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<ul><li><keyword id="5871389" type="General" weightage="100" keywordseo="motisons-jewellers" source="Orion">Motisons Jewellers</keyword> is expected to announce its share allotment status on Thursday, December 21.</li><li>The shares of Motisons Jewellers were subscribed 159.21 times.</li><li>The shares are expected to be listed on the stock exchanges on December 22.</li></ul> Jaipur-based Motisons Jewellers, jewellery maker that sells gold, diamond, kundan jewellery, silver, platinum and other metals is expected to announce the allotment status of its initial public offering (IPO) on Thursday, December 21. The <keyword id="16939610" type="General" weightage="20" keywordseo="motisons-jewellers-ipo" source="Orion">Motisons Jewellers IPO</keyword> opened on December 18 and closed on December 20. The price band for the IPO was ₹52 to ₹55 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Motisons Jewellers IPO was subscribed 159.21 times, receiving bids for 332.29 crore equity shares against 2.09 crore shares on offer. While the qualified institutional buyer portion was subscribed 157.40 times, the non-institutional investors portion was subscribed 233.80 times. The retail portion also witnessed excellent participation and was subscribed 121.56 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Motisons Jewellers are currently commanding a grey market premium (GMP) of ₹100 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="19884006" type="General" weightage="20" keywordseo="motisons-jewellers-ipo-allotment" source="Orion">Motisons Jewellers IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Motisons Jewellers’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</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 Motisons Jewellers IPO allotment 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 ‘Motisons Jewellers’ 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="Motisons Jewellers IPO listing date" comment="subhead" text="Motisons Jewellers IPO listing date">Motisons Jewellers IPO listing date</cmsannotation> The shares of Motisons Jewellers will be listed on the stock exchanges on December 22. SEE ALSO: <a href="https://www.businessinsider.in/sports/news/most-expensive-players-in-ipl-till-ipl-2024/slidelist/106147649.cms">Mitchell Starc to Yuvraj Singh, the most expensive players in IPL history</a> <a href="https://www.businessinsider.in/stock-market/news/doms-industries-lists-at-over-77-premium-exceeding-grey-market-expectations/articleshow/106142041.cms">Doms Industries lists at over 77% premium exceeding grey market expectations</a> <a href="https://www.businessinsider.in/tech/apps/news/list-of-features-introduced-by-whatsapp-in-2023/articleshow/106141000.cms">Multi-device support to chat lock – key features introduced by WhatsApp in 2023</a>

Motisons Jewellers IPO allotment – How to check allotment, GMP, listing date and more

Motisons Jewellers IPO at a glance – Price band to risk factors

<ul><li>The initial public offer was subscribed 15x times the shares on offer on day 1.</li><li>NII portion of the IPO was subscribed 13x, retail investors portion subscribed 22X.</li><li>The issue’s proceeds earmarked to repay loans, working capital, general corporate purposes and strategic initiatives.</li></ul>The initial public offer of Jaipur-based <keyword id="5871389" type="General" weightage="20" keywordseo="motisons-jewellers" source="Orion">Motisons Jewellers</keyword> was lapped up by investors within an hour of opening on Monday. The ₹151.09 crore issue was subscribed 15 times the shares on offer on the first day. The interest is reflective of that of the grey market, which expects a 182% listing gain. The non-institutional investor (NII) portion was subscribed 13x, while the retail investor portion was subscribed 22x. The company has raised ₹33 crore in its pre-IPO funding round from family offices and other investors. The entirely fresh issue has set a price band of ₹52-55 per equity share. The lot size is 250 equity shares, and in multiples of 250 thereafter. The issue will close on December 20. The company intends to utilise the net proceeds to repay existing borrowings, towards working capital, general corporate purposes and strategic initiatives. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">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;">0.08 </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;">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;">13.82 </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;">22.24 </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;">15.02 </td></tr></tbody></table>Source: BSE ‘Regional player with strong track record’ Motisons Jewellers is a well known jewellery brand for over 20 years. They started small in Jaipur's Johri Bazaar, but have grown into a brand with stores across Rajasthan. Their product line spans traditional, contemporary, and fusion designs, catering to various jewellery preferences and occasions. This includes jewellery suitable for weddings, festivals, daily wear across all age groups and genders, and covers a diverse price spectrum. “Motisons Jewellers is a regional player with a solid track record of two decades. The company offers around 300,000 designs in gold, diamond and other jewellery across different price points. The growth in Indian jewellery has been driven by rising middle class population and sharp increase in disposable income amongst youth,” said a report by Indsec, which assigns it a ‘subscribe for long term’ rating. The company heavily relies on third-party suppliers for product provision, and the inability to establish or maintain formal agreements with these entities could pose significant risks. Disruptions in the production or manufacturing facilities of these third parties, along with their supply chain arrangements or failure to meet quality standards, might adversely impact the company’s reputation, business operations, and financial standing. Previously, its promoters, Sanjay Chhabra and Sandeep Chhabra, were involved in legal proceedings initiated by an investigation agency concerning betting in Indian Premier League cricket matches. Although they have been formally cleared of these charges, any potential reopening of these matters could potentially harm the company’s business and reputation.

