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â€‹Neil Parikh, CEO of PPFAS Mutual, shares his future plans
â€‹PPFAS Mutual Fund completed 10 years in May. In an interview Neil Parikh shared his plans for the fund house.
Use current consolidation to accumulate gold: Quantum Mutual Fund
Gold prices started May on a high with the background of pain in the US banking sector leading to global risk aversion, the report said. The Fed policy at the start of the month where the Fed chair hinted at flexibility and a meeting-by-meeting approach was considered dovish by markets. This also supported the prices.
Investors with a five-year horizon can expect decent returns from small caps: Sahil Shah of Edelweiss MF
"Smallcap valuations are attractive compared with larger peers. Smallcap Index is trading at a discount to largecap index. It was trading at a premium to the largecap index during the euphoria of 2007 and 2017. People who invested in smallcap stocks back then suffered losses or accrued sub-par returns. The current valuations of small-caps seem reasonable," says Sahil Shah of Edelweiss MF.
Sensex at 100,000 does not look unimaginable, see it going beyond it: Nilesh Shah
â€‹In about 20 years, these six states have reached where India was yesterday. Now, if all of us continue to work in similar fashion for next 20 years, these six states will create today's five India.
Underperforming Nifty Next 50 offers a good entry point
Wealth managers believe the Nifty Next 50 represents the next rung of liquid securities after the Nifty 50 and recommend an allocation to this index for equity investors. The Nifty Next 50 trades at a one-year forward price-earnings ratio of 28, compared with its five-year average of 28.93, making valuations reasonable.
Sebi gives more time for comments on proposal on mechanism for AMCs to detect market abuse
The markets regulator, in its consultation paper issued last month, proposed that AMCs should put in place robust surveillance systems and internal control procedures, to deter possible misconduct by employees or other entities which may have information relating to fund management or investments of mutual fund schemes.
Sebi extends time to submit public comments on proposal on expenses charged to mutual fund investors
Sebi had placed a consultation paper on the review of the total expense ratio (TER) charged by AMCS to unitholders of fund schemes on May 18 and sought comments till June 1 on the proposal.
Is it the right time to invest in Nippon India Small Cap Fund?
If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
â€‹Gold funds offer 16% in one year. Should you invest?
RBI likely to hold interest rates, says Pankaj Pathak of Quantum Mutual Fund
This policy decision should not have any material impact on the bond market though there could be minor fluctuation in yields depending on policy stance and language.
â€‹These risky schemes can make you rich
â€‹These schemes have high risk. But they also have potential to offer higher returns.
4 sectors Taher Badshah is bullish on for near term
â€‹So, one problem is in a way out of the way and alongside which we have also seen actually interest rates presumably going into a bit of a pause mode as far as we can understand and which is again a little better than our expectations because that was supposed to come about more in the second half of the year which basically means that PE multiple decline from year essentially is arrested and that problem at one level is out of the way.
64% equity schemes underperformed their benchmarks in five years
Out of 167 equity schemes that have completed five years in the market, 107 schemes failed to beat their respective benchmarks. These 107 schemes were from across the categories such as contra fund, ELSS, flexi cap, focused fund, large & mid cap, large cap, mid cap, small cap, and value fund.
Why should you add international funds to your portfolio?
Wealth managers recommend investors put some money in international funds to geographically diversify their equity portfolios, hedge currency risks, and gain exposure to companies in cutting-edge technology areas that are not available in India
Follow ethical practices, be transparent, Sebi chief to MFs
The Sebi chief said mutual funds are an important vehicle to encourage investors to participate in the markets. Buch expressed confidence in the industry's potential and said its asset size could grow from the current â‚¹40 lakh crore to â‚¹100 lakh crore.
Best mutual funds to invest for three years
Are you looking to invest for three years?
15 small cap schemes offer over 40% returns in three years on lumpsum investments
A lumpsum investment made on May 24, 2020 of Rs 10,000 in these 15 small cap schemes would have grown between Rs 27,450 to Rs 43,833 in the three-year period.
NFO Watch: 10 new mutual fund offers open this week
Four index funds, a fixed maturity plan, value fund, thematic fund, focused fund, an ETF, and ELSS fund are currently open for subscription in the market. Should you invest in these new fund offers to maximize the returns from your mutual fund portfolio?
Mutual funds shy away from AT-1 bonds amid tighter rules
Data provided by CRISIL Market Intelligence and Analytics to ET showed that MF investments in AT-1 bonds crashed to â‚¹5,382 crore in April 2023, from â‚¹25,057 crore in January 2020.
