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<ul><li>Shares of <keyword id="12561346" type="General" weightage="20" keywordseo="Elin-Electronics" source="Orion">Elin Electronics</keyword> listed at ₹243 against the issue price of ₹247 per share.</li><li>The IPO was subscribed 3.09 times amidst volatile market conditions.</li><li>The market capitalisation of the company stood at ₹1,206 crore. </li></ul>Shares of Electronics manufacturing services company <a href="https://www.businessinsider.in/stock-market/news/elin-electronics-to-open-its-ipo-next-week-on-dec-20-gmp-at-30-apiece/articleshow/96278346.cms">Elin Electronics </a>made its stock market debut at a 1.62% discount at ₹243 as against the issue price of ₹247 per share. The stock managed to shrug off positive opening of Indian benchmark indices and listed at a discount of ₹4 per share. The 30-stock index Sensex was up 0.41% at 61,383 on opening, while the 50-stock index Nifty50 was 0.3% higher at 18,245. The market capitalisation of Elin Electronics currently stands at ₹1,206 crore, according to BSE data. The weak listing is contrary to grey market expectations which hoped for a ₹4 premium per share. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The Elin Electronics IPO had received good demand from investors amidst volatile market conditions, as it was subscribed 3.09 times. The IPO also received good demand from qualified institutional investors who subscribed 4.51 times, non-institutional investors subscribed 3.29 times. The portion reserved for retail investors has been subscribed 2.2 times. This year, 37 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 best performing IPOs in 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">YTD Change </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">131% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Venus Pipes &amp; Tubes </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">100% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hariom Pipe Industries </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">55% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Veranda Learning Solutions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">82% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">42% </td></tr></tbody></table>(Source: BSE) Elin Electronics raised ₹475 crore from the public offer. Out of this, ₹175 crore worth shares are fresh issue, and ₹300 crore is via an offer for sale by promoters and shareholders. The proceeds from the fresh issue will be used to repay debt, fund capital expenditure to upgrade and expand existing plants. Elin Electronics is a manufacturer of end-to-end product solutions for major brands of lighting, fans, and small kitchen appliances in India. It is also one of the largest fractional horsepower motor manufacturers in India. It also manufactures and assembles a wide array of products and provides end-to-end product solutions. The company has three manufacturing facilities located in Ghaziabad (Uttar Pradesh), Baddi (Himachal Pradesh) and Verna (Goa). Its revenue and profitability has consistently improved in the last three financial years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">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><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;">EBITDA margin </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;">₹1,093 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;">₹39.1 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;">7.31% </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;">₹862 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;">₹34.5 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;">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;">₹785 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;">₹27.5 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;">7.16% </td></tr></tbody></table>Source: RHP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-man-of-the-year/articleshow/96610248.cms">Gautam Adani: Man of the year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/travel/news/2023-to-be-the-year-of-the-savvy-traveler-as-economic-uncertainties-force-people-to-become-thriftier/articleshow/96595955.cms">2023 to be the year of the savvy traveler as economic uncertainties force people to become thriftier</a>

Elin Electronics lists at a 1.62% discount on the bourses

<ul><li><keyword id="12561347" type="General" weightage="20" keywordseo="Elin-Electronics-IPO" source="Orion">Elin Electronics IPO</keyword> will open next week on December 20 and close on December 22.</li><li>The price band of the IPO is set at ₹234 - ₹247 per share.</li><li>The company plans to raise ₹475 crore out of which ₹175 crore worth shares will be via a fresh issue and ₹300 crore via an offer for sale by promoters and other shareholders.</li><li>The proceeds from the fresh issue will be used to repay debt, fund capital expenditure for upgradation and expanding existing plants.</li></ul>Electronics manufacturing services company Elin Electronics will open its initial public offering (IPO) next week on December 20 and close on December 22. The price band of the IPO is set at ₹234-247 per share. The company plans to raise ₹475 crore. Of this, ₹175 crore worth shares will be raised via a fresh issue, and ₹300 crore via an offer for sale by promoters and shareholders. The proceeds from the fresh issue will be used to repay debt, fund capital expenditure for upgradation and expanding existing plants. The shares of the company are currently commanding a grey market premium, or GMP, of ₹30 per share. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The company is a manufacturer of end-to-end product solutions for major brands of lighting, fans, and small kitchen appliances in India. It is also one of the largest fractional horsepower motor manufacturers in India. Also, it manufactures and assembles a wide array of products and provides end-to-end product solutions. The company has three manufacturing facilities located in Ghaziabad (Uttar Pradesh), Baddi (Himachal Pradesh) and Verna (Goa). Its key diversified product portfolio in electronics manufacturing services includes – LED lighting, fans and switches including lighting products, small kitchen appliances, fractional horsepower motors, other miscellaneous products such as terminal block for air conditioners, stainless steel blade for mixer grinders, die casting, radio sets etc. Eveready, Havells, Bosch, Panasonic and Usha are some of its key customers. It has a centralized research &amp; development (R&amp;D) centre in Ghaziabad recognised by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India (DSIR) since 1992. While the company caters to 297 customers as on October 31, 2022, 77% of its revenues came from top 10 customers in 2022. There is one criminal proceeding against the company, 23 tax proceedings and three statutory or regulatory proceedings. The company’s revenue and profitability has consistently improved in the last three financial years. <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;">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><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;">EBITDA margin </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;">₹1,093 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;">₹39.1 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;">7.31% </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;">₹862 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;">₹34.5 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;">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;">₹785 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;">₹27.5 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;">7.16% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: RHP Along with this public offer, <a href="https://www.businessinsider.in/stock-market/news/kfin-technologies-to-open-its-ipo-next-week-from-dec-19-21/articleshow/96220635.cms">KFin Technologies</a>, a leading technology-driven financial services platform, is also opening its IPO next week on December 19. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ice-cubes-to-gulab-jamuns-and-50-lakh-kilos-of-organic-fruits-and-veggies-how-india-swiggyd-in-2022/articleshow/96275305.cms">Ice cubes to gulab jamuns and 50 lakh kilos of organic fruits and veggies – how India Swiggy’d in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/droneacharya-ai-ipo-subscription-status/articleshow/96203527.cms">DroneAcharya IPO subscribed 262x on last day as HNIs, retail investors lap up</a>