Motisons Jewellers subscribed 15x on day 1 with outsized retail interest

<ul><li>The IPO is set to open for subscription on December 18 and close on December 20. </li><li>The IPO comprises an entirely fresh issue of up to 2,74,71,000 equity shares. </li><li>Net proceeds will be used to repay existing borrowings, among other things. </li></ul><keyword id="5871389" type="General" weightage="20" keywordseo="motisons-jewellers" source="Orion">Motisons Jewellers</keyword> has set a price range of ₹52 to ₹55 per equity share for its inaugural initial public offering (IPO). The IPO is set to open for subscription on Monday, December 18, 2023, and will close on Wednesday, December 20, 2023. Investors can bid for a minimum of 250 equity shares, and in multiples of 250 thereafter. This public issue entails equity shares with a face value of ₹10 per equity share and comprises an entirely fresh issue of up to 2,74,71,000 equity shares. There will be no offer for sale (OFS) component. The management of Motisons Jewellers is helmed by second-generation entrepreneurs, namely Sandeep Chhabra, the Chairman and Whole Time Director, and Sanjay Chhabra, the Managing Director. The company intends to utilise the net proceeds from the fresh issue for specific objectives, including the repayment of existing borrowings obtained from scheduled commercial banks. Additionally, these funds will be allocated towards meeting the working capital needs of the company. The remainder will be earmarked for general corporate purposes, contributing to various operational facets and strategic initiatives. Motisons Jewellers is a well known jewellery brand for over 20 years. They started small in Jaipur's Johri Bazaar, but have grown into a brand with stores across Rajasthan. Their product line spans traditional, contemporary, and fusion designs, catering to various jewellery preferences and occasions. This includes jewellery suitable for weddings, festivals, daily wear across all age groups and genders, and covers a diverse price spectrum. Financials and risk factors Here is a snapshot of the financials of the company. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#f7fafc;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations (in ₹/lakh) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">36,619.61 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">31,433.01 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">21,304.01 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#ffffff;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit* (in ₹/lakh) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,991.92 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,998.96 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,306.59 </td></tr></tbody></table> * Before tax and extraordinary items However, investors should be aware of risk factors as listed in the draft red herring prospectus (DRHP). The company heavily relies on third-party suppliers for product provision, and the inability to establish or maintain formal agreements with these entities could pose significant risks. Disruptions in the production or manufacturing facilities of these third parties, along with their supply chain arrangements or failure to meet quality standards, might adversely impact the company’s reputation, business operations, and financial standing. Previously, the Promoters, Sanjay Chhabra and Sandeep Chhabra, were involved in legal proceedings initiated by an investigation agency concerning betting in Indian Premier League cricket matches. Although they have been formally cleared of these charges, any potential reopening of these matters could potentially harm the company’s business and reputation. Further, among the promoters and members of the promoter group, there are ongoing legal proceedings involving SEBI and other regulatory bodies. If SEBI or any regulatory authority were to issue adverse orders, such as penalties or debarring the mentioned promoters or members of the promoter group from accessing the capital market, it could significantly impact the company’s business operations and reputation.

