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Paras Defence & Space Technologies IPO Subscription Day 3

Paras Defence & Space Technologies IPO Subscription Day - 3
by 5paisa Research Team 23/09/2021

The Rs.170.78 crore IPO of Paras Defence & Space Technologies consists of a fresh issue of Rs.140.60 crore and an offer for sale or OFS of Rs.30.18 crore. The issue was fully subscribed on Day-1 itself and by the end of Day-3 it was heavily oversubscribed. As per the combined bid details put out by the BSE, Paras Defence & Space Technologies IPO was subscribed 304.26X overall at the close of Day-3 of the IPO. The bulk of the demand came from the HNI segment followed by QIBs and retail. The issue closed on Thursday, 23rd September.

Check: Paras Defence & Space Technologies IPO Subscription Day-2

As of close of 23rd September, out of the 71.41 lakh shares on offer in the IPO, Paras Defence & Space Technologies saw bids for 21,726.32 lakh shares. This implies an overall subscription of 304.26X. The granular break-up of subscriptions saw all the 3 segments robust at the close of Day-3. QIB bids surged on the last day of the IPO.

Paras Defence & Space Technologies IPO Subscription Day - 3
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

169.65 Times

Non Institutional Investors (NII)

927.70 Times

Retail Individuals

112.81 Times

Employees

N.A.

Overall

304.26 times

 

QIB Portion

The QIB subscription was subscribed 169.65 times at the close of Day-3. On 20 September, Paras Defence & Space Technologies did an anchor placement of 29.275 lakh shares at the upper end of the price band of Rs.175, raising Rs.51.23 crore. The list of QIB investors including a number of marquee names like Ashoka India Equity, Abakkus Emerging Opportunities Fund, Saint Capital, Nippon India Fund and HDFC Mutual Fund.

The QIB portion (net of anchor allocation) has a quota of 20.18 lakh shares of which it has got bids for 3,423.38 lakh shares, implying a subscription ratio of 169.65X for QIBs at the close of Day - 3. QIB bids, as usual, got bunched on the last day but the net impact was still positive.

HNI Portion

The HNI portion got subscribed 927.70X (getting applications for 14,257.44 lakh shares against the quota of 15.37 lakh shares). This issue saw robust response from Day-1 and this phenomenal response could be due to the small size of the IPO. Bulk of the funded applications and corporate applications came in on the last day.

Retail Individuals

The retail portion was subscribed a whopping 112.81X at the close of Day-3, showing strong retail appetite. For retail investors; out of the 35.86 lakh shares on offer, valid bids were received for 4,045.49 lakh shares, including bids for 3,066.90 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.165-Rs175) and has closed on 23rd September.

Also Read:-

Paras Defence IPO - 7 things to know

Upcoming IPOs in 2021

Upcoming IPOs in September 2021

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Realty Index Touches All Time High After Record Home Sales by Godrej

Realty Index All Time High
by 5paisa Research Team 23/09/2021

In a market that has been largely obsessed with the rally in metal, FMCG and financial stocks, the realty story has been ignored. But the returns on some of realty stocks have been amazing. The Nifty Realty Index gained 8.6% on 22-Sep and it gained nearly 15% in 3 days. To top it all, the Nifty Realty Index is already trading at an all-time high. In the last 1 year, the Nifty Realty index is up 122%.

The table below captures the spike in major realty stocks from the lows of last one-year.
 

Stock Name

CMP (23 Sep)

52-Week Low

Returns from low

DLF Ltd

Rs.402.90

Rs.142.50

182.74%

Godrej Properties

Rs.2,182.05

Rs.819.75

166.18%

Macrotech Developers

Rs.1,105.00

Rs.422.60

148.46%

Prestige Estates

Rs.454.40

Rs.222.20

104.50%

Sobha Ltd

Rs.812.00

Rs.200.25

305.49%

Brigade Enterprises

Rs.421.00

Rs.154.55

172.40%

 

Data Source: NSE

The outperformance of realty companies in the last one year has been absolutely emphatic. The latest trigger came when Godrej Properties managed to sell property bookings worth Rs.575 crore in a single day, on launching its NCR project. The outperformance has been visible across companies that are prominent in key realty markets of India like Mumbai, NCR and Bengaluru. These are the companies that benefited the most.

