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Open & Upcoming IPOs

LG Electronics India plans to file an updated DRHP for its ₹15,000 crore IPO with SEBI in early May 2025, aiming to list by May-end. The IPO, an offer for sale of up to 10.18 crore shares, may see a lower valuation of ₹10,500-11,500 crore due to market conditions. The company reported ₹21,352 crore revenue in FY24, up 7.5% YoY, with a net profit of ₹1,151.07 crore.

SEBI Chairman, Tuhin Kanta Pandey, has said that the market regultor is currently reviewing NSE’s IPO proposal. According to Pandey, SEBI’s internal committee will examine NSE’s responses to the concerns previously raised by the regulator. On March 28, NSE filed an application with SEBI seeking a No Objection Certificate (NOC) for its IPO.

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India’s IPO market has slowed significantly, with 144 companies, including 67 awaiting SEBI approval, delaying IPOs worth ₹1.47 lakh crore. January-February 2025 saw a 37% drop in IPO funds raised, and March had none. High-profile firms like Ather Energy and Urban Company have scaled back plans due to valuation concerns and market volatility.

Prestige Group plans a Rs 4,000 crore IPO for its hotels business, using funds for new developments and debt reduction. The company is working with four investment banks and aims to file the DRHP soon. This move comes amid strong investor interest in hospitality, with several recent successful IPOs in the sector.

The National Stock Exchange (NSE) has signed an MoU with the Uttar Pradesh government to promote awareness among MSMEs about raising funds through IPOs on the NSE Emerge platform. The initiative includes seminars and workshops to guide businesses, with 612 companies already listed, collectively raising over ₹17,003 crore.

Mumbai-based Seshaasai Technologies has received SEBI approval for its IPO, aiming to raise ₹600 crore via fresh equity shares and an offer for sale. Funds will expand manufacturing and repay loans. The company, serving the BFSI sector with payment and IoT solutions, reported a 52.21% revenue CAGR from FY22 to FY24. Listing on BSE and NSE is planned.

Aegis Vopak Terminals has secured SEBI's nod for its ₹3,500 crore IPO. India's largest third-party LPG and liquid storage firm, it plans to use proceeds to repay loans, fund the acquisition of a cryogenic LPG terminal in Mangalore, and for general corporate purposes. IPO papers were filed on November 18, 2024.

Inox Green Energy Services' shares surged 20% on April 15 after reports that Inox Clean Energy plans a Rs 5,000-crore IPO via SEBI's confidential route. The IPO, managed by five bankers, could be one of India's largest in renewable energy. Inox Green reported a 1.95% increase in net sales and a significant rise in net profit and EBITDA.

India's IPO market is paused this week for the first time since January 2024, due to global uncertainties and market corrections. However, major IPOs are upcoming, including Reliance Jio's Rs 40,000 crore, Tata Capital's Rs 15,000 crore, PhonePe's $15 billion, Ather Energy's Rs 3,100 crore, and LG Electronics India's Rs 15,000 crore, signaling a potential rebound.

MoEngage, a SaaS firm, is considering relocating its headquarters from San Francisco to India to tap into the booming IPO market. The company, which has raised over $180 million, joins a growing trend of Indian SaaS startups shifting their legal base to India for easier access to capital and IPO opportunities.

The global and Indian IPO markets are struggling due to Trump's tariffs and market volatility, with 144 draft IPOs worth Rs. 1.47 lakh crores pending in India. Experts anticipate a wait-and-watch approach, expecting recovery if market conditions stabilize, with fair pricing needed to revive activity.

The Middle East, despite facing challenges from market volatility and falling oil prices, remains optimistic about its IPO pipeline. Bankers expect deal activity to resume soon, with companies in Saudi Arabia and Kuwait leading the way. EFG Hermes and JPMorgan report no significant delays, though investors remain cautious amid global economic uncertainty and oil price concerns.

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hBits, a fractional commercial real estate investment platform, has received SEBI approval to launch its Small & Medium Real Estate Investment Trust (SM-REIT) IPO, aiming to raise Rs 400-500 crore by June 2025. The company will migrate its existing portfolio into the SM-REIT structure and targets Assets Under Management (AUM) of Rs 2,000 crore by March 2026.