Motisons Jewellers IPO opens on Dec 18, price band set at ₹52-55/sh

<ul><li>As many as eight IPOs are expected to open this week, intending to raise over ₹4,228 crore.</li><li>The grey market expects five of the eight stocks to give over 40% listing gains.</li><li>Doms, Inox and India Shelter Finance opened last week and received stellar response. </li></ul>It’s the week where eight companies are hitting the primary market with their share offerings. These initial public offers (IPOs) are looking to raise over ₹4,228 crore. While none of them match the size of fundraising the week Tata Tech opened in, the grey market is the most bullish as it’s ever been. The grey market expects five of the eight stocks to give over 40% listing gains. Moreover, it’s placing a multibagger-like bet on Jaipur-based Motison Jewellers. As expected, this issue was subscribed within an hour of opening. It was subscribed by 15x on the very first day, with outsized interest from retail investors. The other two issues that opened on Monday – Muthoot and Suraj were not fully subscribed on the first day. But, both their retail books were fully subscribed, showing that investors are ready to place their bets on the companies. Two more IPOs are opening on Tuesday – Happy Forgings and Credo Brands. They raised ₹303 crore and ₹165 crore from anchor investors on Monday evening, respectively. And all of them are subscribed twice over on the first day of the issue. IPO subscription details <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;">Name </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;">Issue Size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription details </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;">GMP </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;">Motisons Jewellers </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;">₹151.09 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51.5x on day 2 </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;">182% </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;">Muthoot Microfin </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;">₹960 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.83x on day 2 </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;">Suraj Estate Developers </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;">₹400 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.42x on day 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Happy Forgings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,008.59 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.32x on day 2 </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;">53% </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;">Credo Brands </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;">₹549.78 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.09x on day 1 </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;">45% </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;">RBZ Jewellers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.28 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.28x on day 1 </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;">NA </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;">₹740 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </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;">72% </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;">₹320 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </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;">47% </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 Amount </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;">₹4,228 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr></tbody></table> Listing gains in focus this week The IPOs that opened last week, Doms, Inox India and India Shelter Finance also received overwhelming response. Pencil maker Doms was subscribed 93 times the shares on offer. Inox was subscribed 61 times, and India Shelter Finance was subscribed 36 times. Investors bid for the issues enthusiastically, with the retail portion being subscribed around 10x or more. As benchmark indices scale new highs, most of these fresh debuts are expected to provide good listing gains too – all of them over 30%. “A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers,” said Mahavir Lunawat, managing director, Pantomath Capital Advisors. IPOs opened last week <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;">Name </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;">Issue Size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription details </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;">GMP </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;">₹1,200 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">93x </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;">67% </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;">India Shelter Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,200 cr </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;">36.6x </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Inox India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,459.32 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61x </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;">83% </td></tr></tbody><tbody></tbody></table> As of now, December IPOs aim to raise over ₹8,000 crore. Going into the new year too, the IPO season is expected to remain busy, and go on until the general elections in May next year. “Markets are likely to witness a robust capital raise next year as well. There are more than 65 IPO documents filed with Sebi. Of these, 25 have already received Sebi nod,” said Lunawat.

