<ul><li>Jyoti CNC IPO’s retail investor portion of the issue was subscribed 11x on the second day of the issue.</li><li>It’s a Gujarat based manufacturer of metal cutting computer numerical control (CNC) machines.</li><li>The entirely fresh issue intends to raise as much as ₹1,000 crore. </li></ul>The ₹1,000 crore initial public offer (IPO) of <keyword id="2201348" type="General" weightage="20" keywordseo="jyoti-cnc-automation" source="Orion">Jyoti CNC Automation</keyword> was subscribed 3.9 times the shares on offer, on the second day of the issue. The retail portion of the issue was subscribed 11 times over, while the non-institutional investor portion was subscribed 6.4 times. The company is a manufacturer of metal cutting computer numerical control (CNC) machines. It has raised ₹448 crore from 37 anchor investors ahead of opening the issue to the public. Some of its marquee investors are Nomura Funds Ireland, Goldman Sachs Funds, Bajaj Allianz Life Insurance Company, ICICI Prudential and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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;">Type of investor </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;">No of times subscribed </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;">0.22 </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;">6.49 </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;">11.08 </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;">Total </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;">3.92 </td></tr></tbody><tbody></tbody></table> Source: BSE Jyoti CNC Automation is the global leader in CNC machine manufacturing, commanding the third largest market share in India with 10% as of FY23. It’s the twelfth largest globally with 0.4% share in 2022. Some of its top clients include Space Applications Centre – ISRO, BrahMos, Turkish Aerospace, Tata Advanced System, Bharat Forge, Kalyani Technoforge and more. It has fixed a price band of ₹315-331 per equity share for its entirely fresh issue. Investors can bid for 45 equity shares and in multiples of 45 equity shares thereafter. The company intends to use proceeds from the issue towards working capital needs, loan payment, and for general corporate purposes. It has vertically integrated operations which they consider essential to their ability to provide technologically relevant and customized solutions. “Led by chairman and managing director, Parakramsinh Ghanshyamsinh Jadeja, their integrated approach across operations prioritizes customization, reduced delivery timelines, and robust after-sales support. Their pioneering '7th Sense' solution aligns with 'Industry 4.0', automating machine diagnostics for heightened productivity,” says a report by Ventura Securities. The 20-year old Gujarat based company has three facilities — two in Rajkot and one in Strasbourg, France, with a capacity of 4,400 machines per annum in India and 121 machines per annum in France. “We believe Jyoti CNC is poised to benefit from the ongoing capex cycle and should see healthy growth over the medium term owing to a strong order book,” says Indsec Securities which assigns a ‘subscribe’ rating to the IPO.

Jyoti CNC Automation IPO subscribed 3.9x on day 2

<ul><li>The stock listed at ₹433 as compared to its issue price of ₹331 per share.</li><li>Its market cap for the company is at ₹9,850 crore crore as per Bombay Stock Exchange. </li></ul><keyword id="20065270" type="General" weightage="20" keywordseo="jyoti-cnc-automation" source="keywords">Jyoti CNC Automation</keyword> debuted on the stock exchanges on Tuesday at a 12.3% premium in the morning trade. However, it later gained speed and closed its debut day with 30% listing gains on Tuesday. This is much higher than the grey market’s expectations of 13% listing gains. The stock closed at ₹433 which is ₹102 higher than the issue price of ₹331 per share. <keyword id="20052498" type="General" weightage="20" keywordseo="jyoti-cnc" source="keywords">Jyoti CNC</keyword>’s market cap is at ₹8,460 crore as per Bombay Stock Exchange. The ₹1,000 crore initial public offer (IPO) of the company was subscribed 41 times the shares on offer. The year of 2023 has been good market debuts with many stocks providing investors with <a href="https://www.businessinsider.in/stock-market/news/ipo-gold-rush-all-but-4-ipos-in-fy24-gave-positive-returns-on-listing/articleshow/104174040.cms">positive listing gains</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></colgroup><col /><col /><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;">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;">Gandhar Oil </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;">78% </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></table> The company is a manufacturer of metal cutting computer numerical control (<keyword id="20013268" type="General" weightage="20" keywordseo="cnc" source="keywords">CNC</keyword>) machines. It is a global leader in CNC machine manufacturing, commanding the third largest market share in India with 10% as of FY23. It’s the twelfth largest globally with 0.4% share in 2022. Some of its top clients include Space Applications Centre – ISRO, BrahMos, Turkish Aerospace, Tata Advanced System, Bharat Forge, <keyword id="20205862" type="General" weightage="20" keywordseo="kalyani-technoforge" source="keywords">Kalyani Technoforge</keyword> and more. It has vertically integrated operations which they consider essential to their ability to provide technologically relevant and customized solutions. “Led by chairman and managing director, Parakramsinh Ghanshyamsinh Jadeja, their integrated approach across operations prioritizes customization, reduced delivery timelines, and robust after-sales support. Their pioneering '7th Sense' solution aligns with 'Industry 4.0', automating machine diagnostics for heightened productivity,” says a report by Ventura Securities. “We believe <keyword id="19953183" type="General" weightage="20" keywordseo="jyoti" source="keywords">Jyoti</keyword> CNC is poised to benefit from the ongoing capex cycle and should see healthy growth over the medium term owing to a strong order book,” says Indsec Securities which assigns a ‘subscribe’ rating to the IPO. The 20-year old Gujarat based company has three facilities — two in Rajkot and one in Strasbourg, France, with a capacity of 4,400 machines per annum in India and 121 machines per annum in France.

