Nifty 16750.75 (-2.59%)
Sensex 57696.46 (-1.31%)
Nifty Bank 36925.25 (2.01%)
Nifty IT 35848.05 (-0.86%)
Nifty Financial Services 17779.5 (-1.13%)
Adani Ports 757.45 (2.71%)
Asian Paints 2799.50 (-10.00%)
Axis Bank 687.20 (2.11%)
B P C L 362.00 (-6.19%)
Bajaj Auto 3616.60 (10.00%)
Bajaj Finance 7776.15 (10.00%)
Bajaj Finserv 16439.00 (-6.00%)
Bharti Airtel 700.00 (-2.55%)
Britannia Inds. 3909.10 (10.00%)
Cipla 1003.00 (9.97%)
Coal India 157.00 (-1.72%)
Divis Lab. 5232.00 (9.98%)
Dr Reddys Labs 4320.00 (-6.02%)
Eicher Motors 2310.00 (-5.93%)
Grasim Inds 1601.00 (-6.04%)
H D F C 2550.00 (-8.00%)
HCL Technologies 1101.00 (-6.01%)
HDFC Bank 1800.00 (18.93%)
HDFC Life Insur. 658.05 (-4.76%)
Hero Motocorp 2705.00 (9.85%)
Hind. Unilever 2109.30 (-10.00%)
Hindalco Inds. 467.00 (9.97%)
I O C L 125.00 (2.29%)
ICICI Bank 713.00 (-0.46%)
IndusInd Bank 878.00 (-7.69%)
Infosys 1699.00 (-2.11%)
ITC 221.00 (-0.29%)
JSW Steel 606.00 (-5.98%)
Kotak Mah. Bank 1797.00 (-6.12%)
Larsen & Toubro 1790.00 (-0.62%)
M & M 890.00 (6.34%)
Maruti Suzuki 6900.00 (-4.28%)
Nestle India 21253.45 (10.00%)
NTPC 129.50 (1.97%)
O N G C 150.00 (2.81%)
Power Grid Corpn 195.00 (-5.39%)
Reliance Industr 2048.00 (-14.96%)
SBI Life Insuran 1049.40 (-10.00%)
Shree Cement 24359.00 (-6.00%)
St Bk of India 565.00 (19.41%)
Sun Pharma.Inds. 707.00 (-5.96%)
Tata Consumer 729.05 (-5.84%)
Tata Motors 460.00 (-4.19%)
Tata Steel 1100.00 (-1.61%)
TCS 3481.00 (-4.38%)
Tech Mahindra 1497.00 (-6.04%)
Titan Company 2433.25 (2.70%)
UltraTech Cem. 6599.25 (-10.00%)
UPL 712.75 (0.00%)
Wipro 624.00 (-2.61%)

Tarsons Products IPO - Subscription Day 1

Tarsons Products IPO - Subscription Day 1
by 5paisa Research Team 15/11/2021

The Rs.1,023.47 crore IPO of Tarsons Products, consisting of a fresh issue of Rs.150 crore and an offer for sale (OFS) of Rs.873.47 crore, saw decent response on Day-1 of the IPO. As per the combined bid details put out by the BSE at the close of Day-1, Tarsons Products IPO was subscribed 1.09X overall, with reasonable demand coming from the retail segment only. The issue closes on 17th November.

As of close of 15th November, out of the 108.44 lakh shares on offer in the IPO, Tarsons Products saw bids for 118.39 lakh shares. This implies an overall subscription of 1.09X.

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

Tarsons Products IPO Subscription Day-1

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

0.00 Times

Non Institutional Investors (NII)

0.17 Times

Retail Individuals

2.12 Times

Employees

0.41 Times

Overall

1.09 times

 

QIB Portion

The QIB portion of the IPO was subscribed Nil times at the end of Day-1. On 12th November, Tarsons Products did an anchor placement of 46,21,757 shares at the upper end of the price band of Rs.662 to 32 anchor investors raising Rs.305.96 crore.

The list of QIB investors included a number of marquee global names like GIC Singapore, Monetary Authority of Singapore, First Sentier Investors, Theleme India Fund, Macquarie and Abu Dhabi Investment Authority (ADIA). Domestic anchor investors included Birla Mutual Fund, Sundaram MF, ICICI Pru MF, Kotak MF, L&T MF, Mirae MF, Reliance General Insurance; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 30.81 lakh shares of which it has got bids for Nil shares on Day-1, implying a subscription ratio of 0.00X 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 Tarsons Products IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 0.17X (getting applications for 3.90 lakh shares against the quota of 23.11 lakh shares). This is not a very representative 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 2.12X at the end of Day-1, showing decent retail appetite. It must be noted that retail allocation is 35% in this IPO. For retail investors; out of the 53.92 lakh shares on offer, valid bids were received for 114.25 lakh shares, which included bids for 88.47 lakh shares at the cut-off price.