The IPO Rush: Grey market stays bullish, as retail investors can’t get enough

The capital generated through mainboard <keyword id="19898327" type="General" weightage="80" keywordseo="ipo" source="keywords">IPO</keyword>s dipped slightly to just over Rs 52,000 crore in 2023 amid global volatility driven by rising interest rates and geopolitical risks, while the number of issues rose. Experts maintain a strong bullish outlook on the IPO market for 2024. Excluding LIC's blockbuster maiden public issue of Rs 20,557 crore in 2022, initial public offering (IPO) collection actually increased by 36 per cent this year. Notably, mid and small-cap companies were in flavor this year, given the considerable tailwind in the markets. The market environment for IPOs has been extremely robust in 2023, though the start of the year was tepid due to global headwinds. "A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers. Another strong pillar of the Indian market ecosystem is the robust yet efficient regulatory framework," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors. V Prashant Rao, Director &amp; Head - ECM, Investment Banking, Anand Rathi Advisors, believes that the momentum of 2023 will roll over to 2024 and that could be a golden period for Indian primary markets. "We hold a strong bullish outlook on the IPO market in 2024. This optimism is buoyed by robust domestic and foreign investments, driven by superior growth prospects of the Indian markets. The inflows are expected to gain even more momentum once the uncertainties related to the elections are resolved," said Neha Agarwal - MD &amp; Head, Equity Capital Markets, <keyword id="19930937" type="General" weightage="50" keywordseo="jm-financial" source="keywords">JM Financial</keyword>. Around 24 companies, which have already received clearance from the markets regulator Sebi but are yet to launch their IPOs, are looking to raise over Rs 26,000 crore. Add to this, 32 more companies have filed their draft papers with Sebi and are awaiting clearances to mobilise more than Rs 35,000 crore, according to data provided by <keyword id="19930934" type="General" weightage="50" keywordseo="prime-database" source="keywords">Prime Database</keyword>. Going by the industry data, as many as 58 maiden public issues have been floated this year to raise Rs 52,637 crore, including Rs 3,200-crore IPO of Nexus Select Trust REIT. The fund mobilization in 2023 was lower than 40 companies raising Rs 59,302 crore last year. This was largely due to the Rs 20,557-crore LIC issue, which constituted as much as 35 per cent of the total amount raised during 2022. Before that, 63 companies had mobilized Rs 1.2 lakh crore through the initial share sales in 2021, which was the best IPO year in two decades. This fundraising was driven by excessive liquidity and increased retail investor participation, which spurred a persistent euphoria in the primary market. In the past three years, more than 150 mainboard IPOs have come for listing. "Despite high global volatility due to rising interest rates and geopolitical risks, 2023 was a very good year for Indian IPO markets," JM Financial's Agarwal said. Of the total 58 issues, 38 were floated during September and December. The big size issues were missing in 2023 with an average ticket size of Rs 865 crore. The same was the case last year too. Except for LIC and Delhivery, the majority of the IPOs were in the sub-Rs 1,500 crore IPO category. Mankind Pharma IPO (Rs 4,326 crore) was the largest issue of 2023, followed by <keyword id="19930935" type="General" weightage="50" keywordseo="tata-technologies" source="keywords">Tata Technologies</keyword> (Rs 3,042 crore), JSW Infrastructure (Rs 2,800 crore), RK Label (Rs 1,964 crore), and Cello World (Rs 1,900). The smallest IPO in the period was <keyword id="19930936" type="General" weightage="50" keywordseo="plaza-wires" source="keywords">Plaza Wires</keyword>, which raised Rs 67 crore. "With the markets showing considerable tailwinds, the mid and small-cap companies are in flavour and will continue to rule the roost," Anand Rathi Advisors' Rao said. Going public provides companies with extra funds for expansion, working capital, and debt repayment. It also boosts the company's visibility, attracting more business opportunities. Further, long-time investors often see the IPO as an exit strategy. Interestingly, the IPO subscription ratio has been on the higher side this year, with some of the issues, including <keyword id="19904719" type="General" weightage="50" keywordseo="motisons-jewellers" source="keywords">Motisons Jewellers</keyword>, Plaza Wires, Utkarsh Small Finance Bank and ideaForge Technology getting subscribed more than 100 times. The huge interest in IPO launches translated into listing gains as well. Of the companies listed this year, 47 companies are trading above their issue price and only four firms are trading below their issue price. Some of the firms gave positive gains ranging from 0.25 per cent to 228 per cent. Sectors such as industrial, consumer discretionary, and healthcare continued to drive the IPO market. These sectors collectively cumulated to more than 50 per cent in terms of both the number of issues and the funds garnered. Additionally, technology and finance made significant contributions. Apart from main-board IPOs, a spate of public offers was seen on the SME segment. A total of 175 Small and medium enterprises (SMEs) collected a record Rs 4,545 crore through the initial share sales this year, as compared to 109 such firms that collected Rs 1,875 crore in 2022. Before that, SME IPOs had garnered Rs 746 crore in 2021. Interestingly, the magnitude of subscription rates in a dozen of companies was more than 300 times and around 51 companies witnessed subscription rates of more than 100 times. Further, the SME IPO index provided investors with a staggering 95 per cent return, FYERS Research said in its report. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-mobile-phones-in-india-in-2024/slidelist/106244996.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-mobile-phones-in-india-in-2024/slidelist/106244996.cms" target="_blank">Apple vs Samsung vs OnePlus and more – Upcoming smartphones launching in India in 2024</a><a href="https://www.businessinsider.in/business/webstories/top-10-richest-people-in-the-world-in-2023/slidelist/106204146.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/top-10-richest-people-in-the-world-in-2023/slidelist/106204146.cms" target="_blank">Elon Musk to Warren Buffett – the top 10 richest people in the world</a><a href="https://www.businessinsider.in/tech/mobile/webstories/redmi-note-12-to-moto-g84-the-most-popular-smartphones-in-2023-under-20000/slidelist/106183118.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/redmi-note-12-to-moto-g84-the-most-popular-smartphones-in-2023-under-20000/slidelist/106183118.cms" target="_blank">Redmi Note 12 to Moto G84 – The most popular smartphones in 2023 under ₹20,000</a>

