India’s IPO market is bustling, ranking second globally after the US, which raised $26.3 billion this year. Following Swiggy’s successful IPO closure on 8th November 2024, India has surpassed its previous record set in 2021, with IPOs raising over Rs.1.19 lakh crore.
This surge reflects a strong domestic market, investor confidence, and favorable regulations. As businesses seize this momentum, sectors like tech and renewable energy are dominating, drawing keen interest from retail and institutional investors alike.
Investment advisory services often see this period as an opportune time to evaluate upcoming IPOs, backed by tools like stock screeners to identify promising opportunities. Let’s dive into the details of the upcoming IPOs in November 2024. But before the details, let’s brush through the concept of IPO and the types of IPOs.
What is an IPO?
An Initial Public Offering (IPO) is a company’s first step in selling shares to the public. Through an IPO, a private company raises capital, lists its shares on a stock exchange, and becomes publicly traded. This helps the company attract new investors and funding to support growth, scale up, or even allow early investors to partially or fully exit.
An IPO creates opportunities for various investor types. Companies launching IPOs invite funds from four main investor categories:
Retail Individual Investors (RIIs)
Qualified Institutional Investors (QIIs); QIIs investing over Rs.10 crore are often considered anchor investors.
Non-Institutional Investors (NIIs) or High Net-worth Investors (HNIs)
There are two IPO types: book-building and fixed-price offerings, each differing in how share prices are set.
Fixed Price IPO:
In a fixed-price IPO, the company and its underwriters analyze its assets, liabilities, and finances to set a price per share for raising funds. This issue price is printed on the order paper, and the document includes both qualitative and quantitative justifications for the pricing. Demand for these securities is revealed only after the offer period ends. Fixed-price IPOs often see high levels of oversubscription, sometimes by hundreds of times.
Book Building IPO:
Book building is relatively new to India compared to its history in Western markets. Unlike a fixed price, there is a price range with a ‘floor price’ as the minimum and a ‘cap price’ as the maximum. This range appears on the order paper, and investors can bid for shares within it.
The final share price depends on the bids received, usually set at or above the floor price. Unlike fixed-price issues, demand is visible daily as bids come in, giving a live picture of investor interest while the book is being built.
Rosmerta Digital Services Limited, founded in 2021, delivers digital and distribution solutions in the automotive sector, specializing in vehicle registration and last-mile delivery.
Its core services include digitally enabled solutions for vehicle registration, last-mile delivery, and garage services. Serving clients like OLA Electric and Royal Enfield, Rosmerta has gained recognition for its URJA platform and MyRaasta app, which simplify processes and bolster digital sales.
Rosmerta Digital Services’ upcoming IPO will feature a fresh issue of shares worth Rs.206.33 crores. The minimum application lot is 1,000 shares, requiring an initial investment of Rs.147,000.
This book-built IPO aims to raise funds for strategic acquisitions, office space purchases in Mumbai, warehouse and model workshop establishments, IT infrastructure development, and working capital needs.
NTPC Green Energy Limited:
NTPC Green Energy Limited (NGEL) was incorporated in April 2022 as a wholly-owned subsidiary of NTPC Limited, focusing on renewable energy. As of June 30, 2024, NGEL operates a portfolio with a total capacity of 14,696 MW. The company draws on NTPC’s expertise in executing large-scale projects and strong ties with suppliers and off-takers.
The IPO offers a fresh issue of 92.59 crore shares, with a minimum lot size of 138 shares, making the retail entry point Rs.14,904. The minimum investment required for small non-institutional investors (sNII) is Rs.208,656, while large non-institutional investors (bNII) will need at least Rs.1,013,472.
Lamosaic India Limited:
Lamosaic India Limited, founded in January 2020, specializes in trading and manufacturing flush doors, decorative laminates, acrylic sheets, printing paper (base), and plywood. It customizes products based on customer orders, including laminated and decorative flush doors.
Headquartered in Maharashtra, it primarily operates there and has a distribution franchise in Mumbai. The company’s fixed-price IPO aims to raise funds for several purposes: repaying borrowings, meeting working capital needs, pursuing inorganic growth, and general corporate requirements.
Retail investors can participate with a minimum application of 600 shares, requiring an investment of Rs.120,000. High Net-Worth Individuals (HNIs) have a minimum application size of 1,200 shares (2 lots), totaling Rs.240,000.
C2C Advanced Systems Limited:
Founded in 2018, C2C Advanced Systems Limited (formerly C2C – DB Systems Private Limited) specializes in defense electronics, focusing on indigenously developed solutions. It offers C4I systems, AI/ML-based analytics, real-time data integration, and embedded design tailored for defense applications.
C2C’s growth is backed by a robust business model centered on defense electronics, AI/ML solutions, and government initiatives like “Atmanirbhar Bharat.”
The IPO includes 43.84 lakh shares through a fresh issue, with a minimum lot size of 600 shares. Funds raised will support capital expenditure on hardware and software, establish Experience Centres in Bengaluru and Dubai, cover working capital needs, and go toward general corporate purposes.
Bottomline:
The latest IPOs in November 2024 offer great opportunities to invest in diverse sectors, like renewable energy, defense, and manufacturing, and to diversify portfolios. Investing in IPOs can be an excellent way to join a company’s growth story early. The potential for high returns often draws significant attention, especially in a market like India’s. However, IPO investments carry risks, including price volatility, oversubscription challenges, and unpredictable post-listing performance.
So, while upcoming IPOs pose a strong opportunity, investment decisions must be backed by thorough research and a fair understanding of the share market basics. For guidance on the best research approach, you can seek the services of SEBI-registered investment advisory firms.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
FAQ
What is the primary market?
In the primary market, new securities are issued and sold directly by companies or governments to investors to raise capital.
Can I cancel an IPO application?
Yes, in most cases, you can revise or cancel your IPO application before the IPO’s closing date. If you’ve applied through a broker or online platform, they usually allow you to modify your bid or withdraw your application within the specified window.
What is the ‘basis of allotment’?
The Basis of Allotment is a document published by the registrar of an IPO. It details the final price, subscription information, and the share allocation ratio for investors based on their bids. It helps determine how shares are distributed among applicants.
Are you ready for an action-packed week in the stock market? This week, three IPOs are set to open, aiming to raise a total of ₹1,160 crores, with Blackbuck leading the way in the mainboard category, targeting ₹1,114.72 crores. Meanwhile, two SME IPOs — Mangal Compusolution and Onyx Biotec — seek to raise ₹16.23 crores and ₹29.34 crores, respectively.
Not only will investors have these new opportunities, but four highly anticipated listings, including Swiggy, will also hit the bourses, offering a fresh wave of excitement. Let’s look into the details to see what these IPOs and listings store for investors this week.
Blackbuck IPO
The BlackBuck IPO is structured as a book-built issue, seeking to raise a total of ₹1,114.72 crores. This includes a fresh issue of 2.01 crore shares worth ₹550 crores and an offer for sale (OFS) of 2.07 crore shares amounting to ₹564.72 crores. Investors are required to apply for a minimum lot size of 54 shares. The final allotment is expected on November 19, 2024, with a tentative listing date set for November 21, 2024, on the BSE and NSE.
The funds raised through the IPO will be utilized for:
Sales and marketing expenses
Capital infusion into its NBFC subsidiary, Blackbuck Finserve
Product development
General corporate purposes
GMP (Grey Market Premium)
As of November 11, 2024, BlackBuck’s IPO has a GMP of ₹24. Given the IPO’s upper price band of ₹273 per share, the expected listing price is approximately ₹297, reflecting a potential gain of 8.79% per share. The GMP is subject to market sentiment, and investors may find this indicator useful for estimating the stock’s initial market interest.
Company Overview
Founded in April 2015, Zinka Logistics Solution Limited, through its BlackBuck app, provides a comprehensive digital platform for truck operators in India. BlackBuck connects 963,345 truck operators, representing 27.52% of India’s trucking market, facilitating streamlined logistics and transportation services. The app offers various services, including payments, telematics, a freight marketplace, and vehicle financing, empowering truck operators to optimize their business operations.
Regarding financial transactions, BlackBuck processed a Gross Transaction Value (GTV) of ₹173,961.93 million in payments as of March 31, 2024. The platform also had an average of 356,050 active telematics devices each month, indicating widespread adoption of its fleet management solutions. Additionally, BlackBuck facilitated 4,035 loans valued at ₹1,967.88 million for vehicle financing across 48 districts in seven Indian states, extending crucial financial support to its users.
SWOT Analysis of Zinka Logistics Solutions Ltd.
STRENGTHS
WEAKNESSES
Market Leadership: BlackBuck is India’s largest digital platform for truck operators, commanding a significant market share and a vast network.
Diverse Offerings: Its range of services, from telematics to vehicle financing, addresses the varied needs of truck operators, enhancing customer loyalty.
Financial Growth: Strong revenue and PAT growth highlight the company’s scalable business model and financial stability.
Reliance on the Indian Market: BlackBuck’s operations are concentrated in India, and its growth is tied to the local logistics sector, limiting global expansion potential.
