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<ul><li><keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova AgriTech</keyword> is expected to announce its share allotment status on Monday, January 29.</li><li>The shares of Nova AgriTech were subscribed 109.37 times.</li><li>The shares are expected to be listed on the stock exchanges on January 31.</li></ul> Telangana-based Nova AgriTech, which offers soil health management, crop nutrition, crop protection products and more is expected to announce the allotment status of its initial public offering (IPO) on Monday, January 29. The <keyword id="16720623" type="General" weightage="20" keywordseo="Nova-AgriTech-IPO" source="Orion">Nova AgriTech IPO</keyword> opened on January 23 and closed on January 25. The price band for the IPO was ₹39 to ₹41 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Nova AgriTech IPO was subscribed 109.37 times, receiving bids for 277.95 crore equity shares against 2.54 crore shares on offer. While the qualified institutional buyer portion was subscribed 79.31 times, the non-institutional investors portion was subscribed 224.06 times. The retail portion also witnessed excellent participation and was subscribed 77.11 times. Grey market premium The shares of Nova AgriTech are currently commanding a grey market premium (GMP) of ₹20 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="20333646" type="General" weightage="20" keywordseo="Nova-AgriTech-IPO-allotment-status" source="Orion">Nova AgriTech IPO allotment status</keyword>, visit the registrar’s website<a href="https://ipo.bigshareonline.com/IPO_Status.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Nova AgriTech’.</li><li>Now, select PAN, application number, or beneficiary ID and provide the details.</li><li>Now, enter the captcha.</li><li>Click on “Search”.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the <keyword id="20333645" type="General" weightage="100" keywordseo="Nova-AgriTech-IPO-allotment" source="Orion">Nova AgriTech IPO allotment</keyword> status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Nova AgriTech’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Nova AgriTech IPO listing date" comment="subhead" text="Nova AgriTech IPO listing date">Nova AgriTech IPO listing date</cmsannotation> The shares of Nova AgriTech will be listed on the stock exchanges on January 31. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/battle-of-the-flagships-galaxy-s24-ultra-vs-oneplus-12-vs-iqoo-12-vs-vivo-x100-pro/articleshow/107137774.cms">Battle of the flagships – Galaxy S24 Ultra vs OnePlus 12 vs iQOO 12 vs Vivo X100 Pro</a> <a href="https://www.businessinsider.in/business/auto/webstories/revolt-rv400-brz-an-electric-bike-for-the-city-with-150-km-range-hits-indian-roads/slidelist/107142891.cms">Revolt RV400 BRZ – An electric bike for the city with 150 km range hits Indian roads</a> <a href="https://www.businessinsider.in/business/auto/news/rolls-royce-spectre-rolls-out-as-indias-most-expensive-electric-car/articleshow/107051636.cms">Rolls Royce Spectre rolls out as India’s most expensive electric car</a>

