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<ul><li>The QIB portion of the issue was subscribed almost 193 times on the last day of the issue.</li><li>Non-institutional investors too showed good interest as this portion was subscribed 49x. </li><li>The company raised ₹304.43 crore from anchor investors like ADIA, Axis Mutual Fund, Birla Mutual Fund and more. </li></ul>SBFC Finance’s public offer was subscribed by 70 times over the shares on offer, on the last of the issue. Qualified Institutional Buyers (QIBs) bid aggressively for the issue and this portion was subscribed almost 193 times, by the end of Monday. The ₹1,025 crore IPO closed on Monday. Non-institutional investors too showed good interest as this portion has been subscribed 49 times. The retail portion was also subscribed by around 11 times The company raised ₹304.43 crore from anchor investors last Wednesday. Some of its anchor investors include Abu Dhabi Investment Authority, Carmignac Portfolio, Axis Mutual Fund, Birla Mutual Fund, Loomis Sayles and Neuberger Berman. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><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;">Category </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;">QIBs </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;">192.90 </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;">49.09 </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;">10.99 </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;">70.16 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE The company has set a price band of ₹54-57 per share. SBFC Finance said that the net proceeds from the fresh issue to the tune of ₹600 crore will be used for expanding its capital base to satisfy future capital requirements. The company is a non-deposit-taking non-banking finance company (NBFC) offering secured MSME loans, and loans against gold. A majority of its borrowers are entrepreneurs, small business owners, self-employed individuals, salaried and working class individuals. It primarily caters to customers in tier II and tier III cities, and focuses on serving customers who have a strong credit history but may lack formal proof of income documents. It has a footprint in 120 cities across 16 Indian states and two union territories, operating through a network of 152 branches. ICICI Securities Limited, Axis Capital, and Kotak Mahindra Capital Company are the book running lead managers to the Offer. KFin Technologies is the registrar to the offer. The shares are proposed to be listed on BSE and NSE. A report by SBI Securities says that SBFC IPO is fairly valued, and recommended investors to subscribe for its listing gains at a cut-off price. A report by Geojit says that, at the upper price band of ₹57, SBFC is available at a valuation that’s lower than its peers. “Considering the lower valuation, consistent improvement in asset quality, and decent business performance, we assign a subscribe rating for the issue on a short-to medium-term basis,” it says.

QIBs bid aggressively for SBFC Finance’s IPO which is subscribed 70x

<ul><li>SBFC Finance is expected to announce its share allotment status on August 10.</li><li>The shares of SBFC Finance were subscribed by 70.16 times overall.</li><li>The shares are expected to be listed on the stock exchanges on August 16.</li></ul> Mumbai-based SBFC Finance, a non-deposit-taking non-banking finance company (NBFC), is expected to announce the allotment status of its initial public offering (IPO) today, that is August 10. The <keyword id="16911177" type="General" weightage="20" keywordseo="sbfc-finance-ipo" source="Orion">SBFC Finance IPO</keyword> opened on August 3 and closed on August 7. The price band for the IPO was ₹54 to ₹57 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the SBFC Finance IPO was subscribed 70.16 times, receiving bids for 936.76 crore equity shares against 13.35 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 192.90 times, the non-institutional investors portion was subscribed 49.09 times. The retail portion also witnessed good participation and was subscribed 10.99 times. The employee portion was subscribed 5.87 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of SBFC Finance are currently commanding a grey market premium (GMP) of ₹40 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="18245331" type="General" weightage="100" keywordseo="sbfc-finance-ipo-allotment" source="Orion">SBFC Finance IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Company Selection’ and then select ‘SBFC Finance’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on ‘Search’.</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 SBFC Finance 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 ‘SBFC Finance’ 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="SBFC Finance listing date" comment="subhead" text="SBFC Finance listing date">SBFC Finance listing date</cmsannotation> The shares of SBFC Finance will be listed on the stock exchanges on August 16. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-sees-a-declines-in-q2-vivo-in-the-lead/articleshow/102417485.cms">Indian smartphone market sees a declines in Q2; Vivo in the lead</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-recover-in-july-2023/articleshow/102347978.cms">Electric two-wheeler sales recover after spending June in the pitlane</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-slip-5-percent-in-july-companies-build-up-inventory-ahead-of-the-festive-season/articleshow/102494498.cms">As auto sales slip in July, dealers pin hopes on upcoming festive fervour</a>

