Latest news with #Non-Institutional
Economic Times
19 hours ago
- Business
- Economic Times
NSDL IPO subscribed 1.78 times on Day 1, GMP rises to 17%. Check reviews, other details
National Securities Depository Limited's IPO was fully subscribed within a few hours on Wednesday. Non-institutional and retail investors drove the demand. Brokerages like Anand Rathi and Angel One recommend subscribing for the long term. They cite NSDL's strong market position and growth potential. The IPO price is between Rs 760 to Rs 800 per share. The IPO comprises 5. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Should you subscribe to the NSDL IPO? About NSDL IPO NSDL has set the IPO price band at Rs 760 to Rs 800 per share. Tired of too many ads? Remove Ads About NSDL NSDL financial performance and valuation The initial public offering (IPO) of India's first and largest depository, National Securities Depository Ltd (NSDL) managed to sail through within hours of its issue opening for the public on Wednesday, July 30, with its grey market premium (GMP) at 16.75% or Rs 134-140, up from 15.6% earlier in the total subscription stood at 1.78 times, with enthusiasm driven by the non-institutional investors (NIIs). At the time, the Non-Institutional Investors (NIIs) had subscribed to the issue by 2.83 times, while the retail investors subscribed to the issue by 1.86 the qualified institutional buyers (QIBs) had made an 84% subscription for the NSDL shares of NSDL are trading at a healthy premium of 15.6% in the grey market, which translates into a listing gain of around Rs 125-126 for the public issue, which is a pure offer for sale (OFS) by existing shareholders amounting to Rs 4,012 crore, witnessed an overall subscription of 26% around 11:00 am today. The highest participation was driven by the Non-Institutional Investors (NIIs).The NIIs subscribed to the issue by 41%, followed by the retail investors, who had subscribed to the issue by 35%. The qualified institutional buyers (QIBs) had made a bid for 14,688 shares at the have largely recommended a 'Subscribe' rating to the NSDL IPO for long-term investors. Anand Rathi and Canara Bank Securities cite NSDL's near-monopoly scale in the depository ecosystem, healthy financials, wide product coverage, and strategic relevance to India's capital market infrastructure as key Angel One has issued a 'subscribe for long-term' rating for the offer, stating, 'At the upper price band of Rs 800, NSDL is valued at a post-issue P/E of 47× FY25 earnings, which is lower than listed peer CDSL. Given its strong market position, high entry barriers, and long-term growth tailwinds from India's digital and capital market expansion.'Additionally, Bajaj Broking also assigned a 'subscribe for long-term' rating for the NSDL IPO. In its note, it stated that NSDL is engaged as a pioneer in depository services in India and is an icebreaker for the demat process. The company is expanding its horizon with more value-added services and options.'With dominant market share, a wide service reach, and diversified asset coverage, NSDL is well-positioned for long-term growth, supported by macroeconomic tailwinds and regulatory enablers. However, investors should remain cautious of its dependence on transaction volumes, evolving investor behaviour, and high regulatory and cybersecurity risks,' flagged Saurabh Jain, Equity Head, Research- Fundamentals at SMC Global Securities The IPO comprises 5.01 crore equity shares, and the subscription window will remain open until August 1. Investors can bid for a minimum lot of 18 equity shares and in multiples thereof. The company is proposed to be listed on the BSE, with the tentative listing date set for August following the enactment of the Depositories Act, 1996, NSDL was the first depository to commence operations in India. It plays a crucial role in the country's financial market infrastructure and offers depository services across multiple asset classes, including equities, debt instruments, mutual funds, REITs, InvITs, AIFs, and boasts a pan-India reach, covering over 99% of PIN codes, and has a global footprint with clients in 186 countries. The company operates on a stable annuity-like revenue model, derived from annual issuer charges and transaction-based