Elin Electronics to open its IPO next week on Dec 20; GMP at ₹30 apiece

<ul><li><keyword id="8400834" type="General" weightage="20" keywordseo="KFin-Technologies" source="Orion">KFin Technologies</keyword> and <keyword id="12561346" type="General" weightage="20" keywordseo="Elin-Electronics" source="Orion">Elin Electronics</keyword> will launch their issues this week.</li><li>The two initial public offerings (IPOs) are expected to collectively raise nearly ₹2,000 crore.</li><li>So far this year, ₹55,101 crore has been raised through 32 IPOs (as of December 6 — still it’s lesser than the ₹1.18 lakh crore raised through 64 IPOs in 2021.</li></ul>Indian primary markets are buzzing with initial public offerings (IPOs) while secondary markets across the world are turning volatile over fears of recession. Last week, <a href="https://www.businessinsider.in/stock-market/news/three-ipos-set-to-raise-over-1800-crore-this-week/articleshow/96160133.cms">three IPOs opened </a>their issues for investor subscription and raised over ₹1,800 crore. All three IPOs were fully subscribed. They received decent demand from investors -- winemaker Sula Vineyards was subscribed by 2.33 times on the last day, financial services company Abans Holdings by 1.1 times and automobile dealer Landmark Cars by 3.06 times. At the same time, the IPO of <a href="https://www.businessinsider.in/stock-market/news/droneacharya-ai-ipo-subscription-status/articleshow/96203527.cms">DroneAcharya Aerial Innovations </a>received an overwhelming investor interest, and was subscribed 262 times on its last day. The Pune-based drone startup’s IPO received strong demand from HNIs as well as retail investors, who subscribed for it 388 times and 330 times respectively. This week, two (IPOs) are expected to collectively raise nearly ₹2,000 crore. <a href="https://www.businessinsider.in/stock-market/news/kfin-technologies-to-open-its-ipo-next-week-from-dec-19-21/articleshow/96220635.cms">KFin Technologies</a>, a leading technology-driven financial services platform and electronics manufacturing services company Elin Electronics will open their issues for public subscription this week. So far this year, ₹55,101 crore has been raised through 32 IPOs (as of December 6). But it's still much less than the ₹1.18 lakh crore raised through 64 IPOs in 2021, shows data from Prime Database. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPOs opening this week </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Start date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO size </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KFin Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,500 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Elin Electronics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 22 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹475 crore </td></tr></tbody></table> <keyword id="15781375" type="General" weightage="20" keywordseo="KFin-Technologies-IPO" source="Orion">KFin Technologies IPO</keyword> to raise ₹1,500 crore KFin Technologies, a leading technology-driven financial services platform, will open its initial public offering (IPO) this week on December 19 and close on December 21. The price band of the IPO is set at ₹347- 366 per share. The company plans to raise ₹1,500 crore through a complete offer for sale by one of the promoters General Atlantic Singapore Fund — who will receive all the proceeds. The company will not receive any funds from the IPO. The shares of the company are currently commanding a grey market premium, or GMP, of just ₹5 per share. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. KFin Technologies provides transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines and Hong Kong. It provides services and solutions to asset managers and corporate issuers across asset classes in India, along with several other investor solutions. The company is the largest investor solutions provider to Indian mutual funds. It provides services to 24 out of 41 AMCs in India, representing 59% of market share. General Atlantic Singapore Fund Pte owns a 72.51% stake in the company followed by Kotak Mahindra Bank with 9.86% stake while Compar Estates and Agencies holds a 10.86% stake in KFin Technologies. However, Kotak and Compar are not selling their shares in the upcoming IPO. <keyword id="12561347" type="General" weightage="20" keywordseo="Elin-Electronics-IPO" source="Orion">Elin Electronics IPO</keyword> to open on December 20 Electronics manufacturing services company Elin Electronics will open its initial public offering (IPO) this week on December 20 and close on December 22. The price band of the IPO is set at ₹234-247 per share. The company plans to raise ₹475 crore. Of this, ₹175 crore worth shares will be raised via a fresh issue, and ₹300 crore via an offer for sale by promoters and shareholders. The proceeds from the fresh issue will be used to repay debt, fund capital expenditure for upgradation and expanding existing plants. The shares of the company are currently commanding a grey market premium, or GMP, of ₹30 per share. The company is a manufacturer of end-to-end product solutions for major brands of lighting, fans, and small kitchen appliances in India. It is also one of the largest fractional horsepower motor manufacturers in India. Also, it manufactures and assembles a wide array of products and provides end-to-end product solutions. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/i-am-glad-i-fd-up-so-much-in-life-that-it-is-content-now-says-ankur-warikoo/articleshow/96282722.cms">I am glad I F**%*D up so much in life that it is content now says Ankur Warikoo</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/upcoming-web-series-on-amazon-prime-netflix-hotstar-sonyliv-in-2023-in-india/slidelist/96217782.cms">Made in Heaven, Paatal Lok &amp; all the web series in between hitting the screens in 2023</a>

