Nifty 17196.7 (-1.18%)
Sensex 57696.46 (-1.31%)
Nifty Bank 36197.15 (-0.85%)
Nifty IT 35848.05 (-0.86%)
Nifty Financial Services 17779.5 (-1.13%)
Adani Ports 737.45 (-0.22%)
Asian Paints 3110.45 (-2.21%)
Axis Bank 673.00 (-0.46%)
B P C L 385.90 (1.86%)
Bajaj Auto 3287.85 (-1.22%)
Bajaj Finance 7069.25 (-1.55%)
Bajaj Finserv 17488.70 (-1.52%)
Bharti Airtel 718.35 (-1.94%)
Britannia Inds. 3553.75 (-0.69%)
Cipla 912.05 (-1.00%)
Coal India 159.75 (0.28%)
Divis Lab. 4757.05 (-0.42%)
Dr Reddys Labs 4596.50 (-1.42%)
Eicher Motors 2455.55 (0.16%)
Grasim Inds 1703.90 (-1.16%)
H D F C 2771.65 (-1.29%)
HCL Technologies 1171.40 (-1.12%)
HDFC Bank 1513.55 (-0.80%)
HDFC Life Insur. 690.95 (-2.03%)
Hero Motocorp 2462.45 (-0.41%)
Hind. Unilever 2343.65 (-1.66%)
Hindalco Inds. 424.65 (-1.72%)
I O C L 122.20 (1.28%)
ICICI Bank 716.30 (-0.84%)
IndusInd Bank 951.15 (0.59%)
Infosys 1735.55 (-0.73%)
ITC 221.65 (-1.69%)
JSW Steel 644.55 (-0.34%)
Kotak Mah. Bank 1914.20 (-2.55%)
Larsen & Toubro 1801.25 (0.67%)
M & M 836.95 (-1.48%)
Maruti Suzuki 7208.70 (-1.59%)
Nestle India 19321.35 (-0.93%)
NTPC 127.00 (-1.32%)
O N G C 145.90 (1.32%)
Power Grid Corpn 206.10 (-3.92%)
Reliance Industr 2408.25 (-3.00%)
SBI Life Insuran 1165.95 (-1.86%)
Shree Cement 25914.05 (-1.43%)
St Bk of India 473.15 (-0.81%)
Sun Pharma.Inds. 751.80 (-1.89%)
Tata Consumer 774.30 (0.14%)
Tata Motors 480.10 (0.21%)
Tata Steel 1118.00 (0.50%)
TCS 3640.45 (-0.07%)
Tech Mahindra 1593.30 (-2.23%)
Titan Company 2369.25 (-0.72%)
UltraTech Cem. 7332.45 (0.13%)
UPL 712.75 (2.08%)
Wipro 640.75 (-0.94%)

Inspira Enterprises gets SEBI Approval for Rs.800 crore IPO

Inspira Enterprises gets SEBI Approval for Rs.800 crore IPO
by 5paisa Research Team 09/11/2021

Inspira Enterprises, an IT solutions provider, has got SEBI approval for its Rs.800 crore IPO. SEBI had given observations letter pertaining to the filing, which is equivalent to an approval. Inspira had filed the draft red herring prospectus (DRHP) with SEBI in August 2021, which has just been approved. The next steps are to file the RHP with the ROC and to finalize the details of the public issue.

The proposed IPO will comprise of a fresh issue of Rs.300 crore and an offer for sale of Rs.500 crore. The promoters of the company, the Prakash Jain Family Trust and the Manjula Jain Family Trust, will offload shares worth Rs.277.15 crore and Rs.91.77 crore respectively. In addition, Prakash Jain will also offload shares worth Rs.131.08 crore in his personal capacity taking the total size of the OFS to Rs.500 crore.

The Rs.300 crore fresh issue component will be a fresh infusion and will also dilute the equity. The funds will be used to repay debt, for working capital needs and also for general corporate purposes. The company is planning a pre-IPO placement of Rs.75 crore and if successful, then the company will reduce the size of the IPO proportionately.