Sensex rises to 6-month high, briefly scales 63K
Benchmark indices rose to their highest level in nearly six months led by the financials, with the Sensex briefly surpassing the 63,000-mark before trimming some of its gains.
â€˜Sebi fee review to make a big dent in MFsâ€™ profitsâ€™
The Securities and Exchange Board of India (SEBI) may negatively impact India's mutual fund sector with its proposal to review total expense ratio (TER) regulations, according to brokerage Nuvama. The sector's net profitability could fall by up to 27% from listing asset managers' 2024-25 net operating profits due to changes potentially increasing annual fees to include items such as securities transaction tax (STT) and brokerage.
â€‹Best mutual funds for new investors â€‹
â€‹New investors are confused about which mutual funds to start investing in to create wealth.â€‹
ITI Mutual Fund launches ITI Focused Equity Fund
ITI Focused Equity Fund will be benchmarked against Nifty 500 Total Return Index. The fund will be jointly managed by Dhimant Shah and Rohan Korde.
Mirae Asset Mutual Fund launches Mirae Asset Silver ETF
Siddharth Srivastava, Head - ETF Product, Mirae Asset Mutual Fund said, â€œSilver is widely considered to be a relatively in times of economy turmoil and a good hedge against dollar, just like gold. In addition to these factors, silver price has found support from its growing use in industrial settings, which now accounts for roughly half of the silver annual demand. These factors make silver a very compelling asset to be included in an investorâ€™s portfolio either from a long-term point of view or for tactical allocation based on various technical indicators.â€
Our plan is to continue doing things the right way: Neil Parikh of PPFAS Mutual Fund
"Due to the recent changes in debt taxation, there could either be some change to our existing hybrid scheme or a new scheme offering may be considered given the changed environment. Our preference is not to launch too many schemes and clutter the offering," says Neil Parikh of PPFAS Mutual Fund.
Franklin India Flexi Cap Fund: Fund review
The portfolio is well diversified yet retains large positions in its top bets. The fund endured a blip in performance between 2017-2020 but came back strong in 2021 and 2022. The shift in marketâ€™s preference towards value has helped the fund recover smartly.
Sebi to ease compliance burden for passive funds
"By easing the compliance burden, Sebi aims to foster the growth of passive investments in the Indian mutual fund industry," Sebi whole-time member Ananta Barua said while speaking at the mutual fund summit organised by industry body Assocham in the national capital.
â€‹PPFAS Mutual Funds completes 10 years: Road ahead
â€‹Parag Parikh Flexi Cap Fund completes 10 years of existence next week. The scheme was launched in May 2013. The scheme has offered 18.26% returns since inception.
Most equity mutual funds offer double-digit returns in one year. What should be your strategy?
Market experts have been asking investors to tone down their expectations from equity investments. However, if you look at the performance chart, you will be pleasantly surprised that your equity funds offered double-digit returns in one year.
Kotak Mutual Fund launches Kotak NIFTY 200 Momentum 30 Index Fund
The performance of the scheme will be benchmarked against the NIFTY 200 Momentum 30 Index (Total Return Index). The scheme will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.
India on a better wicket compared to the global market: A Balasubramanian
â€‹But my own belief is as interest rates start coming down the next year and supported by good growth coming in, probably we should see some kind of premium valuation starts coming in, which probably should see it coming in next year.
Kotak Nifty PSU Bank ETF, Nippon India ETF Nifty PSU Bank BeES offer over 60% in a year
Kotak Nifty PSU Bank ETF and Nippon India ETF Nifty PSU Bank BeES offered 67.09% and 67.08% returns respectively in a year. NIFTY PSU BANK - TRI, the benchmark for these two schemes, offered 68.19% in the one-year horizon.
Next three years are likely to be rewarding for debt fund investors: Pankaj Pathak of Quantum Mutual Fund
A Dynamic Bond Fund or any other debt fund which invests in long-term debt instruments is highly sensitive to interest rate movements. Thus, in a short period of time, returns could be highly volatile and can even be negative. However, over a longer time frame of over 2-3 years period, returns tend to normalise along with the interest rate cycles.
Why you need silver in your investment portfolio
From an investment point of view, due to its lower correlation with equities and gold-like behaviour when it comes to robustness during times of economic turmoil, silver becomes a very compelling asset to be included in an investor portfolio.
India's earnings proving much more resilient and robust versus other EMs: Manish Gunwani
I think a lot of it has to do to my mind with two or three things. One is your external account situation obviously has gone through a sea change because energy prices are down, service exports have done well. The dollar itself has weakened.
