<ul><li>Flair Writing is expected to announce its share allotment status on Wednesday, November 29.</li><li>The shares of Flair Writing were subscribed 46.68 times.</li><li>The shares are expected to be listed on the stock exchanges on November 30.</li></ul> Mumbai-based Flair Writing, a stationery maker which manufactures and sells Flair brand of pens is expected to announce the allotment status of its initial public offering (IPO) on Wednesday, November 29. The <keyword id="6907359" type="General" weightage="20" keywordseo="flair-writing-ipo" source="Orion">Flair Writing IPO</keyword> opened on November 22 and closed on November 24. The price band for the IPO was ₹288 to ₹304 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Flair Writing IPO was subscribed 46.68 times, receiving bids for 67.28 crore equity shares against 1.44 crore shares on offer. While the qualified institutional buyer portion was subscribed 115.60 times, the non-institutional investors portion was subscribed 33.37 times. The retail portion also witnessed good participation and was subscribed 13.01 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Flair Writing are currently commanding a grey market premium (GMP) of ₹80 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="19647392" type="General" weightage="100" keywordseo="flair-writing-ipo-allotment" source="Orion">Flair Writing IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Flair Writing’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that Flair Writing IPO listing dateyou have applied for and the number of shares that have been allotted to you. You can also check the Flair Writing IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Flair Writing’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Flair Writing IPO listing date" comment="subhead" text="Flair Writing IPO listing date">Flair Writing IPO listing date</cmsannotation> The shares of Flair Writing will be listed on the stock exchanges on November 30. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tata-technologies-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/105563003.cms">Tata Technologies IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/car-and-suv-prices-set-to-rise-in-january-2024-should-you-buy-one-in-december/articleshow/105556415.cms">Car prices set to rise in January – Should you buy one in December?</a> <a href="https://www.businessinsider.in/stock-market/news/gandhar-oil-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/105566781.cms">Gandhar Oil IPO allotment – How to check allotment, GMP, listing date and more</a>

Flair Writing IPO allotment – How to check allotment, GMP, listing date and more

<ul><li>The QIB portion of the issue was subscribed 115 times the shares on offer. </li><li>NII and retail portions were subscribed 33x and 13x respectively. </li></ul> The ₹593 crore initial public offer (IPO) of Mumbai-based stationery maker <keyword id="7090241" type="General" weightage="20" keywordseo="Flair-Writing" source="Orion">Flair Writing</keyword> was subscribed 46.6 times the shares on offer. Qualified institutional buyer (QIB) portion of the issue was subscribed 115 times, with non-institutional and retail portions subscribed 33x and 13x respectively. Flair Writing Industries has raised ₹177 crore from 23 anchor investors like SBI Consumption Opportunities Fund, HDFC Mutual Fund, Aditya Birla Sun Life and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Type of investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">115.60 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.37 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.01 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46.68 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE The company which manufactures and sells Flair brand of pens, also acquired rights to international brands like Hauser and Pierre Cardin’s writing instruments. Its products currently reach 3.15 lakh wholesalers and retailers. The issue comprises fresh issue to the tune of ₹292 crore; and an offer for sale of ₹301 crore. The net proceeds from the fresh issue will be used to set-up a new manufacturing facility for writing instruments in Valsad, Gujarat. It will use the rest to fund capex; working capital requirements, loan payment and more. The company’s revenues have been growing at a compounded annual growth rate (CAGR) of 22.85% from FY21 to FY23. “We have been consistently growing and outperforming the market. We are confident that we will be able to keep up with the growth rates seen historically,” said Rathod. Its net profit almost doubled in FY23 as compared to the year before. “In FY23, the company’s operating margin moved upward as EBITDA margins increased 300 basis points and stood at 19.47% versus 16.9% on a YoY basis,” said a report by Kunvarji Wealth Solutions which gave a ‘subscribe’ rating to the IPO. Plant shutdowns, its inability to carry through its expansion plans, labour unrests, regulatory and other issues have been cited by the company as risk factors in its RHP. It also adds that increased competition could have a material impact on its business. In FY23, the market share of organized players in the writing instrument space is around 78-80% with the rest being catered to by unorganized players, according to CRISIL.