Anthem Biosciences Limited has received SEBI approval for its IPO, which involves an offer for sale of up to ₹3,395 crore by promoters, investors, and shareholders. The Bengaluru-based firm reported a 34.3% revenue increase to ₹1,419 crore in FY24, with a profit of ₹367 crore. It provides CRDMO services and produces specialty ingredients and APIs.

Ather Energy has revised its IPO expectations, targeting a post-money valuation of around ₹12,800 crore, down from ₹14,000 crore. The IPO size is scaled down to ₹2,900-3,200 crore due to market conditions. It includes fresh shares and OFS, with promoters and early investors diluting stakes. Hero MotoCorp, holding over 37%, won't sell shares.

Delhivery shares dropped 5% on Wednesday, extending a two-day decline to 11%, following its announcement to acquire Ecom Express for up to ₹1,407 crore, gaining a 99.4% stake. The combined entity will hold 55-60% of India’s B2C express logistics market, with significant cost synergies expected. SoftBank exits at a lower valuation, marking another subdued exit in India.

Vishal Mega Mart received coverage initiations from Jefferies and Bernstein. Jefferies set a 'Buy' rating with a ₹125 target, seeing 20% upside, strong Tier-2 presence, and 27% CAGR. Bernstein issued an 'Underperform' with a ₹90 target, citing margin risks. Shares closed at ₹104.50, near its post-IPO high of ₹126.87. Seven analysts rate it 'Buy,' one 'Hold,' and one 'Sell.'

Private equity firm True North, venture capital firm Accel, and nine other alternative investment firms will monetize their investments as three of their portfolio companies have received SEBI approval to launch initial public offerings (IPOs). This regulatory nod allows the firms to realize returns on their investments through successful public listings.

SEBI has approved the IPO plans of four companies: Aye Finance, BlueStone Jewellery and Lifestyle, GK Energy, and Anthem Biosciences. Observation letters were issued on April 3 for Aye Finance, GK Energy, and Anthem Biosciences, and on April 1 for BlueStone, allowing them to launch their IPOs within the next year.

Gurugram-based Aye Finance Ltd., an NBFC catering to micro, small, and medium enterprises, has received SEBI approval for its ₹1,450 crore IPO. The offering includes a fresh issue of ₹885 crore and an offer for sale of ₹565 crore. Proceeds will strengthen the company's capital base for growth. Aye Finance reported a 291.5% rise in profit to ₹171.7 crore in FY24, with a 0.9% Net NPA.

LG Electronics India plans to file an updated DRHP for its ₹15,000 crore IPO with SEBI in early May 2025, aiming to list by May-end. The IPO, an offer for sale of up to 10.18 crore shares, may see a lower valuation of ₹10,500-11,500 crore due to market conditions. The company reported ₹21,352 crore revenue in FY24, up 7.5% YoY, with a net profit of ₹1,151.07 crore.

SEBI Chairman, Tuhin Kanta Pandey, has said that the market regultor is currently reviewing NSE’s IPO proposal. According to Pandey, SEBI’s internal committee will examine NSE’s responses to the concerns previously raised by the regulator. On March 28, NSE filed an application with SEBI seeking a No Objection Certificate (NOC) for its IPO.

Rate this item

(1 Vote)

India’s IPO market has slowed significantly, with 144 companies, including 67 awaiting SEBI approval, delaying IPOs worth ₹1.47 lakh crore. January-February 2025 saw a 37% drop in IPO funds raised, and March had none. High-profile firms like Ather Energy and Urban Company have scaled back plans due to valuation concerns and market volatility.

Prestige Group plans a Rs 4,000 crore IPO for its hotels business, using funds for new developments and debt reduction. The company is working with four investment banks and aims to file the DRHP soon. This move comes amid strong investor interest in hospitality, with several recent successful IPOs in the sector.

The National Stock Exchange (NSE) has signed an MoU with the Uttar Pradesh government to promote awareness among MSMEs about raising funds through IPOs on the NSE Emerge platform. The initiative includes seminars and workshops to guide businesses, with 612 companies already listed, collectively raising over ₹17,003 crore.

