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Ola Electric Mobility’s IPO saw a strong debut, with shares hitting the 20% upper circuit limit and closing at Rs 91.18, a significant rise from the issue price of Rs 76. The issue was oversubscribed 4.27 times, raising Rs 6,146 crore.
Domestic Institutional Investors (DIIs) were net buyers of shares worth Rs 3,357 crore, while Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth Rs 3,531 crore. The Sensex and Nifty closed lower amid sector-specific movements and mixed market sentiments.
Hero Fincorp has filed a draft prospectus with SEBI for a Rs 3,668 crore IPO. The offering includes a fresh issue of shares worth Rs 2,100 crore and Rs 1,568 crore through an OFS.
SEBI has proposed measures to curb speculation in the F&O segment, potentially impacting exchanges and retail brokers significantly. Analysts suggest these changes could reshape market dynamics, affecting retail-focused discount brokers and exchanges like NSE and BSE.
The IPO of Akums Drugs and Pharmaceuticals Limited launched today, attracting significant market interest. Priced between Rs 646 and Rs 679 per share, it is nearly fully subscribed. The IPO aims to raise Rs 1,856.74 crore and will be open until 1st August 2024, with shares listing on BSE and NSE.
Investor sentiment towards HDFC Bank, the country's largest private lender, turned cautious after its quarterly results announcement. While the bank reported a 33.5% jump in net profit, concerns about asset quality and future growth prospects sparked the sell-off.
Some analysts pointed towards the higher valuation demanded by the IPO as a potential concern. The issue was priced at the upper end of the band at ₹331 per share, raising ₹1,000 crore.
The sudden plunge came as a stark contrast to the recent buoyancy displayed by the stock. In the previous three sessions, JFS had surged over 10%, buoyed by optimism surrounding the company's prospects.
The green light from the BSE follows SpiceJet's 39th annual general meeting on January 10th, where shareholders overwhelmingly endorsed the 2,242 crore fundraise proposal.
Founded in 1995, Konstelec Engineers boasts extensive experience in the electrical engineering and EPC domain. The company holds an electrical contractor license and has successfully completed over 200 projects, both small and complex, across India and abroad.
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