SBFC Finance IPO – How to check allotment, listing date, GMP and more

<ul><li>The stock listed at ₹81.99, that’s ₹25 above its IPO price.</li><li>The market cap of the company is ₹8,725 crore, as per Bombay Stock Exchange.</li><li>The public offer was subscribed by 70x with aggressive bidding from QIBs. </li></ul><keyword id="15461630" type="General" weightage="20" keywordseo="sbfc-finance" source="Orion">SBFC Finance</keyword>’s stock made its debut on the bourses at ₹81.99 – that’s a 43.8% premium over its IPO price of ₹57, on Wednesday. The grey market was expecting 50% listing gains on the stock. The market cap of the company is ₹8,725 crore, as per Bombay Stock Exchange. The public offer was subscribed by 70 times over the shares on offer, on the last of the issue. Qualified Institutional Buyers (QIBs) bid aggressively for the issue and this portion was subscribed almost 193 times. Non-institutional investors too showed good interest as this portion has been subscribed 49 times. The retail portion was also subscribed by around 11 times The company raised ₹304.43 crore from anchor investors like Abu Dhabi Investment Authority, Carmignac Portfolio, Axis Mutual Fund, Birla Mutual Fund, Loomis Sayles and Neuberger Berman. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><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;">Category </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;">QIBs </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;">192.90 </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;">49.09 </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;">10.99 </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;">70.16 </td></tr></tbody><tbody></tbody></table>Source: BSE The company has set a price band of ₹54-57 per share. SBFC Finance said that the net proceeds from the fresh issue to the tune of ₹600 crore will be used for expanding its capital base to satisfy future capital requirements. The company is a non-deposit-taking non-banking finance company (NBFC) offering secured MSME loans, and loans against gold. A majority of its borrowers are entrepreneurs, small business owners, self-employed individuals, salaried and working class individuals. It primarily caters to customers in tier II and tier III cities, and focuses on serving customers who have a strong credit history but may lack formal proof of income documents. It has a footprint in 120 cities across 16 Indian states and two union territories, operating through a network of 152 branches. A report by SBI Securities says that SBFC IPO is fairly valued, and recommended investors to subscribe for its listing gains at a cut-off price. A report by Geojit says that, at the upper price band of ₹57, SBFC is available at a valuation that’s lower than its peers. “Considering the lower valuation, consistent improvement in asset quality, and decent business performance, we assign a subscribe rating for the issue on a short-to medium-term basis,” it says.