Flair Writing IPO pens a success story, subscribed 46.6x

Flair Writing IPO – Price band to risk factors, all you need to know

<ul><li>Flair’s stock listed at ₹452 as compared to its issue price of ₹304 per share.</li><li>The grey market was expecting 30% listing gains from the stock.</li><li>The company’s market cap stood at ₹5,301 crore according to Bombay Stock Exchange. </li></ul><keyword id="7090241" type="General" weightage="20" keywordseo="flair-writing" source="Orion">Flair Writing</keyword> made a stellar debut on the D-Street at a premium of 65% on early Friday. However, the stock corrected during the day, ending the day with 49% listing gains. This is much ahead of grey market predictions which was hoping for 30% listing gains from the stock. The stock closed at ₹452 as compared to its issue price of ₹304 per share. The company’s market cap stood at ₹5,301 crore according to Bombay Stock Exchange. The ₹593 crore issue was subscribed 46.6x with outsized interest from institutional investors. The QIB portion of the issue was subscribed 115.6 times the shares on offer. The optimistic mood seen in the markets with regards to public offers, can rub off, say experts. “We believe the healthy listing is justified on the back of high growth seen in the writing instruments and stationery segment etc. and ongoing expansion plans to tap the future growth. We recommend allotted short term investors to book profits over and above 25% gains while long term investors can hold,” said <keyword id="19676170" type="General" weightage="80" keywordseo="rajan-shinde" source="Orion">Rajan Shinde</keyword>, research analyst, Mehta Equities. Here are the listing gains provided by the companies that debuted on D-Street this week. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grey market premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marketcap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription details </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flair Writing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,301 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46.6x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">162% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹52,734 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">69x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gandhar Oil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">78% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,573 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fedbank Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,161 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IREDA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">87% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹16,123 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.8% </td></tr></tbody></table> The company which manufactures and sells Flair brand of pens, also acquired rights to international brands like Hauser and Pierre Cardin’s writing instruments. Its products currently reach 3.15 lakh wholesalers and retailers. The IPO comprises fresh issue to the tune of ₹292 crore; and an offer for sale of ₹301 crore. The net proceeds from the fresh issue will be used to set-up a new manufacturing facility for writing instruments in Valsad, Gujarat. It will use the rest to fund capex; working capital requirements, loan payment and more. The company’s revenues have been growing at a compounded annual growth rate (CAGR) of 22.85% from FY21 to FY23. Its net profit almost doubled in FY23 as compared to the year before. Plant shutdowns, its inability to carry through its expansion plans, labour unrests, regulatory and other issues have been cited by the company as risk factors in its RHP. It also adds that increased competition could have a material impact on its business. In FY23, the market share of organized players in the writing instrument space is around 78-80% with the rest being catered to by unorganized players, according to CRISIL. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/stellar-listing-gains-book-profits-if-there-are-bumper-gains-say-experts/articleshow/105630290.cms">Stellar listing gains: Book profits if there are bumper gains say experts</a> <a href="https://www.businessinsider.in/stock-market/news/tata-tech-and-gandhar-oil-shine-on-debut-while-fedbank-falters/articleshow/105610067.cms">Tata Tech and Gandhar Oil shine on debut, while Fedbank falters</a>