â€˜Larger size does constrain in some ways, it is not as bad as some people fear,â€™ says Rajeev Thakkar
â€œThe size of Parag Parikh Flexi Cap Fund has surely grown over the last decade. This has prompted some to wonder whether we should close for fresh investments. We are not considering this for now,â€ Thakkar said.
NFO Watch: Eight new mutual fund offers open this week
Three index funds, two thematic funds, a fixed maturity plan, value fund, and an ELSS fund are open for subscription in the market. Should you invest in these new fund offers to maximize the returns from your mutual fund portfolio?
HNIs embracing passive funds on under-performance of active funds
In addition to ETF, in the index funds too, HNIs have witnessed an AUM CAGR of 145 per cent over the past four years. Apart from HNIs, retail AUM in ETFs has posted a CAGR of 56 per cent over FY19-23 to Rs 9,700 crore in FY23.
How to monitor performance of mutual fund schemes?
While past returns are an important parameter to consider performance, they must not be looked at in isolation. The data that a large cap fund returned 20% in the last one year does not indicate much. It must be compared with its benchmark and other schemes in the large cap space.
How is Sebi asking AMCs to use Investor Education Fund? DP Singh explains
I am sure looking at all angles from this thing, from the investor point of view, from the industry point of view, from the intermediary point of view and more than anything else keeping in view the growth of the industry, I think the final whatever will come will be for the benefit of everybody.
UTI Mutual Fund launches UTI S&P BSE Housing Index Fund
The performance of the scheme will be benchmarked against S&P BSE Housing TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.
UTI Mutual Fund launches UTI Nifty50 Equal Weight Index Fund
The performance of the scheme will be benchmarked against NIFTY50 Equal Weight TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.
Will your mutual funds be able to charge performance-linked fees?
Sebi wanted to cap the Total Expense Ratio charged by mutual funds as the total costs incurred by investors were way above the prescribed fee. The Sebi also proposed a performance-linked fee. Will it make a big difference to mutual fund investors?
Additional liquidity can be positive for near-term banking liquidity, favourable for rates: Axis MF
The RBI announced withdrawal of Rs 2,000 notes this week and have given time to deposit the notes with banks up to 30 September 2023. Also, a withdrawal of Rs 20,000 per person per day of notes in exchange is allowed.
Expect rate cut in next 1 year; 10-year bond yields to start rallying: Devang Shah, Axis MF
10-year bond yields are expected to start rallying due to inflation and weakening macroeconomic data. Rate cuts are expected to be built in over the next six months, and from RBI's perspective, around 50 bps of rate cuts are anticipated in the next year. Interest rates are expected to move lower, causing the addition of duration to all portfolios. Long bonds will perform well initially and short-term funds when rate cuts occur. Corporate bond spreads are attractive for the three- to five-year segment.
HDFC Mutual Funds's NFO a high-risk bet on India's defence prowess
HDFC Defence Fund will follow a multi cap strategy and build a portfolio with a focus on growth and quality at reasonable valuations by investing across large-, mid- and small-cap stocks.
86% mid cap funds fail to beat their benchmarks in 5 years
Around 11 mid cap schemes failed to beat their respective benchmarks in one, three, and five-year horizons. Tata Mid Cap Growth Fund, one of the oldest mid cap funds, underperformed its benchmark in all three horizons.
Improving equity outlook brings Rs 3,712 crore into arbitrage funds in April
"Given the attractive spreads and higher interest in equities, arbitrage funds can deliver a 7% return. These returns are similar to liquid funds with better tax efficiency," said Viral Bhatt, founder of Money Mantra.
HSBC Large Cap Fund: Fund review
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
India has fared far better than other major economies: Sailesh Raj Bhan, Nippon India Mutual Fund
" Some signs of improvements are now showing. Earnings should start improving from 6-7% to 12-15% in around 6-12 months."
IKIO Lighting IPO: 10 things to know about the public offer
Indian LED lighting solutions manufacturer IKIO Lighting is launching its initial public offering (IPO) June 6-8, with shares expected to start trading on June 16. The company's shares will likely be listed at between INR270 ($3.81) and INR285 per equity share, with the upper end of that range raising INR607 crore for the company. The IPO will include a fresh equity issue of up to INR350 crore and an offer for sale of up to 9 million shares. The proceeds will be used to repay borrowings, invest in subsidiary IKIO Solutions and for general corporate purposes.
IKIO Lighting's Rs 607-crore IPO to open on June 6
Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.
IKIO Lighting IPO to open on June 6; price band fixed at Rs 270-285 per share
Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
SME IPO tracker: Infollion Research offer subscribed 5.68 times; CFF Fluid Control issue subscribed 54% so far
Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.
