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Sapphire Foods India IPO - Subscription Day 2

Sapphire Foods India IPO - Subscription Day 2
by 5paisa Research Team 10/11/2021

The Rs.2,073 crore IPO of Sapphire Foods India, consisting entirely of an offer for sale (OFS) of Rs.2,073 crore, saw subdued response on Day-1 of the IPO. As per the combined bid details put out by the BSE at the close of Day-2, Sapphire Foods India IPO was subscribed 1.07X overall, with strong demand coming only from the retail segment. The issue closes on 11th November.

As of close of 10th November, out of the 96.63 lakh shares on offer in the IPO, Sapphire Foods India saw bids for 103.69 lakh shares. This implies an overall subscription of 1.07X. The granular break-up of subscriptions was dominated by the retail investors. QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.
 

Sapphire Foods India IPO Subscription Day-2
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.03 Times

Non Institutional Investors (NII)

0.29 Times

Retail Individuals

5.38 Times

Employees

N.A.

Overall

1.07 times

 

QIB Portion

The QIB portion of the IPO was subscribed just 0.03 times at the end of Day-2. On 08th November, Sapphire Foods India did an anchor placement of 79,06,473 shares at the upper end of the price band of Rs.1,180 to 53 anchor investors raising Rs.932.96 crore.

The list of QIB investors included a number of marquee global names like Government of Singapore, MAS, Fidelity, ADIA, Crestwood Capital, HSBC Global, Lion Global, Carmignac Ontario Teacher’s Pension Fund etc. Domestic anchor investors included ICICI Pru Life, Sundaram Mutual Fund, Bajaj Allianz, HDFC MF, Kotak MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 52.71 lakh shares of which it has got bids for 1.47 lakh shares, implying a subscription ratio of 0.03X for QIBs at the close of Day-2. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement forebodes well for the Sapphire IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 0.29X (getting applications for 7.75 lakh shares against the quota of 26.35 lakh shares). This is a tepid response on Day-2 but this segment normally sees the maximum response bunched on the last day. That is because, bulk of the funded applications and corporate applications, come in on the last day of the IPO.

Retail Individuals

The retail portion was subscribed an impressive 5.38X at the end of Day-2, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 17.57 lakh shares on offer, valid bids were received for 94.46 lakh shares, which included bids for 74.28 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.1,120-Rs.1,180) and will close for subscription on 11th November 2021.

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Bank of Baroda - Q2 Results

by 5paisa Research Team 10/11/2021

The profit growth showed by Bank of Baroda in the second quarter of FY22 was driven by lower interest costs and a sharply lower provisions for asset quality. This allowed the net profit to grow at 22.39% YoY to Rs.2,168 crore. Here is the story of the BOB results for Q2.


Bank of Baroda top line revenues were virtually flat, growing by just about 0.63% as lower interest yields on loans and investments put pressure. Revenues for the quarter came in at Rs.21,999 crore. In the June quarter, the revenues of BOB stood at Rs.21,249 crore.
 

Bank of Baroda Q2 Results
 

Rs in Crore

Sep-21

Sep-20

YOY

Jun-21

QOQ

Total Income (Rs cr)

₹ 21,998.76

₹ 21,861.23

0.63%

₹ 21,249.19

3.53%

Net Profit (Rs cr)

₹ 2,167.85

₹ 1,771.21

22.39%

₹ 1,186.54

82.70%

Diluted EPS (Rs)

₹ 4.19

₹ 3.83

 

₹ 2.29

 

Net Margins

9.85%

8.10%

 

5.58%

 

 

If you look at the 3 major revenue segments of treasury, retail and wholesale banking, the picture of revenues was mixed. Revenues from treasury were flat yoy. While revenues from wholesale banking were down -16% at Rs.6,920 crore, the revenues from retail banking were up 10% at Rs.7,103 crore.

Ironically, the picture on divisional operating profit was the opposite. Wholesale banking saw operating profits grow 17-fold to Rs.1,042 crore while on the other hand, the operating profits from retail banking fell -21% at Rs.7,103 crore. The reason was asset quality pressures in the retail book.

Net profits for the Sep-21 quarter increased by 22.39% at Rs.2,168 crore, despite flat revenues. This higher profit was largely attributed to sharply lower interest cost expended and also lower asset quality provisions made in the quarter. The net profit was 83% above the Jun-21 levels as the bank had made a huge provision in the Jun-21 quarter.

During the Sep-21 quarter, the ratio of current and savings accounts or CASA had improved by 368 bps. During the same period, the cost to income ratio reduced by about 70 bps to 48.54%. The net interest margins or NIM expanded by 7 bps to 2.85%, but this is still way below the private sector peer group levels.
Gross NPAs for the quarter dropped 100 bps to 8.11%, but remains fairly high on absolute basis.

