Initial Public Offer (IPO) of DCX Systems is all set to open on Monday. The company is headquartered in Bangalore and is a leading player in Defense and Aerospace supplies. It has expertise especially in manufacturing of Electronic Sub-Systems and Cable Harness. DCX Systems IPO details are below :
IPO period : 31st Oct – 2nd Nov, 2022
IPO Size : Rs. 500 Crore (Rs. 100 Crore reserved for OFS). 10% quota reserved for retail investors. 15% quota for non-institutional investors and 75% reserved for institutional investors.
Price band : Rs. 197 – Rs. 207 per equity share of face value of Rs. 2 each.
Lot Size : Minimum 1 lot of 72 shares and in multiples of lot there after. Maximum application can be for 13 lots.
Minimum Investment : Rs 14,904 for 1 lot of 72 shares.
Maximum Investment : Rs 1,93,752 for 13 lots of 936 shares.
Listing at exchanges : BSE & NSE.
Listing date : Tentative 11th Nov 2022.
Axis Capital, Edelweiss Financial Services & Saffron Capital Advisors are the book-running lead managers to this IPO.
FSN E-Commerce Ventures Ltd. which owns brand Nykaa, the very popular beauty and personal care products has revised the record date for issuance of bonus shares. The company earlier on 3rd October 2022 announced issuance of bonus shares in the ratio of 5:1 . Now the company has announced that 11th November 2022 is the new revised record date for bonus shares. The company largely engages in the manufacturing and distribution business of beauty-personal care-health care-skin care-hair care products, fashion garments & accessories, wellness/ fitness products and other equipments.
Nykaa share was listed on the exchanges on 10th November 2021 and stock hit 52 week high of 2574. However, the stock has corrected much from its listing price as well as its all time high. Now the stock has closed at 983 in the last trading session. The stock has fallen 55% in the last one year, almost 42% in the last six months.
Inflation is all across the globe and all central banks are on a run to curb the inflation. The Federal Open Market Committee (FOMC) is scheduled to meet on 2nd November and take further rate hike decisions to bring in control the way too high inflation in the USA. FOMC has been revising the policy rates time and again and it cascades to other central banks to think and revise their key rates.
This time Reserve Bank of India has scheduled its Monetary Policy Committee (MPC) meeting just after a day post FOMC meeting on 3rd November 2022. The MPC must be planning to review key changes that FOMC will announce and it’s impact on Rupee and Indian economy. MPC will also take key decisions if any to change key rate as done before.
All eyes now on FOMC and MPC for key policy rate changes
Varanashi Headquartered lender, Utkarsh Small Finance Bank received the security market regulator SEBI’s approval for coming up with their IPO. The bank wants to float its IPO for fresh issuance of its equity shares and raise Rs. 500 Crores from the market as per their DRHP disclosure. The IPO proceeds will be utilised towards strengthening the bank’s Tier-1 capital base.
The bank has started operation in the year 2017 and has over 680 banking outlets across the country. Utkarsh Small Finance Bank has strong presence across states like Uttar Pradesh, Bihar and Jharkhand both in urban as well as rural markets. While it has major presence across these 3 states, it operates across 22 States and Union Territories. Utkarsh Bank offers all types of savings / current accounts, fixed / recurring deposits, lockers facilities and loan accounts.
As on March 2022, the bank’s liability book stood at nearly Rs 10,075 Crore while the asset book was at nearly Rs 10, 631 Crore. The bank has been steadily progressing in terms of presence and book size since inception.
Kotak Mahindra Capital and ICICI Securities are the book running lead managers to this IPO.
Mumbai Headquartered IndiaFirst Life Insurance filed DRHP with SEBI to go public. The company wants to launch its IPO listing its stock at both BSE/ NSE and raise funds to the tune of Rs. 2,000-2,500 crore. IndiaFirst Life Insurance is promoted by Bank of Baroda (BOB) which holds 65% stake, Warburg Pincus affiliate Carmel Point Investments India which holds 26% stake and Union Bank of India holding 9% stake as the key major promoters. These three key major promoters Bank of Baroda (BOB), Warburg Carmel Point Investments India and Union Bank of India will off load nearly 8.9 crore, 3.9 crore and 1.3 crore shares respectively during the IPO process and the company will issue fresh equity shares worth Rs.500 crore. Ambit, BNP Paribas, BOB Capital Markets Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities, Jefferies India and JM Financial are the book running lead managers for the issue.
As reported by all major newspapers, stock market regulator SEBI barred Bombay Dyeing and it’s promoters Wadias from the securities market for 2 years. This order came in on 21rd October 2022 where in the Indian Stock Market Regulator found fraudulent affairs of misrepresentation of the company’s financial statements. The regulator has also barred the promoters from holding any director level position.