Glenmark Life Sciences IPO Day 1 Subscription

Glenmark Life Sciences IPO Day 1 Subscription
IPO
27/07/2021

The Rs.1,514 crore IPO of Glenmark Life Sciences, consisting of Rs.1,060 crore of fresh issue and Rs.454 crore offer for sale, got a solid response from retail investors on Day-1. As per the combined bid details put out by the BSE, Glenmark Life IPO had been subscribed 2.78 times, with chunk of the demand coming from the retail segment followed by HNI segment. 

As of close of 27 July, out of the 150.18 lakh shares on offer in the IPO, Glenmark Life Sciences saw applications for 417.17 lakh shares at the end of Day-1. This implies an overall subscription of 2.78 times. The granular break-up of subscriptions is interesting. The QIB portion got hardly any subscriptions on Day-1 as these QIB subscriptions typically come in on the last day.

 

Glenmark Life Sciences IPO Subscription Details Day 1

Date QIB NII Retail Total
July 27, 2021 17:00 0.00x 0.86x 5.17x 2.78x

 

However, it must be remembered that on 26 July, Glenmark Life has already done an anchor placement of 63.10 lakh shares to QIB investors like HSBC, Copthall, Kuber, Oaktree, IMF, Norwegian Pensions, Reliance General etc. The original 50% QIB quota for the IPO has been reduced by the anchor investment amount.

Read: 5 Reasons to invest in Glenmark Life Sciences IPO

 

HNI portion got subscribed just 0.85 times but the funded applications come in on the last day, when we will get a clearer picture. The real big story was the retail portion, which is already subscribed 5.16 times at the end of Day-1, showing strong retail investor appetite.

Among retail investors; out of the 75.43 lakh shares on offer, valid bids were received for 389.49 lakh shares, of which bids for 315.58 lakh shares were received at the cut-off price. The IPO is priced in the band of (Rs.695-Rs.720) and will close for subscription on Thursday, 29 July.

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Why Did Stock Market Fall Today?

Falling Stock market
by Nikita Bhoota 28/07/2021

Considering the global cues, Dalal Street is facing a huge sell-off in today’s trade. Huge selling is seen in banking, financial, pharma, auto and IT stocks.

Sectoral Indices at glance:
 

Indices

(%)Change

Nifty Bank

-0.76

Nifty Auto

-0.93

Nifty Fin Service

-0.51

Nifty FMCG

0.00

Nifty IT

0.21

Nifty Media

-0.25

Nifty Metal

1.22

Nifty Pharma

-0.38

Nifty PSU Bank

-1.88

Nifty Pvt Bank

-0.51

Nifty Realty

-0.79

Source: NSE

Sensex has hit day’s low of 51,803 and day’s high of 52,674. It means Sensex tumbled 871 points today however recovered later and closed at 52,444 down 135 points.

Here, are the reasons for fall the in the stock market.

Weak Asian markets & US markets:

? Asian share markets are trading near seven-month lows. 

? The Japanese ‘Nikkei’ trading down by 450 points as the huge sell-off in the Chinese stocks sees collateral risk-off in other Asian markets. 

? The Hong Kong 'Hang Seng’ has tumbled over 2500 points in 3 days which signifies a loss in one market may result in foreign investors dump stocks in other markets.

? US stocks also corrected sharply with global cues as Nasdaq fell over 2% before recovering to close down 180 points.

 

Quarterly results in focus:

The following companies are going to announce their quarterly performance today.
Maruti Suzuki India, Nestle India, ABB India, Astec Lifesciences, Birlasoft, Central Bank of India, Century Textiles & Industries, Coforge, Dhanlaxmi Bank, Embassy Office Parks REIT, Gateway Distriparks, Geojit Financial Services, Greenpanel Industries, Grindwell Norton, Happiest Minds Technologies, Heritage Foods, HSIL, ICRA, IDBI Bank, Intellect Design Arena, JM Financial, Mahindra Lifespace Developers, Mahanagar Gas, Mold-Tek Packaging, Pfizer, Radico Khaitan, Ramco Systems, Route Mobile, RPG Life Sciences, Sagar Cements, SRF, Tata Coffee, TCI Express, TeamLease Services, United Breweries, UTI Asset Management Company, and Welspun India.