the financial year ended FY25, NSDL reported revenue of Rs 1,420 crore, marking a 12% year-on-year growth, while profit after tax (PAT) rose 25% YoY to Rs 343 crore. The company posted a strong EBITDA margin of 34.71%, highlighting efficient has also diversified its business through subsidiaries like NSDL Database Management Ltd (NDML) and NSDL Payments Bank Ltd (NPBL), expanding into areas such as e-governance services, regulatory technology platforms, and digital the valuation front, the IPO is priced at a price-to-earnings (P/E) ratio of 46.62x and a price-to-book (P/B) ratio of 7.98x, based on FY25 earnings. In comparison, its listed peer Central Depository Services (India) Ltd (CDSL) trades at a higher P/E of 60.43x and P/B of 18.08x. However, NSDL commands a larger share of demat assets, more extensive institutional coverage, and a broader service infrastructure.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
a day ago
- Business
- Economic Times
NSDL IPO subscribed 1.62 times on Day 1, GMP rises to 17%. Check reviews, other details
The initial public offering (IPO) of India's first and largest depository, National Securities Depository Ltd (NSDL) managed to sail through within hours of its issue opening for the public on Wednesday, July 30, with its grey market premium (GMP) at 16.75% or Rs 134-140, up from 15.6% earlier in the morning. ADVERTISEMENT Around 4:30 pm on Wednesday, the total subscription stood at 1.62 times, with enthusiasm driven by the non-institutional investors (NIIs). At the time, the Non-Institutional Investors (NIIs) had subscribed to the issue by 2.40 times, while the retail investors subscribed to the issue by 1.78 times. Meanwhile, the qualified institutional buyers (QIBs) had made an 82% subscription for the NSDL issue. The shares of NSDL are trading at a healthy premium of 15.6% in the grey market, which translates into a listing gain of around Rs 125-126 for the public issue, which is a pure offer for sale (OFS) by existing shareholders amounting to Rs 4,012 crore, witnessed an overall subscription of 26% around 11:00 am today. The highest participation was driven by the Non-Institutional Investors (NIIs).The NIIs subscribed to the issue by 41%, followed by the retail investors, who had subscribed to the issue by 35%. The qualified institutional buyers (QIBs) had made a bid for 14,688 shares at the time. ADVERTISEMENT Brokerages have largely recommended a 'Subscribe' rating to the NSDL IPO for long-term investors. Anand Rathi and Canara Bank Securities cite NSDL's near-monopoly scale in the depository ecosystem, healthy financials, wide product coverage, and strategic relevance to India's capital market infrastructure as key positives. ADVERTISEMENT Meanwhile, Angel One has issued a 'subscribe for long-term' rating for the offer, stating, 'At the upper price band of Rs 800, NSDL is valued at a post-issue P/E of 47× FY25 earnings, which is lower than listed peer CDSL. Given its strong market position, high entry barriers, and long-term growth tailwinds from India's digital and capital market expansion.'Additionally, Bajaj Broking also assigned a 'subscribe for long-term' rating for the NSDL IPO. In its note, it stated that NSDL is engaged as a pioneer in depository services in India and is an icebreaker for the demat process. The company is expanding its horizon with more value-added services and options. ADVERTISEMENT 'With dominant market share, a wide service reach, and diversified asset coverage, NSDL is well-positioned for long-term growth, supported by macroeconomic tailwinds and regulatory enablers. However, investors should remain cautious of its dependence on transaction volumes, evolving investor behaviour, and high regulatory and cybersecurity risks,' flagged Saurabh Jain, Equity Head, Research- Fundamentals at SMC Global IPO comprises 5.01 crore equity shares, and the subscription window will remain open until August 1. Investors can bid for a minimum lot of 18 equity shares and in multiples thereof. The company is proposed to be listed on the BSE, with the tentative listing date set for August 6. ADVERTISEMENT Established following the enactment of the Depositories Act, 1996, NSDL was the first depository to commence operations in India. It