Mumbai-based Seshaasai Technologies has received SEBI approval for its IPO, aiming to raise ₹600 crore via fresh equity shares and an offer for sale. Funds will expand manufacturing and repay loans. The company, serving the BFSI sector with payment and IoT solutions, reported a 52.21% revenue CAGR from FY22 to FY24. Listing on BSE and NSE is planned.

Aegis Vopak Terminals has secured SEBI's nod for its ₹3,500 crore IPO. India's largest third-party LPG and liquid storage firm, it plans to use proceeds to repay loans, fund the acquisition of a cryogenic LPG terminal in Mangalore, and for general corporate purposes. IPO papers were filed on November 18, 2024.

Inox Green Energy Services' shares surged 20% on April 15 after reports that Inox Clean Energy plans a Rs 5,000-crore IPO via SEBI's confidential route. The IPO, managed by five bankers, could be one of India's largest in renewable energy. Inox Green reported a 1.95% increase in net sales and a significant rise in net profit and EBITDA.

India's IPO market is paused this week for the first time since January 2024, due to global uncertainties and market corrections. However, major IPOs are upcoming, including Reliance Jio's Rs 40,000 crore, Tata Capital's Rs 15,000 crore, PhonePe's $15 billion, Ather Energy's Rs 3,100 crore, and LG Electronics India's Rs 15,000 crore, signaling a potential rebound.

MoEngage, a SaaS firm, is considering relocating its headquarters from San Francisco to India to tap into the booming IPO market. The company, which has raised over $180 million, joins a growing trend of Indian SaaS startups shifting their legal base to India for easier access to capital and IPO opportunities.

The global and Indian IPO markets are struggling due to Trump's tariffs and market volatility, with 144 draft IPOs worth Rs. 1.47 lakh crores pending in India. Experts anticipate a wait-and-watch approach, expecting recovery if market conditions stabilize, with fair pricing needed to revive activity.

The Middle East, despite facing challenges from market volatility and falling oil prices, remains optimistic about its IPO pipeline. Bankers expect deal activity to resume soon, with companies in Saudi Arabia and Kuwait leading the way. EFG Hermes and JPMorgan report no significant delays, though investors remain cautious amid global economic uncertainty and oil price concerns.

Rate this item

(1 Vote)

hBits, a fractional commercial real estate investment platform, has received SEBI approval to launch its Small & Medium Real Estate Investment Trust (SM-REIT) IPO, aiming to raise Rs 400-500 crore by June 2025. The company will migrate its existing portfolio into the SM-REIT structure and targets Assets Under Management (AUM) of Rs 2,000 crore by March 2026.

Anthem Biosciences Limited has received SEBI approval for its IPO, which involves an offer for sale of up to ₹3,395 crore by promoters, investors, and shareholders. The Bengaluru-based firm reported a 34.3% revenue increase to ₹1,419 crore in FY24, with a profit of ₹367 crore. It provides CRDMO services and produces specialty ingredients and APIs.

Ather Energy has revised its IPO expectations, targeting a post-money valuation of around ₹12,800 crore, down from ₹14,000 crore. The IPO size is scaled down to ₹2,900-3,200 crore due to market conditions. It includes fresh shares and OFS, with promoters and early investors diluting stakes. Hero MotoCorp, holding over 37%, won't sell shares.

Delhivery shares dropped 5% on Wednesday, extending a two-day decline to 11%, following its announcement to acquire Ecom Express for up to ₹1,407 crore, gaining a 99.4% stake. The combined entity will hold 55-60% of India’s B2C express logistics market, with significant cost synergies expected. SoftBank exits at a lower valuation, marking another subdued exit in India.

Vishal Mega Mart received coverage initiations from Jefferies and Bernstein. Jefferies set a 'Buy' rating with a ₹125 target, seeing 20% upside, strong Tier-2 presence, and 27% CAGR. Bernstein issued an 'Underperform' with a ₹90 target, citing margin risks. Shares closed at ₹104.50, near its post-IPO high of ₹126.87. Seven analysts rate it 'Buy,' one 'Hold,' and one 'Sell.'

Private equity firm True North, venture capital firm Accel, and nine other alternative investment firms will monetize their investments as three of their portfolio companies have received SEBI approval to launch initial public offerings (IPOs). This regulatory nod allows the firms to realize returns on their investments through successful public listings.

