Fund Performance

Maruti Suzuki India's addition of Jimny to its fleet and a blitzkrieg of EV model launches could see its stock become a multibagger in the next four to five years, says Vinit Bolinjkar, Head of Research at Ventura Securities. Maruti Suzuki launched Jimny and plans to release more models during the next year, with Bolinjkar predicting a 50% upside in Maruti stocks over the next two years, becoming a multibagger in the following four to five years. Analysts are unsure how the Jimny product launch will fare and see competition as fierce, with the EV market being a key arena for Maruti to improve its performance.

The Nifty50 index remained within a narrow trading range, and closed with a slight gain of 29.30 points on a weekly basis, despite flirting with important resistance zones. Weak market breadth and the very low level of the India VIX are delaying an otherwise imminent breakout, and if the breakout occurs in these conditions, a questionable rally is expected. The RRG analysis shows Nifty Consumption, Auto, and MidCap 100 indices are inside the leading quadrant and may outperform broader markets, while Nifty Financial Services and BankNifty have shifted to the weakening quadrant.

For most of us, spreading your money across different baskets is the best way to protect and grow your money.

Once we are able to cross above 18,750 on a closing basis, then short covering action can be there in the market. Then possibly Nifty can scale a new all-time high also. Buy-on-dip should be your strategy on the downside.

As far as the IT sector is concerned, much of the underperformance is over. If you notice the trajectory of most IT companies, they have fallen quite a bit in the last one odd year. In fact, even the quarter four results and the guidance that has come out of the quarter four results have been particularly poor. And that said, we always have to weigh the outlook with the underlying valuations of the company.

Gold closed the week at $1,960.88 with a gain of 0.70%. Two-year US yields rose by almost 2% while ten-year yields increased by 1.11%. The US weekly jobless claims rose by 28,000 jobs to 261,000 jobs, the highest level reached in almost six years, sparking recession concerns. The US ISM non-manufacturing report for May also disappointed on multiple fronts. The US Federal Reserve indicated it will skip a rate hike at its June FOMC meeting. The Bank of Canada and the Reserve Bank of Australia unexpectedly hiked rates against market consensus, and the Swiss National Bank also issued an inflation warning.

The Q4FY23 results were slightly better than expected, with the Nifty50 index showing 15% YoY earnings growth and the broader market seeing approximately 10% growth. Financials and auto enjoyed the most significant upgrades, while IT, pharma, and metals experienced downside. The Indian economy witnessed a real GDP growth rate of 7.2% in FY23 with the market expecting better corporate profit performance in FY24, despite a projected slowdown. Companies with stable domestic demand and those oriented towards the domestic market are likely to benefit the most, with value-oriented investments and stock-specific approaches recommended.

Total Shareholder Return (TSR) measures an investor's rate of return after buying a company's stock. It is calculated by adding a company's change in share price and total dividend earned during the investment period, and then dividing it by the share price at the beginning of the year. Net income growth, earnings per share (EPS), and price-to-earnings (PE) ratio are the drivers of TSR. However, cost-cutting, declining PE multiples, and dividend yield can impact TSR. It is vital to assess other stock ratios and factors beyond TSR to evaluate stocks better and identify promising investment opportunities.

In the past, Indian citizens preferred traditional saving options due to the high-risk perception of the equity market. But with the shift in technology and financial literacy coupled with low-interest rates, people started viewing the stock market as a way to earn a passive income. The COVID-19 pandemic has resulted in many entering the market for the first time and subsequently aiming to become a professional trader.

Long Straddle and Long Strangle are option buying strategies used by traders in unpredictable events such as election results or company AGMs. For a long straddle, they buy an at-the-money call and an at-the-money put together, making a profit in a heavily rising or falling market. A long strangle, however, uses out-of-the-money options instead. The opposite of these strategies is a short straddle, selling at-the-money call and put to benefit only when the market is flat. It requires more capital and can be riskier than the long strategies.

Indian hotel companies have been enjoying a winning streak on the stock market, with share prices of major players up by over 50% in the past year. Boosted by domestic leisure and corporate travel, international travel, sports tournaments and the recent G20 summit in India, the demand outlook is encouraging for further growth. Optimistic hoteliers have added more rooms to match the demand, resulting in a surge in occupancy rates. The aviation sector has also reported great results, with healthy growth potential ahead. Investors are advised to look to quality names within the theme, with the stock prices already factoring in a fast recovery.

