IPO Financial News

initial public offering for its Cainiao logistics arm, shelving a much-anticipated debut that could have raised more than $1 billion. China’s e-commerce pioneer decided to postpone the transaction because of poor market conditions, people familiar with the matter said. It lost its taste for the deal this year as stocks waned, the people said, asking to remain anonymous discussing a private matter.

Alibaba Group Holding on Tuesday said it had scrapped plans to list its logistics unit Cainiao in Hong Kong, as it looks to prioritize growing its e-commerce business while facing challenging IPO market conditions

₹542 to ₹570 per equity share of face value of ₹5 each. The issue will open for subscription on Wednesday, April 3 and will close on Friday, April 5.

Alibaba Group said on Tuesday its logistics unit, Cainiao Smart Logistics Network, has withdrawn its initial public offering and listing application on the Hong Kong Stock Exchange. Alibaba, which holds around 64% stake in Cainiao, said it is offering to acquire the remaining stock for up to $3.75 billion.

About 76 companies accessed the public markets in FY24, raising nearly Rs 62,000 crore through mainboard IPOs. This is 19% higher than the Rs 52,116 crore mobilized by 37 companies in 2022-23, according to primedatabase.com.

Also Read | Carlyle's Head of Direct Lending Aren LeeKong Is Leaving the Firm The sources, who requested anonymity due to the sensitive nature of the discussions, reveal that Carlyle is engaging with potential underwriters to prepare for an IPO later this year or in 2025. If successful, the share sale could value Hexaware, an Indian information technology and business process outsourcing services provider, at a remarkable $4 billion or more, the report added.

Rategain Travel Technologies jumped by another 3% in today's intraday trade, reaching ₹788 apiece. Today's rise in the shares follows the company's announcement of a strategic collaboration between its AI-powered airline pricing solution, AirGain, and Summerwind GSA, a distinguished General Sales Agent (GSA) known for its innovative approach to airline representation.

BSE data. The qualified institutional buyers (QIBs) portion is yet to be booked.

GConnect Logitech IPO: The initial public offering (IPO) of GConnect Logitech and Supply Chain Limited has hit the Indian primary market today. It will remain open till 28th March 2024. The company has fixed the GConnect Logitech IPO price band at ₹40 apiece.

SRM Contractors IPO: The initial public offering (IPO) of SRM Contractors Limited has hit the Indian primary market today. The public issue will remain open till 28th March 2024. The construction company has fixed SRM Contractors IPO price band at ₹200 to ₹210 per equity share.

(Reuters) -Adam Neumann has submitted a bid of more than $500 million to buy back WeWork, the office-sharing company he co-founded and propelled to a $47 billion valuation before it fell into bankruptcy, a person familiar with the matter told Reuters.

Read here. Shiv Sena (UBT) leader Sanjay Raut announced on Monday that the party's initial candidate lineup for the upcoming Lok Sabha elections in Maharashtra will be officially disclosed on March 26. The list, representing the opposition party led by Uddhav Thackeray and a member of the Maha Vikas Aghadi (MVA) coalition in the state, is expected to include around 16 names.

Edited excerpts: This year is looking quite good. We got off to a good start with an mergers and acquisitions (M&A) announcement, the Lodha qualified institutional placement (QIP) and British American Tobacco Plc (BAT) sell down in ITC. We also have a couple of initial public offerings (IPOs) which are filed out there.

With Reddit options able to be traded from today, it has sparked discussions about the potential resurgence of investor appetite for loss-making companies. So far this year, we have seen a trend of retail investors showing a slightly increased interest in high-risk, high-reward investments once again.

With Reddit options able to be traded from today, it has sparked discussions about the potential resurgence of investor appetite for loss-making companies. So far this year, we have seen a trend of retail investors showing a slightly increased interest in high-risk, high-reward investments once again.

Also Read: Explained | Upside risk on inflation to export woes—here's how the Red Sea crisis will impact Indian economy in FY25 Among the top performers in the SME category entered in March, Owais Metal and Mineral Processing leads the pack, currently trading at ₹407 per share, marking a remarkable 368% increase from its IPO price of ₹87. Following closely are Purv Flexipack, Signoria Creation, and Royal Sense, all recording gains ranging from 65% to 125% from their respective issue prices. Conversely, MVK Agro Food Product emerged as the top underperformer, trading 52% below its IPO price of ₹79 per share.

The South Korean exchange Bithumb is looking to step up its IPO plans – and could look to launch a fast-tracked initial public offering as the crypto bull market continues.

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IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) will undergo a special audit to further probe their regulatory breaches, as the RBI has initiated the process for the appointment of auditors. The Reserve Bank of India (RBI) has floated two separate tenders for the appointment of auditors for special audit of these two companies. Audit firms empanelled by the Securities and Exchange Board of India for forensic audit can participate in the tendering process, and the last date for submission of bids is April 8, as per the tender document published by the RBI. The selected firms will be awarded work on April 12, as per the bid documents. Earlier this month, the RBI put a curb on these two entities for non-compliance of regulatory guidelines.

Something analogous is happening in the world of non-banking financial services. In less than five weeks, RBI shut down Paytm Payments Bank, served Visa a cease-and-desist order with regard to card-based vendor payments and P2P transactions, prohibited IIFL Finance from sanctioning new gold loans, and debarred JM Financial from providing finance against shares and debentures, and for new IPOs. Had this been all, one could have excused this as a specific set of actions against a small number of significant players. But the central bank has subsequently also carried out a plethora of audits targeting fintechs that disburse small-ticket personal loans. The stated reason: exuberant unsecured loan growth.