SME IPO: CFF Fluid Control issue to open for subscription on Tuesday. 10 things to know about the issue
CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.
Krishca Strapping Solutions lists at 120% premium
Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around â‚¹18 crore through the IPO, which was subscribed 244.92 times.
SME IPO: Crayons Advertising subscribed 147 times, listing on June 2
Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.
Happy Forgings plans up to Rs 1,200 crore IPO
Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.
Ola Electric plans up to $1b IPO at $10b valuation
The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didnâ€™t respond to the queries, while ICICI Securitiesâ€™ spokesperson declined to comment
SME IPO: Infollion Research Services' public issue opens on May 29. Top 10 things to know
Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.
Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak: Report
Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.
SME IPO tracker: Hemant Surgical Industries issue subscribed 2.45 times; Proventus Agrocom's offer subscribed 4% so far on Day 1
The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.
SME IPO Tracker: Vasa Denticity gets muted response on Day 1; Auro Impex and Chemicals sees flat listing
The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.
Pune-based IT firm Vinsys completes pre-IPO round at Rs 200 cr valuation
Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.
SME IPO: Crayons Advertising public offer fully subscribed within hours of opening on Day 1
Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.
ECGC IPO likely to be pushed to next fiscal amid volatility
The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.
DRHP filing for IREDA listing likely in 6 months
The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.
SME IPO: Hemant Surgical issue to open on May 24. 10 things to know about the offer
Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements
Vasa Denticity SME IPO: 10 things to know about the public offer
Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'
Nexus Select Trust REIT IPO listing likely on Friday. What to expect
Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.
Crayons Advertising SME IPO: 10 things you must know before investing
Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.
Manyavar promoters to launch OFS
The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.
SME IPO: Remus Pharmaceuticals gets muted response on Day 1. 8 key things to know about the issue
Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from
SME IPO: Crayons Advertising IPO to open on May 22, price band fixed at Rs 62-65
Crayons Advertising, a homegrown integrated advertising agency, is set to go public on Monday, May 22, with a price band of Rs 62-65 per share. The company plans to use the proceeds from the public issue to invest in setting up its own film and animation studios and enhancing its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech.
SME IPO: Krishca Strapping Solutions gets strong response on Day 1. 10 things to know about the issue
Krishca Strapping Solutions has announced its Initial Public Offering (IPO), planning to raise Rs 18 crore. The manufacturing company, incorporated in 2017, specializes in making and selling high-quality steel straps, steel seals, strapping tools and other packaging solutions. The IPO's size consists of up to 33.2 lakh equity shares with a face value of Rs 10 each. The company has a steel strapping capacity of 18,000 MT annually and aims to use the net proceeds for setting up a new strapping line, repayment of debt and for other corporate purposes.
Blackstone Group-backed Nexus Select Trust REIT to list on Friday
Nexus Select Trust, India's first retail assets-led real estate investment trust (REIT), backed by Blackstone Group, has raised over INR1.44bn ($19m), accounting for 45% of a $429m IPO, from 16 institutional investors in its fully-subscribed anchor book. The REIT owns 17 assets across 14 cities with Mumbai, Bangalore and Delhi being the primary markets. At the upper end of the IPO's price band, which was INR95-100 per unit, the issue was subscribed 6.55 times in the non-institutional investor category and 5.06 times by institutional investors.
Nexus Select Trust REIT IPO allotment expected tomorrow. Here's how you can check status
Nexus Select Trust REIT IPO's share allotment is set to take place on May 16th, with the process being supervised by the registrar. Investors may receive shares based on a lottery basis. Investors can check their allotment status through the BSE or the registrar's website. Currently, Nexus Select Trust shares are commanding a premium of â‚¹2 in the unlisted market. The company aims to offer a pre-tax yield of 8% in FY24, at the upper price band, and will be Indiaâ€™s first REIT with rent-yielding retail real estate assets.
Jupiter Hospital files DRHP with Sebi for Rs 900-1,100 crore IPO
Sources told ET that the total IPO size would be Rs 900 - 1,100 crore, and the company may consider a Pre IPO placement of Rs 123 crore.
Nexus Select Trust IPO subscribed 5.7x
The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of â‚¹95-100 per unit.
Nexus Select Trust REIT issue closes with 5.74 times subscription
Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.
Nexus Select Trust REIT IPO sails through on Day 3
India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.
JSW Infrastructure files papers for Rs 2,800-cr IPO
The ports business of the Sajjan Jindal-led JSW Group plans to deploy the proceeds of the public issue to retire its debt and fund capacity expansion projects. The IPO is entirely a fresh share issue.
