This is the first time Nasdaq has put a minimum value on the size of IPOs.
SBI Cards is expected to get listed early next week.
The management is confident that the IPO will sail through amid the ongoing market conditions.
Small investors in the primary market are worried if the rout can hurt the prospects of the IPO.
Brokerage Edelweiss Securities in a report said the issue will open during March 2-5.
The company will offer up to 13.05 crore equity shares via the offer for sale route, according to the draft red herring prospectors (DRHP).
Traders said the scrip is trading at a Rs 5-8 discount to issue price in the grey market.
The company’s marketing strategy includes use of influencers to tout its products online. It cites relying on them as a risk that “may materially and adversely affect our reputation or subject us to fines or other penalties”.
The agreement mentions that the member, on the other hand, agrees to be satisfied by the genuineness and financial soundness of the client and making the client aware of broker’s liability for the business to be conducted.
Out of the 15 IPOs so far this year, only three were financed by the NBFCs.
The price band of the issue is set at Rs 295-Rs 300 per equity share.
SBI shareholders likely to have better chance of getting allotment even if they hold one share.
A more open Aramco can only be a good thing, but much will depend on whether it embraces transparency (despite the Kingdom of Saudi Arabia owning almost all of the stock). The IPO process invited a global discussion about Aramco’s true value.
According to the company, SBI Card IPO saw record 8.52 lakh applications on the first day.
Traders said the scrip is trading at a Rs 65-67 premium in the grey market.
SBI Cards & Payment Services Ltd. had received orders for 15.5 times the shares on offer by Wednesday.
When interest in the primary market picks up, grey market activity picks up as well.
Institutional investors may have to disclose in advance quantity of shares meant for a fund.
The minimum bid lot is defined based on the minimum application amount.
The IPO was subscribed 27 per cent on the first day of bidding Wednesday.
The company had on Tuesday raised Rs 39.70 crore from seven anchor investors at Rs 215 per share.
Overall, the issue was subscribed 92 per cent, including anchor investors.
The company had on Tuesday raised Rs 39.70 crore from seven anchor investors at Rs 215 per share.
The portion reserved for qualified institutional buyers was subscribed 0.20 times.
The company on Monday said it has raised Rs 1,406 crore from 27 anchor investors.
Polycab is the first issue of 2019 to see subscription of 10 times or more.
Bharti Airtel currently owns 68.3 per cent in its Africa unit.
Uber’s IPO flop suggests investors are growing wary of the business prospects in ride-hailing.
The IPO saw an overall 165.68 times subscription by end of third and final day of the bidding process.
SBI Cards is likely to fix the issue price at Rs 755, the upper limit of IPO price band.
Its Rs 1,204-crore initial public offer (IPO) opened for subscription on Wednesday.
Shares have been allotted at the offer's upper price band of Rs 755 apiece, as per a regulatory filing.
The IPO received bids for 39.4 million shares out of 100.4 million shares on offer.
Late last year, Bahl and his wife acquired a controlling stake in listed firm Gaurav Mercantiles.
The total number of companies getting clearance from the Sebi has reached 75 this year so far.
Affle India on Friday raised about Rs 206.55 crore from 15 anchor investors.
The initial public offering comprises equity shares of face value of Rs 10 each of Flair Writing aggregating up to Rs 450 crore.
The company serves customers largely untapped by the top HFCs.
Asian markets are off to a subdued start on Tuesday. Let us check out what may move market all through Tuesday.
Aavas had a CRISIL credit rating of A+ in FY18 against BBB+ in FY14.
The Bengaluru-based firm on Tuesday raised over Rs 339 crore from anchor investors.
HDFC Asset Management had filed papers with Sebi in March for an IPO.
“Airtel Africa PLC ("Airtel Africa" or "Group")... further to its announcement of 11 December 2019 of its intention to float its local business Airtel Malawi PLC ("Airtel Malawi" or the "Subsidiary) on the Malawi Stock Exchange, today announces the price for the initial public offering ("IPO" or the "Offer")," said the company on Tuesday.
The RVNL offer comprises of 12.12 per cent of paid-up equity share capital of the company.
While there were trading spikes around certain events, they proved short-lived.
Thomas Cook board has approved a share buyback programme for a total consideration of up to Rs 150 crore.
The issue received bids for 3,37,51,600 against an issue size of 12,39,58,333 shares.
The bank, which was earlier known as, The Catholic Syrian Bank, has priced the offer in the range Rs 193-195 per share.
Indostar has also improved asset quality over the past few quarters.
IRCTC is offering a discount of Rs 10 per share to retail investors and employees.
A spokesperson for the fund house confirmed that the shares had been sold to comply with the regulator’s instructions.
According to market sources, the IPO would be worth about Rs 500-600 crore.
Qualified institutional placements (QIPs) have witnessed a rebound in the year so far.