High Customer Acquisition Costs: Increasing sales and marketing expenditure, a key IPO objective, indicates higher customer acquisition costs in a competitive market.
OPPORTUNITIES
THREATS
Expanding Digital Adoption: As the Indian logistics industry undergoes digitization, BlackBuck has significant opportunities to increase its user base and product offerings.
Growth in Financing Services: Demand for vehicle financing and other NBFC services offers BlackBuck the potential for diversification and revenue growth.
Regulatory Risks: Changes in financial and logistics regulations could impact BlackBuck’s business operations and revenue streams.
Competition: Increased competition in logistics and digital platforms could challenge BlackBuck’s market share, affecting profitability.
Financial Strength
The company’s financials reflect strong growth. Between FY 2023 and FY 2024, Zinka Logistics Solution Limited reported a 62.24% increase in revenue and a 33.24% rise in profit after tax (PAT). This growth demonstrates BlackBuck’s expanding market footprint and its capacity to leverage operational efficiencies for profitability.
The Mangal Compusolution IPO is a fixed-price issue, aiming to raise ₹16.23 crores entirely through a fresh issue of 36.06 lakh shares. This IPO, set to be listed on the BSE SME platform, has a minimum lot size of 3,000 shares, making the minimum investment required for retail investors ₹135,000. High Net-worth Individuals (HNI) must invest in at least two lots (6,000 shares), totaling ₹270,000. The allotment of shares for this IPO is expected on November 18, 2024, with a tentative listing date of November 20, 2024.
The funds raised from the Mangal Compusolution IPO will be used for:
Capital expenditure to enhance infrastructure and service capabilities
General corporate purposes to strengthen overall business operations
GMP (Grey Market Premium)
The most recent Grey Market Premium (GMP) for Mangal Compusolution’s IPO is ₹3 as of November 11, 2024. Given the issue’s fixed price of ₹45 per share, the estimated listing price is around ₹48, which suggests a potential gain of 6.67% per share on the listing. This GMP estimate offers investors an initial indication of market interest in the IPO, although final prices may vary based on market sentiment.
Company Overview
Founded in April 2011, Mangal Compusolution Limited is a hardware rental service provider. The company offers rental solutions catering to businesses’ IT hardware needs across various industries. Mangal Compusolution’s extensive product offerings include servers, laptops, desktops, projectors, router switches, workstations, Plasma/LCD TVs, PA systems, and various other accessories. This allows the company to provide customizable rental IT solutions to small and large enterprises tailored to meet specific client needs.
While Mangal Compusolution serves clients across India, its major clients are in Maharashtra. The company divides its revenue into three primary segments: rental income from leased IT equipment, sales of IT equipment, and IT equipment maintenance service fees. Mangal Compusolution has established itself as a customer-centric provider with services that minimize client operational disruption.
SWOT Analysis of Mangal Compusolution Ltd.
STRENGTHS
WEAKNESSES
Varied Product Range: Mangal Compusolution offers a wide variety of IT products from well-known brands like HP, Dell, and Lenovo, allowing it to meet the diverse needs of different industries.
Customer Focus: The company’s customer-centric approach includes 24/7 support and maintaining backup equipment to ensure zero client downtime.
Reliable Support: The company offers dedicated support teams and maintains an inventory of extra equipment to minimize service interruptions.
Geographical Dependence: While Mangal Compusolution has a nationwide reach, its client base is concentrated in Maharashtra, which could pose a challenge in diversifying geographically.
Dependence on Equipment Leasing: A significant portion of its revenue relies on IT equipment rentals, leaving the company vulnerable to shifts in demand for leased IT hardware.
OPPORTUNITIES
THREATS
Growing Demand for IT Hardware Rentals: With more companies opting for IT hardware rentals over direct purchases, Mangal Compusolution can expand its client base across various sectors.
Expansion Potential: By increasing its presence in additional states, the company could increase revenue and further its growth.
Market Competition: The IT hardware rental industry faces competition from several established and emerging players, which could impact Mangal Compusolution’s market share.
Technological Advancements: Rapid technological changes could lead to higher maintenance costs or the need for frequent upgrades, impacting profitability if not managed effectively.
Financial Strength
For the fiscal year ending March 31, 2024, Mangal Compusolution saw a 62.24% increase in revenue, with a 33.24% rise in profit after tax (PAT) compared to the previous fiscal year ending March 31, 2023. This financial growth underscores the company’s effective expansion and growing client demand for IT hardware rental solutions.
Onyx Biotec IPO is a book-built issue seeking to raise ₹29.34 crores through a fresh issue of 48.1 lakh shares. The minimum application lot size is 2,000 shares, which requires an investment of ₹122,000 for retail investors.
High Net-Worth Individuals (HNI) can invest in a minimum of two lots (4,000 shares), amounting to ₹244,000. The share allotment for this IPO is expected on November 19, 2024, with the tentative listing date on the NSE SME set for November 21, 2024.
The proceeds from the Onyx Biotec IPO are earmarked for the following purposes:
Upgrading the existing manufacturing Unit I to support large-volume parentals for intravenous use
Installing a high-speed cartooning packaging line at manufacturing Unit II for Dry Powder Injections
Prepayment or repayment of certain loans
General corporate purposes
GMP (Grey Market Premium) of Onyx Biotec Ltd
Onyx Biotec IPO’s last recorded GMP is ₹5, as of November 11, 2024, which puts its estimated listing price at ₹66, considering the IPO price band of ₹61. This suggests a potential gain of 8.20% on the listing price per share. The GMP reflects initial interest in the IPO, but the actual listing price may differ based on demand and market conditions.
Company Overview
Founded in May 2005, Onyx Biotec Limited operates within the pharmaceutical manufacturing sector. The company primarily produces Sterile Water for Injections and is a contract manufacturer for pharmaceutical companies specializing in Dry Powder Injections and Dry Syrups.
Onyx Biotec has a robust production capacity, which is supported by two manufacturing units in Solan, Himachal Pradesh. Unit I has a daily production capacity of 638,889 Sterile Water for injection units. In comparison, Unit II produces 40,000 dry powder injections and 26,667 dry syrup units per day in a single shift.
The company’s clients include well-established pharmaceutical brands like Hetero Healthcare Limited, Mankind Pharma Limited, Sun Pharmaceutical Industries Limited, Aristo Pharmaceuticals Private Limited, and Reliance Life Sciences Limited. Through partnerships with these major players, Onyx Biotec has positioned itself as a reliable contract manufacturer, serving domestic and international markets.
SWOT Analysis of Onyx Biotec Ltd.
STRENGTHS
WEAKNESSES
Established Production Capacity: Onyx Biotec operates two high-capacity manufacturing units, allowing it to meet large-scale production demands.
Reputable Client Base: The company partners with well-known brands, enhancing its market credibility and stability.
Growing Revenue and Profitability: Onyx Biotec’s recent revenue and profit growth reflects a solid financial position and operational efficiency.
High Dependency on Contract Manufacturing: Relying heavily on contract manufacturing might limit the company’s control over its revenue sources and expose it to fluctuations in client demand.
Geographic Concentration of Production Facilities: Both manufacturing units are located in Solan, Himachal Pradesh, which could present logistical challenges if expansion or diversification becomes necessary.
OPPORTUNITIES
THREATS
Increased Demand for Injectable Pharmaceuticals: The rising demand for injectable drugs offers growth potential for Onyx Biotec’s current product lines.
Expansion of International Market Reach: Expanding the company’s client base in overseas markets could enhance revenue growth and diversify income streams.
Regulatory Compliance and Industry Standards: The pharmaceutical industry faces stringent regulatory scrutiny, and any non-compliance could lead to operational disruptions or financial penalties.
Intensified Competition: The contract manufacturing sector is competitive, with many players vying for market share, which may pressure pricing and margins.
Financial Strength
Onyx Biotec has demonstrated significant financial growth in recent years. For the fiscal year ending March 31, 2024, the company’s revenue increased by 35.99%, and its profit after tax (PAT) grew by 64.35% compared to the fiscal year ending March 31, 2023. This financial growth underscores the company’s effective management and increasing demand for its products in the pharmaceutical sector.
Healthcare-focused solution provider Sagility India will be the first to list on the mainboard next week, debuting on November 12, following a 3.2x subscription during the November 5-7 bidding period.
Food delivery giant Swiggy and electricity producer ACME Solar Holdings are set to list on November 13, having garnered 3.59 times and 2.75 times subscriptions, respectively. Meanwhile, trading in shares of Niva Bupa Health Insurance Company will commence on November 14.
With three new IPOs and four notable listings, this week’s activity highlights continued momentum in the public market. Each offering presents opportunities for investors to observe, with companies like Blackbuck and Swiggy capturing significant attention. As these firms take their first steps into the public sphere, this week is a key moment in the IPO landscape. Remember, doing your research is important before investing in any IPO.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
Did you ever dream of striking gold in the stock market through an IPO? Don’t be reluctant if you say “Yes”. You are not alone. Remember the Zomato IPO from 2021, when the retail portion was oversubscribed by 2.69 times. This means that for every 100 shares available, 269 applications were received. Huge, right?
