IPO: Indian stock market has seen a rise in pre-opening for the tenth consecutive day. Along with fresh stocks, the attention of investors is also on IPO. This is why yesterday RR Cable’s IPO got 25 percent subscription on the first day of issue. Even today, IPOs of two companies are going to come in the Indian market. Samhi Hotel And Zaggle Prepaid Ocean Services Investors were waiting for the IPO for a long time. Let us know their price band and details of IPO.
Samhi Hotel IPO
Investors have high expectations from the IPO of Samhi Hotel. This IPO is also in discussion in the gray market. Samhi’s IPO will be open from 14th September to 18th September. The company has kept the price band of its IPO at Rs 119 to Rs 129 per share. The face value of one share of Samhi Hotel has been kept at one rupee. The company had opened its IPO for anchor investors on Wednesday. Rs 616.50 crore has been raised through anchor investors. This includes domestic and foreign investors. Samhi has offered its 1.35 crore shares for offer for sale. The company has set a target of raising Rs 1,370.10 crore through this IPO. Its shares will be listed simultaneously on BSE and NSE of the stock exchange on September 27. The company will use the money coming from this IPO to repay its loan and fulfill general corporate purposes.
Zaggle Prepaid Ocean Services IPO
Zaggle Prepaid Ocean Services is a fintech company. Its IPO will also open from 14 September to 18 September 2023. The company has kept its price band at Rs 156 to Rs 164. The company has already raised Rs 253.52 crore through its anchor investors. Whereas, the company has offered Rs 174 crore for offer for sale.
RR Cable’s IPO got 25 percent subscription on the first day of issue.
The initial public offering (IPO) of RR Cable, which manufactures products like electrical wires, switches, fans, got 25 percent subscription on the first day of the issue on Wednesday. According to the data available on NSE, bids have been received for a total of 32,78,072 shares of the company on offer of 1,33,17,737 shares under the IPO. According to the data, the non-institutional investors category has received 29 percent subscription while the retail individual investor (RII) category has received 36 percent subscription. New shares worth up to Rs 180 crore were issued under the IPO. Apart from this, 1,72,36,808 equity shares have been placed under offer for sale (OFS). The price range for the IPO was kept at Rs 983-1,035 per share. The issue is expected to fetch Rs 1,964 crore on sale at the upper limit. The company has five manufacturing units. 88 percent of the company’s business is done through cables and wires.
How is the market situation today?
Amid a widespread strengthening trend in Asian markets, local stock markets Sensex and Nifty reached their all-time high in early trade on Thursday. Local stock markets remained bullish for the 10th consecutive day. The 30-share BSE Sensex rose 304.06 points to its all-time high of 67,771.05 in early trade. NSE Nifty rose 97.65 points to its all-time high of 20,167.65. Shares of Tata Steel, Tech Mahindra, Wipro, State Bank of India, Power Grid and JSW Steel were among the gainers in Sensex. Whereas Bajaj Finance shares remained in loss. In other Asian markets, China’s Shanghai Composite, Japan’s Nikkei and South Korea’s Kospi were in profit, while Hong Kong’s Hang Seng was in loss. American markets closed with mixed sentiment on Wednesday. Global oil standard Brent crude was up 0.42 percent at US $ 92.28 per barrel. Foreign institutional investors (FIIs) sold shares worth Rs 1,631.63 crore on Wednesday.
what is ipo
Full name of IPO Initial Public Offering Is. It is a financial process in which a private company decides to issue an offer of its stock to investors in the open market. This is the first time for the company when it goes to sell its shares in the open market. When a company issues an IPO, it publicizes its shares and gives investors the opportunity to buy its shares. Through IPO, the company makes its stock available to investors through public and news media so that they can buy it. Through IPO, the company mostly tries to attract new investors for its stock and through this the company collects most of the capital to fulfill its development and financial plans. This is an attractive option for investors because it offers them the opportunity to own a public company.