Page 63 - Stock Market

Icon Facilitators plans to raise funds via IPO; eyes Rs 100 cr revenue

Technical facilities management services provider Icon Facilitators on Thursday announced its plan to launch the initial public offer to raise money for expanding operations and is targeting Rs 100 crore revenue by FY27. Khambatta Securities Limited has been appointed as the book-running lead manager to oversee the IPO process, a company statement said. According to the statement, the company aims to achieve a remarkable milestone of Rs 100 crore in revenue by the financial year 2027. It reported Rs 49.84 crore revenue from operations in FY24 against Rs 42.96 crore in FY23. To support this ambitious growth trajectory, it stated that Icon Facilitators Ltd (IFL) is actively exploring an initial public offering (IPO). The IPO will provide the company with the necessary capital to expand its client base, strengthen its geographic presence across India, and invest in cutting-edge technologies to enhance its service offerings, it said. IFL Managing Director Dinesh Makhija said, "We are

NSE plans to triple colocation rack capacity to 4,000 at Mumbai HQ in 3 yrs

The National Stock Exchange (NSE) plans to expand its colocation data centre at its headquarter in Mumbai for trading members with an almost three-fold increase in number of racks to over 4,000 within the next three years, sources said on Wednesday. The expansion will be carried out at the NSE's existing building at Exchange Plaza, Bandra Kurla. The decision is based on member feedback and aimed at enhancing ease of operations and increasing the availability of racks for trading members. Currently, NSE offers 1,400 racks to members, and the planned expansion will boost this capacity to over 4,000 racks within the next three years. Further expansions will be made available as per additional requirements, they added. Co-location facility allows stock brokers to place their servers at a stock exchange in consideration of a fee, giving them access to price data a fraction of second before other participants. NSE, which is the largest stock exchange globally in terms of orders and tra

Bourses call for better checks by merchant bankers on IPO-bound SMEs

Over 80 merchant bankers apprised about discrepancies, lack of background checks

A losing proposition: Odds are against individuals in F&O trading

A vibrant F&O market enables better price discovery, and participants can hedge more efficiently. In aggregate, traders help generate the volumes, which ensure high liquidity and low spreads

Stock market news, MUDA scam, dengue cases in Delhi, RBI rate cut

Sensex reached 85,000 and Nifty crossed 26,000 points for the first time, but both ended flat after a volatile session due to losses in FMCG and some banking stocks.

Markets hit fresh highs on optimism after Federal Reserve rate cut

India has had a blockbuster IPO market this year. Till the end of August 2024, 50 Indian firms together raised Rs 53,453 crore through IPOs

Bajaj now third most valued finance group; overtakes State Bank of India

Bajaj Housing Finance, which more than doubled on listing day, added Rs 1.36 trillion to the group's mcap

Leela hotels owner Schloss files IPO papers to raise for $599 million

The company has 12 operational hotels across ten cities in India and is planning to add eight new hotels through 2028, Schloss said in its IPO prospectus

Shorter LTCG holding period seen boosting gold exchange traded-fund inflows

Strong outlook for gold, absence of SGB issuances also among factors

Spice brand MTR's owner Orkla exploring IPO in 2025, says top executive

The company is looking to expand its play in the international market-with a focus on Gulf Cooperation Council (GCC) countries

Sebi order on Axis Capital: Axis Bank says complied with regulatory norms

Bank's arm was restrained by Sebi from taking new assignment as merchant banker in debt segment

Investors subscribe Arkade Developers' IPO 29.42 times offer size on day 3

The initial public offer of Arkade Developers got subscribed 29.42 times on Wednesday, day three of the share sale. The Rs 410-crore initial share sale received bids for 69,94,46,440 shares against 2,37,75,719 shares on offer, according to NSE data. The quota for non-institutional investors garnered 58.80 times subscription while the Retail Individual Investors (RIIs) part got subscribed 33.26 times. The portion for Qualified Institutional Buyers (QIBs) received 61 per cent subscription. The initial public offer of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription. Realty firm Arkade Developers Ltd has raised Rs 122.40 crore from anchor investors. The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore initial public offering. The initial share sale will conclude on September 19. The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale

Oswal Pumps files IPO papers with Sebi to raise Rs 1k cr via fresh issue

Haryana-based Oswal Pumps has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO is a combination of fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of up to 1.13 crore equity shares by promoter Vivek Gupta, according to the draft red herring prospectus (DRHP) filed on Tuesday. The company may consider raising up to Rs 200 crore in a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue will be used for funding certain capital expenditures of the company; investment in wholly-owned subsidiary, Oswal Solar in the form of debt or equity, setting up new manufacturing units at Karnal, Haryana, payment of debt, and for general corporate purposes. Oswal Pumps commenced its operations in 2003 by manufacturing low-speed monoblock pumps and over the years, it expanded its operations to manufacture grid-connected high-speed

Post-Covid: Households shift to equities amid attractive returns

This trend is being amplified by strong returns in the equity markets in recent years, said Kotak Institutional Equities in a report

Traders shy away from Modi-linked stocks in shift to defensive sectors

A few recent policy reversals highlight the element of uncertainty that investors must grapple with after a decade of certainty, as Modi increasingly leans on coalition partners

Markets hinge on Jerome Powell emulating Greenspan to avoid a recession

To Kristina Hooper, chief global market strategist at Invesco, the US economy looks set to avert a recession as the Fed starts easing policy just ahead of the US election

Multiple growth triggers to drive gains for United Spirits stock

Growth on top: Premiumisation and strategic pricing raise the bar for its Prestige and Above portfolio

Investors subscribe Western Carriers' IPO 79% times offer size on first day

The Kolkata-based company's initial public offering (IPO) is available for subscription in the price range of Rs 163 to Rs 172 per share

Bulls take charge: Sensex breaches 83,000 on global rate-cut hopes

In India, metal stocks were the biggest gainers, with the Nifty Metal index surging 2.9 per cent on hopes that a cut in interest rates in China will boost consumption

Higher limit in FPIs: NRI investments in Gift City off to a slow start

Industry participants note that while there is interest from NRIs and investors, some are reluctant to provide PAN and know-your-customer (KYC) details