CSM Technologies lists at 5% discount; Swara Baby Products files ₹1K cr IPO

CSM Technologies lists at a discount, while FirstCry-backed Swara Baby Products files draft papers for a ₹1,000-crore IPO to fund expansion and acquisitions

CSM Technologies made a weak stock market debut, closing at a five per cent discount to its issue price. The stock ended its session at ₹107.35, after opening at ₹113 on Thursday. Post-listing, the company's market capitalisation hit ₹553.96 crore. The IPO was subscribed 1.36 times.

 

FirstCry-backed Swara Baby Products files ₹1,000-cr IPO

 

Swara Baby Products, backed by FirstCry parent Brainbees Solutions, has filed a draft red herring prospectus (DRHP) for a ₹1,000-crore initial public offer (IPO). The offer comprises a fresh issue of equity shares worth up to ₹500 crore and an offer for sale (OFS) of up to ₹500 crore from existing shareholders. Promoters Brainbees Solutions and Anadya Bon Merchari LLP are selling stakes worth up to ₹300 crore and ₹200 crore, respectively. Avendus Capital and JM Financial are the book-running lead managers. The proceeds of the fresh issue will be used to fund unidentified acquisitions, capex to set up a new factory in Madhya Pradesh, borrowing costs, and general corporate purposes. 

Invesco MF enters SIF with Summit Equity Long-Short Fund

 

 

Invesco Mutual Fund (MF) on Thursday announced its foray into the specialised investment fund (SIF) space with the launch of Summit Equity Long-Short Fund. The scheme aims to capture both directional upside and tactical downside opportunities through long and short positions. "Return generation within markets is inherently non-linear and characterised by periodic dislocations. Summit Equity Long-Short Fund is designed to capture both long and short opportunities enabling it to effectively capitalise on market volatility and evolving opportunities," said Hiten Jain, Fund Manager, Invesco MF.