Inspira Enterprises is a digital transformation company with a predominant focus on cybersecurity. With the big shift to digital and billions of transactions moving to the digital mode, the importance of cybersecurity has been underlined. A series of data breaches, both in India and abroad, have also highlighted the urgent need for corporates to beef up their cybersecurity defences.

Inspira offers cybersecurity and digital transformation services to clients across various industry verticals as well as various geographies. In the realm of digital transformation and cybersecurity, Inspira offers the complete suite of services including consultation, architecture, solution design, implementation, monitoring and managed services.

Inspira has appointed Axis Capital, JM Financial, Nomura Financial Advisory, SBI Capital Markets and Yes Securities as the book running lead managers to the issue. While the date of the issue is yet to be finalized, the normal time taken for the issue to open after the SEBI approval varies between 15 days to 30 days.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in November 2021

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

T+1 settlement to go live on stock exchanges from 25-Feb

T+1 settlement to go live on stock exchanges from 25-Feb
by 5paisa Research Team 09/11/2021

It is now official. The shift from T+2 settlement to T+1 settlement will happen, albeit with a delay and some changes. Here are key highlights of the shift to T+1.

A) Like in the earlier version announced by SEBI, inclusion in the T+1 settlement cycle would continue to be voluntary. SEBI will only define the criterial for eligible companies for T+1 and the onus will entirely be on the companies to decided whether they want to join the T+1 cycle or remain in the T+2 cycle.

B) The start date has been tweaked from Jan-22 to end of Feb-22. The first batch of stock inclusions for the T+1 cycle will be done on 25-February, the day after the F&O expiry. The target is to complete the total migration of stocks and make them eligible for T+1 by the end of calendar year 2022.

C) The methodology has been modified to focus on the smaller companies first. On 25-Feb, the 100 companies with the lowest market cap among all listed companies will be shifted to the T+1 cycle eligible list.

Each month, the day after the F&O expiry, another 500 companies with progressively higher market cap will be shifted to the T+1 eligible list. This will continue till the end of 2022, by which time all companies will shift.

D) SEBI has asked both the principal stock exchanges, BSE and NSE, to coordinate the launch. Even in cases of companies listed on both exchanges, the market cap ranking will be done based on the trading in the stock exchange which displays higher volumes.

The T+1 cycle will continue parallel with T+2 cycle and cross margining and cross cycle adjustments will not be permitted.

E)  In all the above rankings, the average daily market cap in October 2021 will be taken as the benchmark. For companies that are listed after October 2021 or in the case of listed IPOs, the immediate month volumes in the market will be considered.

Globally, the US is planning to entirely move to the T+1 cycle from its current T+2 cycle over 2 years. In Asia, most of the key markets like Hong Kong, Singapore, Korea and Australia are on T+2. Taiwan had attempted to shift to T+1 but had eventually reverted to the T+2 system. The T+2 system will be safer for retail investors with shorter capital lock-in.

One objection of FPIs is that forex exposures need to be hedged on their net open positions and hence differing time zones could be a constraint. However, when T+1 is being handled for F&O, there is no reason it cannot be handled for stocks too.

Also Read:- 

SEBI Announces Optional T+1 Settlement

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Mahindra and Mahindra Scouts for Investors for its EV Business

by 5paisa Research Team 10/11/2021

The stock of Mahindra & Mahindra is not known to shows spikes in volatility and has been a steady performer over time. However, in the last 3 months, the stock of M&M is up 18.04%. The latest quarter results were good and in the October auto sales numbers, Tata Motors and M&M were the only 2 large players to show positive growth in dispatch volumes.

What really triggered off a spate of interest in M&M is some key announcements in its latest AGM and the layout of a 5 year plan for the company. Among the two major steps, the first is to substantially expand its farm machinery franchise up to the level of its tractors business while the second is to look for ways to monetize its EV business at a later date.

A quick word on the farm machinery business of M&M first. Mahindra plans to grow its farm machinery business 10-fold by 2027 to touch revenues of Rs.5,000 crore. The idea is to bring the same traction in farm machinery as in tractors.

