Karnataka HC rejects NCLT stay on Byju's second rights issue, sends case back to tribunal
On June 12, NCLT instructed Byju's to maintain the status quo regarding existing shareholders and their shareholding. Byju’s had appealed against the order in the High Court. Key Points
Business TodayAllied Blenders and Distillers shares list at 14% premium over issue price
Allied Blenders, post IPO debut, saw a 14% premium. The company holds 8% IMFL market share in India. Revenue grew by 9% and profit after tax by 50%. Facing financial volatility, it expanded the product portfolio with a strong brand presence. Key Points
Economic TimesTBO Tek IPO to open for subscription on May 8. Check details
TBO Tek IPO includes fresh equity of Rs 400 crore and an offer for sale of up to 1.25 crore shares. Under the OFS, promoters Gaurav Bhatnagar, Manish Dhingra, LAP Travel, and other selling shareholders TBO Korea, Augusta TBO will offload the shares. Key Points
Economic TimesByju’s lays off about 500 staffers, nearly half from tuition centre business
Layoff at Byju's has hit 500 staffers, affecting Tuition Centre operations, amidst a funding crisis. Staff face delayed salaries amid NCLT hurdles and upcoming $200-million rights issue, with assurances of arrears settlement by April 8. Key Points
Economic Times'Did nothing to safeguard Tamil Nadu's interests,' PM Modi attacks DMK on Katchatheevu issue
PM Modi's attack comes a day after Congress passed scathing comments on BJP during their rally. Comparing DMK to Congress, he said they only care that their own sons and daughters rise. Key Points
ThePrint
Byju’s rights issue offer to estranged investors; TCS kicks off fresh hiring
Byjus held an extraordinary general meeting (EGM) this morning to increase its authorised share capital. None of the participating investors objected to the proposal. Key Points
Economic TimesTrust Fintech IPO: SME issue subscribed 3.34 times on day 1; check subscription status, GMP, other details
Trust Fintech IPO: The SME issue was subscribed 3.34 times on the first day of subscription with the portion reserved for retail investors booked the highest. Key Points
mintVruddhi Engineering Works IPO: Check GMP, subscription status on day 1, other details
Vruddhi Engineering Works IPO open for subscription from March 26 to March 28 with a price band of ₹66 to ₹70 per share. The company specialises in rebar couplers for infrastructure and construction sectors. Grey market premium at ₹0 indicates shares trading at issue price of ₹70. Key Points
mint'Shall fully cooperate with SEBI': JM Financial on investigation into public debt issue
Market regulator Sebi imposed curbs on the parent company JM Financial from acting as the lead manager for any new debt public issue. It, however, ruled that it can continue as lead manager for existing debt public issue mandates for another 60 days. Key Points
Business TodayJG Chemicals IPO opens for subscription. Should you bid?
The IPO of JG Chemicals opened for subscription. It includes a fresh equity issue and an offer for sale. The proceeds will be used for investment in its material subsidiary, debt repayment, capex, working capital, and general corporate purposes. Key Points
Economic Times
Byju’s to go ahead with rights issue after NCLT defers decision on investors’ plea; but there’s a catch
India Business News: Byju’s can proceed with the rights issue after NCLT defers decision on investors’ plea, but there’s a catch. Find out more about the latest developments. Key Points
Times Of IndiaExicom Tele-Systems IPO: Should you subscribe to this Rs 429-crore offer?