The state governments have also helped the cause. For example, Mumbai alone is expected to see about 7,000 property registrations in Sep-21. Karnataka state has cut stamp duty on mid-range flats from 5% to 3%. Mumbai had adopted a similar strategy of waiving registration charges for properties some time ago.

Are there more fundamental triggers?

Rates are at historic lows with home loans available at around 6.6% for high-rated borrowers. There are a lot of global credit funds that have become active in India and are trying to fill the void left by NBFCs in realty funding. The net result is that Indian realty is finally looking up after a long spell of quiescence. That is good for asset classes overall.

Also Read: NSE Revises Stock Selection Criteria for Nifty Indices

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Sansera Engineering IPO lists at 9.07% premium but holds above Rs.800

Sansera Engineering IPO
by 5paisa Research Team 24/09/2021

Sansera Engineering had a sound listing on 24th September as it listed at a better premium than indicated by the GMP and managed to hold on to the gains. Sansera Engineering listed at a premium of 9.07% and traded through the day in a range of Rs.40. The stock closed the day, well above the listing price. With overall subscription of 11.47X, listing response was in line with the sound subscription. Here is the Sansera Engineering listing story on 24 September.

The Sansera Engineering IPO price was fixed at the upper end of the band at Rs.744 after the 11.47X subscription. The price band for the IPO was Rs.734 to Rs.744. On 24 Sep, the stock of Sansera Engineering listed on the NSE at a price of Rs.811.50, a premium of 9.07% over the issue price. On the BSE, the stock listed at a price of Rs.811.35, a listing premium of 9.05%.

On the NSE, Sansera Engineering closed on 24-Sep at a price of Rs.818.05, a first day closing premium of 9.95% over the issue price. On the BSE, the stock closed at Rs.818.70, a first day closing premium of 10.04% over the issue price. On both the exchanges, the stock of Sansera managed to hold and marginally build on its listing premium quite effectively.

On Day-1 of listing, Sansera Engineering touched a high of Rs.841.95 on the NSE and a low of Rs.801. On Day-1 of listing, the Sansera Engineering stock traded a total of 125.20 lakh shares on NSE amounting to value of Rs.1,028.89 crore. On Day-1, Sansera Engineering was the fourteenth most liquid stock on the NSE by trading value.

On the BSE, Sansera Engineering touched a high of Rs.842 and a low of Rs.800.80. On BSE, the stock traded a total of 11.43 lakh shares amounting to value of Rs.94.15 crore. On Day-1, Sansera Engineering was the thirteenth most liquid stock on the BSE by trading value.

At the close of Day-1 of listing, Sansera Engineering had a market capitalization of Rs.4,206 crore with free-float market cap of just Rs.1,010 crore. 

 

Also Read: 

Sansera Engineering IPO - 7 Things to Know

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Sensex Touches a Historic Mark of 60,000 Points

Sensex Touches a Historic Mark of 60,000 Points
by 5paisa Research Team 24/09/2021

The Sensex scaled the psychological 60,000 mark on Friday 24th September. After the stupendous 958 points rally in the Sensex on Thursday, the general expectation was that the Sensex would cool down on Friday. But a mix of heavy buying and short covering has taken Sensex beyond the 60,000 levels. Some numbers are actually amazing.

Since the lows of March 2020, at the peak of the pandemic, the Sensex has rallied by 134%. If you just look at the 9 months of 2021, the Sensex returns stand at an unbelievable 26.17%. But the biggest surprise is that the last rally of 5,000 points from the level of 55,000 to 60,000 on the Sensex, happened in 28 trading sessions flat.

There have been 3 critical factors that drove the rally in the Sensex.

A) Few people expected that the pandemic impact would be so severe on India in 2020. But, virtually nobody expected that the recovery from lower levels would be so stupendous. IIP is back to pre-COVID levels and GDP is also almost at pre-COVID levels.