Getting in early on a promising IPO can feel like winning the lottery. It’s about much more than luck; strategy is the key.
Here are five tried-and-true strategies for increasing your chances of receiving that coveted IPO allotment. Ready to play and win?
Getting in on the ground floor of a promising initial public offering is like catching a rising star. However, to succeed in the IPO game, you must first understand the process.
Remember, when a company goes public through an Initial Public Offering (IPO), it is offering shares to the public for the first time. This is how they raise capital for a variety of purposes viz. Business diversification, discharging market liabilities, or for other general corporate purposes.
Step 1: Appointing Lead Managers and Advisors
Companies select lead managers (underwriters) and legal advisors to guide them through the IPO process. These experts help with documentation and regulatory compliance.
Step 2: Drafting and Filing the Draft Red Herring Prospectus (DRHP)
The company, with its advisors, drafts the DRHP, detailing the business model, financials, and the purpose of the IPO. This document is then submitted to SEBI for approval.
Step 3: SEBI Review and Approval
SEBI reviews the DRHP to ensure all regulatory requirements are met. SEBI might request clarifications or additional information. Once their queries are resolved, they issue an observation letter.
Step 4: Marketing and Roadshows
The company conducts roadshows to generate interest among potential investors. This involves presentations and Q&A sessions, showcasing the company’s growth potential.
Step 5: Pricing the IPO
Based on investor feedback and market conditions, the company, along with its lead managers, sets the IPO price or price band.
Step 6: Book Building Process
Investors bid for shares within the price band during the book-building period. This process establishes the final share allotment price.
Step 7: Allocation of Shares
Investors receive shares according to their submitted bids. Retail investors, qualified institutional buyers (QIBs), and non-institutional investors (NIIs) all get their respective portions.
Step 8: Listing on the Stock Exchange
Once shares are allocated, the company lists its shares on stock exchanges like BSE and NSE. Shares start trading publicly, and the IPO process culminates with the listing day.
Researching the Right IPOs
To ensure success in IPO allotment, you cannot afford to pick any random company just by being driven by its publicity or marketing gimmicks. You have to do highly skilled and strategic research.
Now, let’s quickly scan through the process of finding the right IPO-
Know the Company Inside Out:
Dig into its business model, revenue streams, and growth potential. Also, its key promoters, and the management of the company.
Read the DRHP (Draft Red Herring Prospectus) Like a Detective:
Look beyond the surface. Analyze financial statements, and check their fundamental and technical parameters, risk factors, and plans.
Market Trends and Industry Analysis:
Is the industry booming or busting? Align your picks with sectors on the rise. An emerging industry can boost a company’s IPO potential.
Peer Comparison: Compare the IPO company with its peers on the aspects of their valuation, Price-to-earning (P/E), Price-to-Sale (P/S), EBITDA, etc. Analyse how their financials stack up.
Investor Sentiment: Gauge the buzz around the IPO. Strong investor interest can drive demand, but don’t fall for hype alone—back it up with solid data.
Meaningful research is vital to winning the IPO game.
5 Proven Strategies You Can Use To Maximize Your Chances of IPO Allotment
Leverage Your Demat Account
Maintain an active Demat account with a reputable brokerage. High-volume transactions and a long-standing relationship can improve your chances. Brokerage firms may prioritize loyal customers.
2. Spread Out Your Bids
Instead of placing a single bid for a large number of shares, submit multiple applications using different Demat accounts, maybe be of your close relatives. Particularly in the case of oversubscribed IPOs, scattered investments always obtain higher chances of allotment. This can increase your chances of getting at least one allotment, especially if demand is high.
3. Opt for Full Payment Bids
When given a choice, opt for a full payment bid rather than part payment. This shows serious intent and can sometimes be favoured during allotment, making it less likely your bid will be overlooked.
4. Target Undersubscribed IPOs
Keep an eye on less popular or undersubscribed IPOs. These might have lower demand, increasing your chances of securing shares. But, don’t forget to check the fundamentals of the company before investing.
5. Apply as a Retail Investor
Confine your application amount to the retail investor limit of Rs. 2,00,000. Retail investors often have a reserved portion of shares in many IPOs.
Applying within this quota can be beneficial, especially for smaller investors, as the competition may be less intense compared to institutional bids.
The Key Takeaways
You will be amazed to know that in FY 24, retail investor participation skyrocketed, pushing IPO retail oversubscription to an impressive 30 times—far beyond FY23’s 7 times and FY22’s 14 times.
So, cracking the IPO code requires more strategic thinking and planning than chance or luck. To increase your chances of IPO allotment, use your Demat account, spread bids, opt for full payments, target undersubscribed IPOs, and leverage the retail investor advantage.
To make informed decisions, conduct thorough research on the company’s fundamentals and market trends. Developing strong broker relationships and staying informed keeps you one step ahead.
Following these suggestions will transform you from a mere participant in the IPO game to a winner. Ready to take on the IPO landscape? Go forth and secure your allotments!
What’s the advantage of applying through multiple Demat accounts?
Applying through different Demat accounts increases your chances of allotment. Spreading your investment in various offerings applied through various accounts boosts your odds of success and at the same time impact of the risk is reduced when spread.
Moreover, bifurcated investment policy allows you to participate in many other IPOs thereby enhancing your chance of higher allotments.
Why is it beneficial to build a strong relationship with brokers?
Brokers can offer priority allotment to long-term, high-volume customers. A solid relationship might mean you get favoured during high-demand IPOs, giving you an edge over casual or less-interested investors.
How does choosing a full payment bid improve my chances?
A full payment bid shows your commitment and seriousness. This often leads to higher priority during the allotment process, as it indicates you’re ready to invest without hesitation.
What’s the risk of targeting undersubscribed IPOs, and is it worth it?
Undersubscribed IPOs might suggest lower demand, which could signal potential issues with the company. However, thorough research can reveal overlooked opportunities, making it a calculated risk worth taking.
Can retail investors have an advantage in IPO allotments?
Yes, many IPOs reserve a portion specifically for retail investors. This means less competition within this category, giving smaller investors a fairer chance at getting an allotment.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
Niva Bupa Health Insurance’s recent ₹2,200 crore IPO has sparked significant interest among investors. With a strong first-day subscription of 65%, the market is buzzing with anticipation. Let’s look deeper into the details of this IPO and explore what it offers to potential investors.
The Niva Bupa Health Insurance IPO, launched on November 7, 2024, is open for subscription until November 11, 2024. This IPO, structured as a book-built issue, aims to raise ₹2,200 crores by combining a fresh issue and an offer for sale (OFS) component. Specifically, the fresh issue consists of 10.81 crore shares valued at ₹800 crores, while the OFS includes 18.92 crore shares amounting to ₹1,400 crores.
Investors must apply for a minimum lot size of 200 shares, translating to a minimum retail investment of ₹14,800. Meanwhile, the minimum investment required for small non-institutional investors (sNII) is set at ₹207,200 for 2,800 shares, and for big non-institutional investors (bNII), the minimum is ₹1,006,400 for 13,600 shares.
After the allocation, which is expected to be finalized by November 12, 2024, Niva Bupa’s shares are slated to list on both the BSE and NSE on November 14, 2024. Source: SEBI
The Niva Bupa Health Insurance IPO attracted solid attention on its opening day, achieving a 65% subscription. Investors bid for 11.19 crore shares against the 17.28 crore shares available. Here’s how the different investor categories contributed on Day 1:
The company aims to allocate the IPO proceeds to achieve two primary objectives:
Augmentation of Capital Base: To strengthen the company’s solvency levels, supporting its financial stability and long-term growth.
General Corporate Purposes: Funds may also be used for other corporate needs as determined by management.
Grey Market Premium (GMP)
The GMP for Niva Bupa Health Insurance IPO is currently ₹0 (as of November 8, 2024). With the price cap at ₹74, the estimated listing price is also expected to be around ₹74, indicating no anticipated premium or discount. This stable GMP suggests market confidence in the company’s valuation, though the premium could change in the days leading to listing based on demand. Source: Livemint
Company Overview
Founded in 2008, Niva Bupa Health Insurance is a joint venture between Bupa Group and Fettle Tone LLP, established to serve the health insurance needs of individuals and families across India. With a strong focus on technology and customer service, the company’s key offerings include:
Retail Health Products: Tailored for individuals and families.
Group Health Products: Designed for corporate clients.
As of March 31, 2024, the company served 14.73 million active insured lives and operated in 22 states and four union territories. Recent initiatives, including a mobile application and website, emphasize digital tools for customer convenience.
Financial Strength
Niva Bupa Health Insurance has demonstrated consistent financial growth in recent years, supported by increasing demand within India’s health insurance sector. Between the fiscal years ending March 31, 2023, and March 31, 2024, the company’s revenue surged by 44.05%, and its profit after tax (PAT) grew substantially by 552.73%.
