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​​ The total customer count has increased to 89 with an outstanding order book of Rs 1190 crore at the end of November 2022, compared with 72 a year ago when it had an order book of Rs 918 crore. The company has net debt of Rs 304 crore in the first eight months of FY23, compared with Rs 250 crore in the year-ago period. The 6S market contributes 57% to the revenue while the balance is from India.

The company develops pharma intermediates and works with pharmaceutical companies who seek USFDA compliant manufacturing facilities as a part of their supply chain.

The company, in consultation with the lead bankers to the issue, may consider a pre-IPO placement aggregating up to Rs 51 crore. If such placement is completed, the fresh issue size will be reduced.

The IPO consists of a fresh issue of ₹320 crore and an offer for sale (OFS) of shares worth ₹545 crore by promoters and existing shareholders. The company will use the proceeds from the fresh issue for debt payment, working capital requirements, and general corporate purposes.

According to market sources, the grey market premium (GMP) of Udayshivakumar Infra, which indicates the premium commanded by shares in the unlisted market, has risen in the past few days to around Rs 15 currently.

“Each business group and company can pursue independent fundraising and IPOs when they are ready,” Zhang said in a statement.

The company had filed preliminary IPO papers with Sebi on January 4, 2023. The IPO consists of a fresh issue of Rs 202.50 crore and an offer-for-sale of up to 5.7 million equity shares by its existing shareholders and promoters.

According to market sources, the company's shares are being enquired for a premium of Rs 25-30 in the unlisted market. The company is yet to announce the price band for the IPO.

Avalon is a fully integrated electronic manufacturing company that offers end-to-end service solutions. The company has 12 manufacturing units located across the US and India. Some of its key clients include Kyosan India, Zonar Systems Inc, Collins Aerospace, and eInfochips, among others

In the filing, Oyo will outline plans to sell just a third of the new shares it originally planned, eroding the amount of fresh capital it is expected to receive.

Backed by investors such as Sequoia Capital and Belgium's Sofina, Mamaearth is now in a "wait and watch mode", a Reuters report said, citing turbulence in stock markets globally amid worries about the financial health of banks.

The company has cut the size of its IPO to Rs 865 crore from Rs 1,025 crore planned earlier. The reduction in the IPO size was a result of the pre-IPO placement carried out by the company, which amounted to Rs 160 crore.

Steel bars and wires manufacturer Maiden Forgings opened for IPO on March 23 to raise Rs 23.84 crore. The IPO will close on March 27. The new issue consists of 37,84,000 equity shares worth Rs 10 apiece, with a ceiling on the issue price between Rs 60 and Rs 63

The three-day initial public offering (IPO) will close on April 6, and the bidding for anchor investors will open on March 31, according to the red herring prospectus (RHP).

Through the IPO, the company plans to raise about Rs 130 crore, of which Rs 58 crore will be used to repay loans availed by the company from scheduled commercial banks, and Rs 71 crore for funding working capital requirements, besides general corporate purposes.

"The current grey market premium (GMP) of Udayshivakumar Infra is Rs 10 as of March 23rd, 2023. Considering the upper band price of Rs 35, the share could give a listing gain of 28% to investors," Manish Khanna, Co-founder of Unlisted assets, said.

About 50% of the offer will be available for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Bidders, and not less than 35% will be reserved for retail investors. The offer also includes a reservation for subscription by eligible employees.

According to market sources, the grey market premium (GMP) of Udayshivakumar Infra, which indicates the premium commanded by shares in the unlisted market, has dropped down to Rs 6-7.

The proposed IPO will have both fresh issue of shares and offer for sale components.

“We had planned (the IPO in) March 2022 but before that the Ukraine war happened and Nasdaq started crashing. So, all the multiples were going down,” Taku said on the sidelines of an event, adding that the fintech firm continues to be in an IPO ‘ready mode’.

According to market sources, the grey market premium (GMP) of Udayshivakumar Infra, which indicates the premium commanded by shares in the unlisted market, was unchanged at Rs 10. Analysts are mixed on whether investors should subscribe to the IPO given muted market sentiments.

IndiaFirst Life Insurance Company recorded its highest five-year growth in terms of New Business Individual Rated Premium (IRP) amongst life insurers with PSU bank percentage, with a CAGR of 27.3% between fiscal 2017 to fiscal 2022.

Managing director Mahesh Bhanushali had earlier expressed his gratitude for the overwhelming response the IPO received. He said strong demand for the issue reflected the investors' trust and confidence in the company's growth prospects and the management.

