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NTPC Green Energy’s ₹10,000 crore IPO opens for subscription on November 19, 2024, with a price band of ₹102-108 per share. Shares of the company are expected to list on the BSE and NSE on November 27.

NTPC Green Energy IPO Opens on November 19, 2024: Key Dates, Price Band, and Investment Insights

NTPC Green Energy&rsquo;s ₹10,000 crore IPO opens for subscription on November 19, 2024, with a price band of ₹102-108 per share. Shares of the company are expected to list on the BSE and NSE on November 27.

Do you want to own a share in India&rsquo;s green energy future?** Then this could be a potential opportunity for you. NTPC Green Energy&rsquo;s ₹10,000 crore IPO opens for subscription on Tuesday, 19 November, and will close on Friday, 22 November. Ahead of the issue&rsquo;s opening, the company is conducting the anchor investor round on Monday, 18 November.
NGEL Price Band: ₹102-108
The price band for the public issue of NTPC Green Energy is set between ₹102-108 per share, meaning the minimum investment for one lot of 138 shares is ₹14,904 at the upper band.
NGEL Listing on 27 November
The company is scheduled to finalise the basis of allotment by Monday, 25 November, and shares will be credited to the demat accounts of successful subscribers on Tuesday, 26 November. For those who do not secure an allotment, the initiation of refunds will also occur on 26 November. The company is expected to list on the BSE and NSE on Wednesday, 27 November.
Where Will IPO Proceeds Go?
The company plans to use the proceeds of its IPO to invest in its wholly-owned subsidiary, NTPC Renewable Energy Limited (NREL). It also plans to utilise the funds for the repayment or prepayment of either all or part of certain outstanding borrowings availed by NREL. Apart from funding NREL, the company intends to allocate some proceeds towards general corporate purposes.
Brokerages on NTPC Green Energy IPO
Analysts at top brokerages such as Reliance Securities and SBI Securities suggest this IPO has long-term potential, aligning well with India&rsquo;s net-zero goals.
About NTPC Green Energy (NGEL)
Incorporated in 2022, NTPC Green Energy serves as an umbrella company for the green business initiatives of public sector power major NTPC. NGEL is a wholly-owned subsidiary of NTPC and undertakes green energy projects through both organic and inorganic routes. The company has set an ambitious target of generating 60 GW of energy by FY32.
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The subway giant made its explosive market debut on Wednesday, the 23rd of October

Tokyo Metro IPO: Why People Are Buying Subway Shares for Free Noodle Toppings

The subway giant made its explosive market debut on Wednesday, the 23rd of October

Would you believe people are buying shares of a company to get free toppings on their noodles? .
But this isn't just any company - it's one of the world's busiest subway systems.
Tokyo Metro just hit the stock market, and it's causing absolute chaos!The subway giant made its explosive market debut on Wednesday, the 23rd of October.
Here's the mind-blowing part - shares sold at 1,200 yen gave investors 45% return in just one day, closing at a whopping 1,739 yen!Get this &ndash; It is Japan's biggest IPO in six years, and it was oversubscribed 15 times!.
Why? Sure, there's the promise of high dividends, but here's the fun part - shareholders get perks like free tempura toppings at Metro's noodle stands, free museum tickets, and even access to golf ranges!.
Also Watch: <a href="https://www.editorji.com/business-news/meta-bans-student-who-tracked-mark-zuckerberg-s-private-jet-1729672714188">Meta Bans Student Who Tracked Mark Zuckerberg's Private Jet</a>

The company has made a muted debut on Dalal Street, listing at ₹1,931/share versus its issue price of ₹1,960/share

Hyundai Motor India Makes A Muted Debut On Dalal Street, Stock Slips After Listing

The company has made a muted debut on Dalal Street, listing at ₹1,931/share versus its issue price of ₹1,960/share

If you didn't get Hyundai Motor India shares through the IPO and are still interested in holding the stock, then you have a chance to get it cheaper. The company has made a muted debut on Dalal Street, listing at ₹1,931/share versus its issue price of ₹1,960/share. It slipped further during the early trade to hit ₹1,844.65/share level, before seeing some recovery.&nbsp;&nbsp;

Hyundai Motor India will launch a ₹25,000 crore IPO on October 15th, India’s biggest ever. Hyundai plans to offload a 17.5% stake in its Indian automaker arm, with shares priced b/w ₹1,865-1,960. Valuation could reach $20 billion. Will you invest

India’s Biggest IPO: Hyundai Motor India Launches ₹25,000 Cr Offer on Oct 15

Hyundai Motor India will launch a ₹25,000 crore IPO on October 15th, India&rsquo;s biggest ever. Hyundai plans to offload a 17.5% stake&nbsp;in its Indian automaker arm, with shares priced between ₹1,865 and ₹1,960. Valuation could reach $20 billion. Will you invest?