SEBI has approved the IPO plans of four companies: Aye Finance, BlueStone Jewellery and Lifestyle, GK Energy, and Anthem Biosciences. Observation letters were issued on April 3 for Aye Finance, GK Energy, and Anthem Biosciences, and on April 1 for BlueStone, allowing them to launch their IPOs within the next year.

Gurugram-based Aye Finance Ltd., an NBFC catering to micro, small, and medium enterprises, has received SEBI approval for its ₹1,450 crore IPO. The offering includes a fresh issue of ₹885 crore and an offer for sale of ₹565 crore. Proceeds will strengthen the company's capital base for growth. Aye Finance reported a 291.5% rise in profit to ₹171.7 crore in FY24, with a 0.9% Net NPA.

Bengaluru-based iD Fresh Food is raising ₹500 crore via a secondary share sale to facilitate exits for early investors, including Premji Invest. The company, valued at ₹2,200 crore, aims to streamline its capital structure ahead of an IPO by FY27. It reported ₹620 crore in revenue and turned profitable in FY24, with plans to expand internationally and double its business in three years.

Vishal Fabrics’ 2014 IPO has yielded significant returns for investors due to corporate actions like stock splits and bonus shares. An initial investment of ₹1.35 lakh has grown to ₹7.80 lakh as of April 8, driven by a stock split in 2017 and bonus issues in 2020 and 2022, increasing the share count from 3,000 to 27,000.

Shares of IT-enabled services firm Infonative Solutions had a weak listing on the BSE SME on Tuesday, following the conclusion of its initial public offering (IPO). The stock listed at ₹63.20 per share, reflecting a 20 per cent discount—or ₹15.20 lower—than its issue price of ₹79. Infonative Solutions stock fell over 5 per cent to ₹60.04 immediately after the listing due to selling pressure.

Spinaroo Commercial shares debuted positively on BSE SME, opening at ₹52.85, a 3.63% rise from the ₹51 issue price. The IPO, subscribed from March 28 to April 3, raised ₹10.17 crore for working capital and corporate expenses. The company produces aluminum and paper products and machinery, operating without direct listed competitors. Grey market premium was ₹0.

The stock market downturn, triggered by US President Donald Trump’s tariffs, may delay IPO plans for new-age Indian companies. Founders and investors anticipate shifting public sentiment toward safer assets, with companies like Bluestone, Ather Energy, and PhysicsWallah already filing draft papers. Profitable firms may still perform well, but at lower valuations, while others may defer listings.

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Spinaroo Commercial's Rs 11 crore IPO, listing on BSE SME, saw marginal response with GMP at 0% over Rs 51 issue price. The company, manufacturing aluminum foil and paper products, will use funds for working capital. It operates two ISO-certified units in Kolkata, serving clients across 12 states and 2 UTs, emphasizing quality and affordability.

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Infonative Solutions will list on the BSE SME platform today, with its IPO subscribed over 4 times at Rs 79 per share. Funds will support product development, LMS enhancements, and working capital. The company, growing since 2014, offers tailored e-learning solutions to global clients, including Fortune 500 firms and big consultancies, leveraging advanced technologies like AR/VR and gamification.

New demat account openings slowed in March, reaching 2.04 million, the lowest in 23 months, down from 3.03 million in February. Weak investor sentiment and a sluggish IPO market are cited as reasons. Total accounts rose to 192.44 million. Market volatility and ongoing corrections since September, driven by domestic and global challenges, have dampened investor confidence.

Coal India plans IPOs for its subsidiaries CMPDI and BCCL in FY26, listing 25% equity in each. The Red Herring Prospectus is expected by May. BCCL posted a profit of ₹2,091.67 crore in FY24, while CMPDI earned ₹732.84 crore. The listings may happen in tranches to maximize funds raised from the market.

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The three market-beating stocks: Dutch Bros (BROS), Reddit (RDDT), and Lantheus (LNTH). Dutch Bros has a +32.9% return since IPO, driven by same-store sales growth and margin expansion. Reddit is up +64.3%, fueled by rising daily active users and strong EPS growth. Lantheus boasts a +675% five-year return, with impressive revenue growth and cash flow improvements.