Nova AgriTech IPO allotment – How to check allotment, GMP, listing date and more

<ul><li>The issue, with a face value of ₹2 per equity share, comprises a fresh issue of equity shares valued at up to ₹112 crore. </li><li>The proceeds of the fresh issuance will be used to invest in its subsidiary <keyword id="20225325" type="General" weightage="20" keywordseo="nova-agri-sciences" source="keywords">Nova Agri Sciences</keyword> and funding the company’s capital expenditure, among others. </li><li><keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword>'s revenue from operations increased by 13.47% to ₹210.55 crore for the financial year 2022-23 from ₹185.56 crore for the financial year 2020-21. </li></ul>Nova Agritech, a manufacturer of agricultural inputs, is introducing its maiden initial public offer with a price range set at ₹39 to ₹41 per equity share. The Initial Public Offering will be open for subscription from Monday, January 22, 2024, to Wednesday, January 24, 2024. Investors can bid for a minimum of 365 equity shares and in multiples of 365 equity shares thereafter. The company intends to raise as much as ₹143.81 crore via the public issue. The issue, with a face value of ₹2 per equity share, comprises a fresh issue of equity shares valued at up to ₹112 crore and an offer-for-sale (OFS) of up to 77,58,620 equity shares by Nutalapati Venkatasubbarao, the sole selling shareholder. The proceeds of the fresh issuance will be allocated as follows: ₹14.20 crore for investment in its subsidiary, Nova Agri Sciences, aimed at establishing a new formulation plant. Additionally, ₹10.49 crore will be utilised for funding the company's capital expenditure, specifically for expanding its current formulation plant. Another ₹26.65 crore will be earmarked to meet working capital requirements, while ₹43.36 crore will be allocated for investment in its subsidiary, Nova Agri Sciences, to support working capital needs and general corporate purposes. Financials and risk factors Nova Agritech's revenue from operations increased by 13.47% to ₹210.55 crore for the financial year 2022-23 from ₹185.56 crore for the financial year 2020-21. This growth was primarily driven by an increase in business volumes due to technical import registrations, expansion into new states like <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword>, and the consolidation of business in existing states, namely Telangana, Andhra Pradesh, and Karnataka. The profit after tax also witnessed a significant rise, increasing by 49.69% to ₹20.49 crore for the financial year 2022-23 from ₹13.69 crore for the financial year 2021-22. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For the year ended March 31, 2023 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For the year ended March 31, 2022 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For the year ended March 31, 2021 </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹20.49 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.68 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6.29 </td></tr><tr><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operation </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹210.55 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹185 </td><td style="border-left:solid #000000 0.68181825pt;border-right:solid #000000 0.68181825pt;border-bottom:solid #000000 0.68181825pt;border-top:solid #000000 0.68181825pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹160 </td></tr></tbody><tbody></tbody></table> Source: Press release, DRHP *All figures in Rs cr For the six months ending on September 30, 2023, revenue from operations stood at ₹103.22 crore, and profit after tax stood at ₹10.38 crore. The company believes that having strong brands is crucial for its growth and success. However, they recognize that it's not easy to keep these brands strong and develop them further. This uncertainty poses a challenge for the company in maintaining success in this aspect. To address this, the company plans to use part of the money earned from the offer to invest in its subsidiary, Nova Agri Sciences. The goal is to build a new formulation plant. Despite this plan, the company knows there might be challenges like delays and increased costs. Another important plan is to give funds to Nova Agri Sciences to create a new formulation plant and help expand the existing one at Nova Agritech. However, at this point, the company hasn't ordered the necessary machinery, which could lead to delays affecting future growth and financial stability. Understanding the value of its people, the company stresses the importance of its leaders, the promoters, and senior management. They know that if key people leave, it could affect the business. So, they want to attract and keep these important team members for long-term success. The company also sees managing and growing its dealer network as crucial. While they are working on these aspects, they admit there might be challenges that could affect sales and make it harder to reach expected profits. About Nova Agritech Nova Agritech operates as an agri-input manufacturer specialising in soil health management, crop nutrition, and crop protection products. The company adopts a technology-driven, farmer-centric approach, emphasising ecologically sustainable and nutritionally balanced solutions developed through its research and development initiatives. The company engages in the manufacturing, distribution, and marketing of various product categories, including soil health management, crop nutrition, bio stimulants, bio pesticides, Integrated Pest Management (IPM), new technologies, and crop protection. Currently, its subsidiary, Nova Agri Sciences, handles the production of crop protection products. As of November 30, 2023, Nova Agritech holds a total of 720 product registrations, spanning diverse categories such as soil health management, crop nutrition, bio pesticides, technical indigenous manufacturing, and crop protection. These registrations include 7 in soil health management, 176 in crop nutrition, 4 in bio pesticides, 7 in technical indigenous manufacturing, and 526 in crop protection.