Net profit margin for the Sep-21 quarter stood at 9.85% compared to 8.10% in Sep-21 quarter and a much lower level of 5.58% in sequential Jun-21 quarter.

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Latent View Analytics IPO - Subscription Day 1

Latent View Analytics IPO  - Subscription Day 1
by 5paisa Research Team 10/11/2021

The Rs.600 crore IPO of Latent View Analytics, consisting of a fresh issue of Rs.474 crore and an offer for sale (OFS) of Rs.126 crore, saw robust response on Day-1 of the IPO.

As per the combined bid details put out by the BSE at the close of Day-1, Latent View Analytics IPO was subscribed 6.39X overall, with reasonable demand coming from the retail segment followed by the HNI segment. The issue closes on 12th November.

As of close of 10th November, out of the 175.26 lakh shares on offer in the IPO, Latent View Analytics saw bids for 1,119.07 lakh shares. This implies an overall subscription of 6.39X.

The granular break-up of subscriptions was dominated by the retail investors followed by HNIs. QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.
 

Latent View Analytics IPO Subscription Day-1
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.15 Times

Non Institutional Investors (NII)

2.42 Times

Retail Individuals

31.62 Times

Employees

1.24 Times

Overall

6.39 times

 

QIB Portion

The QIB portion of the IPO was subscribed just 0.15 times at the end of Day-1. On 09th November, Latent View Analytics did an anchor placement of 1,35,53,898 shares at the upper end of the price band of Rs.197 to 34 anchor investors raising Rs.267.01 crore.

The list of QIB investors included a number of marquee global names like Abu Dhabi Investment Authority (ADIA), Ashoka India Fund, Hornbill Orchid and Wellington Fund. Domestic anchor investors included Birla Mutual Fund, Axis MF, ICICI Pru MF, Kotak MF, Mirae MF, SBI Life, Bajaj Allianz, UTI MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 93.68 lakh shares of which it has got bids for 13.64 lakh shares, implying a subscription ratio of 0.15X for QIBs at the close of Day-1. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement forebodes well for the Latent View IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 2.42X (getting applications for 113.58 lakh shares against the quota of 46.84 lakh shares). This is a strong response on Day-1 because this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO.

Retail Individuals

The retail portion was subscribed an impressive 31.62X at the end of Day-1, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 31.23 lakh shares on offer, valid bids were received for 987.50 lakh shares, which included bids for 787.80 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.190-Rs.197) and will close for subscription on 12th November 2021.

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Latent View Analytics IPO subscription Day-2

Latent View IPO Day 2 Subscription
by 5paisa Research Team 10/11/2021

The Rs.600 crore IPO of Latent View Analytics, consisting of a fresh issue of Rs.474 crore and an offer for sale (OFS) of Rs.126 crore, saw robust response on Day-1 of the IPO. As per the combined bid details put out by the BSE at the close of Day-2, Latent View Analytics IPO was subscribed 23.22X overall, with strong demand coming from the retail and HNI segments followed by the QIB segment. The issue closes on 12th November.

As of close of 11th November, out of the 175.26 lakh shares on offer in the IPO, Latent View Analytics saw bids for 4,069.77 lakh shares. This implies an overall subscription of 23.22X. The granular break-up of subscriptions was dominated by the retail investors followed by HNIs. QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.

Latent View Analytics IPO Subscription Day-2

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

3.51 Times

Non Institutional Investors (NII)

33.29 Times

Retail Individuals

69.56 Times

Employees

2.61 Times

Overall

23.22 times

 

QIB Portion

The QIB portion of the IPO was subscribed 3.51 times at the end of Day-2. On 09th November, Latent View Analytics did an anchor placement of 1,35,53,898 shares at the upper end of the price band of Rs.197 to 34 anchor investors raising Rs.267.01 crore. The list of QIB investors included a number of marquee global names like Abu Dhabi Investment Authority (ADIA), Ashoka India Fund, Hornbill Orchid and Wellington Fund. Domestic anchor investors included Birla Mutual Fund, Axis MF, ICICI Pru MF, Kotak MF, Mirae MF, SBI Life, Bajaj Allianz, UTI MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 93.68 lakh shares of which it has got bids for 329.08 lakh shares, implying a subscription ratio of 3.51X for QIBs at the close of Day-2. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement forebodes well for the Latent View IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 33.29X (getting applications for 1,559.22 lakh shares against the quota of 46.84 lakh shares). This is a strong response on Day-2 because this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO. 

Retail Individuals

The retail portion was subscribed an impressive 69.56X at the end of Day-2, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 31.23 lakh shares on offer, valid bids were received for 2,172.32 lakh shares, which included bids for 1,741.32 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.190-Rs.197) and will close for subscription on 12th November 2021.