Flair pens a successful debut, lists at 49% premium

<ul><li>The company makes and markets the Flair brand of pens, with rights to brands like <keyword id="2099374" type="General" weightage="50" keywordseo="hauser" source="Orion">Hauser</keyword> and <keyword id="116476" type="General" weightage="50" keywordseo="pierre-cardin" source="Orion">Pierre Cardin</keyword>.</li><li>It intends to raise as much as ₹593 crore via the public issue.</li><li>Net proceeds from the issue will be to set-up a new facility in Valsad, amongst others. </li></ul>Mumbai-based stationery maker Flair Writing opens its initial public offer (IPO) for subscription on November 22, and closes on November 24. It has fixed a price band of ₹288-304 for the issue, and intends to raise as much as ₹593 crore via the issue. Investors can bid for a minimum of 49 equity shares and in multiples thereof. The company which manufactures and sells Flair brand of pens, also acquired rights to international brands like Hauser and Pierre Cardin’s writing instruments. Its products currently reach 3.15 lakh wholesalers and retailers. It’s also charting an expansion strategy, and is also expanding its manufacturing capacities. It’s also venturing into houseware and other school and office supplies. “We also seek to focus on growing our existing product portfolio and diversification of our product range, emphasise on mid-premium segment and premium segment to increase margins, continue to increase production capacity and enhance capacity utilization, strategically expand exports, deepen our sales and distribution network and further strengthen our brands,” the company said in its RHP. It’s also setting its sights on increased exports. The company has a market share of 7.1% in the export of writing and creative instruments industry in FY23. It’s expecting to gain from the China +1 strategy adopted by many international companies. “We have received feedback from many international OEMs to make vacuum bottles and more such. It’s a good business which can add to our topline and bottomline both,” Sumit Rathod, whole time director at Flair Writing Industries told Business Insider India. The issue comprises fresh issue to the tune of ₹292 crore; and an offer for sale of ₹301 crore. The net proceeds from the fresh issue will be used to set-up a new manufacturing facility for writing instruments in Valsad, Gujarat. It will use the rest to fund capex; working capital requirements, loan payment and more. Financials &amp; risk factors The company’s revenues have been growing at a compounded annual growth rate (CAGR) of 22.85% from FY21 to FY23. “We have been consistently growing and outperforming the market. We are confident that we will be able to keep up with the growth rates seen historically,” said Rathod. Its net profit almost doubled in FY23 as compared to the year before. “In FY23, the company’s operating margin moved upward as EBITDA margins increased 300 basis points and stood at 19.47% versus 16.9% on a YoY basis,” said a report by Kunvarji Wealth Solutions which gave a ‘subscribe’ rating to the IPO. The company’s peers in the market include the recently listed Cello World, Linc and <keyword id="1889881" type="General" weightage="50" keywordseo="kokuyo-camlin" source="Orion">Kokuyo Camlin</keyword>. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹942 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹577 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹297 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹118 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹55 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹98 lakh </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: RHP Plant shutdowns, its inability to carry through its expansion plans, labour unrests, regulatory and other issues have been cited by the company as risk factors in its RHP. It also adds that increased competition could have a material impact on its business. In FY23, the market share of organized players in the writing instrument space is around 78-80% with the rest being catered to by unorganized players, according to CRISIL. “At times, retailers offer products from local manufacturers or unbranded items at lower prices or in ‘combo-offers’ with 45 other stationery items. Our inability to adequately address competitive pressures from the organized and unorganized players, may have a material adverse effect on our business, operations, prospects or financial results,” the company said in its RHP. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/tata-technologies-ipo-to-open-on-november-22-price-band-fixed-at-475-500/articleshow/105261065.cms">Tata Technologies IPO to open on November 22, price band fixed at ₹475-500</a> <a href="https://www.businessinsider.in/stock-market/news/ireda-ipo-to-open-on-november-21-price-band-fixed-at-30-32/share/articleshow/105263776.cms">IREDA IPO to open on November 21, price band fixed at ₹30-32/share</a> <a href="https://www.businessinsider.in/stock-market/news/fedbank-financial-services-ipo-to-open-on-november-22-price-band-fixed-at-133-140/sh/articleshow/105292752.cms">Fedbank Financial Services IPO to open on November 22; price band fixed at ₹133-140/sh</a>

Flair Writing hopes to gain from the China +1 strategy

<ul><li>Shareholder lock-ins of 66 companies are slated to expire between April and June.</li><li>The cumulative value of stocks that will see lock-ins expire is estimated at $17.7 billion.</li><li>Anchor investors, promoters and non-promoters have different lock-in periods as per regulations. </li></ul>The IPO boom of 2023 means the current year will see many newly listed stocks coming out of their mandated lock-in periods. As per a report by Nuvama, per-listed shareholder lock-ins of 66 companies are slated to expire between April and June of this year. “It amounts to a value of $17.7 billion. The value pertains to the total lock-up opening shares, but it’s important to note that not all of these shares will come for sale as a sizable portion of these shares are also held by promoter &amp; group,” said <keyword id="20055355" type="General" weightage="20" keywordseo="nuvama-institutional-equities" source="keywords">Nuvama Institutional Equities</keyword>. Some of the best-performing and investor-rewarding new listings that will see lock-ins expire include – <keyword id="19930935" type="General" weightage="20" keywordseo="tata-technologies" source="keywords">Tata Technologies</keyword>, <keyword id="19960579" type="General" weightage="20" keywordseo="ireda" source="keywords">IREDA</keyword>, Doms, <keyword id="20021844" type="General" weightage="20" keywordseo="cello-world" source="keywords">Cello World</keyword> and more. How do lock-ins work? While public shareholders of a company can sell their stock anytime in the market, after they are listed, the rules are different for other classes of investors. As per regulations, anchor investors — who invest ahead of opening an issue to the public — must wait for 30 days or one month from the allotment date to sell half of their shares in the public market. The rest can be sold after 90 days or three months. Promoters and other shareholders have different lock-in expiry rules. Promoters can sell their shares to the tune of 20% of the post-issue paid-up in the open market after 18 months. For other non-promoters, the lock-in ends in six months. Bharat Highways Invit’s 19% stake lock-in In the month of April, eight companies’ one-month lock-ins will expire including — Platinum Industries, J G Chemicals, Popular Vehicles and Services, Exicom Telesystems, R K Swamy, <keyword id="20778208" type="General" weightage="20" keywordseo="gopal-snacks" source="keywords">Gopal Snacks</keyword> and Krystal Integrated Services. Each of these has anywhere between 2% to 6% of their shares open for sale. But Bharat Highways Invit will see 19% of its lock-in expiring bringing out as much as 82.6 million shares out into the market. In general, the volatility around a stock goes up when lock-in periods end. The other stocks that will see their three-month lock-ins open in April would be — <keyword id="20730654" type="General" weightage="20" keywordseo="mukka-proteins" source="keywords">Mukka Proteins</keyword>, Jyoti CNC Auto, Epack Durables, Medi Assist Healthcare and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword>. May to see the ‘chunkiest of lock-in openings’ Since a lot of IPOs were launched in the last three months of 2023, the summer of May will see the chunkiest of lock-ins opening. That includes 65% shares of mega IPOs like Tata Technologies; 55% of government-owned IREDA, 10% of DOMS and 49% of Honasa Consumer. The other companies Cello World, <keyword id="21150340" type="General" weightage="20" keywordseo="flair-writing" source="keywords">Flair Writing</keyword>, Inox India, Gandhar Oil, JSW Infra, Muthoot MicroFin, Motisons Jewelers, RBZ Jewelers and more, Some of the older stocks that will see lock-in expiries (beyond one year and more) include — <keyword id="20430709" type="General" weightage="20" keywordseo="bikaji-foods" source="keywords">Bikaji Foods</keyword>, Global Health, Abans Holding, <keyword id="20238928" type="General" weightage="20" keywordseo="keystone-realtors" source="keywords">Keystone Realtors</keyword>, Radiant Cash Management and more. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Tata Tech, IREDA and 64 other stocks to see lock-ins expire in Q1 FY25

