Tag: IPO – News

Zaggle Prepaid Ocean Services stock made a muted debut on bourses on September 22, listing at a premium of just 0.6% over the IPO price. Analysts have recommended selling the stock on the opening day, citing its high P/E valuation, debt-to-equity ratio, and negative cash flow.

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.

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.

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.

Manoj Vaibhav Gems 'N' Jewellers' IPO was subscribed 13% on Day 1. Retail investors bought 25% of their allotted quota of shares and high networth individuals (HNIs) 5%. The company will use fresh issue proceeds for setting up eight showrooms, and the remaining for general corporate purposes.

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.

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.

Signature Global's IPO has received decent response from investors so far, with HNIs and retail investors being the most aggressive bidders. However, analysts advise investors to be cautious due to the company's history of losses and the fluctuating nature of the real estate industry.

EMS shares closed with 33% gains on their listing day, despite a bearish market sentiment. The company has a proven track record of successful project execution and a strong order book. It also has a healthy financial position. The strong listing performance of EMS shares is a positive sign for the company and its investors.

Zaggle Prepaid Ocean Services and Samhi Hotels will list their shares on bourses in T+3 timeline on September 22, 2023. This shows that companies are gradually moving into the new IPO listing timeline announced by Sebi. The listing of Zaggle and Samhi Hotels in the T+3 timeline is a positive development for the Indian IPO market, as it shows that companies are willing to adopt the new timeline and is a sign of increasing efficiency in the IPO process.