RK SWAMY MUTED LISTING
73% IPOs trading above issue price as primary market shines in H1, four turn multibaggers
The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.
Listing gains hard to come by in 2024 amid small & midcap selloff
Selloff in mid-cap, small-cap stocks affected IPOs' listing gain predictability. Market volatility, stretched valuations, March decline in NSE's Mid-cap 150, Small-cap 250 indices influenced debut performances. JG Chemicals, RK Swamy, Gopal Snacks, Popular Vehicles, and Krystal Integrated closed below their IPO prices on the opening day.
Sona Machinery lists with 13% discount on NSE SME platform
Sona Machinery shares debut on NSE SME at Rs 125 (12.6% discount from Rs 143 offer price). IPO was subscribed 254 times, to raise Rs 52 crore. The diversified company manufactures agro-processing equipment including Grains Pre-Cleaner machines, Rotary Drum Cleaner, Vibro Classifiers, and Stone Separator.
AVP Infracon IPO: Check issue size, price band, GMP and other details
AVP Infracon's SME IPO opens today. It aims to raise Rs 52 crore. It uses bill of quantities (BOQ) and engineering, procurement, and construction (EPC) methods for road projects. The IPO is in line with the government's initiatives to enhance transportation infrastructure.
RK Swamy makes a lackluster debut on exchanges. What should investors do?
Analysts said the muted pre-listing GMP and negative listing indicate a cautious investor approach, possibly due to volatile market conditions or concerns about competition and working capital requirements.
RK Swamy shares list at 13% discount to IPO price
Marketing services provider RK Swamy listed its shares at a discount on NSE and BSE. The IPO included a fresh equity issue and an offer for sale. Despite volatility, the company received decent subscription demand. FY23 revenue reached Rs 293 crore with a net profit of Rs 31 crore.
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IPO calendar: 7 new issues to hit Dalal Street next week; 8 stocks to list
Seven IPOs, including Popular Vehicles and Krystal Integrated, will open for subscription next week. RK Swamy Ltd, VR Infraspace, Sona Machinery, JB Chemicals, Shree Karni Fabcom, Kourna Fine Diamond, Gopal Snacks, and Pune E-Stock Broking will make their debuts on Dalal Street.
RK Swamy IPO allotment: Check status, GMP, other details
RK Swamy IPO allotment status: Today, the allotment of SME IPO by RK Swami will be finalised. Investors can check the allotment status on NSE or BSE websites, or the IPO Allotment Status page on Kfin Technologies website. The IPO has a GMP of Rs 25, and refunds and share transfer are expected on March 11.
Exicom Tele Systems to list on Tuesday: GMP signals a potential multibagger debut
Exicom Tele Systems, a power management solutions provider, is set to make a spectacular stock market debut on Tuesday with anticipated multibagger returns on the listing day.
Owais Metal and Mineral Processing debuts with 187% premium over IPO price
Owais Metal debuted on NSE SME with a 187.4% premium. The IPO received over 200 times subscription. The company manufactures minerals like Manganese Oxide, Ferro Manganese, and Silico Manganese. It will use the IPO proceeds for manufacturing, working capital, and furnace automation. Its products are used in steel and casting industries, and Manganese Sulphate Plants.
RK Swamy IPO has lots going for a good bet
Out of the total proceeds from the issue, the company plans to utilise ₹87 crore for working capital needs and ₹33 crore to develop IT infrastructure. In addition, the company plans to invest ₹21.7 crore to set up customer experience centres, and ₹10.9 crore for computer-aided telephonic interview centres and digital video content production studios.
RK Swamy IPO opens tomorrow. 10 things to know before subscribing to the issue
The initial public offering (IPO) of RK Swamy will open for subscription on Monday. The issue closes on March 6. Through the public offer, the company plans to raise around Rs 423 crore. Here are 10 things to know about Mukka Proteins IPO before subscribing to the issue.