M&M currently has a 40% share in tractors and just 10% in farm  machinery. One of its commitments in the latest AGM is to expand the farm machinery share also to 40%. Globally, share of farm machinery is twice that of tractors.

Now for the more important electrical vehicles space. M&M plans to invest close to Rs.3,000 crore by the end of fiscal year 2024. The idea is to once again regain leadership in EVs, which it has since ceded to the Tatas, despite M&M pioneering EVs in India.

The bigger game will be on valuations and M&M will look to monetize its EV property at some point in the future, but first it will have to create the right ecosystem to generate value.

Tata Motors had recently raised $1 billion from global marquee investors including TPG, which valued the EV business of Tata Motors alone at $9.1 billion. Even players like TVS Motors, Ashok Leyland and Bajaj are heavily investing into green vehicles, while in the case of Tata Motors the rollout has already started quite aggressively.

Even in the global markets, it is EVs that drive valuations. For example, Elon Musk’s Tesla has given returns of 1,600% in the last 2 years and has a market cap that is more than the entire global auto industry combined. M&M believes that a strong EV franchise can also be accretive for group valuations.

Also Read:-

Best EV Stocks to Buy

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Tarsons Products IPO - 7 Things to Know

Tarsons Products IPO - 7 Things to Know
by 5paisa Research Team 10/11/2021

Tarsons Products has announced the opening of its IPO on Monday 15th November. Tarsons is a company with a 30 year pedigree and a major player in the Indian life sciences space. The focus of Tarsons is on labware products assisting scientific discovery. Here is a gist.
 

7 things to know about the Tarsons Products IPO


1) Tarsons Products is a life sciences company with focus on labware products. Its diversified life sciences product portfolio encompasses 1,700 SKUs across over 300 products. It manufactures laboratory consumables and also laboratory reusables.The addressable market for labware products is quite large in India.

2) Tarsons labware products find applications across a gamut of institutional clients including research organizations, pharmaceutical companies, academic institutes, contract research organizations, diagnostic companies, hospitals and medical labs. Tarsons also supplies its products to over 40 countries.

3) The IPO will be a combination of fresh issue and offer for sale (OFS). The fresh issue size will be Rs.150 crore while the OFS will be worth Rs.873.47 crore. This will take the total issue size to Rs.1,023.47 crore.

The price band for the IPO has been fixed at Rs.635-Rs.662 and the minimum application lot size will be of 22 shares.

4) The IPO will open for subscription on 15-November and close for subscription on 17-November. The basis of allotment will be finalized on 23-November while the refunds will be initiated on 24-November.

The shares will be credited to eligible investor demat accounts by 25-November while the stock will be listed on 26-November.

5) Tarsons currently has 5 manufacturing plants located across West Bengal supported by a network of 141 authorized distributors. The fresh issue component will be utilized by Tarsons to set up a new manufacturing facility in Panchia in West Bengal. Part of the funds will also be utilized to repay or prepay debt.

6) Tarsons is consistently profit making over last 3 years. For FY21, Tarsons reported revenues of Rs.234.92 crore and net profits of Rs.68.87 crore implying net margins of 29.3%.

The company has remained profitable in the June 2021 quarter also. Net margins have been above 20% in the last 3 years.

7) The Tarsons IPO will be lead managed by Edelweiss Financial Services, ICICI Securities and SBI Capital Markets. KFintech (formerly Karvy Computershare) has been appointed the registrar to the IPO.

The only overhang for the stock could be that Glenmark Life Sciences, which listed couple of months back, is currently quoting nearly 20% below the IPO price.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in November 2021

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

PharmEasy parent API Files for DRHP for IPO

PharmEasy parent API Files for DRHP for IPO
by 5paisa Research Team 10/11/2021

With the season of digital IPO in full swing, the high-profile PharmEasy was unlikely to be too far behind. The holding company of PharmEasy, API Holdings, has filed the draft red herring prospectus with SEBI for its proposed initial public offer. The total offer size is expected to be Rs.6,250 crore but that is open to modifications based on how the demand and market valuations pan out.

Like in the case of Policybazaar, Nykaa and Paytm, this is again a case of the digital brand being more popular and better identified compared to the holding company. Ahead of the IPO, PharmEasy also plans a pre-IPO placement worth Rs.1,250 crore.