The biggest IPO in India's stock market history is about to unfold! Hyundai Motor India is all set to launch its highly anticipated Initial Public Offering (IPO) on October 15th, making waves in the Indian financial landscape. This IPO is expected to raise a massive ₹25,000 crore, marking it as the largest IPO in the country's history.
For those eager to participate early, the anchor portion of the subscription will open on October 14th, followed by the public opening for retail and other investors on October 15th. Investors have a three-day window until October 17th to get in on the action.
The Hyundai India IPO is structured as a pure offer-for-sale by its parent company, Hyundai Motor Co. from South Korea, which will be offloading 17.5% of its stake in the Indian subsidiary. The price band for the shares has been set between ₹1,865 and ₹1,960 per share, leading to an overall valuation of the automaker&rsquo;s Indian arm at ₹1.5 lakh crore or roughly $19-20 billion.
For context, Hyundai Motor India is one of the leading players in the country&rsquo;s automobile sector, boasting an impressive portfolio of vehicles that cater to a wide range of customers. As the company continues to grow in one of the world&rsquo;s largest automotive markets, this IPO is seen as a strategic move to unlock significant value for its South Korean parent.
The buzz around this IPO is huge, and many market experts are keeping a close eye on it. Given its scale, the Hyundai India IPO is expected to be a key event for both retail investors and institutional players.
Will you be seizing this opportunity to invest in Hyundai India&rsquo;s landmark IPO just ahead of Diwali? Let us know in the comments! Be sure to subscribe to Business Hook for real-time updates and analysis on this historic IPO and more exciting stories from the business world!

This development marks a significant milestone for the Indian industry, as it is the first automaker initial share-sale in over two decades, following Japanese automaker Maruti Suzuki's listing in 2003

India's Largest IPO: SEBI Gives Green Signal To Hyundai Motor India’s Public Issue

This development marks a significant milestone for the Indian industry, as it is the first automaker initial share-sale in over two decades, following Japanese automaker Maruti Suzuki's listing in 2003

Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, has received capital markets regulator Sebi's approval to float an initial public offering (IPO).
This development marks a significant milestone for the Indian industry, as it is the first automaker initial share-sale in over two decades, following Japanese automaker Maruti Suzuki's listing in 2003.
Hyundai Motor India's proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component, according to the draft red herring prospectus (DRHP) filed in June.
The South Korean parent is diluting some of the stake through the OFS route.
Since the public issue is completely an OFS, Hyundai Motor India Ltd, which is the second largest carmaker in India after Maruti Suzuki India, will not receive any proceeds from the IPO.
People familiar with the development said that Hyundai Motor India has received an email from the Securities and Exchange Board of India (Sebi) approving its IPO.
In its draft papers, Hyundai Motor India stated that it expects that the listing of the equity shares "will enhance our visibility and brand image and provide liquidity and a public market for the shares".
In February this year, sources had confirmed that the South Korean automaker is looking to raise at least USD 3 billion through an IPO. It may dilute 15-20 per cent stake to raise funds in the range of USD 3.3-5.6 billion, sources had stated.
Hyundai Motor India commenced operations in India in 1996 and currently sells 13 models across segments.
Last month, electric two-wheeler company Ola Electric Mobility got listed on the bourses after successful completion of its Rs 6,145-crore initial share sale.&nbsp;

Bajaj Housing Finance made a remarkable debut on NSE and BSE with a 114% premium, listing at ₹150 over its issue price of ₹70. The ₹6,560 crore IPO got bids worth ₹3.23 lakh crore, with 63.61 times subscription, marking the hottest IPO of 2024.

Bajaj Housing Finance Delivers 114% Listing Gains – Did You Invest?

Bajaj Housing Finance made a remarkable debut on NSE and BSE with a 114% premium, listing at ₹150 over its issue price of ₹70. The ₹6,560 crore IPO got bids worth ₹3.23 lakh crore, with 63.61 times subscription, marking it one of the hottest IPOs of 2024.

Ever dreamt of doubling your money in just a few days?
Well, some Indian investors are living that dream right now!
On Monday, Bajaj Housing Finance made a stunning debut on stock exchanges.
Shares of the company listed at 150 rupees per piece &ndash; that's a cool 114 per cent return over the initial investment of 70 rupees per share in the IPO. This instantly makes it one of the hottest IPOs of the year.
Now, these returns were not unexpected.
The company was in the market to raise 6,560 crore rupees &ndash; and it got bids worth 3.23 lakh crore rupees! Mindboggling, isn't it?
What's your take on the IPO frenzy in India? Let us know in the comments. And don't forget to subscribe for more market news that matters to you!
Also Read: <a href="https://www.editorji.com/business-news/wipro-s-strict-return-to-office-policy-employees-face-leave-cuts-for-non-compliance-1726473854791">Wipro's Strict Return-to-Office Policy: Employees Face Leave Cuts for Non-Compliance</a>

The much-awaited Bajaj Housing Finance IPO has opened to strong response from investors. On day one itself the issue has been over-subscribed.

