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<ul><li>Sansera Engineering is looking to raise between ₹1,282 crore from a complete offer for sale of 1.72 crore shares in the IPO.</li><li>The Bengaluru-based firm’s IPO has been fully subscribed on the second day of IPO bidding process.</li><li>Most analysts suggest subscribing to the IPO for the long term considering strong product portfolio, robust track record and optimism over auto component industry growth.</li></ul>Today is the last day to subscribe to Bengaluru-based auto component manufacturer Sansera Engineering’s initial public offering (IPO) that started from September 14. The IPO application is live from 10 a.m. to 5 p.m. So far, the initial public offering (IPO) of the company has received good response from investors given it has been fully subscribed in the first two days. The IPO has received bids for 1.23 crore shares as against 1.21 crore shares for issue. However, the grey market suggests premium has turned around for the IPO as it has come down to ₹10 premium per share from ₹80 earlier reflecting a poor sentiment. Meanwhile, analysts suggest investors to bid for the IPO keeping in mind long term investment. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firms </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Not rated </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Not rated </td></tr></tbody></table> Considering the strong product portfolio, advanced manufacturing capabilities and robust track record, we give a “SUBSCRIBE” rating for the long term, said a report by BP Equities. The report took into consideration the company’s top position in supplying connecting rods within the light vehicle segment and commercial vehicle segment for calendar year 2020. Besides, the company has strong relationships with respected Indian and global original equipment manufacturers. Moreover, the company has shifted its focus towards aluminium forged components while manufacturing auto components for vehicles including electric vehicles as it believes it has better revenue prospects. This is in line with foreign auto majors -- Audi, BMW, Nissan and Porsche -- who are also making the switch from steel to aluminum for lightweight batteries in electric cars <a href="https://www.azom.com/article.aspx?ArticleID=20395">reportedly</a>. “One of our focused areas is aluminium forged components as you are aware the industry is going to get light weighted [sic] both in passenger vehicles and two-wheelers whether it is electric or not. Lightweighting is going to happen because of the emissions norms,” said B R Preetham, group chief executive officer at Sansera Engineering in an interview with Business Insider. Analysts at Choice Broking say that likely strong revenue growth and healthy EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin over 15% to boost profitability in the coming future. The company’s gaining market share across automotive and non-automotive sectors, well-diversified business model with a strong customer base, geographical spread of revenues from India and foreign countries and diversified revenue stream from vehicle segments have impressed analysts at Religare Broking. “On the financial front, the company’s performance has been steady and it would continue to focus on improving operating efficiencies. We have a positive view on the stock from the long term perspective,” said a report by the broking firm. Peer companies to Sansera Technologies have recorded upto to 86% returns in 2021 so far. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Peer companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% year-to-date returns </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Endurance Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minda Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">86% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sundram Fasteners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">77% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Suprajit Engineering </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">62% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Motherson Sumi System </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">37% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mahindra CIE Automotive </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-valued-at-almost-200-billion-closer-to-us-listed-peer-accenture-with-216-billion/articleshow/86251290.cms">TCS valued at almost $200 billion, closer to US-listed peer Accenture with $216 billion</a>

Last day to bid for auto components maker Sansera Engineering IPO; grey market indicates ₹10 premium

