<ul><li>Shares of Abans Holdings listed at ₹273 against the issue price of ₹270 per share.</li><li>The stock has listed exactly at ₹3 premium as indicated by grey market trends.</li><li>The market capitalisation of the company stood at ₹1,353 crore after listing.</li></ul>Shares of the Mumbai-based financial services company <a href="https://www.businessinsider.in/stock-market/news/abans-holdings-to-open-ipo-next-week-from-dec-12-15-gmp-at-20-per-share/articleshow/96084679.cms">Abans Holdings</a> made a flat listing on the stock exchanges today at ₹273 against the issue price of ₹270. However, weak market sentiments dragged the scrip down, with its share price tumbling 15%. At 10:20 a.m., shares of the company declined 15% at ₹228. The grey market trends had also hinted the stock to get listed at ₹3 premium on exchanges, which has fallen from ₹20 premium in the last week. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded</a> in the unofficial market before they are listed on the stock exchanges. The market capitalisation of Abans Holdings currently stands at ₹1,353 crore, according to BSE data. Negative sentiment in the market also weighed on the listing considering benchmark indices Sensex and Nifty50 were down 0.8% in the first hour of trade today – while Sensex fell 458 points, Nifty declined 143 points. <a href="https://www.businessinsider.in/stock-market/news/three-ipos-set-to-raise-over-1800-crore-this-week/articleshow/96160133.cms">Abans Holdings IPO </a>received tepid demand from investors as the issue was subscribed 1.10 times. The qualified institutional buyer portion was subscribed the most at 4.10 times. The portion reserved for non-institutional investors witnessed a subscription of 1.48 times while retail was subscribed 0.40 times. This year, 36 IPOs made their stock market debut on the BSE mainboard. Most of them gave positive listing gains, except seven issues. Here are the top five best performing IPOs in 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Name </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Change </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">136% </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Venus Pipes &amp; Tubes </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">124% </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hariom Pipe Industries </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">108% </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Veranda Learning Solutions </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">81% </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr></tbody></table>(Source: BSE) Established in 2009, Abans Holdings is engaged in financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate. It is the financial services arm of the Abans Group. Also, it provides asset management, investment advisory and wealth management services to corporates, institutional and high net worth clients. It operates from multiple locations including India, UK, Dubai, Shanghai, Hongkong, Mauritius and Singapore. Abans Holdings is a holding company and all its business operations are conducted through three subsidiaries and 14 step subsidiaries. The company competes with non-banking financial companies, brokerage firms, AMCs and financial advisory firms. Abans Holdings revenues have depleted significantly while its profits have improved consistently in the last three years along with reduction in debt. “As can be seen, our revenues have declined mainly due to reduction in physical commodities trading due to Covid-19 related changes and our gradual movement towards exchange traded commodity instruments instead of physical commodities,” the company said in its red herring prospectus. <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;">Particulars </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;">Revenue from operations </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;">Net profit </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;">Debt (borrowings) </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;">FY22 </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;">₹638 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;">₹61 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;">₹85 crore </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;">FY21 </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;">₹1,325 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;">₹45 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;">₹267 crore </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;">FY20 </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;">₹2,765 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;">₹39 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;">₹318 crore </td></tr></tbody></table>Source: DRHP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/landmark-cars-lists-at-nearly-7-discount-on-bourses-amid-weak-market-sentiment/articleshow/96443852.cms">Landmark Cars lists at nearly 7% discount on bourses amid weak market sentiment</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/most-anticipated-sequels-of-web-series-movies-and-shows-releasing-in-2023/slidelist/96429356.cms#slideid=96430674">From Shark Tank S2 to Indian 2, a look at the most anticipated sequels releasing in 2023</a>