This growth reflects Niva Bupa’s strategic expansion and operational improvements, including a focus on retail and group health products. Gross written premiums (GWP), a key measure of growth in the insurance industry, also expanded significantly, growing at a compound annual growth rate (CAGR) of 41.27% from fiscal years 2022 to 2024. Retail health premiums alone recorded a CAGR of 33.41%, underscoring the company’s increasing foothold in the individual and family health insurance markets. Source: SEBI
Diverse Product Portfolio: A broad range of products catering to individual and group health insurance needs.
Strong Digital and Automated Systems: Uses AI-driven technology, including machine learning lead scoring, CRM, and telemarketing tools, to enhance customer engagement and service efficiency.
Trusted Brand Parentage: Bupa Group’s established reputation in healthcare and health insurance lends credibility to Niva Bupa.
Experienced Claims Management: The company brings expertise in handling claims and managing provider relationships, which are critical in health insurance.
Heavy Dependence on Technology: While advantageous, high reliance on digital tools can lead to operational vulnerabilities, particularly in data security and technical issues.
Relatively Young in Market Tenure: Compared to some competitors, Niva Bupa is a younger player, which could impact brand loyalty and customer acquisition in some segments.
OPPORTUNITIES
THREATS
Increasing Demand for Health Insurance: Rising healthcare costs and awareness about health insurance in India present an expanding market opportunity.
Potential to Penetrate Untapped Markets: With a presence in 22 states and four union territories, Niva Bupa can still expand to other regions within India.
Innovation in HealthTech: There is scope to leverage AI, mobile apps, and digital platforms further for personalized health solutions, which could lead to increased customer retention.
High Competition in Health Insurance: The Indian health insurance market is competitive, with established players and new entrants vying for market share.
Regulatory Changes: Any changes in health insurance regulations could impact pricing, operational costs, and growth.
Economic Downturn: Customers may prioritize essential expenditures during financial slowdowns, impacting premium collection and profitability.
Conclusion
With good financial performance, a diversified product portfolio, and a promising Day 1 subscription, Niva Bupa Health Insurance’s IPO has garnered investors’ attention. The absence of a Grey Market Premium may suggest a stable listing, which investors will closely watch in the coming days.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
One of the renewable energy giants, ACME Solar Holdings Limited, is set to launch its IPO today. The highly anticipated IPO aims to raise Rs.2900 crore from investors. But is the IPO worth considering? Let’s dig into the details of the IPO and the company to determine whether it fits into your investment plans.
The Acme Solar Holdings IPO includes a fresh issue of 8.29 crore shares, raising Rs.2,395 crore, and an offer for sale of 1.75 crore shares, totaling Rs.505 crore. Altogether, the IPO is sized at Rs.2,900 crore.
Kfin Technologies Ltd. has been appointed the issue’s registrar. Meanwhile, Nuvama Wealth Management Ltd., ICICI Securities Ltd., JM Financial Ltd., Kotak Mahindra Capital Company Ltd., and Motilal Oswal Investment Advisors Ltd. are the book-running lead managers.
Allocation of Shares
The ACME Solar Holdings IPO consists of 10,03,46,021 shares. Of these, 3 crore shares (29.9%) are reserved for Qualified Institutional Buyers (QIB), 1.5 crore (14.95%) for Non-Institutional Investors (NII), 1 crore (9.97%) for Retail Individual Investors (RII), 3,46,021 shares (0.34%) for employees, and 4.5 crore (44.84%) for Anchor investors.
On 5th November 2024, a day before the IPO launch, ACME Solar raised Rs.1,300.5 crore from anchor investors. Out of the 4.5 crore shares allocated to anchor investors, 1.5 crore were distributed to eight domestic mutual funds through 17 schemes.
The company has capped the maximum investment for retailers at 663 shares and 3417 shares for smaller HNIs (High-Net-Worth Investors who invest between Rs.2 lakh and Rs.10 lakh in any IPO). For the bigger HNIs (HNIs who invest more than Rs.10 lakh in an IPO), the minimum investment required is 3468 shares.
Qualified Institutional Buyers (QIBs)
Not less than 75% of the Net Issue
Non-Institutional Investors (HNIs)
Not more than 15.00% of the Net Issue
Retail Investors
Not more than 10% of the Net Issue
Anchor Investors
60% of the QIB portion
Eligible Employees
10 crore shares with a discount of Rs.27 per share
According to its red herring prospectus, Acme Solar plans to use the IPO proceeds primarily to reduce debt amounting to Rs.1,795 crore owed by its subsidiaries, either in whole or in part.
The remaining funds will be used for general corporate purposes, such as funding growth opportunities, business development, ongoing needs, or contingencies. The Offer for Sale proceeds will also go to the Promoter Selling Shareholder, ACME Cleantech Solutions Private Limited.
Grey Market Premium (GMP)
As of November 5, 2024, ACME Solar shares were trading at a 9.8% premium in the grey market over the upper price band. By November 6, the grey market premium (GMP) for Acme Solar Holdings’ IPO stood at Rs.10, reflecting a premium of approximately 3.46% over the IPO price of Rs.289.
This suggests the estimated listing price could be around Rs.299 per share. Looking at the past 13 sessions, the GMP has shown a downward trend, with the lowest recorded at Rs.0 and the highest reaching Rs.30. Source: Livemint
Company Overview
ACME Solar Holdings is one of India’s largest renewable energy independent power producers (IPP) and ranks among the top 10 in operational capacity as of June 2024. Established in 2015, the company focuses on renewable energy and has a portfolio that includes solar, wind, hybrid, and firm dispatchable renewable energy (FDRE) projects.
ACME aims to provide sustainable green energy at affordable rates while managing resourceful projects. In October 2024, ACME Solar Holdings signed a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 150 MW hybrid project. This project will combine solar power with Energy Storage Solutions (ESS).
The company has become a significant player in India’s renewable energy sector, successfully commissioning 3,668 MWp of solar power across 12 states. ACME’s solar power projects cover various services, including project development, financing, construction, and operation.
For FY2024, the company’s revenue was Rs.1466.2 crore, around 6% more than the FY2023 revenue of Rs.1361.3. However, the revenue trend has been declining since the FY2021 revenue figure of Rs.1910.2 crore and the FY2022 figure of Rs.1892.2 crore.
One reason for such fluctuations is capacity divestment. In FY24, ACME Solar sold 369 MW of capacity to financial investors at approximately Rs.3.8 cr to Rs.4.4 cr per MW. The company used the proceeds to grow its business.
The company’s net profit trend has improved over the past three years. As of FY2024, the company earned Rs.698.2 crore as net profit after incurring a loss in FY2023 (Rs.3.1 crore).
SWOT Analysis:
STRENGTHS
WEAKNESSES
Strong Market Position: ACME Solar is a well-established player in the Indian renewable energy sector, ranking among the top 10 in operational capacity.
Diversified Portfolio: The company has a diversified portfolio of solar, wind, and hybrid projects, reducing its reliance on a single technology.
Financial Performance: The company showed strong financial performance in FY2024, recovering from the previous year’s loss.
Focus on Innovation: ACME Solar is committed to innovation and is actively exploring new technologies, such as energy storage solutions.
Debt Burden: The company has a debt burden, which could impact its financial performance and ability to invest in future growth.
Regulatory Risks: The renewable energy sector is subject to various regulatory risks, which could impact the company’s operations and profitability.
Competition: The renewable energy sector is highly competitive, with several large players vying for market share.
OPPORTUNITIES
THREATS
Growing Renewable Energy Demand: As of August 2024, India’s installed renewable energy capacity has reached approximately 200 GW. The increasing demand for clean and sustainable energy, driven by climate change concerns and government policies, presents significant growth opportunities for ACME Solar.
Emerging Technologies: Technological advancements like energy storage, solar photovoltaic (PV) modules, and wind turbines offer innovation and cost-reduction opportunities.
Intense Competition: The renewable energy sector is highly competitive, with numerous players vying for market share.
Financing Challenges: Securing adequate financing for large-scale renewable energy projects can be challenging, especially in a volatile economic environment.
Grid Integration Issues: Integrating large-scale renewable energy projects into the existing grid can pose technical and regulatory challenges.
Conclusion
A global transition to green and clean energy has supported the growth of companies like ACME Solar, which offers a range of power generation services and products. In FY23, its profits declined due to amortization costs and the sale of certain projects. However, FY24 saw a sharp profit boost from higher income and exceptional items.
While profits may not be the only reason you decide to invest, they can be one factor to consider. Nevertheless, consider the information mentioned and more in-depth research before giving an IPO a chance to be part of your portfolio.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
Are you ready to see Swiggy make its public debut? Swiggy’s highly anticipated IPO opens on November 6, aiming to raise ₹11,327.43 crore from investors. The IPO includes a fresh issue of 11.54 crore equity shares valued at ₹4,499 crore and an offer-for-sale (OFS) component of 17.51 crore shares worth ₹6,828.43 crore.
Priced within a range of ₹371 to ₹390 per share, this IPO places Swiggy’s valuation at around ₹1,130 Cr. (or $11.3 billion), slightly higher than its valuation in its last funding round in 2022. Here, we’ll break down all the essentials of the Swiggy IPO, covering its structure, objectives, GMP trends, company background, financial performance, and a SWOT analysis to help you make an informed decision.
