Page 20 - Market News

WeWork India IPO sees 4% subscription on first day of share sale

The initial public offering (IPO) of co-working space operator WeWork India Management Ltd received 4 per cent subscription on the first day of share sale on Friday. The IPO received bids for 11,10,440 shares against 2,54,89,748 shares on offer, as per NSE data. The quota for retail individual investors (RIIs) got subscribed 14 per cent, while the categories for qualified institutional buyers and non-institutional investors received 2 per cent subscription each. WeWork India has collected a little over Rs 1,348 crore from anchor investors. The company's Rs 3,000-crore issue will conclude on October 7. The price band has been fixed at Rs 615-648 per share, valuing the company around Rs 8,685 crore at the upper end. The IPO, entirely an offer for sale of up to 4.63 crore equity shares, will see promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global) divest their stakes. Currently, Embassy Group holds about 76.21 per cent in WeWork Indi

IPO-bound Tata Capital focuses on green financing, tech for growth

Tata Capital Ltd, set to launch its IPO next week, has identified green financing and digital innovation as its core growth pillars, backed by the merger of its IFC-backed subsidiary Tata Cleantech Capital in 2024. By FY25, the cleantech and infrastructure finance book reached Rs 18,000 crore, growing at a 31.8 per cent CAGR over the last two years, the NBFC said on Friday. "Over the last decade, the cleantech portfolio has financed over 500 renewable projects and sanctioned more than 22,400 MW of capacity across solar, wind, biomass, small hydro, among others," MD and CEO Rajiv Sabharwal said. "The cleantech segment combines rapid growth with high-quality, secured assets, underpinned by technology-driven monitoring and disciplined underwriting. The portfolio is among the cleanest in the NBFC space, positioning the company as a key mobilizer of global climate capital," he said. The Tata Group NBFC said it is building for the long term with a vision anchored on trust, ...

Lalbaba Engineering, CJ Darcl Logistics and Jerai Fitness file draft IPO

Engineering solutions company Lalbaba Engineering, CJ Darcl Logistics, the India arm of South Korea's logistics firm CJ Logistics, and fitness equipment maker Jerai Fitness and have filed draft papers with markets regulator Sebi to garner funds through initial share-sales. With these filings, the IPO pipeline remains strong. Over the past few days, nearly two dozen companies have submitted draft papers with Sebi, and so far, 77 main-board IPOs have been launched this year and several large issues are lined up for this month. The filing also comes at a time when the Indian market is experiencing a boom in primary market activity, despite a struggling broader equity market. The Kolkata-based Lalbaba Engineering's proposed IPO is a fresh issue of Rs 630 crore and an offer for sale (OFS) of Rs 370 crore by promoters, according to the draft papers filed on September 29. Proceeds from its fresh issuance worth Rs 271 crore will be utilised for funding capital expenditure requirement for .

Glottis IPO receives over two times subscription on final day of bidding

The initial public offer of logistics service provider Glottis Ltd garnered 2.05 times subscription on the final day of bidding on Wednesday. The Rs 307-crore share sale received bids for 4,12,93,878 shares against 2,01,23,929 shares on offer, according to details available with the NSE. The component meant for non-institutional investors attracted 2.97 times subscription, while the category for Qualified Institutional Buyers (QIBs) received 1.87 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 1.42 times. Glottis on Friday said it has mobilised a little over Rs 55 crore from anchor investors. The price band for the offer is Rs 120-129 per share. At the upper end, the company is valued close to Rs 1,200 crore. The Chennai-based company's IPO is a combination of a fresh issue of equity shares worth Rs 160 crore and an offer for sale (OFS) of up to 1.14 crore equity shares valued at Rs 147 crore at the upper end, by promoters. Proceeds from the fr

Jain Resource gains 37% on debut; Epack, BMW Ventures end weak

Jain Resource stock ended at ₹318, up 37.2 per cent over its issue price. At the last close, the company was valued at nearly ₹11,000 crore