Abans Holdings shares tumble 14% after a flat listing on the bourses

Best and worst performing IPOs of 2022

<ul><li>Manyavar's latest campaign celebrates the Indian-ness in its truest form of the groom ‘Manyavar’ with #ManyavarAaGaya.</li><li>It features <keyword id="106133" type="General" weightage="20" keywordseo="ranveer-singh" source="Orion">Ranveer Singh</keyword> as the groom.</li></ul>It is the season of celebrations and gusto, the season of endless dance practises, the season of countless shopping tours and meaningful traditions, an occasion which is no less than a festival and much more than just a ritual. Yes, the wedding season is back and for many brides and grooms, their dreams are going to come alive. As the would-be couples make a soulful promise and walk into a lifetime of togetherness, the grandeur of a Dulha is one of the most awaited for and keeping this in mind, Manyavar has launched a new campaign, #ManyavarAaGaya with none other than the most electrifying personality – Ranveer Singh. <div type="Youtube" id="6-8x5M61rbw" title="Get ready for the shaadi season like a Manyavar" thumbUrl="https://i.ytimg.com/vi/6-8x5M61rbw/mqdefault.jpg"></div> With Ranveer Singh turning heads in the newest commercial is the major highlight, the film revolves around the curiosity and excitement of the grand and the flawless appearance by the Dulha along with the hook step that is set to become a trend in no time. Embracing our traditions and coupling it with some zest, the campaign film celebrates the Indian-ness in its truest form of the groom ‘Manyavar’ with #ManyavarAaGaya. <div type="Youtube" id="CuMb3VFwtGo" title="Foray into the shaadi season like a Manyavar" thumbUrl="https://i.ytimg.com/vi/CuMb3VFwtGo/mqdefault.jpg"></div> Commenting on the association, Vedant Modi, Chief Marketing Officer, Vedant Fashions Limited said, “We at Manyavar, love how weddings bring the culture alive through Indian wear that are unique to every celebration. We aim to make it special for anyone who wants to make a statement on their D Day. Through the video, Ranveer is seen making a stylish entry and giving grooms a fun takes on how to make their wedding day extraordinary and memorable. The ‘Dulha’ who symbolises to ‘Manyavar’ has all the eyes on the wedding day and through this campaign we are delighted in giving the grooms a chance to dress up in the stylish and regal collection. We look forward to being every groom’s choice while promising them a memorable a day.” Commenting on his experience of working on this campaign, Ranveer Singh shared, “I’m honoured to be a part of the Manyavar family. Having been a groom myself in the past, I know what a special and important day it is for any young man. The new wedding collection is absolutely stunning - it promises to make any groom look and feel on top of the world on his big day. Ultimately, it's about how your outfit makes you feel - and a Manyavar ensemble will give any groom the feeling of being a millionaire on his special day. The new #ManyavarAaGaya is an impeccably conceptualized and executed campaign that showcases the brilliance of Manyavar. The creative is incredibly joyous and has been wonderfully evoked and celebrated.”

Manyavar kick-starts the wedding season with a new advertisement with Ranveer Singh

<ul><li>‘Kanya’ means daughter and ‘daan’ means donation or giving away.</li><li>‘<keyword id="949737" type="General" weightage="20" keywordseo="kanyadaan" source="Orion">Kanyadaan</keyword>’ or the ‘giving away of the bride’ is a popular Hindu ritual where the father of the bride ‘gives away’ his daughter.</li><li>Mohey's latest campaign urges the audience to relook at this practice and give it a new meaning.</li></ul>In India, weddings are all about rituals and traditions that bring about a happy union. These age-old rituals have been an intrinsic part of our society and one of the most important being ‘Kanyadaan’. Highlighting upon this ritual and the conventional thought behind it, Mohey’s recent digital video campaign featuring <keyword id="6354526" type="General" weightage="20" keywordseo="alia-bhatt" source="Orion">Alia Bhatt</keyword> tries to promote a more inclusive and equal space for women in marriage and in life. It strives for a balance between tradition and equality. Through the film, Alia talks about a new idea that creates a union between the ritual itself and its underlying thought process placed in modern context. <div type="Youtube" id="PmCSjllj7KU" title="Tradition wahi, soch nayi - #KanyaMaan" thumbUrl="https://i.ytimg.com/vi/PmCSjllj7KU/mqdefault.jpg"></div> Completely adhering to our traditions and being reverent to our rituals, this film at the same time takes a modern stance on the conventional belief. Heralding a paradigm shift in our mindset from considering a girl child to be a liability, the film talks about sharing each other’s responsibility and journeying through thick and thin not only together but equally. The film ends with a small but significant gesture of respect and proposes a beautiful change from Kanyadaan, to Kanyamaan. “Mohey has always symbolized the progressive women of our society. Through this commercial, we have tried to bring about a shift in the mindset of the general populace while being respectful and fervent towards our traditions and rituals,” said Vedant Modi, CMO, Vedant Fashions Limited. Speaking about the making of the ad, the Director of Shreyansh Innovations, Shreyansh Baid opined, “we have always believed in progressive communication and our main thought behind making this film was to convey a strong message that is rooted in the rich Indian culture, and yet takes it a step forward by deriving inspiration from the new-age Woman and the new-age society. With Alia onboard we have been able to create a communication that strikes a chord and invokes a positive change. Adding to the thought, the very revered Alia Bhatt shared, "I absolutely believe in this thought and this is something very close to my heart. I am glad that I could be a part of this film and convey a message that might bring about a positive change in the society".

