GAGA Share Market News

[hfe_template id='11223'] [ad_1] The SME initial public offering (IPO) of Delta Autocorp was fully subscribed on Wednesday with overall subscriptions of 27.93 times by 12:04 PM on the second day of bidding. The company aims to raise Rs 55 crore through the SME IPO, with the shares set to list on the NSE SME platform. The retail portion of the issue was subscribed by 48.24 times, while the issue was subscribed 16.72 times in the non-institutional investors category on the second day of bidding. Meanwhile, the qualified institutional buyers had booked 78% of the allotted portion. Delta Autocorp IPO’s latest GMP Ahead of listing, the company's shares were trading with a GMP of Rs 110 in the unlisted market on Wednesday, indicating a premium of over 84% over the upper end of the IPO price band of Rs 130. Delta Autocorp IPO size The IPO is a mix of fresh equity sale of 38 lakh shares and an offer for sale (OFS) of 3.12 lakh shares. Through the issue, the company plans to ...

[hfe_template id='11223'] [ad_1] The initial public offering (IPO) of Standard Glass Lining Technologies will open for subscription on Monday. The issue closes on January 8. Through the public offer, the company plans to raise nearly Rs 410 crore. Here are 10 things to know about the Standard Glass Lining IPO before subscribing to the issue. 1) What is the business overview of Standard Glass Lining? Standard Glass Lining is one of the top five specialised engineering equipment manufacturers for pharmaceutical and chemical sectors in India, in terms of revenue in FY24, with in-house capabilities across the entire value chain. Its capabilities include design, engineering, manufacturing, assembly, installation and commissioning solutions as well as establishing standard operating procedures for pharmaceutical and chemical manufacturers on a turnkey basis. 2) What is the industry overview of Standard Glass Lining? The Glass-Lined Equipment (GLE) industry is poised for signif...

[hfe_template id='11223'] [ad_1] Aaradhya Disposal Industries, a manufacturer and exporter of high-quality paper products, announced filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The company’s initial public offering comprises a fresh issuance of 36,96,000 equity shares, each with a face value of Rs 10. Khambatta Securities is the sole book running lead manager to the Issue, and Bigshare Services Private is the registrar. According to DRHP, the company intends to utilise Rs 20 crore of the total IPO proceeds to fund working capital requirement including margin money, Rs 16.56 crore to fund expansion of the company, that includes capital expenditure towards purchase of plant and machinery and civil work, Rs 1.78 crore for prepayment of term loans to banks. The company will use the remaining funds for general corporate purposes. The Dewas-headquartered specialises in the manufacturing of high-quality paper products that cater to a wide range of industr...

[hfe_template id='11223'] [ad_1] Gujarat-based Mamata Machinery fixed a price band of Rs 230-243 for its Rs 179 crore initial public offering (IPO), which opens for public subscription on December 19 and will be available for bidding till December 23. The IPO is a pure offer for sale (OFS) comprising up to 73.82 lakh shares by promoters and existing shareholders and at the upper level of the price band, the total value of the IPO stands at Rs 179.39 crore. The investors can bid for the issue for a minimum quantity of multiples of 61 shares and in multiples of 61 shares thereof. The issue will open for the anchor investors on December 18, a day before it opens for the public. About 50% of the net issue will be reserved for qualified institutional buyers (QIBs), while 15% of the issue will be reserved for non-institutional investors. Meanwhile, 35% of the IPO will be reserved for retail investors. Since the issue is completely an offer for sale, the company does not intend...

[hfe_template id='11223'] [ad_1] The primary market is ending the calendar year 2024 with a bang, buoyed by a slew of companies launching their IPOs before the new year. Earlier today, three IPOs of Vishal Mega Mart, Mobikwik and Sai Life Sciences opened for subscription, leaving investors spoilt for choices. However, Vishal Mega Mart emerged as the clear favourite among all the three IPOs, given that the company has priced the issue attractively (at P/E of 77.2x, lower than retail peers) and it is strategically positioned to benefit from India’s expanding retail market, particularly in tier-2 and tier-3 cities where organized retail penetration remains low. At a PE of 77.2x its earnings, the company currently boasts a market capitalization of Rs 35,168.01 crore. However, one drawback is the complete OFS structure, where the promoter will offload around 102 crore shares. "The company’s focus on cost-efficiency, consumer-centricity, and aggressive expansion in unders...

