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Digital lender Kissht is gearing up for a $225 million initial public offering (IPO) and has engaged ICICI Securities, UBS, and Motilal Oswal to assist in the process. This move marks a significant step for the company as it seeks to expand its presence in the financial market.
Inventurus Knowledge Solutions has set a price band of Rs 1,265-1,329 per share for its IPO, with anchor investor bidding starting on December 11. The allotment will be finalized by December 15, and the stock is expected to list on exchanges on December 19. This IPO is a pure offer-for-sale, with existing promoters and shareholders selling shares worth up to Rs 2,497 crore, leading to a projected market capitalization of approximately Rs 22,802 crore at the upper price band.
Vishal Mega Mart has set its IPO price band at Rs 74-78 per share for a total offering of Rs 8,000 crore, open for subscription from December 11-13, with anchor bidding starting on December 10. The basis of share allotment will be finalized on December 16, with refunds and share credits on December 17, leading to a stock listing on December 18. The IPO is a pure offer for sale by promoter Samayat Services LLP, which holds a 96.46% stake, and at the upper price band, the company's market capitalization will be around Rs 36,120 crore.
ICICI Securities has maintained a BUY rating for Bajaj Finance, setting a target price of Rs 8,500. The company has ended its eight-year co-branded credit card partnership with RBL, citing a strategy to diversify fee income and reduce reliance on credit card fees, with minimal impact on profitability expected.
Bharti Airtel shares surged nearly 6% on November 29, becoming the top gainer on the Nifty 50, following an upgrade to 'Buy' by ICICI Securities, which set a target price of Rs 1,875. The stock has risen 62% year-to-date, significantly outperforming the Nifty 50's 10% increase. This recovery contrasts sharply with its previous derating phase from FY11 to FY20, marked by challenges such as the entry of Reliance Jio and costly acquisitions.
Logistics startup Shadowfax has appointed JM Financial, Morgan Stanley, and ICICI Securities as lead bankers for its anticipated IPO, set for the second half of 2025. The offering is expected to raise around Rs 2,500 crore (approximately $295 million), with a potential range of Rs 2,000 crore to Rs 3,000 crore depending on market response. Following a recent Rs 400 crore funding round, Shadowfax is valued at Rs 6,000 crore ($705 million) and aims for a premium valuation at its public debut.
Small-cap stocks excelled on November 19, achieving a remarkable 7:1 advance-decline ratio, while mid-caps lagged with a 5:1 ratio. Both BSE Mid-cap and Small-cap indices rose 1.8%, but small-caps outperformed significantly, with 808 of 946 stocks gaining. Despite this rally, small- and mid-cap indices have faced greater declines since late September compared to frontline stocks, with significant FII selling concentrated in large-caps.
Boat has appointed ICICI Securities, Goldman Sachs, and Nomura as bankers for its upcoming $300-500 million IPO, aiming for a valuation above $1.5 billion. Despite a 5% revenue dip to Rs 3,285 crore for FY24, the company halved its losses to Rs 70.8 crore and reported positive EBITDA, benefiting from a sales boost during the Diwali season. Founded in 2015, Boat holds a 26.7% market share in India's wearables segment.
Niva Bupa Health Insurance's IPO will open for subscriptions from November 7 to November 11, 2024, with a proposed listing on November 14, 2024. The ₹2,200 crore offering includes an offer to sell 18.92 crore shares and a new issue of 10.81 crore shares, priced between ₹70 and ₹74 each. Key risks include managing underwriting risks and accurately estimating medical expenses, while the grey market premium currently stands at Nil.
Ajit Dayal, founder of Quantum Asset Management Company, is striving to revitalize the mutual fund house, which has slipped from its promising start in 2006 to 37th place among 43 fund houses. In a bid to protect investor interests, he is challenging ICICI Bank over the delisting of ICICI Securities, while also focusing on expanding the investor base.
ICICI Securities Limited
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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