Mohey's advertisement starring Alia Bhatt urges the audience to relook at the practice of Kanyadaan

Equity benchmarks <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> opened on a choppy note on Wednesday, tracking weakness in index heavyweights <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, SBI and <keyword id="6653" type="General" weightage="20" keywordseo="ICICI-Bank" source="Orion">ICICI Bank</keyword>. Building on Tuesday's stellar rebound, the 30-share Sensex added over 300 points at the opening session but soon lost ground and slipped into the red. The benchmark was last quoted at 58,124.02, down 18.03 points or 0.03 per cent. The NSE Nifty was down 2.05 points or 0.01 per cent at 17,350.40. Tata Steel was the top loser in the Sensex pack, shedding about 1.45 per cent, followed by L&amp;T, ICICI Bank, SBI and <keyword id="54253" type="General" weightage="20" keywordseo="ultratech" source="Orion">UltraTech</keyword>. On the other hand, <keyword id="46869" type="General" weightage="20" keywordseo="mm" source="Orion">M&amp;M</keyword>, HDFC, Dr Reddy's, PowerGrid and Kotak Bank were among the gainers. "US stocks ended sharply higher Tuesday, with all three major benchmarks snapping a three-day losing streak. "Stocks rose as investors read recent developments in western Russia as indication of de-escalation in animosities, even as US President Joe Biden cautioned that an attack by Russia of Ukraine was still seen as imminent, said Deepak Jasani, Head of Retail Research, HDFC Securities. On Tuesday, the Sensex had surged 1,736.21 points or 3.08 per cent to end at 58,142.05. This was its biggest one-day jump since February 1, 2021. Likewise, the NSE Nifty had soared 509.65 points or 3.03 per cent to settle at 17,352.45. Elsewhere in Asia on Wednesday, bourses were trading higher in afternoon deals as fears of a Russian invasion of the Ukraine this week dissipated. Global crude oil benchmark Brent Futures fell 0.19 per cent to USD 93.06 per barrel. Foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday, as they offloaded shares worth Rs 2,298.76 crore, according to stock exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/manyavar-makes-an-unexpectedly-good-listing-despite-a-weak-market-momentum/articleshow/89607114.cms">Manyavar makes an unexpectedly good listing despite a weak market momentum</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-mahindra-vedant-fashions-idbi-bank-and-other-hot-stocks-on-february-16/slidelist/89605353.cms">Tech Mahindra, Vedant Fashions, IDBI Bank and other hot stocks on February 16</a>

Sensex, Nifty start on choppy note — Tata Steel, L&T, ICICI Bank, SBI and UltraTech top losers

