<ul><li>Shares of Bikaji Foods listed at ₹321.15 against the allotment price of ₹300 per share.</li><li>The IPO was subscribed 26.67 times, with good interest from institutional buyers.</li><li>The market capitalisation of the company stood at ₹8,013 crore.</li></ul>Shares of Bikaji Foods International closed at ₹317.45 on the day of its market debut with nearly 6% gains, on Wednesday. The stock listed at a 7% premium over its allotment price. The stock listed at ₹321.15 moving up ₹21.15 from its allotment price of ₹300 per share. This was slightly lower than the grey market’s expectations, which predicted a gain of ₹25-30 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The market capitalization of the company stood at ₹8,013 crore, according to BSE. The IPO was subscribed a whopping 26.67 times amidst volatile market conditions. Demand for the IPO was huge amongst qualified institutional investors who subscribed 80.63 times the IPO offer. Meanwhile, the retail portion of the IPO saw a subscription of 4.77 times. Analysts were of the opinion that investors must book listing gains considering falling margins and expensive valuation. “The issue had received a good response from investors on both the institutional as well as retail side, and the current GMP is 30 i.e. ~ 10% over its issue price. Nevertheless, the company's margins are on the declining side and a P/E valuation of 95.2 looks expensive. Therefore, we advise investors to lock in listing gains, and only aggressive investors should consider making a long-term commitment to the company,” said Pravesh Gour, senior technical analyst at Swastika Investmart. So far, 26 IPOs made their stock market debut this year on the BSE mainboard. Most of them gave positive listing gains, except seven issues. Here are the top five IPOs with highest listing gains in 2022. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;" class="redcator-table-advance"></colgroup><tbody><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Companies </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Highest listing gains per share </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Harsha Engineers International </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹155.9 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Dreamfolks Services </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹136.65 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Aether Industries </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹134.75 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">DCX Systems </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹101.80 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Syrma SGS Technology </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹93.05 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE Competing with Haldirams and Balaji Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as gift packs (assortments), frozen food, mathri range and cookies. The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders. Bikaji Foods International is the third largest player in the Indian branded ethnic snack industry with 9% market share after Haldiram and Balaji. Some key competitors of the FMCG brand include Haldiram Foods International, Bikanerwala, Prataap Snacks, Balaji Wafers Private, ITC, Pepsico India Holdings and DFM Foods. In FY22, Bikaji Foods’ profit came down by 15.5% to ₹76 crore from ₹90 crore in FY21 due to raw material inflation. Meanwhile, its revenue rose to ₹1,610 crore in FY22 from ₹1,310 crore from the previous year. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;" class="redcator-table-advance"></colgroup><tbody><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Bikaji Foods </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Revenue </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Profit </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY22 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹1,610 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹76 crore </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY21 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹1,310 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹90 crore </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY20 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹1,074 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹56 crore </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY19 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹901 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹50 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: DRHP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/whenever-small-caps-trade-at-a-discount-to-nifty-they-have-given-outsized-returns-incred-wealth/articleshow/95536784.cms">Whenever small caps trade at a discount to Nifty, they have given outsized returns: InCred Wealth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/archean-chemical-industries-ipo-how-you-can-check-the-allotment-status/articleshow/95533940.cms">Archean Chemical Industries IPO: Here’s how you can check the allotment status</a>