The Swiggy IPO will be a book-built issue of ₹11,327.43 crore, combining a fresh issue of shares totaling ₹4,499 crore and an OFS component worth ₹6,828.43 crore. With a price band set at ₹371-₹390 per share, the IPO will value Swiggy at around $11.3 billion. Allotments are expected to be finalized on November 11, 2024, with the shares slated for listing on November 13, 2024, on the NSE and BSE.
Allocation of Shares
Swiggy’s IPO offers a 10% reservation for retail investors and allocates 7.5 lakh shares for eligible employees. The minimum investment required for retail investors starts with 38 shares per lot, amounting to a minimum of ₹14,820. High net-worth investors (HNIs) can apply in multiples of 14 lots for a minimum investment of ₹207,480, while large investors can apply for a minimum of 68 lots, amounting to ₹1,007,760.
Qualified Institutional Buyers (QIBs)
Not less than 75% of the Net Issue
Non-Institutional Investors (HNIs)
Not more than 15.00% of the Net Issue
Retail Investors
Not more than 10% of the Net Issue
Employee Reservation
Up to 750,000 shares with a discount of ₹25 per share
Swiggy aims to use the funds raised from this IPO to support various strategic objectives:
Debt Reduction: A portion of the proceeds will be used to repay or prepay borrowings for Scootsy and its subsidiary.
Expansion of Dark Stores: Swiggy plans to invest in its Quick Commerce division, mainly to expand its dark store network, which supports Swiggy Instamart’s quick grocery delivery.
Investment in Technology: Swiggy will fund infrastructure upgrades to improve efficiency and customer experience.
Marketing and Brand Promotion: A portion of the funds will be used for brand promotion to strengthen Swiggy’s presence in various segments.
Acquisitions and Growth: Swiggy also intends to explore inorganic growth opportunities through acquisitions and other corporate activities.
Grey Market Premium (GMP)
The IPO has generated notable interest, although the grey market premium (GMP) has fluctuated amid market volatility. The Swiggy IPO is trading at a GMP of ₹20 per share, suggesting a modest 5.13% potential listing gain above the upper price band of ₹390. It’s worth noting that this premium had reached ₹25 per share before the Muhurat trading session, indicating a degree of speculative interest in the unofficial market. Source: Livemint
Company Overview
Founded in 2014, Swiggy has become one of India’s leading on-demand delivery platforms. The company started with food delivery but has since diversified to include grocery delivery (Instamart), restaurant reservations (Dineout), and event bookings (SteppinOut). Swiggy’s platform also supports B2B logistics through services like Swiggy Genie and offers an extensive supply chain network for retailers.
Today, Swiggy operates in five main areas:
Food Delivery: Core business, connecting customers with thousands of restaurants.
Out-of-Home Consumption: Restaurant reservations, event booking, and dining-out options.
Quick Commerce: Fast grocery delivery via Instamart, facilitated by dark stores.
Supply Chain and Distribution: B2B delivery solutions for retailers and wholesalers.
Platform Innovation: Services like Swiggy Genie offer hyperlocal deliveries and product pickups.
Financial Highlights
Swiggy’s financial growth has shown strong momentum despite its ongoing efforts to reach profitability.
For the fiscal year ending March 2024, Swiggy’s revenue grew by 34%, while its profit after tax (PAT), though still negative, improved by 44% over the prior fiscal year. Quick commerce and logistics have been key revenue drivers, with both segments showing significant promise as Swiggy works to strengthen its core areas and improve its financial stability.
Diverse Service Offering: Swiggy offers more than just food delivery; it also offers grocery, dining-out, and event booking services, appealing to a broad consumer base.
Strong Brand Recognition: Swiggy is a household name in urban India, benefiting from its reputation and extensive user base.
Solid Partnerships and Investors: With SoftBank and other major investors backing, Swiggy has access to resources for expansion and innovation.
Loss-Making Status: Swiggy continues to report net losses, which could pose concerns for investors focused on profitability.
High Dependency on Urban Markets: While Swiggy is prevalent in urban areas, penetration in smaller towns and rural regions remains low, limiting its growth potential in these areas.
High Operating Costs: Delivery infrastructure and dark store operations are costly, which may weigh on profitability in the short term.
OPPORTUNITIES
THREATS
Quick Commerce Growth: India’s quick commerce market is expected to grow at a CAGR of 148-169% from 2018 to 2023, offering significant growth potential for Swiggy Instamart.
Untapped Rural Markets: Expanding services to rural and smaller towns could broaden Swiggy’s customer base.
Inorganic Growth Potential: The IPO funds will provide capital for acquisitions, giving Swiggy options for growth through strategic acquisitions.
Intense Competition: Competitors like Zomato, Dunzo, and Blinkit continue to vie for market share in the food and quick commerce sectors.
Regulatory Risks: Changing regulations in data protection, labor laws, and online services could impact Swiggy’s operations.
Volatile Market Conditions: Economic factors, like inflation and consumer spending shifts, may affect demand for Swiggy’s services.
Conclusion
Swiggy’s upcoming IPO represents a notable event for investors interested in India’s dynamic food tech and quick commerce sectors. With its growing user base, solid financial trajectory, and diverse offerings, Swiggy aims to leverage this public offering to fuel its next growth phase. However, the competitive landscape and Swiggy’s path to profitability will be key factors to monitor as it embarks on this journey.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Sagility India is set to launch its IPO on 5 November. This significant event allows investors to engage with a leading healthcare services provider. With a price band of ₹28 to ₹30 per share and a total issue size of ₹2,106.60 crore, this IPO is expected to draw considerable interest.
As you consider your investment options, it’s essential to understand the key aspects of Sagility India’s financial health and growth potential.
Here’s a lowdown on the IPO details and aspects investors must consider before deciding
Sagility India Limited, earlier called Berkmeer India Private Limited, provides technology-enabled solutions for U.S. healthcare payers and providers, offering services such as claims management, care management, and revenue cycle operations. The company operates across five international service locations, including India, the Philippines, the U.S., Jamaica, and Colombia.
Growth Story
Sagility India has grown significantly, expanding its client base and service offerings. In FY 2024, the company processed 105 million claims and managed 75 million interactions, adding 22 new clients. A skilled global workforce and recognition from industry analysts like Avasant and Everest support this growth.
Financial Growth
Sagility India’s financial performance has been robust, with the total income increasing from ₹423.6 crores in March 2023 to ₹478.15 crores in March 2024. The profit after tax (PAT) also saw a rise from ₹143 crore in FY2023 to ₹228 crore FY2024. The company’s earnings per share (EPS) and return on net worth (RoNW) have also improved, reflecting higher profitability and efficient operations.
Sagility India is raising funds with the aim to list its Equity Shares on Stock Exchanges, enhancing visibility and credibility. The company’s objective also includes facilitating the Offer for Sale of up to 70.2 crore cshares by the promoter selling shareholder, Sagility BV.
GMP
The Grey Market Premium (GMP) for Sagility’s IPO stands at ₹3. Given the price band of ₹30, the estimated listing price is ₹33 (price band + GMP). This indicates a potential gain of 10% per share.
Anchor Investors:
The three main investors in Sagility India include:
360 ONE (through Special Opportunities Fund – Series 8 and Monopolistic Market Intermediaries Fund): 1.07% stake for ₹150 crore.
Avendus Future Leaders Fund II: 0.9% stake for ₹126 crore.
Adani Properties (Adani Group): 0.14% shares for ₹20 crore.
Other investors who acquired 0.5% shares worth ₹70 crore collectively include Elpro International, Jasub Property Holdings, Jaya Chandrakant Gogri and Rashesh Chandrakant Gogri, PAM Family Trust, Shradha Family Trust, Unmaj Ventures, Uma Priyadarshini Kollareddy and Kollareddy Ranganayakamma.
Listing
The shares are expected to be listed on the BSE and NSE on November 12, 2024.
Shares Reservation
75% of the issue is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors.
SWOT analysis of Sagility India
STRENGTHS
WEAKNESSES
Deep domain expertise in healthcare, particularly revenue cycle management and clinical coding.
Robust technology infrastructure and digital tools to enhance efficiency and accuracy.
A skilled and experienced workforce, including certified medical coders and registered nurses.
Established relationships with US-based healthcare providers and payers.
Significant reliance on the US healthcare market, exposing the company to regulatory changes and economic fluctuations.
Intense competition from other healthcare IT companies, both domestic and international
The risk of data breaches and cyberattacks could damage the company’s reputation and lead to financial losses.
OPPORTUNITIES
THREATS
Leveraging emerging technologies like AI and machine learning to improve efficiency and accuracy.
Expanding service offerings to include value-added services, such as analytics and consulting.
Exploring opportunities for global expansion, particularly in markets with similar healthcare systems
Changes in US healthcare regulations, such as HIPAA and ICD-10.
Increasingly sophisticated cyberattacks could compromise the company’s systems and data.
US economic downturns could reduce healthcare spending and impact the company’s revenue.