<ul><li>The company is likely to announce its share allotment status on September 21.</li><li>The Bengaluru-based auto component manufacturer’s IPO was subscribed 11.47 times on the last day of bidding.</li><li>Investors have bid for 13.83 crore shares against the 1.21 crore shares on offer.</li></ul>Bengaluru-based auto component manufacturer Sansera Engineering is likely to announce the allotment of its initial public offering (IPO) status on September 21. The IPO was open for subscription between September 14 and September 16. Sansera Engineering is looking to raise between ₹1,282 crore from a complete offer for sale of 1.72 crore shares in the IPO. The IPO has received a good response from investors, especially from qualified institutional buyers and non-institutional investors as investors have bid for 13.83 crore shares against the 1.21 crore shares on offer. The portion for qualified institutional investors was subscribed 26.47 times while the non-institutional investor category received a bid for 11.37 times. Moreover, B R Preetham, group chief executive officer at Sansera Engineering, in an <a href="https://www.businessinsider.in/stock-market/news/sansera-engineering-ipo-is-opening-from-today-and-closes-on-september-16/articleshow/86189006.cms">interview </a>with Business Insider said that, “the company has shifted its focus towards aluminium forged components” as they believe it has better revenue prospects. This is in line with foreign auto majors -- Audi, BMW, Nissan and Porsche -- that are also making the switch from steel to aluminum for lightweight batteries in electric cars <a href="https://www.azom.com/article.aspx?ArticleID=20395">reportedly</a>. The IPO is scheduled to list on September 24. Here is how to check <keyword id="12105978" type="General" weightage="20" keywordseo="sansera-engineering-ipo-allotment" source="Orion">Sansera Engineering IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Sansera Engineering‘.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Sansera Engineering’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/three-reasons-why-this-might-be-a-good-time-to-buy-bitcoin/articleshow/86369793.cms">Three reasons why this might be a good time to buy Bitcoin</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paras-defence-space-technologies-ipos-grey-market-indicates-100-premium/articleshow/86367708.cms">Paras Defence &amp; Space Technologies IPO’s grey market indicates 100% premium; analysts suggest subscribing for long term</a>

Sansera Engineering IPO — How to check allotment status, listing date and more

<ul><li><keyword id="1734451" type="General" weightage="20" keywordseo="sansera-engineering" source="Orion">Sansera Engineering</keyword> is looking to raise between ₹1,000-1,500 crore through the IPO, said a source aware of the development.</li><li>The IPO is a complete offer for sale of 1.72 crore shares by six shareholders.</li><li>This is the company’s second attempt to go public. Earlier, it had filed for an IPO with SEBI in August 2018.</li></ul>Sansera Engineering is most likely to open its IPO from September 14 and close on September 16. It is looking to raise between ₹1,000-1,500 crore through the initial public offering (IPO), said a source aware of the development. This is Sansera Engineering’s second attempt to go public. Earlier, it had filed for an IPO with the market regulator in August 2018. Reportedly, it had also received a nod to float the public issue, but it did not go ahead with the <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/sansera-engineering-gets-sebis-go-ahead-to-launch-ipo/articleshow/85190914.cms">launch</a>. The IPO of the Bengaluru-based auto component maker is a complete offer for sale (OFS) of 1.72 crore by six shareholders. Client Ebene will sell 86.35 lakh shares, CVCIGP II Employees EBENE will sell 48.36 lakh, S Sekhar Vasan will sell 20.58 lakh shares and Unni Rajagopal K, FR Singhvi and D Devaraj will sell upto 5.71 lakh shares each. The auto component maker is a technology driven company with a strong focus on design, engineering, machine building and automation capabilities. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue (in ₹ crore) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,572 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,473 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,640 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit (in ₹ crore) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">109.86 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">79.9 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">98.06 </td></tr></tbody></table> Within the automotive sector, the company manufactures and supplies a wide range of precision forged and machined components and assemblies that are critical for engine, transmission, suspension, braking, chassis and other systems for the two wheeler, passenger vehicle and commercial vehicle verticals. In the non-automotive sector, Sansera Engineering manufactures and supplies precision components for aerospace, off-road, agriculture and other segments, including engineering and capital goods. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/byjus-shopping-spree-continues-this-time-it-is-gradeup/articleshow/86010989.cms">Byju's' shopping spree continues — this time, it is Gradeup</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/10-million-people-tried-ola-for-the-first-time-last-year-says-ceo-bhavish-aggarwal/articleshow/86008684.cms">10 million people tried Ola for the first time last year, says CEO Bhavish Aggarwal</a>