Two IPOs set to raise nearly ₹2,000 crore this week

<ul><li>The 30-stock index <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 0.48% or 293 points lower at 60,840 while the 50-stock index <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended 0.47% or 85 points lower on Friday.</li><li>FMCG, bank, IT, auto and pharma indices traded in red while PSU bank, media, metal and realty stocks were gainers.</li><li>While Indian markets closed the last day of the year on a weak note, they still managed to outperform their global peers in the US, Europe and the rest of Asia in 2022.</li></ul>India’s benchmark indices Sensex and Nifty50 end last of 2022 on a weak note, dragged down by banking and FMCG stocks despite positive cues from global markets. The 30-stock index Sensex closed 0.48% or 293 points lower at 60,840 while the 50-stock index Nifty50 ended 0.47% or 85 points lower on Friday. FMCG, bank, IT, auto and pharma indices traded in red while PSU bank, media, metal and realty stocks were gainers. In the Nifty50 index, the top gainers had a mix of financial services, oil &amp; gas, auto and consumer goods companies, while the top losers included heavyweights like ICICI Bank, Bharti Airtel, among others. <div type="image" title="daily-profit-loss-20" msid="96623608" hostid="261"></div> Despite the decline in the overall banks index, PSU banks continued to rally, emerging as the top gainer on the bourses on Friday. The index also further cemented its position as the <a href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-sectoral-indices-of-nifty-in-2022/articleshow/96448669.cms">top sectoral performer of 2022</a>, with a gain of 67% this year. <div type="image" title="sectoral-indices-20" msid="96623615" hostid="261"></div> “On the last day of a tumultuous year, domestic indices shed their early gains as negative signals from global peers pushed indices lower. Investors remained concerned over the economic outlook for the new year, underpinned by growing fears of recession. The ongoing volatility is expected to be sustained in the near-term because of high interest rates and a slowing economy,” said Vinod Nair, head of research at Geojit Financial Services. While Indian markets closed the last day of the year on a weak note, they still managed to outperform their global peers in the US, Europe and the rest of Asia in 2022. In fact, Indian markets marked the <a href="https://www.businessinsider.in/stock-market/news/for-2nd-time-after-1988-94-sensex-on-track-for-7th-successive-year-of-gains/articleshow/96599502.cms">seventh successive year </a>of positive gains. <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;">Index </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;">% change </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;">Sensex </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;">2.8% </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;">Nifty50 </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;">2.7% </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;">Dow Jones Industrial Average (US) </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;">-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;">Nasdaq Composite (US) </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;">-33% </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;">S&amp;P 500 (US) </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;">-19% </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;">Shanghai Composite Index (China) </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><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;">Hang Seng Index (Hong Kong) </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><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;">Nikkei 225 (Japan) </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;">-10% </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;">DAX (German) </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;">-12.7% </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;">FTSE 100 Index (UK) </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;">-0.19% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Morningstar, as on December 30, 2022 What to watch out for in 2023, according to analysts “2023 would be a year to watch for 4 Cs – CPI globally – are we seeing a trend reversal or just a lull before the storm, China – will the dominance return and how soon , and Currency – will the USD continue to display its indomitable spirit. An overlay of these factors, coupled with geopolitical events could well mean possibility of convergence (4th C) in returns in equities and fixed income as an asset class,” said Lakshmi Iyer, CEO, Investment Advisory, Kotak Investment Advisors. Earlier on Thursday, markets in the US found comfort in easing jobs data, expecting inflationary pressures to ease going forward. This helped the equity markets snap a two-day losing streak, with the benchmark S&amp;P 500 closing 1.75% up, while the Dow Jones Industrial Average ended 1.05% higher. The tech-heavy Nasdaq saw a boost, too, closing 2.59% in the green, with shares of Tesla jumping over 8% after a spate of declines. Most of the Asian markets were also in the green on Friday, led by the Shanghai Composite index which gained 0.51%, followed by the Taiwan Weighted index which rose 0.85%. The Hang Seng index gained 0.2%, while Nikkei 225 closed flat. Crude oil prices softened for the second straight day on an uncertain demand outlook. Brent crude oil prices hovered around $83 per barrel, with a decline of 0.5%. Rupee closed up on the last day of the year at 82.72, appreciating 8 paise against the US dollar. SEE ALSO: <a href="https://www.businessinsider.in/business/news/gautam-adani-man-of-the-year/articleshow/96610248.cms">Gautam Adani: Man of the year</a> <a href="https://www.businessinsider.in/stock-market/news/shilpa-shetty-kunal-bahl-promoters-to-sell-stake-as-mamaearth-parent-goes-in-for-an-ipo/articleshow/96594970.cms">Shilpa Shetty, Kunal Bahl, promoters to sell stake as Mamaearth parent goes in for an IPO</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-return-to-indian-equities-in-the-second-half-of-2022-but-bond-flows-are-still-in-the-red/articleshow/96563652.cms">FPIs return to Indian equities in the second half of 2022, but bond flows are still in the red</a>