SBFC Finance debuts at 43% premium meeting grey market expectations

<ul><li>The lot size for the IPO is at a minimum of 260 shares and in multiples of 260 shares thereafter.</li><li>The issue comprises fresh of ₹600 crore and an offer for sale of ₹425 crore.</li><li>The company primarily caters to customers in tier II and tier III cities. </li></ul>SBFC Finance’s ₹1,025 crore initial public offer (IPO) is all set to open on August 3 and close on August 7. The price band for the issue has been fixed at ₹54-57 per share. Investors can bid for a minimum of 260 shares and in multiples thereafter. The issue of face value of ₹10 per equity share comprises fresh issuance of equity shares worth ₹600 crore and an offer for sale of ₹425 crore. The floor price is 5.4 times the face value of the equity share and the cap price is 5.7 times the face value of the share, the company said. The company is a non-deposit-taking non-banking finance company (NBFC) offering secured MSME loans, and loans against gold. A majority of its borrowers are entrepreneurs, small business owners, self-employed individuals, salaried and working class individuals. The company primarily caters to customers in tier II and tier III cities, and focuses on serving customers who have a strong credit history but may lack formal proof of income documents. It has a footprint in 120 cities across 16 Indian states and two union territories, operating through a network of 152 branches. ICICI Securities Limited, Axis Capital, and Kotak Mahindra Capital Company are the book running lead managers to the Offer. KFin Technologies is the registrar to the offer. The shares are proposed to be listed on BSE and NSE. Financials &amp; risk factors The company’s consolidated revenues and net profit has grown consistently in the last few years, while its gross NPA ratio has been going down. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><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;">Income </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;">₹654 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;">₹473 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;">₹463 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;">₹149.7 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;">₹64.5 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;">₹85 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;">Gross NPA Ratio </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;">2.43% </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;">2.74% </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;">3.16% </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;">Provision coverage ratio </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;">42.04% </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;">40.44% </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;">38.25% </td></tr></tbody></table>Source: DRHP &amp; press release The NBFC is subject to periodic inspections by the Reserve Bank of India (RBI) and non-compliance with its observations can expose it to penalties and restrictions. “We are subject to laws and regulations governing the financial services industry and our operations in India, including laws in relation to capital adequacy ratios. Changes in regulations governing us could adversely affect our business, results of operations and prospects,” the company said in its risk factors. Its non-convertible debentures are listed on the BSE, and there have been instances of non-compliances in the past with rules and regulations. “If we fail to comply with such rules and regulations, we may be subject to certain penal actions, which may have an adverse effect on our business, results of operations, financial condition and cash flows,” it adds. It also lists business risks like non-payment or default by our borrowers may adversely affect our business, results of operations and financial condition. The quality of its portfolio may be impacted due to large non-performing assets (NPAs) as its business can be adversely affected if they are unable to provide it.

SBFC Finance IPO to open on Aug 3 - Price band at ₹54-57; check out details

SBFC IPO opens – From price band to risk factors, all you need to know

New Delhi, Tata Technologies, an arm of Tata Motors, Gandhar Oil Refinery (India) Ltd and non-banking financial company SBFC Finance have received capital market regulator Sebi's approval to raise funds through initial public offerings. The three companies, which filed their preliminary papers with Sebi between December 2022 and March 2023, obtained the regulator's observations during June 21-23, an update with the markets watchdog showed on Tuesday. In Sebi's parlance, obtaining observations mean its go-ahead to float the initial share sale. As per the draft papers, Tata Technologies' IPO is purely an Offer For Sale (OFS), where the company will sell up to 9.57 crore equity shares representing approximately 23.60 per cent of its paid-up share capital. Under the OFS, Tata Technologies' parent company Tata Motors will offload 8.11 crore shares or a 20 per cent stake in the company. Among other shareholders, Alpha TC Holdings Pte plans to sell up to 97.16 lakh shares (2.40 per cent) and Tata Capital Growth Fund I would offload up to 48.58 lakh equity shares (1.20 per cent). The IPO of Gandhar Oil Refinery comprises fresh issue of equity shares worth Rs 357 crore and OFS of 1.2 crore shares by promoters and existing shareholders, according to the draft red herring prospectus. The fund raising through the OFS component is expected to be Rs 500 crore, market sources said. Proceeds from the fresh issue component will be used for payment of debt and for purchase of equipment and civil work required for expansion in capacity of automotive oil at Silvassa plant. In addition, the funds will be utilised for expansion in capacity of petroleum jelly and accompanying cosmetic product division at the company's Taloja plant as well expansion in capacity of white oils by installing blending tanks at the plant and funding working capital requirements. Non-banking lender SBFC Finance is looking to raise Rs 1,200 crore through the IPO, which comprises fresh issuance of shares worth Rs 750 crore and OFS of Rs 450 crore. The proceeds from the fresh issuance worth Rs 750 crore will be used towards augmenting its capital base. The NBFC caters to entrepreneurs, small business owners, self-employed and salaried individuals. Shares of these three companies will be listed on the BSE and NSE.