LG Electronics India seeks $8.7 billion valuation in October IPO

LG Electronics India Ltd. got regulatory approval for its updated draft red herring prospectus on Thursday and filed the final version on Tuesday

LG Electronics India to launch its ₹15,000 crore IPO on October 7

LG Electronics India Ltd, the local subsidiary of South Korean conglomerate LG, is preparing to launch its Initial Public Offering (IPO) on October 7. The share sale will remain open for subscription until October 9, while the bidding for anchor investors will open on October 6, the company said in its Red Herring Prospectus (RHP) filed on Tuesday. This will be the second South Korean company to tap the Indian stock market following the listing of Hyundai Motors India Ltd in October last year. LG Electronics India had filed its preliminary papers with Sebi in December for an IPO in which the parent company will offload more than 10.18 crore shares, representing about 15 per cent stake. The company received the regulator's approval for the public offering in March. The company did not disclose the total issue size, but people familiar with the matter had earlier pegged the IPO size at Rs 15,000 crore. Since the public issue is completely an Offer For Sale(OFS), LG Electronics Ind

Stock market crash today: Trump tariffs, FII selling drag Sensex 733 pts down, Nifty near 24,650

Sensex today | Stock Market crash highlights, Sept 26: In the broader markets, the Nifty MidCap index declined 2.05 per cent and the Nifty SmallCap index eased 2.2 per cent

Swiggy's Rapido stake sale to help up cash kitty, but concerns remain

The stake sale boosts Swiggy's cash reserves as it shifts Instamart into a new subsidiary to prepare for an inventory-led model amid rising competition

Sebi hikes custodian net worth requirement to ₹75 cr for risk management

Markets regulator Sebi has raised the minimum net worth requirement for custodians to Rs 75 crore from Rs 50 crore at present in a bid to strengthen risk management systems. Existing custodians can achieve new networth requirements within three years, Sebi said. "A custodian, who was granted a certificate of registration prior to the commencement of the Sebi Custodian (Amendment) Regulations, 2025, shall, within three years from such commencement, raise its net worth to not less than Rs 75 crore, separately and independently, of the capital adequacy requirements, if any, for each activity undertaken by it under relevant regulations," Sebi said in a notification dated September 18. Additionally, Sebi has put in place custodians' responsibilities, including maintaining an appropriate governance structure, risk management policies, and scalable infrastructure and appropriate technical capacity. Sebi asked custodians not to indulge in any unfair competition, which is likely to harm ...

Anand Rathi Share and Stock Brokers IPO fully subscribed on Day Two

The initial share sale of Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers Ltd, got subscribed 1.11 times on the second day of bidding on Wednesday. The three-day Initial Public Offer (IPO) received bids for 1,48,34,376 shares against 1,33,63,342 shares on offer, according to NSE data. The quota for non-institutional investors fetched 1.88 times subscription and that of Retail Individual Investors (RIIs) received 1.37 times subscription. The Qualified Institutional Buyers (QIBs) portion got subscribed 2 per cent. Anand Rathi Share and Stock Brokers on Monday announced raising a little over Rs 220 crore from anchor investors. The shares are available for subscription at a price band of Rs 393-414 per share for the company's Rs 745-crore IPO. The broking firm's IPO is entirely a fresh issuance of shares with no offer for sale (OFS) component. Proceeds of the IPO to the tune of Rs 550 crore would be allocated to fund the company's long-term working capital ...

Jain Resource Recycling IPO receives 73% subscription on day one

The initial public offer of Jain Resource Recycling Ltd received 73 per cent subscription on the first day of bidding on Wednesday. The three-day IPO got bids for 2,27,44,384 shares against 3,12,49,999 shares on offer, as per NSE data. The quota for qualified institutional buyers (QIBs) garnered 1.11 times subscription. The category for retail individual investors (RIIs) received 51 per cent bidding, and the portion for non-institutional investors got subscribed 12 per cent. Jain Resource Recycling Ltd has mobilised a little over Rs 562 crore from anchor investors. The IPO, with a price band of Rs 220-232 per share, will conclude on September 26. At the upper end, the company is valued at over Rs 8,000 crore. The Tamil Nadu-based company's IPO has a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale (OFS) valued at Rs 750 crore. The OFS comprises the sale of shares worth Rs 715 crore by promoter Kamlesh Jain and Rs 35 crore by shareholder Mayank ...