Main-board IPOs weather global headwinds, collect Rs 52,000-cr in 2023

New Delhi, <keyword id="703174" type="General" weightage="20" keywordseo="Samhi-Hotels" source="Orion">Samhi Hotels</keyword> and Jaipur-based retail jewellery company <keyword id="5871389" type="General" weightage="20" keywordseo="Motisons-Jewellers" source="Orion">Motisons Jewellers</keyword> have received capital markets regulator Sebi's go-ahead to raise funds through an initial public offering. The two firms had re-filed their preliminary papers with Sebi in March this year, and obtained its observation letters during August 28-31, an update with Sebi showed on Tuesday. In Sebi's parlance, its observation implies its go-ahead to launch the initial share sale. As per the draft papers, Samhi Hotels proposed an IPO comprising a fresh issue of equity shares worth Rs 1,000 crore and an Offer For Sale (OFS) of 90 lakh equity shares by existing shareholders. The OFS consists of the sale of 42.36 lakh equity shares by Blue Chandra Pte Ltd, up to 24.78 lakh equity shares by Goldman Sachs Investments Holdings (Asia) Ltd, up to 15.47 lakh equity shares by GTI Capital Alpha Pvt Ltd, and up to 7.39 lakh equity shares by International Finance Corporation. It is a partial exit by the existing shareholders to meet the listing regulations. Earlier, the company filed its IPO papers with Sebi in September 2019 and had obtained the markets regulator's approval in November 2019, to float the initial share sale but the company did not go ahead with the launch. The Gurguram-based company will utilise net proceeds of the fresh issue to the tune of Rs 750 crore towards payment of debt and for general corporate purposes. Samhi has a portfolio of 3,839-key rooms spread across 25 operating hotels in 12 of India's major urban consumer hubs, including Bengaluru, Hyderabad, National Capital Region (NCR), Pune, Chennai, and Ahmedabad, as of February 28, 2023. As of February 2023, it is the largest owner of Fairfield by Marriott and Holiday Inn Express brands in India. It operates under long-term management contracts with global hotel operators like Marriott, Hyatt, and IHG. The IPO of Jaipur-based jewellery retail player Motisons Jewellers comprises fresh issuance of 3.34 crore equity shares and there is no OFS component. The company will utilise the net proceeds from the issue towards repayment of existing borrowings availed by them from scheduled commercial banks, funding the working capital requirements and general corporate purposes. The jewellery maker had filed preliminary IPO papers with the capital markets watchdog in September 2022. However, the regulator returned the draft papers in December. Shares of both companies will be listed on the stock exchanges -- NSE and BSE.

Samhi Hotels, Motisons Jewellers get Sebi nod to float IPO

<ul><li>As many as eight IPOs are hitting Dalal Street this week, intending to raise over ₹4,228 crore.</li><li>The grey market expects five of the eight stocks to give over 40% listing gains.</li><li>Doms, Inox and India Shelter Finance opened last week and received stellar response. </li></ul> It’s the week where eight companies are hitting the primary market with their share offerings. These initial public offers (IPOs) are looking to raise over ₹4,228 crore. While none of them match the size of fundraising the week Tata Tech opened in, the grey market is the most bullish as it’s ever been. The grey market expects five of the eight stocks to give over 40% listing gains. Moreover, it’s placing a multibagger-like bet on Jaipur-based Motison Jewellers. As expected, this issue was subscribed within an hour of opening. It was subscribed by 15x on the very first day, with outsized interest from retail investors. The other two issues that opened on Monday – <keyword id="6631254" type="General" weightage="20" keywordseo="muthoot" source="Orion">Muthoot</keyword> and Suraj were not fully subscribed on the first day. However, both their retail books were fully subscribed, showing that investors are ready to place their bets on the companies. Two more IPOs are opened on Tuesday – <keyword id="6963407" type="General" weightage="20" keywordseo="happy-forgings" source="Orion">Happy Forgings</keyword> and Credo Brands. They raised ₹303 crore and ₹165 crore from anchor investors on Monday evening, respectively. And all of them are subscribed twice over on the first day of the issue. <keyword id="6354763" type="General" weightage="100" keywordseo="ipo" source="Orion">IPO</keyword> subscription details <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;">Name </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;">Issue Size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription details </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;">GMP </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;">Motisons Jewellers </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;">₹151.09 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51.5x on day 2 </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;">182% </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;">Muthoot Microfin </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;">₹960 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.83x on day 2 </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;">Suraj Estate Developers </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;">₹400 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.42x on day 2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Happy Forgings </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,008.59 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.32x on day 2 </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;">53% </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;">Credo Brands </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;">₹549.78 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.09x on day 1 </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;">45% </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;">RBZ Jewellers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.28 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.28x on day 1 </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;">NA </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;">₹740 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </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;">72% </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;">₹320 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </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;">47% </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 Amount </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;">₹4,228 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Listing gains in focus this week The IPOs that opened last week, Doms, Inox India and India Shelter Finance also received overwhelming response. Pencil maker Doms was subscribed 93 times the shares on offer. Inox was subscribed 61 times, and India Shelter Finance was subscribed 36 times. Investors bid for the issues enthusiastically, with the retail portion being subscribed around 10x or more. As benchmark indices scale new highs, most of these fresh debuts are expected to provide good listing gains too – all of them over 30%. “A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers,” said Mahavir Lunawat, managing director, Pantomath Capital Advisors. IPOs opened last week <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;">Name </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;">Issue Size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription details </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;">GMP </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;">₹1,200 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">93x </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;">67% </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;">India Shelter Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,200 cr </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;">36.6x </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Inox India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,459.32 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61x </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;">83% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> As of now, December IPOs aim to raise over ₹8,000 crore. Going into the new year too, the IPO season is expected to remain busy, and go on until the general elections in May next year. “Markets are likely to witness a robust capital raise next year as well. There are more than 65 IPO documents filed with Sebi. Of these, 25 have already received Sebi nod,” said Lunawat.