Indian markets wrap 2022 on a weak note – Sensex, Nifty50 decline on the last day of the year

<ul><li>The offer is a combination of fresh issue worth ₹320 crore and an offer for sale (OFS) of ₹545 crore.</li><li>The price band of the issue has been set at ₹415 - ₹436 per share.</li><li>The company intends to utilise the fresh issue towards debt repayment, funding working capital requirements and general corporate purposes.</li></ul>The electronic manufacturing services company <keyword id="14685095" type="General" weightage="20" keywordseo="Avalon-Technologies" source="Orion">Avalon Technologies</keyword> is all set to open its initial public offering (IPO) of shares on April 3 and close on April 6. The price band for the issue has been set at ₹415 - ₹436 per share. Shares of the company were already commanding a premium of ₹25 per share in the grey market. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The offer is a combination of fresh issue worth ₹320 crore and an offer for sale (OFS) of ₹545 crore. The company has reduced the size of its IPO from ₹1,025 crore it had planned to raise earlier. As per reports, the company cut its IPO size after it completed a pre-IPO placement – carried out between October 2022 and February 2023 – amounting to ₹160 crore. The company intends to utilise funds raised via the IPO towards debt repayment, funding working capital requirements and general corporate purposes. The company’s total net debt rose to ₹283 crore in FY22 from ₹261 crore in the previous financial year. Avalon is an end-to-end electronic manufacturing service solutions provider founded in 1999. Some of its key clients include Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation. It has 12 manufacturing units located across the US and India. The company says it can also benefit from the tailwinds of Aatmanirbhar Bharat and the production-linked incentive Scheme (PLI). About 75% of the issue has been reserved for qualified institutional investors, 15% for non-institutional investors and the remaining 10% for retail investors. Shares of the company will be listed on BSE and NSE on April 18. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">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><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;">EBITDA margin </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;">₹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;">₹68 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;">11.60% </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;">₹690 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;">₹23 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;">9.58% </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;">₹641 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;">₹12 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;">10.05% </td></tr></tbody></table>Source: RHP The company said it goes through huge competitive pressures in its business, which would be detrimental to its future prospects. “We face significant competition in our business. The markets for our products are characterised by factors such as rapid technological change, the development of new end products and their rapid obsolescence, evolving industry standards and significant price erosion over the life of a product,” said the company in its red herring prospectus. Its key competitors include Indian EMS providers such as Dixon Technologies (India), Amber Enterprises India, Elin Electronics, Syrma SGS Technology, Kaynes Technology India, VVDN Technologies and Bharat FIH Limited. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/hiring-outlook-remains-strong-for-blue-collar-jobs-in-manufacturing-and-services-in-q1-2024/articleshow/99060293.cms">Amid layoff doom, hiring outlook remains strong for blue-collar jobs in manufacturing and services: TeamLease</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/reits-and-invits-become-attractive-after-major-taxation-overhang-removed/articleshow/99058405.cms">REITs and InvITs become attractive after major taxation overhang removed</a>

Electronic manufacturing services firm Avalon Technologies’ ₹865 crore IPO to open on April 3