Purchase of equity shares of each company by a single FPI or an investor group would have to be below 10 per cent of the total issued capital of the company.
The IPO has a price band of Rs 315-320 per share, and closes on October 3.
The SFB has finalised allocation of 8,20,94,594 shares to anchor investors at Rs 37 per share.
The total number of public shareholders in India’s largest public sector lender has increased to 18.54 lakhs at the end of December.
Peloton acknowledges that it operates in a young, brutally competitive market in the part of its IPO prospectus where it details the risks it faces.
After a dry patch of almost a decade, the IPO floodgates have opened up. If 2016 was good — 88 companies raised Rs 26,000 crore — 2017 promises to be better.
The issue comprises an offer for sale of 2,01,60,000 shares.
Besides, they have been asked to disgorge unlawful gain of about Rs 7 lakh, including interest.
On Friday, the company raised Rs 213 crore by allotting 21,95,038 shares to 15 anchor investors.
Bankers said many investors have struggled to operate the UPI platform.
The IPOs in India are set to hit a six-year high in 2016, and are estimated to raise over $5 billion (Rs 33,500 crore), says an EY report.
The quota for qualified institutional buyers (QIBs) was over subscribed 8.8 times.
VW intends to offer stock in Traton SE for between 27 euros to 33 euros per share.
The offer has generated demand worth over Rs 31,000 crore, excluding the anchor portion worth Rs 180 crore that was already allocated to investors.
At the upper price band of Rs 121-128 per, the issue size is Rs 226 crore.
The company is engaged in e-commerce, trading and recycling.
At the end of day one, the portion reserved for QIBs was subscribed nearly two times and the non-institutional investors’ portion got subscribed 0.2 times.
Airtel Africa has been experiencing healthy revenue growth in voice and data services and had posted strong performance in its Airtel Money business.
CDSL's IPO is the most subscribed maiden issue in over a decade on Dalal Street.
Before this, the highest amount of funds through IPOs was raised in 2010 at Rs 37,535 crore.
Trujet is the first airline in India to have started operations to all the routes under UDAN 1 and 2.
Lyft warned in its filing that expenses are likely to increase and that it may not be able to “achieve or maintain profitability in the future.”
The issue received bids for 19,21,500 shares by 4:30 pm, which was 11 per cent of the total issue size of 1,76,70,400.
The company on Thursday got listed on the Bombay Stock Exchange and expects to rake in Rs 6.6 crore from the IPO proceeds to be used for expansions.
Volatile equity market conditions had forced the insurer to postpone its plans.
As the time to complete an IPO is reduced under this process, risks for investors will also come down substantially, sources said.
US-based Massachusetts Institute of Technology has also been allotted shares worth Rs 35 crore.
The Rs 459-crore initial public offer (IPO) by Affle India, a company in which Microsoft is a minority shareholder, will open for subscription on Monday.
IPOs of good companies historically have been the reason for growing investor base.
Sebi has approved the removal of current restriction on the maximum number of anchor investors for anchor allocation of public issue worth over Rs 250 crore.
A large chunk of this amount or Rs 1,42,334 crore has been mopped up from debt market, while Rs 30,484 crore has been mobilised via equity route.
The regulator also clarified that the restriction would, however, be applicable to other group entities related to the merchant banker.
Local institutions would force cos to offer better valuation; it would also indirectly enhance retail participation and cut reliance on foreign funds.
A flood of new issues is expected to hit the market in the coming months. Here’s how you can make the most of this opportunity.
SoftBank is set to announce the final offering price on Monday.
Adlabs Entertainment runs amusement park, Adlabs Imagica. Located on the Mumbai-Pune expressway, the park was built by film producer and director Manmohan Shetty.
Market observers say such a correction in the newly-listed companies was imminent.
Tara Jewels, whose initial public offering opens tomorrow, has alloted shares worth over Rs 26 cr to two anchor investors.
Sebi has sought fresh clarifications from the merchant banker of Videocon d2h Ltd regarding its proposed Rs 700-crore IPO.
The status is updated on a weekly basis by the regulator and the next update as on January 9, 2015 would be uploaded on Sebi's website.
Sebi has sought fresh clarifications on the proposed Rs 750-crore IPO of Lavasa Corporation, the realty arm of construction major HCC.
Take a look at top stocks and sectors that kept investors glued to their seats the whole week.
At the upper price band of Rs 121-128 per share, the issue size stands at Rs 226 crore.
The investment trust has fixed a price band of Rs 299 to Rs 300 per unit for the offering.
PC Jeweller has finalised allocation of 6,716,250 equity shares to investors at Rs 135 a piece, the upper end of the price band for the IPO, aggregating to Rs 90.67 crore.
The Sensex has fallen over 12 per cent bringing the IPO market to a halt.
HCC's realty arm Lavasa Corporation filed documents with market regulator SEBI for launching an initial public offer (IPO) to raise Rs 750 crore.
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