<ul><li><keyword id="90050" type="General" weightage="100" keywordseo="inox-india" source="Orion">Inox India</keyword> is expected to announce its share allotment status on Tuesday, December 19.</li><li>The shares of Inox India were subscribed 61.06 times.</li><li>The shares are expected to be listed on the stock exchanges on December 21.</li></ul> Vadodara-based Inox India, which manufactures and supplies cryogenic equipment is expected to announce the allotment status of its initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) on Tuesday, December 19. The <keyword id="18590862" type="General" weightage="20" keywordseo="Inox-India-IPO" source="Orion">Inox India IPO</keyword> opened on December 14 and closed on December 18. The price band for the IPO was ₹627 to ₹660 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the Inox India IPO was subscribed 61.06 times, receiving bids for 94.53 crore equity shares against 1.55 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 147.80 times, the non-institutional investors portion was subscribed 53.03 times. The retail portion witnessed good participation and was subscribed 14.96 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Inox India are currently commanding a grey market premium (GMP) of ₹550 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="19865761" type="General" weightage="20" keywordseo="Inox-India-IPO-allotment" source="Orion">Inox India IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Company Selection’ and then select ‘Inox India’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</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 Inox India <keyword id="35223" type="General" weightage="20" keywordseo="ipo-allotment" source="Orion">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 ‘Inox India’ 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="Inox India listing date" comment="subhead" text="Inox India listing date">Inox India listing date</cmsannotation> The shares of Inox India will be listed on the stock exchanges on December 21. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/motisons-jewellers-ipo-at-a-glance-price-band-to-risk-factors/slidelist/106081719.cms">Motisons Jewellers IPO at a glance – Price band to risk factors</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-and-suvs-in-india-in-2023/slidelist/106092280.cms">From WagonR to Nexon to Creta – top selling cars in India in 2023</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-hyundai-mahindra-and-other-car-companies-offering-big-discounts-in-december-2023-month/articleshow/105809628.cms">Maruti Suzuki to Hyundai – car makers offer huge year-end discounts to push sales</a>

Inox India IPO allotment – How to check allotment, GMP, listing date and more

<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><keyword id="49715" type="General" weightage="20" keywordseo="x" source="Orion">X</keyword> users across the world are not able to access the platform.</li><li>Users are greeted with a Welcome to X message on the platform.</li><li>The TwitterDown hashtag has started to trend.</li></ul>Elon Musk-led social media platform X (formerly <keyword id="6354616" type="General" weightage="20" keywordseo="twitter" source="Orion">Twitter</keyword>) is currently experiencing an outage that has affected users across the world. The platform’s home page has stopped working and is just showing a welcome page to users. Update: X has now started working, with users reporting that the issue has been resolved. <div type="image" title="X down" msid="106174340" hostid="261" caption="&amp;lt;p&amp;gt;The welcome message on X&amp;lt;/p&amp;gt;"></div> When users try to load the home page, they are greeted with a “Welcome to X!” message. Downdetector, a popular website that tracks outages across websites and applications, has reported a massive spike in reports about the <keyword id="18810220" type="General" weightage="20" keywordseo="x-outage" source="Orion">X outage</keyword>. As per the platform, reports about the outage started pouring in from around 10:44 AM. It’s not just the “For You” page that is down, other pages such as “Following” are not showing up. I tried to check my followers and following from the profile section, and even those lists were empty. The hashtag “TwitterDown” has also started trending on the platform but clicking on it takes you to an empty page and the tweets are not visible. While users are still able to post tweets, the tweets are not visible to anyone, including the user who posted the tweet. At this moment, there is no information about the reason for the outage and when the issue will be resolved. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/from-apple-to-samsung-and-more-best-premium-smartphones-to-hit-indian-market-in-2023/slidelist/106170677.cms">From Apple to Samsung and more – Best premium smartphones to hit Indian market in 2023</a> <a href="https://www.businessinsider.in/stock-market/news/motisons-jewellers-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106156837.cms">Motisons Jewellers IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/apps/news/list-of-features-introduced-by-whatsapp-in-2023/articleshow/106141000.cms">Multi-device support to chat lock – key features introduced by WhatsApp in 2023</a>