Tata Technologies, Gandhar Oil, SBFC Finance get Sebi nod to float IPO

IPO gold rush: All but 4 IPOs in FY24 gave positive returns on listing

<ul><li>Fedbank intends to raise ₹1,092 crore from the initial public offer.</li><li>Investors can bid for a minimum of 107 shares and in multiples thereafter.</li><li>It plans to use net proceeds to augment Tier-I capital base and others. </li></ul>The initial public offer (IPO) of Fedbank Financial Services will open for subscription on November 22 and close on November 24. Its price band has been fixed at ₹133-140 per equity share. Investors can bid for a minimum of 107 shares and in multiples thereafter. The company intends to raise as much as ₹1,092 crore via the IPO. The issue comprises a fresh issue aggregating up to ₹600 crore and an offer for sale by promoter Federal Bank, and selling shareholder of True North Fund VI LLP I. The Reserve Bank's circular increasing the risk weights on unsecured lending will increase the borrowing costs, but the negative market sentiment will not impact the offering, Managing Director and Chief Executive Officer Anil Kothuri told reporters at its IPO press conference. The non-banking financial company (NBFC) plans to utilize the net proceeds from the fresh issue towards augmenting its Tier – I capital base to meet future capital requirements, arising out of the growth of its business and assets. ICICI Securities, BNP Paribas, Equirus Capital Private and JM Financial are the book running lead managers to the Issue. The company &amp; financials It’s a retail focused non-banking finance company (NBFC) promoted by The Federal Bank. It has 584 branches, and is focussed on MSME loans, gold loan and more. It is one of the five private bank promoted NBFCs in the country. As on March 31, 2023, it has the third fastest assets under management (AUM) growth among NBFCs in the peer set in India. Its AUMs grew at 33% CAGR (compounded annual growth rate) between FY20 and FY23. Its AUMs stand at 94,34 crore as of end of June 2023. Its total revenues grew by 37% and 26% in FY23 and FY22 respectively. Its profit also grew by 74% and 67% during the same periods. As of June 30, 2023, its Gross non-performing assets (NPA) and Net NPA were at ₹189 crore and ₹147 crore, respectively. Its listed peers in the market are Aptus Value Housing, IIFL Finance, Five Star Business Finance, Manappuram Finance, Muthoot Finance and SBFC Finance. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><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;">₹1,178 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;">₹869 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;">₹691 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;">₹180 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;">₹103 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;">₹61.6 crore </td></tr></tbody><tbody></tbody></table>Source: RHP Risk factors As much as 93% of its gross AUMs are concentrated around six states and two union territories of Gujarat, Maharashtra, Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Puducherry and Delhi. Any adverse developments in these regions could have an adverse effect on its business. It has a concentration of loans to emerging self-employed individuals and MSMEs accounting to 45% and 64.7% of its loan profiles, respectively. The risk of non-payment or default by our borrowers may adversely affect our business, results of operations and financial condition, it says. Since it handles high volumes of cash and gold jewelry in a dispersed network of branches, it’s exposed to operational risks, including employee negligence, fraud, petty theft, burglary and embezzlement. Its inability to maintain capital adequacy ratio, meet its financial and other covenants under our debt financing arrangements; and deterioration in receivables may adversely impact its financial performance. The company has undertaken 1,625 criminal proceedings amounting to ₹363 crore. It has three criminal proceedings against it, along with three tax proceedings, and one regulatory proceeding amounting to ₹46 lakh. The promoter has undertaken 61 criminal cases against it, with two material civil litigations amounting to ₹1,601 crore. The promoter also has one criminal case, 12 tax cases, one disciplinary action by stock exchanges/SEBI and two material civil litigations amounting to ₹17,41 crore. (With PTI inputs) 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>

Fedbank Financial Services IPO to open on November 22; price band fixed at ₹133-140/sh