<ul><li>The IPO received fairly decent demand from retail investors as 16% of the shares reserved for them were subscribed.</li><li>The price band of the IPO is set at ₹415-436 per share.</li><li>The shares of the company are currently commanding a grey market premium, or GMP, of ₹30 per share.</li></ul>Only 3% of the initial public offering of <keyword id="14685095" type="General" weightage="20" keywordseo="Avalon-Technologies" source="Orion">Avalon Technologies</keyword> was subscribed on the first day of the IPO, on Monday. However, it did receive fairly decent demand from retail investors as 16% of the shares reserved for them were subscribed. Qualified institutional buyers (QIBs) however made no bids at all, for the IPO. The IPO will close on April 6, 2023. The offer is a combination of fresh issue worth ₹320 crore and an offer for sale (OFS) of ₹545 crore. The company has reduced the size of its IPO from ₹1,025 crore it had planned to raise earlier. As per reports, the company cut its IPO size after it completed a pre-IPO placement – carried out between October 2022 and February 2023 – amounting to ₹160 crore. The price band of the IPO is set at ₹415-436 per share. The shares of the company are currently commanding a grey market premium, or GMP, of ₹30 per share. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in an unofficial market before they are listed on the stock exchanges. The company intends to utilise funds raised via the IPO towards debt repayment, funding working capital requirements and general corporate purposes. The company’s total net debt rose to ₹283 crore in FY22 from ₹261 crore in the previous financial year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">0.00 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;">0.01 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;">0.16 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;">0.03 times </td></tr></tbody></table> Avalon is an end-to-end electronic manufacturing service solutions provider founded in 1999. Some of its key clients include Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation. It has 12 manufacturing units located across the US and India. The company says it can also benefit from the tailwinds of Aatmanirbhar Bharat and the production-linked incentive Scheme (PLI). Analysts have recommended subscribing to the IPO on strong growth prospects in the Indian electronic manufacturing services (EMS) industry. “Considering the healthy business prospects for the Indian electronic manufacturing services (EMS) industry, company’s high return ratios and similar margins relative to peers and valuation comfort at 55.5x P/E on annualised FY23 financials, we recommend ‘subscribe’ to the issue,” said analysts at Reliance Securities. The company’s key competitors include Indian EMS providers such as Dixon Technologies (India), Amber Enterprises India, Elin Electronics, Syrma SGS Technology, Kaynes Technology India, VVDN Technologies and Bharat FIH Limited. “Its unique offering and B2B model help Avalon with long-term relationships with its diverse customers, ensuring incremental order book and steady margin. We recommend ‘subscribe’ for the long term,” said a report by Canara Bank Securities. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-tumble-amid-reports-of-sebi-probe-group-market-capitalisation-falls-by-22000-crore/articleshow/99214962.cms">Adani group stocks tumble amid reports of SEBI probe: Group market capitalisation falls by ₹22,000 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/india-incs-credit-quality-continues-to-shine-in-fy23-slowdown-concerns-could-impact-it-textile-sectors-says-icra/articleshow/99211589.cms">India Inc’s credit quality continues to shine in FY23: Slowdown concerns could impact IT, textile sectors, says ICRA</a>

Avalon Technologies’ IPO subscribed 3% on the first day of issue

LIC, Delhivery, Kfin Tech among IPO duds of FY23

Global digital transformation and cybersecurity solutions provider <keyword id="15803812" type="General" weightage="80" keywordseo="noventiq" source="Orion">Noventiq</keyword> on Friday announced it has acquired <keyword id="11929101" type="General" weightage="80" keywordseo="cloud" source="Orion">Cloud</keyword> managed services provider G7 CR Technologies <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> Pvt Ltd, one of principal <keyword id="10387" type="General" weightage="50" keywordseo="microsoft" source="Orion">Microsoft</keyword> partners in the country, for an undisclosed sum, as it aims to have a $1 billion business in the country. This acquisition further strengthens Noventiq's place as the leading player in the market for Microsoft solutions in India, one of the world's fastest growing IT markets. Headquartered in Bengaluru, G7 CR which currently works with over 600 customers from the small and medium enterprises (SMEs), big enterprises, government and startup sectors across India, will bring 200 professionals to Noventiq. "This transaction represents our fourth acquisition in this country which shows how important it is for our strategy to continue to invest in India, for India. Our goal is to have a $1 billion business in India in the mid-term," said Sergey Chernovolenko, CEO at Noventiq. Noventiq has acquired Value Point Systems (October), Umbrella Infocare (February) and Embee (January 2021) in India in the past two years. G7 CR is a Microsoft Solution partner for data and AI, infrastructure, digital and app innovation, modern work and security. "Noventiq's global scale and G7CR's technology skills combined will enable us to provide a wider solution offering, and deeper tech engagements, to our existing and future customers," said <keyword id="3828180" type="General" weightage="50" keywordseo="christopher-richard" source="Orion">Christopher Richard</keyword>, Managing Director and Founder, G7 CR Technologies India. London-headquartered Noventiq is the new brand name of Softline Holding. The company connects over 75,000 organisations from all industries with hundreds of IT vendors. The company delivered turnover of approximately $1.1 billion in the fiscal year 2021. It has 3,900 employees in almost 60 countries across Asia, Latin America, Europe, Middle East and Africa. SEE ALSO: <a href="https://www.businessinsider.in/india/news/ice-cubes-to-gulab-jamuns-and-50-lakh-kilos-of-organic-fruits-and-veggies-how-india-swiggyd-in-2022/articleshow/96275305.cms">Ice cubes to gulab jamuns and 50 lakh kilos of organic fruits and veggies – how India Swiggy’d in 2022</a> <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-to-outpace-world-average-growth-in-2023-can-it-duck-global-headwinds/articleshow/96256621.cms">Indian economy to outpace world average growth in 2023 – Can it duck global headwinds?</a> <a href="https://www.businessinsider.in/stock-market/news/elin-electronics-to-open-its-ipo-next-week-on-dec-20-gmp-at-30-apiece/articleshow/96278346.cms">Elin Electronics to open its IPO next week on Dec 20; GMP at ₹30 apiece</a>