<ul><li><keyword id="18177119" type="General" weightage="100" keywordseo="fedbank-financial" source="Orion">Fedbank Financial</keyword> shall announce its share allotment status on Wednesday, November 29.</li><li>The shares of Fedbank Financial were subscribed 2.20 times.</li><li>The shares are expected to be listed on the stock exchanges on November 30.</li></ul>Mumbai-based Fedbank Financial, a retail-focused non-banking finance company that provides gold loans, home loans, and more is expected to announce the allotment status of its initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) on Wednesday, November 29. The <keyword id="13959480" type="General" weightage="50" keywordseo="fedbank-financial-ipo" source="Orion">Fedbank Financial IPO</keyword> opened on November 22 and closed on November 24. The price band for the IPO was ₹133 to ₹140 per share. <cmsannotation type="cmsannotation" annotationid="Average subscription" comment="subhead" text="Average subscription">Average subscription</cmsannotation> On the last day, the Fedbank Financial IPO was subscribed 2.20 times, receiving bids for 12.30 crore equity shares against 5.59 crore shares on offer. While the qualified institutional buyer portion was subscribed 3.51 times, the non-institutional investors portion was subscribed 1.45 times. The retail portion also witnessed good participation and was subscribed 1.82 times. The employee portion was subscribed 1.34 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Fedbank Financial are currently not commanding a grey market premium (GMP). GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="19652611" type="General" weightage="20" keywordseo="Fedbank-Financial-IPO-allotment" source="Orion">Fedbank Financial IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Fedbank Financial’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Fedbank Financial IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Fedbank Financial’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Fedbank Financial IPO listing date" comment="subhead" text="Fedbank Financial IPO listing date">Fedbank Financial IPO listing date</cmsannotation> The shares of Fedbank Financial will be listed on the stock exchanges on November 30. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/flair-writing-ipo-how-to-check-allotment-and-gmp-value/articleshow/105579554.cms">Flair Writing IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/stock-market/news/gandhar-oil-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/105566781.cms">Gandhar Oil IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/stock-market/news/tata-technologies-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/105563003.cms">Tata Technologies IPO allotment – How to check allotment, GMP, listing date and more</a>

Fedbank Financial Services IPO allotment – How to check allotment, GMP, listing date and more