Binance.US has announced that it will be halting dollar deposits as its banking partners prepare to put a freeze on all dollar withdrawal channels due to the US SEC's lawsuit against the parent company Binance. Meanwhile, Robinhood has delisted three crypto tokens identified by the SEC as securities in its lawsuits against Binance and Coinbase. These actions raise questions about whether Binance.US can survive the lawsuit. Binance has denied the charges, but it could not deny the SEC's assertion of jurisdiction over most tokens, potentially putting many other crypto exchanges in the firing line.

Cryptocurrency exchange FTX has been granted permission by a US judge to redact the names of its individual customers from bankruptcy filings indefinitely. The judge warned that publishing identifying information would expose customers to risks such as scams and identity theft. The company was also permitted to remove customer names of companies and institutional investors temporarily, with a further review scheduled for 90 days. FTX and liquidators overseeing the wind-down of the firm's Bahamian affiliate were ordered to try and avoid inconsistent rulings in separate court proceedings in the US and Bahamas.

Robinhood Markets said on Friday it is removing three cryptocurrency tokens from its platform, days after the U.S. securities regulator's crackdown against the industry's biggest exchanges.

The US Securities and Exchange Commission (SEC) has filed separate lawsuits against Binance and Coinbase alleging securities law violations. The charges claim that Binance violated regulations by allowing US customers to trade despite a ban, and that Coinbase engaged in securities trade without sufficient registration, operating as an unregistered broker and exchange.

Tata Elxsi's shares have shown an increase of almost 5,879% in the last decade, giving an investment of INR 10,000 a value of almost INR 6 lakh. The company provides design and tech services to a range of industries, including healthcare, automotive, media, and transport. Its Q4 net profit rose 25% to INR 201 crore ($29.78m) compared to the previous year's INR 160 crore. Analysts suggest that investors should hold the shares but avoid new investments due to a recent pullback, and the stock is presently above its 50- and 200-day Simple Moving Averages.

Indian shipbuilding company, Mazagon Dock Shipbuilders, has seen a surge in its stock value, rising as much as 286% in the past year. The surge has continued with the stock rising 37% in the past month. The company has strong order backlog of INR 38,754 crore as of March 2023 and is expected to benefit from upcoming bids from the Indian Ministry of Defence, helping to improve the order book and revenue visibility of the company. Investors are advised to invest in the stock in the Rs. 1009-1050 band with a base target price of Rs. 1,131.

Stoxbox's Swapnil Shah has recommended Bank of Baroda, AB Capital, Schaeffler India, Ugar Sugar, and Tata Communications as top buys for the coming week. While the Nifty Index faces hurdles around levels of 18,810-18,750, Shah believes the primary trend remains healthy and anticipates the index will take a breather and amass bullish strength amid crucial support near 18,450 before continuing upwards. Shah advises waiting a few quarters before committing to midcap IT stocks due to deterioration in the global economic outlook. Meanwhile, Suzlon Energy's cash injection, along with government measures related to bidding, makes it a good buy for the long term.

Three people — Suman Mahajan, Susmita Nag and Tushar Kanti Mondal — are collecting money from gullible investors and offering guaranteed returns by investing the money in stocks. Both Zerodha and Angel One had complained to the exchanges about them and their entities. Based on this, the NSE has cautioned investors not to deal with these entities.

A broadening equity rally in the US is underway, expanding beyond mega-cap companies and into small caps, energy shares and industrial stocks, resulting in the rise of the S&P 500 nearly 12% year-to-date. Investors, repositioning portfolios primed for a widely-expected recession, are beginning to reap the rewards of increased allocation to economically sensitive markets. This development may ease worries of the market's narrow leadership, previously dominated by just seven mega-cap companies, some of which will have contributed to the majority of the index's gains for 2021. The resurgence in small cap companies has also seen the Russell 2000 small cap index rise by 6.6% this month alone.

Tesla's stock is on track to more than double this year, thanks to several positive developments. The electric vehicle company has seen an 11-day run of good news, adding over $194bn to its market valuation. The return of bullish market conviction and GM's announcement that it will adapt its EVs to Tesla’s Superchargers also helped boost Tesla's recent gains. In addition, Tesla has been helped by all of its Model 3 sedans becoming full eligible for a US tax credit and its AI tech catching the investment community's attention.

Dr Mark Mobius, the founder of Mobius Capital Partners, maintains his mental and physical fitness by learning new things, travelling, stationary cycling and weight training. Managing $300m in assets under management (AUM) across countries, Mobius advises fund managers not to put themselves under high pressure, to tell investors not to expect quick results, and be prepared to face market downturns.