<ul><li><keyword id="11938356" type="General" weightage="100" keywordseo="cryptopunk" source="Orion">CryptoPunk</keyword> #5822 has been sold for 8,000 ETH, worth around $23.7 million at the time of sale.</li><li>The CryptoPunk <keyword id="4668945" type="General" weightage="80" keywordseo="nft" source="Orion">NFT</keyword> project has recorded $2.61 billion in lifetime trades so far.</li><li>The previous record for the highest selling CryptoPunk was at around $11 million, in June 2021.</li></ul>The <keyword id="13183027" type="General" weightage="20" keywordseo="CryptoPunks-NFT-project" source="Orion">CryptoPunks NFT project</keyword> has set another record for itself. On February 12, <a href="https://www.larvalabs.com/cryptopunks/details/5822">CryptoPunk #5822</a> became the highest-selling CryptoPunk to date when it was sold for 8000 ETH, worth close to $23.7 million at the time. The punk was bought by <keyword id="13183026" type="General" weightage="20" keywordseo="deepal-thapliyal" source="Orion">Deepal Thapliyal</keyword>, the chief executive officer of blockchain startup Chain, who collects non-fungible tokens (NFTs) like this. He had also bought a rare Mutant Ape Yacht Club NFT for $5.8 million in January, earlier this year. CryptoPunk #5822, on the other hand, is one amongst 333 artworks in the NFT project that wears a bandana. There are only nine others like it in the entire collection. The previous record was held by <a href="https://www.businessinsider.in/cryptocurrency/news/a-cryptopunk-nft-called-covid-alien-was-bought-for-11-8-million-by-draftkings-largest-shareholder-in-a-sothebys-auction/articleshow/83416839.cms">CryptoPunk #7523</a>, which sold for $11.8 million through British auctioneers Sotheby’s in June 2021 —CryptoPunk $5822 sold for double that amount. <cmsannotation type="cmsannotation" annotationid="Keeping busy" comment="subhead" text="Keeping busy">Keeping busy</cmsannotation> These aren’t the only two CryptoPunk NFTs that have made a mark in recent times. The <keyword id="12061595" type="General" weightage="80" keywordseo="cryptopunks" source="Orion">CryptoPunks</keyword> project has routinely featured in some of the most expensive NFTs that have been sold till date. CryptoPunk #4156 was sold for around $10.56 million in December 2021, while CryptoPunk #3100 and CryptoPunk #7804 have been sold for $7.58 million and $7.57 million, respectively. Both of these, like CryptoPunk $7523 belong to the ‘Alien Punk’ line and are amongst the 378 punks that use pipes, and the 254 that wear caps. According to blockchain tracking firm <a href="https://dappradar.com/nft">DappRadar</a>, the CryptoPunk project has racked up $2.61 billion in trading volumes in its lifetime. About $163.07 million of that has come in the last 30 days alone. <cmsannotation type="cmsannotation" annotationid="Why CryptoPunks?" comment="subhead" text="Why CryptoPunks?">Why CryptoPunks?</cmsannotation> On the face of it, the CryptoPunks project is simply a bunch of 8-bit artworks that don’t really make sense. In fact, many believe that it is still an internet fad that will soon die out. But projects like CryptoPunks, Bored Ape Yacht Club and more have a larger relevance in the overall metaverse space. They signify avatars that companies like Facebook and Microsoft think we will own when we interact in virtual worlds in future. The blockchain platforms being used to signify ownership of these punks is the same one that will signify ownership of avatars in the metaverse and keep different people’s avatars from looking the same, or even being stolen. Metaverse identity theft, anyone? SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/russias-new-crypto-law-is-less-than-a-week-away-heres-what-we-know-so-far/articleshow/89582403.cms">Russia's new crypto law is less than a week away — Here’s what we know so far</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-mahindra-vedant-fashions-idbi-bank-and-other-hot-stocks-on-february-16/slidelist/89605353.cms">Tech Mahindra, Vedant Fashions, IDBI Bank and other hot stocks on February 16</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bajaj-finances-strong-digital-move-made-it-bigger-than-home-loans-giant-hdfc/articleshow/89591612.cms">Bajaj Finance’s strong digital move made it bigger than home loans giant HDFC</a>

CryptoPunks NFT project has set another record for itself, this time worth $24 million