Sansera Engineering IPO most likely to open next week

<ul><li>Shares of blockbuster <keyword id="35156" type="General" weightage="20" keywordseo="ipos" source="Orion">IPOs</keyword> like <keyword id="10896637" type="General" weightage="20" keywordseo="paras-defence-and-space-technologies" source="Orion">Paras Defence and Space Technologies</keyword>, <keyword id="6926409" type="General" weightage="20" keywordseo="ami-organics" source="Orion">Ami Organics</keyword> have been picked by the mutual fund industry in huge amounts in September.</li><li>This comes in line with the industry’s growing equity inflows and record SIP contribution every month.</li><li>As of September, the average asset under management of the MF industry stood at ₹37 trillion.</li></ul>The ₹37 trillion mutual fund (MF) industry has together invested about ₹15.89 billion in five newly listed IPO shares in September. IPO craze is not just limited to retail investors but also the mutual fund industry who have invested in many recently listed IPOs including blockbusters like Paras Defence and Space Technologies. Nine asset management companies (AMCs) hold shares of diagnostic lab chain <keyword id="11949918" type="General" weightage="20" keywordseo="vijaya-diagnostic" source="Orion">Vijaya Diagnostic</keyword> Centre worth ₹823 crore. Here are new IPO stocks added by <keyword id="6357979" type="General" weightage="20" keywordseo="mutual-funds" source="Orion">mutual funds</keyword> in September 2021 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Market value (₹ crore) </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vijaya Diagnostic Centre </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">823.45 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Sun Life AMC </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">374.95 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sansera Engineering </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">242.27 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AMI Organics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">129.46 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paras Defence and Space Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19.25 </td></tr></tbody></table> Among these, Paras Defence and Space Technologies is one of the blockbuster IPOs in history as the stock opened at 171% premium on the listing day. Moreover, the stock has given 121% additional returns post listing. Mutual fund industry’s aggressive buying can be attributed to positive equity inflows especially those through SIP every month. In September, SIP inflows hit an all time-high as inflows crossed ₹10,000 crore for the first time in a month This resulted in the overall mutual funds industry's assets under management rising to nearly ₹37 lakh crore in September, registering an over 33% growth compared to the year-ago period, showed AMFI data. Robust buying across sectors and stocks giving significant returns has led to benchmark indices Nifty 50 and Sensex gaining nearly 30% returns in 2021 so far, becoming the top performers among other Asian equity markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jios-september-earnings-to-be-driven-by-aggressive-subscriber-additions/articleshow/87178742.cms">Reliance Jio’s September earnings to be driven by aggressive subscriber additions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/with-scoopwhoop-and-popxo-on-its-side-heres-what-myglamm-intends-to-do/articleshow/87177789.cms">With ScoopWhoop and POPxo on its side, here’s what MyGlamm intends to do</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tesla-urges-indian-government-to-slash-import-taxes-on-electric-vehicles/articleshow/87177793.cms">Tesla urges Indian government to slash import taxes, requests a meeting between Elon Musk and Prime Minister Modi</a>

India’s mutual fund industry gets its hands on blockbuster IPOs like Paras Defence and others for ₹1500 crore in September

