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<ul><li>The <keyword id="10109919" type="UNKNOWN" weightage="20" keywordseo="Likhitha-Infrastructure-stocks">Likhitha Infrastructure stocks</keyword> listed at ₹130.10, is an upside of 8% to the revised IPO price band. </li><li>Within minutes after listing the shares gained over 5% of their value, and the shares were trading at ₹136.60 apiece at 10:10 am.</li><li>The total market cap of <keyword id="9987008" type="UNKNOWN" weightage="20" keywordseo="Likhitha-Infrastructure">Likhitha Infrastructure</keyword> rose to ₹260.47 crore at 10:10 am. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>It is a lacklustre debut for the ₹61.2 crore IPO of the Hyderabad-headquartered oil and gas pipeline infrastructure service provider Likhitha Infrastructure on the Indian stock-exchanges today. The stock, listed at ₹130.10, is an upside of 8% to the revised IPO price band set at ₹116-₹120 per share. However, within minutes after listing the shares gained over 5% of their value, and the shares were trading at ₹136.60 apiece at 10:10 am. The total market cap of Likhitha Infrastructure rose to ₹260.47 crore at 10:10 am. A total traded quantity of 1.57 lakh shares changed hands on BSE, amounting to a turnover of ₹2 crore. The company will deal with the symbol of ‘LIKHITHA’ on the Indian stock exchanges. Why did it fail to garner investors’ interest? The investor pessimism for its shares already reflects in the subscription number ahead of the listing. The company had to revise its price band from ₹117-₹120 to ₹116-₹120/share and extend the IPO by three days after receiving a weak response from Qualified Institutional Buyers (QIBs). The <keyword id="9987003" type="UNKNOWN" weightage="20" keywordseo="Likhitha-Infrastructure-IPO">Likhitha Infrastructure IPO</keyword> was subscribed nearly ten times on the final day of bidding than the whopping 157 times subscription of its other IPO peer Mazagon Dock. According to the stock-exchange data, the issue received bids for 48 million equity shares against an offer size of 5 million equity shares. And, analysts were already skeptical about the company’s listing after a subdued investor response. “Nothing much was left on the table at the issue price,” said Keshav Lahoti, Associate Equity Analyst, Angel Broking. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/infosys-to-reinstate-wage-hikes-promotions-and-hiring-will-impact-margins-over-the-next-six-months/articleshow/78660576.cms" data-type="tilCustomLink">Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months</a> <a href="https://www.businessinsider.in/stock-market/news/likhitha-infrastructure-shares-to-list-tomorrow-on-bse-and-nse/articleshow/78660431.cms" data-type="tilCustomLink">Likhitha Infrastructure trades at 13% grey market premium ahead of listing today </a>