Bajaj Housing Finance IPO: Over-Subscribed on Day One as Investors Snap Up Shares

The much-awaited Bajaj Housing Finance IPO has opened to strong response from investors. On day one itself the issue has been over-subscribed.

Bajaj Housing Finance IPO has opened to strong response from investors, getting oversubscribed on day one. At 3 PM on September 9, the issue&rsquo;s overall subscription stood at over 1.3x.
The quota for Non-Institutional Investors (NIIs) has seen the strongest response, with almost 3x bids. Subscription has been strong in the shareholder and retail investor quota as well, with both the segments already oversubscribed. Here&rsquo;s what you need to know about this IPO.
<h3>Bajaj Housing Finance IPO Timeline</h3>
Bajaj Housing Finance's IPO opened for subscription on Monday, September 9. The share sale will remain open for three days, till September 11.
The allotment of shares to successful investors will occur on September 12, with demat allocation following on September 13. Refunds will also be initiated on September 13 for those who do not receive an allocation. The company will be listed on the stock exchanges on September 16.
The company has set a price band of ₹66-70 per share for its initial public offering, through which it aims to raise ₹6,560 crore.
<h3>Grey Market Buzz: Robust GMP</h3>
The much-anticipated IPO is generating significant buzz in the grey market, suggesting healthy listing gains for allottees. According to platforms tracking these unregulated markets, shares of Bajaj Housing Finance are currently commanding a premium of around ₹55 per share, indicating an anticipated return of at least 80% upon listing.
<h3>Bajaj Housing Finance: The Profile</h3>
Bajaj Housing Finance is a non-deposit-taking Housing Finance Company. Its core business is providing customers with loans primarily used to buy or renovate houses and commercial spaces. The company has been registered with the National Housing Bank since September 2015 and has been active in the mortgage lending business since financial year 2017-18.
<h3>Bajaj Housing Finance: The Strengths</h3>
Bajaj Housing Finance is India&rsquo;s second largest housing finance company. A key element in its home loan portfolio is the fact that it has the highest salaried customer mix amongst large HFCs.
<h3>Why The Share Sale?</h3>
The Bajaj Housing Finance IPO is in line with Reserve Bank of India regulations, which mandate that upper-layer non-banking finance companies be listed by September 2025. The company plans to use the proceeds from the fresh issue to strengthen its capital base and meet future capital requirements.
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Launched in 2010, FirstCry is India's largest multi-channel, multi-brand retailing platform for mothers', babies' and kids' products

IPO Corner: Stellar stock market debut for FirstCry; Stock generates 40% return on listing

Launched in 2010, FirstCry is India's largest multi-channel, multi-brand retailing platform for mothers', babies' and kids' products

Shares of e-commerce platform FirstCry's parent Brainbees Solutions Ltd on Tuesday listed with a premium of 40 per cent against the issue price of Rs 465.
The stock made its debut at Rs 625, a jump of 34.40 per cent from the issue price on the BSE. Later, it surged 52 per cent to Rs 707.05.
At the NSE, it listed at Rs 651, reflecting a sharp rally of 40 per cent.
The company's market valuation stood at Rs 34,741.21 crore.
The initial public offer of Brainbees Solutions received 12.22 times subscription on the closing day of bidding on Thursday.
The Rs 4,194 crore initial share sale had a price band of Rs 440-465 a share.
The public issue of Pune-based Brainbees Solutions had a fresh issue of equity shares valued at Rs 1,666 crore and an OFS (Offer For Sale) component of up to 5.44 crore shares worth Rs 2,528 crore by existing shareholders.
The company will use net proceeds from the fresh issue for setting up stores under the brand 'BabyHug', investment in subsidiaries, overseas expansion, and sales and marketing initiatives. Besides, a portion will be used for corporate general purposes.
Launched in 2010, FirstCry is India's largest multi-channel, multi-brand retailing platform for mothers', babies' and kids' products. It was set up to create a one-stop destination for parenting needs across commerce, content, community engagement, and education, based on brand affinity, loyalty and trust of customers.
Further, FirstCry established itself in the UAE and Saudi Arabia in 2019 and 2022, respectively.

The primary market buzzes with three new IPOs, including Emcure Pharmaceuticals and Bansal Wire Industries, and 11 listings on Dalal Street this week

Three initial public offerings, 11 listings to debut on Dalal Street this week

<h2>The primary market buzzes with three new IPOs, including Emcure Pharmaceuticals and Bansal Wire Industries, and 11 listings on Dalal Street this week</h2>