If the pre-IPO placement is successful, then the size of the IPO will be reduced proportionately. The anchor demand is also expected to be robust in the case of PharmEasy.

PharmEasy provides an agnostic platform for consumers to access online consultations and also buy medicines on the net with the appropriate checks and balances. In terms of gross market value (GMV), PharmEasy is the largest player in the digital medicine space.

PharmEasy offers digital tools, healthcare information, teleconsulting, diagnostic tests, radiology tests; apart from selling medicines. PharmEasy was founded in 2015.

PharmEasy had recently acquired India’s largest diagnostic services provider Thyrocare. In the last round of funding, PharmEasy had been valued at $5.6 billion and the company is expecting a higher valuation in the IPO.

However, most of the early investors have reiterated their faith in the PharmEasy business model and chosen not to offer their shares in the IPO. Till date, PharmEasy has raised $1.2 billion in equity and debt funding.

Out of the fresh issue component, PharmEasy will use Rs.1,929 crore for debt repayment, Rs.1,250 crore for financing organic growth and expansion initiatives, while another Rs.1,500 crore will be allocated to inorganic growth via mergers and acquisitions. Most of these applications of fresh funds are likely to be value accretive for the company.

To make its business model more robust, PharmEasy plans to focus on the 3 key areas as under to enhance growth in revenues and market share.

A) Marketing investments to increase brand awareness and recall.
B) Supply chain infrastructure to facilitate seamless and omnichannel fulfilment
C) Technology capabilities and technology infrastructure. 

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in November 2021

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Nykaa IPO - Listing Day Performance

Nykaa IPO - Listing Day Performance
by 5paisa Research Team 10/11/2021

FSN E-Commerce Ventures (Nykaa) had a robust listing on 10th November as it listed at a premium of Rs.79.38%, but gained more heft to close at a broader premium to the issue price. The stock closed the day, well above the IPO price and also the listing price.

With overall subscription of 81.78X and GMP ranging from 80-85%, the listing was expected to be very robust. Here is the FSN E-Commerce Ventures (Nykaa) listing story on 10-Nov.

The Nykaa IPO price was fixed at the upper end of the band at Rs.1,125 after the 81.78X subscription. The price band for the IPO was Rs.1,085 to Rs.1,125 on 10th Nov, the stock of FSN E-Commerce Ventures (Nykaa) listed on the NSE at a price of Rs.2,018, a premium of 79.38% above the issue price of Rs.1,125. On the BSE, the stock listed at Rs.2,001 a premium of 77.87% over the issue price.

On the NSE, FSN E-Commerce Ventures (Nykaa) closed on 10-Nov at a price of Rs.2,208, a first day closing premium of 96.27% on the issue price. On the BSE, the stock closed at Rs.2,208.35, a first day closing premium of 96.3% on the issue price. On both the exchanges, the Nykaa stock not only held above the listing price but also closed at a premium.

On Day-1 of listing, FSN E-Commerce Ventures (Nykaa) touched a high of Rs.2,248 on the NSE and a low of Rs.2,000. It closed nearer to the high price of the day. On Day-1 of listing, the FSN E-Commerce Ventures (Nykaa) stock traded a total of 343.25 lakh shares on NSE amounting to value of Rs.7,172.30 crore.

Check - Nykaa IPO - Subscription Day 1

On 10-Nov, Nykaa was the most liquid stock on the NSE in terms of value and the 10th most liquid in terms of volumes.

On the BSE, FSN E-Commerce Ventures (Nykaa) touched a high of Rs.2,248.10 and a low of Rs.1994.10. On BSE, the stock traded a total of 16.21 lakh shares amounting to value of Rs.338.71 crore. Even on the BSE, Nykaa was ranked top in terms of value traded.

At the close of Day-1 of listing, FSN E-Commerce Ventures (Nykaa) had a market capitalization of Rs.104,361 crore with free-float market cap of just Rs.8,349 crore. The stock almost doubled over the issue price on day-1 of listing.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in November 2021

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order