Likhitha Infrastructure lists at 8% premium over the issue price

<ul><li>The company issued the IPO at a price band of ₹145, but it listed at ₹216.25, with an upside of 49%. </li><li>However, the share price of Mazagon Dock Shipbuilders lost nearly 13% in minutes after listing debut. </li><li>The issue was subscribed 157 times on the last day of bidding— securing the topmost position in the list of the successful IPOs in the current year</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The ₹444 crore initial public offering of the state-owned defence firm Mazagon Dock Shipbuilders made a lot of money for its IPO investors— the shares listed at a premium of 49% over the issue price band. However, in minutes after listing debut the shares lost over 13% and were trading at ₹189.50 a piece at 10:05 am. Mazagon Dock Shipbuilders total market cap rose to ₹3,777.65 crore at 10:05 am. A total traded quantity of 15.19 lakh shares changed hands on BSE amounting to a turnover of ₹29.34 crore. The company will trade with the symbol of ‘MAZDOCK’ on the Indian stock exchanges. The bumper listing was already on the cards! The Mumbai-based Mazagon Dock Shipbuilders is a wholly-owned Indian Government company, conferred with the ‘Miniratna-I’ status in 2006, by the Department of Public Enterprises. The company is engaged in the construction and repair of warships and submarines for the Indian Ministry of Defence for use by the Indian Navy and other vessels for commercial clients. The Mazagon Dock Shipbuilders IPO was one of the investors’ favourite picks during the IPO bonanza last month. The issue was subscribed 157 times on the last day of bidding, which is much higher than its other IPO peers— UTI AMC and Likhitha Infrastructure Limited, which clocked a tepid response from investors. The IPO secured the topmost position in the list of the successful IPOs in the current year in terms of <a href="https://www.chittorgarh.com/report/top_10_ipo_by_subscription_yearly/10/">subscription</a>. Given its healthy order book, stable business and a reasonable valuation, it was already expected to have a bumper listing. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-vedanta-wipro-rites-mazagon-dock-uti-amc-glenmark-pharma-and-others/articleshow/78612041.cms" data-type="tilCustomLink">Top stocks to watch — Vedanta, Wipro, RITES, Mazagon Dock, UTI AMC, Glenmark Pharma, and others</a> <a href="https://www.businessinsider.in/science/space/news/china-launches-earth-observation-satellite-amid-border-tensions-with-india/articleshow/78613147.cms" data-type="tilCustomLink">China launches Earth observation satellite amid border tensions with India</a>

Mazagon Dock Shipbuilders shares list at 49% premium over the issue price

Mumbai, Apr 17 () The issue price for the Sovereign Gold Bond has been fixed at Rs 4,639 per gram of the yellow metal, the Reserve Bank said in a statement on Friday. The Sovereign Gold Bond Scheme 2020-21-Series I will be opened for subscription from April 20 to 24, 2020. Earlier this week, the central bank had said the government will issue Sovereign Gold Bonds (SGBs) in six tranches beginning April 20 till September. Sovereign Gold Bond 2020-21 will be issued by the Reserve Bank of India (RBI) on behalf of the government. "The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period...works out to Rs 4,639 per gram of gold," the RBI said. It further said the government has also decided to offer a discount of Rs 50 per gram to those investors applying online and where payment against the application is made through digital mode. For such investors, the issue price of bond will be Rs 4,589 per gram of gold. The bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram and the tenor of the SGB will be eight years with exit option after fifth year to be exercised on the interest payment dates. The bonds are restricted for sale to resident individuals, HUFs, trusts, universities and charitable institutions. The minimum permissible investment will be 1 gram of gold and the maximum limit of subscription shall be 4 Kg for individuals, 4 Kg for HUFs and 20 Kg for trusts and similar entities per fiscal (April-March). The gold bond will be sold through banks (except small finance banks and payment banks), Stock Holding Corporation of India (SHCIL), designated post offices, and recognised stock exchanges (NSE and BSE). The sovereign gold bond scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings. NKD BAL ABMABM

Gold bond issue price fixed at Rs 4,639/gm: RBI

<ul><li>Shares of <keyword id="12289032" type="General" weightage="20" keywordseo="sjs-enterprises-ipo" source="Orion">SJS Enterprises IPO</keyword> listed at over 1% discount from its price band of ₹531-542 per share.</li><li>The IPO was subscribed 1.59 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹1,619 crore.</li></ul>Shares of SJS Enterprises IPO made a weak listing on National Stock Exchange (NSE) and BSE at over 1% discount from its price band of ₹531-542 per share. Post listing, the market capitalisation of the company stood at ₹1,619 crore, according to BSE data. The shares of SJS Enterprises were trading at ₹537, 0.98% lower at 10.02 a.m., on November 15. The grey market price of the stock had suggested a premium of ₹38 over the upper price band of ₹542. SJS Enterprises IPO received decent demand in subscription as it got subscribed 1.59 times in the three days of IPO bidding process. The issue was open for subscription between November 1 and November 3. SJS Enterprises, one of the leading players in the Indian decorative aesthetics products like decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes and many others. The IPO consisted of a pure offer for sale of ₹800 crore with ₹710 crore by Evergraph Holdings Pte -- subsidiary of private equity firm Everstone who invested in 2015 and ₹90 crore by KA Joseph, managing director of the company. It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-sigachi-industries-list-at-575-while-the-shares-were-allotted-at-163-per-share/articleshow/87708763.cms">Sigachi Industries more than triples money for IPO investors on listing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/policybazaar-starts-trading-at-1150-a-premium-of-17/articleshow/87708748.cms">PolicyBazaar starts trading at a premium of over 17%</a>