Nexus Select Trust REIT IPO receives 57% subscription on Day 2 of offer
Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyerâ€™s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May.
JSW Infrastructure files DRHP to raise up to Rs 2,800 crore via IPO
The JSW Infrastructure IPO is the third public listing by the JSW Group and follows 13 years after the public listing of JSW Energy in January 2010. JSW Infrastructure Promoters will not be diluting their current stake.
Mankind Pharma rallies 32% on day 1
At Tuesday's closing price, Mankind Pharma was valued at a price-to-earnings ratio of 43 times its FY22 earnings. Mankind is now India's fifth largest pharma company by market value of â‚¹57,046 crore. Sun Pharma, Divi's Lab, Dr. Reddy's Lab, and Cipla are currently valued between â‚¹75,284 crore and â‚¹2.31 lakh crore.
Nexus Select REIT IPO subscribed 28% on Day 1, non-QIB portion subscribed 42%
Nexus Select Trust real estate investment trust (REIT), which includes a fresh offering and OFS portion, was subscribed 28% on the first day of the IPO. The REIT has a price band of Rs 95-100 per unit and closed on May 11. A day ahead of the IPO, Nexus raised Rs 1,440 crore from anchor investors. At the upper band of Rs 100 per unit, the company has a market cap of Rs 15,150 crore and offers a pre-tax yield of 8% in FY24. It is the largest mall platform in India and includes 17 high-quality assets.
Nexus Select Trust REIT IPO: Indiaâ€™s first rental yielding retail REIT opens. Should you subscribe?
Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore.
Mankind Pharma IPO: What GMP signals ahead of listing on Tuesday
Mankind Pharma is set to list on May 9 with a premium of Rs 120 apiece according to grey market trends. The company is valued at a price-to-earnings ratio of 30 times FY22 earnings and has a market capitalisation of Rs 44,000 crore. The initial share sale of the company was subscribed 15.32 times with strong interest from QIBs and is the largest IPO so far this year. The company has 25 manufacturing facilities across India, a dedicated in-house R&D centre and a team of over 600 scientists.
Alibaba logistics arm eyes up to $2 billion Hong Kong IPO: Reports
Cainiao Network Technology's initial public offering (IPO) plan comes after Alibaba flagged in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.
TPG-backed RR Kabel files IPO papers with Sebi
RR Kabel proposes to utilise the net proceeds towards the funding of repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions estimated to be Rs 170 crores.
GoI, Vedanta likely to discuss Balco IPO
The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.
Select Citywalk, Elante Mall & more: India's largest mall platform - Nexus Select to launch REIT IPO on May 9
Nexus Select Trust REIT IPO: 10 things to know about the first retail asset offering in India
India's first retail asset offering, Nexus Select Trust, will launch its IPO on May 9, closing on May 11, with a price band for its initial shares of between INR 95-100 ($1.28-$1.35). The company, which has 17 high-quality mall assets in 14 cities across India with a total leasable area of 9.2 million sq ft, is the country's largest mall platform. The IPO comprises a fresh issue of shares worth INR 1,400 crore and a sale of existing shares of up to INR 1,800 crore.
Nexus Select Trust REIT IPO: Price band announced, check dates
Nexus Select Trust is Indiaâ€™s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities such as Delhi (Select Citywalk), Navi Mumbai (Nexus Seawoods), Bengaluru (Nexus Koramangala), Chandigarh (Nexus Elante), Ahmedabad (Nexus Ahmedabad One) among others.â€‹
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The public issue comprises a fresh issue of Rs 300 crore and an offer for the sale of 48.69 lakh equity shares. The offer also includes a reservation for a subscription by eligible employees.
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The IPO comprises fresh issues of up to Rs 625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by promoter and investor selling shareholders.
Sebi returns IPO papers of Akme Fintrade
The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on February 16.
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Mankind Pharma's Rs 4,326 crore initial public offering (IPO), the largest by a domestic drug maker so far in 2021 and with a 15.32 times subscription rate, will have share allotments made on 3 May via a lottery. Retail investor bids for the offer-for-sale fell below 100%. The IPO values Mankind Pharma at a price/earnings ratio of 30 times FY22 earnings, with its shares said to command a Rs 95-98 premium in the unlisted market, indicating an expected premium of 9% for the company when it lists. Mankind Pharma has 25 manufacturing facilities in India.
Blackstone-backed Nexus Select Trust's Rs 3,200 cr REIT IPO to open on May 9
The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.