<ul class="summary-list"><li>The "front page of the internet" is finally ready to go public.</li><li>Reddit shares start trading on the New York Stock Exchange on Thursday.</li></ul><a target="_blank" href="https://www.businessinsider.com/reddit-warns-meme-stock-investors-could-come-for-ipo-2024-2">Reddit</a> might have been self-anointed the "front page of the internet" almost two decades ago, but its time to face the public has just arrived.The social-media forum is set to <a target="_blank" href="https://www.businessinsider.com/reddit-ipo-valuation-price-range-sec-wallstreetbets-meme-stocks-2021-2024-3">list Thursday on the New York Stock Exchange</a> — marking a milestone for the company created in 2005 by a pair of college roommates from the University of Virginia.Back then, Steve Huffman and Alexis Ohanian, its cofounders who'd go by the usernames spez and kn0thing, respectively, worked under the stewardship of the veteran Silicon Valley investor Paul Graham to build a social platform just as <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg">Mark Zuckerberg</a> was taking Facebook mainstream.After bringing Aaron Swartz on board — the late computer programmer then known as a developer behind RSS feeds — the company was ready to capture the attention of people using news-aggregation services like Digg by offering its own take.The launch of subreddits in 2008 made for a turning point as communities grew around interest-based groups on the site. However, the freedom given to anonymous users to roam without oversight has left it to contend with a reputation of being social media's underbelly.While it grew through a sale to the media giant Condé Nast in 2006, before being <a target="_blank" href="https://www.businessinsider.com/reddit-ipo-advance-conde-nast-windfall-2024-3">spun out to its parent company, Advance Publications</a>, Reddit has struggled to find a path to profitability.Though it has taken its time, Reddit finally seems ready to prove its doubters wrong.On Wednesday <a target="_blank" href="https://markets.businessinsider.com/news/stocks/reddit-ipo-price-stock-offering-social-media-retail-2024-3">Reddit priced its shares at $34</a>, at the top of the range, implying a $6.4 billion valuation. The IPO is set to be one of the largest listings in recent memory in a test of investor appetite.There's a lot of uncertainty in the run-up to the day.Despite being created at a similar time to rivals such as Facebook and X, Reddit's platform has an average of 73.1 million daily active users, a far cry from the roughly 2 billion and 245 million daily users those two services have respectively.<h2>Lower losses</h2>Meanwhile, the <a target="_blank" href="https://www.businessinsider.com/vcs-playing-waiting-game-to-avoid-losses-pre-ipo-startups-2023-11">IPO market more broadly has suffered a drought</a> in recent years as uncertain market conditions have threatened to chop down ambitious valuation targets. Investors must weigh Reddit's current health to determine whether its target valuation is valid.In its <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1713445/000162828024006294/reddits-1q423.htm">IPO filing</a> last month, Reddit revealed that revenue had grown by about 21% last year, while its net loss at the end of 2023 was $90.8 million, down from $158.6 million the previous year.Those losses haven't dissuaded investors just yet, it seems. Reddit's IPO is between four and five times oversubscribed, <a target="_blank" href="https://www.reuters.com/markets/deals/reddits-ipo-much-five-times-oversubscribed-sources-say-2024-03-17/">Reuters reported Sunday</a> citing unnamed sources.<h2>AI promise</h2>Still, as <a target="_blank" href="https://www.businessinsider.com/why-reddit-loses-money-ipo-research-development-revenue-2024-2024-2">my colleague Peter Kafka has noted</a>, that's still a lot of money for Reddit to burn. In part, it's been spending heavily on engineering talent: about $439 million, or 55% of its revenue, went to research and development, which included engineer salaries.No doubt, part of the bet investors will be making is that the R&amp;D spend is focused on the technology of the moment: <a target="_blank" href="https://www.businessinsider.com/reddit-ipo-shares-loyal-users-ai-steve-huffman-sam-altman-2024-2">artificial intelligence</a>.In its S-1 filing with the Securities and Exchange Commission, Reddit positioned itself as an indispensable component of the generative-AI boom. It described its content as a "foundational part of how many of the leading large language models ("LLMs") have been trained."<a target="_blank" href="https://www.reuters.com/technology/reddit-ai-content-licensing-deal-with-google-sources-say-2024-02-22/">Reuters reported</a> last month that Reddit had sought to monetize that content by striking a licensing deal with Google to make its data available to the search giant's AI models for $60 million a year.That could boost those with a stake in the IPO, like OpenAI CEO Sam Altman, whose holding of Reddit shares <a target="_blank" href="https://www.businessinsider.com/how-much-sam-altman-gain-reddit-ipo-shares-worth-2024-3">could be worth between $51.4 million and $56.4 million</a>.Reddit plans to list 22 million shares raising about $750 million, with <a target="_blank" href="https://www.businessinsider.com/how-much-reddit-karma-needed-ipo-stock-directed-share-program-2024-2">loyal Redditors getting a chance to purchase stock</a> in addition to the usual crowd of institutional investors.The internet's front page is about to become much more visible.

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India’s mutual fund industry gets its hands on blockbuster IPOs like Paras Defence and others for ₹1500 crore in September

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