Nova Agritech IPO to open on January 22, price band fixed at ₹39-41/sh

<ul><li>The stock closed at ₹320 on Wednesday as compared to listing price of ₹311.</li><li>The company’s market cap is at ₹2,207 crore as per Bombay Stock Exchange.</li><li>The grey market was expecting 19% listing gains from the stock. </li></ul>Hardware distribution major <keyword id="20436645" type="General" weightage="20" keywordseo="rashi-peripherals" source="keywords">Rashi Peripherals</keyword> debuted on the bourses with a 7.7% premium on early Wednesday. But it pared some of its gains during the day, to close 3% ahead of its issue price. The stock closed at ₹320 as compared to its listing price of ₹311. The company’s market cap is at ₹2,207 crore as per Bombay Stock Exchange. It disappointed the grey market which was expecting 19% listing gains from the stock. The ₹600 crore issue was subscribed 62 times the shares on offer. It raised ₹180 crore from anchor investors like ICICI Prudential, Aditya Birla Sun Life Insurance, SBI General Insurance and more; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. However, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" 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;">Company </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;">Listing gains </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;">Apeejay Surrendra Parks </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;">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;">BLS E-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;">129% </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;">Nova Agritech </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% </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;">EPACK Durable </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;">Jyoti CNC </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;">30% </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;">Innova Captab </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;">21% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Its initial public offer is entirely a fresh issue, using which it intends to pay off loans, towards working capital and general corporate purposes. The Mumbai-based company distributes over 10,500 types of tech products. It has branches in 50 cities that operate as sales and service centres and warehouses. They cover 680 locations across 28 states and union territories in India through an ecosystem of 8,407 customers, as of September 30, 2023. It’s also the distribution partner of 52 global brands including Dell, Asus, HP, Logitech and more. With a wide footprint as well as a wide product range, <keyword id="20472594" type="General" weightage="20" keywordseo="rashi" source="keywords">Rashi</keyword> has been able to garner a chunky market share as a pan-India distributor of technology products. It has over 45% market share in processors, graphics cards and pen drives; over 20% market share in routers (33%), hard drivers, keyboards and mice, monitors; and over 10% share in UPS, laptops, desktops and switches. Its revenue from operations grew by 57% in FY23, and profit by 35%. But it raked up debt to the tune of ₹1,275 crore, as of September 2022, including unsecured loans to the tune of ₹19 crore from promoters and members of promoter group and others. The <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> proceeds can help cushion some of it, believe analysts. “Utilization of IPO proceeds would lower the financial liabilities, whereas availability of working capital would boost the business expansion capabilities in the medium-term,” says <keyword id="20287834" type="General" weightage="20" keywordseo="choice-broking" source="keywords">Choice Broking</keyword>.

Rashi Peripherals closes 3% ahead of issue price on debut day

<ul><li>The stock listed at ₹396 ahead of its issue price of Rs 414 per share.</li><li>Its market capitalisation is at ₹4,09,366.34 lakhs, according to <keyword id="19938957" type="General" weightage="20" keywordseo="national-stock-exchange" source="keywords">National Stock Exchange</keyword>. </li></ul> <keyword id="20438937" type="General" weightage="100" keywordseo="jana-small-finance-bank" source="keywords">Jana Small Finance Bank</keyword> listed with muted gains on Wednesday morning on Dalal Street. The stock listed at ₹396 verus its issue price of ₹468. Its market capitalisation is at ₹4,09,366.34 lakhs, according to National Stock Exchange. The grey market was expecting 7% listing gains from the stock. The ₹570 crore issue was subscribed almost 20 times the shares on offer. It has mobilised Rs 166.95 crore from investors like <keyword id="20254321" type="General" weightage="20" keywordseo="sbi-life-insurance-company" source="keywords">SBI Life Insurance Company</keyword>, HDFC Life Insurance Company, Kotak Iconic Fund and more; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. However, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <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;">Company </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;">Listing gains </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;">Apeejay Surrendra Parks </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;">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;">BLS E-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;">129% </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;">Nova Agritech </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% </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;">EPACK Durable </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;">Jyoti CNC </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;">30% </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;">Innova Captab </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;">21% </td></tr></tbody></table> The issue is a combination of fresh issue and an offer for sale. It intends to use as much as ₹462 crore raised from net proceeds to augment its tier-1 capital base. The small finance bank was incorporated in July 2006, and was awarded NBFC-MFI status in 2013. They started operating as a Small Finance Bank from 2018, and became a Scheduled Commercial Bank in 2019. As at September 30, 2023, they had 771 banking outlets, including 278 banking outlets in unbanked rural centers, in 22 states and two union territories. Their business model is centered on building a ‘one-stop shop’ to cater to their customers’ different financial needs. They expanded their asset products, and launched gold loans, MSME loans with revised credit and collateral conditions in FY18, affordable housing loans, secured business loans, and loans against fixed deposits in FY19, and two-wheeler loans in FY21. The digitalised bank offers its customers a number of digital products, services, and platforms, including mobile banking and internet banking. “Jana Small Finance Bank is a digitalized bank and majority services are available in digital form to customers with integrated risk and governance framework and customer-centric organisation with more than 16 years’ experience in serving under banked and underserved customers along with pan-India presence with strong brand recognition,” said a report by <keyword id="20548750" type="General" weightage="20" keywordseo="anand-rathi" source="keywords">Anand Rathi</keyword> which gives it a ‘subscribe’ rating.