X restores services after an hour-long global outage

The <keyword id="6354424" type="General" weightage="100" keywordseo="world-bank" source="Orion">World Bank</keyword>'s latest Migration and Development Brief reveals a continuing growth in remittance flows to low- and middle-income countries (LMICs) in 2023, albeit at a slower pace compared to previous years. According to the World Bank, the report highlights <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s significant position as the top remittance recipient, drawing attention to the evolving dynamics in the remittance landscape. Remittances to LMICs grew by an estimated 3.8 per cent in 2023, reaching a total of USD669 billion. Resilient labour markets in advanced economies and Gulf Cooperation Council (GCC) countries played a pivotal role in supporting migrants' ability to send money home. The report suggests a potential risk of a decline in real income for migrants in 2024 due to global inflation and low growth prospects. In the South Asian region, remittance flows to India experienced notable growth, contributing to the overall positive trend. South Asia, as a whole, witnessed a 7.2 per cent increase in remittances in 2023. The Indian economy, buoyed by a tight labour market in the United States and robust employment growth in Europe, outperformed previous forecasts by reaching USD125 billion in remittances for the year. Despite the positive trajectory, the report underscores challenges and potential risks. The Middle East and North Africa saw a decline in remittance flows for the second consecutive year, mainly driven by a sharp drop in flows to Egypt. Remittance flows to Europe and Central Asia also decreased by 1.4 per cent after a significant gain in 2022. India retained its position as the largest recipient of remittances, with an estimated USD125 billion in 2023. This underscores the crucial role played by the Indian <keyword id="57609" type="General" weightage="80" keywordseo="diaspora" source="Orion">diaspora</keyword> in supporting families and contributing to the country's economic resilience. The top five remittance recipient countries include Mexico (USD 67 billion), China (USD 50 billion), the Philippines (USD 40 billion), and Egypt (USD 24 billion). The report raises awareness about the potential impact of global economic conditions on remittance flows. The expectation of weaker economic activity in several high-income countries and the prospect of weaker job markets may soften the growth of remittances to LMICs, projecting a 3.1 per cent increase in 2024. The need for caution is emphasized, considering volatile oil prices, currency exchange rates, and the possibility of a deeper-than-expected economic downturn in high-income countries. The World Bank's Remittances Prices Worldwide Database reveals that remittance costs remain persistently high, averaging 6.2 per cent to send USD 200 as of the second quarter of 2023. The report highlights that banks continue to be the costliest channel for sending remittances, with an average cost of 12.1 per cent. A special section of the report emphasizes the potential of leveraging remittances for development finance, particularly through diaspora bonds. Diaspora bonds can be structured to tap into diaspora savings held in foreign destinations, providing a stable source of funds. The report suggests that remittances have surpassed the sum of foreign direct investment and official development assistance in recent years, presenting opportunities for private capital mobilization. India's prominence in the global remittance landscape is a testament to the significant role played by the Indian diaspora in supporting the country's economy. While challenges and risks persist, the report emphasizes the need for inclusive labour markets and social protection policies to sustain remittance flows, which serve as vital lifelines for developing countries like India. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/motisons-jewellers-ipo-at-a-glance-price-band-to-risk-factors/slidelist/106081719.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/motisons-jewellers-ipo-at-a-glance-price-band-to-risk-factors/slidelist/106081719.cms" target="_blank">Motisons Jewellers IPO at a glance – Price band to risk factors</a><a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank">DOMS IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank">India Shelter Finance IPO allotment – How to check allotment, GMP, listing date and more</a>