Several online bond platforms in India are considering creating an industry association similar to the Association of Mutual Funds in India, after a request from the Securities and Exchange Board of India. The association would help address industry issues and grievances. IndiaBonds, GoldenPi and The Fixed Income and Bond Bazar are among the regulators currently recognized. Retail interest in online bond investing has grown since Sebi reduced the face value of debt securities issued in private placements to INR 1 lakh from INR 10 lakh. The regulatory body has also implemented new rules around transparency, settlements, redressal mechanisms and offerings.

Shares of the Indian Energy Exchange (IEX) fell 18% in two trading sessions due to the Ministry of Power's directions to initiate a market coupling process. This could make prices uniform across platforms, which could reduce the role of energy exchanges. The government entity will make the price discovery, and the exchanges will only serve as an aggregation platform. Analysts advise investors to avoid the stock until the coupling issue is clarified. Market coupling means that a government entity will make the price discovery based on which power will be dispatched on platforms like IEX.

Investors in India withdrew INR3,240 crore ($475m) from equity mutual funds in May, half the prior month's total as they looked to cash in on the equities rally. Despite the slump in equity mutual funds, inflows to systematic investment plans hit an all-time high of INR14,749 crore, versus INR13,728 crore in April. Assets under management also rose to INR42.94 lakh crore. While small and midcap funds attracted flows, large-cap, flexi-cap and focused funds lost funds, along with ELSS schemes. Large-cap funds are struggling to beat the benchmark, leading investors to pursue passive funds.

Indian equity markets started positively, but weak sentiments persist after the central bank's decision to maintain the key rates unchanged, as a caution towards inflation, while positive macro news buoyed the market. 75 smallcap stocks delivered double-digit gains with the top gainers being Greenlam Industries, EKI Energy Services, Suzlon Energy, and Indian Hume Pipe Company. Midcap segments, only Torrent Power, Hindustan Aeronautics, and Ajanta Pharma traded in the double digits. L&T was the top performer in the Sensex market. The release of May's domestic inflation data and the outcomes of the FOMC meeting is expected to play a role in shaping the market trend.

The S&P 500 ended higher on Friday, led by a rally in Tesla, but missed session highs. The market is closely watching the Federal Reserve's policy meeting and inflation data next week. Tesla shares rose by 4.06%, as General Motors agreed to use the company's Supercharger network. The S&P 500 gained 0.11% to 4,298.86 points, marking an extension of its winning streak to four consecutive weeks. Traders predict 72% chances of the Federal Reserve holding interest rates while consumer prices data on Tuesday will help shape expectations of further rate hikes in July.

Goldman's chief U.S. equity strategist David Kostin said in a note to clients the firm's 2023 earnings per share forecast for the S&P 500 of $224 remains unchanged and assumes a soft landing for the U.S. economy, as the economics team projects only a 25% probability of a recession over the next 12 months.

Life Insurance Corporation of India (LIC) has raised its stake in state-owned steel production firm SAIL by about 2 per cent through an open market acquisition. LIC bought 8.26 crore shares or 2.001 per cent of equity capital at an average price of Rs 66.18 per unit, the insurer said in a regulatory filing

The Securities and Exchange Board of India (SEBI) has cancelled the registration of Emkay Commotrade for giving access to illegal 'paired contracts' on the defunct National Spot Exchange (NSEL). SEBI said it raised doubts on the company's competency to act as a registered securities market intermediary and that the company cannot be called a 'fit and proper person' for holding the certificate of registration. The NSEL's 'paired contracts' trading scheme saw investors incur a loss of INR 5,500 crore ($736.8m). Emkay's clients must withdraw or transfer their securities or funds within the next 15 days.

Indian electric scooter maker Ola Electric is kicking off meetings with potential investors in Singapore and the US to gauge interest in its planned $1bn initial public offering. The fundraising drive, expected in late 2023, will target $600m to $1bn. CEO Bhavish Aggarwal will hold talks including with BlackRock, Singapore's GIC, and T Rowe Price. Though Ola is yet to file regulatory papers for approval, it is thought to be planning to do so by August. It wants to explain the growth and potential of India's nascent electric vehicle market to investors.