With Sagility India launching its IPO, investors can consider investing in the healthcare sector. The company’s focus on technology-enabled solutions and its experienced workforce position it well to capitalize on the evolving healthcare landscape.
However, potential investors should carefully consider the risks associated with the company’s reliance on the US healthcare market and the possible impact of regulatory changes and economic fluctuations. Before making an investment decision, conducting thorough research or consulting with a financial advisor to assess the risks and rewards involved is advisable.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Are you one of the investors who eagerly subscribed to Waaree Energies’ IPO? If so, you’re not alone. The initial public offering of Waaree Energies Ltd, a leading solar PV modules manufacturer, has received an overwhelming response, breaking records with the highest-ever number of applications for an IPO. Following this remarkable demand, Waaree Energies has finalized its IPO allotment, and shares are set to list at a significant premium in the grey market.
Here’s a closer look at the key details, including the IPO’s record-breaking subscriptions, the premium in the grey market, and how you can check your allotment status.
Record-Breaking Waaree Energies IPO Subscription
The Waaree Energies IPO saw stellar demand from investors across categories. The IPO was open for subscription from October 21 to October 23, during which it received bids totaling an impressive 160.91 crore equity shares, significantly higher than the 2.10 crore shares available. This demand resulted in a total oversubscription of 76.34 times, amounting to approximately ₹2.41 lakh crore in bids.
This huge response was primarily driven by institutional investors, with the Qualified Institutional Buyers (QIBs) portion being oversubscribed 208.63 times. Non-institutional investors (NII) also showed strong interest, with their category subscribed 62.49 times.
Retail investors, too, demonstrated substantial participation, with a 10.79 times subscription in the retail category. This high subscription reflects the strong interest in the renewable energy sector and Waaree Energies’ established presence in the Indian solar market.
Waaree Energies IPO GMP Today
In the grey market, Waaree Energies shares are trading at a substantial premium, indicating positive investor sentiment. Today’s grey market premium (GMP) stands at ₹1,590 per share, suggesting that the shares are trading at approximately ₹3,061 apiece—about 106% above the IPO price of ₹1,503 per share. This surge in GMP signals a strong debut for Waaree Energies shares in the unlisted market and reflects high expectations for the company’s performance post-listing.
Checking Waaree Energies IPO Allotment Status
With the allotment finalized, investors can now check if they have secured shares in the IPO. The shares are expected to be credited into the demat accounts of successful applicants on October 25, and refunds for unsuccessful bids will be initiated on the same day. To check your allotment status online, you can use the BSE website, the NSE website, or the IPO registrar’s portal, Link Intime India Private Ltd. Here’s how:
Checking Allotment Status on the BSE
1. Visit the BSE website.
2. Select ‘Equity’ under Issue Type.
3. In the dropdown menu for Issue Name, choose ‘Waaree Energies Limited.’
4. Enter your Application Number or PAN.
5. Verify by selecting ‘I am not a robot’ and click ‘Search.’
Your allotment status will then be displayed on the screen.
Checking Allotment Status on Link Intime
1. Visit the Link Intime India website: [Link Intime IPO Page](https://linkintime.co.in/initial_offer/public-issues.html).
2. Select ‘Waaree Energies Limited’ in the dropdown for Select Company.
3. Choose from PAN, Application Number, DP ID, or Account Number.
4. Enter the necessary details based on your selection.
5. Click on ‘Search’ to view your allotment status.
Details of Waaree Energies IPO
Waaree Energies Ltd launched its IPO with a price band of ₹1,427 to ₹1,503 per share, aiming to raise ₹4,321.44 crore at the upper end. The company’s goal for the funds includes establishing a 6 GW facility for ingot wafer, solar cell, and PV module manufacturing in Odisha, alongside general corporate purposes.
The IPO consists of a fresh issue of 2.4 crore equity shares, which raised ₹3,600 crore, and an offer for sale (OFS) of 48 lakh shares, contributing ₹721.44 crore. With a market valuation projected at over ₹4,300 crore post-issue, Waaree Energies is set to solidify its footprint in India’s renewable energy sector. Source: SEBI
Waaree Energies, one of India’s prominent solar PV module manufacturers, operates five manufacturing facilities in Surat, Tumb, Nandigram, and Chikhli in Gujarat and the IndoSolar Facility in Noida, Uttar Pradesh. As of June 30, 2023, the company’s production capacity stood at 12 GW, underscoring its extensive scale in the PV module industry.
Financially, Waaree Energies has demonstrated good performance. For FY24, the company’s revenue grew by 69% year-on-year to ₹11,398 crore, while its profit after tax surged to ₹1,274 crore, more than double compared to the previous fiscal year. This financial strength likely contributed to the strong response to the IPO.
Following the finalization of the IPO allotment, Waaree Energies shares are set to list on both the BSE and NSE, with a likely listing date of October 28. Investors who receive allotments can anticipate their shares to be credited to their demat accounts on October 25. Given the high GMP and the IPO’s substantial oversubscription, analysts believe Waaree Energies may have a strong debut on the stock exchange.
With its significant market presence, ambitious expansion plans, and positive reception in the grey market, Waaree Energies is positioned as a key player in India’s renewable energy landscape. Investors can eagerly await the official listing and watch for further developments as the company scales its operations to meet India’s growing demand for clean energy.
*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
This week, the Indian IPO market is buzzing with excitement as nine IPOs are set to open, raising a combined ₹10,566 crores. Four are mainboard IPOs, while five are SME IPOs.
So far, two mainboard IPOs and one SME IPO have opened for subscription and are generating significant interest. Waaree Energies, for example, was subscribed 4.2 times on its second day of bidding. With so many IPOs in the pipeline, investors are closely watching to see which will be the biggest winners.
Ready to know more about these upcoming ipos? Let’s go
On the second day of bidding, Waaree Energies’ initial public offering (IPO) was subscribed to an impressive 4.2 times. Retail individual and non-institutional investors (NIIs) have shown strong interest in the issue, with subscription rates of 3.8 times and 10.40 times, respectively. The qualified institutional buyers (QIBs) segment is also seeing good traction. Source: Economic Times
2. Deepak Builders and Engineering IPO Subscription Status
Deepak Builders IPO received a subscription of 4.12 times on the first day of bidding. Retail investors showed the most interest, with a subscription rate of 6.12 times. Non-institutional investors subscribed 4.26 times, while qualified institutional buyers subscribed 52%. Source: Livemint
3. Godavari Biorefineries Ltd. IPO
Godavari Biorefineries Limited is offering a book-built issue of ₹544.75 crores. The IPO includes a fresh issue of ₹325.00 crores and an OFS(offer for sale) of ₹229.75 crores. The shares will be listed on both BSE and NSE, with the allotment expected on October 25th and the listing tentatively set for October 30th. The minimum lot size is 42 shares, requiring a minimum investment of ₹14,784 for retail investors. For HNIs, the minimum lot size investment is ₹206,976 for sNII and ₹1,005,312 for bNII.
Godavari Biorefineries plans to use the IPO proceeds for:
Repayment or prepayment of outstanding borrowings
General corporate purposes
GMPGodavari Biorefineries Ltd IPO
The current grey market premium (GMP) for Godavari Biorefineries is ₹0. This suggests that the company’s shares are not trading at a premium in the grey market and are expected to be listed flat at the IPO price.
Company Overview
Godavari Biorefineries Limited manufactures ethanol-based chemicals. It operates an integrated biorefinery with a capacity of 570 KLPD for ethanol production. The company’s product portfolio includes bio-based chemicals, sugar, various grades of ethanol, and power. These products are used in food, beverages, pharmaceuticals, flavors and fragrances, power, fuel, personal care, and cosmetics. The company has three research and development facilities registered with the DSIR and serves customers in over twenty countries.
Financial Strength
Godavari Biorefineries has shown mixed financial performance, with revenue decreasing by 15.92% and profit after tax (PAT) dropping by 37.37% between FY23 and FY24.
SWOT Analysis of Godavari Biorefineries Ltd.
STRENGTHS
WEAKNESSES
Integrated Biorefinery: The company’s integrated biorefinery allows for efficient production and utilization of byproducts.
Diverse Product Portfolio: Godavari Biorefineries offers various ethanol-based chemicals that cater to multiple industries.
Global Presence: The company is present in over 20 countries, indicating strong export markets.
Dependence on Raw Materials: The company’s operations may depend on the availability and cost of raw materials. Price Fluctuations: Fluctuations in the prices of ethanol and other chemicals can impact profitability. Competition: The market for ethanol-based chemicals is competitive, with other players offering similar products.
OPPORTUNITIES
THREATS
Growing Demand for Bio-Based Products: Increasing awareness of sustainability and the need for renewable products can drive demand.
Product Diversification: Godavari Biorefineries can explore opportunities to expand its product range or enter new markets.
Government Incentives: Government policies promoting renewable energy and biofuels can create favorable conditions for the company..
Economic Downturns: A slowdown in the global economy can impact demand for ethanol-based chemicals.
Regulatory Changes: Changes in government regulations related to biofuels or environmental standards can affect operations.