Weak debut: Jana Small Finance Bank lists at 4% discount to IPO price

<ul><li>Shareholder lock-ins of 66 companies are slated to expire between April and June.</li><li>The cumulative value of stocks that will see lock-ins expire is estimated at $17.7 billion.</li><li>Anchor investors, promoters and non-promoters have different lock-in periods as per regulations. </li></ul>The IPO boom of 2023 means the current year will see many newly listed stocks coming out of their mandated lock-in periods. As per a report by Nuvama, per-listed shareholder lock-ins of 66 companies are slated to expire between April and June of this year. “It amounts to a value of $17.7 billion. The value pertains to the total lock-up opening shares, but it’s important to note that not all of these shares will come for sale as a sizable portion of these shares are also held by promoter &amp; group,” said <keyword id="20055355" type="General" weightage="20" keywordseo="nuvama-institutional-equities" source="keywords">Nuvama Institutional Equities</keyword>. Some of the best-performing and investor-rewarding new listings that will see lock-ins expire include – <keyword id="19930935" type="General" weightage="20" keywordseo="tata-technologies" source="keywords">Tata Technologies</keyword>, <keyword id="19960579" type="General" weightage="20" keywordseo="ireda" source="keywords">IREDA</keyword>, Doms, <keyword id="20021844" type="General" weightage="20" keywordseo="cello-world" source="keywords">Cello World</keyword> and more. How do lock-ins work? While public shareholders of a company can sell their stock anytime in the market, after they are listed, the rules are different for other classes of investors. As per regulations, anchor investors — who invest ahead of opening an issue to the public — must wait for 30 days or one month from the allotment date to sell half of their shares in the public market. The rest can be sold after 90 days or three months. Promoters and other shareholders have different lock-in expiry rules. Promoters can sell their shares to the tune of 20% of the post-issue paid-up in the open market after 18 months. For other non-promoters, the lock-in ends in six months. Bharat Highways Invit’s 19% stake lock-in In the month of April, eight companies’ one-month lock-ins will expire including — Platinum Industries, J G Chemicals, Popular Vehicles and Services, Exicom Telesystems, R K Swamy, <keyword id="20778208" type="General" weightage="20" keywordseo="gopal-snacks" source="keywords">Gopal Snacks</keyword> and Krystal Integrated Services. Each of these has anywhere between 2% to 6% of their shares open for sale. But Bharat Highways Invit will see 19% of its lock-in expiring bringing out as much as 82.6 million shares out into the market. In general, the volatility around a stock goes up when lock-in periods end. The other stocks that will see their three-month lock-ins open in April would be — <keyword id="20730654" type="General" weightage="20" keywordseo="mukka-proteins" source="keywords">Mukka Proteins</keyword>, Jyoti CNC Auto, Epack Durables, Medi Assist Healthcare and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword>. May to see the ‘chunkiest of lock-in openings’ Since a lot of IPOs were launched in the last three months of 2023, the summer of May will see the chunkiest of lock-ins opening. That includes 65% shares of mega IPOs like Tata Technologies; 55% of government-owned IREDA, 10% of DOMS and 49% of Honasa Consumer. The other companies Cello World, <keyword id="21150340" type="General" weightage="20" keywordseo="flair-writing" source="keywords">Flair Writing</keyword>, Inox India, Gandhar Oil, JSW Infra, Muthoot MicroFin, Motisons Jewelers, RBZ Jewelers and more, Some of the older stocks that will see lock-in expiries (beyond one year and more) include — <keyword id="20430709" type="General" weightage="20" keywordseo="bikaji-foods" source="keywords">Bikaji Foods</keyword>, Global Health, Abans Holding, <keyword id="20238928" type="General" weightage="20" keywordseo="keystone-realtors" source="keywords">Keystone Realtors</keyword>, Radiant Cash Management and more. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Tata Tech, IREDA and 64 other stocks to see lock-ins expire in Q1 FY25