[hfe_template id='11223'] [ad_1] The grey market premium (GMP) of Swiggy stood at 5% or Rs 19 in the unlisted market three days ahead of its initial public offering (IPO), which will hit the Street on November 6 and will be available till November 8. However, a month ago, Swiggy shares were trading at Rs 515 in the unlisted market. The company has fixed a price band of Rs 371-390 per share for the IPO, which means that the investors are willing to pay about Rs 409 for one share of the company. Swiggy is serving the IPO at a lower valuation of $11.3 billion as against its earlier target of around $15 billion. The valuations were reduced due to prevailing market volatility and the lacklustre debut of Hyundai India. Swiggy’s last private round valuation was $10.7 billion when it raised $700 million in a round led by US asset manager Invesco in January 2022. The company has increased its fresh equity sale in the IPO to Rs 4,499 crore, while reducing its offer for sale (OFS) ...

[hfe_template id='11223'] [ad_1] Beating LIC's mammoth IPO worth Rs 20,557 crore in May 2022, Korean car manufacturer Hyundai Motor India's IPO of Rs 27,856 crore will rewrite record books as India's largest public issue ever. But large sizes and returns don't go hand in hand most of the time. Out of the 6 mega IPOs worth at least Rs 10,000 crore seen on Dalal Street so far, 5 of them gave negative returns on listing. Not just that, IPO investors who have held on to the stock in hopes of a turnaround are still sitting on losses, according to data from Prime Database. LIC IPO in May 2022, which was subscribed 2 times, resulted in a 8% loss on listing day. Paytm's Rs 18,300 crore IPO, which was also the biggest issue that time, lost over 27% of its value on listing day. Even now, Paytm IPO investors are sitting at massive losses. General Insurance Corporation's Rs 11,257 crore IPO resulted in 4.5% loss on listing in October 2017. IPO investors are ...

[hfe_template id='11223'] [ad_1] The much-anticipated market debut of Hyundai Motor India is set to raise the stakes in the Indian auto industry, with competition expected to heat up, particularly in the passenger vehicle segment. The IPO is likely to push other listed auto players to innovate and elevate their product offerings. Maruti Suzuki, currently the market leader with a 40% share, is just ahead of Hyundai, the second-largest player with a 15% market share. An offering of around Rs 27,800 crore, Hyundai’s IPO is coming at a premium to Maruti Suzuki. At the upper price band of Rs 1960, Hyundai is asking a valuation of 26x FY25 earnings as against Maruti's 22x FY25 multiple. This premium valuation for Hyundai is on the back of strong Korean parent backing, better models and rising SUV share in comparison to Maruti. Analysts said the higher valuation could reflect investors’ expectations of its future growth prospects. The next leg of rivalry of the top two auto...

[hfe_template id='11223'] [ad_1] The shares of Avi Ansh Textile will debut on the NSE SME platform on Friday. Ahead of the listing, the company's shares are trading with a marginal GMP of Rs 2 in the grey market. This indicates a likely listing premium of 3% over the issue price, which was fixed at Rs 62 at the upper end. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. The company has been operating in the yarn sector since 2005 and has established a presence as a manufacturer and exporter of 100% cotton yarn, including combed and carded cotton yarn in various counts. Branded as Pooja Gold, the company claims its yarn reflects meticulous craftsmanship, offering unparalleled softness, strength, and versatility. Also Read: Diffusion Engineers IPO opens for subscription. Check issue size, price band, GMP and other details Additiona...

[hfe_template id='11223'] [ad_1] The shares of Phoenix Overseas will debut on the NSE SME platform on Friday. Ahead of the listing, the company's shares are trading with a GMP of Rs 15 in the grey market. This indicates a likely listing premium of 23%, compared with an issue price of Rs 64 at the upper end. However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly. The IPO received robust subscription of over 100 times, driven by strong demand from retail and non-institutional investors. The company is engaged into trading and exporting of animal feeds and agricultural produce and commodities such as corn, oil cakes, spices like dry red chilies, coriander, food grains like rice, wheat, corn, pulses and agricultural feed like soya bean meal and rice bran de-oiled cake. It has also been engaged in import of lentils, black urad dal and tur da...

[hfe_template id='11223'] [ad_1] The initial public offering (IPO) of Gala Precision Engineering ended on Wednesday after strong investor response helped it get subscribed by a whopping 201 times or 20,100%. The issue received consolidated share bids of over 44.79 crore over a three-day bidding period against the issue size 22,23,830 equity shares. The IPO opened for subscription on September 2. The public issue was driven by the non-institutional investor (NII) category, who booked the issue by a whopping 414.61 times and it was well supported by the qualified institutional buyers (QIBs) quota which was subscribed 232.54 times. The retail category booking the issue by 91.95 times while the employee reserved category was subscribed 259 times. Meanwhile, the current grey market premium (GMP) for Gala Precision Engineering has declined to around Rs 230 from Rs 270 on day 2. Today’s GMP represents a 43.5% premium in the unlisted market. Few of the promoter and promoter grou...

