Tag: IPO – News

RR Kabel, a consumer electrical products company, will be the first company to list its shares on the stock exchanges in two days after the IPO closes, instead of the three days mandated by Sebi. This is a result of the company preponing its listing date by four days and deciding to list shares on the bourses on September 20. The company's listing on the stock exchanges is expected to be keenly watched by investors, as it will be the first company to test the new T+2 listing timeline.

Jupiter Life Line Hospitals, a well-established multi-specialty healthcare provider in the western region of India, had a strong listing on the NSE on September 18, 2023. The stock gained 46.36% over the issue price, reflecting the robust IPO subscription and the company's healthy financial performance. The company plans to use the IPO proceeds to repay debt and expand its operations.

Jiwanram Sheoduttrai Industries, a manufacturer and exporter of industrial safety gloves and garments, listed on NSE Emerge at a 30% premium to issue price on September 18. However, the stock fell 5% and hit the lower circuit soon after listing. The company's IPO was subscribed 105.15 times, with retail investors buying 151.6 times the allotted quota. The company will use the proceeds from the IPO for working capital requirements and debt repayment.

JSW Infrastructure, India's second-largest port operator by cargo handling capacity, is launching an IPO to raise Rs 2,800 crore. The price band is Rs 113-119 per share and the proceeds will be used to repay debt and fund expansion projects. The IPO is expected to be a major success, given the company's strong track record and growth potential.

Vaibhav Jewellers IPO is launching on September 22-26, with a price band of Rs 204-215 per share. The company has a strong track record of growth and is expanding its reach. The IPO is reasonably priced and offers investors an opportunity to invest in a growing business.

Zaggle IPO subscribed 43% on Day 2, with retail investors providing good support. However, the response from HNIs and QIBs was lukewarm. The company is bringing the issue at a price band of Rs 156-164 per share at a P/E multiple of 87x on an issue FY23 basis. Analysts are cautious about the IPO given the lukewarm response from QIBs and the aggressive pricing. They advise investors to do their own research and invest carefully.

Yatra Online's IPO received a muted response from investors on the first day of bidding, with only 11% of the issue subscribed. Retail investors were the most supportive, while high networth individuals and qualified institutional buyers have yet to start putting in bids.

RR Kabel's IPO was subscribed 18.64 times on the final day of bidding. The QIB and HNI categories saw the highest subscription, while retail investors showed lower interest. The company is expected to list on the BSE and NSE on September 26.

Kahan Packaging shares listed at a strong premium on the BSE SME platform today, reflecting the strong investor interest in the company.

Yatra Online, the third-largest online travel company in India, raised Rs 348.75 crore from anchor investors ahead of its IPO. The company will launch its Rs 775-crore IPO on September 15, comprising a fresh issuance of shares worth Rs 602 crore and an offer-for-sale (OFS) of 1,21,83,099 equity shares worth Rs 173 crore. The proceeds from the IPO will be used for strategic investments, acquisitions and inorganic growth, customer acquisition and retention, technology, and other organic growth initiatives.