Amid an increased participation by both companies and investors, the primary market is all set to witness a buzzing week ahead. On July 1, Dalal street will see three initial public offerings, with two under the mainboard segment. Similarly, there will also be 11 new listings that will hit the market.
<h3>IPOs this week</h3>
As per NDTV Profit, the public offerings of Emcure Pharmaceuticals Ltd., and Bansal Wire Industries Ltd. will open for subscription on July 3. In the small and medium enterprise space, investors can begin bidding for Ambey Laboratories Ltd's issue on July 4.
The price band for Emcure Pharmaceuticals is set at Rs 960&ndash;1,008 per share as the pharma company is seeking to raise up to Rs 1,952 crore. The IPO will consist of a fresh issue of Rs 800 crore and an offer for sale of 1.14 lakh crore equity shares.
Bansal Wire Industries has set its price band at Rs 243-256 apiece. The company planning for a Rs 745 crore IPO.&nbsp;
<h3>Listing Debut</h3>
Among the 11 companies that will debut on the Dalal Street, 9 are from the SME space. As per NDTV Profit, the mainboard IPOs of Vraj Iron &amp; Steel Ltd. and Allied Blenders &amp; Distillers Ltd. were subscribed 119.04 times and 23.55 times on their final day of subscription.
Meanwhile, Allied Blenders, the maker of Officer's Choice whisky raised Rs 1,500 crore in the primary market through an offer for sale totalling Rs 500 crore and a fresh issue of shares worth Rs 1,000 crore.
Also Watch: <a href="https://www.editorji.com/business-news/markets/zepto-ipo-plans-raises-665-million-fundraise-valuation-goes-up-to-3-6-billion-1718956031304">Zepto IPO plans: Raises $665 million fundraise; valuation goes up to $3.6 billion</a>
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Ola Electric has received SEBI approval for an IPO, aiming to raise up to Rs 5,500 crore. Funds will support the Ola Gigafactory, debt repayment, and research

SEBI approves Ola Electric's Rs 5,500 crore IPO

<h2>Ola Electric has received SEBI approval for an IPO, aiming to raise up to Rs 5,500 crore. Funds will support the Ola Gigafactory, debt repayment, and research</h2>

Ola Electric, the prominent electric two-wheeler manufacturer, has secured approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The company filed its preliminary IPO papers with SEBI in December 2023 and received the green light on June 10, according to an update from the markets regulator.
<h3>Ola IPO</h3>
The proposed IPO will feature a combination of a fresh issue of equity shares worth up to Rs 5,500 crore and an offer for sale (OFS) of 9.52 crore equity shares by the company&rsquo;s promoters and investors, as detailed in the draft red herring prospectus (DRHP). The proceeds from the fresh issue are earmarked for several strategic initiatives, including capital expenditure for the Ola Gigafactory project, debt repayment by subsidiary OET, investment in research and product development, organic growth efforts, and general corporate purposes.
Ola Electric, headquartered in Bengaluru, manufactures electric vehicles (EVs) and essential EV components, such as battery packs and motors, at its Ola Futurefactory in Krishnagiri. The company is also developing an extensive EV hub in Tamil Nadu, spanning Krishnagiri and Dharmapuri districts. This hub includes the Ola Futurefactory, the forthcoming Ola Gigafactory, and co-located suppliers.
The company launched its first EV model, the 'S1 Pro', in August 2021 and now boasts a portfolio of five scooter models. Ola Electric quickly emerged as the leading electric two-wheeler manufacturer in India, achieving the highest sales based on E2W registrations on the VAHAN Portal of the Ministry of Road Transport and Highways within nine months of delivering its first EV scooter.
As of June 2023, Ola Electric held a 31% market share in the E2W segment and is exploring opportunities to export EVs to select international markets. The company operates a direct-to-customer (D2C) omni-channel distribution network, which includes 935 experience centres across India, featuring 414 service centres as of October 31, 2023.
For the fiscal year 2023, Ola Electric reported a significant increase in revenue, jumping more than seven times to Rs 2,630.93 crore from Rs 373.42 crore the previous year.
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&nbsp;

Hyundai Motor India aims to raise $3bn via an IPO, targeting a valuation between $18bn and $20bn. This IPO could become India's largest, surpassing LIC's $2.7bn record

Hyundai Motor India IPO: Aims for $3 billion with valuation target of $18-20 billion, says Report

<h2>Hyundai Motor India aims to raise $3bn via an IPO, targeting a valuation between $18bn and $20bn. This IPO could become India's largest, surpassing LIC's $2.7bn record</h2>

