StoxMaster is India's fastest growing online stock market training academy.
StoxMaster is India's fastest growing online stock market training academy.
IPO News typically covers news related to upcoming IPOs, recent IPOs, and their performance in the stock market, including their opening and closing prices, trading volumes, and investor sentiments. It may also include insights and analysis from industry experts on the latest IPO trends, market conditions, and potential investment opportunities.
The sole disappointment in this spectacular season for new listings was Fedbank Financial Services (Fedfina), which remained flat on its first day of trading.
It is important to note that grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
Of the five, three SME public issues -- Marinetrans India, Net Avenue and Graphisads --- have opened for subscription on Thursday. While Net Avenue's public offer closes on December 4, the other two issues close on December 5.
The sale comes as India logs a record number of listings in 2023, fueled by a booming stock market and optimism about the country’s economic growth. The frenzy reached a fever pitch last week when first-time share sales from five issuers, including Tata Technologies, garnered a combined Rs 2.5 trillion in application amount.
The grey market is an unofficial and unregulated market where shares are traded even before they are listed on the main exchanges.
According to the latest GMP trend, Tata Technologies is trading with a premium of Rs 406, which indicates a listing gain of over 80%. Analysts are also quite optimistic that the company will deliver solid debut gains to investors on debut. The Rs 3,042-cr IPO of Tata Technologies received bids worth over Rs 1.5 lakh crore. The overall subscription was nearly 70 times the shares on offer.
Tata Tech IPO: Based on the current GMP trends and the likely demand for the shares even post-listing, it won't be a surprise if the Tata Tech stock doubles over the IPO price on the first day itself
The demand in the market for metal forgings is driven by the growth of the automotive industry and energy sectors such as oil and gas refineries and thermal power plants.
Mobikwik is working with DAM Capital Advisors Ltd. and SBI Capital Markets Ltd. for preparations of its listing, the people said, asking not to be identified as the information is private. The company is aiming to file an initial prospectus as soon as next month and a share sale could happen in 2024, they said.
Social media websites and broker notes suggest that four out of the five IPOs are likely to give investors listing gains.
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the initial public offering (IPO), and Singapore-based Shein could launch its new share sale some time in 2024, the sources said.
The GMP of the company is strong at Rs 400, which indicates robust debut with 80% premium. There is a high possibility as per street assumption that Tata Technologies can be a wealth doubler candidate post listing. Listing gains aside, analysts are quite bullish on the company even from a long-term perspective.
Jana Small Finance Bank's IPO comprises fresh issue of Rs 575 crore and an offer for sale aggregating up to 4,051,516 equity shares by investor selling shareholders
Jana would be the seventh small finance bank (SFB) to be listed. The already listed small finance banks are AU, ESAF, Equitas, Suryoday, Ujjivan and Utkarsh out of the 12 licensed by the Reserve Bank of India
The company's shares are expected to get listed on the exchanges on November 30. According to market sources, Fedbank Financial is commanding a premium of Rs 0 in the unlisted market. Considering the upper price band of Rs 140, the stock is expected to make a flattish.
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.
Flair Writing Industries and Gandhar Oil Refinery, launching their issues, there has been a lot of discussion about grey market and grey market premium (GMP). ET looks at what these terms mean.
According to NSDL data, foreign investors withdrew a total of ₹51,697 crore from the secondary market since September 1. In the primary market, they infused ₹11,501 crore during the same period, resulting in a net outflow of ₹40,196 crore from the equity markets. The Nifty index has risen 1.8% in the past three months.
Gandhar Oil is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end-industries. Its product suite comprised over 350 products primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the Divyol brand. The company is India’s largest manufacturer of white oils by revenue in FY22, including domestic and overseas sales and is one of the top five players globally in terms of market share in CY21.
Going by the draft papers filed on Friday, the proceeds from the fresh issue will be utilized for funding the working capital requirements and general corporate purposes. Vadodara-based Kronox is a manufacturer of high-purity specialty fine chemicals. Its products find application in a wide spectrum of industries for diversified uses such as pharmaceutical formulations, active pharmaceutical ingredients, biotech, scientific research and testing, nutraceuticals, personal care, agrochemicals, animal health, metallurgy, amongst others.
Despite no new launches, five IPOs that hit the Street last week will likely see their shares getting listed. Among these, Tata Technologies, with a soaring GMP of over Rs 400, is generating a lot of interest among investors and analysts alike on the potential bumper debut. Considering the upper price band of Rs 500, the stock is expected to list at a premium of over 80% as compared to the issue price.
Dalal Street is gearing up for another busy week in the primary market as six small and medium enterprises (SME) IPOs to hit the primary market this week. However, Swashthik Plascon has already opened for subscription and will close this week. The Rs 31.73 crore initial public offering of Amic Forging will open for subscription on Wednesday
The Rs 3,042-cr IPO of Tata Technologies received bids worth over Rs 1.5 lakh crore. The overall subscription was nearly 70 times the shares on offer. The quota reserved for retail individual investors (RIIs) was subscribed 16 times, qualified institutional buyers 203 times, and NII 62 times.