Technological Advancements: New technologies or alternative materials could impact the demand for ethanol-based products.
4. Afcons Infrastructure Ltd. IPO
Afcons Infrastructure Limited is offering a book-built issue of ₹5,430.00 crores. The IPO includes a fresh issue of ₹1,250.00 crores and an offer to sell ₹4,180.00 crores. The shares will be listed on both BSE and NSE, with the allotment expected on October 25th and the listing tentatively set for November 4th. The minimum lot size is 32 shares, requiring a minimum investment of ₹14,816 for retail investors. For HNIs, the minimum lot size investment is ₹207,424 for sNII and ₹1,007,488 for bNII.
Afcons Infrastructure plans to use the IPO proceeds for:
Funding capital expenditure for the purchase of construction equipment
Funding long-term working capital requirements
Prepayment or scheduled repayment of outstanding borrowings
GMP Afcons Infrastructure Ltd IPO
The current grey market premium (GMP) for Afcons Infrastructure is ₹70. This suggests that the company’s shares are trading at a premium of ₹70 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹533, which is 15.12% higher than the IPO price.
Company Overview
Afcons Infrastructure Limited is an infrastructure engineering and construction company that offers services in marine and industrial projects, surface transport projects, urban infrastructure projects, hydro and underground projects, and oil and gas projects. The company has a presence in Asia, Africa, and the Middle East and has completed 76 projects across 15 countries. As of September 30, 2023, the company has 67 active projects across 13 countries, totaling an order book of ₹348.88 billion.
Financial Strength
Afcons Infrastructure has shown steady financial growth, with revenue increasing by 6% and profit after tax (PAT) rising by 9% between FY23 and FY24.
SWOT Analysis of Afcons Infrastructure
STRENGTHS
WEAKNESSES
Diverse Service Offerings: Afcons Infrastructure provides various construction services that cater to various infrastructure projects.
Global Presence: The company operates in multiple countries, indicating a strong market presence.
Order Book: Afcons has a substantial order book, indicating a pipeline of future projects.
Experienced Team: The company likely has a team with extensive experience in the construction industry.
Competition: The construction industry is highly competitive, with numerous players operating
Dependence on Government Projects: The company’s revenue may depend on government contracts and infrastructure projects.
Fluctuations in Material Costs: Changes in the cost of construction materials can impact profitability.
OPPORTUNITIES
THREATS
Infrastructure Development: Government initiatives for infrastructure development can create opportunities for construction companies.
Urbanization and Industrialization: The growing urbanization and industrialization in India and other countries can drive demand for infrastructure projects.
Expansion into New Markets: Afcons Infrastructure can explore opportunities to expand its operations to new regions or diversify into other sectors.
Slowdown in Economy: A sluggish economy can significantly reduce the need for construction services.
Regulatory Changes: Changes in government regulations or policies can affect the construction industry.
Geopolitical Risks: Global political instability or conflicts can disrupt projects or increase costs.
5. Premium Plast IPO Subscription Status:
Premium Plast IPO was oversubscribed by 3.70 times on its first day. Retail individual investors were particularly enthusiastic, subscribing 7.14 times. Non-institutional investors subscribed 0.88 times, and qualified institutional buyers subscribed 1.00 times. Source: IPO Watch
6. Danish Power Ltd IPO
Danish Power Limited is offering a book-built issue of ₹527.60 crores, the biggest SME IPO this year. The IPO is scheduled to be listed on NSE SME, with the allotment expected on October 25th and the listing tentatively set for October 29th. The minimum lot size is 300 shares, requiring a minimum investment of ₹114,000 for retail investors and ₹228,000 for HNIs.
Funding capital expenditure for expanding the manufacturing facility
Funding working capital requirements
Repayment of outstanding borrowings
General corporate purposes
GMP of Danish Power Ltd
The current grey market premium (GMP) for Danish Power is ₹265. This suggests that the company’s shares are trading at a premium of ₹265 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹645, which is 69.74% higher than the IPO price.
Company Overview
Danish Power Limited manufactures various types of transformers, including inverter duty transformers for use in renewable power projects. It also produces oil and dry-type power and distribution transformers, control relay panels, and substation automation services. The company operates two manufacturing plants in Jaipur and is certified with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
Financial Strength
Danish Power has shown steady financial growth, with revenue increasing to ₹335 crore and profit after tax (PAT) rising to ₹38.07 crore in FY24.
SWOT Analysis of Danish Power Ltd.
STRENGTHS
WEAKNESSES
Product Diversity: Danish Power offers a range of transformers and electrical equipment catering to various industries.
Manufacturing Capabilities: The company has two manufacturing plants and is certified with ISO standards, ensuring quality and efficiency.
Strong Customer Base: Danish Power has a client base that includes reputable companies in the renewable energy and power sectors.
Geographic Concentration: The company’s operations may be concentrated in a specific region, limiting its growth potential.
Competition: The transformers and electrical equipment market is competitive, with numerous players offering similar products.
Dependence on Renewable Energy: The company’s revenue may depend on the growth and development of the renewable energy sector.
OPPORTUNITIES
THREATS
Growing Demand for Renewable Energy: The increasing focus on renewable energy can drive demand for transformers and electrical equipment.
Product Innovation: Danish Power can explore opportunities to develop new or innovative products to stay competitive.
Expansion into New Markets: The company can expand its operations to new regions or diversify into other segments of the electrical equipment market.
Recession Risks: A downturn in economic activity may lower the demand for electrical equipment.
Fluctuations in Raw Material Prices: Changes in the cost of raw materials used in transformer manufacturing can affect profitability.
Technological Advancements: New technologies or alternative energy sources could impact the demand for traditional transformers.
7. United Heat Transfer Ltd. IPO
United Heat Transfer Limited offers a book-built issue of ₹118.00 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on October 25th and the listing tentatively set for October 29th. The minimum lot size is 2000 shares, requiring a minimum investment of ₹118,000 for retail investors and ₹236,000 for HNIs.
United Heat Transfer plans to use the IPO proceeds for:
Repayment of debt
Funding working capital requirements
General corporate purposes
GMP of United Heat Transfer Ltd.
The current grey market premium (GMP) for United Heat Transfer is ₹10. This suggests that the company’s shares are trading at a premium of ₹10 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹69, which is 16.95% higher than the IPO price.
Company Overview
United Heat Transfer Limited manufactures heat exchangers, pressure vessels, and process flow skids. Their products are used in various industries, including petrol and diesel engines, maritime vessels, mining trucks, and heavy machinery. The company operates two manufacturing units in Nashik and has approximately 105 employees.
Financial Strength
United Heat Transfer has shown mixed financial performance, with revenue decreasing by 9% and profit after tax (PAT) rising by 195% between FY23 and FY24.
SWOT Analysis of United Heat Transfer Ltd.
STRENGTHS
WEAKNESSES
Product Range: United Heat Transfer offers a diverse range of products that cater to various industries.
Manufacturing Capabilities: The company has modern manufacturing facilities and a skilled workforce.
Customer Base: United Heat Transfer likely has a customer base of reputable industry companies.
Geographic Concentration: The company’s operations may be concentrated in a specific region, limiting its growth potential.
Dependence on Specific Industries: Reliance on industries such as petrol and diesel engines can make the company vulnerable to fluctuations in those sectors.
Competition: The heat exchangers and process equipment market is competitive, with numerous players offering similar products.
OPPORTUNITIES
THREATS
Growing Industrialization: The increasing industrialization in India and other emerging markets can drive demand for the company’s products.
Technological Advancements: New technologies or advancements in heat transfer applications can create growth opportunities.
Product Diversification: United Heat Transfer can explore opportunities to expand its product range or enter new markets.
Impact of Economic Slumps: Economic slowdowns can lead to a drop in industrial machinery purchases.
Rising Material Costs: Increases in the cost of raw materials used in manufacturing can affect profitability.
Regulatory Changes: Changes in government regulations or industry standards can impact the company’s operations.
8. OBSC Perfection Ltd. IPO
OBSC Perfection Limited is offering a book-built issue of ₹120.00 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on October 25th and the listing tentatively set for October 29th. The minimum lot size is 1200 shares, requiring a minimum investment of ₹120,000 for retail investors and ₹240,000 for HNIs.
OBSC Perfection plans to use the IPO proceeds for:
Funding capital expenditure for expanding manufacturing facilities
Funding working capital requirements
General corporate purposes
GMP of OBSC Perfection Ltd.
The current grey market premium (GMP) for OBSC Perfection is ₹0. This suggests that the company’s shares are not trading at a premium in the grey market and are expected to be listed flat at the IPO price.
Company Overview
OBSC Perfection Limited is a precision metal components manufacturer offering various products for various industries. The company operates four manufacturing facilities, three in Pune and one in Chennai. Their products are used in the automotive, defense, marine, and telecom infrastructure sectors.
Financial Strength
OBSC Perfection has shown strong financial growth, with revenue increasing by 20% and profit after tax (PAT) rising by 167% between FY23 and FY24.
SWOT Analysis of OBSC Perfection Ltd.