IPO Calendar This Week: 7 new issues, 8 listings to kickstart a busy month for primary market
Next week, several companies are set to launch their IPOs, including RK Swamy, JG Chemicals, Gopal Snacks, VR Infraspace, Sona Machinery, Shree Karni Fabcom, and Pune E-Stock broking.
BJP's first list of candidates for 2024 Lok Sabha Polls out; PM Modi to contest from Varanasi. Check full list here
The Bharatiya Janata Party (BJP) has released its initial list of candidates for the 2024 Lok Sabha election, featuring over 195 names. Notable figures include Prime Minister Narendra Modi, 34 Union Ministers and Minister of States, Lok Sabha Speaker Om Birla, and two former Chief Ministers. The list includes 28 women, 27 SC, 57 OBC candidates, and 47 candidates below 50 years of age.
RK Swamy IPO: Marketing services company raises Rs 187 crore from anchor investors
The highest allocation has been made to Nippon Life India Trustee LTD-A/C Nippon India Small Cap Fund at 26.72% followed by Aditya Birla Sun Life Insurance Company (10.68%), Pinebridge Global Funds (8.01%) and Bajaj Allianz Life Insurance Company.
Exicom Tele Systems IPO subscribed over 27 times on Day 2. Check GMP, other details
The portion for non-institutional investors was booked 54.36 times while the qualified institutional buyers' (QIBs') quota was booked 4.48 times.
ET Startup Awards 2023: ZopSmart's resilience makes it winner in the Comeback Kid category
Five-year-old ZopSmart is a bootstrapped venture that provides tools to build e-commerce businesses, omnichannel businesses and digital commerce for conventional retailers. It provides services across geographies from Singapore to Japan, Europe, and the US in addition to India.
New draft rules to tackle fake online reviews; IT ministry junks draft data anonymisation guidelines
A senior official in the Department of Consumer Affairs tells us the centre has finalised draft guidelines on countering the spread of fake reviews on ecommerce websites.
Akhilesh's immediate challenge: Balancing new and old leaders
Those who have switched to the SP have done so because they have been given an assurance that they will be fielded by the party in the polls, said people aware of the matter.
Stocks in the news: Maruti, M&M, ONGC, Dr Reddy’s Labs, Infibeam and Route Mobile
Dr Reddy's Laboratories on Saturday said it has inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands.
Remembering Girish Karnad: Veteran playwright-actor who just won’t be Right
One of Kannada’s tallest literary figures, he never shied away from expressing his views.
Ogilvy & Mather, Vermillion, Crayons among 18 shortlisted for government’s publicity
More than two companies are expected to be picked to manage the campaigning work for the Modi govt.
Ambani, Adani and three other billionaires have just lost $15 billion
When Modi government came to power in 2014, Adani was one man projected to benefit the most.
BJP bets big on non-Yadav OBCs in UP Assembly polls
Among OBCs, party’s favourite seems to be Koeri community, Kurmi, Lodh-Rajput, Nishad & Jats. Apart from these, BJP wooing Rajbhars, Baghels & Nonias.
Mayawati is interested in making money, not winning elections: Swamy Prasad Maurya
None of the three leaders has joined any other party. Maurya was the leader of the opposition in the state assembly and one of the trusted lieutenants of Mayawati.
Narendra Modi govt: Wackiest whispers and murmurs in corporate corridors & policy parlours
New govt usually means some redecoration in Delhi’s ministry bhavans. But few ministries are taking the concept of a regime change so seriously as Fin Min.
‘Small ad firms more connected to the ground’
Big changes in the advertising and marketing environment, as well as disruptive technology, means the ad business needs reinvention.
2006 Malegaon blasts: NIA overturns version of Maharashtra ATS and the CBI
The NIA charge sheet meanwhile completely overturns the theory of the Maharashtra ATSand the CBI, who had charge-sheeted nine Muslim men for the 2006 blasts.
Coal India announces its 4-agency empanelment
Coal India, has done a fresh round of empanelment for its creative agencies retaining two of the previous agencies and replacing two of them.
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