Hyundai Motor India is planning to go public and is gearing up to file draft papers with SEBI, reported Moneycontrol. As per the report, the South Korean auto giant's Indian subsidiary is planning to raise around $3bn via an initial public offer (IPO) at a targeted valuation between $18 bn to $20 bn
<h3>Hyundai Motors IPO</h3>
If this plan goes through, this will be India Inc's biggest-ever IPO and beat the earlier record set by state-owned LIC's $2.7 bn listing in 2022.&nbsp;
"The plan is for the e-filing of the draft red herring prospectus to be done today ( June 14) with Sebi in the second half. But it may spill over depending on the pace of finishing touches. The issue is entirely an offer for sale ( OFS) by the parent which is expected to sell 140 million to 150 million shares," a person with knowledge of the matter told Moneycontrol.
As per Moneycontrol, Citi, HSBC Securities, JP Morgan, Kotak Mahindra Capital and Morgan Stanley are the i-banks advising on the transaction with law firm Shardul Amarchand Mangaldas acting as the company counsel.
The publication had earlier reported that the filing of draft papers by Hyundai's India unit was expected by end June.&nbsp;
<h3>Hyundai Motor India performance</h3>
In terms of passenger vehicle sales, Hyundai Motor India was India's second largest carmaker after Maruti Suzuki in FY24. As per Autocar Professional, among the non-listed car manufacturers Hyundai's India unit saw the highest revenue as it ended FY23 with revenue of Rs 60,000 crore and profits of Rs 4,653 crore.
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Haldiram's is considering an IPO after bids from foreign investors fell short of its $12 billion valuation. The Aggarwal family may still proceed with a sale. A Blackstone-led consortium previously submitted a non-binding bid for the company

Haldiram's IPO: Snacks maker mulls going public as sale talks halt

<h2>Haldiram's is considering an IPO after bids from foreign investors fell short of its $12 billion valuation. The Aggarwal family may still proceed with a sale. A Blackstone-led consortium previously submitted a non-binding bid for the company</h2>

Haldiram's snacks is mulling a possible initial public offering for the food producer and restaurant operator, as plans to sell it to foreign investors have come to an halt, reported The Economic Times. As per the report, the Aggarwal family is considering a listing as bids in the region of $8 billion to $8.5 billion didn&rsquo;t meet its valuation expectations of about $12 billion
<h3>IPO by Haldiram</h3>
The Economic Times report further said that the IPO considerations are preliminary and the controlling shareholders may still decide to lower their asking price and proceed with a sale.
Earlier media reports suggested that a consortium led by Blackstone, the world&rsquo;s largest private equity fund, along with Abu Dhabi Investment Authority (ADIA) and GIC of Singapore, submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food Pvt Ltd.
As per Bloomberg, in India, $3.9 billion was raised through IPO this year which is twice the fund raised during the same period in 2023 and more than Hong Kong and Korea combined.&nbsp;
Haldiram's was started in the 1930s in North India by Ganga Bishan Agarwal. It sells a range of foods from sweet and savory snacks to frozen meals and breads and runs 43 restaurants in and around Delhi
Also watch: <a href="https://www.editorji.com/business-news/blackstone-partners-look-to-buy-up-to-76-stake-in-haldiram-snacks-valuing-the-business-at-around-8-bn-1715684079875">Blackstone &amp; partners look to buy up to 76% stake in Haldiram snacks valuing the business at around $8 bn</a>

In May, five firms raised Rs 9,606 crore through IPOs, the highest in eight months. TBO Tek had the best debut with a 55% premium. Upcoming IPOs may delay due to market volatility and election uncertainty

5 firms raised Rs 9,606 crore via initial public offerings in May

<h2>In May, five firms raised Rs 9,606 crore through IPOs, the highest in eight months. TBO Tek had the best debut with a 55% premium. Upcoming IPOs may delay due to market volatility and election uncertainty</h2>

Five firms collectively raised Rs 9,606 crore via initial public offering in May which was the highest in 8 months, since September 2023. As per Mint, the offers for sale category accounted for 64% of the total fundraising, approximately Rs 6,200 crore, while the fresh capital issuances contributed Rs 3,404 crore.&nbsp;
<h3>IPO Fundraising</h3>
It must also be noted that none of the 5 IPOs were listed at a discount to their issue prices. TBO Tek witnessed the best debut performance, listing at a 55% premium to its IPO price, followed by Indegene, which debuted at a 45% premium.
Awfis Space Solutions posted 9.9% listing gains, Go Digit General Insurance debuted at 5.1% premium. Meanwhile, Aadhar Housing Finance was listed at 0 percent premium/discount i.e. same as its issue price.
On the issue sizes, four issues exceeded Rs 1,000 crore with Aadhar Housing Finance having the highest issue size of Rs 3,000 crore, followed by Go Digit General Insurance with Rs 2,615 crore, Indegene Ltd with Rs 1,842 crore, and TBK Tek Ltd with Rs 1,550.80 crore. Meanwhile, Awfis Space Solutions raised Rs 598.93 crore via its IPO.
As per Mint, all the 5 IPOs were oversubscribed. Awfis Space was the most subscribed IPO in May with its overall subscription in the 3 days of bidding at 108.2. It was followed by TBO Tek, which received 86.69 times bids, Indegene at 70.3 times and Aadhar Housing Finance at 26.76 times. Meanwhile, Go Digit General Insurance witnessed the lowest total subscription at 9.6 times.
<h3>Upcoming IPOs</h3>
Meanwhile, Mint quoted experts and said that upcoming IPO aspirants might delay their plans due to short-term volatility risks. Until there is some stability in the secondary market, there might not be much activity in the IPO market.
"Markets don't like any turbulence. And if there is any turbulence in the secondary market, then the primary market activity becomes tepid. There has been no certainty regarding who will come to power during the previous election cycles. This time, investors are a lot more surefooted," Pranav Haldea, managing director of Prime Database told Mint.
In 2024, around 11 IPOs with issue size of more than ₹9,200 crore have received permission from SEBI. However, they are not listed yet.&nbsp;
"India has become the 2nd largest IPO market. With election results being out, the continuation of existing policies is highly expected which will fuel the IPO boom further. We witness significant capital to be deployed in public markets &amp; strong demand for new-age as well conventional companies. We believe that companies with good fundamentals will go public &amp; attract large amounts of capital from the street. The upcoming Union Budget will be a crucial trigger for understanding the new government&rsquo;s strategy for the economy," Mahavir Lunawat, Managing Director, Pantomath Capital Advisors told Mint.
As per Mint, in 2024, so far, 29 IPOs have raised ₹27,651 crore from market till May. In 2023, the country saw 57 IPOs with an aggregate issue size of ₹49,436 crore.
Also watch: <a href="https://www.editorji.com/business-news/bharti-hexacom-fixes-ipo-price-band-at-542-570-per-share-here-are-the-details-1711440517199">Bharti Hexacom fixes IPO price band at ₹542-570 per share; Here are the details</a>