STRENGTHS
WEAKNESSES
Diverse Product Range: OBSC Perfection offers a wide range of precision metal components, catering to various industries.
Manufacturing Expertise: The company has manufacturing facilities equipped with modern machinery and technology.
Customer Base: OBSC Perfection has a customer base that includes leading manufacturers in the automotive, defense, marine, and telecom sectors.
Geographic Concentration: The company’s operations may be concentrated in a specific region, limiting its potential for growth.
Dependence on Automotive Industry: Reliance on the automotive sector can make the company vulnerable to fluctuations in that industry.
Competition: The market for precision metal components is competitive, with numerous players offering similar products.
OPPORTUNITIES
THREATS
Growing Automotive Industry: The growing automotive industry in India can drive demand for precision metal components.
Diversification into New Sectors: OBSC Perfection can explore opportunities to expand into new sectors or industries.
Product Innovation: The company can develop new or innovative products to differentiate itself from competitors.
Market Slowdown: A weaker economy can directly impact the demand for industrial components.
Rising Material Costs: Increases in the cost of raw materials can affect profitability.
Technological Advancements: New technologies or manufacturing processes could impact the demand for traditional metal components.
9. Usha Financial Services IPO
Usha Financial Services Limited is offering a book-built issue of ₹168.00 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on October 25th and the listing tentatively set for October 29th. The minimum lot size is 800 shares, requiring a minimum investment of ₹134,400 for retail investors and ₹268,800 for HNIs.
Usha Financial Services plans to use the IPO proceeds for:
Augmenting the capital base of the company
General corporate purposes
GMPUsha Financial Services IPO
The current grey market premium (GMP) for Usha Financial Services is ₹45. This suggests that the company’s shares are trading at a premium of ₹45 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹213, which is 26.79% higher than the IPO price.
Company Overview
Usha Financial Services Limited is a non-banking finance company that provides lending solutions to other NBFCs, corporates, MSMEs, and individuals, focusing on women entrepreneurs. They also offer electric vehicle financing. The company has an AUM of ₹30,695.76 lakhs and a net worth of ₹10,602.63 lakhs.
Financial Strength
Usha Financial Services has shown steady financial growth, with revenue increasing by 38% and profit after tax (PAT) rising by 32% between FY23 and FY24.
SWOT Analysis of Usha Financial Services
STRENGTHS
WEAKNESSES
Diverse Product Offerings: Usha Financial Services offers a range of financial products, catering to various customer segments.
Focus on Women Entrepreneurs: The company’s focus on lending to women entrepreneurs can differentiate it from competitors.
Financial Performance: Usha Financial Services has demonstrated strong financial growth in recent years.
Dependence on the NBFC Sector: The company’s revenue may be dependent on the performance of other NBFCs.
Competition: The NBFC sector is competitive, with numerous players offering similar financial services.
Regulatory Risks: Changes in government regulations or policies related to the NBFC sector can impact the company’s operations.
OPPORTUNITIES
THREATS
Growing Demand for Financial Services: The increasing demand for financial services, especially in rural and underserved areas, can create growth opportunities.
Digitalization: Leveraging technology and digital platforms can enhance customer experience and efficiency.
Expansion into New Markets: Usha Financial Services can explore opportunities to expand its operations to new regions or diversify into other financial products.
Economic Deceleration: A slowing economy can curb the demand for financial services.
Interest Rate Fluctuations: Changes in interest rates can affect the company’s borrowing costs and profitability.
Credit Risk: The company faces the risk of loan defaults or non-payment from borrowers.
Conclusion:
With nine IPOs in the market this week, investors have a variety of options. The strong subscription for Waaree Energies and Deepak Builders suggests significant investor interest.
However, it’s important to conduct thorough research and consider your risk tolerance before making any investment decisions. The performance of these IPOs in the secondary market will provide valuable insights into the current investor sentiment and the overall health of the Indian IPO market.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Hyundai Motor India (HMI) has dominated the automotive market since its 1996 launch in India. Understandably, when the country’s second-largest car manufacturer’s (after Maruti) IPO launched on 15 October, it was met with much anticipation. However, the ₹27,870 crore IPO, the largest in India’s history, saw merely 0.18 times subscription on its opening day. While the subscription stood at 42% on Day 2, it shot up marginally to 51% on the closing day, with its GMP sinking to below 1%. Source: Mint
Market experts are attributing the lukewarm response to many factors. Here’s a lowdown on what these are and how the IPO has performed so far:
The IPO has a price range of ₹1,865 to ₹1,960 per share
The NII portion, comprising high-net-worth individuals, was subscribed 0.13 times, while retail investors subscribed 0.26 times. The portion for employees (discounted price of ₹186 per share) was subscribed 0.8 times (80%).
35% of share reservation is for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for NIIs.
₹8,315 crore (about 30% of the IPO size) was raised from 225 anchor investors, including funds owned by the Singapore government
However, despite the initial buzz, Hyundai’s IPO witnessed an unexpected slowdown. Here are the top reasons why.
4 Factors Why Hyundai IPO Didn’t Shift into Top Gear
High Offer Price
One of the biggest concerns investors have raised is the IPO pricing. Many analysts believe the offer price was at the higher end of the spectrum, discouraging potential buyers. Indian investors have become accustomed to a fair IPO bump, and the prospect of limited gains or losses has reduced the enthusiasm.
A more attractive pricing could have garnered wider support from retail and institutional investors, creating a positive buzz around the listing. Instead, the high valuation may have deterred many potential buyers, who may now wait for a more favorable entry point.
Massive Cash Outflow to Korea
Hyundai Motor India’s substantial dividend payouts to its South Korean parent company have also raised investor concerns. The large amount of money transferred from India has created a negative perception, particularly when the government actively promotes foreign direct investment (FDI) in the automotive sector.
While the company has clarified the legal nature of these transactions, the sheer amount of the cash outflow has raised questions. A more transparent communication strategy could have helped minimize concerns and highlight the positive aspects of these transactions, including Hyundai’s success in the Indian market.
Concerns About Financial Stability
The decrease in cash and bank balances due to dividend payments has also increased concerns about Hyundai’s expansion plans. Investors may be worried that the company may have to rely heavily on external borrowings to fund its future growth, potentially impacting its financial performance and stability.
While the company’s balance sheet is light on assets and the cash flow from operations is robust, which could mitigate financial stability concerns, a more proactive communication strategy would have been beneficial in addressing investor anxieties and maintaining confidence.
Prioritizing South Korean Interests
There is a perception that Hyundai Motor Company’s primary motivation for the IPO was to improve its valuation back home in South Korea. This suggests that the company may have prioritized its interests over those of Indian investors.
While the IPO could have been a win-win situation for both parties, the focus on maximizing benefits for South Korean shareholders may have alienated Indian investors. A more balanced approach considering the interests of domestic and foreign investors would have been more conducive to the IPO’s success.
Conclusion
Hyundai was among India’s most anticipated IPOs. However, its slow performance offers valuable lessons for future issuers. A well-thought-out pricing strategy, transparent communication, and a focus on aligning the interests of all stakeholders are crucial for attracting investor interest and ensuring the success of an IPO. By addressing these mistakes, Hyundai can learn from this experience and position itself for future growth in the Indian market.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
FAQ
Why did Hyundai Motor India’s IPO not receive the expected subscription levels?
Several factors contributed to the slow subscription for Hyundai’s IPO. These include the IPO’s perceived high price, the company’s substantial dividend payouts to its South Korean parent, concerns about its financial stability, and the perception that Hyundai Motor Company prioritized its interests over those of Indian investors.
What was the subscription rate for Hyundai’s IPO on Day 3?
The subscription rate for Hyundai’s IPO on Day 3 was 51%. Source: cnbcTV 18.com
How much did Hyundai Motor India raise from anchor investors?
Hyundai Motor India raised ₹8,315 crore (about 30% of the IPO size) from 225 anchor investors.
What’s Hyundai’s IPO subscription among different investor categories?
The subscription for Hyundai’s IPO was moderate across all investor categories. Retail investors subscribed 0.26 times, qualified institutional buyers (QIBs) subscribed 0.41 times, and non-institutional investors (NIIs) subscribed 0.13 times.
What lessons can be learned from Hyundai’s IPO experience?
Hyundai’s IPO experience highlights the importance of fair pricing, transparent communication, and balancing the interests of all stakeholders. By addressing these factors, future issuers can improve their chances of attracting investor interest and ensuring the success of their IPOs.
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What is an Investment Advisory Firm?
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Do we have SEBI registration as an Investment Advisory?
An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.
Why choose a SEBI Registered Investment Advisor?
An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.
What is the Role of an Investment/Stock Market Advisory Firm in India?
An investment advisory firm is a company that helps investors make decisions about buying and selling securities (like stocks) in exchange for a fee. They can advise clients directly or provide advisory reports and other publications about specific securities, such as high growth stock recommendations. Some firms use both methods, like Research & Ranking, India’s leading stock advisory company, specializing in smart investments and long-term stocks since 2015.
Is investment advisory the same as wealth management?