IPOs in FY23 have been fewer but many have fared better than the previous year

After record-high levels of <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022. In Q1 2022, the Indian market introduced 16 IPOs vs 23 IPOs in Q1 2021, according to the EY Global IPO Trends Q1 2022. During Q1 2022, proceeds raised through the main markets equated to $ 995m via three main market IPOs compared to US$ 2.57 bn during Q1 2021, which is a decline of 60 per cent in proceeds raised and a decline of 82 per cent in the number of deals. SME segment raised US$ 17.46m via 13 IPOs during Q1 2022. The sudden reversal can be attributed to a range of issues, both emerging and residual. These include the rise in geopolitical tensions; stock market volatility; price correction in over-valued stocks from recent IPOs; growing concerns about a rise in the commodity and energy prices; the impact of inflation and potential interest rate hikes; as well as the Covid-19 pandemic risk continuing to hold back full economic recovery. The three largest IPOs in terms of proceeds were Adani Wilmar, Vedant Fashions and AGS Transact Technologies, with consumer products &amp; retail being the most active sector followed by the diversified industrial products. On the findings of the report, Sandip Khetan, Partner and Financial Accounting Advisory Services Leader, EY India, said, "The IPO momentum of a blockbuster 2021 has not carried over to 2022 so far. Issuance and proceeds are well off last year's pace, as geopolitical uncertainty along with other macro factors continues to affect investor sentiment. That said, we are witnessing the largest IPO (of LIC) in Indian capital markets and the successful closure of other recent IPOs. The backlog of IPOs could lead to a strong upswing in volumes if volatility does moderate and earnings are robust." However, in line with continued regulatory developments aimed at enhancing disclosures and market practices, there have been several recent amendments such as a change in disclosures for objects of the issue, revised norms for credit rating agencies (monitoring proceeds), revised norms for price band (wherein now 5 per cent cap is to be maintained between the floor price and upper price). In addition, SEBI issued a consultation paper on 'Basis of Issue Price' covering additional parameters, e.g., Key Performance Indicators (KPIs) to be disclosed, particularly for loss-making companies basis for arriving at the issue price. The EY report also highlights that there is a strong pipeline for IPOs in Q2 2022 and beyond. More than 20 companies have filed their DRHPs in Q1 of 2022, planning to raise funds in the current calendar year. These include a mix of traditional companies with long track records as well as newer age companies across various sectors such as consumer, pharmaceuticals, technology, logistics and financial services. In line with the sharp decline in global IPO activity, there was a considerable fall in cross-border, unicorn, mega (proceeds above US$1b) and SPAC IPOs. There were also several IPO launches postponed due to market uncertainty and instability. On a broader note, EY findings suggest witnessing a robust activity in the private market with more than 10 companies gaining Unicorn status in Q1 2022. PE/VC investments in 2022 continue good momentum, with Jan-Feb 2022 investments (US$10.3bn) being more than twice that of Jan-Feb 2021 (US$4.1bn) but 7.6 per cent lesser than the previous two-month period November-December 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-companies-will-benefit-through-backward-integration-with-buyout-of-ambuja-and-acc-cement-companies/articleshow/91591119.cms">Adani Group companies will benefit through backward integration with buyout of two major cement firms — Ambuja Cements, ACC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/reliance-is-reportedly-working-on-a-platform-for-third-party-sellers-starts-adding-sellers-to-jiomart/articleshow/91590604.cms">Reliance is reportedly working on a platform for third-party sellers, starts adding sellers to JioMart</a>

After a year of record high IPO activity, Indian IPO market experiences significant slowdown

