Street signs: IPOs continue to roll on, no data for new HNI category & more

IPOs continue to roll on

Despite sharp sell-off in the secondary markets and lukewarm response to some of the recent offerings, more companies have mustered the courage to go ahead with their listing plans. 

This week, three initial public offerings (IPOs) hit the market.

These include fertiliser manufacturer Paradeep Phosphates (issue size Rs 1,502 crore), luxury watch retailer Ethos (Rs 472 crore), and digital signature provider eMudhra (Rs 413 crore). 

“There isn’t much grey-market activity for these three IPOs. It will be interesting to see how they do, turmoil in the market notwithstanding,” said an investment expert.

Stocks that will make it to FTSE All-World Index

At least five companies that have got listed in the past six months are likely to get added to the FTSE All-World Index, according to insight provider Brian Freitas of Periscope Analytics, who publishes on Smartkarma. 

These include Adani Wilmar (estimated inflows from passive funds of $37.6 million), FSN E-Commerce Ventures ($31.1 million), Star Health ($26.9 million), Paytm ($21.4 million), and PB Fintech ($6.7 million). 

The changes are likely to take place as part of the June rebalance of the FTSE Global Equity Index Series. The announcement is likely to be made on May 20; changes will be effective after close of trading on June 17.

No data for new HNI category

Markets regulator Securities and Exchange Board of India (Sebi) has introduced a new sub-category for investors with an application amount between Rs 2 lakh and Rs 10 lakh. 

This has led to confusion among investors, more so because the subscription figures for this new segment aren’t displayed by stock exchanges. 

“Several of our clients want to place bids in IPOs under this new category. This will enable them to generate higher profits. But they are not sure about the chances of getting an allotment vis-à-vis the retail category. Exchanges should disclose bidding figures for this new segment, just as they do for other segments,” said a broker. 

Sources said while the bidding data for the new category can be made available, exchanges will have to seek Sebi’s permission to change the reporting format.