OfBusiness, a B2B raw materials platform backed by SoftBank and Tiger Global, has agreed to acquire a Kerala-based manufacturer of herbs and spice-based products. Operated by OFB Tech Ltd, OfBusiness is preparing for an initial public offering (IPO). This acquisition aligns with their strategic growth plans in the raw materials procurement sector.

Imagine Marketing, the parent of wearables brand boAt, has filed draft papers for an IPO via Sebi’s confidential pre-filing route—its second attempt after a failed 2022 try. The confidential route delays public DRHP disclosures and is gaining traction in India for offering firms greater flexibility and reduced regulatory pressure during early IPO stages.

Klarna, a Swedish fintech firm, postponed its planned IPO due to President Trump's tariffs announcement, impacting the 2025 IPO market outlook. The company, aiming to list on the NYSE under "KLAR" with a $15 billion valuation, halted share marketing. Other firms, including StubHub, may also delay listings, reflecting market uncertainty.

Retaggio Industries' IPO debuted at ₹25.10 on BSE SME, 0.40% above the issue price of ₹25. The ₹15.50 crore IPO, offering 61.98 lakh shares, was subscribed 1.86 times. Proceeds will fund debt repayment and working capital. Established in 2022, Retaggio Industries specializes in high-end jewelry, expanding from M/s Vaibhav Gems, founded in 2012.

Retaggio Industries' shares will list on BSE SME, with its IPO subscribed nearly 2 times, driven by retail investors. Priced at Rs 25 per share, the company raised Rs 15 crore for debt repayment and working capital. Specializing in B2B jewellery, including gold, diamond, and heritage pieces, Retaggio combines traditional craftsmanship with modern technology.

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Klarna and StubHub have delayed their IPO plans after President Trump’s tariffs caused a $6 trillion stock market loss. Both companies were set to pitch to investors next week but have paused their roadshows with no timeline to resume. This is StubHub’s second postponement, while Klarna had aimed for a $15 billion valuation amid warnings about tariff risks.

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India’s IPO market has seen no new listings between April 7-15, with the last mainboard IPO in February. However, three SME IPOs—Retaggio Industries, Infonative Solutions, and Spinaroo Commercial—are set to list. Global markets, including India's, have plummeted due to U.S. tariff tensions, with the Nifty and Sensex dropping 2.61% and 2.65%, respectively.

Wall Street’s earnings season begins amid a financial stock rout, with major banks like JPMorgan and Bank of America falling 13-18% after Trump’s tariffs. The banking index (^BKX) saw its worst two-day drop since 2020. IPOs and M&A deals are delayed, and banks face risks from potential recession and lower loan profits, shifting focus to forward guidance.

Fabtech Technologies Cleanrooms, a 2025 multibagger stock, surged over 300% from its ₹85 IPO price, reaching ₹346.40. Listed on BSE SME with a 90% gain, it defied market downturns amid Trump's tariffs. The company increased its stake in Kelvin Air Conditioning to 51%, enhancing its HVAC capabilities and solidifying its cleanroom solutions strategy.

Tata Group has filed draft papers with SEBI for a ₹15,000 crore IPO of Tata Capital, combining primary and secondary issues. Tata Sons and IFC will reduce their stakes. The IPO, awaiting NCLT approval for Tata Motors Finance merger, is part of RBI’s listing mandate for upper-layer NBFCs, marking a significant financial sector offering.

LG Electronics India plans to file an updated DRHP for its ₹15,000 crore IPO with SEBI in early May 2025, aiming to list by May-end. The IPO, an offer for sale of up to 10.18 crore shares, may see a lower valuation of ₹10,500-11,500 crore due to market conditions. The company reported ₹21,352 crore revenue in FY24, up 7.5% YoY, with a net profit of ₹1,151.07 crore.

SEBI Chairman, Tuhin Kanta Pandey, has said that the market regultor is currently reviewing NSE’s IPO proposal. According to Pandey, SEBI’s internal committee will examine NSE’s responses to the concerns previously raised by the regulator. On March 28, NSE filed an application with SEBI seeking a No Objection Certificate (NOC) for its IPO.