India tops global remittance charts at $125 billion in 2023: World Bank report

<ul><li>Amazon is currently offering festive discounts on smartphones as part of its yearend offers.</li><li>Smartphones such as iPhone 13, Galaxy S23 FE and more are available at discounted prices.</li><li>The etailer is also offering attractive discounts on iPhones.</li></ul>As the year 2023 comes to a close, deals are flying all across the internet. And if you are looking to buy a new smartphone, now is the right time to purchase a new smartphone. Amazon India has announced several offers and discounts on smartphones as the year comes to an end. As part of the sale, smartphones from brands like OnePlus, Apple, Samsung, Xiaomi, Realme and others are being offered at a discounted price. In this post, we look at some of the <keyword id="400134" type="General" weightage="20" keywordseo="best-deals" source="Orion">best deals</keyword> on smartphones on Amazon. Apple iPhone 13 <cmsannotation type="cmsannotation" annotationid="B09G99CW2N" comment="amazoncard" text="B09G99CW2N">B09G99CW2N</cmsannotation> If you are looking to get an iPhone but do not wish to splurge a lot of money, the iPhone 13 is a good option for you. While the<a href="https://www.businessinsider.in/tech/mobile/news/iphone-15-iphone-15-plus-with-usb-type-c-port-improved-cameras-launched-starting-at-799/articleshow/103615581.cms"> iPhone 15</a> is out, the iPhone 13 is still a good device for those looking for a daily user. It offers a decent camera setup, good performance and a stable user experience. The iPhone 13 is currently available for ₹50,499, down from its original price of ₹69,900. OnePlus 11R 5G <cmsannotation type="cmsannotation" annotationid="B0BSNQ2KXF" comment="amazoncard" text="B0BSNQ2KXF">B0BSNQ2KXF</cmsannotation> The OnePlus 11R 5G is another good option if you are in the market for a new smartphone. The OnePlus 11R 5G is a mid-range smartphone that comes with a good display, decent hardware and a smooth user experience. It is a good option for youngsters and professionals looking for a new smartphone. The device is currently available for ₹39,999, with a discount of up to ₹35,100 on exchange of older smartphones. Samsung Galaxy S23 FE <cmsannotation type="cmsannotation" annotationid="B0CJ4S724M" comment="amazoncard" text="B0CJ4S724M">B0CJ4S724M</cmsannotation> The Samsung Galaxy S23 FE, the company’s latest offering in its Galaxy S23 series is up for grabs at a discounted price. The Galaxy S23 FE is a good option for those looking for a hassle-free smartphone that runs without any issues. The device offers a good camera setup, making it a great option for those looking for a camera-centric smartphone. The Galaxy S23 FE is currently available for ₹59,999, down from its original price of ₹79,999. Motorola Razr 40 <cmsannotation type="cmsannotation" annotationid="B0C7QLL8QJ" comment="amazoncard" text="B0C7QLL8QJ">B0C7QLL8QJ</cmsannotation> If you are in the market for a foldable smartphone, the Motorola Razr 40 Ultra is currently available with a huge discount. The latest flip smartphone from Motorola is a great option for those bored with traditional smartphones and looking for something unique without having to break the bank. The Motorola Razr 40 is currently available for ₹44,999, down from its original price of ₹99,999. iQOO Neo 7 Pro 5G <cmsannotation type="cmsannotation" annotationid="B07WFPLL3C" comment="amazoncard" text="B07WFPLL3C">B07WFPLL3C</cmsannotation> The iQOO Neo 7 Pro 5G is another good option if you are looking for a powerful mid-range device that is good for gaming, multi-tasking and more. The device offers a decent camera setup and is a great option for youngsters looking for a daily-driver. The iQOO Neo 7 Pro 5G is currently available for ₹32,999, down from its original price of ₹39,999. Redmi Note 12 <cmsannotation type="cmsannotation" annotationid="B0C1GKQ79V" comment="amazoncard" text="B0C1GKQ79V">B0C1GKQ79V</cmsannotation> It’s not just premium and mid-range smartphones that are being offered at a discount as part of the sale. The Redmi Note 12 affordable smartphone is also being offered at a discounted price. The device offers good performance and a decent camera setup in the budget segment. The Redmi Note 12 is currently available at ₹11,999, down from its original price of ₹18,999. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/inox-india-ipo-how-to-check-allotment-and-gmp-value/articleshow/106109279.cms">Inox India IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-and-suvs-in-india-in-2023/slidelist/106092280.cms">From WagonR to Nexon to Creta – top selling cars in India in 2023</a> <a href="https://www.businessinsider.in/stock-market/webstories/motisons-jewellers-ipo-at-a-glance-price-band-to-risk-factors/slidelist/106081719.cms">Motisons Jewellers IPO at a glance – Price band to risk factors</a>

You Searched For "motisons jewellers ipo" and got 13 results

Motisons Jewellers IPO allotment – How to check allotment, GMP, listing date and more

Sourabh Jain

Motisons Jewellers IPO at a glance – Price band to risk factors

Sourabh Jain

Motisons Jewellers subscribed 15x on day 1 with outsized retail interest

BI India Bureau

Motisons Jewellers IPO opens on Dec 18, price band set at ₹52-55/sh

Anagh Pal

The IPO Rush: Grey market stays bullish, as retail investors can’t get enough

Katya Naidu

Main-board IPOs weather global headwinds, collect Rs 52,000-cr in 2023

PTI

Samhi Hotels, Motisons Jewellers get Sebi nod to float IPO

PTI

The IPO Rush: Grey market stays bullish, as retail investors can’t get enough

Katya Naidu

Inox India IPO allotment – How to check allotment, GMP, listing date and more

Sourabh Jain

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

Katya Naidu

X restores services after an hour-long global outage

Sourabh Jain

India tops global remittance charts at $125 billion in 2023: World Bank report

ANI

iPhone 13 to Redmi Note 12 – Best deals on 5G smartphones

Sourabh Jain

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