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Tracxn Technologies IPO - 7 Things to Know

Tracxn Technologies IPO - 7 Things to Know
by 5paisa Research Team 23/11/2021

Tracxn Technologies, which had filed DRHP with SEBI for its proposed IPO in mid-Aug 2021 has got SEBI approval for its IPO. Here is what you need to know.
 

Seven thing to know about the Tracxn Technologies IPO


1) The Tracxn Technologies IPO will entirely be an offer for sale. The OFS will comprise of 3,86,72,208 shares offered by the promoters and early investors in the company.

Since there is no fresh issue component, there will be no fresh funds coming and no change in the capital size, except for some change in ownership.

2) Out of the OFS of nearly 3.87 crore shares, Elevation Capital will offer 1.09 crore shares, Accel India will offer 40.2 lakh shares and SCI Investments will offer 21.81 lakh shares.

In addition, the 2 Flipkart founders, Binny Bansal and Sachin Bansal, will offer 12.63 lakh shares each. Promoters Neha Singh and Abhishek Goyal will sell 76.62 lakh shares each.

3) Tracxn Technologies is among the leading providers of market intelligence pertaining to private unlisted companies and start-ups.

It operates on the Software as a Service (SaaS) model. With its large mined start-up and unlisted company database, it has a subscription based revenue model for its regular flows.

4) Tracxn Technologies has the largest coverage on emerging technology sectors like artificial intelligence, machine learning, robotics, virtual reality, blockchain, alternate energy etc.

Its subscribers include institutional investors, investment bankers, fund managers, venture capitalists and PE funds looking for good deep value opportunities.

5) The company is headquartered in Bengaluru and was founded in 2015 by two former venture capitalists at Sequoia and Accel, Neha Singh and Abhishek Goyal.

The idea was to fill the huge gap between people with investable surplus and entrepreneurs with good and bright ideas. 

6) Tracxn Technologies currently tracks more than 14 lakh private companies and start-ups with its proprietary model being used to bucket the model into a particular slot after which the due diligence on the company can commence.

Tracxn has over 855 subscribers spread across 50 countries; largely VCs, PE players and large corporates.

7) IIFL Securities will be the sole book running lead manager (BRLM) to the IPO. Now that the regulator has approved the IPO, the next steps would be file the RHP with the registrar of companies (ROC) and proceed with the issue.

The purpose of the IPO is to get the shares listed on the stock exchange and make the equity capital available as a future currency.

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Go Fashion IPO Allotment - How to Check Allotment Status?

Go Fashion IPO Allotment - How to Check Allotment Status?
by 5paisa Research Team 23/11/2021

The Rs.1,013.61 crore IPO of Go Fashion (India), consisting of a fresh issue of Rs.125 crore and an offer for sale (OFS) of Rs.888.61 crore, was subscribed 135.46X overall at the close of bidding on 22nd November. The basis of allotment will be finalized on 25th November.

If you have applied for the Go Fashion (India) IPO, you can check your allotment status online.

You can either check your allotment status on the BSE website or the IPO registrar, KFINTECH Private Limited (formerly Karvy Computershare). Here are the steps.

Checking the allotment status of Go Fashion (India) 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:

A) Under Issue Type – Select Equity Option
B) Under Issue Name – Select Go Fashion (India) from the drop down box
C) Enter the Application Number exactly as in the acknowledge slip
D) Enter the PAN (10-digit alphanumeric) number
E) Once this is done, you need to click on the Captcha to verity that you are not a robot
F) 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 Go Fashion (India) IPO allotted to you.

Check - Go Fashion IPO - Subscription Day 3

Checking the allotment status of Go Fashion (India) on KFINTECH (Registrar to IPO)

Visit the KFINTECH registrar website for IPO status by clicking on the link below:
https://rti.kfintech.com/ipostatus/

Once you click on Recent IPOs, the dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Go Fashion (India) from the drop down box.

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

A) To Query by PAN, check the appropriate box and follow these steps:

a) Enter the 10-digit PAN number
b) Enter the 6-digit Captcha Code
c) Click on Submit button
d) Allotment status gets displayed on screen

B) To Query by Application Number, check the appropriate box and follow these steps:

a)  Select Application Type (ASBA or Non-ASBA)
b) Enter the Application Number as it is
c) Enter the 6-digit Captcha Code
d) Click on Submit button
e) Allotment Status gets displayed on screen

C) To Query by DP-ID, check the appropriate box and follow these steps:

a) Select the depository (NSDL / CDSL)
b) Enter the DP-ID
c) Enter the Client-ID
d) Enter the 6-digit Captcha Code
e) Click on Submit button
f) Allotment Status gets displayed on screen

Also Read:-

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Upcoming IPOs in November 2021

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Latent View Analytics IPO - Listing Day Performance

Latent View Analytics IPO - Listing Day Performance
by 5paisa Research Team 23/11/2021

Latent View Analytics had a very strong listing on 23rd November, listing at a premium of 160%. While the stock did show higher levels in early trades, the price tapered towards the end of the day.