According to market sources, Udayshivakumar Infra shares are commanding a premium of Rs 10 in the unlisted market, which is higher than the previous day.

According to market analysts, the grey market premium, which indicates the premium commanded by shares in the unlisted market, fell sharply from subscription closing date to around Rs 15. The company has fixed a price band of Rs 133-140. At the upper end, the company's shares are expected to get listed at 10% premium.

The company has 46 work orders in hand having an aggregate order book value of Rs 1,291 crore, as of the December quarter. Out of these, 30 are ongoing and 16 are new work orders, which are yet to start.

The six companies had filed their preliminary initial public offering (IPO) papers with Sebi between September 2021 and May 2022 and their papers were returned during January-March (till March 10).

DIPAM will drive the listing process for which the Centre had given initial approval in 2017.

About 60% of the offer is reserved for retail investors, while 30% is set aside for non-institutional investors. Meanwhile, 10% of the issue is reserved for Qualified institutional buyers (QIB).

Out of the total 37,84,000 equity shares on offer, not more than 17,97,000 equity shares have been reserved for Qualified Institutional Buyers (QIB). A total of 5,39,100 shares have been reserved for Non-Institutional Investors (NII) and the rest for retail individual investors.

In an interview with PTI, Ramdev assured his investors and public shareholders that there would be no impact of Patanjali Foods Ltd's (PFL) operation and financial performance and its growth trajectory will remain intact.

Equity markets were plagued by a host of issues this year including rising interest rates, slowing economic growth, Adani crisis and the latest fallout of the banking crisis in the US. Benchmark Nifty is currently 10% down from its peak.

It is not planning to seek a fresh approval for the IPO immediately from the Securities & Exchange Board of India because of the current choppy market. "We’re not in a hurry to go and, you know, sell it at any cost," managing director K Srinivas told ET.

According to analysts, the grey market premium, which indicates the premium commanded by shares in unlisted markets stoo Rs 20. The company has fixed a price band of Rs 133-140. At the upper end, the shares are expected to list at 14% premium over the issue price.

The ₹412-crore IPO comprised a fresh share issue of ₹180 crore and an offer for sale of 3.93 million shares by existing shareholders. As part of the offer for sale, Nilekani's family trust offloaded 1.44 million shares.

Global Surfaces, which is into processing natural stones and manufacturing engineered quartz, has collected Rs 46 crore from anchor investors and set a price band of Rs 133-140 per share. At the upper end of the price band, the company is expected to fetch Rs 155 crore from the IPO

The proceeds from the IPO will be used for funding additional working capital, investment in strategic acquisitions and other general corporate purposes.

The company's grey market premium is at 18, according to market analysts.The issue was subscribed 5.44 times, driven by strong interest from retail investors

The company has fixed a price band of Rs 133-140. The company plans to raise about Rs 154.98 crore at the upper end of the price band

Religare broking said the company has a strong opportunity in the international market and its new products and designs would aid growth and increase operational efficiency. The brokerage has a "neutral" rating on the public offer.

The price band for its initial public offering has been fixed at Rs 133-140 per share. Investors can bid for a minimum of 100 equity shares and in multiples of 100 equity shares thereafter

Global Surfaces will be open for subscription on Monday to raise funds through an initial public offering. The company will raise Rs 155 crore at the upper price band of the issue. The shares of the company will be listed on both NSE and BSE. The company will be offering 1,10,70,000 equity through the initial public offering through the book-building process.

The size of the IPO wasn’t disclosed. However, according to Krishna Raghavan, Founder, UnlistedKart, a SEBI-registered research analyst firm, Tata Technologies' recent buyback valued the company at Rs 16,080 crore, indicating that the offered size could be at least Rs 3,800 – Rs 4,000 crore.


The Flipkart IPO has been in the works since the last few years and it was earlier reported that the company is eyeing a listing on Wall Street

Under the IPO, Tata Motors intends to sell 81,133,706 shares of its subsidiary. Two other shareholders - Alpha TC Holdings and Tata Capital Growth Fund I - of the company are also selling shares in the offer.

The IPO is being launched by way of an offer for sale (OFS) of up to 95,708,984 equity shares, representing approximately 23.60% of its paid-up share capital.