Shares of Tesla jumped nearly 7% following a partnership between General Motors (GM) and Ford to use Tesla's electric-vehicle charging network, which could make Tesla Superchargers a new industry standard in the US. This move ensures that the country's EV market can access Tesla's North American Charging Standard (NACS), which presents a big win for the rare partnership, making it the primary network in the country. The tie-up will increase the pressure on other automakers to upgrade their networks to work with Tesla's. Tesla's charging network is more widespread and reliable than the alternative combined charging system.

Despite global economic activity slowing down, the absence of any significant financial accidents, robust employment conditions, and stronger balance sheets have aided in withstanding the normalisation cycle better than expected. However, the pressure on demand conditions may continue to rise due to higher nominal yield curves and tightened lending standards. Although corporate earnings have surpassed expectations, inflation will likely remain elevated compared to pre-Covid levels. The worst of the inflation scare may be over, but central banks are unlikely to resort to rate cuts unless there is a threat to financial stability. RBI's proactive stance has supported India's growth momentum, but fiscal deficit run rate is 6%, and pre-emptive loosening can backfire, resulting in higher inflation. Thus, rates may remain higher for longer, and short-term funds may provide healthier accruals without taking significant duration risk.

Equity-linked saving schemes offer tax benefits under Section 80C of the Income Tax Act. Equity mutual funds have a lock-in period of 3 years and gains are taxed at 15% for less than a year. The top five tax-saving mutual funds on the basis of returns for 3 years are Quant Tax Plan (33.04%), BOI AXA Tax Advantage (23.75%), Mirae Asset Tax Saver Fund (20.04%), Canara Robeco Equity Tax Saver (19.84%), and IDFC Tax Advantage (ELSS) (18.89%). For 5 years, the top five funds are Quant Tax Plan (22.50%), BOI AXA Tax Advantage (18.26%), Mirae Asset Tax Saver Fund (18.22%), Canara Robeco Equity Tax Saver (17.26%), and IDFC Tax Advantage (ELSS) (16.24%).

The deal was executed at a weighted average price of Rs 1,855.64 and Canada Pension fund took home Rs 6,123 crore through the stake sale. As of March quarter, Canada Pension fund holds 4.6% stake. With the sale of the latest stake, the holding of Canada Pension fund came down to 3%.

Axis Securities predicts that macroeconomic scenarios will dictate the market in the upcoming months, with rural and domestic-focused themes expected to gain momentum. It has revised the December 2023 Nifty target upwards to 20,200, indicating an upside of 9-10% from the current level. Axis Securities recommended investors maintain liquidity, awaiting the market dips to build a position in quality companies with high earnings visibility. Midcaps are identified as growth sweet spots, while small caps are bottom-up plays. In the year-to-date, both foreign and domestic investors have been net buyers in the Indian equity market.

Singapore-based Sion Investment Holdings has sold a nearly 13.7% stake in CMS Info Systems, which has been purchased by Abu Dhabi Investment Authority and Norges Bank, picking up 1.29% and 1.69% of the stake, respectively. Meanwhile, three domestic fund houses – SBI Mutual Fund, 360 One Mutual Fund, and IIFL Mutual Fund – have added stakes in CMS Info Systems. Public stakeholders include mutual funds, which have a 10.02% stake, while foreign investors have a 12.94% stake.

Canada Pension Plan Investment Board on Friday divested around 1.7 per cent stake in private lender Kotak Mahindra Bank for Rs 6,123 crore through an open market transaction. According to the bulk deal data available with the BSE, Canada Pension Plan Investment Board (CPPIB) offloaded 3.30 crore shares, amounting to a 1.66 per cent stake in Kotak Mahindra Bank

The Dow Jones Industrial Average rose 18.83 points, or 0.06%, at the open to 33,852.44.

Maan Aluminium has approved a 1:2 equity share split, which is intended to increase the stock's liquidity. The Board of the Indian company has also approved a 1:1 bonus issue of equity shares to existing shareholders, subject to approval at the annual general meeting. Bonus shares will be fully paid additional shares and issued to shareholders in proportion to the number of shares they already own, increasing liquidity and lowering the stock's price to make it more affordable to investors. The company produces aluminium for several industries and its share price has nearly tripled investors' wealth in the last year.

India's ultra-high net worth individuals (UHNWIs), with a net worth of over $30 million, are estimated to rise by 58.4% in five years

The National Stock Exchange (NSE) of India has warned investors against individuals collecting funds as Angel One Industry and Zerodha Industry, promising assured returns on investments. These entities are not registered members of the exchange. Exchanges caution investors of unregistered trading firms and advisors who guarantee returns. SEBI has recently taken steps to check illegal practices of advisory in the market, due to the rise of individual financial and investment advisors termed as "finfluencers". Last month, a well-known YouTube finfluencer was ordered to pay settlement and disgorgement fees for violating investment advisor regulations.

