IPO Financial News

By Jonathan Stempel

Manba Finance, an NBFC-BL providing financial solutions for auto loans, used cars, small business loans, filed a draft red herring prospectus with Sebi for an IPO. The IPO is completely a fresh equity issue of 1.25 crore shares with no offer for sale (OFS) segment.

BSE data. Non-institutional investors (NII), which was booked at 43%, and retail investors, which were booked at 34%, led the day 1 numbers.

₹680 to ₹715 for each equity share with a face value of ₹10. Bids can be placed for multiples of 20 shares, or at least 20 shares.

₹10 for each equity share, the Manba Finance IPO is a completely fresh issue of up to 1.26 crore equity shares that does not include an offer of sale (OFS) component. Also Read: Shivalic Power Control files DRHP for IPO with NSE Emerge The proceeds from the fresh offering will be allocated to broadening the capital base in order to cover the company's future capital needs for further lending and general business objectives.

Stock market today: Gopal Snacks shares today listed on the Indian exchanges at a discount of nearly 12.50 percent. However, the newly listed stock went further down and touched an intraday low of ₹341.80 apiece on the NSE and ₹342 on the BSE. However, Gopal Snacks share price witnessed buying interest at the lower levels, which triggered a strong bounce-back in the newly listed stock.

Gopal Snacks, the manufacturer of popular snack items, made another disappointing debut on the exchanges on Thursday. For context, three out of the last four D-Street debuts have been in the negative and even the positive debut of Bharat Highways was just 3% above the offer price.

BSE data. The retail investors portion has been subscribed 94%, Non Institutional Investors (NII) portion has been booked 27%, and Qualified Institutional Buyers (QIB) portion is booked 1.14 times .

₹53 to ₹56 per equity share of face value of ₹10 each. Chatha Foods IPO will open for subscription on Tuesday, March 19, and close on Thursday, March 21.

Krystal Integrated Services IPO: The initial public offering (IPO) of Krystal Integrated Services Limited has hit the Indian primary market today. The public issue will remain open for bidders till 18th March 2024. The facilities management services company has fixed Krystal Integrated Services IPO price at ₹680 to ₹715 per equity share.

₹75 apiece on the BSE, a premium of 36.36% to the issue price of ₹55 per share. Koura Fine Diamond Jewelry Ltd is a wholesaler of gold and diamond jewelry and offers 22 Karat Gold and 18 Karat Diamond jewellery. The company recently concluded its initial public offer (IPO) through which it raised ₹5.50 crore from the primary markets.

Stock market today: Despite weakness in the Indian stock market, Shree Karni Fabcom share price today listed on the NSE EME Emerge platform at ₹260 apiece, delivering around 14.53 percent listing gain to the share allottees against the issue price of ₹220 to ₹227 per equity share. However, the NSE SME stock didn't stop here only. The SME stock further extended its listing gains and went on to touch an intraday high of ₹273 apiece, locking-in a 5 percent upper circuit within a few minutes of the share listing.

₹351 per share, 12.47% lower than the issue price of ₹401. On BSE, Gopal Snacks share price today opened at ₹350 apiece, down 12.72% than the issue price.

“While the Nifty has hit its fair value zone on a fundamental basis, behavioral indicators indicate a bullish sentiment, suggesting further potential for market rallies,” says Nimesh Chandan, CIO, Bajaj Finserv AMC. In an interview with ETMarkets, Chandan who has over 22 years of experience in capital markets said: “Rather than narrowing the selection to one ratio (dividend yield), one can focus on companies trading below their intrinsic value. One finds many of the quality compounders in this category,” Edited excerpts: We have hit record highs in March – what do you see markets headed? Nimesh Chandan: India is outperforming both emerging and developed markets in economic growth, macro stability, earnings growth, and political stability. The Nifty earnings have reached record levels, fueling a bullish market trend.

Krystal Integrated Services will open for subscription today. The issue consists of fresh equity sale worth Rs 175 crore and an offer for sale (OFS) of Rs 125 crore. Ahead of the IPO opening, the company has raised Rs 90.04 crore from 10 anchor investors including BofA Securities, Aegis Investment Fund, PCC, Saint Capital Fund among others.

Crisil Ratings has said that the Reserve Bank of India's regulatory measures will directly impact JM Financial Products' business in IPO financing and lending against shares, while restrictions placed on IIFL Finance will reduce its overall assets under management. CareEdge, Crisil, and ICRA Ratings have placed IIFL Finance under rating watch following the RBI ban on giving new gold loans. Neither of the rating companies has revised the ratings of both finance companies.

By Echo Wang

AVP Infracon IPO price band set at ₹71-75 per share; check issue dates, other key details of SME IPO The AVP Infracon IPO was subscribed over 0.82 times on the first day of bidding on March 13. The SME IPO received 41,74,400 applications against offered 51,08,800 applications. The retail category received 35,93,600 shares, meanwhile, NII received 5,80,800 shares.

₹90.04 crore from anchor investors, a day before its initial public offerings (IPO) opens for subscription. According to an exchange filing, Krystal Integrated Services allocated 12,59,265 shares at ₹715 per share to 10 anchor investors.

IPO). NSE Emerge is a separate bourse of the National Stock Exchange targeted at small and medium enterprises only to tap the capital market. The RGL said the IPO will consist of a fresh issue of 38 lakh equity shares, each with a face value of Rs 10.

Also Read: Demat Account: What are the tax implications of transactions? Now, when it comes to applying for an IPO, there are a few ways to do it, but the most popular way is through a demat account, primarily using the UPI method. This account is mandatory if one wishes to apply for an IPO, and it is also the simplest and least complicated method. So, a majority of retail investors choose to go this way when they're looking to invest in an IPO.