<ul><li>Tata Technologies, Snapdeal, Fabindia and Navi Technologies are some of the most awaited IPOs of the season. </li><li>Around 13 companies filed their DRHPs between April to June 2023. </li><li>More tech, fintech and direct to consumer companies are expected to go public in the next two years.</li></ul>After a slow start in 2023, the <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> market picked steam after the new financial year started in April. As many as 20 new companies listed on BSE and NSE, raising as much as ₹15,000 crore as of August. An IPO (Initial Public Offer) is the first sale of shares by a privately owned company to institutional and retail investors. Though it’s a far cry from ₹58,346 crore raised in 2022 — a lot of large and small companies alike have filed their draft red herring prospectus (DRHPs) with market regulator SEBI — promising an exciting year ahead. As per an E&amp;Y report, around 13 companies filed their DRHPs in April to June 2023, adding to the pipeline. Most active sectors in recent IPOs include hospitality &amp; construction, automotive &amp; transportation, diversified industrial products, and real estate. Apart from Rishabh Instruments’ ₹490 crore public offer and Ratnaveer Precision Engineering’s ₹165 crore public offers in the coming weeks, the stage has also been set for large companies looking to be listed. Amongst the most anticipated IPOs are Tata Technologies wherein Tata Motors is selling stake. This would be the first Tata company to go public in 19 years as the last company that was listed by the group is industry major TCS. <cmsannotation type="cmsannotation" annotationid="Upcoming IPOs" comment="subhead" text="Upcoming IPOs">Upcoming IPOs</cmsannotation> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rishabh Instruments Limited </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹490.78 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratnaveer Precision Engineering Limited </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹165.03 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><cmsannotation type="cmsannotation" annotationid="Companies who have filed their DRHP" comment="subhead" text="Companies who have filed their DRHP">Companies who have filed their DRHP</cmsannotation> Let’s look at some of the companies who have filed their DRHP and may soon announce their IPO - <ul><li>Navi Technologies</li><li>Tata Technologies</li><li>Balaji Speciality Chemicals</li><li>Snapdeal</li><li>Fabindia</li><li>NSDL</li><li>Imagine Marketing (boAt)</li></ul><cmsannotation type="cmsannotation" annotationid="Techs, fintechs &amp; more" comment="subhead" text="Techs, fintechs &amp; more">Techs, fintechs &amp; more</cmsannotation> New-age companies like Snapdeal filed their papers with the regulator and would be very watched due to the mixed reactions that Internet companies are continuing to receive. Moreover, it would be one the first large e-commerce companies to test the markets. Sachin Bansal’s Navi Technologies is another fintech company that will join the likes of Policybazaar, and household brand FabIndia has also refiled its papers. In spite of a lot of investor concern around new-age companies, experts believe that India will see a lot of tech IPOs in the coming years. Mamaearth’s parent Honasa Consumer has also received a nod from SEBI for their IPO, even though it was delayed as of March this year. “By FY25, India is likely to have up to 40 listed/IPO ready new-age companies, which can grow to 90 by FY28. SaaS, B2C Product Companies, and FinTech are amongst the most promising categories to produce IPO-ready companies," Rohan Agarwal, partner at Redseer said in a recent report. These companies, Agarwal believes, have sizable revenues, sustainable growth, a strong EBITDA, and operate on defensible business models, making them strong candidates for IPO. Another Solapur based specialty chemicals company Balaji Specialty Chemicals also hopes to add to the many companies that have provided outsized returns to their investors in the last few years — as the sector is on an upcycle. "India's current IPO market trend showcases its immense potential and has witnessed a remarkable surge in recent years. In the forthcoming months, there is anticipated to be significant momentum in the Indian IPO market, encompassing both the main and SME market segments," said Adarsh Ranka, partner, financial accounting advisory services leader, network firm of EY Global. <cmsannotation type="cmsannotation" annotationid="Fundraising in 2023" comment="subhead" text="Fundraising in 2023">Fundraising in 2023</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds raised in 2023 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu Prakash R Punglia </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹309 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex Industries </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹351 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pyramid Technoplast </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹153 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Supply Chain </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹880 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Concord Biotech </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,551 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBFC Finance </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,025 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatharth Hospital </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹686 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Netweb Technologies </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹631 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Utkarsh Small Finance Bank </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹500 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senco Gold </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹405 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cyient DLM </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹592 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ideaforge Technologies </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹567 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HMA Agro </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹480 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IKIO Lighting </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹606 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divgi TorqTransfer </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹412 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global Surface </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹155 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Udayshivkumar Infra </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹66 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mankind Pharma </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,326 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avalon Technologies </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹865 crore </td></tr></tbody></table>