Bikaji Foods lists at a 7% premium in line with grey market expectations

<ul><li>Shares of Five Star Business Finance listed at ₹449.9 against the allotment price of ₹450 per share.</li><li>The IPO received poor demand from investors amidst volatile market conditions, as only 70% of the issue was subscribed.</li><li>The market capitalisation of the company stood at ₹13,110 crore.</li></ul>Shares of NBFC Five Star Business Finance listed at ₹449.95 on Monday, as against the issue price of ₹450 per share. The stock listed at a 5% discount over the allotment price. Sensex fell by 463 points, and Nifty declined 129 points, tracking weak cues from the Asian markets, as <a href="https://www.businessinsider.in/stock-market/news/indian-markets-open-in-the-red-tracking-covid-19-concerns-in-asian-markets-tata-steel-tata-motors-zomato-and-others-in-focus/articleshow/95649915.cms">investors fret over rising</a> Covid-19 cases in China. The market capitalization of the company stood at ₹13,110 crore, according to BSE. Five Star Business Finance’s listing however is in line with the grey market’s expectations. It had predicted a discounted listing, after the issue failed to receive a full subscription from investors. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The IPO received poor demand from investors amidst volatile market conditions as they were not fully subscribed. The issue was subscribed just 0.70 times. The qualified institutional buyer portion was subscribed 1.77 times. The portion reserved for non-institutional investors witnessed a subscription of 0.61 times. Retail portion saw poor demand as it had a subscription of just 0.11 times. The Chennai-based lender, which provides loans to micro-entrepreneurs, had planned to raise ₹1,960 crore but was subscribed only 70% on the last day. The company will not receive any funds raised from the IPO as all the shares are being sold by promoters. This year, 26 IPOs made their stock market debut on the BSE mainboard. Most of them gave positive listing gains, except seven issues. Here are the top five IPOs with highest listing gains in 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest listing gains per share </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Harsha Engineers International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹155.9 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dreamfolks Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹136.65 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aether Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹134.75 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DCX Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹101.80 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Syrma SGS Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹93.05 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE The company’s finances Tamil Nadu, Karnataka, Andhra Pradesh and Telangana account for 85% of its overall portfolio. The company plans to deepen its presence in existing geographies through increasing the number of field officers and setting up new branches. The NBFC’s total income grew 19.5% from a year earlier to ₹1,254 crore in FY22, while its net profit grew 26.5% to ₹453 crore. The non-banking lender’s total borrowings have fallen to ₹2,558 crore in FY22 from ₹3,425 crore in FY21. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,254 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹453 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,049 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹358 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹786 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹261 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Some of the peer companies of Five Star Business Finance are AU Small Finance Bank, Aavas Financiers, and Aptus Value Housing Finance India. It also competes with unlisted companies like Lendingkart Technologies and Digikredit Finance. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Peer companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Income in FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Five-Star Business Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,254 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aavas Financiers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,305 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-26% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aptus Value Housing Finance India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹840 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Au Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,915 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>(Source: Red Herring Prospectus) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/archean-chemical-industries-lists-at-10-premium-amid-falling-markets/articleshow/95650838.cms">Archean Chemical Industries lists at 10% premium amid falling markets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/real-estate-investors-may-be-turning-to-india-following-a-continued-slump-in-chinas-property-market-says-a-report/articleshow/95649758.cms">Real estate investors may be turning to India following a continued slump in China's property market, says a report</a>

Five Star Business Finance lists at 5% discount in line with grey market expectations

<ul><li>The IPO of the private sector bank has been subscribed 1.53 times so far in the first two days.</li><li>The private sector bank plans to raise ₹832 crore through a fresh issue of 1.58 crore shares.</li><li>The lender has fixed the price band at ₹500-525 per share.</li><li>The grey market premium of the company’s shares have come down to ₹15 from ₹35 earlier.</li></ul>The initial public offering of Thoothukudi-based Tamilnad Mercantile Bank has been subscribed 1.53 times on the second day The IPO has received good demand from retail investors as this portion was subscribed by 3.61 times. The private sector bank is planning to raise ₹832 crore through a fresh issue of 1.58 crore shares. The lender has fixed the price band at ₹500-525 per share. The proceeds from the IPO will be used to augment tier-I capital base to meet future capital requirements. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.98 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.27 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.61 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.53 times </td></tr></tbody><tbody></tbody></table>As of March 31, 2022, the lender has 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres. Its advances portfolio primarily consists of retail customers, agricultural customers and MSMEs. The bank has built a strong network of customers in the state of Tamil Nadu. As of March 31, 2022 Tamil Nadu contributed to 75% of its deposits and advances. The bank is one of the oldest sector banks in India with a history of almost 100 years. It was initially formed as Nadar Bank on May 11, 1921 and its name was changed to Tamilnad Mercantile Bank in 1962. The grey market premium of the company’s shares have come down to ₹15 from ₹35 earlier. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The IPO opened on September 5, and will close on September 7. Analysts have recommended subscribing to the IPO following the bank’s consistent performance over the years. “TMB is demanding a slightly higher valuation when compared to its peers given that TMB is outperforming its peers in the majority of financial parameters. Given the consistency in its performance over past periods and healthy return ratio, we recommend a Subscribe-Long Term,” said a report by Anand Rathi. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-beats-grey-market-expectations-lists-at-a-55-premium/articleshow/94017839.cms">DreamFolks Services stock slips 8% from its listing price</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/moodys-retains-indias-credit-rating-at-baa3-stable-says-the-economy-is-diversified-with-high-growth-potential/articleshow/94029919.cms">Moody’s retains India’s credit rating at ‘Baa3 stable’, says the economy is ‘diversified with high growth potential’</a>

