Zaggle Prepaid Ocean Services and Samhi Hotels to list on bourses in T+3 timeline on September 22
Zaggle Prepaid Ocean Services and Samhi Hotels are set to list their shares on the stock exchanges on September 22, 2023, in the T+3 timeline. This is a significant development, as it indicates that companies are gradually moving into the new IPO listing timeline announced by the Securities and Exchange Board of India (Sebi).
The implementation of the new T+3 timeline is voluntary for companies launching IPOs since September 1, 2023, but it will be compulsory for all IPOs opening with effect from December 1, 2023. Under the new timeline, IPO shares are listed on the stock exchanges three working days after the closure of the public issue, instead of six working days as was the case earlier.
Zaggle Prepaid Ocean Services is a business spend management software and services provider, while Samhi Hotels is a branded hotel ownership and asset management platform. Both companies raised significant capital through their IPOs, with Zaggle raising Rs 563.38 crore and Samhi raising Rs 1,370.1 crore.
The listing of Zaggle and Samhi Hotels in the T+3 timeline is a positive development for the Indian IPO market. It shows that companies are willing to adopt the new timeline, and it is also a sign of increasing efficiency in the IPO process.
- 22 Sep
Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a weak debut on the stock exchanges, listing at a premium of just 6.75% over the IPO price. Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth.
- 22 Sep
Signature Global IPO Subscribed 11.88 Times on Final Day
The Signature Global IPO was subscribed 11.88 times on the final day of bidding. The company will use the proceeds to repay debt and for land acquisitions and general corporate purposes. The IPO is expected to list on October 4, but this may change due to the new timeline of T+3.
- 22 Sep
Sai Silks IPO Oversubscribed 4.4 Times on Final Day of Bidding
Sai Silks IPO was oversubscribed 4.4 times on the final day of bidding, with qualified institutional buyers and high networth individuals supporting the issue on closing day. The net fresh issue proceeds will be utilized by the company mainly for the setting up of 30 new stores, two warehouses, working capital requirements and repaying debts. The trading in its equity shares will commence with effect from October 4, as per the IPO schedule.
- 22 Sep
Pharma company Valiant Laboratories to go public on September 27
Pharma company Valiant Laboratories is going public on September 27 at a price band of Rs 133-140 per share. The company plans to raise Rs 152.46 crore via the IPO. Proceeds will be used to fund the expenditure for setting up a manufacturing facility for speciality chemicals and for working capital requirements and general corporate purposes. Valiant Laboratories is a Mumbai-based API and bulk drug manufacturing company with a focus on Paracetamol. It is owned by the promoters including Dhanvallabh Ventures LLP, which holds 62.5 percent shareholding. Valiant Organics, the listed entity on the BSE and NSE, is the promoter of Dhanvallabh Ventures LLP with 73.15 percent stake.
- 21 Sep
Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am. The company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market. However, investors who are considering investing in Unihealth Consultancy should carefully consider the company's fundamentals, the current market conditions, and their own risk appetite before making a decision.