An interesting trend that was observed in the IPOs that came this year is that the fresh issue as a percentage of total issue size is at 48% which is highest in the last 8 years, according to Edelweiss Mutual Fund.
Addressing the media after a board meeting that finalised key decisions, Buch said in the wake of the high pricing of IPOs, retail investors will be better off investing after the dust settles down post-debut in the secondary market.
"...Tata Technologies Ltd in consultation with book running lead managers to the IPO, has finalised the offer price, including the anchor investor offer price, at Rs 500 per equity share of face value of Rs 2 each," Tata Motors said in a regulatory filing
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.
"After a long time, we have had massive activity in the IPO market, with Rs 2.6 lakh crore blocked in bank accounts for IPOs worth Rs 7,600 crore. If this was 2003, it would take 16 working days (or ~1 month), and the entire money would have moved to investment bankers and cost investors (an interest forego) at least 0.5% (assuming 6% pa) or Rs 1300 crores," Kamath tweeted.
Tata Tech IPO was oversubscribed 69.43 times as investors poured in Rs 1.57 lakh crore by making 73.58 lakh applications. The issue closed for subscription on Friday. In terms of the number of applications, Tata Tech has broken LIC's record of 73.38 lakh applications in May 2022. Reliance Power is at the third place as it had got 48 lakh IPO applications in January 2008.
The primary motive for any mutual fund is to generate returns for its investors. IPOs often present unique opportunities in this regard. These offerings can sometimes offer a chance to buy into a promising company at an early stage, potentially reaping significant rewards as the company grows.
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.
As a result of this overwhelming response to the IPO, the share is already demanding a 30% premium on the issue price of Rs 136-140/share in the grey market
The shares of Tata Technologies are in high demand in the unlisted market, commanding a premium of over 80% as compared to the IPO price. Analysts are overwhelmingly positive on the issue and picked it as the standout among all the other offers which hit the Street this week. Tata Technologies is a pure-play manufacturing-focused engineering research and development (ER&D) company, primarily focused on the automotive industry.
According to market sources, Flair Writing shares are commanding a premium of Rs 86 in the unlisted market. The IPO comprises a fresh issue of Rs 292 crore and an offer for sale (OFS) of Rs 301 crore. The price band of this public issue is fixed at Rs 288-304.
The IPO of Gandhar Oil comprises a fresh equity issue of Rs 302 crore and an offer for sale (OFS) of 1.17 crore shares. 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
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.
The IPO of Tata Technologies is generating a strong response from investors. Moving away from the initial noise, much of the optimism around the company is due to cheap valuations when compared with listed peers such as KPIT, L&T Tech and Tata Elxsi.
Flair Writing Industries was subscribed over 6 times. Fedbank Financial Services' IPO, which was launched Wednesday, was subscribed 0.90 times.
With almost a unanimous view that one cannot miss the opportunity to invest in an IPO from a Tata Group company, investors are taking a punt by applying in multiple categories.
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.
According to market sources, the company's shares are fetching a premium of Rs 73 in the grey market. The IPO is priced in the range of Rs 160-169.
The Tata Group company, which has launched its first IPO in the last two decades, plans to raise Rs 3,042 crore through the public issue.
IREDA shares are commanding a premium of Rs 10 in the unlisted market as against an offer price of Rs 31. Most analysts recommend subscribing to the initial public offering of Miniratna company IREDA, given that it’s the largest pure-play in green energy financing and also gives an opportunity to bet on the country’s renewable energy goals.
Tata group last brought TCS to the market 20 years ago. As it turned out, the IT services company created enormous wealth for investors and in the process joined the elite list of most valuable companies in the country. Analysts see no reason why Tata Technologies can't create wealth for investors and are extremely bullish on the public offer.
Analysts across the board have given a thumbs up to the IPO asking to subscribe to it or buy it post listing and have several positive reasons backing the same.
Tata Tech IPO, which closes on November 24, is the first from Tata Group since TCS, which is also one of the reasons why the issue is generating considerable buzz. Analysts are overwhelmingly positive on the issue and, in fact, prefer the IPO over four other issues currently open.
The state-owned Indian Renewable Energy Development Agency (IREDA) public offer that opened a day earlier on Tuesday has been subscribed five times already.
The IPO is entirely an offer for sale (OFS) of equity shares worth up to Rs 650 crore by promoters and other selling shareholders. Under the OFS, Bipinbhai Vithalbhai Hadvani, Gopal Agriproducts, Harsh Sureshkumar Shah will participate.
Copyright © 2023 StoxMaster Training Co. All Rights Reserved