<ul><li>The stock listed at ₹831 as compared to its IPO price of ₹648.</li><li>The grey market was expecting 25% listing gains from the stock.</li><li>The ₹1,900 crore IPO was subscribed almost 39 times the shares on offer. </li></ul><keyword id="15532259" type="General" weightage="20" keywordseo="cello-world" source="Orion">Cello World</keyword> debuted on the stock exchanges with a 28% premium on Monday, overshooting grey market expectations even if it’s by a small margin. The grey market was expecting 25% listing gains from the stock. During the trading session, it sustained most of its initial gains. The stock closed 22% higher than its issue price. The market cap of the company is at ₹17,636 crore, as per Bombay Stock Exchange. The ₹1,900 crore IPO of consumer goods company Cello World was subscribed almost 39 times the shares on offer. QIBs bid aggressively for the issue as this portion was subscribed 108 times as of Wednesday evening. The non-institutional investor (NII) portion was subscribed 24 times. Its retail portion was subscribed thrice over. The price band has been fixed at ₹617 to ₹648. The last few companies that debuted on the stock exchanges have given fairly positive listing returns, barring a few. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plaza Wires </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updater Services </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.3% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Infra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.5% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Company has a dominant market position say analysts The company manufactures, distributes and sells a wide range of products like drinkware, insulated ware, dinnerware, serveware, and glassware across India. It has products across categories like cleaning supplies, stationery, small kitchen appliances, moulded furniture, and air coolers. “Cello benefits from a distribution advantage due to its large off-take per retailer. Retailers, too, find it advantageous to stock Cello's products due to the comprehensive range, enabling them to fulfill diverse customer demands through a single brand,” says a report by BP Equities. Its main risks include fluctuations in raw material prices like plastic granules and plastic polymer prices etc and their supply chain issues. It also doesn’t own the trademark for its key brands, like ‘Cello’, ‘Unomax’, ‘Kleeno’ and ‘Puro’. Also, one of its competitors also uses the ‘Cello’ brand name for its writing instruments business. The company says that any adverse impact on its brand name due to the actions of competitors may adversely impact its reputation and business. Its margins, profitability depend on maintaining its existing capacity utilisation rate. “Consumer awareness towards safety and quality, shorter replacement cycles, a shift towards the aesthetics of products, loyalty to established brands, increasing disposable income, and nuclearization of families are contributing to the growth of the branded consumer ware market in India,” says a report by Geojit, which gives it a 'Subscribe' rating for the issue on a long-term basis. A report by Choice Broking also believes that the company has a dominant position in the market. “There are growth tailwinds for the sector and CWL is well placed to benefit from the same. But due to a highly priced issue, we are assigning a ‘Subscribe with Caution’ rating for the issue,” it adds.

Cello World stock closes 22% higher than issue price on debut day

<ul><li>Even though five public issues opened this week, they received stellar subscriptions.</li><li>Smaller and niche companies are also finding favour with all classes of investors along with big issues like IREDA and Tata Tech.</li><li>The <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> party will roll over into the New Year too, as investors are keen to participate in India’s growth story. </li></ul>India’s primary market is showing no signs of slowing down, even after mopping-up ₹1.5 lakh crore from investors this week. An eclectic mix of companies are hitting the primary markets ranging from ‘gathia’ (Gujarati snack) makers, apparel brands to marketing agencies will make their case for investors in the coming months. This flow of new IPOs will continue to hit the market, experts predict, thanks to the stellar response received of the issues that hit this week. All IPOs, barring the Fedbank Financial Services issue, were subscribed at least twice over on the first day. Tata Technologies offering was lapped up like hot cakes on a winter morning as it was swiftly overbooked within hours. “Investors have come through,” Munish Aggarwal, managing director of Equirus Group tells Business Insider India. “In fact, a lot of them were launched parallelly because there is a lot of equity in the market. QIBs are very active too,” he comments. The QIB quota of four of five IPOs live this week, barring Fedbank, were subscribed over 100 times the shares on offer. Until Elections do us apart Next week, there will be a breather to the mainboard IPO rush, but five SME issues will be live. Going by the number of draft red herrings filed by 48 companies in the first half of FY24, the IPO party might roll over to the next year too. “If you see corporate India, a lot of them are now raising funds for capacity building as opposed to deleveraging as seen in the last decade. Since they’re seeing sustained growth, the activity will continue unless there is a significant spike in volatility prior to general elections next year,” said Aggarwal. Consumer-centric companies like ghatia-maker Gopal Snacks, Choice Brands which sells men’s apparel, marketing agency Graphisads, Net Avenue Technologies that sells Indian ethnic wear directly to consumers are some of the issues that will make a bid for investors. “The huge appetite for equities stems from the confidence that investors have in the India growth story and the large universe of fast-growing, well-managed companies, which are expected to deliver good profits,” said Mahavir Lunawat, MD of Pantomath Capital Advisors. Upcoming public issues <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exchange </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gopal Snacks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mainboard </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹650 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DRHP filed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Brands </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mainboard </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA (19.63 mn shares) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DRHP filed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Graphisads </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SME </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹53.4 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens Nov 30-Dec 5 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Avenue Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SME </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10.26 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens Nov 30-Dec 4 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deepak Chemtex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SME </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23.04 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens Nov 29-Dec 1 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AMIC Forging </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SME </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹34.8 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens Nov 29-Dec 1 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swashthik Plascon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SME </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40.7 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nov 24-29 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>IPO bidding patterns have also changed due to regulations where listing timeframe changed from extant T+6 to T+3. It means an issue can now debut on exchanges within three days of receiving subscriptions. And many companies are choosing to go for it, which means IPO bid amount is blocked for shorter timelines. “Investors now have the opportunity for having early credit and liquidity for their investment, which enable investors to analyse and participate in more number of IPOs opening parallel, as we gear for bigger capital formation,” says Lunawat. Listing gains in focus next week If the grey market premiums are anything to go by, next week will be much better for the issues that were open this week. Analysts say that those who missed out on share allotment due to heavy oversubscription might try to buy from the secondary market – and that’s pushed the listing gains expected for issues live this week — anywhere between 23-78%. Even as the response to IREDA and Tata Technologies was expected as they have strong legacy and brand names, investors are also willing to make their bets on smaller, newer and niche companies. Gandhar Oil Refinery’s book is just as busy as that of Tata Technologies, even though it’s a much smaller issue. “It has leading market share in the Indian white oil market with significant overseas presence; and a well-diversified product portfolio with an extensive customer base,” comments Kunvarji Wealth Solutions. Pen manufacturer Flair Instruments too is getting good interest. “Being among the top three players in the overall writing instrument industry with a market share of 9% in the overall writing and creative instruments industry in India, we believe the company is strategically positioned coupled with a track record of sustained growth,” said Rajan Shinde, research analyst at Mehta Equities. No business is too small or too niche for investors who are all set to buy into the India growth story Institutions as well as retail investors are ready to make their bets on new, fast-growing companies. And, IPOs are coming for them.

