IPO Watch: Muthoot Microfin raises Rs 285 crore via pre-IPO placement to 26 investors

Muthoot Microfin shares will likely get listed on the exchanges on December 26. Ahead of the listing, the company's shares are commanding a premium of Rs 26 in the unlisted market. Considering the upper price band of Rs 291, the company's shares are expected to list with a mild premium of 9% on the exchanges.

Analysts said a series of NBFCs getting listed in the last few months and a wave of other IPOs led to a divergence of focus from Muthoot. Furthermore, the company is more focused on the Southern region and valuation is on par with other listed NBFCs, which might be a reason for the tepid debut on the bourses.

India Business News: Cricketing legend Sachin Tendulkar-backed Azad Engineering has raised Rs 221 crore from anchor investors on the eve of its Rs 740-crore IPO. The IPO,

Muthoot Microfin IPO comprises a fresh issue of Rs 760 crore and an offer-for-sale (OFS) of Rs 200 crore. Under the OFS, promoters Thomas John Muthoot, George Muthoot, Preethi John Muthoot, Remmy Thomas and investor Greater Pacific Capital will offload shares. Investors can make a bid for one lot of 51 shares and in multiples thereafter.

Foreign portfolio investors were net buyers for the sixth straight day at Rs 1,603 crore. DIIs sold shares worth Rs 439 crore on Wednesday.

Fidelis Insurance Holdings notched a valuation of $1.5 billion on Thursday after shares of the reinsurer fell 6.4% on debut.

Tata Elxsi's shares have shown an increase of almost 5,879% in the last decade, giving an investment of INR 10,000 a value of almost INR 6 lakh. The company provides design and tech services to a range of industries, including healthcare, automotive, media, and transport. Its Q4 net profit rose 25% to INR 201 crore ($29.78m) compared to the previous year's INR 160 crore. Analysts suggest that investors should hold the shares but avoid new investments due to a recent pullback, and the stock is presently above its 50- and 200-day Simple Moving Averages.

India Business News: Mamaearth's parent company, Honasa Consumer, has raised ₹765.2 crore from 49 anchor investors ahead of its IPO launch on October 31. The company has a

According to the DRHP of EPACK Durable, the offer comprises fresh issuance of equity shares worth ₹400 crore and an offer-for-sale (OFS) of 1.3 crore equity shares

French multinational financial services company Societe Generale, Kuwait's sovereign fund Kuwait Investment Authority, ICICI Prudential Life Insurance, and BNP Paribas' market fund bought some of the shares. Names of other buyers were not publicly available.