The IPO comprises fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares by promoters Mayank Shah and Sweta Shah. The company said IPO proceeds will be used for investment in its arm Global Surfaces FZE for part-financing its capex requirements of setting up the manufacturing facility in Dubai and other general corporate purpo

Aakash Educational Services will issue convertible notes that will convert into equity at a discount of 20% to the listing price of the unit’s planned initial public offering

The part reserved for retail investors was subscribed 4.31 times, while non-institutional investors (NIIs) and qualified institutional buyers (QIBs) parts were subscribed 1.4 times and 7.83 times respectively. The shares are expected to be listed on the exchanges on March 14.

The AMCs will also be required to make enhanced disclosures on voting decisions with specific focus on environmental, social and governance factors along with disclosures of fund manager commentary and case studies, which highlight how the ESG strategy is applied.

The idea is to ensure private players are not crowded out of the bond market at a time when private capital expenditure is expected to gradually gain traction and credit growth has picked up pace, said the official.



SEBI chief said it would not be appropriate commenting on a single entity especially when the matter is subjudice

The Dow Jones Industrial Average rose 172.29 points, or 0.53%, at the open to 32,566.54.


>> For more such web stories click on the ET icon below

According to a release issued after the board meeting, Sebi said it has decided to end the practice of individuals having permanent seats at boards of listed companies. The move is part of efforts to further boost the corporate governance ecosystem.

This will help instill confidence in investors on the corporate bond market and also enhance secondary market liquidity.

The requirement will kick in from Oct.1, 2023 for top 100 companies by market capitalization, and from April 1, 2024 for the top 250, SEBI said in a press release following a board meeting.

In addition, the board of Sebi has decided to permit "Self Sponsored AMCs" to continue the mutual fund business. This is subject to asset management companies (AMCs) fulfilling certain conditions. The move would give the original sponsor flexibility to voluntarily disassociate itself from the MF without needing to induct a new and eligible sponsor.

The facility is based on blocking of funds for trading in the secondary market through UPI. The facility will be optional for investors as well as stock brokers


​The number of bearish estimates is the sum of strong sell and sell calls from analysts covered by the forecaster data set, according to a screener on Trendlyne.​

The company develops pharma intermediates and works with pharmaceutical companies who seek USFDA compliant manufacturing facilities as a part of their supply chain.

Comex spot gold price is trading down by 0.60 per cent at USD 1,962 per ounce against its previous close, Gandhi said.

The Nifty Auto index closed 1.71 per cent up at 12121.3.

The Indian rupee fell against the US dollar due to state-run banks buying dollars and the possible closing of positions by short speculators, who aimed to benefit from the fiscal year carry forward. While the rupee fell, Asian currencies experienced a mixed day as Treasury yields rebounded, which helped to support the dollar index. US 2-year bond yields rose to almost 4.1% on the back of a continuing decline in concerns surrounding the US banking sector, prompting a re-look at rate expectations by traders.

The Nifty Realty index closed 2.46 per cent up at 381.15.

The Nifty Pharma index closed 0.58 per cent up at 11942.5.

The NSE Nifty index closed 129.0 points up at 17080.7

In the Nifty pack, 43 stocks closed in the green, while 6 stocks ended in the red.

Sensex ended at 57,960.09, up 346 points or 0.60% over Tuesday’s closing, the broader market Nifty50 settled at 17,080.70, up 129 points or 0.76%.

UPL, Bharti Airtel, RIL, Asian Paints and ICICI Bank were among the top losers on NSE in today's trade.

The Nifty Bank index closed 0.86 per cent up at 39910.15.

Asian Hotels, Srivasavi Adhesive Tapes Ltd., Ingersoll-Rand, Zen Tech and Faze Three Ltd, hit their fresh 52-week highs during the day.

The 30-share BSE Sensex closed up 346.37 points at 57960.09

Rising interest rates lead to a higher rate on a home loan, affecting readiness and the ability to buy a certain home. However, home loan interest rate spreads are at a three-year low, and if refinanced now, a low spread could be locked in for the rest of the loan. A spread is what is paid over and above the benchmark rate, and if locked in now, once interest rates fall, payments could become easier. Repayment strategies and prepayment methods are recommended to ensure loans are paid off in intended time frames.

Anshul Saigal, CIO of Kotak Mahindra AMC, believes that quality names have corrected meaningfully and present buying opportunities, where growth expectation has not waned and earnings visibility is definitely there. He suggests that investors differentiate between risk and uncertainty and take this as an opportunity to build portfolios for the next year to come. Although Indian markets have underperformed, Saigal is confident that the times ahead will be better for India. He is finding opportunities in financial space, capital goods, auto, defence, and IT, on a stock-specific basis.