The shares of SJS Enterprises open 1% below the issue price

<ul><li><keyword id="413856" type="COMPANY" weightage="20" keywordseo="Kalyan-Jewellers">Kalyan Jewellers</keyword> made its debut on the National Stock Exchange (NSE) at ₹73.95.</li><li>This is a 15% discount to the issue price of ₹87 per share.</li><li>Analysts expect that most of the investors, who were allotted shares, are likely to sell on listing.</li></ul>Kalyan Jewellers, one of India’s leading jewellery brands, listed on the stock exchanges today at ₹73.95 — a 15% drop from its initial public offering (IPO) price of ₹87 per share. One of the factors that may have contributed to Kalyan’s discount to issue price is aggressive pricing. The company’s financials have been struggling for the past two financial years and jewellery is a sector that currently finds itself out of favour. The ₹1175 crore IPO saw muted interest only getting <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-kalyan-jewellers-ipo/articleshow/81626536.cms">subscribed to 2.61 times</a>. This doesn’t bode well for the company that regards Titan Company’s Tanishq as its key competitor in the market. Analysts <a href="https://www.financialexpress.com/market/ipo-news/kalyan-jewellers-ipo-listing-day-strategy-grey-market-premium-missing-sell-on-listing-or-hold-shares-for-long-term/2219933/">expect</a> that most of the investors, who were allotted shares, are likely to sell on listing. What has investors worried about Kalyan Jewellers? Kalyan Jewellers has a huge presence in India’s southern states. Overall, it has over 100 showrooms in 21 states and union territories across the country. Outside India, Kalyan has a foothold in the Middle East with 30 showrooms. But its financials, of late, were <a href="https://www.businessinsider.in/business/corporates/news/kalyan-jewellers-will-be-going-up-against-titan-but-remains-sceptical-jewellery-business-can-ever-fully-go-online/articleshow/81478749.cms">not so impressive</a>. It suffered setbacks in 2019 following cyclones and floods in southern states. And, when the pandemic hit, the company was unable to register positive cash inflows for nine months ending December 2020. While industry reports suggest that there may be an uptake in jewellery buying as shoppers redirect their funds from big, lavish venues to jewellery — there is still considerable uncertainty around the demand for gold as India sees a second wave of COVID-19 spreading across the country. Moreover, the executive director of Kalyan Jewellers — Ramesh Kalyanaraman — does not believe going digital will help the company. “I don’t see online replacing offline ever in our sector,” he told Business Insider in an interview. Unlike Kalyan, Titan took up digital solutions to boost demand during the pandemic as customers looked for contactless ways to buy jewellery. Nonetheless, Kalyan’s hyperlocal strategy has, so far, worked in its favour. Before the IPO opened up to the public, the Warburg Pincus-backed jewellery bigwig raised nearly ₹352 crore from 15 anchor investors including the Government of Singapore, Monetary Authority of Singapore, HDFC Life Insurance and BNP Paribas Arbitrage. The funds will be used for Kalyan’s working capital requirements and general corporate purpose.

