Swiggy may price its IPO at Rs 371-390, valuing the company at $11.3 billion (28-10-2024)
Swiggy may fix the IPO price band at Rs 371-390, valuing it at $11.3 billion. The IPO was reduced due to market volatility and Hyundai India’s lacklustre debut. Swiggy’s last private round valuation was $10.7 billion. The IPO, comprising an OFS of Rs 6,800 crore and fresh equity issue of Rs 4,500 crore, is likely to launch in the first week of November.
Aarti Pharma Labs (28-10-2024)
Results are quite lukewarm. CDO/CDMO business has been slipping down further and not sure if management will be able to scale that up. It’s not an easy business and very few in India have been able to establish presence in this space.
Only bright spot was margins that picked up this quarter but still doesn’t compensate flat topline.
Disc- Small quantities received from Aarti Industries merger. Keeping for tracking purpose as I’m also interested in their CDO/CDMO play.
DCX Systems Ltd (28-10-2024)
Today’s order qualifies as this Marquee order inflow.
After the initial 16cr trial order from Lockheed, today’s 380cr order is a massive statement, of intent.
Tech view: Sustenance of upmove in Nifty crucial for buying interest, resistance at 24,567. How to trade tomorrow (28-10-2024)
Nifty closed with a meaningful gain after several days. It formed a high wave type candle, hinting at an upward correction. Support is at 24,073-24,135, and resistance at 24,567. Sustenance of this upmove is crucial. The highest OI on the call side is at 24,500 and 24,400 strike prices, while on the put side, it’s at 24,200 and 24,300.
Genesys International – Product Monetisation (28-10-2024)
Good results IMO.
NTPC Green Energy, Avanse Financial Services get Sebi’s nod to float IPOs (28-10-2024)
NTPC Green Energy — the renewable energy arm of NTPC, and Avanse Financial Services Ltd — an education-focused NBFC, has received Sebi’s go-ahead to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Monday.
NTPC Green Energy and Avanse Financial Services are looking to garner Rs 10,000 crore and Rs 3,500 crore through initial share-sales, respectively.
The two companies, which filed their preliminary IPO papers with Sebi between July and September, obtained their observations during October 22-23, the update showed.
In Sebi’s parlance, obtaining observations means its go-ahead to float the public issue.
NTPC Green Energy’s initial share-sale is entirely a fresh issuance of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).
Of the total proceeds, Rs 7,500 crore will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd’s (NREL) outstanding loans
Greenpanel Industries Ltd. (Demerged Entity of Greenply) (28-10-2024)
September 2024 quarter results declared. Sales down 15.5% y-o-y. Sharp contraction in operating margin. Sequentially, the contraction in operating margin in just 40 basis points. Let’s see how price reacts.
Sebi approves IPOs of NTPC Green Energy, Avanse Financial Services (28-10-2024)
NTPC Green Energy IPO consists entirely of a fresh issue of equity shares. It includes a reserved portion for eligible employees, who will also receive a discount when bidding in this reservation segment.