The IPO will exclude The Leela Mumbai, which is promoted by HLV Limited and already listed

The Leela palaces, hotels and resorts to seek $2.5 billion valuation in IPO: Report

The IPO will exclude The Leela Mumbai, which is promoted by HLV Limited and already listed

The Leela Palaces, Hotels and Resorts is aiming for a valuation of at least 2.5 billion dollars or approximately 21,000 crore rupees in its upcoming initial public offering, according to a report by Mint.
This marks a significant turnaround for the hotel chain, which faced severe debt and defaults five years ago.
Also read/watch - <a title="Gold, Silver Price Today June 10, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru" href="https://www.editorji.com/business-news/personal-finance/gold-silver-price-today-june-10-2024-check-latest-rates-in-mumbai-delhi-chennai-bengaluru-1717996357801">Gold, Silver Price Today June 10, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru</a>
The report further added that the IPO is expected to raise approximately 3,150 crore rupees, making it the largest IPO in India's hospitality sector.
Promoter Brookfield has engaged JM Financial and Bank of America as investment bankers for the offering.
The Canadian investor plans to sell 15% of its stake to the public initially and an additional 10% over the next three years. The IPO will exclude The Leela Mumbai, which is promoted by HLV Limited and already listed.

IPOs reach 8-month peak in May, raising Rs 9,600 crore

The report further adds that five companies collectively raised 9,606 crore rupees through IPOs in May, the largest amount since September 2023

The initial public offering or IPO market saw over 9,600 crore rupees raised in May, marking the highest monthly total in eight months, as per the moneycontrol report. This comes amidst a continued rally in the midcap and smallcap sectors.
The report further adds that five companies collectively raised 9,606 crore rupees through IPOs in May, the largest amount since September 2023.
Four of these issues exceeded 1,000 crore rupees. Aadhar Housing Finance led the way with 3,000 crore rupees, followed by Go Digit General Insurance with 2,615 crore rupees, Indegene Ltd with 1,842 crore rupees, and TBK Tek Ltd with 1,550 crore rupees.
In the past two months, the primary focus of IPOs has been to benefit existing shareholders through listings. Approximately 75% of the funds raised have been via the Offer for Sale (OFS) route, excluding Vodafone. Funds raised through OFS go directly to the existing shareholders who have sold their stakes and do not benefit the company financially.
Meanwhile, the stock market has seen declines in May. The Sensex and Nifty have dipped by 0.7% and 0.4%, respectively. The broader market indices, such as the BSE MidCap and SmallCap, have experienced losses of 2.5% and 1.2%, respectively.

The loss of $207 million was on a revenue of $1.02 billion of April to December 2023 against the fiscal year 2022-23 revenue of $1.05 billion for Swiggy

Ahead of IPO plans, Swiggy records $200 million loss: Report

<h2>The loss of $207 million was on a revenue of $1.02 billion of April to December 2023 against the fiscal year 2022-23 revenue of $1.05 billion for Swiggy</h2>