The IPO is priced in the band of (Rs.635-Rs.662) and will close for subscription on 17th November 2021.

Also Read:-

Tarsons Products IPO - 7 Things to Know

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

PB Fintech (Policybazaar) IPO - Listing Day Performance

PB Fintech (Policybazaar) IPO - Listing Day Performance
by 5paisa Research Team 15/11/2021

PB Fintech (Policybazaar) had a strong listing on 15th November and listed at a premium of 17.35%, and closed the day well above the listing price. While the stock did show a sharp bounce during the day, it failed to hold on to higher levels.

With overall subscription of 16.59X and stable trading interest in the GMP market, the listing was expected to be strong.
 

Here is the PB Fintech (Policybazaar) listing story on 15-Nov.


The IPO price was fixed at the upper end of the band at Rs.980 considering the 16.59X subscription. The price band for the PB Fintech (Policybazaar) IPO was Rs.940 to Rs.980. On 15th Nov, the stock of PB Fintech (Policybazaar) listed on the NSE at a price of Rs.1,150, a premium of 17.35% above the issue price of Rs.980.

On the BSE also, the stock listed at Rs.1,150 a premium of 17.35% on the issue price.

On the NSE, PB Fintech (Policybazaar) closed on 15-Nov at a price of Rs.1,201.60, a first day closing premium of 22.61% on the issue price. On the BSE, the stock closed at Rs.1,202.90, a first day closing premium of 22.74% on the issue price.

On both the exchanges, the stock not only listed above the IPO issue price but closed Day-1 well above the listing price.

On Day-1 of listing, PB Fintech (Policybazaar) touched a high of Rs.1,248.90 on the NSE and a low of Rs.1,149. The premium held through the day. On Day-1 of listing, the PB Fintech (Policybazaar) stock traded a total of 363.79 lakh shares on NSE amounting to value of Rs.4,332.71 crore.


Check - Policybazaar IPO - Subscription Day 3

On 15-Nov, Policybazaar was the most active share on NSE by traded value. On the BSE, PB Fintech (Policybazaar) touched a high of Rs.1,249 and a low of Rs.1,145.

On BSE, the stock traded a total of 12.93 lakh shares amounting to value of Rs.153.47 crore. It was the second most active share on the BSE in terms of trading value.

At the close of Day-1 of listing, PB Fintech (Policybazaar) had a market capitalization of Rs.54,070 crore with free-float market cap of Rs.11,355 crore.

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

SJS Enterprises IPO - Listing Day Performance

SJS Enterprises IPO - Listing Day Performance
by 5paisa Research Team 15/11/2021

SJS Enterprises had a flat listing on 15th November at the issue price of Rs.542 but closed the day well below the issue price. While the stock did show a bounce during the day, it closed near to its intraday low levels.

With moderate subscription of 1.59X and limited trading interest in the GMP market, the listing was expected to be moderate to weak.

Here is the SJS Enterprises listing story on 15-Nov.

The IPO price was fixed at the upper end of the band at Rs.542 despite just a 1.59X subscription. The price band for the SJS Enterprises IPO was Rs.531 to Rs.542.

On 15th Nov, the stock of SJS Enterprises listed on the NSE at a price of Rs.542, exactly at the IPO issue price. On the BSE, the stock listed at Rs.540 a minor discount of -0.37% on the issue price.

On the NSE, SJS Enterprises closed on 15-Nov at a price of Rs.510, a first day closing discount of -5.90% on the issue price.

Check - SJS Enterprises Ltd IPO - Subscription Day 3

On the BSE, the stock closed at Rs.509.85, a first day closing discount of -5.93% on the issue price. On both the exchanges, the stock listed around the IPO issue price but closed Day-1 well below the listing price.

On Day-1 of listing, SJS Enterprises touched a high of Rs.551 on the NSE and a low of Rs.505.60. The closing was near to the low of the day.

On Day-1 of listing, the SJS Enterprises stock traded a total of 54.44 lakh shares on NSE amounting to value of Rs.289.09 crore. It did not feature among the top trades on value or on volumes on the NSE.