plays a crucial role in the country's financial market infrastructure and offers depository services across multiple asset classes, including equities, debt instruments, mutual funds, REITs, InvITs, AIFs, and boasts a pan-India reach, covering over 99% of PIN codes, and has a global footprint with clients in 186 countries. The company operates on a stable annuity-like revenue model, derived from annual issuer charges and transaction-based the financial year ended FY25, NSDL reported revenue of Rs 1,420 crore, marking a 12% year-on-year growth, while profit after tax (PAT) rose 25% YoY to Rs 343 crore. The company posted a strong EBITDA margin of 34.71%, highlighting efficient has also diversified its business through subsidiaries like NSDL Database Management Ltd (NDML) and NSDL Payments Bank Ltd (NPBL), expanding into areas such as e-governance services, regulatory technology platforms, and digital the valuation front, the IPO is priced at a price-to-earnings (P/E) ratio of 46.62x and a price-to-book (P/B) ratio of 7.98x, based on FY25 earnings. In comparison, its listed peer Central Depository Services (India) Ltd (CDSL) trades at a higher P/E of 60.43x and P/B of 18.08x. However, NSDL commands a larger share of demat assets, more extensive institutional coverage, and a broader service infrastructure. Also read: Tata Motors shares down 42% from peak: Should you buy the dip in this auto major's stock? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
2 days ago
- Business
- Mint
Indiqube Spaces shares make weak debut, list at ₹216 on NSE, down 8.86% from issue price
Indiqube Spaces IPO listing: Shares of Indiqube Spaces made a weak debut on the bourses on Wednesday, July 30, listing at ₹ 216 on NSE, a discount of 8.86 percent to its issue price of ₹ 237. Meanwhile, on BSE, it listed at ₹ 218.70, down 7.7 percent from the issue price. The ₹ 700-crore initial public offering (IPO), with a total issue size, was open for bidding from July 23 to July 25. The issue witnessed a robust response from investors, closing with a subscription of 13 times during the three-day bidding process. The IPO attracted bids for 21.16 crore shares compared to the 1.62 crore shares on offer. The retail investor category was subscribed 13.28 times, while the non-institutional investor (NII) segment witnessed 8.68 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was bid the most, 15.12 times. The issue was a combination of a fresh issue of 2.74 crore shares, aggregating to ₹ 650 crore, and an offer for sale of 0.21 crore shares, aggregating to ₹ 50 crore. The lot size for the IPO was fixed at 63 shares, making the minimum investment for retail investors ₹ 14,175. The proceeds from the fresh issue are intended to support the company's future expansion plans. This includes strengthening its operational footprint, meeting ongoing working capital needs, and fulfilling general corporate requirements. Ahead of the public offering, the company successfully raised ₹ 314.32 crore from anchor investors on July 22. The IPO followed the standard allocation pattern, with 75 percent of the issue reserved for Qualified Institutional Buyers (QIBs), 15 percent for Non-Institutional Investors (NIIs), and the remaining 10 percent allocated to Retail Individual Investors (RIIs). The issue also included a reservation of up to 69,767 shares for employees offered at a discount of ₹ 22.00 to the issue price. ICICI Securities Limited is the book-running lead manager of the Indiqube Spaces IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue. Incorporated in 2015, Indiqube Spaces Limited focuses on delivering managed, sustainable, and technology-enabled workplace solutions, with the goal of redefining conventional office environments for today's businesses. The company provides a range of workspace offerings such as corporate hubs and branch offices, designed to elevate employee experience through curated interiors, modern amenities, and tailored services. Its business model integrates asset renovation, customised workspace solutions, and a mix of B2B and B2C value-added services. It offers clients fully equipped plug-and-play offices, ensuring a seamless and comprehensive office infrastructure for both businesses and their employees.
