Stock markets in India are presently trading near the dotted line with positive bias. Sectoral indices are trading on a mixed note with stocks in the healthcare sector and realty sector witnessing maximum buying interest. Oil & gas stocks are trading in the red.
The BSE Sensex is trading up 28 points (up 0.1%) and the NSE Nifty is trading up 17 points (up 0.1%). The BSE Mid Cap index is trading up by 0.8%, while the BSE Small Cap index is trading up by 0.7%. The rupee is trading at 64.03 to the US$.
In the news from IPO space, Dixon Technologies (India) Ltd. got subscribed 78% on the first day of the IPO bidding. The issue received bids for 18,58,776 shares against the total issue size of 23,76,557 shares.
On the other hand, the IPO of Bharat Road Network Ltd. was subscribed 22% on the first day of the bidding process. The issue received bids for 64,09,765 shares against 2,93,00,000 shares on offer.
Tomorrow is the last date of offer for both the above IPOs.
Do these companies have sound business models? Are they leaving enough money on the table for investors?
Apart from the above, there are more IPOs in the offing. Our research team is geared up to evaluate the upcoming IPOs of Matrimony.com and Capacit’e Infraprojects next week. Thereafter, there are also the IPOs of Prataap Snacks and SBI Life Insurance (dates not announced yet). Watch out this space for updates on the same.
One shall note that 2017 is set to be the biggest IPO year ever – even bigger than 2010, when 64 companies raised a collective Rs 375 billion through their IPOs.
In the news from buyback space, Infosys promoters, including co-founders N.R. Narayana Murthy and Nandan Nilekani, have offered to sell as many as 1.77 crore shares in the company’s Rs 130 billion share buyback offer.
At a buyback price of Rs 1,150 per share, this could mean worth Rs 20 billion shares from the promoter group, if all the shares tendered by them are accepted in the buyback offer.