While the closing price was lower than the listing price, it still closed at a substantial premium to the IPO issue. With overall subscription of 326.49X and solid trading interest in GMP market, the listing was expected to be strong.
 

Here is the Latent View Analytics listing story on 23-Nov.


The IPO price was fixed at the upper end of the band at Rs.197 considering the 326.49X subscription. The price band for the IPO was Rs.190 to Rs.197. On 23rd Nov, the stock of Latent View Analytics listed on the NSE at a price of Rs.512.20, a premium of 160% above the issue price of Rs.197.

On the BSE also, the stock listed at Rs.530 a premium of 169% on the IPO issue price.

On the NSE, Latent View Analytics IPO closed on 23-Nov at a price of Rs.487.95, a first day closing premium of 147.69% on the issue price. On the BSE, the stock closed at Rs.488.60, a first day closing premium of 148.02% on the IPO issue price.

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

On Day-1 of listing, Latent View Analytics touched a high of Rs.548 on the NSE and a low of Rs.461.10. The premium held through the day. On Day-1 of listing, the Latent View Analytics stock traded a total of 288.24 lakh shares on NSE amounting to value of Rs.1,442.63 crore.

Check - Latent View Analytics IPO - Subscription Day 3

On 23-Nov, Latent View was the sixth most active share on NSE by traded value. It ranked sixteenth on the NSE by trading volumes (number of shares traded).

On the BSE, Latent View Analytics touched a high of Rs.548.75 and a low of Rs.462. On BSE, the stock traded a total of 20.73 lakh shares amounting to value of Rs.104.47 crore. It was the fifth most active share on the BSE in terms of trading value.

At the close of Day-1 of listing, Latent View Analytics had a market capitalization of Rs.9,665.21 crore with free-float market cap of Rs.869.87 crore.

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Upcoming IPOs in November 2021

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Fusion Microfinance IPO - 7 Things to Know

Fusion Microfinance IPO - 7 Things to Know
by 5paisa Research Team 23/11/2021

Fusion Microfinance, which is backed by PE firm Warburg Pincus, had filed for its draft red herring prospectus in mid-August 2021. It has just got the approval from SEBI and can now proceed to file the RHP with the ROC and complete other formalities to go ahead with the IPO. Here is a gist of the Fusion Microfinance IPO.
 

Seven things to know about Fusion Microfinance IPO


1) Fusion Microfinance gives small ticket loans to borrowers in the rural and semi-urban areas and largely operates with the unbanked sections of the population.

It operates in the same industry segment as other key players in India like Ujjivan Small Finance Bank, Equitas SFB, Suryoday Small Finance Bank, Bandhan Bank etc.

2) Fusion Microfinance had the early backing of Creation Investments and Honey Rose Investment, an arm of global PE giant Warburg Pincus.

The IPO of Fusion Microfinance will comprise of a fresh issue of Rs.600 crore plus an offer for sale of 2,19,66,841 equity shares. The final size of the offer will depend on the eventual price band of the IPO.

3) Out of the 2.197 crore shares that is being offered as part of the OFS, the two promoters Devesh Sachdev and Mini Sachdev will offer 13 lakh shares and 2 lakh shares respectively.

Early investors Creation Investment will offer 40 lakh shares while Honey Rose Investment will offer 63.21 lakh shares in the OFS. Other selling shareholders in the OFS include Oikocredit, Ecumenical Development and Global Financial Inclusion Fund.

4) The promoter group of Fusion Microfinance has 85.5% stake in the company while the other two selling shareholders jointly hold 12.03% in the company.

Fusion Microfinance may also consider a pre-IPO placement of Rs.120 crore, in which case the IPO size will be reduced proportionately. Anchor placement will be taken up closer to the IPO date.

5) For any microfinance institution, asset quality cycles are quite common as has been seen in a number of cases. Hence a solid capital adequacy is a must for these microfinance players.

The fresh issue proceeds of Rs.600 crore will be used to boost the capital base of the company and enhance its capital comfort to expand its book.

6) For FY21, Fusion Microfinance reported total revenues of Rs.873 crore and net profits of Rs.43.9 crore. The profits fell sharply in FY21 over FY20 due to the asset quality stress created by the pandemic which impacted loan servicing ability for many customers. 

7) The issue will be lead managed by ICICI Securities, CLSA India, IIFL Securities and JM Financial who will be the book running lead managers or BRLMs to the issue. The retail allocation in the IPO would be 35% and QIB at 50%.