IPOs galore – India’s primary market to remain buzzing in 2023

<ul><li>The stock debuted at ₹128 as compared to its IPO price of ₹98 per share.</li><li>Its marketcap is at ₹630 crore, as per BSE.</li><li>The issue received stellar response from non-institutional investors and QIBs who subscribed to the issue by over 130x each. </li></ul>The stock of <keyword id="18628309" type="General" weightage="20" keywordseo="ratnaveer-precision-engineering" source="Orion">Ratnaveer Precision Engineering</keyword> made its market debut at ₹128 on the bourses on Monday — with a 30% premium over its IPO price of ₹98 per share. It gained 5% more during the day, ending with listing gains of 37%. However, it fell short of the grey market’s expectations of 51% listing gains. Its marketcap is at ₹651 crore, as per BSE. The ₹165 crore initial public offer (IPO) was subscribed almost 94 times the shares on offer, as on the last day of the issue. Non-institutional investors and qualified institutional buyers (QIBs) subscribed to the issue by over 130 times each while the retail investor portion was subscribed by 53.96 times. Here are the listing gains of the last six market debuts <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><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></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;">Vishnu Prakash R Punglia </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;">47% </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;">Aeroflex </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;">83% </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;">Pyramid Technoplast </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;">12% </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;">TVS Supply Chain </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% </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;">SBFC </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;">43% </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;">Concord Biotech </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;">21% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The issue is a combination of fresh issue of 13,800,000 shares and offer-for-sale (OFS) of 3,040,000 shares, where the seller is the promoter Vijay Ramanlal Sanghavi. The net proceeds from the fresh issue will be used towards funding working capital requirements of the company, and towards general corporate purposes. The stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes and tubes. It has four manufacturing units, out of which two units are located at GIDC, Savli, Vadodara, Gujarat, one at Waghodia, Vadodara, Gujarat and the other one is located at GIDC, Vatva, Ahmedabad, Gujarat. The company’s total income has been growing gradually in the last three years, but its net profit has grown 2.7 times in FY23 as compared to the year before. Lack of long-term agreements with suppliers, price volatility in the steel sector; in addition to the high-volume-low-margin and the working capital intensive nature of the business have been listed at business risks of the company, in the RHP. It has experienced negative cash flows in relation to its operating, investing and financing activities in the last three financial years. A major portion of its public shareholding is held by shareholders who are extended family members of the promoter. “After the successful completion of the offer, these shareholders shall have the ability to influence the outcome of matters that are submitted to public shareholders for their approval,” the company said in its RHP.

