Street will witness the listing of Teerth Gopicon and DGC Cables and Wires.

domestic equity benchmarks settled flat last week as investors' hope for a June rate cut were dashed by higher-than-expected inflation in the US, compounded by positive US employment and manufacturing data. Escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude oil prices upward, impacting the overall market sentiment.

Mitsubishi UFJ Financial Group Inc (MUFG), the world's second-largest bank holding company, is in advanced negotiations to buy a 20% stake in HDB Financial Services (HDB), a non-banking subsidiary of HDFC Bank, at a $9-10 billion valuation, said people aware of the matter. Once finalised, the $2 billion investment will be among the largest financial services sector deals involving lenders of the two countries. It will also unlock value for parent HDFC Bank, India's largest bank by market capitalisation, which has been dealing with synergy issues following the $60 billion merger with housing loan parent company HDFC Ltd.

Neuberg Diagnostics is looking to raise $100 million by September, ahead of a planned public listing in two years, chairman GSK Velu said Friday. Neuberg, which runs a pan-India diagnostic chain, has appointed O3 Capital as the investment banker and is currently in talks with potential investors, Velu said in an interview. The Chennai-based company plans to use the fresh capital to expand its radiology business through acquisitions, he said. «Within two years, we want to list the company; we are doing the fundraise for some more M&A ramp up,» said Velu, also a serial entrepreneur having invested in eye care chain Maxivision. He is also the owner of medical equipment manufacturer Trivitron Healthcare and one of the key investors in Kaveri Hospitals. «With the proposed fundraise, we hope that our revenue will double in the next couple of years,» he added.

demat accounts in India crossed the 15 crore mark for the first time ever in March on the back of sustained bullish momentum in the Indian market. According to domestic brokerage house Motilal Oswal Financial Services, the total number of demat accounts jumped to 15.1 crores in March 2024, with new account additions surging to 31 lakhs in the previous month. The Indian benchmark Nifty rose 1.5 percent in March on the back of strong macro cues, hopes of a rate cut, continuous foreign investor inflows as well as overall positive global market trends.

₹93 to ₹98 per equity share of face value of ₹10 each. Emmforce Autotech IPO will open for subscription on Tuesday, April 23, and close on Thursday, April 25.

Also Read: Emmforce Autotech IPO: Price band, issue size, key dates, other details to know Investors can check Teerth Gopicon IPO allotment status online on IPO registrar website. Bigshare Services Private Limited is the Teerth Gopicon IPO registrar. Here are five simple steps to check Teerth Gopicon IPO allotment status online through the IPO registrar’s portal.

₹50 for each, with a face value of ₹10. Three thousand shares are included in each IPO lot. Five times the face value is the issue price.

MUFG) is buying a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank at a $9-10 billion valuation, ahead of its proposed IPO, said people aware. The final decision is likely to take place next week at the HDFC Bank board meeting, said people in the know. Once announced this will be among the largest deal in the shadow banking space in India. HDFC Bank owns around 95% of the shadow bank and employees own 5% as ESOPs. The discussions have been ongoing for years but gathered momentum in the last few weeks. The deal is being done at 5 times book value.

₹755 per share, 32.5% higher than the issue price of ₹570. On BSE, Bharti Hexacom share price today opened at ₹755.20 apiece, up 32.49% than the issue price.

Bharti Hexacom IPO: The listing date of the initial public offering (IPO) of Bharti Hexacom Limited has been fixed on 12th April 2024 i.e. today. The mainboard IPO will list on BSE and NSE in the ‘B’ group of securities, the BSE notice says.

PM Modi scheduled to address an election rally at Modi Stadium in Udhampur on April 12: Ahead of the upcoming Lok Sabha 2024 elections, the Bharatiya Janata Party (BJP) is gearing up for a series of high-profile political rallies in this region. Ravinder Raina, the BJP's Jammu and Kashmir chief, revealed that the party has mobilised its cadre for Uttar Pradesh Chief Minister Yogi Adityanath's rally on Wednesday, April 12, in Kathua.