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Jesons Industries Files DRHP for Rs.900 crore IPO

Jesons Industries Files DRHP for Rs.900 crore IPO
by 5paisa Research Team 23/11/2021

Jesons Industries has filed draft red herring prospectus (DRHP) with SEBI for its proposed Rs.900 crore IPO. Jesons Industries is one of the leading manufacturers of specialty coating emulsions and water based adhesives. Jesons Industries is fully owned by the Mumbai based Gosalia family.

Out of the total capital, 86.53% is held by the main promoter, Dhiresh Gosalia. The balance 13.47% is held by individual family members including Madhavi Gosalia, Ravina Shah and Jhelum Gosalia. Jesons mainly supplies to the Indian paints sector and has nearly 30% market share in this niche space.

The IPO will comprise of a fresh issue of Rs.120 crore and an offer for sale of around 1.21 crore shares by the Gosalia family. The company is also likely to consider a pre-IPO placement of Rs.24 crore in which case the size of the IPO would be reduced proportionately. Anchor shares will be placed closer to the issue.

Depending on the eventual pricing, the indicative combined size of the IPO is expected to be Rs.800 crore on the lower side and Rs.900 crore on the upper side. The promoter stake is currently 100% and the promoter stake will get diluted due to the combined impact of the OFS and the fresh issue of shares.

Jesons Industries has a catalogue offering of more than 170 products and some of its leading brands available in the market include Bondex, Rdymix, Coviguard, Blue Glue, INDTAPE and Polytex. Jesons has been exporting its specialty coating emulsions and its water-based pressure sensitive adhesives to over 50 countries across the world.

For the fiscal year ended March 2021, Jesons Industries reported sales revenues of Rs.1,086 crore and net profits of Rs.92.88 crore offering a net profit margin of 8.55%. The profits were up 3-fold YoY while revenues were up 20% YoY even as better cost controls helped boost the bottom line. With a 30% market share, it is likely to hold margins.

The IPO will be lead managed by Axis Capital and JM Financial and the SEBI approval is expected in 2-month time frame.

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SEBI Puts Off Client Collateral Segregation to 28-Feb

SEBI Puts Off Client Collateral Segregation to 28-Feb
by 5paisa Research Team 24/11/2021

In a circular issued after market hours on 23-November, SEBI announced that it was postponing the implementation of the framework for segregation and monitoring of collateral at client level to 28th February 2022.

In addition, even the implementation of the stringent rule stipulating 50% margin requirement for futures and options trades, has also been put off from 01-Dec to 28-Feb, giving relief to F&O traders.

The new system of client collateral segregation was to be effective from 01st December 2021, but now that will be applicable only from the 28th of February next year.

Markets and brokers get a 3-month breather. For the brokers, this would come as a reprieve as it was apprehended that these measures would have impacted volumes.

First, a quick background. As per the new framework, brokers will have to report segment-wise and asset-wise break-up of each client collateral. This was triggered by the Karvy fiasco wherein the company had pledged client shares with banks and financiers to raise funds by doing off-market transfers to its group companies.

It is expected that the new disaggregated system of reporting will protect clients from any misuse by TMs or even CMs.

The new system is supposed to have multi-level hierarchy of reporting. For example, the TM (trading member) would report disaggregated information on cash and collaterals up to the level of its clients to the CM (clearing member).

In turn, the CM will report disaggregated information on collaterals and cash up to the level of TM clients and proprietary collaterals of TMs to the stock exchanges as well as to clearing corporations on a daily basis.
 

Here are some interesting implications


1) A web portal facility will be provided by clearing corporations to enable clients to view disaggregated collateral reporting by TM/CM and highlight discrepancies, if any.

2) Clearing Corporation will use collateral allocation information to ensure that the collateral allocated to a client is used towards margin obligation of that client only.

3) False allocation by members will be treated as a violation and will entail disciplinary action against the members.

4) If applicable client margins for a client in a segment exceeds collateral allocated and securities collateral re-pledged, then proprietary collateral of TM/CM will be blocked.

The checks and balances in the new system are quite stringent. However, the brokers and the market infrastructure institutions had represented to SEBI about the practical difficulties of shifting to the new system of reporting from 01-December.

As a result, SEBI has agreed to put off the implementation by 3 months to 28-February. This new client wise collateral reporting and mapping will be effective from the last day of February.

The Karvy saga had raised serious question about the sanctity of client collaterals and power of attorney given to the brokers. The POA issue has already been addressed. Addressing the collateral disaggregation will help to make the markets safer for investors and traders.

Also Read:-

SEBI Releases Investors Charter with Do's and Dont's

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