[hfe_template id='11223'] [ad_1] Shares of Resourceful Automobile, which buys and sells automobiles, listed flat on the BSE SME platform at Rs 117. The Rs 12 crore SME IPO made headlines for its strong subscription, despite the company currently operating just two Yamaha showrooms. However, ahead of the listing, the company's shares traded at a GMP (Grey Market Premium) of 89% above the offer price. The IPO, which was completely a fresh equity sale of 10.24 lakh shares, was subscribed nearly 400 times, driven by robust demand across categories. The company proposes to use the net proceeds from the public offer for expansion by opening new showrooms, repayment of debt, and other general corporate purposes. The company claims to engage in the business of buying, selling, and dealing in, automobiles, motorcars, lorries, buses, vans, motorcycles, cycle-cars, motor, scooters, carriages, amphibious vehicles, and vehicles suitable for propulsion on land, sea, or in the air ...

[hfe_template id='11223'] [ad_1] Retail portion of the initial public offering (IPO) of Brainbees Solutions was fully subscribed at 106% on the second day of the issue. The parent company of FirstCry received over 95.44 lakh consolidated share bids against 90,12,317 shares available for subscription in the category. Meanwhile, the response to the overall issue remained lackluster at 30%. Total number of share bids received at the end of the day was 1,47,37,568 versus 4,96,39,004 shares. The quota for non-institutional investors (NIIs) was also booked 30% while the qualified institutional investors (QIBs) portion was subscribed just 3%. The employee quota was subscribed 3.44 times or 344%. The current grey market premium (GMP) for Brainbees Solutions is Rs 55, representing a premium of about 12% in the unlisted market. The IPO consists of a fresh issue of shares worth Rs 1,666 crore and an offer for sale (OFS) of up to 2,528 crore shares. At the upper price band of Rs 465...

[hfe_template id='11223'] [ad_1] To minimize IPO application delays and clearing time, Sebi chief Madhabi Puri Buch on Friday said the markets regulator is working to start a template-based fill-in-the-blanks kind of application form which will be processed with the help of artificial intelligence (AI). “We have already implemented artificial intelligence (AI) within Sebi for processing of public documents. For instance, a human used to read and see whether the annual report of a REIT or an InvIT is in compliance or not is being done by AI now. The officer validates it and also does some manual checks but 80% of the work is done using AI,” Buch told market participants at a FICCI conference. The regulator is also working on AI-based processing of IPO documents with the final approval coming from an officer. “The normal track (of processing of IPO applications) would be so fast that you won’t need fast track,” she said. To demystify the entire process of IPO filing and ma...

[hfe_template id='11223'] [ad_1] The Rs 1,857 crore initial public offer (IPO) of Delhi-based Akums Drugs and Pharmaceuticals announced that its Rs 1,857 crore IPO, which will open on July 30 and close on August 1, will have a price band of Rs 646-679. The IPO consists of a fresh issue of shares worth Rs 680 crore and an offer for sale (OFS) of up to 1.73 crore shares with a face value of Rs 2 per share. Each lot in the issue will consist of 22 shares. At the upper price band of Rs 679, the OFS would be worth about Rs 1,177 crore. Under the OFS, Sanjeev Jain, Sandeep Jain, and Ruby QC Investments Holding will be offloading their part stakes. Bids can be made for a maximum of 22 equity shares and in multiples of 55 shares thereafter. About 75% of the IPO has been kept reserved for QIB (qualified institutional buyers), 15% for non-institutional investors and the remaining 10% for retail investors. The shares of Akums Drugs and Pharmaceuticals will be listed on the NSE and ...

[hfe_template id='11223'] [ad_1] The shares of Shivalic Power Control listed on the NSE SME platform with a premium of 211% on Monday. The stock debuted at Rs 311 as against an issue price of Rs 100. Ahead of the listing, the company's shares traded with a premium of Rs 175 in the unlisted market. The IPO, which was completely a fresh equity sale of 64.32 lakh shares, was subscribed over 250 times at close, driven by strong interest from retail and non-institutional investors. The net proceeds from the public offer will be used for working capital requirements, capital expenditure, inorganic growth through unidentified acquisition for company and general corporate purposes. Shivalic Power Control is an LT and HT electric panel manufacturer with an operating history of 20 years. It is a technology-driven company with a strong focus on quality, design and product development, which has allowed it to develop products suited to customers’ requirements.Also Read: IPO Cale...