<ul><li>Eight out of 14 IPOs listed in the Indian stock market in 2022 have given negative returns to investors.</li><li>Adani Group company Adani Wilmar is the only outlier that more than doubled investors' money in five months of 2022.</li><li>Analysts say apart from weak market sentiment, high valuations of many IPOs despite poor financial performance is hurting investor appetite</li></ul>At the fag end of this year’s IPO season, investors might learn a valuable lesson – profiting off listing debuts is not as easy as it looks. All the 14 initial public offers (IPO) which called for bids this year were fully subscribed with substantial interest from retail investors – irrespective of the quality of companies that went public. Eight of the 14 IPOs in 2022 have given negative returns so far – thanks to RBI’s surprise move to <a href="https://www.businessinsider.in/finance/news/indias-central-bank-confirms-another-rate-hike-is-coming-in-june/articleshow/91739640.cms">raise interest rates</a>, global outlook, <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-more-money-this-year-than-they-brought-in-between-2009-2021/articleshow/91747269.cms">FIIs fleeing Indian markets</a> and of course rising inflation that’s hurting consumer sentiment and margins. The only ‘good’ surprises being <a href="https://www.businessinsider.in/stock-market/news/adani-wilmar-lists-below-analysts-and-investors-expectations-at-3-9-discount/articleshow/89420527.cms">Adani Wilmar</a> and <a href="https://www.businessinsider.in/stock-market/news/veranda-learning-solutions-beats-gmp-and-lists-at-20-premium/articleshow/90771284.cms">Veranda Learning Solutions</a> – but they were listed way before the market crash. Even a behemoth like LIC which became the <a href="https://www.businessinsider.in/stock-market/news/lic-stock-falls-8-on-listing-day-but-still-beats-hul-and-icici-to-become-indias-fifth-most-valued-company/articleshow/91609556.cms">fifth most valuable company</a> in India after listing – fell after its public debut – suggesting that the days of ‘easy listing gains’ are over. <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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPOs in 2022 </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return from issue price </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscription received </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">156% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17.37 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Veranda Learning Solutions </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">65% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.53 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rainbow Children </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12.43 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.57 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Prudent Corporate Advisory Services </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.22 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ethos </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.04 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paradeep Phosphates </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-2% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.75 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Delhivery </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.63 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Campus Activewear </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">51.75 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Venus Pipes &amp; Tubes </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-6% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16.31 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LIC </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-6% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.95 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hariom Pipe Industries </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-8% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.93 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Uma Exports </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-31% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.67 times </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:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AGS Transact Technologies </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-44% </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:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.79 times </td></tr></tbody></table>(Source: BSE) More pain in the equity market ahead For these recently listed entities, analysts see more pain in the coming months. Since some of the companies that went public are yet to make profits, their earnings in the next few months might disappoint the markets and investors, even further. “FIIs, DIIs are uncertain about the earnings of IPO bound or other unlisted companies due to various macro factors playing out. Earnings in the upcoming quarters will be the turning point for market conditions for IPO and markets in general,” said Manoj Dalmia, founder and director at Proficient equities Private. The newly listed companies like LIC, Delhivery and Veranda Learning Solutions have depressed investor sentiment even further as they reported their March quarter earnings. LIC’s net profit fell 17% to ₹2,409 crore in the March quarter. Delhivery and Veranda Learning Solutions too reported losses of ₹119 crore and ₹20 crore respectively. Again, Adani Wilmar was an exception. Its profit surged <a href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-revenue-rockets-fuelled-by-boiling-edible-oil-prices/articleshow/91260794.cms">40% during the March quarter </a> due to the rise in edible oil prices, as an after-effect of the Russia-Ukraine war. But this very news might be bad for most other companies across the sector – which means fewer funds, inflated raw material prices and more. “The markets are slightly weak due to increasing inflation, global uncertainty of rate hikes, and war between Russia and Ukraine. Even VC fundings have narrowed in startups and already layoffs are being seen in gaming and education sectors,” added Dalmia. The fund crunch is also affecting the valuations of companies with good fundamentals; but those IPOs which were priced high will continue to face even more pain once earnings are announced. Yet, there is one silver lining that the global economy itself might improve for the better and bring back foreign funds and domestic sentiment which can improve the outlook of these stocks for the better. “My sense is things from here on should improve as there is still domestic capital to be deployed and hopefully FIIs also at some point will do reallocation and come back in the market,” said Neha Khanna, director at ValPro. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ambani-and-adani-together-borrowed-more-than-1-out-of-every-5-from-foreign-lenders/articleshow/91909834.cms">Mukesh Ambani and Gautam Adani account for $1 out of every $5 of foreign loans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-will-have-a-solid-turnaround-war-chest-if-it-clinches-the-amazon-deal/articleshow/91906347.cms">Vodafone Idea will have a solid ‘turnaround’ war chest if it clinches the Amazon deal</a>

You Searched For "vedant fashions" and got 9 results

Abans Holdings shares tumble 14% after a flat listing on the bourses

Bhakti Makwana

Best and worst performing IPOs of 2022

Rounak Jain

Manyavar kick-starts the wedding season with a new advertisement with Ranveer Singh

BI India Partner