<ul><li>The stock closed at ₹57, as compared to its issue price of ₹41.</li><li>The market capitalization of the company is at ₹518 crore, as per Bombay Stock Exchange.</li><li>The issue was subscribed 113x, with good interest from retail as well as institutional investors. </li></ul>Agri input manufacturer <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> landed a surprise by providing 39% listing gains to its investors on Wednesday. This is ahead of the grey market’s expectations of 37% listing gains. The stock closed at ₹57 as compared to its issue price of ₹41. The market capitalization of the company is at ₹518 crore, as per Bombay Stock Exchange. The ₹143.81 crore issue was subscribed 113 times the shares of the offer with good response from institutional and retail investors. It also raised ₹43.14 crore from anchor investors like Quantum-State Investment Fund, Neomile Growth Fund, AG Dynamic Funds Limited and <keyword id="20262846" type="General" weightage="20" keywordseo="saint-capital-fund" source="keywords">Saint Capital Fund</keyword> ahead of the IPO. The listing performance of companies in 2024 has been mixed in 2024, even as 2023 companies had stellar performance. EPACK Durable fell as much as 10% on Tuesday, as the <a href="https://www.businessinsider.in/stock-market/news/tepid-debut-epack-durable-lists-2-below-its-issue-price/articleshow/107247964.cms">benchmark indices were on a freefall</a>. Here are the listing gains of the last few market debuts <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;">Company </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;">Listing gains </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;">EPACK Durable </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;">Jyoti CNC </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;">30% </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;">Innova Captab </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;">21% </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;">Azad Engineering </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;">29% </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;">Doms </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;">77% </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;">Tata 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;">162% </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;">IREDA </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;">87% </td></tr></tbody><tbody></tbody><tbody></tbody></table> The IPO is a mix of fresh issue and an offer-for-sale (OFS). It plans to use net proceeds from the fresh issue as investment in its subsidiary, Nova Agri Sciences, establish a new formulation plant, and expand its current formulation plant. Nova Agritech operates as an agri-input manufacturer specialising in soil health management, crop nutrition, and crop protection products. The company adopts a technology-driven, farmer-centric approach, emphasising ecologically sustainable and nutritionally balanced solutions developed through its research and development initiatives. The company engages in the manufacturing, distribution, and marketing of various product categories, including soil health management, crop nutrition, bio stimulants, bio pesticides, Integrated Pest Management (IPM), new technologies, and crop protection. Currently, its subsidiary, Nova Agri Sciences, handles the production of crop protection products. As of November 30, 2023, Nova Agritech holds a total of 720 product registrations, spanning diverse categories such as soil health management, crop nutrition, bio pesticides, technical indigenous manufacturing, and crop protection. These registrations include 7 in soil health management, 176 in crop nutrition, 4 in bio pesticides, 7 in technical indigenous manufacturing, and 526 in crop protection. Nova Agritech's revenue from operations increased by 13.47% to ₹210.55 crore for the financial year 2022-23 from ₹185.56 crore for the financial year 2020-21. This growth was primarily driven by an increase in business volumes due to technical import registrations, expansion into new states like <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword>, and the consolidation of business in existing states, namely Telangana, <keyword id="19896313" type="General" weightage="20" keywordseo="andhra-pradesh" source="keywords">Andhra Pradesh</keyword>, and Karnataka. The profit after tax also witnessed a significant rise, increasing by 49.69% to ₹20.49 crore for the financial year 2022-23 from ₹13.69 crore for the financial year 2021-22.