Rate this item

(1 Vote)

India’s IPO market has slowed significantly, with 144 companies, including 67 awaiting SEBI approval, delaying IPOs worth ₹1.47 lakh crore. January-February 2025 saw a 37% drop in IPO funds raised, and March had none. High-profile firms like Ather Energy and Urban Company have scaled back plans due to valuation concerns and market volatility.

Prestige Group plans a Rs 4,000 crore IPO for its hotels business, using funds for new developments and debt reduction. The company is working with four investment banks and aims to file the DRHP soon. This move comes amid strong investor interest in hospitality, with several recent successful IPOs in the sector.

The National Stock Exchange (NSE) has signed an MoU with the Uttar Pradesh government to promote awareness among MSMEs about raising funds through IPOs on the NSE Emerge platform. The initiative includes seminars and workshops to guide businesses, with 612 companies already listed, collectively raising over ₹17,003 crore.

Mumbai-based Seshaasai Technologies has received SEBI approval for its IPO, aiming to raise ₹600 crore via fresh equity shares and an offer for sale. Funds will expand manufacturing and repay loans. The company, serving the BFSI sector with payment and IoT solutions, reported a 52.21% revenue CAGR from FY22 to FY24. Listing on BSE and NSE is planned.

Aegis Vopak Terminals has secured SEBI's nod for its ₹3,500 crore IPO. India's largest third-party LPG and liquid storage firm, it plans to use proceeds to repay loans, fund the acquisition of a cryogenic LPG terminal in Mangalore, and for general corporate purposes. IPO papers were filed on November 18, 2024.

Inox Green Energy Services' shares surged 20% on April 15 after reports that Inox Clean Energy plans a Rs 5,000-crore IPO via SEBI's confidential route. The IPO, managed by five bankers, could be one of India's largest in renewable energy. Inox Green reported a 1.95% increase in net sales and a significant rise in net profit and EBITDA.

India's IPO market is paused this week for the first time since January 2024, due to global uncertainties and market corrections. However, major IPOs are upcoming, including Reliance Jio's Rs 40,000 crore, Tata Capital's Rs 15,000 crore, PhonePe's $15 billion, Ather Energy's Rs 3,100 crore, and LG Electronics India's Rs 15,000 crore, signaling a potential rebound.

MoEngage, a SaaS firm, is considering relocating its headquarters from San Francisco to India to tap into the booming IPO market. The company, which has raised over $180 million, joins a growing trend of Indian SaaS startups shifting their legal base to India for easier access to capital and IPO opportunities.

The global and Indian IPO markets are struggling due to Trump's tariffs and market volatility, with 144 draft IPOs worth Rs. 1.47 lakh crores pending in India. Experts anticipate a wait-and-watch approach, expecting recovery if market conditions stabilize, with fair pricing needed to revive activity.

The Middle East, despite facing challenges from market volatility and falling oil prices, remains optimistic about its IPO pipeline. Bankers expect deal activity to resume soon, with companies in Saudi Arabia and Kuwait leading the way. EFG Hermes and JPMorgan report no significant delays, though investors remain cautious amid global economic uncertainty and oil price concerns.

Rate this item

(1 Vote)

hBits, a fractional commercial real estate investment platform, has received SEBI approval to launch its Small & Medium Real Estate Investment Trust (SM-REIT) IPO, aiming to raise Rs 400-500 crore by June 2025. The company will migrate its existing portfolio into the SM-REIT structure and targets Assets Under Management (AUM) of Rs 2,000 crore by March 2026.

Anthem Biosciences Limited has received SEBI approval for its IPO, which involves an offer for sale of up to ₹3,395 crore by promoters, investors, and shareholders. The Bengaluru-based firm reported a 34.3% revenue increase to ₹1,419 crore in FY24, with a profit of ₹367 crore. It provides CRDMO services and produces specialty ingredients and APIs.

Ather Energy has revised its IPO expectations, targeting a post-money valuation of around ₹12,800 crore, down from ₹14,000 crore. The IPO size is scaled down to ₹2,900-3,200 crore due to market conditions. It includes fresh shares and OFS, with promoters and early investors diluting stakes. Hero MotoCorp, holding over 37%, won't sell shares.

Delhivery shares dropped 5% on Wednesday, extending a two-day decline to 11%, following its announcement to acquire Ecom Express for up to ₹1,407 crore, gaining a 99.4% stake. The combined entity will hold 55-60% of India’s B2C express logistics market, with significant cost synergies expected. SoftBank exits at a lower valuation, marking another subdued exit in India.