Above all, the aggressive vaccination drive has inoculated over 85 crore Indians and promises to complete the full process for adults by December. That is absolutely possible at the current rate of 1.50 crore vaccines per day.

B) If economy is recovering, Indian corporates have become leaner and smarter. Cost cuts, debt reduction and inventory tweaks have been the big themes of the last 1 year.

Debt equity ratio is the lowest in the last 20 years for Indian corporates. Despite the rise in inputs costs, most companies have managed through better rightsizing of administrative costs and inventories.

C) The big punch came from the FED, which has given a rather ambiguous statement. The markets have interpreted the statement as a signal that the Fed is unlikely to act in the immediate future.

After all, with the Evergrande crisis in China and the impending debt ceiling meeting in October, the markets are almost certain that the Fed would remain indecisive. That is what, perhaps, really gave wings to the Nifty and Sensex.

Also Read :- What the FED Meeting Outcome Mean for Global and Indian Markets?

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Subhash Chandra Takes Up a Good Deal on his Zee Stake

Subhash Chandra Takes Up a Good Deal on his Zee Stake
by 5paisa Research Team 24/09/2021

One week is a long time in the history of any business. We saw that live in the previous week as the erstwhile controlling promoters of Zee moved from a defensive position to a position of strength. Let us first rewind to Monday, 13th September.

That was the day, the stock of Zee saw a sudden rally. There were reports that two large institutional investors of Zee, viz. INVESCO and OFI China Fund wanted Punit Goenka, the son of Subhash Chandra, to resign from the position of MD and CEO. 

Their contention was that for the 3.44% holding in Zee Entertainment, the Subhash Chandra family was exercising inordinate clout. It was also confirmed that two directors; Ashok Kurien and Manish Chokhani had already resigned from the Zee Board.

If that looked like end-game for the Subhash Chandra family, that would have been a gross misjudgement. By 20th September, Zee Entertainment had announced a mega merger with Sony Pictures.

The idea was to combine the sports and general entertainment franchise of Sony Pictures with the strong regional content franchise of Zee. The term sheet also specified that Punit Goenka will continue as MD & CEO for 5 years.

Also Read :- What does the Zee merger with Sony mean?

If that looked like a symbolic victory for Subhash Chandra, more is on the way. The family stake was to get diluted from 3.44% to 2% due to the deal. However, Sony has topped up with an additional 2% stake to Subhash Chandra as part of the non-compete clause. 

This 2% will be given to Subhash Chandra out of the Sony Pictures stake. Effectively, Sony will end with just about 50.93% stake. In addition, Subhash Chandra also gets the option to increase this stake from 4% to 20% subject to terms and conditions. 

Sony has had it good too. While they are infusing $1.4 billion in cash into the new entity, they get access to the vast library and regional content stack of Zee. That is the perfect launching pad for its OTT initiatives and to take on the might of Disney Hotstar in India. In a way, it is good that the promoter does not lose control over his brainchild.

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BTST/STBT Trading Tips for Today: 24th September, 2021

BTST/STBT Trading Tips for Today
24/09/2021

5paisa analysts bring the best intraday ideas, short-term ideas and long-term ideas for you. In the morning we provide best momentum stocks to buy today, while in the last trading hour we provide Buy Today Sell Tomorrow (BTST) and Sell Today Buy Tomorrow (STBT) ideas.

BTST/STBT Trading Ideas for Today

1. BTST : NIITLTD

- Current Market Price: Rs.380

- Stop Loss: Rs.374

- Target: Rs.395

 

2. STBT : SRTRANSFIN SEP FUT

- Current Market Price: Rs.1,353

- Stop Loss: Rs.1,366

- Target: Rs.1,325

 

3. STBT : INDIAMART SEP FUT

- Current Market Price: Rs.8,476

- Stop Loss: Rs.8,517

- Target: Rs.8,380

 

4. BTST : KAJARIACER

- Current Market Price: Rs.1,227

- Stop Loss: Rs.1,212

- Target: Rs.1,265

 

5. BTST : GHCL

- Current Market Price: Rs.421

- Stop Loss: Rs.416

- Target: Rs.434
 

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