On the BSE, SJS Enterprises stock touched a high of Rs.551 and a low of Rs.505.50. On BSE, the stock traded a total of 2.25 lakh shares amounting to value of Rs.11.90 crore. It was not among the most active shares on the BSE.

At the close of Day-1 of listing, SJS Enterprises had a market capitalization of Rs.1,551.88 crore with free-float market cap of Rs.527.64 crore.

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

Sigachi Industries IPO - Listing Day Performance

Sigachi Industries IPO - Listing Day Performance
by 5paisa Research Team 15/11/2021

Sigachi Industries had an incredibly strong listing on 15th November and listed at a premium of 250%, and closed the day at 5% upper circuit. The stock remained locked in upper circuit for the best part of the day. With overall subscription of 101.91X and solid trading interest in the GMP market, the listing was expected to be very strong.
 

Here is the Sigachi Industries listing story on 15-Nov.


The IPO price was fixed at the upper end of the band at Rs.163 considering the 101.91X subscription. The price band for the Sigachi Industries IPO was Rs.161 to Rs.163.

On 15th Nov, the stock of Sigachi Industries listed on the NSE at a price of Rs.570, a premium of 250% above the issue price of Rs.163. On the BSE, the stock listed at Rs.575 a premium of 253% on the issue price.

On the NSE, Sigachi Industries closed on 15-Nov at the upper circuit price of Rs.598.50, a first day closing premium of 267% on the issue price. On the BSE, the stock closed at the upper circuit of Rs.603.75, a first day closing premium of 270% on the issue price.

On both the exchanges, the stock not only listed at a huge premium to the IPO price but also closed Day-1 locked in 5% upper circuit.

On Day-1 of listing, Sigachi Industries touched a high of Rs.598.50 on the NSE and a low of Rs.570. The stock closed on upper circuit. On Day-1 of listing, the Sigachi Industries stock traded a total of 14.98 lakh shares on NSE amounting to value of Rs.87.12 crore.

It did not feature among the top trades on value or on volumes on NSE.

On the BSE, Sigachi Industries touched a high of Rs.603.75 and a low of Rs.570.45. On BSE, the stock traded a total of 5.62 lakh shares amounting to value of Rs.33.68 crore. It was not among the most active shares on the BSE.

At the close of Day-1 of listing, Sigachi Industries had a market capitalization of Rs.1,856 crore with free-float market cap of Rs.334 crore.

Also Read:- 

Upcoming IPOs in 2021

Upcoming IPOs in November 2021

How to Check Allotment Status of Sigachi Industries IPO

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

Latent View Analytics IPO Allotment - How to check the allotment status ?

Latent View Analytics IPO Allotment - How to check the allotment status
by 5paisa Research Team 15/11/2021

The Rs.600 crore IPO of Latent View Analytics, consisting of Rs.474 crore fresh issue and Rs126 crore OFS, was subscribed a whopping 326.49X overall at the close of bidding on 12th November. The basis of allotment will be finalized on 17th November and the stock will be listed on 23rd November. If you have applied for the Latent View Analytics IPO, you can check your allotment status online.

You can either check your allotment status on the BSE website or the IPO registrar, Link Intime. Here are the steps.

Checking the allotment status of Latent View Analytics on BSE website

Visit the BSE link for the IPO allotment by clicking on the link below https://www.bseindia.com/investors/appli_check.aspx

Once you reach the page, here are the steps to follow.

1) Under Issue Type – Select Equity Option.
2) Under Issue Name – Select Latent View Analytics from the drop down box.
3) Enter the Application Number exactly as in the acknowledge slip.
4) Enter the PAN (10-digit alphanumeric) number.
5) Once this is done, you need to click on the Captcha to verity that you are not a robot.
6)  Finally click on the Search Button.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Latent View Analytics allotted to you.
 

Check - Latent View Analytics IPO - 7 Things to Know


Checking the allotment status of Latent View Analytics on Link Intime (IPO Registrar)

Visit the Link Intime registrar website for IPO status by clicking on the link below:
https://linkintime.co.in/MIPO/Ipoallotment.html

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Latent View Analytics from the drop down box.

A) There are 3 options. You can either access the allotment status based on PAN, Application Number or DPID-Client ID combination.

B) Select the appropriate option you want to use and enter the details (PAN / Application Number / DPID-Client ID)

C) Finally, click on the Search button.