Noventiq acquires India's leading Cloud managed services provider G7 CR

<ul><li>In December, <keyword id="6357979" type="General" weightage="20" keywordseo="mutual-funds" source="Orion">mutual funds</keyword> deployed ₹14,700 crore in the secondary market.</li><li>Mutual funds participated in the IPO of five of the seven companies that debuted on the stock exchanges during December.</li><li>Key stocks that mutual funds bought in the month of December include HDFC, Reliance Industries and Maruti Suzuki.</li><li>While smallcap funds and midcap funds witnessed highest flows during December, multicap, largecap , flexicap and focused schemes were out of flavour as they either saw outflow or negligible inflows.</li><li>SIP inflows hit an all-time high of ₹13,573 crore in December. </li></ul>In December, mutual funds deployed ₹14,700 crore in the secondary market while foreign institutional investors (FIIs) sold ₹6,300 crore, says a report by Nuvama Institutional Equities (previously known as Edelweiss Institutional Equities). Mutual funds have also participated strongly in initial public offerings (IPOs) in December – investing in five of the seven initial public offers that made their debuts on the stock exchanges during the month. The fund houses deployed ₹440 crore in Kfin Technologies, ₹150 crore in Sula Vineyards, ₹120 crore in Landmark Cars, ₹100 crore in Elin Electronics and ₹20 crore in Radiant Cash Management. Inflows into equity mutual fund schemes also more than tripled to ₹7,303 crore in December, from ₹2,258 crore in November, according to Association of Mutual Funds in India (AMFI). This means that inflows into equity MFs have been positive for 22 months straight now. Key stocks that mutual funds bought in the month of December include HDFC, Reliance Industries and Maruti Suzuki while they trimmed their holdings in Axis Bank, HCL Technologies and ICICI Bank, as per Nuvama. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Key additions by MFs </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;">Key deductions by MFs </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;">HDFC (₹2,410 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;">Axis Bank (₹1,330 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;">Reliance Industries (₹1,890 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;">HCL Technologies (₹830 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;">Maruti Suzuki (₹1,670 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;">ICICI Bank (₹570 crore) </td></tr></tbody></table>(Source: Nuvama Institutional Equities) While smallcap funds and midcap funds witnessed highest flows for the month, multicap, largecap, flexicap and focused schemes were out of flavour with these witnessing either outflows or negligible inflows. This has been the trend for quite a few months now, says Nuvama. Strong inflows in mutual funds is because of consistent commitment made by retail investors through systematic investment plans (SIPs). The number of SIP accounts in the industry reached 6.12 crore in December against 6.04 crore in November. In fact, SIP inflows are at an all-time high, hitting ₹13,573 crore in December. Meanwhile, the net assets under management (AUM) of the mutual fund industry grew to ₹39.88 lakh crore from ₹37.72 lakh crore last year. <table style="border-width: initial; border-style: none;"></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;">Key additions in Midcap by MFs </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;">Key reductions in Midcap by MFs </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;">Key additions in Smallcap by MFs </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;">Key reductions in Smallcap by MFs </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;">Ajanta Pharma </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;">Narayana Hrudayalaya </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;">Sapphire Foods </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;">Amara Raja Batteries </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;">Jindal Stainless </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;">Gujarat Gas </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;">KFin Technologies </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;">Praj Industries </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;">Max Financial </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;">Ramco Cements </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;">GMM Pfaudler </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;">Eris Lifesciences </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;">Power Finance Corp </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;">Voltas </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><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></tbody></table>(Source: Nuvama Institutional Equities) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hcl-tech-lowers-revenue-guidance-for-fy23-to-13-5-14-q3-revenue-and-profit-growth-beat-expectations/articleshow/96944379.cms">HCL Tech lowers revenue guidance for FY23 to 13.5-14%, Q3 revenue and profit growth beat expectations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">Infosys raises revenue guidance for FY23 to 16-16.5%, revenue growth beats analyst expectations</a>