November Rain For Primary Market: Great IPO party helps companies mop up ₹1.5 lakh crore

The police detained the Father of the minor accused in the <keyword id="19897309" type="General" weightage="20" keywordseo="Pune" source="keywords">Pune</keyword> <keyword id="20048182" type="General" weightage="20" keywordseo="car-accident" source="keywords">car accident</keyword> case on Tuesday morning, said police officials. The father of the minor was identified as Vishal Agarwal. According to the Commissioner of Police, Pune, Amitesh Kumar, father of the minor accused, has been detained from the Sambhajinagar area of Aurangabad district in Maharashtra this morning. In the early hours of Sunday, two individuals, including a young woman, lost their lives after a luxury car collided with their motorcycle near KalyNagar in Pune, said police officials. On Monday the Pune Commissioner of Police Amitesh Kumar said that the Pune Police are seeking permission to try the <keyword id="21723651" type="General" weightage="20" keywordseo="juvenile-accused" source="keywords">juvenile accused</keyword> in the Pune rash driving case, which killed two people, as an adult under sections of the Juvenile Justice Act. "Police have taken yesterday's incident seriously. We have taken action under section 304 of IPC, which is a non-bailable section as it was a heinous crime...A drunk car driver was rashly driving on a narrow lane," the Pune Commissioner of Police told ANI. Earlier on May 19, the Juvenile Justice Board granted bail to the accused involved in a recent car accident in Pune, said the juvenile accused's advocate, <keyword id="21345779" type="General" weightage="20" keywordseo="Prashant-Patil" source="keywords">Prashant Patil</keyword>. The bail comes with several conditions aimed at rehabilitation and awareness. The conditions include the following: The accused should work with the <keyword id="20003772" type="General" weightage="20" keywordseo="traffic-police" source="keywords">traffic police</keyword> of Yerawada for 15 days; the accused should write an essay on the accident; should get treatment from the concerned doctor to help him quit drinking; and should take psychiatric counselling and submit a report. "The juvenile accused who was arrested by Pune Police has been granted bail by the Juvenile Justice Board on certain conditions including that the accused should work with the traffic police of Yerawada for 15 days, accused should write an essay on accident, should get treatment from the concerned doctor to help him quit drinking and should take psychiatric counselling and submit the report," Prashant Patil said. The deceased have been identified as Anis Awadhiya and Ashwini Costa. The tragic incident occurred at about 3:15 am. Deputy Commissioner of Police Vijay Kumar Magar of Pune City Police confirmed that the juvenile has been apprehended and his father and the owner of a bar that served him alcohol have been booked. An FIR has been lodged, and an investigation is underway. "A bike rider and pillion rider were killed when a speeding car hit them from behind in the Kalyani Nagar area last night. The accused has been arrested, and an FIR has been registered. We are also verifying the certificates to ascertain the accused's age, as he claims to be a minor," stated DCP Magar. The police have charged the minor with rash and negligent driving and causing harm by endangering life or personal safety under IPC sections 304A, 279, 337, 338, and 427, along with relevant sections of the Maharashtra Motor Vehicle Act, added the DCP. The juvenile's father and the bar that served him liquor face charges under Sections 75 and 77 of the Juvenile Justice Act, said the city police in Pune. According to the FIR, the accident occurred as a group of friends were returning home on their motorcycles after a party at a restaurant in Kalyani Nagar. At the Kalyani Nagar junction, a speeding luxury car struck the bike carrying Awadhiya and Costa, causing them to fall and die instantly. The car subsequently crashed into roadside pavement railings. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/go-digit-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110276113.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/go-digit-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110276113.cms" target="_blank">Go Digit IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/sports/webstories/kolkata-knight-riders-vs-sunrisers-hyderabad-head-to-head-record-match-timings-and-more/slidelist/110274500.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/kolkata-knight-riders-vs-sunrisers-hyderabad-head-to-head-record-match-timings-and-more/slidelist/110274500.cms" target="_blank">Kolkata Knight Riders vs Sunrisers Hyderabad – head-to-head record, match timings and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a>