Jyoti CNC Automation closes debut day with 30% listing gains

Gujarat-based <keyword id="20065270" type="General" weightage="80" keywordseo="jyoti-cnc-automation" source="keywords">Jyoti CNC Automation</keyword> on Thursday said it has fixed a price band of ₹315-331 per share for its initial public offering (<keyword id="19898327" type="General" weightage="80" keywordseo="ipo" source="keywords">IPO</keyword>). This will be the first public issue of 2024 on the main board of leading stock exchanges BSE and NSE. The IPO of <keyword id="20052498" type="General" weightage="80" keywordseo="jyoti-cnc" source="keywords">Jyoti CNC</keyword> will open for public subscription on January 9 and end on January 11. The anchor book of the offer will be opened for a day on January 8, the company announced. Investors can bid for a minimum of 45 equity shares and in multiples thereof, it said. The company is planning to list its shares for the second time in nearly 10 years. The IPO is entirely a fresh issue of equity shares worth up to ₹ 1,000 crore. The company has reserved 75 per cent of the issue size for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail individual investors. Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti <keyword id="20013268" type="General" weightage="100" keywordseo="cnc" source="keywords">CNC</keyword> Automation is a leading manufacturer of Computer Numerical Control (CNC) machines. Its customers include ISRO, BrahMos Aerospace Thiruvananthapuram Ltd, Turkish Aerospace, MBDA, <keyword id="20065527" type="General" weightage="50" keywordseo="uniparts-india" source="keywords">Uniparts India</keyword>, Tata Advanced System, <keyword id="20065528" type="General" weightage="50" keywordseo="tata-sikorsky-aerospace" source="keywords">Tata Sikorsky Aerospace</keyword>, Bharat Forge, Kalyani Technoforge, and Bosch Ltd. As of September 2023, the company had an order book of Rs 3,315.33 crore. Equirus Capital, ICICI Securities, and SBI Capital Markets are the book running lead managers to the issue. Equity shares of the company will be listed on BSE and NSE. In 2013, Jyoti CNC had filed draft papers with Sebi to mop up funds through an IPO but later shelved its plan. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-13-vs-note-13-pro-vs-note-13-pro-plus-redmi-note-13-series-compared/slidelist/106544325.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-13-vs-note-13-pro-vs-note-13-pro-plus-redmi-note-13-series-compared/slidelist/106544325.cms" target="_blank">Redmi Note 13 series: Base vs Pro vs Pro Plus compared</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-review-top-end-camera-centric-smartphone-with-sleek-design/articleshow/106539033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-review-top-end-camera-centric-smartphone-with-sleek-design/articleshow/106539033.cms" target="_blank">Vivo X100 review – Top-end camera centric smartphone with sleek design</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-and-x100-pro-camera-centric-smartphones-with-up-to-5400mah-battery-hit-indian-market/articleshow/106537175.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-and-x100-pro-camera-centric-smartphones-with-up-to-5400mah-battery-hit-indian-market/articleshow/106537175.cms" target="_blank">Vivo X100 and X100 Pro camera centric smartphones with up to 5,400mAh battery hit Indian market</a>