Indian electric scooter maker Ola Electric is kicking off meetings with potential investors in Singapore and the US to gauge interest in its planned $1bn initial public offering. The fundraising drive, expected in late 2023, will target $600m to $1bn. CEO Bhavish Aggarwal will hold talks including with BlackRock, Singapore's GIC, and T Rowe Price. Though Ola is yet to file regulatory papers for approval, it is thought to be planning to do so by August. It wants to explain the growth and potential of India's nascent electric vehicle market to investors.

Western Carriers, a logistics service provider with over 50 years of experience, has filed draft papers for an initial public offering (IPO) to raise funds through a fresh equity issue of up to Rs 500 crore and an offer for sale of 93.28 lakh shares by the promoter. The company operates on an asset-light business model and provides 3PL and 4PL logistic solutions. It had over 1,100 clients in sectors such as metals and mining, FMCG, pharmaceuticals, among others. The IPO funds will be used for prepaying a portion of certain outstanding borrowings and funding capital expenditure requirements.

HMA Agro Industries, a leading exporter of frozen buffalo meat in India, is set to launch its Rs 480 crore ($72m) initial share sale which opens on 20 June and closes on 23 June. The public offer comprises a fresh issue of equity shares up to Rs 150 crore and an offer for sale of Rs 330 crore by promoters and selling shareholders. The price band for the public offer has been set at Rs 555-585 per equity share, the upper end of which values the company at Rs 2,929 crore.

IKIO Lighting, which had an initial public offering (IPO) worth Rs 607 crore ($81.2 million), has received a healthy response from investors. The IPO was subscribed 397 times with bids for 100,92,76,892 shares against 1,52,24,074 shares on offer. The qualified institutional buyers (QIBs) category was subscribed 163.58 times, accompanied by non-institutional investors with 63.35 times, and the retail investors' quota recording a 13.86 times subscription. The net proceeds from the public offering will be used to repay borrowings, invest in its subsidiary, IKIO Solutions, and other corporate purposes.

The portion reserved for qualified institutional investors was subscribed 164 times, while the portion for non-institutional investors, or high-net-worth individuals, was subscribed 63 times. The retail portion was subscribed 14 times.

Urban Enviro Waste Management, the waste handling and management services provider, has announced an Initial Public Offering (IPO) to raise INR11.42 crore ($1.6m). The sale opens on 12 June and closes on 14 June with shares due to be listed on NSE EMERGE, a platform for small and medium-sized enterprises. The sale consists of a fresh issue of 920,000 equity shares with a face value of INR10 each, aggregating to INR9.2 crore; and an offer for sale component of 222,000 equity shares. The net proceeds will be used for repaying certain secured borrowings, and other purposes.

Valiant Laboratories is an Active Pharmaceutical Ingredient (API) or bulk drug manufacturing company with its focus on manufacturing Paracetamol, which is used in the treatment of headache, muscle ache, arthritis, back ache, toothache, cold and fever.

Infollion Research Services stocks made an exceptional debut on NSE Emerge platform with shares listed at Rs 209, a premium of 155% as compared to its issue price of Rs 82. The shares then fell by 13% to Rs 198.55. The public offer of the company was subscribed 279 times at close, with non-institutional investors contributing 560 times bids and retail investors' portion subscribed 264 times. The company will use the raised funds for expanding its current service line in the US and Western European region, adding categories of freelancer and technology development.

HMA Agro Industries' initial public offering (IPO) worth INR 480 crore ($63.5m) will be open for public subscription from 20-23 June with a price band of INR 555-585 per share. The IPO includes an offer for sale of INR 330 crore by promoters and selling shareholders. Aryaman Financial Services is the book-running lead manager to the issue and Bigshare Services is the registrar. HMA Agro Industries proposes to utilise the net proceeds of the fresh issue for working capital requirements and general corporate purposes.

IKIO Lighting's Rs 607 crore initial public offering (IPO) has been oversubscribed 11.46 times on strong demand from non-institutional investors. The company has set a price band of Rs 270-285 per equity share with a minimum bid of 52 shares. The issue comprises a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The grey market premium of the company has been on an upward trend and its shares are commanding a premium of Rs 118 in the unlisted market.