Food delivery giant Swiggy has recorded a $200 million loss for the nine months to December 2023, according to an internal document accessed by Reuters. The news agency had previously reported that Swiggy is planning to go public by the end of this year.
<h3>Swiggy's Performance</h3>
The report further mentioned that for the full fiscal year 2022-23 Swiggy made a loss of $500 million. However, the company's lower wage payouts and cuts in marketing spending will help it trim losses for the full year 2023-24.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/startups/swiggy-increases-platform-fee-amidst-competitive-food-delivery-landscape-1697522347879">Swiggy increases platform fee amidst competitive food delivery landscape</a>
The document accessed by Reuters showed that losses stood at Rs 17.3 billion - $207 million during April to December 2023 - the first nine months of fiscal year 2023-24. The loss was on a revenue of $1.02 billion of the same period against the fiscal year 2022-23 revenue of $1.05 billion.
<h3>IPO plan</h3>
As Indian stock market has surged 28% many companies are planning listing. Paytm which was listed in 2021 and still a loss-making entity has seen its shares drop by 80%. Similarly, Zomato's shares also dropped after the 2021 listing however they have surged 45% this year after posting two successive quarterly profits.
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The fiscal year 2023-24 witnessed a remarkable surge in IPO fundraising, with Indian corporates collectively raising ₹61,915 crore, marking a 19% increase from the previous fiscal year

FY24 records strong increase in IPO fund raising

The fiscal year 2023-24 witnessed a remarkable surge in IPO fundraising, with Indian corporates collectively raising ₹61,915 crore, marking a 19% increase from the previous fiscal year

The financial year 2023-24 witnessed a surge in Initial Public Offerings (IPOs) with 76 Indian corporates collectively raising about ₹61,915 crore. This marks a 19% increase from the previous fiscal year's mobilization of ₹52,116 crore through 37 IPOs.
Among the standout IPOs of FY24, Mankind Pharma led the charge with a substantial ₹4,326 crore, followed closely by Tata Technologies securing ₹3,043 crore and JSW Infrastructure raising ₹2,800 crore.
On the flip side, Plaza Wires and Vibhor Steel marked the smaller end of the spectrum, garnering ₹71 crore and ₹72 crore respectively.
Despite the rise in total funds raised, the average deal size saw a significant reduction to ₹815 crore, down from ₹1,409 crore in 2022-23 and ₹2,105 crore in 2021-22.
Excluding the monumental IPO of LIC in 2022-23, the overall fund mobilization in FY24 would have soared by 58%, as per PRIME Database, a website tracking domestic IPO movement.&nbsp;
The listing gains also witnessed a considerable uptick, with the average standing at 29%, compared to 9% in 2022-23.&nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/markets/mutual-fund-investors-to-redo-their-kyc-by-march-31-or-else-1711600766054">Mutual Fund investors to redo their KYC by March 31 or else...</a>

The Kolkata-based firm is India's largest zinc oxide manufacturer in terms of production and revenue

JG Chemicals makes muted market debut; shares slip below ₹200 on listing day

<h2>The Kolkata-based firm is India's largest zinc oxide manufacturer in terms of production and revenue</h2>

Shares of JG Chemicals Ltd on Wednesday listed with a discount of over 5 per cent against the issue price of Rs 221.
The stock made its debut at Rs 211, lower 4.52 per cent, from the issue price on the BSE. Later, it tanked 11.26 per cent to Rs 196.10.
At the NSE, shares of the company listed at Rs 209 with a discount of 5.42 per cent.
The company's market valuation stood at Rs 772.16 crore.
In the broader equity market, the 30-share BSE Sensex traded marginally higher by 17.24 points at 73,685.20, while the Nifty quoted 33.80 points lower at 22,303.50.
The Initial Public Offer (IPO) of JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday.
The Rs 251.2 crore IPO was in a price range of Rs 210-221 a share.
The zinc oxide manufacturer's initial public offer had a fresh issue of up to Rs 165 crore shares and an offer for sale of up to 39 lakh equity.
The Kolkata-based firm is India's largest zinc oxide manufacturer in terms of production and revenue. It sells over 80 grades of zinc oxide and is among the top 10 manufacturers of zinc oxides globally.&nbsp;

HNIs who use borrowed funds to buy IPOs, first open multiple accounts in Non Banking Financial Corporations in the name of family members, their firm, family office and even employees avail loan from NBFCs against a collateral and then apply for IPO funding

Here's how HNIs bypass RBI's Rs 1 crore limit on IPO funding by NBFCs

<h2>HNIs who use borrowed funds to buy IPOs, first open multiple accounts in Non Banking Financial Corporations in the name of family members, their firm, family office and even employees avail loan from NBFCs against a collateral and then apply for IPO funding</h2>

