Companies raised over Rs 52,000 crore through mainboard IPOs in 2023, demonstrating resilience amidst global volatility driven by rising interest rates and geopolitical risks.
However, the number of issues rose, marking a dynamic trend. Despite this, experts maintain a strong bullish outlook on the IPO market for 2024. Excluding LIC’s blockbuster maiden public issue of Rs 20,557 crore in 2022, the collection from initial public offerings (IPOs) increased by an impressive 36% this year.
2023 has unequivocally been the year of initial public offerings, witnessing 173 small and medium-sized enterprises (SMEs) and 52 mainboard listings. The market has seen outstanding debuts and subscriptions.
Meet the daughter of Hyderabad’s richest man, who helps run her family’s Rs 8,049 crore company and recently purchased two lavish properties for Rs 80 crore Dr. Lal Pathlabs redesignates Ved Prakash as Group CFO and CEO – International Business Foreign investors pull out over Rs 13,400 crore from Indian equities in first week of August KFC-operator Devyani International posts Q1 profit rise of 156% YoY, says on track to meet 2000 store target in FY25
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Reflecting the buoyancy of the Indian stock markets. Despite expectations of significant volatility in the upcoming year, experts believe that the primary market will continue to gain momentum.
“The year 2023 has been a landmark year for the Indian IPO market, with as many as 50 companies going public and collectively raising over Rs 65,000 crore. This IPO frenzy not only reflects the buoyancy of the Indian stock markets but also the growing appetite among companies to tap into public markets for capital,” said Sonam Srivastava, Founder and Fund Manager at Wright Research.
Looking ahead, around 24 companies, already cleared by the markets regulator Sebi, are set to raise over Rs 26,000 crore. Additionally, 32 more companies have filed their draft papers with Sebi and are awaiting clearances to mobilize more than Rs 35,000 crore, as per data provided by Prime Database.
The attention to fundamentals appears to be paying off, with only seven out of the 50 companies listed in 2023 opening at a discount, compared to 14 companies in 2022. The average gain on the listing day of stocks that debuted in 2023 stood at 29.5%, a significant improvement from 10.72% in 2022, according to Prime Database.
Shares of Tata Technologies, IdeaForge, and Utkarsh Small Finance Bank more than doubled or nearly doubled on the listing day itself, signaling positive days ahead for the IPO market in 2024.
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Several companies, including Oyo, Ola, and Go Digit, are expected to enter the market in 2024 after previously postponing their plans. Last year, in an interaction with DealStreetAsia, Gupshup Chief Executive Officer Beerud Sheth said the company would be looking to go public in the next calendar year, waiting for better market conditions.
According to Srivastava, the diversity of companies listing on the stock exchanges, ranging from tech startups to traditional businesses, indicates a broad-based interest in equity financing. However, this surge in IPOs also calls for cautious optimism among investors.
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Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in positive territory after hitting a fresh lifetime high of 22,440.90 on March 04. The NSE Nifty 50 closed 27.20 points or 0.12% higher to settle at 22,405.60, while the BSE Sensex gained 66.14 points or 0.09% to settle at 73,872.29. The broader indices closed in the green, with gains led by largecap and midcap stocks. The Bank Nifty gained 158.60 points or 0.34% to settle at 47,456.10.Come from Sports betting site VPbet
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Foreign institutional investors (FII) purchased shares worth net Rs 550.19 crore, while domestic institutional investors (DII) added shares worth net Rs 609.82 crore on November 15, 2023, according to the provisional data available on the NSE.
For the month till November 15, 2023, FIIs sold shares worth net Rs 7,054.08 crore while DIIs bought shares worth net Rs 7,562.29 crore. In the month of October, FIIs offloaded shares worth net Rs 29,056.61 crore while DIIs added equities worth a net Rs 25,105.86 crore.
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“Domestic equities surged higher fuelled by moderation in both India as well as US inflation. Nifty opened gap up and strengthen during the day to close n…
The original adaptation of James O’Barr’s comic book, The Crow, came out 30 years ago, and the franchise is more famous for the tragic accident that took Brandon Lee’s life than anything else. Regardless, The Crow movie from 1994 does have a cult following and it was largely true to the source material. That’s more than we can say for the new version of The Crow, which features Bill Skarsgård as the title character, Eric Draven. Lionsgate held back the reviews as long as possible, but it doesn’t seem to have helped The Crow’s chances. And one-by-one, critics have lined up to take shots at it.
As of this writing, The Crow has an 19% score on Rotten Tomatoes (based on 54 reviews) and a Metacritic score of 31 (based on 22 reviews). Not every critic hated it, but very few h…
Actor Giancarlo Esposito (The Mandalorian, Breaking Bad) has shared with local news outlets in Raleigh, North Carolina during GalaxyCon Raleigh that Season 3 of The Mandalorian will begin shooting soon. WRAL spoke briefly with Esposito who was otherwise tight-lipped on details.Come from Sports betting site VPbet
“They finished shooting Boba Fett and soon they will start on Season 3 [of The Mandalorian],” said Esposito. Acknowledging that Mandalorian star Pedro Pascal is currently in Canada filming the HBO show The Last of Us, Esposito added that because Pascal’s character is always wearing a helmet, “We never have to wait on Pedro.”
But with The Mandalorian removing his helmet at the end of Seas…
California Governor Gavin Newsom announced Tuesday that he signed tribal-state gaming compacts with six of the states federally recognized Indian tribes, among them, the Picayune Rancheria of Chukchansi Indians. Signed August 10, 2021, after several years of negotiations, the agreement with the Tribe whose rancheria is located in Madera County, will enable the expansion of its Chukchansi Gold Resort & Casino in Coarsegold and protect employees and casino patrons, according to a source.
The 25-year compact (pdf) authorizes Class III gaming with up to 3,500 gaming devices at up to two gaming facilities on the Tribe’s land held in trust. However, if the tribe operates more than 3,000 gaming devices in a year, it will pay $500,000 to the Special Distribution Fund in addition…
The sports betting strategies world is always changing. For those looking to improve, combining advanced tactics and a strong desire to learn is key. As sports betting grows, getting to know the details can lift your game to new heights. This guide will explore deep techniques to give you the upper hand in betting.
Embracing the Betting Landscape
As the sun comes up, so does the excitement for sports betting. The market is always changing, so we need to keep an eye on it. The betting odds show wh…
Legislators in the American state of Hawaii may soon reportedly be presented with the chance to legalize commercial gambling via a measure that could see a new integrated casino resort developed for the small Oahu city of Kapolei.
According to a Wednesday report from Pacific Business News, the western state’s Department of Hawaiian Home Lands recently announced that it intends to ask the nine-member Hawaiian Homes Commission to support its plan to bring a gambling-friendly property to Honolulu County. The source detailed that this latter body currently holds the desired development site in trust so as to make its approval necessary before any such proposition goes before state lawmakers.
Present proscription:
Hawaii is one of only two …
Unlike gambling, which is thought to be older than the written word, dating back as far as 3000 BC, online gambling, or iGaming, didn’t appear until the 1990s, around the same time as the internet was taking off commercially. Today, sites dedicated to online gambling can be found in more than 85 countries around the world. These range from online casinos and sportsbooks to casino review portals such as kiwigambler, which aims to help its visitors choose the best New Zealand online casinos available today.
Fast Fact – currently, the Gambling Act of 2003 prohibits remote interactive gambling in the island country in the southwestern Pacific Ocean, however, it does not prohibit gambling conducted overseas. This means that someone in the country coul…
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