Tamilnad Mercantile Bank IPO is subscribed 1.53% on day 2, grey market premiums fall

Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve

Indias urban unemployment rate improved remarkably in the April-June quarter, revealed the <keyword id="7734679" type="General" weightage="50" keywordseo="national-statistical-office" source="Orion">National Statistical Office</keyword>. It dipped to 7.6 per cent during the April-June quarter from 12.6 per cent during the corresponding quarter a year ago. It is a clear indication that the country's economy is coming out the grip of Covid-induced slowdown. India's urban unemployment rate improved across genders and age groups to its best-ever level in the quarter ending June 2022.India's headline urban unemployment rate was 7.6 per cent in the quarter ending June, compared to 8.2 per cent in the quarter ending March, 12.7 per cent in the June quarter of 2021-22, and 8.9 per cent in the June quarter of 2019-20. Joblessness was high in April-June 2021 mainly due to the staggering impact of Covid-related restrictions in the country. The 15th <keyword id="3429286" type="General" weightage="50" keywordseo="periodic-labour-force-survey" source="Orion">Periodic Labour Force Survey</keyword> (<keyword id="1697741" type="General" weightage="80" keywordseo="plfs" source="Orion">PLFS</keyword>) showed that the unemployment rate among females (aged 15 years and above) in urban areas declined to 9.5 per cent in April-June, 2022 from 14.3 per cent a year ago. It was 10.1 per cent in January-March, 2022.Among males, the unemployment rate in urban areas dipped to 7.1 per cent in April-June 2022 compared to 12.2 per cent a year ago. It was 7.7 per cent in January-March 2022. Since some kinds of jobs, like those in agriculture, are seasonal in nature, unemployment rate comparisons are best made for the same quarter across years. However, the remarkable improvement in this rate can be seen from the fact that it is the lowest rate since the quarter ending June 2018, the first quarter for which the quarterly bulletins have data, revealed media reports. That the improvement in unemployment rate was not lopsided can be seen from the fact that it improved across groups. The quarterly bulletin gives a breakup of unemployment rate by gender and by three age groups: all ages, 15-29 years, and 15 years and above. Unemployment rates for all these groups was the best in the quarter ending June, media reports said. Similarly, at 37.2 per cent, the labour force participation rate (<keyword id="4279410" type="General" weightage="80" keywordseo="lfpr" source="Orion">LFPR</keyword>) - or the share of population working or seeking work - in the first quarter of the current financial year was the highest for this quarter for any year since 2018-19 and 10 basis points (100th of a percentage point) higher than in the first quarter of last year. While LFPR was not at its best level in the quarterly bulletin's history like the unemployment rate, it is enough for it to be best for the June quarter because of the seasonality factor. The broad industry-wise breakup of workers further showed that employment prospects also improved. The share of workers in agriculture, secondary sector (which includes sectors like manufacturing and mining), and tertiary sector (comprises services) was 5.7 per cent, 34 per cent and 60.3 per cent, respectively. The share in agriculture is an improvement over the June quarters of FY 2021-22 and FY 2020-21, both affected by lockdowns, but not over FY 2019-20, when only 4.9 per cent were in agriculture. The share in tertiary sector was similarly a higher 62 per cent in FY 2019-20, a clear sign that though people are seeking and finding jobs with the pandemic under control, they may not be earning as much as they did before the pandemic. These signs will be confirmed or rejected when the unit-level data becomes available, the report stated. Labour force refers to the part of the population which supplies or offers to supply labour for pursuing economic activities for the production of goods and services and, therefore, includes both employed and unemployed persons. The NSO launched PLFS in April 2017. On the basis of PLFS, a quarterly bulletin is brought out giving estimates of labour force indicators namely unemployment rate, worker population ratio (<keyword id="1966243" type="General" weightage="50" keywordseo="wpr" source="Orion">WPR</keyword>), labour force participation rate (LFPR), distribution of workers by broad status in employment and industry of work in Current Weekly Status. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/gromo-raises-11-million-plans-to-double-headcount-in-6-12-months/articleshow/94031705.cms">GroMo raises $11 million, plans to double headcount in 6-12 months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-beats-grey-market-expectations-lists-at-a-55-premium/articleshow/94017839.cms">DreamFolks Services stock slips 8% from its listing price</a>