Rise in India VIX:

India VIX, volatility index, jumped 3.4% to 13.69 levels as the Sensex, Nifty 50 fell. India VIX has hit high of 15.98 and low of 11.35 today.

IMF cuts India’s GDP Forecast:

Due to the impact of the Covid second wave, the International Monetary Fund (IMF) cut India's growth projection from 12.5% to 9.5% for fiscal 2021-22.

FII flow trends:

FIIs net sold shares of Rs 1,459.08 crore, whereas DIIs net purchased shares of Rs 729.96 crore in the Indian equity market on July 27, as per provisional data available on the NSE.

F&O expiry & US Fed meet:

F&O expiry and US Fed meet and will be in focus as high volatility can be seen in the stock market.

 

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Rolex Rings IPO Day 1 Subscription

Rolex Rings IPO Day 1 Subscription
IPO
28/07/2021

The Rs.731 crore Rolex Rings IPO, consisting of Rs.56 crore of fresh issue and Rs.675 crore offer for sale, got a steady response from retail investors on Day-1. As per the combined bid details put out by the BSE, Rolex Rings IPO had been subscribed 3.84 times, with bulk of the demand coming from the retail segment followed by HNI segment. 

As of close of 28 July, out of the 56.86 lakh shares on offer in the IPO, Rolex Rings saw applications for 218.15 lakh shares at the end of Day-1. This implies an overall subscription of 3.84 times. The granular break-up of subscriptions is tilted in favour of retail investors. The QIB portion got virtually no subscriptions on Day-1 but they come on the last day.

However, on 27 July, Rolex Rings has already done an anchor placement of 24.37 lakh shares to QIB investors like HDFC Mutual Fund, Axis Mutual Fund, ICICI Pru MF, Birla MF, Kotak MF and SBI Mutual Fund. The original 50% QIB quota has been reduced by anchor investment amount of Rs.219 crore.

The HNI portion got subscribed 1.34 times but funded applications come in on the last day along with corporate applications, when we get a clearer picture. The real big story was the retail portion, which is already subscribed 7.10 times at the end of Day-1, showing strong retail appetite.

Among retail investors; out of the 28.43 lakh shares on offer, valid bids were received for 201.80 lakh shares, of which bids for 160.15 lakh shares were received at the cut-off price. The IPO is priced in the band of (Rs.880-Rs.900) and will close for subscription on Friday, 30 July. The anchor placement happened at the upper end of the band.

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Rolex Rings IPO subscribed 9.26 times at end of Day-2

Rolex Rings IPO Subscription Day 2
29/07/2021

The Rs.731 crore IPO of Rolex, consisting of Rs.56 crore fresh issue and Rs.675 crore OFS, has gradually built on the response from retail investors on Day-1 and Day-2. As per the combined bid details put out by the BSE, Rolex Rings IPO was subscribed 9.26X overall, with bulk of the demand coming from the retail segment followed by the HNI segment. The issue had been subscribed 3.84X on Day-1 itself.

 

Also Read: Rolex Rings IPO Day 1 Subscription


As of close of 29 July, out of the 56.86 lakh shares on offer in the IPO, Rolex Rings saw applications for 526.39 lakh shares. This implies an overall subscription of 9.26X. The granular break-up of subscriptions were tilted in favour of retail investors but HNI portion has seen good traction on Day 2. 


The QIB portion remains tepid at the end of Day-2 also. On 27 July, Rolex Rings did an anchor placement of 24.37 lakh shares to QIB investors like HDFC MF, Axis MF, ICICI Pru MF, Birla MF, Kotak MF and SBI MF. QIB portion is just subscribed 0.23X, but is likely to see action on the last day.