The 30-share BSE Sensex closed up 346.37 points at 57960.09

The 30-share BSE Sensex closed up 346.37 points at 57960.09

Kamath, the co-founder, and CEO of India's leading broking firm Zerodha, said individuals should get health coverage to the extent they can afford even before doing anything else in the personal finance journey.

The NSE Nifty index closed 129.0 points up at 17080.7


The 30-share BSE Sensex closed up 346.37 points at 57960.09

Things in motion possess inertia. An analogous property characterizes the stock market: A trend in force tends to remain in force until something occurs to change it. In other words, the trend is your friend. Although this adage is familiar, some investors may not fully appreciate its wisdom. Investors need not find exact tops and bottoms.

The broader NSE Nifty rose 129 points or 0.76% to end at 17,081 on F&O expiry

The 30-share BSE Sensex closed up 346.37 points at 57960.09

Capital gains from these bonds are exempt from LTCG if held for 8 years along with 2.5% interest on investments, which is a significant advantage over and above the appreciation in gold price if someone is bullish on gold, Menon pointed out.

The step toward on-chain assets is a big leap forward for the bond markets. A pilot tokenized bond issued by the European Investment Bank found that blockchain can reduce settlement time from five days to a single day


"Though high capex is a near-term worry, we reiterate our high-conviction buy on RIL given its industry-leading capabilities across businesses, which is likely to drive robust 13-15% EPS CAGR over the next 3-5 years," JM Financial said while setting up a target price of Rs 2,900 per share.

Under Section 80C, you can claim deductions of up to Rs 1.5 lakh on instruments, including ELSS, PPF, FDs, SCSS, insurance schemes.​

Prudent Corp Advisory's founder and MD, Sanjay Shah, explains the company's technology platform, which serves the needs of retail independent financial advisors (IFAs) beyond customer engagement, such as compliance, dealing with asset managers, and technology. Shah notes that the company has created a strong ecosystem for smaller IFAs to survive in business. Prudent provides IFAs with two technology platforms, Fundzbazaar for customer engagement and Prudent Connect, which serves as a hub for IFAs to access management information, reports, reminders, and support

According to the BSE, the equity segment, derivative segment, and SLB segment will be closed tomorrow. Further, the multi-commodity exchange will also be closed for the morning session and trading will resume at 5 pm on March 30 for the evening session.


A total of 22,391 shares changed hands on the counter till 02:14PM (IST)


Gold is seen as a haven for investment in times of crisis and price movement in the yellow metal is inversely related to the movement in the dollar index.

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All NRI’s (other than from USA/Canada), can invest in most of the Mutual fund schemes, available in the market. NRI from USA/Canada are also allowed, but in selective Mutual Fund schemes, due to different compliance requirement of USA/ Canada regulators. To invest in Mutual Funds, investor must first complete the KYC (know your client) documentation, as per SEBI guideline, which involves copy & details of;

  • Overseas address proof
  • Pan card proof
  • Merchant Navy employee - copy of CDC proof

Shortlisting a Mutual Fund for NRI is very similar to a resident, especially if NRI is not from USA/Canada. For NRI from USA/Canada, the basket of fund is limited, and one has to cherry pick funds from what is available. It’s always recommended to consult (speak/ video-chat) with an advisor to shortlist funds, based on your preference, risk, charges & various other parameters. Regular reviews with your advisors, will give you the extra comfort & confidence, due to ever changing equity markets.

If the investment is made from a NRE Account, and during the redemption phase the investor is still an NRI, then one can take the credit back to the NRE account. Redemption proceeds (after deduction of taxes) are paid in rupees by cheque to the account number provided. Some banks also offer direct credit of redemption proceeds to the NRE/NRO account. Investments made via a NRO account, can’t be redeemed in NRE account. The investments carry the right of repatriation of capital invested and capital appreciation, only till the investor remains an NRI.

TDS is deducted at source on the redemption proceeds for any short-term gain. A TDS certificate is also issued digitally for every redemption made by the respective Mutual Fund Company. Short-term Investments in Debt Fund are taxed as per slab rates, whereas in Equity funds it’s at flat 15% p.a. currently. The definition of a short-term fund is holding it for less than 3 years for debt fund, and 1 year for equity and balanced funds (equity oriented).

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