Ratnaveer Precision Engineering stock ends the day with 37% listing gains

<ul><li>RBI Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> has announced the introduction of <keyword id="18348799" type="General" weightage="20" keywordseo="conversational-payments" source="Orion">conversational payments</keyword> on <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>.</li><li>Conversational payment involves the use of AI to make payments easier.</li><li>The central bank has also announced offline UPI payments using NFC end an increase in <keyword id="13424650" type="General" weightage="50" keywordseo="upi-lite" source="Orion">UPI Lite</keyword> limit.</li></ul>UPI (Unified Payments Interface) has made payments easier but the endeavour to simplify procedures is an ongoing process. Currently it involves QR code scanning, clicking and entering PIN for each transaction. Now, India's central bank is bringing in AI (artificial intelligence) to make it easier to pay with <keyword id="18349905" type="General" weightage="20" keywordseo="conversational-upi" source="Orion">conversational UPI</keyword>. The Reserve Bank of India (RBI)’s Governor Shaktikanta Das made major announcements related to UPI at the<a href="https://www.businessinsider.in/policy/economy/news/rbi-policy-mpc-holds-fire-and-keeps-repo-rate-unchanged-inflation-forecast-raised/articleshow/102594613.cms"> Monetary Policy Committee</a> (MPC) meeting. The central bank held its third bi-monthly monetary policy meeting for FY24 on Thursday. At the meet, the governor announced the decisions of the committee. <cmsannotation type="cmsannotation" annotationid="UPI gets AI for conversational payments" comment="subhead" text="UPI gets AI for conversational payments">UPI gets AI for conversational payments</cmsannotation> UPI will soon get artificial intelligence (AI) as the central bank looks to make UPI transactions more interesting. Conversational payments will involve the users engaging in conversation with AI-powered systems to make payments. “Conversational payments on UPI will enable users to engage in conversation with AI systems to make payments,” RBI governor Shaktikanta Das said at the meeting. This has been done with an intention of “harnessing new technologies for enhancing the digital payments experience for users”. While it is not exactly clear how conversational payments will work, the central bank will likely push for an AI chatbot like ChatGPT that will make it easier for users to make payments. "This channel will be made available in both smartphones and feature phones-based UPI channels, thereby helping in the deepening of digital penetration in the country," the central bank said. <cmsannotation type="cmsannotation" annotationid="Offline UPI payments using NFC" comment="subhead" text="Offline UPI payments using NFC">Offline UPI payments using NFC</cmsannotation> Das has also announced the introduction of offline UPI payments using near field communication (NFC) technology through UPI Lite. To recall, UPI Lite was introduced in September 2022 and allows users to use on-device wallets to make instant payments without the need of a UPI PIN. The new announcement will make it easier for customers to make payments, as all you will have to do is tap your smartphone on the point-of-sale (PoS) machine to make the payment. “To promote the use of UPI-Lite, it is proposed to facilitate offline transactions using NFC technology. This feature will not only enable retail digital payments in situations where internet or telecom connectivity is weak or not available, it will also ensure speed, with minimal transaction decline,” the MPC statement said. <cmsannotation type="cmsannotation" annotationid="Increase in UPI Lite limit" comment="subhead" text="Increase in UPI Lite limit">Increase in UPI Lite limit</cmsannotation> The central bank has also announced an increase in the limit of UPI Lite transactions from the existing ₹200 per transaction to ₹500 per transaction. However, the bank continues to restrict the overall limit per instrument to ₹2,000. <cmsannotation type="cmsannotation" annotationid="Experts welcome move" comment="subhead" text="Experts welcome move">Experts welcome move</cmsannotation> Experts have welcomed the central bank’s move towards conversational payments and push for offline UPI. “Offline payments in UPI will add to the customer convenience and on the other hand, facilitating conversational payments on UPI through artificial intelligence is a futuristic move and will have a transformative impact on digital payments,” said Aditya Damani, founder &amp; CEO, Credit Fair. “The RBI Governor's announcement today regarding the introduction of conversational payments and offline functionality in UPI Lite marks a pivotal step that is set to reshape India's economic trajectory. These advancements hold the potential to revolutionise the digital payment ecosystem and drive financial inclusion to new heights,” said Rajsri Rengan, India Head of Development, Banking and Payments, at FIS. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sbfc-finance-ipo-how-to-check-allotment-status/articleshow/102564696.cms">SBFC Finance IPO – How to check allotment, listing date, GMP and more</a> <a href="https://www.businessinsider.in/tech/news/hp-omen-17-gaming-laptop-review-price-performance-and-design/articleshow/102570650.cms">HP OMEN 17 review: A powerful but heavy gaming laptop with a large display</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-slip-5-percent-in-july-companies-build-up-inventory-ahead-of-the-festive-season/articleshow/102494498.cms">As auto sales slip in July, dealers pin hopes on upcoming festive fervour</a>

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