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Sapphire Foods India IPO subscription Day-3

Saphhire Foods IPO Day 3 Subscription
by 5paisa Research Team 10/11/2021

The Rs.2,073 crore IPO of Sapphire Foods India, consisting entirely of an offer for sale (OFS) of Rs.2,073 crore, saw subdued response on Day-1 of the IPO but managed to get fully subscribed at the end of Day-2. As per data put out by the BSE at the close of Day-3, Sapphire Foods India IPO was subscribed 6.62X overall, with strong demand coming from the retail segment followed by QIBs. The issue has closed on 11th November.

As of close of 11th November, out of the 96.63 lakh shares on offer in the IPO, Sapphire Foods India saw bids for 639.45 lakh shares. This implies an overall subscription of 6.62X. The granular break-up of subscriptions was dominated by the retail investors followed by QIB bids. As expected, the QIB bids and NII bids did gather momentum on the last day, as is the general trend in the IPO market.

Sapphire Foods India IPO Subscription Day-3

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

7.50 Times

Non Institutional Investors (NII)

3.46 Times

Retail Individuals

8.70 Times

Employees

N.A.

Overall

6.62 times


QIB Portion

The QIB portion of the IPO was subscribed a good 7.50 times at the close of Day-3. On 08th November, Sapphire Foods India did an anchor placement of 79,06,473 shares at the upper end of the price band of Rs.1,180 to 53 anchor investors raising Rs.932.96 crore. The list of QIB investors included a number of marquee global names like Government of Singapore, MAS, Fidelity, ADIA, Crestwood Capital, HSBC Global, Lion Global, Carmignac Ontario Teacher’s Pension Fund etc. Domestic anchor investors included ICICI Pru Life, Sundaram Mutual Fund, Bajaj Allianz, HDFC MF, Kotak MF; among others.
The QIB portion (net of anchor allocation as explained above) has a quota of 52.71 lakh shares of which it has got bids for 395.27 lakh shares, implying a subscription ratio of 7.50X for QIBs at the close of Day-3. QIB bids typically get bunched on the last day and they managed to boost the subscription for Sapphire IPO overall.

HNI / NII Portion

The HNI portion got subscribed 3.46X (getting applications for 91.25 lakh shares against the quota of 26.35 lakh shares). This is a much better response on Day-3 and this segment normally sees the maximum response bunched on the last day. That is because, bulk of the funded applications and corporate applications, come in on the last day of the IPO. 

Retail Individuals

The retail portion was subscribed an impressive 8.70X at the end of Day-3, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 17.57 lakh shares on offer, valid bids were received for 152.93 lakh shares, which included bids for 119.37 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.1,120-Rs.1,180) and has closed for subscription on 11th November 2021.

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Fino Payments Bank IPO Lists at Discount and Stays Lower

Fino Payments Bank IPO Lists at Discount and Stays Lower
by 5paisa Research Team 12/11/2021

Fino Payments Bank had a weak listing on 12th November and listed at a discount of -5.66%, and closed the day below the listing price. While the stock did show a bounce during the day, it failed to hold on to higher levels.

With overall subscription of just 2.03X and limited trading interest in the GMP market, the listing was expected to be weak.
 

Here is the Fino Payments Bank listing story on 12-Nov


The Fino Payments Bank IPO price was fixed at the upper end of the band at Rs.577 despite the mere 2.03X subscription. The price band for the IPO was Rs.560 to Rs.577.

On 12th Nov, the stock of Fino Payments Bank listed on the NSE at a price of Rs.544.35, a discount of -5.66% below the issue price of Rs.577. On the BSE, the stock listed at Rs.548 a discount of -5.03% on the issue price.

On the NSE, Fino Payments Bank closed on 12-Nov at a price of Rs.535.45, a first day closing discount of -7.2% on the issue price. On the BSE, the stock closed at Rs.545.25, a first day closing discount of a more moderate -5.5% on the issue price.

On both the exchanges, the stock not only listed below the IPO price but closed Day-1 below the listing price. On Day-1 of listing, Fino Payments Bank touched a high of Rs.582.95 on the NSE and a low of Rs.511.05. The damage was limited below the listing price.

Check - Fino Payments Bank - Subscription Day 1

On Day-1 of listing, the Fino Payments Bank stock traded a total of 101.13 lakh shares on NSE amounting to value of Rs.548.25 crore. It did not feature among the top trades on value or on volumes on NSE.

On the BSE, Fino Payments Bank touched a high of Rs.583.35 and a low of Rs.510.80. On BSE, the stock traded a total of 6.24 lakh shares amounting to value of Rs.33.85 crore. It was not among the most active shares on the BSE.

At the close of Day-1 of listing, Fino Payments Bank had a market capitalization of Rs.4,537.26 crore with free-float market cap of just Rs.635.22 crore.

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