Top upcoming IPOs of 2018: NSE, IRTC, ICICI Securities and more

More than 150 initial public offers (IPO) hit the Indian stock market in 2017, raising USD 11.6 billion, however, for the New Year-2018 a few top upcoming IPOs, among others,  st to hit the market which include:

NSE: National Stock Exchange, the country's biggest exchange filed DRHP with Sebi in Dec 2016 and is set to enter the market this year. However, the approval for the Rs. 10,000 crore offer has been pending with SEBI, on account of co-location through which the exchange is alleged to offer preferential entrée to some broker.

IRCTC:  Indian Railway Catering & Tourism Corporation (IRCTC) will go public this year after resolving its issues relating to service charges.

ICICI Securities: ICICI Securities intends  Rs. 3000 - 4000 crore IPO issue which comprises sale of 20 per cent  stake by ICICI Bank which equals to 64,428,280 equity shares with a reservation of 32.21 lakh equity shares for individual & HUF shareholders of the bank.

Hindustan Aeronautics: Hindustan Aeronautics Limited (HAL) got SEBI nod for IPO in October 2017. Through the stake sale, the company aims to sell 36.2 million shares and garner a total of Rs. 2000 to Rs. 2500 crore.

HDFC AMC:  HDFC Asset Management Company has received the approval for stake sale via IPO offering. The company has listed its insurance arm in 2017.

Astron Paper makes stellar debut on NSE; Stock rise

Astron Paper & Board Mill Limited made a strong debut and was locked in upper circuit at Rs.120.75, up 141 percent against its issue price of Rs 50 per share on the NSE, while on the BSE, it froze at Rs. 120.  The company listed at Rs. 115 on the NSE and at Rs. 114 on the BSE. A combined 6.11 million shares changed hands and there were pending buy-orders for 3,15,927 shares on the NSE and BSE.

Last week, the company’s IPO to raise up to Rs 70.00 cr, got subscribed by over 243 times as at the end of last day of bidding, backed by stellar demand across categories. The issue received bids figuring to 340.6 cr, shares as against the size of 1.4 cr, shares implying subscription of 243.29 times.

The retail investors bid for a total of 36.27 cr, shares. Non Institutional category witnessed the highest demand, as investors bid for a total of 290.3 cr, shares as against 73.15 lakh shares reserved for them implying a subscription of nearly 400 times.

L&T bags orders worth Rs.3355 CR.

Larsen & Toubro Limited (L&T) on Tuesday announced that its buildings and factories buz of L&T construction has obtained orders valued Rs 3,355 crore.

The orders comprise design & construction of India Int. Convention & Expo Centre (IICC) in the national capital.

The business also bagged a contract to construct a major retail development in Navi Mumbai for IKEA. The construction for the proposed expansion will commence in early 2018, the company said.

Shares of the L&T were trading at Rs 1,265.45 apiece, down 0.09%, from the previous close on BSE.

HDFC Bank approves Rs.24,000 Cr from share sale

The top Indian banking and financial services company HDFC Bank today approved a mega-fundraising plan of Rs 24,000 crore to fund its expansion, by selling shares to domestic & international investors including a preferential issue to its parent company HDFC Ltd.

The fundraising plan of HDFC Bank was declared subsequent on its parent company Housing Dev Finance Corpn said that it has approved to raise Rs 13,000 cr, for its fundraising plans.

HDFC Bank said that out of the total sum of Rs 24,000 crore, an amount of Rs 8,500 shall be through the issuance of equity shares, of face value of Rs.2/equity share. The balance amount left after HDFC’s infusion will be raised through the issuance of equity share/ convertible securities/ qualified institutional placement/ American Depository Receipt/ Global Depository Receipt and so on. Following the announcement, shares of HDFC Bank hit an all-time high of Rs 1,905, rising 1.05%.

Top companies that contribute market-cap gain in 2017

Reliance Industries, HDFC Bank Ltd, Maruti Suzuki (India)Ltd, Hindustan Unilever Ltd and Bharti Airtel Ltd are recognized as the top five companies that have contributed more than half of the gain in market capitalization (M-cap) recorded by S&P BSE Sensex companies so far in the calendar year 2017. The S&P BSE Sensex ended at 33,463 on Friday, and has rallied 26 percent or 6,836 points so far in 2017. By comparison, these five stocks surged between 56% and 72% during the period.  Total M-cap of Sensex companies increased by Rs 11.49 lakh crore to Rs 58.16 lakh crore. Of these gain, the aforesaid five companies accounted for 63%, or Rs 7.18 lakh crore gain during the period.