Pune rash driving case: Police detains father of minor accused

Ahead of <keyword id="3169059" type="General" weightage="100" keywordseo="openai" source="Orion">OpenAI</keyword>'s first-ever developer conference, a significant <keyword id="15681942" type="General" weightage="20" keywordseo="chatgpt" source="Orion">ChatGPT</keyword> update has leaked, revealing a custom chatbot creator. As per leaked screenshots and videos, a custom chatbot creator has several features already available in ChatGPT using GPT-4, like web browsing and data analysis, reports 'The Verge'. The news was first reported by 'The <keyword id="1323134" type="General" weightage="50" keywordseo="decoder" source="Orion">Decoder</keyword>'. According to the report, OpenAI will also have a new marketplace where users can share their chatbots or browse those created by others. Moreover, an SEO tools developer, Tibor Blaho, also shared a video of the UI for the feature in action, displaying a GPT Builder option that allows users to submit a prompt -- for example, "make a creative who helps generate visuals for new products" -- to develop a chatbot. As shown in the video, there are options to select a default language, tone, and writing style for the bot on the "Create" tab. Then, on the "Configure" page, there are fields for naming, describing, and giving instructions to the bot on what it can and cannot do. A user called <keyword id="128333" type="General" weightage="80" keywordseo="choi" source="Orion">Choi</keyword>, who initially posted a summary of the rumoured updates a few days ago on X, also claimed that OpenAI is planning to release an enterprise 'Team' subscription plan with 'Flexible' and 'Annual' options. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/reliance-jio-launches-jiomotive-a-vehicle-tracking-and-diagnostics-device/articleshow/105006068.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/reliance-jio-launches-jiomotive-a-vehicle-tracking-and-diagnostics-device/articleshow/105006068.cms" target="_blank">Reliance Jio launches JioMotive, a vehicle tracking and diagnostics device</a><a href="https://www.businessinsider.in/tech/news/zerodha-app-goes-down-company-acknowledges-issue-as-users-complain-on-social-media/articleshow/104999575.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/zerodha-app-goes-down-company-acknowledges-issue-as-users-complain-on-social-media/articleshow/104999575.cms" target="_blank">Zerodha acknowledges app crash after users complain on social media</a><a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms" target="_blank">Honasa IPO – How to check Mamaearth allotment, GMP, listing date and more</a>

OpenAI may release 'GPT builder' option for ChatGPT subscribers soon

<ul><li>Tata Technologies stock zoomed by 162% in early trade on debut.</li><li>Gandhar Oil too exceeded grey market expectations with 78% listing gains.</li><li>Fedbank Financial Services held on to its issue price, with 0% listing gains. </li></ul>Two of three public issues that debuted on D-Street gave stellar listing gains to investors on Thursday. While Tata Technologies stock zoomed by 162% on debut day, Gandhar Oil too exceeded grey market expectations with 78% listing gains at the time of closing. The stock of Fedbank Financial Services barely moved as it started trading on Thursday with 0% listing gains. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grey market premium </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marketcap </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription details </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">162% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹52,734 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">69x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gandhar Oil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">78% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,573 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fedbank Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,161 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2x </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IREDA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">87% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹16,123 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.8% </td></tr></tbody></table> Hold, buy-on-dips and book profits say analysts Most experts and the grey market predict all companies to provide double-digit listing gains, with the exception of Fedbank Financial Services. Tata Technologies IPO which broke a record with the number of applications is expected to provide super premium listing gains on the back of its lineage and a well-established business model of the engineering R&amp;D player. “There is a high possibility that Tata Technologies can be a doubler candidate post listing. Given the growth potential in outsourcing, the business model would be in great demand going forward. We recommend allotted investors to book 50% profits over and above our expectations and retain the rest for the long-term,” said Prashanth Tapse, research analyst, senior VP of research at Mehta Equities. While oil manufacturer Gandhar Oil also saw healthy subscriptions, and its niche play has also appealed to the brokerages and investors alike. “We recommend allotted investors to book listing day profits over and above our expectations of 30-40% listing gains. Considering limited upside post listing, investors who failed to get allotments in the public offer can accumulate on dips post listing,” says Rajan Shinde, research analyst at Mehta Equities. Flair Writing which is known for its stationery products is also branching out into houseware, steel bottles and appliances. While short-term investors who see over 25% listing gains can choose to book profits, there is a case for long-term investors to hold on or accumulate on dips, advises Shinde.