The IPO is a combination of fresh equity issue worth Rs 329 crore and an offer for sale of 70.42 lakh shares. Ahead of the issue opening, the company mopped up about Rs 178 crore from anchor investors. Key Points
Economic TimesByju's issue gets $300 million commitment
India Business News: Edtech major Think & Learn, which operates under Byju's brand name, is learnt to have received a commitment of $300 million from investors for its ongoing rights issue. Byju's has offered miffed investors to appoint two independent directors to enhance transparency but only after the rights issue and declaring its financial results for FY23. Key Points
Times Of IndiaAkums Drugs files draft IPO papers with Sebi; eyes Rs 680 cr via fresh issue
The company is looking to raise Rs 136 crore through a pre-IPO placement. If such placement is undertaken, then fresh issue size will be reduced. Proceeds from the fresh issue will be used to repay debt, fund working capital requirements of the company, pursue inorganic growth initiatives through acquisition and for general corporate purposes. Key Points
Economic TimesIPO calendar: Rashi Peripherals, Park Hotels among 5 issues to raise about Rs 2,700 cr next week
Four mainboard IPOs along with one SME issue are set to be launched next week to raise as much as Rs 2,700 crore via the primary market. The mainboard offers include Park Hotels, Jana SFB, Capital SFB, and Rashi Peripherals. The lone SME issue is Alex Solar. Additionally, 25 draft offer documents are under process with Sebi, with 30 companies already receiving a green signal to raise over Rs 30,000 crore. The IPOs of Park Hotels, Rashi Peripherals, Capital SFB, and Jana SFB will open for public subscription from February 5-7, February 7, February 7, and February 7 respectively. Key Points
Economic TimesShriram Finance to issue over 3-yr dollar denominated bonds - bankers
MUMBAI (Reuters) - India's Shriram Finance plans to raise funds through U.S. dollar denominated bonds maturing in three years and three months, two merchant bankers said on Tuesday. The funds raised Key Points
ThePrint4 IPOs to open for subscription this week. Check key details
As we step into the second week of the new year, four IPOs from January 8-12, 2024 will be available to subscribe. Read to know the key details of IPOs from Jyoti CNC Automation, Australian Premium Solar (India), IBL Finance, and New Swan Multitech. Key Points
India TodayMobiKwik IPO: 8 key things investors need to know from the DRHP
The issue size is reduced by 63% from earlier in the current prospectus to Rs 700 crore. However, no existing investors will sell their shares under the latest IPO plans. About 75% of the issue will be available for allocation on a proportionate basis to qualified institutional buyers, 15% to non-institutional investors, and 10% to retail investors. Key Points
Economic TimesJyoti CNC Automation IPO price band fixed at Rs 315-331 per share. Check details
Jyoti CNC Automation IPO will open for subscription on January 9. The IPO is worth up to Rs 1,000 crore and will be the first mainboard issue of the year. Investors can subscribe to a minimum of 45 shares in one lot and its multiples thereafter. The company is offering a discount of Rs 15 per equity share to eligible employees under the employee reservation portion. Key Points
Economic TimesHRH Next Services IPO: Check subscription status on day 3, GMP and other details
The issue witnessed a good response from investors and was subscribed 66.29 times on the final day of bidding on December 29. Key Points
mint
Happy Forgings IPO opens for subscription. Should you apply?
Happy Forgings IPO: Analysts say the IPO gives a worthy option for investors seeking exposure to the manufacturing sector. The impressive track record and promising outlook of the company are additional bonuses that come with investing in this issue. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a subscribe for long-term rating to the IPO, said Anand Rathi. Key Points
Economic TimesInox India IPO fully subscribed on strong retail interest. Check GMP and other details
The initial public offer (IPO) of Inox India was fully subscribed on the first day of bidding. The issue was booked 1.17x so far, driven by strong interest from retail and HNI investors. Key Points
Economic TimesInox India IPO opens for subscription. Should you apply?
Inox India IPO is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. The company has fixed a price band of Rs 627-660, where investors can bid for a minimum of 22 shares in one lot. Under the OFS, Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain, and Lata Rungta among others will offload shares. Key Points
Economic TimesInox India IPO: What GMP indicates ahead of subscription on Thursday
The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. Key Points
Economic TimesInox India IPO: Company sets price band at Rs 627-660/share for its Rs 1,459-crore offer
Inox India IPO is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. Under the OFS, Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain, Lata Rungta among others will offload shares. Key Points
Economic Times
Inox India to launch IPO on December 14. Check details
The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. Under the OFS, Siddharth Jain, Pavan Kumar Jain, Nayantara Jain, Ishita Jain, Manju Jain, Lata Rungta, among others, will offload shares. Key Points
Economic TimesMint Healthcare Summit: Accessibility, affordability remain biggest hurdles for sector's growth
India has around 2.8 million hospital beds or around 1.7 beds per 1,000 people. Of these, less than 1% are accredited and less than 25% are of high quality, Aryaman Tandon of Praxis Global Alliance said. Key Points
mintNo new issue in agri till permanent solution on public stockholding: India at a WTO meet
In a WTO meeting, Piyush Goyal put forward New Delhi's approach to the issue saying that public procurement and stockholding of food grains serve the twin objectives of food security and income support to marginal farmers. The 19-member Cairns group, which includes agri-exporting nations, lobbies for agricultural trade liberalisation. It was formed in 1986 in Cairns, Australia. Key Points
Economic TimesMega IPO show ends on a high, all eyes on listing day
The largest of these IPOs, that of Tata Technologies, attracted more than 7.36 million applications, the highest in Indian primary market history. This overtook the previous record held by state-owned Life Insurance Corporation of India, which received 7.34 million applications last year. Key Points
Economic TimesFedbank Financial Services IPO sails through on Day 3
Fedbank Financial is one among five private bank promoted NBFCs in India. It focuses on catering to the MSMEs and the emerging self-employed individuals sector. Key Points
Economic Times
Gandhar Oil, Flair Writing & Fedbank Financial IPOs kick off. Should you bid for them?