Vishal Mega Mart received coverage initiations from Jefferies and Bernstein. Jefferies set a 'Buy' rating with a ₹125 target, seeing 20% upside, strong Tier-2 presence, and 27% CAGR. Bernstein issued an 'Underperform' with a ₹90 target, citing margin risks. Shares closed at ₹104.50, near its post-IPO high of ₹126.87. Seven analysts rate it 'Buy,' one 'Hold,' and one 'Sell.'

Private equity firm True North, venture capital firm Accel, and nine other alternative investment firms will monetize their investments as three of their portfolio companies have received SEBI approval to launch initial public offerings (IPOs). This regulatory nod allows the firms to realize returns on their investments through successful public listings.

SEBI has approved the IPO plans of four companies: Aye Finance, BlueStone Jewellery and Lifestyle, GK Energy, and Anthem Biosciences. Observation letters were issued on April 3 for Aye Finance, GK Energy, and Anthem Biosciences, and on April 1 for BlueStone, allowing them to launch their IPOs within the next year.

Gurugram-based Aye Finance Ltd., an NBFC catering to micro, small, and medium enterprises, has received SEBI approval for its ₹1,450 crore IPO. The offering includes a fresh issue of ₹885 crore and an offer for sale of ₹565 crore. Proceeds will strengthen the company's capital base for growth. Aye Finance reported a 291.5% rise in profit to ₹171.7 crore in FY24, with a 0.9% Net NPA.

Bengaluru-based iD Fresh Food is raising ₹500 crore via a secondary share sale to facilitate exits for early investors, including Premji Invest. The company, valued at ₹2,200 crore, aims to streamline its capital structure ahead of an IPO by FY27. It reported ₹620 crore in revenue and turned profitable in FY24, with plans to expand internationally and double its business in three years.

Vishal Fabrics’ 2014 IPO has yielded significant returns for investors due to corporate actions like stock splits and bonus shares. An initial investment of ₹1.35 lakh has grown to ₹7.80 lakh as of April 8, driven by a stock split in 2017 and bonus issues in 2020 and 2022, increasing the share count from 3,000 to 27,000.

Shares of IT-enabled services firm Infonative Solutions had a weak listing on the BSE SME on Tuesday, following the conclusion of its initial public offering (IPO). The stock listed at ₹63.20 per share, reflecting a 20 per cent discount—or ₹15.20 lower—than its issue price of ₹79. Infonative Solutions stock fell over 5 per cent to ₹60.04 immediately after the listing due to selling pressure.

Spinaroo Commercial shares debuted positively on BSE SME, opening at ₹52.85, a 3.63% rise from the ₹51 issue price. The IPO, subscribed from March 28 to April 3, raised ₹10.17 crore for working capital and corporate expenses. The company produces aluminum and paper products and machinery, operating without direct listed competitors. Grey market premium was ₹0.

The stock market downturn, triggered by US President Donald Trump’s tariffs, may delay IPO plans for new-age Indian companies. Founders and investors anticipate shifting public sentiment toward safer assets, with companies like Bluestone, Ather Energy, and PhysicsWallah already filing draft papers. Profitable firms may still perform well, but at lower valuations, while others may defer listings.

Rate this item

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Spinaroo Commercial's Rs 11 crore IPO, listing on BSE SME, saw marginal response with GMP at 0% over Rs 51 issue price. The company, manufacturing aluminum foil and paper products, will use funds for working capital. It operates two ISO-certified units in Kolkata, serving clients across 12 states and 2 UTs, emphasizing quality and affordability.

Rate this item

(1 Vote)

Infonative Solutions will list on the BSE SME platform today, with its IPO subscribed over 4 times at Rs 79 per share. Funds will support product development, LMS enhancements, and working capital. The company, growing since 2014, offers tailored e-learning solutions to global clients, including Fortune 500 firms and big consultancies, leveraging advanced technologies like AR/VR and gamification.

New demat account openings slowed in March, reaching 2.04 million, the lowest in 23 months, down from 3.03 million in February. Weak investor sentiment and a sluggish IPO market are cited as reasons. Total accounts rose to 192.44 million. Market volatility and ongoing corrections since September, driven by domestic and global challenges, have dampened investor confidence.