Jyoti CNC Automation sets IPO price band at ₹315-331 per share

<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 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></colgroup><col /><col /><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>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></colgroup><col /><col /><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 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></colgroup><col /><col /><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 ₹465 as compared to the issue price of ₹418.</li><li>The grey market had been expecting 8% listing gains from the stock.</li><li>Its market capitalization is at ₹3,201 crore as per Bombay Stock Exchange. </li></ul>Medi Assist Healthcare debuted on the stock exchanges at a 11.2% premium on Tuesday. The grey market was expecting 8% listing gains from the stock. The stock listed at ₹465 as compared to the issue price of ₹418 in the morning. Its market capitalization is at ₹3,201 crore as per Bombay Stock Exchange. It held on to its gains even as the stock market saw a volatile trading session with Sensex shedding over a 1,000 points and Nifty down by 333 points. The ₹1,171 crore issue was subscribed 16 times over the shares on offer. It also raised as much as ₹351 crore from anchor investors ahead of opening the issue to the public. Some of its anchor investors include <keyword id="20199580" type="General" weightage="20" keywordseo="nomura-trust" source="keywords">Nomura Trust</keyword>, <keyword id="20199579" type="General" weightage="20" keywordseo="pinebridge-global-funds" source="keywords">Pinebridge Global Funds</keyword>, <keyword id="20199576" type="General" weightage="20" keywordseo="troo-capital" source="keywords">Troo Capital</keyword>, <keyword id="20199577" type="General" weightage="20" keywordseo="tata-mutual-fund" source="keywords">Tata Mutual Fund</keyword>, <keyword id="20199578" type="General" weightage="20" keywordseo="sundaram-mutual-fund" source="keywords">Sundaram Mutual Fund</keyword> and more. In 2023, many new debutants on the stock exchanges provided positive listing gains. 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></colgroup><col /><col /><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;">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></tbody><tbody></tbody></table> Medi Assist’s issue is a complete offer for sale (OFS) with no fresh issue. It claims to be India’s largest health benefits administrator in terms of revenues as of FY21 to FY23. Its primary clients are insurance companies; but it also serves as an intermediary between general and health insurance companies and the insured members, insurance companies and healthcare providers (such as hospitals), and the Government and beneficiaries of public health schemes. As of FY22, its total revenues accounted for 24.89% of the Indian health benefits administration industry revenue, as per a Frost &amp; Sullivan report. It’s also the largest health benefits administrator in India in terms of premium under management for retail and group policies, with a market share of 14.83% of the retail health insurance market. The company has no peers listed in the market. In FY23, its restated consolidated net profit went by 18.7% to ₹75.3 crore. Its revenues went up by 26% to ₹518.9 crore.