Volume gains in auto segment positive for paints major Kansai Nerolac

Among listed companies, Kansai Nerolac has the highest exposure to the auto segment, with 30 per cent of its sales coming from this segment

Balanced advantage funds steadily load up on equities as valuations ease

Equity exposure of most schemes now above 50%

Street signs: Vix hits snooze, IPO stampede, and Damani's double down

Market calm deepens with Vix below 10, IPOs surge to a monthly record, and Radhakishan Damani raises his stake in Blinkit's parent Eternal, signalling faith in quick commerce

Sebi approves Zelio E-Mobility's ₹78 crore IPO for electric vehicles

Electric vehicle maker Zelio E-Mobility Ltd on Friday said it has received approval from capital market regulator Sebi for its SME IPO to raise Rs 78 crore. The company has already got the DRHP (draft red herring prospectus) approval. The IPO may go live at the end of this month, Zelio E-Mobility said in a statement. The IPO, with Hem Securities Ltd as the Book Running Lead Manager, is expected to support the company's next phase of growth, it said, adding that investor participation details and specific use of proceeds will be shared closer to the issue. Citing provisional figures, Zelio said that during FY25, it had a revenue of Rs 172.19 crore, and profit after tax of Rs 16 crore. "Between FY23 and FY25, revenue grew at a CAGR (compound annual growth rate) of 83.29 per cent, and PAT expanded at a CAGR of 128.76 per cent," it added. Founded in 2021, Zelio has an installed annual capacity of 72,000 units. Its portfolio includes a range of electric scooters and three-wheelers ...

Sebi proposes regular updates of NAVs by AIFs in depository systems

To promote transparency in the Alternative Investment Fund (AIF) ecosystem, Sebi on Friday proposed that AIFs should regularly update the net asset value (NAVs) of their units in the depository system. In its draft circular, Sebi has "proposed to leverage upon the depository infrastructure such that AIFs may be required to maintain updated NAV of the units issued to investors based on valuation of their investments in the depository system". Further, Sebi proposed that AIFs or their Registrar and Transfer Agent (RTA) should upload the NAV of ISINs of all AIF units in the depository system, within 15 days of valuation of the investment portfolio. The valuation date will be taken as the date of the valuation report if done by an external valuer, and as the date it is recorded in the fund's internal records if done by an internal valuer. For existing schemes of AIFs, Sebi said that AIFs or their RTAs should upload the latest NAV of ISINs pertaining to all AIF units in the depository .

Sebi, RBI discuss steps to boost trading in corporate bond derivatives

Securities and Exchange Board of India and the Reserve Bank of India are in discussions on corporate bond index derivatives to strengthen trading activity in corporate debt securities, Sebi whole-time member Ananth Narayan G said on Friday. Speaking at the ASSOCHAM National Council for Corporate Bonds, Narayan said, "Corporate bond index derivatives trading is another frontier in this regard. Good discussions are ongoing between Sebi and RBI, and we are hopeful that we will see progress soon." He pointed out that secondary bond volumes are about Rs 1.4 lakh crore a month, while equity markets trade around that much in a single day. If bond trading can be made more comparable to equity trading-- in terms of settlement, platforms, and even trading culture the investment class could see significant growth, he added. In 2023, Sebi allowed stock exchanges to launch derivative contracts on indices of corporate debt securities rated AA+ and above, but the move failed to gain traction. On

Urban Company IPO subscribed 103.6 times on final day of bidding

The Gurugram-based company plans to raise Rs 472 crore through selling new shares, and existing investors plan to sell stakes worth Rs 1,428 crore

US, China rally reignites investor interest in international mutual funds

Net inflows, account additions highest at a multi-month high in August