The IPO of IKIO Lighting, which closes on June 8, has been subscribed 6.83 times so far, with non-institutional investors leading the heavy bidding. The company's shares are commanding a premium of Rs 118 in the grey market, with listing gains looking increasingly likely.

Valiant Laboratories Ltd, the subsidiary of Valiant Organics said it has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with stock market regulator Sebi.

Tata Technologies, a unit of Tata Motors, is expected to list its IPO in five to six months. In the unlisted market, shares are trading at around Rs 850. Analysts expect the stock to list at a premium and currently predict a bump of between 20% and 30%.

The price band for the issue has been set at Rs 169 to Rs 173 per share, and the IPO size is estimated to be about Rs 105.14 crore at the upper price band. Proceeds from the IPO will be utilised to support the company's working capital requirements, acquisitions of businesses in similar or complementary areas, general corporate purposes and meeting its issue expenses.

The issue, which closes on June 8, comprises a fresh equity issue of up to Rs 350 crore and an offer for sale (OFS) of up to 90 lakh shares. The company has set a price band of Rs 270-285 per unit and investors can bid for a minimum of 52 shares in one lot and multiples thereafter. At the upper end, the company plans to raise about Rs 607 crore.

IKIO Lighting designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands. The company is largely into manufacturing premium products. Its products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and others.

The company informed the bourses that it allocated 63.8 million shares at ₹285 per share on Monday to anchor investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs AMC, Malabar India Fund, Mirae Asset Global, among others. The company has fixed the price band for the public issue at ₹270 to ₹285 per share.

The public sector bank, which wants to monetise its non-core assets, held consultations with investment bankers recently to carry out the proposed stake sale, said the people aware of the developments.

Hemant Surgicals made a strong debut on the BSE SME platform with its shares being listed at a 90% premium over its issue price of Rs 90. The stock closed at Rs 179.55, a nearly 100% increase over the offer price. The company's Rs 24.8 crore public offer was oversubscribed by 139 times.

Pune-based IT services firm Vinsys IT plans to use the book-building process to float 3.89 million equity shares of Rs 10 each, and will appoint merchant bankers to the issue.

Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.

Noida-based company IKIO Lighting's Rs 607 crore initial public offering (IPO) will open for subscription on 1 June and close on 8 June. The company's stock is commanding a premium of Rs 92-94 in the unlisted market, indicating the demand for the shares, according to market sources. Grey market premiums are subject to change. The IPO consists of a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The net proceeds will go towards general corporate purposes, investment in subsidiary IKIO Solutions, repaying borrowings, and setting up a new facility in Noida.

BYJU'S, the leading edtech company, will launch the Initial Public Offering (IPO) for its subsidiary Aakash Education Services by mid-next year. AESL is expected to earn revenue of Rs 4,000 crores with operational profits of Rs 900 crores in FY23-24. The IPO will provide significant capital infusion to enhance Aakash's infrastructure and reach, extending high-quality test-prep education to a larger number of students.

Long-term investors may consider the IPO given the consistent growth in its contract manufacturing for Signify India (erstwhile Philips India) driven by new product development, strong position in customised lighting solutions in the growing segment of branded retail stores, superior operating margin than its peers, and emerging growth opportunities from exports by supplying lighting products for recreational vehicles in the US.

Nuvama PE is currently investing from its third late-stage/pre-IPO fund under the Crossover Opportunities banner. This fund has so far raised ₹3,800 crore. The latest crossover fund has invested in companies such as Ola Electric and DailyHunt.

IKIO Lighting has set a price band of Rs 270-285 per equity share for its upcoming IPO. The Noida-based company has reserved 50% of the offering for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The IPO comprises a fresh equity issue of up to Rs 350 crore and offer for sale of up to 90 lakh shares by selling shareholders. Meanwhile, Sonalis Consumer Products is set to launch an SME IPO on June 7 with a fixed price of Rs 30 per equity share.

Maharashtra-based passive telecom infrastructure provider, Kore Digital's initial share sale opened on Friday with a price band of INR 180. This IPO is a fresh issue of up to 10 lakh equity shares of face value INR 10 each, aiming to raise around INR 18 crore. The net proceeds will be used to meet working capital requirements, investment in strategic acquisition, and other general corporate expenses. The allotment will be on June 12th and the shares will be listed on NSE Emerge on June 15th.

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.

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.

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.

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.

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, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.

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 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.

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 didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment

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, 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.

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.

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.

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.

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.

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.

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.

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 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 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 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.

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.

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