Nova Agritech stock closes with 39% listing gains on debut day

<ul><li>The stock closed at ₹442 as compared to its issue price of ₹151 per share.</li><li>The market capitalization of the company is at ₹838 crore, as per Bombay Stock Exchange.</li><li>The grey market was expecting 86% listing gains, and the issue was subscribed 320x. </li></ul>Shares of <keyword id="20491580" type="General" weightage="20" keywordseo="vibhor-steel-tubes" source="keywords">Vibhor Steel Tubes</keyword> debuted on Dalal Street with 192% listing gains on Tuesday. The stock closed at ₹442 as compared to its issue price of ₹151 per share. The market capitalization of the company is at ₹838 crore, as per BSE. The grey market was expecting 86% listing gains from the stock. Analysts also believed that its price band has left enough room for good listing gains due to valuation gap with listed peers. The ₹72.17 crore issue was subscribed 320 times the shares on offer, with bumper applications from retail as well as institutional investors. It raised ₹21.5 crore from three anchor investors like Saint Capital Fund, Chhatisgarh Investments and Neomile Growth Fund - Series I; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. The last three listings, however, gave tepid listing gains, with small finance banks seeing share prices falling below their issue prices. However, the tranche before that saw good listing gains. <keyword id="20606345" type="General" weightage="20" keywordseo="apeejay-surrendra-parks" source="keywords">Apeejay Surrendra Parks</keyword>, BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have given positive returns to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" 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;">Company </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;">Listing gains </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;">Entero Healthcare </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;">-8.6% </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;">Rashi Peripherals </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% </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;">Capital 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;">-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;">Jana 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;">-4% </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;">Apeejay Surrendra Parks </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;">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;">BLS E-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;">129% </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;">Nova Agritech </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% </td></tr></tbody><tbody></tbody></table> The Haryana-based manufacturer of high-quality steel tubes and pipes’ IPO is a completely fresh issue. It intends to use it to fund its working capital requirements. The company operates two manufacturing facilities and one warehouse with a total capacity of 2,23,160 million tonne per annum in Maharashtra, Telangana and Haryana. It <keyword id="20653746" type="General" weightage="20" keywordseo="ssupplies" source="keywords">sSupplies</keyword> its products to western and southern market companies in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka and <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword>. The company has plans to expand its operations by setting up a manufacturing unit with a capacity of 1,20,000 MTPA in Orissa and expanding the current unit’s capacity in Telangana from 96,000 MTPA to 1,52,000 MTPA. VSTL has also entered into an agreement with Jindal Pipes Limited in April 2023. As part of the agreement, the company manufactures and supplies finished goods worth 1,00,000 MTPA to Jindal Pipes, which sells the products under the brand name Jindal Star. “The key strength of the company comes from the association with Jindal Pipes. Its capacity expansion gives long term visibility in terms of long term,” said Rajan Shinde, research analyst, Mehta Equities who gave it a ‘subscribe’ rating to the issue.

Stellar debut: Vibhor Steel Tubes share price almost doubles on listing

<ul><li>The stock closed at ₹434 as compared to its issue price of ₹468 per share.</li><li>Its market capitalization is at ₹1,959 crore, according to <keyword id="19911480" type="General" weightage="20" keywordseo="bombay-stock-exchange" source="keywords">Bombay Stock Exchange</keyword>. </li></ul><keyword id="20209228" type="General" weightage="20" keywordseo="capital-small-finance-bank" source="keywords">Capital Small Finance Bank</keyword>’s stock slipped 7% on its debut on Wednesday. The stock closed at ₹434 as compared to its issue price of ₹468. Its market capitalisation is at ₹1,959 crore, according to Bombay Stock Exchange. The ₹520 crore issue was subscribed four times over the shares on offer. It raised ₹157 crore from anchor investors like Nippon Life India, Edelweiss Tokio Life Insurance, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, <keyword id="19972599" type="General" weightage="20" keywordseo="sbi-general-insurance-company" source="keywords">SBI General Insurance Company</keyword> and more; ahead of opening the issue to the public. Surprisingly, there were no indications from the grey market on this small finance bank’s listing gains. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. However, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" 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;">Company </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;">Listing gains </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;">Apeejay Surrendra Parks </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;">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;">BLS E-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;">129% </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;">Nova Agritech </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% </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;">EPACK Durable </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;">Jyoti CNC </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;">30% </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;">Innova Captab </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;">21% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The small finance bank has fixed the price band of the public issue at ₹445-468 per share. The issue is a combination of fresh issue of shares, and an offer for sale. Net proceeds from the fresh issue which amounts to ₹450 crore will be used to augment its tier-I capital base. The Jalandhar based small finance bank was incorporated in 1999. With a range of banking products on the asset and liability side, it operates Punjab, Haryana, Delhi, Rajasthan, Himachal Pradesh and Union Territory of Chandigarh. “Our asset products primarily include agriculture loans, MSME and trading loans and mortgages. We focus primarily on the middle-income customer segments,” it said in its DRHP. As of September 30, 2023, its gross advances stood at ₹5,865 crore, while total deposits were at ₹7,000 crore. Its gross non-performing assets (NPAs) stood at 1.36%, while its net interest margin was at 4.04%. “Capital Small Finance Bank is a retail focused liability franchise with a high share of CASA. Their credit assessment processes, and risk management practices enable them to maintain good asset quality and low delinquencies. They have gained an understanding of their market and customer base over the years,” said an IPO note by <keyword id="20548750" type="General" weightage="20" keywordseo="anand-rathi" source="keywords">Anand Rathi</keyword>, which gives it a ‘subscribe-long term’ rating.