The HNI portion got subscribed 5.58X (getting applications for 71.22 lakh shares against the quota of 12.18 lakh shares). Of course, funded applications and corporate applications, will come in on the last day. The real big story was the retail portion, which is already subscribed 15.88 times at the end of Day-2, showing strong retail appetite.


Among retail investors; out of the 28.43 lakh shares on offer, valid bids were received for 451.47 lakh shares, of which bids for 356.11 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.880-Rs.900) and will close for subscription on Friday, 30 July. 
 

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Rakesh Jhunjhunwala Bets Big on Indian Aviation with Akasa Air

Rakesh Jhunjhunwala Akasa Airlines
29/07/2021

The good news for Indian aviation is that no less a person than Rakesh Jhunjhunwala is bullish on the sector. Known for his shrewd long-term bets on stocks like Titan, Rallis and Lupin; Rakesh Jhunjhunwala plans to put aviation industry in India in a new light altogether.

What the Big Bull plans in Indian aviation?

Rakesh Jhunjhunwala is planning to invest $35 million (Rs.260 crore) to launch an ultra-low-cost airline in India with a starting fleet of 70 planes. These plans are expected to fructify over the next 4 years. The proposed airline will be called “Akasa Air”. 

Rakesh is extremely bullish on the demand side of Indian aviation and expects the real growth to commence when flying truly becomes a mass product. That is only possible through an ultra-low-cost airline, which is what Akasa Air is supposed to be.

The first step is to get the aviation license, which they are expecting from the Ministry of Civil Aviation during Aug-21. The planes will be mid-sized aircraft with a seating capacity of 180 persons. Rakesh Jhunjhunwala has already zeroed in on a senior executive from Delta Airlines to drive business at Akasa Air.

Conscious of headwinds, but not deterred, says the Big Bull

Rakesh Jhunjhunwala has underscored that he is fully conscious of the headwinds in aviation today like flying restrictions, steep fuel costs, low load factor and negative spreads of RASK over CASK. However, all this is expected to normalize and Rakesh is confident that they have the business model and the alliances in place to tap what is going to be the world’s biggest aviation market. For an investor known for his unbridled optimism, the aviation foray will need mountains of optimism to make a difference.
 

Also Read - Big Bull Rakesh Jhunjhunwala's Portfolio 2021

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Tatva Chintan Pharmachem IPO lists at 95% premium

Tatva Chintan NSE-BSE Listing
IPO
29/07/2021

Even before Tatva Chintan Pharmachem listed on the bourses, there was already a huge expectation built around the stock. Well ahead of listing, the GMP was hinting at listing premium of 90-100%. That is exactly what it turned out to be. After a phenomenal subscription of over 180 times in the IPO, the listing response was expected to be robust. Here is the Tatva Chintan Pharmachem listing story on 29 July.

Also Read - Tatva Chintan IPO Final Subscription


With the kind of response that the IPO got, the IPO price was fixed at the upper end of the band at Rs.1,083. On 29 July, the stock of Tatva Chintan Pharmachem listed on the NSE at a price of Rs.2,111.85, a premium of 95% over the issue price. On the BSE, the stock listed at a price of Rs.2,110.80, again implying a listing premium of 95%.

On the NSE, the Tatva Chintan IPO closed at Rs.2,303.30, a first day closing premium of an impressive of 126.77% over the issue price. On the BSE, the stock closed at Rs.2,310.25, a first day closing premium of 133.19% over the issue price.

On Day-1 of listing, Tatva Chintan touched a high of Rs.2,534.20 on the NSE and a low of Rs.2,111.85. On Day-1, the Tatva Chintan stock traded a total of 78.61 lakh shares on NSE amounting to value of Rs.1,812 crore. On the NSE, Tatva was ranked Number 4 by traded value on 29 July.

On the BSE, Tatva Chintan touched a high of Rs.2,486.30 and a low of Rs.2,111.80. On the BSE, the stock traded a total of 8.99 lakh shares amounting to value of Rs.207 crore. At the close of Day-1, Tatva Chintan had a market capitalization of Rs.5,121 crore with free-float market cap of just Rs.768 crore.