MFs add HDFC, Reliance Industries, KFin Tech, Sula Vineyards in December

<ul><li>Indian benchmark indices opened on a positive note on Wednesday amid mixed cues in <keyword id="46984" type="General" weightage="20" keywordseo="global-markets" source="Orion">global markets</keyword> ahead of the holiday season.</li><li>The 30-stock <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened 291 points higher at 61,994, while the 50-stock <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> opened 50 points higher at 18,435.</li><li>Bharti Airtel, Dabur India, Delhivery and Jubilant Foodworks are amongst the <keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">stocks to watch</keyword> out for on Wednesday.</li></ul> Sensex and Nifty50 opened on a positive note on Wednesday amid mixed cues in US and <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword>. SGX Nifty, an indicator of how the markets may perform, was up 0.4% or 70 points earlier in the morning today. The 30-stock Sensex opened 291 points higher at 61,994, while the 50-stock Nifty50 opened 50 points higher at 18,435. Earlier yesterday, Sensex and Nifty50 closed marginally lower after experiencing volatility, closing the day 0.2% in the red. “Indian markets could open higher, in line with mostly higher Asian markets today and positive US markets on Tuesday,” said Deepak Jasani, head of retail research at HDFC Securities. US markets snap four-day losing streak Markets in the US snapped a four-day losing streak, closing marginally higher on Tuesday even as concerns lingered about demand during the crucial holiday season. The S&amp;P 500 index closed 0.1% up, while the Dow Jones Industrial Average ended 0.28% higher. The tech-heavy Nasdaq was flat, closing the day with just 0.01% gains. “U.S. stocks finished modestly higher on Tuesday, bouncing after a four-session skid, as investors gauged whether the recent losing streak in equities has been overdone. Traders also weighed the potential ripple effects of the Bank of Japan’s surprise announcement to put a higher ceiling on government bond yields,” added Jasani. In Asia, markets were mixed on Wednesday morning amid a surge of Covid-19 cases in China. While the Hang Seng index gained 0.36%, the Shanghai Composite was up 0.25%, and Taiwan Weighted gained 0.68%. Nikkei 225, on the other hand, was down 0.22%. Besides, today is the last day to subscribe to KFin Technologies IPO that has been subscribed only 70% so far. Moreover, it is the second day to subscribe to Elin Electronics IPO that has been subscribed 37% on the first day. Stocks to watch out for on Wednesday Dabur India: Burman family entities sold approximately 1% of the company’s equity through a block deal on Tuesday. Bharti Airtel: The telecom operator announced that it has acquired 8% stake in technology startup Immensitas, which runs Lemnisk, under the Airtel Startup Accelerator Program. Delhivery: The logistics company has acquired Pune-based Algorhythm Tech that provides supply chain solutions for ₹14.90 crore. Jubilant Foodworks: The Domino’s operator announced that it will add another 1,300 stores across the country, taking the total count to over 3,000. It currently has 1,701 stores across 371 Indian cities. Adani Green Energy: Received the Zero Waste to Landfill certification after an audit by Intertek for its total operating capacity. This indicates that the company has an effective waste management system. Stocks in F&amp;O ban on Wednesday Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and PNB are in the list of stocks under the F&amp;O ban on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-and-reliance-jio-could-hike-tariffs-by-as-much-as-10-according-to-analysts/articleshow/96375427.cms">Bharti Airtel, Reliance Jio expected to hike tariffs by 10%, says Jefferies</a> <a href="https://www.businessinsider.in/finance/news/rbi-to-pause-rate-hikes-in-2023-peak-rate-at-6-25-to-6-5-percent-says-kotak-institutional-equities/articleshow/96371881.cms">RBI to pause rate hikes for most of 2023, hold peak policy rate at 6.25-6.5%: Kotak Institutional Equities</a> <a href="https://www.businessinsider.in/stock-market/news/ipos-pick-up-steam-in-last-three-months-of-2022-strong-pipeline-likely-to-propel-listings-in-2023/articleshow/96325621.cms">IPOs pick up steam in last three months of 2022 – Strong pipeline likely to propel listings in 2023</a>

Sensex, Nifty50 open higher amid mixed cues in US and Asian markets – Airtel, Dabur, Delhivery among stocks to watch out for