Coal India plans IPOs for its subsidiaries CMPDI and BCCL in FY26, listing 25% equity in each. The Red Herring Prospectus is expected by May. BCCL posted a profit of ₹2,091.67 crore in FY24, while CMPDI earned ₹732.84 crore. The listings may happen in tranches to maximize funds raised from the market.

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The three market-beating stocks: Dutch Bros (BROS), Reddit (RDDT), and Lantheus (LNTH). Dutch Bros has a +32.9% return since IPO, driven by same-store sales growth and margin expansion. Reddit is up +64.3%, fueled by rising daily active users and strong EPS growth. Lantheus boasts a +675% five-year return, with impressive revenue growth and cash flow improvements.

OfBusiness, a B2B raw materials platform backed by SoftBank and Tiger Global, has agreed to acquire a Kerala-based manufacturer of herbs and spice-based products. Operated by OFB Tech Ltd, OfBusiness is preparing for an initial public offering (IPO). This acquisition aligns with their strategic growth plans in the raw materials procurement sector.

Imagine Marketing, the parent of wearables brand boAt, has filed draft papers for an IPO via Sebi’s confidential pre-filing route—its second attempt after a failed 2022 try. The confidential route delays public DRHP disclosures and is gaining traction in India for offering firms greater flexibility and reduced regulatory pressure during early IPO stages.

Klarna, a Swedish fintech firm, postponed its planned IPO due to President Trump's tariffs announcement, impacting the 2025 IPO market outlook. The company, aiming to list on the NYSE under "KLAR" with a $15 billion valuation, halted share marketing. Other firms, including StubHub, may also delay listings, reflecting market uncertainty.

Retaggio Industries' IPO debuted at ₹25.10 on BSE SME, 0.40% above the issue price of ₹25. The ₹15.50 crore IPO, offering 61.98 lakh shares, was subscribed 1.86 times. Proceeds will fund debt repayment and working capital. Established in 2022, Retaggio Industries specializes in high-end jewelry, expanding from M/s Vaibhav Gems, founded in 2012.

Retaggio Industries' shares will list on BSE SME, with its IPO subscribed nearly 2 times, driven by retail investors. Priced at Rs 25 per share, the company raised Rs 15 crore for debt repayment and working capital. Specializing in B2B jewellery, including gold, diamond, and heritage pieces, Retaggio combines traditional craftsmanship with modern technology.

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Klarna and StubHub have delayed their IPO plans after President Trump’s tariffs caused a $6 trillion stock market loss. Both companies were set to pitch to investors next week but have paused their roadshows with no timeline to resume. This is StubHub’s second postponement, while Klarna had aimed for a $15 billion valuation amid warnings about tariff risks.

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India’s IPO market has seen no new listings between April 7-15, with the last mainboard IPO in February. However, three SME IPOs—Retaggio Industries, Infonative Solutions, and Spinaroo Commercial—are set to list. Global markets, including India's, have plummeted due to U.S. tariff tensions, with the Nifty and Sensex dropping 2.61% and 2.65%, respectively.

Wall Street’s earnings season begins amid a financial stock rout, with major banks like JPMorgan and Bank of America falling 13-18% after Trump’s tariffs. The banking index (^BKX) saw its worst two-day drop since 2020. IPOs and M&A deals are delayed, and banks face risks from potential recession and lower loan profits, shifting focus to forward guidance.

Fabtech Technologies Cleanrooms, a 2025 multibagger stock, surged over 300% from its ₹85 IPO price, reaching ₹346.40. Listed on BSE SME with a 90% gain, it defied market downturns amid Trump's tariffs. The company increased its stake in Kelvin Air Conditioning to 51%, enhancing its HVAC capabilities and solidifying its cleanroom solutions strategy.

Tata Group has filed draft papers with SEBI for a ₹15,000 crore IPO of Tata Capital, combining primary and secondary issues. Tata Sons and IFC will reduce their stakes. The IPO, awaiting NCLT approval for Tata Motors Finance merger, is part of RBI’s listing mandate for upper-layer NBFCs, marking a significant financial sector offering.

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