Tata Tech and Gandhar Oil shine on debut, while Fedbank falters

<ul><li><keyword id="68460" type="General" weightage="20" keywordseo="El-Salvador" source="Orion">El Salvador</keyword> now has over 2000 <keyword id="6354947" type="General" weightage="100" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> in its coffers.</li><li>The country has bought the dip at least twice in the past.</li><li>El <keyword id="162384" type="General" weightage="80" keywordseo="salvador" source="Orion">Salvador</keyword> also plans to issue Bitcoin bonds in future.</li></ul>Buying the dip is sort of the first move a crypto trader learns when they’re getting into the market. So, it’s no surprise that El Salvador, which became the first country to make Bitcoin legal tender last year, has been doing the same. Amid a heavy sell-off on the <keyword id="6380571" type="General" weightage="20" keywordseo="crypto-market" source="Orion">crypto market</keyword> this week, the country expanded its Bitcoin treasury by adding 500 more Bitcoin to its coffers. The purchase brings El Salvador’s total Bitcoin purchase up to 2301 Bitcoin, which is worth approximately $71,209,507.20 based on Bitcoin’s price at the time of writing. Salvador’s president, Nayib Bukele, announced the purchase on Twitter, just like he has done before. The country bought the Bitcoin at approximately $30,744 and the price was at $30,895 at the time of writing, according to data from Coinmarketcap. <div type="twitter" handle="nayibbukele" handlename="Nayib Bukele" image="http://pbs.twimg.com/profile_images/1522068430396051458/6zEUwz-c_normal.jpg" favoritecount="87490" retweetcount="12444" status="El Salvador just bought the dip! 🇸🇻500 coins at an average USD price of ~$30,744 🥳#Bitcoin" createdat="1652123536000" id="1523742670044413954"></div>Bukele has made such announcements at least two <a href="https://www.businessinsider.in/investment/news/el-salvadors-president-bukele-says-the-country-purchased-25-million-worth-of-bitcoin-after-waiting-to-buy-the-dip-below-60000/articleshow/87338348.cms">times</a> in the past, in September and October last year. On those occasions, the country purchased 150 and 420 Bitcoin, respectively. <div type="Video" msid="90098503" hostid="261" title="Bitcoin &amp; El Salvador’s big bet on crypto" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=90098503"></div> The current purchase came at a time when the Bitcoin market fell by over 50% over the past week. The price of Bitcoin was down by just under 10% in the last 24 hours and just under 20% in the past seven days. It has fallen by over 25% over the past month. The country also plans to issue Bitcoin bonds later, though Bukele or anyone else from the administration haven’t confirmed the dates yet. In an interview earlier this month, <keyword id="12900789" type="General" weightage="20" keywordseo="Alejandro-Zelaya" source="Orion">Alejandro Zelaya</keyword>, the treasury minister of Salvador, had said that the Russia-Ukraine war is affecting the bond issuance and it is “waiting for the right moment” in order to issue these bonds. <div type="Article" hostid="261" msid="91109407" title="El Salvador's bitcoin experiment hasn't gained traction as locals continue to trust cash more than crypto, survey says" mstype="2" mssubtype="0"></div> Salvador’s acceptance of Bitcoin as a fiat currency in 2021 has been under much scrutiny, with global bodies like the International Monetary Fund urging the country to rethink its decision. Its Chivo Wallet had also met with early issues, as it struggled to keep up with transactions and users wouldn’t trust Bitcoin. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rainbow-childrens-medicare-makes-a-weak-debut-on-exchanges-as-it-lists-at-a-6-discount/articleshow/91458342.cms">Rainbow Children’s Medicare makes a weak debut on exchanges as it lists at a 6% discount</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/prudent-corporate-advisory-services-ipo-opens-today-gmp-already-at-30-per-share/articleshow/91441402.cms">Prudent Corporate Advisory Services’ IPO opens today – GMP already at ₹30 per share</a>

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