Kalyan Jewellers makes a lacklustre debut, listing at 15% discount to issue price

Shares of <keyword id="11158922" type="COMPANY" weightage="20" keywordseo="powergrid-infrastructure-investment-trust">PowerGrid Infrastructure Investment Trust</keyword> listed with a <keyword id="47469" type="PERSON" weightage="20" keywordseo="premium">premium</keyword> of 4 per cent on Friday against its issue price of ₹100. The stock made its debut at ₹104, registering a gain of 4 per cent on the <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword>. It further jumped 4.97 per cent to ₹104.97 as the trade progressed. At the <keyword id="6354646" type="COMPANY" weightage="20" keywordseo="nse">NSE</keyword>, it listed at ₹104, with a premium of 4 per cent. Earlier this month, the initial public offer of PowerGrid Infrastructure Investment Trust was subscribed 4.83 times. Price range for the offer was at ₹99-100 per unit. PowerGrid Infrastructure Investment Trust (<keyword id="11158539" type="COMPANY" weightage="20" keywordseo="PowerGrid-InvIT">PowerGrid InvIT</keyword>) is owned by state-owned <keyword id="400999" type="COMPANY" weightage="20" keywordseo="PowerGrid-Corporation-of-India">PowerGrid Corporation of India</keyword>. <keyword id="6425787" type="COMPANY" weightage="20" keywordseo="InvITs">InvITs</keyword> are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/after-ditching-bitcoin-elon-musk-is-now-working-on-making-dogecoin-efficient/articleshow/82628521.cms" style="">After ditching Bitcoin, Elon Musk is now working on making Dogecoin efficient</a> <a href="https://www.businessinsider.in/cryptocurrency/news/four-reasons-why-cryptocurrency-ethereum-has-been-on-a-bull-run/articleshow/82606761.cms" style="">Four reasons why cryptocurrency Ethereum has been on a bull run</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-a-couple-from-chennai-has-come-up-with-this-innovation-of-a-surgical-mask-vending-machine-/articleshow/82605058.cms">Even small initiatives during a pandemic can help save a thousand lives, these people are doing their bit</a>

PowerGrid Infrastructure Investment lists at a premium of 4% against issue price of ₹100

New Delhi, Jan 15 () Bharti Airtel has announced allotment of 32.35 crore equity shares to eligible institutional buyers at an issue price of Rs 445 per share as part of USD 2 billion (over Rs 14,000 crore) qualified institutional placement that closed on Tuesday.
 The issue price was at a discount of 1.57 per cent to the stated floor price of Rs 452.09 per equity share.
 The company had embarked on a mega fund raising exercise, the proceeds of which will be used to pay the adjusted gross revenue (AGR) liability and invest in the network.
 Bharti Airtel has to pay nearly Rs 35,586 crore in additional statutory dues, after a Supreme Court ruling on AGR liabilities of telecom companies in October last year.
 Earlier this month, shareholders of Bharti Airtel had approved proposals to raise up to USD 2 billion (over Rs 14,000 crore) in equity and another USD 1 billion (around Rs 7,000 crore) in debt.
 Airtel has announced the closure of the issue period for the qualified institutional placement (QIP) and fixed the issue price at "Rs 445 per equity share which is at a discount of 1.57 per cent to the floor price of Rs 452.09 per equity share".
 As many as 32.35 crore equity shares are being allotted to eligible qualified institutional buyers, the company said in a regulatory filing. The special committee of directors for fund raising exercise also cleared the terms of foreign currency convertible bonds (FCCBs) including the issue price.
 "FCCBs due 2025, convertible into fully paid-up equity shares of face value of Rs 5 each of the company at a price of Rs 534 per conversion equity share to the initial purchasers subject to receipt of funds, satisfaction of other conditions precedent and settlement as per applicable laws and procedures and relevant agreements," the filing said. MBI ANS
ANS

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Likhitha Infrastructure lists at 8% premium over the issue price

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Mazagon Dock Shipbuilders shares list at 49% premium over the issue price

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Gold bond issue price fixed at Rs 4,639/gm: RBI

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The shares of SJS Enterprises open 1% below the issue price

Bhakti Makwana

Kalyan Jewellers makes a lacklustre debut, listing at 15% discount to issue price

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PowerGrid Infrastructure Investment lists at a premium of 4% against issue price of ₹100

PTI

Airtel special committee clears issue price, other modalities of USD 3 billion fund raising

PTI

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