The high net worth Individuals (HNI) have been bypassing the Reserve Bank of India's Rs 1 crore limit on IPO funding by NBFCs, reported Moneycontrol quoting a market source. According to the report, they have been doing that by opening multiple accounts with the non-banking finance companies (NBFCs).
The Reserve Bank of India has imposed a ceiling of Rs 1 crore on the amount that NBFCs can lend a borrower for an issue to control the IPO market frenzy fuelled by the NBFCs
<h3>HNIs Modus Operandi</h3>
The HNIs who use borrowed funds to buy IPOs, first open multiple accounts in Non Banking Financial Corporations (NBFC) in the name of family members, their firm, family office and even employees.
NBFCs are also keen on IPO financing as they get control over the client&rsquo;s bank account and demat account through power of attorney (PoA) agreements. This arrangement minimises the risk for NBFCs.
After opening multiple accounts, the HNIs avail loan against share (LAS) or loan against property (LAP) from the same NBFC. As the loans are taken against a collateral there is nothing illegal in this.&nbsp;
The funds are then directed to the multiple accounts towards the upfront margin, and each of those account then apply for IPO funding.
On the face of it, this is not illegal because each of the accounts are separate entities,&rdquo; said an HNI. &ldquo;But in majority of the cases, the NBFC is aware that money is ultimately going to the same client. That makes a mockery of the RBI rule, which was put in place to reduce use of NBFC funding in IPOs,&rdquo; a HNI told Moneycontrol.
The NBFCs also collect certain amount from the clients as a margin. Depending on how many times the NBFC expects the issue to be oversubscribed the margin may vary between 1 and 10%.
Lower the subscription, higher is the margin collected from the clients and vice versa. This is because, higher the number of times the issue is subscribed, lesser the number of shares that will be allotted to applicants. So a lower upfront margin will be enough to cover any potential downside if the IPO flops on listing.
NBFCs also seek an undertaking from clients on the end use of funds even for the loans that were taken against shares or property.&nbsp;
&ldquo;If they are using it to repay loans, we ask for the bank statements and if they are using it for investments, we ask for proof for that as well,&rdquo; said an official at one of the top five NBFCs to Moneycontrol.
However, this rule is not enforced in the case of IPO funding because of the short-term nature of the funding.
<h3>Change in rules likely</h3>
In light of the recent crackdown on IIFL Finance and JM Financial by the RBI, Moneycontrol reported that two rules could be made tighter. As per the Moneycontrol report, the RBI may get stricter about the upfront margin that NBFCs collect from clients for IPO financing. At present, it is at the discretion of the NBFC, based on its relationship with the clients and its assessment of the client&rsquo;s financial situation.
The Reserve Bank of India may also take a much harsher view if there is an obvious discrepancy between the stated end use of funds and for the purpose it has been deployed for.&nbsp;

As per Prime Database, a total of 57 Indian corporates raised Rs 49,434 crore through main board IPOs in 2023, 17% lower than the Rs 59,302 crore mobilized by 40 IPOs in 2022

India tops in terms of number of IPOs in 2023

<h2>As per Prime Database, a total of 57 Indian corporates raised Rs 49,434 crore through main board IPOs in 2023, 17% lower than the Rs 59,302 crore mobilized by 40 IPOs in 2022</h2>

A new report by EY India has revealed that Indian stock exchanges including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) ranks 1st in terms of the number of IPOs in 2023, with no cross-border deals.
<h3>IPOs in India</h3>
The leading global professional services organization mentioned that both BSE and NSE recorded 31 IPOs (including one InvIT) in the fourth quarter of 2023. This is a significant uptick compared to the same period in 2022 and the third quarter of 2023. This represents a remarkable 72% increase over Q4 2022 and a substantial 41% increase over the third quarter (Q3) 2023.
As per Prime Database, a total of 57 Indian corporates raised Rs 49,434 crore through main board IPOs in 2023, 17% lower than the Rs 59,302 crore mobilized by 40 IPOs in 2022. In 2021, a record-breaking 63 IPOs raised a whopping Rs 1,18,723.17 crore.
Also Read: <a href="https://www.editorji.com/business-news/markets/after-an-impressive-ipo-run-in-2023-rs-60-000-crore-share-sale-lined-up-for-2024-1703230123176">After an impressive IPO run in 2023, Rs 60,000 crore share sale lined up for 2024</a>
Meanwhile, the fourth quarter of 2023 emerged as the standout period of the year, accounting for nearly 40% of the total listings in 2023. In the second half of the year over 18 companies filing their Draft Red Herring signalling a brighter &nbsp;outlook for 2024.
"Looking ahead to Q4FY24, the Indian IPO market is anticipated to continue its upward trajectory, buoyed by optimistic investor sentiment, a robust economy, and expectations of lower inflation and rate cuts in 2024. This positive environment is expected to fuel further growth in both the number and average size of mainboard and SME IPOs," said Adarsh Ranka, Partner and Financial Accounting Advisory Services Leader, member firm of EY Global.
Across the main and SME markets in the fourth quarter of 2023, Consumer Products &amp; Retail sector saw 21 IPOs, Diversified Industrial Products - 14 IPOs, Automotive &amp; Transportation, and Technology sectors witnessed 9 IPOs each.
"From a sectoral perspective, the Power &amp; Utilities, Health, Automotive &amp; Transportation, and Banking and Capital Markets sectors have emerged as the most active, based on recent DRHP filings. Furthermore, the recent amendment by market regulator Sebi to the Real Estate Investment Trusts Regulations, 2014, facilitating the creation of Small &amp; Medium Real Estate Investment Trusts (SM REITs), is poised to spur further growth and innovation in the market," said the report.
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