ICICI Securities Ltd files DRHP for IPO

Capital market company, ICICI Securities Limited, a subsidiary of private sector lender ICICI Bank, has filed a DRHP with the market regulator Sebi for an Initial Public Offering (IPO) to raise an estimated Rs 3,000 – 4,000 cr.

The issue constitutes a public offer of up to 6.44 cr  equity shares with a face value of Rs. 5.00 each, representing about 20% of the company’s equity capital. The offer includes reservation of upto 32.21 lakh shares for individual investors and Hindu Undivided Family (HUF) and shareholders of ICICI Bank.

The ICICI Bank Board, on Nov 7 had approved the sale of a part of its shareholding in ICICI Securities.  The bankers to manage the issues include Citigroup Global Markets, CLSA, BoAML, Edelweiss Financial Services and IIFL Holdings. 

Wipro to open Rs 11,000 cr share buyback on Nov 29

IT major Wipro Limited has announced that it will launch its Rs 11,000-crore share buyback offer on November 29. Wipro will repurchase up to 343.75 mln fully paid-up equity shares, representing 7.06 percent equity capital of the company, for Rs 320 a unit.

The buyback offer is open to all fully paid-up equity shareholders with a face value of just Rs. 2 each, on a proportionate basis.

Share buybacks help improve earnings per share (EPS) and return surplus cash to shareholders, while also supporting share price during periods of sluggish market conditions

Khadim India Ltd lists on bourses tomorrow

Footwear retailer Khadim India will list on Exchange on Tuesday, 13 November 2017, following the conclusion of its Rs. 543 cr OPO offer last week.

Khadim India’s IPO was subscribed 1.90 times during 2 Nov to 6th. The price band for the IPO was fixed at Rs. 745-750 per share. The offer comprised fresh issue of equity shares aggregating up to Rs. 50 crore, besides an OFS of up to 65,74,093 shares by existing shareholders.

The net proceeds from the issue are to be used towards payment of loans and general corporate needs. Axis Capital & IDFC Bank were the lead managers to the issue.

Bank stocks rise, Nifty-50 index hit fresh intraday high

The NSE Nifty50 index hit fresh intraday high, by 100.05 points up at 10,435.35 while the BSE Sensex hovered near the day's high, up by 369.98 points at 33,583.11 in mid-morning trade at 11.20 pm on Wednesday, 1^st November. Positive leads from Asian markets together with overnight gains in the U.S market increased investors' sentiment.

Bank stocks rose. The Nifty Bank index hit a record peak of 25, 490.65 points. Among bank stocks in the Nifty50, ICICI Bank were up 4.6%, and SBI traded up 3.3%, while shares of Axis Bank rose 2.8% to Rs. 537.95.

Airtel shares hit a Ten-year high after the company posted stellar numbers for the Q2 30 September. On BSE, The stock of Airtel was the major gainer on both Sensex and Nifty advancing 8.66% to hit the record high of Rs 540.75 on BSE. 

Rupee Watch: The Indian rupee hit nearly 6-week high against the dollar. It opened at 64.67 a dollar and touched a high of 64.64 and was trading at 64.65 versus the USD, up 0.15% from its last day’s close of 64.75.

Top stocks in spotlight on 18 Oct 2017

Stock Market opened lower on Wednesday against the previous session’s closing. The Sensex and Nifty fell in the morning hours. The Indian rupee strengthened a little bit against the USD. The shares of Wipro Ltd, Kotak Bank and Reliance rose, while the shares of Axis Bank and ICICI Bank fell.

The following stock, among others, will be in spotlight today 18 Oct 2017:- UltraTech Cement, Hindustan Zinc Ltd , Havells India Ltd, Indiabulls Housing Finance Ltd, NIIT Technologies, NOCIL are some of the major companies that are announcing their Q2 results today. 

Wipro Ltd has reported a 5.5% jump in sequential and 6% rise in year-on-year rise in net profit at Rs 2189.50 crore for the Sept quarter. Wipro has given guidance of USD 2014 million to USD 2054 million for December quarter revenue from its IT services business.

ONGC Stocks: State-run Oil & Natural Gas Corpn will invite bids from oilfield service providers to boost up output from some of its ageing fields under a long-term contract.

The two-wheeler maker Bajaj Auto Ltd has posted a 1% decline in net profit to Rs 1123 crore for the Sept quarter, largely on account of flat two-wheeler sales and rising input costs. 

Reliance Industries Ltd has submitted a USD 1.4-billion plan to generate 7 million cubic metres a day of natural gas from KG-D6 deep-sea fields in the Bay of Bengal.