Capital Small Finance Bank closes 7% below issue price on market debut

<ul><li>The stock listed at ₹203 as compared to its issue price of ₹155 per share.</li><li>The grey market was expecting 23% listing gains from the stock.</li><li>Its market capitalisation is at ₹4,341 crore, as per Bombay Stock Exchange. </li></ul>Hotel chain <keyword id="20399039" type="General" weightage="20" keywordseo="apeejay-surrendra-park-hotels" source="keywords">Apeejay Surrendra Park Hotels</keyword> debuted on Dalal Street at a 20.6% premium on Monday. It gained during the day and closed 31% ahead of its issue price. The grey market was expecting 23% listing gains from the stock. The stock closed at ₹203 as compared to its issue price of ₹155 per share. Its market capitalization is at ₹4,341 crore, as per Bombay Stock Exchange. “We believe the healthy listing is justified on the back of reasonable valuations to peers; and government push towards the hospitality and tourism industry. Its primary objective of reducing debt could lighten interest burden which can improve the bottom lines in coming years,” said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, senior VP of research at Mehta Equities. He recommends allotted investors to ‘hold’ the stock with a long-term perspective. The ₹920 crore public issue was subscribed 63 times over the shares on offer. Ahead of the IPO, it raised ₹409.5 crore from anchor investors including Societe Generale, Troo Capital, Julius Baer India, Citigroup Global, Integrated Core Strategies and more. While the listing performance of 2024’s market debuts have been mixed, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" 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;">Company </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;">Listing gains </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;">BLS E-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;">129% </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;">Nova Agritech </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% </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;">EPACK Durable </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;">Jyoti CNC </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;">30% </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;">Innova Captab </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;">21% </td></tr></tbody><tbody></tbody><tbody></tbody></table> The ₹920 crore issue had a fresh issue of ₹600 crore, and an Offer-for-Sale aggregated to ₹320 crore by selling shareholders. The company proposes to utilize net proceeds from fresh issue towards repayment and or prepayment, in full or in part of certain outstanding borrowings availed by company and balance amount towards general corporate purposes. Apeejay Surrendra <keyword id="20251896" type="General" weightage="20" keywordseo="park" source="keywords">Park</keyword> Hotels is the eighth largest in India in terms of chain affiliated hotel rooms inventory as of September 30, 2023. They operate hospitality assets under their own brands like The Park, The Park Collection, ‘Zone by The Park’, ‘Zone Connect by The Park’ and ‘Stop by Zone’. It develops upscale luxury boutiques as well as upper mid-scale hotels. They operate 30 hotels in 20 cities across India. The hotels are operated through direct ownership, long-term leases, operation and management agreements on a contractual basis using their brand on hotels constructed by third parties. “The company possesses a varied portfolio of hotels across India, including owned, leased, and managed properties strategically situated in both major metropolitan areas and emerging cities,” said an IPO note by <keyword id="20548750" type="General" weightage="20" keywordseo="anand-rathi" source="keywords">Anand Rathi</keyword>. They own over 1,300 rooms constituting 2.8% of the total inventory of hotel rooms owned by chained affiliated hotels across the country. The company was established over 55 years ago, with their first hotel The Park at the iconic Park Street in Kolkata. “The organization has established thriving hospitality brands by combining product innovation and exceptional service, aiming to engage customers with a varied and comprehensive range of offerings. We believe that the valuation of the company is fairly priced and recommend a ‘Subscribe-Long Term’ rating to the IPO,” said Anand Rathi.

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