Economic Times
5 days ago
- Business
- Economic Times
Indiqube Spaces IPO to be finalised Monday. Here's how to check status
The share allotment for Indiqube Spaces has been finalised today. Investors who subscribed to the Rs 700-crore IPO can now verify their allotment status on the registrar's website — MUFG Intime India Pvt Ltd (Link Intime). The IPO saw a strong overall subscription of 13 times, led by Qualified Institutional Buyers (QIBs) who bid 15.12 times their quota. ADVERTISEMENT The retail portion was subscribed 13.28 times, and Non-Institutional Investors (NIIs) subscribed 8.68 times. The employee category was also well-received, with a 6.95x subscription. How to check Indiqube IPO allotment status: 1. Visit the registrar's website: [ Click on the 'IPO Allotment Status' link on the homepage.3. Select 'Indiqube Spaces IPO' from the dropdown.4. Enter either your PAN number, Application Number, or DP/Client ID. ADVERTISEMENT You can also check allotment via the BSE website:1. Go to [ Select 'Equity' and choose 'Indiqube Spaces' from the dropdown. ADVERTISEMENT 3. Enter your application number and applicants will see shares credited to their demat accounts on July 29, while refunds for unsuccessful bids will also be initiated on the same day. The stock is scheduled to list on BSE and NSE on July 30. ADVERTISEMENT Ahead of the IPO, the company raised Rs 314 crore from anchor investors. Indiqube, which offers managed workspaces and co-working solutions, operates 115 centres across 15 cities, covering over 8.4 million sq ft of space. While it continues to post net losses due to expansion and Ind-AS accounting adjustments, its revenues rose 27% in FY25. With a grey market premium (GMP) hovering around Rs 5, a steep fall from the IPO opening day, the stock may list at a gain of 2% over the issue price. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Standard
6 days ago
- Business
- Business Standard
Shree Refrigerations Brings Defense-Grade HVAC Legacy to Markets with Upcoming IPO
VMPL New Delhi [India], July 25: Shree Refrigerations Limited, India's leading defense-focussed manufacturer of advanced refrigeration and HVAC systems, has announced its upcoming Initial Public Offering (IPO), with the issue set to open on 25th July 2025 and close on 29th July 2025. The Anchor Book will open on 24th July 2025. The equity shares are proposed to be listed on BSE SME. Incorporated in 2006, Shree Refrigerations Limited has established itself as a strategic partner to the Indian defense sector. The company specializes in designing and delivering mission-critical HVAC and refrigeration systems engineered for naval platforms including submarines, built to withstand extreme maritime conditions. Its robust portfolio also includes Radar Cooling Systems, Data Center Cooling Units, Heat Exchangers, custom-built Electrical Control Panels, and Heavy Fabrication Services catering to large-scale defense manufacturing needs. The IPO comprises a Fresh Issue of 75,61,000 equity shares and an Offer for Sale (OFS) of 18,25,000 equity shares, aggregating to a total of ₹ 1,17,32,50,000. The price band per equity share is fixed at ₹119 - ₹125 and the minimum application lot size is 1,000 equity shares. The allocation under the IPO is made in accordance with SEBI regulations, with 44,55,000 (47.46%) shares reserved for Qualified Institutional Buyers (QIBs), 13,39,000 (14.27%) for Non-Institutional Investors (NIIs), and 31,22,000 (33.26%) for Retail Individual Investors (RIIs). The net proceeds from the Fresh Issue will be used to fund the working capital requirements of the company and for general corporate purposes. These funds are expected to support the company's ongoing expansion and enhance its ability to serve critical defense infrastructure projects with greater efficiency and scale. Mr. Ravalnath Gopinath Shende, Promoter and Chairman of Shree Refrigerations Limited, stated, "This IPO marks a significant milestone in our journey of engineering excellence. Over the years, we have built a reputation for delivering reliable, high-performance refrigeration and HVAC systems for mission-critical applications. As we enter this new phase, we aim to scale our operations and deepen our commitment to India's defense ecosystem by providing robust, indigenous solutions that uphold the highest standards of efficiency, durability, and national service." Led by a seasoned leadership team, including Co-founder Mrs. Rajashri Shende, Business Strategist Mrs. Devashree Nampurkar, Defense Veteran and Former Indian Navy officer Mr. Sunil Kaushik, and Capital Allocation Expert Mr. Vivek Karnavat, the company is governed by a Board of Directors comprising distinguished professionals with deep expertise across engineering, finance, and national security.