<ul><li>Domestic benchmark indices opened lower on Tuesday following weak cues from global markets due fears of recession gaining strength.</li><li>The 30-stock <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened 197 points lower at 61,609, while the 50-stock <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> opened 80 points lower at 18,340.</li><li>Dabur, Just Dial, and Hindustan Zinc are amongst the <keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">stocks to watch</keyword> out for on Tuesday. </li></ul>Domestic benchmark indices opened lower on Tuesday following weak cues from global markets due fears of recession gaining strength. <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the markets may perform, was down 0.6% early in the morning today. The 30-stock Sensex opened 197 points lower at 61,609, while the 50-stock Nifty50 opened 80 points lower at 18,340. Both the indices <a href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-snap-two-day-losing-streak-driven-by-auto-fmcg-and-metal-stocks/articleshow/96346862.cms">snapped their two-day losing streak</a> on Monday after a choppy trading session, ending 0.8% higher, driven by auto, FMCG and metal stocks. “Indian markets could open flat to mildly lower, in line with mostly lower Asian markets today and lower US markets on Monday,” said Deepak Jasani, head of retail research at HDFC Securities. Asian markets in the red over Covid concerns Asian share markets were trading mostly in negative territory on Tuesday, as investors anticipated a somewhat rocky road for China's unwinding of COVID restrictions and the prospect that U.S interest rates will rise higher than expected in 2023. The People's Bank of China kept its key lending rates steady. Tech stocks pull S&amp;P 500 to its lowest level in a month The US markets continued to decline amid fears of a recession and rate hikes not abating. The Santa rally fizzled out even before it could gain momentum, with the S&amp;P 500 falling 0.9%, while the Dow Jones Industrial Average fell 0.49%. The tech-heavy Nasdaq declined 1.49% amid fears of an IT slowdown. The fall in US’ tech stocks also dragged the benchmark S&amp;P 500 to its lowest levels in a month. “Investors seemed worried time is running out for a year-end rally. The S&amp;P 500 closed at its lowest level in more than a month, dragged by declines in big-tech firms including Apple Inc., Microsoft Corp. and Amazon.com Inc,” said Jasani. Brent crude oil prices edged up 0.7% today to hover around $80.36 per barrel. Besides, Elin Electronics IPO will open for subscription today (December 20) and will close on December 22. Meanwhile, it is the second day to subscribe to the KFin Technologies IPO. Stocks to watch out for on Tuesday Dabur India: The Burman family, promoters of Dabur India, are looking to sell ₹800 crore worth of shares via block deal, according to reports. The transaction is expected to take place at a 4% discount to the stock price. Just Dial: The company’s promoter Reliance Retail Ventures will sell a 2% stake in the company through an open market sale to achieve minimum public shareholding. Hindustan Zinc: The Vedanta Group firm Hindustan Zinc is planning to invest over $1 billion (₹8,270 crore) to convert its diesel fired mining vehicles into battery operated ones. Bharti Airtel: Added 0.8 million subscribers in October, with a total subscriber base of 365 million. Reliance Industries: Its telecom arm Reliance Jio added 1.4 million subscribers, taking its total subscriber base to 421 million. Vodafone Idea: Lost 3.5 million subscribers, with its subscriber base falling to 245 million. Stocks in F&amp;O ban on Tuesday IRCTC, Punjab National Bank, Balrampur Chini Mills, Indiabulls Housing Finance, Bharat Heavy Electricals, Gujarat Narmada Valley Fertilizers, and Delta Corporation are in the list of stocks under F&amp;O ban on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-gainers-and-losers-stocks-of-2022-in-india/articleshow/96332417.cms">Best and worst performing stocks of 2022</a> <a href="https://www.businessinsider.in/stock-market/news/ipos-pick-up-steam-in-last-three-months-of-2022-strong-pipeline-likely-to-propel-listings-in-2023/articleshow/96325621.cms">IPOs pick up steam in last three months of 2022 – Strong pipeline likely to propel listings in 2023</a> <a href="https://www.businessinsider.in/business/news/average-debt-cost-for-top-eight-listed-realty-players-lowest-since-pandemic-says-anarock/articleshow/96345107.cms">Average debt cost for top eight listed realty players lowest since pandemic, says Anarock</a>

You Searched For "Elin Electronics IPO" and got 11 results

Elin Electronics lists at a 1.62% discount on the bourses

Bhakti Makwana

Elin Electronics to open its IPO next week on Dec 20; GMP at ₹30 apiece

Bhakti Makwana

Two IPOs set to raise nearly ₹2,000 crore this week

Bhakti Makwana

Indian markets wrap 2022 on a weak note – Sensex, Nifty50 decline on the last day of the year

Rounak

Bhakti

Electronic manufacturing services firm Avalon Technologies’ ₹865 crore IPO to open on April 3

Bhakti Makwana

Avalon Technologies’ IPO subscribed 3% on the first day of issue

Bhakti Makwana

LIC, Delhivery, Kfin Tech among IPO duds of FY23

Bhakti Makwana

Noventiq acquires India's leading Cloud managed services provider G7 CR

IANS

MFs add HDFC, Reliance Industries, KFin Tech, Sula Vineyards in December

Bhakti Makwana

Sensex, Nifty50 open higher amid mixed cues in US and Asian markets – Airtel, Dabur, Delhivery among stocks to watch out for

Rounak

Bhakti

Sensex, Nifty50 open lower amid mixed market cues – Dabur, Just Dial, Hindustan Zinc among stocks to watch out for

Rounak

Bhakti

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