India's urban unemployment rate dips to 7.6% in the April-June quarter

The income tax department has sought to prosecute <keyword id="54268" type="General" weightage="50" keywordseo="reliance-group" source="Orion">Reliance Group</keyword> Chairman <keyword id="9171" type="General" weightage="50" keywordseo="anil-ambani" source="Orion">Anil Ambani</keyword> under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts. The department has charged <keyword id="10924" type="General" weightage="100" keywordseo="ambani" source="Orion">Ambani</keyword>, 63, with "wilful" evasion, saying he "intentionally" did not disclose his foreign bank account details and financial interests to Indian tax authorities.A show cause notice in this context was issued to Ambani early this month. The department said he was liable to be prosecuted under Sections 50 and 51 of the Black Money (undisclosed foreign income and assets) Imposition of Tax Act of 2015 that stipulates a maximum punishment of 10 years imprisonment with a fine.It has sought his response to the charges by August 31.Ambani's office had not responded to a query sent on the matter till the time of this story being filed. The businessman has been charged with evading tax, by way of holding undisclosed assets abroad, for the assessment years 2012-13 to 2019-20.According to the notice, a copy of which was accessed by PTI, tax officials found that Ambani was an "economic contributor as well as beneficial owner" of a Bahamas-based entity called '<keyword id="14796281" type="General" weightage="50" keywordseo="diamond-trust" source="Orion">Diamond Trust</keyword>' and another company called Northern Atlantic Trading Unlimited (NATU) which was incorporated in the British Virgin Islands (BVI). In the case of the Bahamas trust, the department found it had a company called Dreamwork Holdings Inc. This firm was the owner of a Swiss bank account, which had a peak balance of USD 32,095,600 (USD 3.2 crore) as on December 31, 2007.The notice said the trust got initial funding of USD 25,040,422 (USD 2.5 crore). The department alleged that the "source of funding" for this was from Ambani's "personal account". It found that Ambani gave his passport as the KYC document for the opening of this trust in 2006. The beneficiaries of this trust were his family members too.The BVI company, incorporated in July 2010, has an account in Bank of Cyprus, Zurich. The department claimed Ambani was the "ultimate beneficial owner" of this company and the funds that it has.The company is also alleged to have received USD 10 crore in 2012 from a Bahamas registered entity called PUSA, whose "settlor and beneficial owner" is stated to be Ambani, as per the department. "From the evidence available, it is obvious that you are the economic contributor as well as beneficial owner of the foreign trust Diamond Trust, the bank account of underlying company <keyword id="14796280" type="General" weightage="50" keywordseo="dreamworks-holding-inc" source="Orion">Dreamworks Holding Inc</keyword>, settlor and beneficial owner of NATU and PUSA. Therefore, the funds/assets available with the above entities belong to you," the department said. The department alleged that Ambani "failed to disclose" these foreign assets in his income tax return (ITR) filings and hence contravened the provisions of the Black Money Act, brought by the Modi government soon after it was first elected to power in 2014. Tax officials said such "omission was not bona fide in nature and is intentional". "Thus, you have wilfully attempted to evade tax, penalty or interest chargeable or imposable under this Act (Black Money) on the undisclosed foreign asset....since you have wilfully attempted to evade tax you are liable to be prosecuted under section 51 of the Black Money Act, 2015," the order said.The total value of the undisclosed funds in the two accounts has been assessed by tax officials at Rs 8,14,27,95,784 (Rs 814 crore) and tax payable on this amount at Rs 4,20,29,04,040 (Rs 420 crore). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-ipo-opens-today-check-out-important-details-related-to-the-ipo/articleshow/93740178.cms">DreamFolks Services IPO opens today — Check out important details related to the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/10000-investment-in-gensol-engineering-ev-stock-gave-2-77-lakh-return-in-a-year/articleshow/93740070.cms">This EV firm rose 2600% in a year: ₹10,000 invested in this stock a year ago is worth ₹2.77 lakh</a>

You Searched For "Dreamfolks Services stocks" and got 7 results

Bikaji Foods lists at a 7% premium in line with grey market expectations

Bhakti Makwana

Five Star Business Finance lists at 5% discount in line with grey market expectations

Bhakti Makwana

Tamilnad Mercantile Bank IPO is subscribed 1.53% on day 2, grey market premiums fall

Bhakti Makwana

Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve

Bhakti Makwana

India's urban unemployment rate dips to 7.6% in the April-June quarter

IANS

IT dept seeks to prosecute Anil Ambani for holding secret funds in Swiss accounts

PTI

IPOs in FY23 have been fewer but many have fared better than the previous year

Rounak Jain