Medi Assist Healthcare closes debut day with 11% listing gains

<ul><li>The stock listed at ₹207 as compared to its issue price of ₹230, on debut day.</li><li>Its market capitalisation is at ₹1,989 crore, according to Bombay Stock Exchange. </li></ul>Air conditioner manufacturer <keyword id="20187390" type="General" weightage="20" keywordseo="epack-durable" source="keywords">EPACK Durable</keyword> fell 9.7% below its issue price on debut day on Tuesday. The stock closed at ₹207 as compared to its issue price of ₹230. Its market capitalisation is at ₹2,155 crore according to <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword>. The benchmark indices too traded in the red on Tuesday, as Sensex shed over 800 50 points, and Nifty fell by 205 points. The grey market was expecting 2% listing gains from the stock. “EPACK listing was below our expectations due to market sentiments. We continue to remain positive on the company business model. EPACK holds a strategic long standing relationship position in the growing Indian Refrigeration and Air conditioning (RAC) industry and also extended relationships provide opportunities for cross-selling,” said Prashanth Tapse, senior VP of research at Mehta Equities. He recommends investors to hold on to the stock with a long-term perspective. The ₹640 crore initial public offer (IPO) was subscribed 16 times over the shares on offer. It has mobilized ₹192 crore from anchor investors ahead of its IPO from investors like <keyword id="19936607" type="General" weightage="20" keywordseo="societe-generale" source="keywords">Societe Generale</keyword>, Copthall Mauritius Investment, SBI Life Insurance Company and more. The year of 2023 has been good market debuts with many stocks providing investors with <a href="https://www.businessinsider.in/stock-market/news/ipo-gold-rush-all-but-4-ipos-in-fy24-gave-positive-returns-on-listing/articleshow/104174040.cms">positive listing gains</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></colgroup><col /><col /><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;">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></table> The issue is a combination of a fresh issue and an offer for sale. It intends to use net proceeds from the fresh issue as capex for new or expansion of manufacturing facilities, loan payment, and general corporate purposes. The company is an outsourced design manufacturer of room air conditioners. Some of its customers include <keyword id="19906109" type="General" weightage="20" keywordseo="voltas" source="keywords">Voltas</keyword>, Blue Star, Daikin, Haier, Godrej and Boyce and more. It is the second biggest original design manufacturer (<keyword id="20382044" type="General" weightage="20" keywordseo="odm" source="keywords">ODM</keyword>) of room air conditioners in India, based on the number of units produced in FY23, as per a Frost &amp; Sullivan report, it says in the DRHP. It has three manufacturing facilities in Dehradun, Uttarakhand; Bhiwadi in Rajasthan; and Sricity in Andhra Pradesh. Apart from indoor units, outdoor units and window air conditioners; it manufactures mixer grinders, water dispensers. Moreover, it aims to expand its portfolios to other consumer goods like hair dryers, kitchen chimneys, domestic air coolers, tower fans and more. “EPACK Durable has a 24% market share in terms of domestically manufactured units by ODM in FY23. The plants are vertically integrated and automated would improve the margins going forward. The increase in wallet share from existing customers through cross-selling and expanding the customer base will increase the business going forward,” said a note by Arihant Capital which gave it a ‘subscribe for long-term’ rating.

EPACK Durable falls 9.7% below its issue price on debut day

<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></colgroup><col /><col /><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.

Apeejay Surrendra Park Hotels closes 31% above its issue price on debut

<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></colgroup><col /><col /><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

Ahmedabad, Apr 24 () Gujarat Chief Minister VijayRupani on Friday said his government was working proactivelyto contain the spread of the coronavirus with aggressivetesting, and claimed members of the Tablighi Jamaat whoreturned from a gathering in Delhi last month had caused theCOVID-19 numbers to shoot up.The state has 2,815 COVID-19 cases, and 127 peoplehave died of the infection so far."There has been a rise in cases, especially inAhmedabad, Surat and Vadodara. Eighty per cent of the casesare from these three cities, with Ahmedabad accounting for 60per cent.The higher number of cases in Gujarat is due toaggressive testing," Rupani said.He said his government had quarantined 6,000 peoplewho had come from abroad in March."But the cases increased after Tablighi Jamaat membersmet in Delhi last month and then spread the virus to Gujaratand rest of the country," he added.The Centre on Friday said its teams would visithotpsots like Ahmedabad and Surat in the state to monitorefforts to control the outbreak."The state has proactively made arrangements to fightCOVID-19. In the initial stage, we had 9,500 beds but now weare working to increase that capacity to 25,000. We do nothave any problems as far as ventilators, N-95 masks andmedicines are concerned as all these things items aremanufactured in Gujarat. We bought around 200 ventilators froma Rajkot manufacturer called Jyoti CNC," Rupani said.He added that 80 per cent of the patients areasymptomatic, while the death rate due to the infection isthree per cent."People are asking why so many people have died inGujarat. That is because those who died had comorbidities likehigh blood pressure, diabetes, and one was even suffering fromcancer," Rupani said.Earlier in the day, Ahmedabad Municipal CommissionerVijay Nehra had said that the number of COVID-19 patients inthe city may reach eight lakh by the end of May if the currentfour-day period of doubling of cases continued. PDBNM BNM

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