The IPO of Gandhar Oil comprises a fresh equity issue of Rs 357 crore and an offer for sale (OFS) of Rs 143 crore. Under the OFS, promoter-selling shareholders Kailash Parekh, Gulab Parekh, and other selling shareholders – Green Desert Real Estate, and Fleet Line Shipping among others will offload shares. Key Points
Economic TimesFive companies to launch IPOs worth over Rs 7,000 crore this week
The flood of IPOs in this short period is unlikely to hurt liquidity in the main markets, said bankers. The money from one issue may not be available for the other; but except for that, the broader market may not see any effect, said Satyen Shah, president, Nuvama Investment Banking and Fixed Income. Key Points
Economic TimesIndian insurers to lead bids for Reliance Industries' mega bond issue - bankers
Reliance Industries' (RELI.NS) upcoming bond issue, touted to be the second-biggest for an Indian firm, will see strong demand from insurers, with aggressive bidding enabling the conglomerate to borrow at rates that just top the sovereign yield, several merchant bankers said. Key Points
ReutersJSW Infrastructure shares debut at 20% premium over IPO price
JSW Infrastructure has priced the issue in the range of Rs 113-119 per share. The IPO, which is entirely a fresh equity issue of Rs 2,800 crore, was subscribed 37 times at close. Key Points
Economic TimesTVS Supply Chain Solutions IPO opens. Should you subscribe?
The issue is priced at 10.5 times based on its NAV of 18.89 as of March 2023 and with good legacy parentage, tech-enabled and process-driven solution company and retirement of debt from IPO proceeds to improve net margins, we recommend a Subscribe to the issue for long term rewards, said Reliance Securities Key Points
Economic Times
TVS Supply Chain Solutions, Srivari Spices IPOs to open this week. Check details
Srivari Spices is engaged in the business of manufacturing spices and flour. The company was incorporated in 2019. It markets and sells its products and operates primarily in and around Telangana and Andhra Pradesh. Key Points
Economic TimesYatharth Hospital & Trauma Care and 4 other IPOs set to hit D-Street this week. Check details
Khazanchi Jewellers SME IPO will open for subscription on Monday, 24 July, and close on Friday, 28 July. In the Rs 92 crore IPO, an application for a minimum share lot of 1,000 equity shares at the issue price of Rs 140 per share was fixed. The shares of the company shall list on the BSE. Key Points
Economic TimesNetweb Technologies IPO opens for subscription. Should you bid?
The company is offering its shares in the price range of Rs 475-500, and at the upper end, the valuation is at a P/E of 55-59x. The IPO will fetch Rs 631 crore at the upper end of the price band. Key Points
Economic TimesSenco Gold shares deliver solid listing gains. What should investors do now?
Kolkata-based jeweller Senco Gold's shares listed at a 36% premium on Friday following its INR4.05bn ($54.6m) initial public offering. The equity issue included a fresh issue of INR2.7bn and an offer for sale of INR1.35bn. Key Points
Economic TimesWeak demand for State Bank of India perpetual bonds as investors seek higher returns
India's largest lender State Bank of India (SBI) (SBI.NS) raised only the base amount in its first perpetual bond issue for fiscal 2024 as investors sought higher returns than the bank was willing to offer, merchant bankers said. Key Points
Reuters
Utkarsh IPO: issue subscribed over 10 times on day 2 so far; retail investors steal the show
Utkarsh Small Finance Bank's IPO has been subscribed 10.67 so far times on Day 2, with strong response from retail and non institutional investors. Key Points
mintAhasolar Technologies IPO day 2: issue receives 6.86 times subscription so far; retail portion booked over 11 times
Ahasolar Tech IPO received 11.86 times subscription in the retail category and 1.87 times in the Non-Institutional Investors’ (NII) category. Key Points
mint'Unacceptable': India's tough remarks on Canada over Khalistani posters
External Affairs Ministry spokesperson, Arindam Bagchi, on Thursday said no space should be given to terrorist elements. The statement by the MEA spokesperson came as four nations addressed the issue of posters of diplomats being used by Khalistani elements. Key Points
India TodaySenco Gold IPO sails through on Day 2 of bidding process
Ahead of the IPO, Senco Gold raised Rs 121 crore in the anchor round, which saw the participation of marquee investors, including Nippon MF, White Oak, Jupiter asset management, Bandhan MF, and 3P India Equity Fund, among others. 3P India Equity Fund is owned by Prashant Jain. Key Points
Economic TimesSenco Gold IPO: What GMP signals ahead of subscription tomorrow?
