Travel Food Services, a major operator of quick-service restaurants and lounges in airports across India and Malaysia, has filed draft papers with SEBI for a ₹2,000-crore initial public offering (IPO). Offer Details: Entirely an offer-for-sale (OFS) by the Kapur Family Trust, with no proceeds going to the company. Presence: Operates 397 outlets and 31 lounges across 14 airports in...
Investcraft Market Updates
The capital markets regulator SEBI has approved the IPO of DAM Capital Advisors, a boutique investment bank led by seasoned banker Dharmesh Mehta. The IPO will be entirely an offer-for-sale (OFS), with proceeds going to the selling shareholders. Nuvama Wealth Management is the sole merchant banker for the issue, and Link Intime India is the registrar. DAM Capital has shown strong growth, achieving a...
The Union government has decided to include solar cells in the Approved List of Models and Manufacturers (ALMM) starting June 1, 2026, to strengthen domestic manufacturing. This move expands the ALMM's scope, which previously included only solar modules, allowing manufacturers to import cells for module production in India. Currently, the ALMM requires solar projects funded by central and state agencies...
Union Textile Minister Giriraj Singh announced that India’s textile market is set to expand from $176 billion to $300 billion, reflecting a strong growth trajectory under PM Modi’s leadership. Speaking at the National Institute of Fashion Technology (NIFT) convocation in Hyderabad, Singh highlighted the sector's potential to drive employment, noting that each NIFT graduate could generate jobs for up to...
Indian markets experienced a slight recovery in foreign fund inflows during the week ending December 6, following consistent outflows over the past two months. This marks a reversal after over five weeks of net redemptions, influenced by China's economic stimulus and anticipation of the US election. A report by Elara Capital reveals that India-dedicated funds recorded $156 million in inflows, driven...
The subscription period for Emerald Tyre Manufacturers' IPO will close on December 9. The IPO includes a fresh issue of 49.86 lakh shares valued at ₹47.37 crore and an offer-for-sale (OFS) of 1.99 lakh shares worth ₹1.89 crore. The allotment of IPO shares is expected to be finalized on December 10. Shares will be credited to the demat accounts of successful applicants, and refunds for unsuccessful...
The IPO of Nisus Finance Services closes for subscription today, December 6, 2024, with its shares commanding a premium in the grey market. On Friday, the shares were trading at ₹245 each, reflecting a ₹65 or 36.11% premium over the IPO's upper price band of ₹180. The ₹114.24 crore IPO is priced between ₹170–₹180 per share with a lot size of 800 shares. The issue has seen strong demand,...
Rate-sensitive sectors like banking, auto, and real estate displayed mixed reactions on December 6 after the Reserve Bank of India (RBI) cut the cash reserve ratio (CRR) by 50 basis points to 4.5%, easing growth concerns. The RBI, however, kept the repo rate unchanged at 6.5%, in line with expectations, maintaining a "neutral" policy stance. The Nifty Bank and Auto indices gained 0.3% each following the...
Vishal Mega Mart’s ₹8,000-crore initial public offering (IPO) will open for public subscription on December 11 and close on December 13, with anchor bidding starting on December 10, according to the company’s Red Herring Prospectus (RHP). The entire IPO is an Offer for Sale (OFS) by promoter Samayat Services LLP, which holds a 96.55% stake. No fresh equity shares will be issued. The...
Abha Power and Steel, an iron and steel products manufacturer, had its shares listed on the NSE SME at ₹81.90, a 9.2% premium over the IPO price of ₹75. Despite the positive start, the stock quickly dropped 5% to ₹77.80, hitting the lower circuit within 20 minutes of trading. Around 0.20 million shares worth ₹16.09 crore were traded before trading was halted. The listing performance fell short...