The IPO status with number of shares of Latent View Analytics allotted will be displayed on the screen.

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

Are Peak Margin Norms Serving their Purpose?

Are Peak Margin Norms Serving their Purpose?
by Sheetal Agarwal 16/11/2021

Peak margin norms were implemented in totality with effect from September 1, 2021. Two and a half months down the line, we deep dive into the causes and effects of this move, and provide some suggestions for the future.
 

What are peak margin norms?


Aimed at curbing speculative trading and restricting leverages offered by stockbrokers to their clients, peak margin norms were first implemented in December 2020. As per these norms, traders need to give 100% margin upfront for their trades. This is in stark contrast with the earlier practice of collecting margin at the end of the day.

Peak margin is calculated on the basis of the highest margin utilized by the client during the day. The stock exchange takes four snapshots of margin utilization of client during the day and the broker has to collect the highest margin utilized from the client.

These norms have been implemented in a gradual manner starting December 2020 when 25% upfront margin was introduced. In the second and third phases, this metric was increased to 50% and 75%, respectively.

The final leg came into effect from September 1, 2021 wherein stockbrokers face a penalty (of 0.5% to 5%), if margins collected from traders is less than 100% of trade value in the case of cash market stocks and an additional SPAN + Exposure for derivatives trade.
 

Why were peak margin norms introduced?


Primary objective of peak margin norms is to curb speculative trading and restrict leverages offered by stockbrokers to their clients. Earlier, margins could reach upto 30-40 times. Simply put, a client having ₹10,000 as margin was able to place a trade worth ₹4 lakh.

This in turn had a multiplier effect, exposing clients to higher risks of losses during volatile markets and the brokers to higher future bad debts. With peak margin norms in place, clients have to pay margin money upfront for intraday trades, limiting the potential losses.
 

Check - Peak Margins Norms from 1st September
 

What has been the impact so far?


After announcement of new norms, there were widespread concerns that intra-day trade will be impacted adversely. This is because, traders are required to set aside more cash towards fulfilling margin requirements for trade. Also, trading in futures and options (F&O) could become more expensive. Has this theory played out?

Let us understand in detail. Since April 2020 till date, Nifty50, Nifty Midcap 50 and Nifty Smallcap 50 indices have given handsome returns. This upward wave also applies to the last 12 months, wherein Nifty50, Nifty Midcap 50 and Nifty Smallcap 50 rallied by about 50%, 60% and 90%, respectively.
 

image


Historically, during bull markets, most retail customers trade in cash markets staying clear of high speculations in the derivatives segment. Ideally, implementation of the peak margin norms should have curbed derivatives turnover to an extent, and should not have had impacted the cash market turnover.

However, the chart tells a different tale. Average Daily Turnover (ADTO) in the derivatives segment has headed north consistently. And despite the market being euphoric, the cash market turnover has remained volatile.

Statistically speaking, ADTO in the derivatives segment have surged 5.37 times between April 2020 and October 2021; while those in the cash segment have risen just by 1.43 times in the same time frame. 
 

What do we suggest?


Healthy volumes in cash market are a pre-requisite for markets owing to several reasons. First, cash market is less risky when it comes to intraday trade, owing to its smaller size relative to the derivatives segment. The minimum lot size in derivatives is approximately between ₹5 lakh to ₹10 lakh.

Second, intraday volumes in the cash market provide much-needed liquidity for larger delivery trades. It provides depth in the market for any institutional buying, or any other high volume buying in delivery. A low exchange volume pulls out that liquidity from the system. Lack of liquidity has a direct impact on the buying and selling of large volumes which is detrimental to growth.

If the cash market turnover remains stagnated even in a bull market, the impact could aggravate during the downturn.

While peak margin norms are a step in the right direction, they have not achieved the intended outcome. In this scenario, SEBI along with the stock exchanges should relook at the exposure being provided in the cash segment vis-à-vis that in the derivatives segment.

Regulators have several options including:

A) Reducing the margins for intraday in the cash segment and keeping a differential margin for cash and derivatives.

B) Increasing the allowed limit for trading from 1 to 1.5 or 2 times of margin in cash and keeping the derivatives at 1 time only.

Staying true to the idea of curbing speculation, above measures could still maintain liquidity in the system and keep a tab on the risks. Overall, regulators have to walk a tight rope to balance the risks without hurting growth and liquidity of the markets.

Also Read:

5paisa: Because Every Paisa Counts

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