Senco Gold, a major jewellery retailer in Eastern India, is set to launch its IPO on July 4. The IPO will consist of a combination of fresh shares and an offer for sale. The company's shares are currently trading at a premium in the unlisted market. The IPO aims to raise Rs 270 crore for working capital and other corporate purposes. The company has a strong financial track record, with sales exceeding Rs 4000 crore in FY23. The IPO is reserved for different categories of investors, with a minimum bid of 47 shares. Book-running lead managers for the IPO include IIFL Securities, Ambit, and SBI Capital Markets. Key Points
Economic Times
Cyient DLM IPO opens. Should you subscribe to the issue?
Cyient DLM has initiated its initial public offering for subscription, with a price band of INR250-265 ($3.36-$3.55) and a proposed market capitalisation of INR2,102 crore. The entire IPO comprises fresh equity shares worth up to INR592 crore. Analysts recommend subscribing to the issue for the long term, given attractive valuations, strong growth potential and the company's focus on the entire life cycle of a product. Cyient DLM is a printed circuit board assembly solutions specialist with long-term relationships with customers such as Bharat Electronics and Thales Global Services. Key Points
Economic TimesCyient DLM IPO: What GMP indicates ahead of subscription tomorrow
Cyient DLM is set to start its initial public offering on Tuesday, offering shares in the range of Rs 250-265 with a total value of up to Rs 592 crore. Ahead of the IPO, the company's shares have commanded a premium of Rs 90 in the unlisted markets. At the upper price band, Cyient DLM is available at P/E of 66.2x FY23 earnings. The firm specialises in the entire lifecycle of an electronics product, including design, build and maintenance, and is offering a fresh issue of equity shares. Key Points
Economic TimesIKIO Lighting IPO listing: Stock lists at a premium of 37% on NSE
IKIO Lighting share price: On the NSE, the stock was listed at ₹392.50 per share, 37.7% higher than the issue price. Key Points
mintSpectrum Talent Management IPO to open on Jun 9; to list on NSE Emerge
The initial share sale comprises a fresh issue of 51.85 lakh equity shares and an Offer for Sale (OFS) of 8.92 lakh equity shares.The Key Points
FinancialexpressMankind Pharma IPO: issue sails through on Day 3, oversubscribed at 2.13x; QIBs, NIIs overbid their portions
Mankind Pharma's IPO was fully subscribed at 2.13 times before the end of the third day of bidding. Key Points
Financialexpress
Mankind Pharma IPO Day 1: issue subscribed 14%, HNIs subscribed one-third of quota
Qualified institutional buyers (QIBs) subscribed for 8% of their reserved portion. Retail investors bid 14,39,737 times of the shares reserved for RIIs. Key Points
FinancialexpressSBI looks to raise $500 million via dollar bonds
India's largest lender, the State Bank of India (SBI), has reportedly contacted international banks to explore options for a possible bond issue, with initial estimates pointing towards $500m. The bank is expected to formally involve investment banks in the project within a week, with the issue's size dependent on the response from investors. The regulatory framework allowing companies to issue securities to investors in the US and other markets without registering with the SEC is expected to help to bring down costs. Key Points
Economic TimesAvalon Technologies shares tumble 11% on listing day. Should you hold or sell?
The stock is currently trading nearly 8% down at Rs 396.90 on BSE. It hit the day's low of Rs 387.75, translating into a fall of 11% from IPO price. The tepid listing was expected after the downtrend in company shares in the unlisted market since the IPO opened for subscription. The issue was subscribed 2.21 times at close Key Points
Economic Times‘Spoke to Rahul, Savarkar issue sorted out’: Shiv Sena (UBT) united with Opposition, says Sanjay Raut
In his speech in Malegaon on Sunday, Uddhav Thackeray had warned Rahul Gandhi that the Sena (UBT) would not tolerate any insult to Savarkar. “Savarkar is our deity...we will not tolerate any insult to him,” Thackeray had said. Key Points
The Indian ExpressDivgi TorqTransfer lists at 5.1% premium
The ₹412-crore IPO comprised a fresh share issue of ₹180 crore and an offer for sale of 3.93 million shares by existing shareholders. As part of the offer for sale, Nilekani's family trust offloaded 1.44 million shares. Key Points
Economic Times
Divgi Torq Transfer shares fall 10% after listing pop. What should investors do now?
Divgi TorqTransfer has recorded a net profit of Rs 26 crore as of September 2022, while total income stood at Rs 137 crore in the same period. Between FY20 and FY22, the companys profit after tax increased at a CAGR of 28.30%. Key Points
Economic TimesDivgi TorqTransfer shares list at 5% premium on NSE over issue price
The IPO was subscribed 5.44 times, led by retail investors. About 75% of the offer was reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors and 10% for retail investors. Key Points
Economic Times