Hello India, what’s happening around us?
The IPO scene is buzzing with activity, and there’s a lot to watch right now! From Swiggy’s major plans to go public, to India’s ambitious green energy goals, and some dramatic family business disputes, there’s plenty of excitement. We also have intriguing updates on recent IPOs like Bajaj Housing Finance, PNG Jewellers, Kross, and Tolins Tyres.
So, let’s dive into the latest news, subscription numbers, and what to expect from these hot new stock offerings. Buckle up!
Table of Contents
Swiggy to Raise ₹5,000 Cr in Fresh Issue, IPO Filing Looms with SoftBank’s Support
Swiggy, the popular Indian food delivery app, might be filing for its IPO this week, hoping to raise over $1 billion. The company is just waiting on a green light from the Securities and Exchange Board of India (Sebi) before making its move. Founded in 2014, Swiggy works with over 150,000 restaurants and competes with Zomato and BigBasket.
With a whopping $7.8 billion already raised in IPOs this year, the Indian market is buzzing, and more big listings are on the way!
India’s Green Leap: On Track for Net-Zero by 2070 and Leading in Renewables!
India is charging ahead on its green energy journey, aiming for net-zero carbon emissions by 2070 and hitting 500 GW of non-fossil fuel power by 2030. Union Minister Pralhad Joshi says India’s path to sustainability is setting the stage for other nations. With solar power at 85.47 GW and wind power at 46.65 GW, the country is not just talking the talk but walking the walk!
PM Modi proudly announced that India met its Paris Climate Summit goals ahead of schedule. Plus, with full foreign investment approval, India is rolling out the welcome mat for global green energy investments.
Exciting times are ahead as India leads the charge for a cleaner, greener future!
High-Stakes Drama: Court Stops EIH Limited Shares Transfer in Oberoi Family Battle
In a high-stakes family drama, the Delhi High Court has stepped in with an injunction blocking EIH Limited and its affiliates from transferring shares.
This move comes as Anastasia Oberoi, daughter of the late PRS Oberoi, battles her brother Vikramjit and cousin Arjun over the estate. Anastasia alleges that Vikramjit and Arjun are obstructing her father’s will. The court’s order aims to protect the will’s provisions and keep Anastasia’s family home secure. With the will’s validity under fire, this legal showdown is heating up, promising more twists in this intense family saga.
China’s Financial Clampdown: 8,700 Bankers Restricted and Pay Slashed
China’s latest move is shaking up the financial world in a big way. The government has just impounded the passports of 8,700 investment bankers, meaning they’ll need special permission to travel abroad. On top of that, they’re facing big pay cuts and tighter regulations. Even more dramatic, those who tried to escape to Hong Kong have been tracked down and brought back!
This crackdown is raising eyebrows, with some worried it could dismantle China’s successful economic model. One commentator even suggests this kind of “license-permit raj” might turn fast-growing firms like BYD into the next Hindustan Motors within a decade. It’s a bold move with potentially huge implications—definitely one to watch!
Adani Deal Under Fire: Congress Claims Last-Minute Favor as Government Faces Defeat
In a surprising turn of events, Congress is accusing the outgoing Mahayuti government of pulling a fast one with a major power deal favoring the Adani Group. The contract, which involves supplying 6,600 MW of both renewable and thermal power to Maharashtra, is now under intense scrutiny for alleged manipulation.
Congress’s Jairam Ramesh has taken to social media to slam the deal, suggesting it’s a last-minute gift to Adani as the government faces a likely defeat in the upcoming state assembly elections. With corruption and cronyism accusations heating up, this controversy is definitely one to watch.
Melinda Gates’ Rallying Cry: Make Economic Systems Work for Everyone
In a fresh interview with Vanity Fair, Melinda Gates stirred the pot with a bold call for change in economic policies. She pointed out that our current systems often leave women and marginalized communities on the sidelines.
Gates is championing a shift towards more inclusive practices that ensure everyone gets a fair shot. She argues that businesses and governments should weave social impact into their core strategies, not just as a bonus, but as a necessity. Her passionate plea highlights a growing push for economic systems that truly work for all, making this a conversation you won’t want to miss.
PNG Jewellers IPO Allotment Status
The IPO of P N Gadgil saw a whopping subscription of ₹1,100 crore, with an oversubscription rate of 59.41x. Crazy, right? And who’s the biggest player behind these impressive numbers? None other than the Qualified Institutional Buyers (QIB) with a staggering oversubscription of 136.85x! They were followed by Non-Institutional Investors (NII) at 56.09x, and retail investors at 16.58x.
The GMP for PNG’s IPO closed at ₹333, and by the allotment date, it had climbed to ₹345. As of today (September 15th), the GMP stands at ₹300. So, what can we expect on listing day tomorrow? Well, you’ll have to wait and see!
Kross IPO Allotment Status
Kross pulled in a solid ₹500 crore, with an oversubscription of 16.81 times. Non-Institutional Investors (NII) really stepped up, oversubscribing by 23.32 times, and retail investors weren’t far behind at 10.76x.
But here’s the twist—the GMP for Kross has taken a nosedive, dropping by nearly 50%. Just a few days ago, on September 11th, it was sitting comfortably at ₹50. By the very next day, allotment day, it slipped to ₹37.50. And today? It’s down to ₹24.50. That’s a pretty big drop in such a short time.
Now, the big question: what’s going to happen on listing day? Sure, investors might still make a profit, but what do you do? Should you jump in for a quick trade, or hold tight for the long game? That’s a conversation for another day!
Bajaj Housing Finance IPO Allotment Status
The Bajaj Housing Finance IPO is creating a buzz! With a massive ₹6,560 crore offering, it has been oversubscribed by 67.43 times overall.
Here’s the scoop: Qualified Institutional Buyers (QIBs) drove the oversubscription to 222.05 times. Non-Institutional Investors (NIIs) followed with a 43.98 times oversubscription. Large NII bids (over ₹10 lakhs) surged to 50.53x, while smaller bids (under ₹10 lakhs) reached 30.88x. Retail investors joined in with a 7.41x subscription, and the employee quota also saw an oversubscription of 2.13x.
The Grey Market Premium (GMP) for the IPO has been rising steadily. It started at ₹38 on September 12 and climbed to around ₹44 by September 15. With the IPO listing on September 16, excitement is high to see what happens next.
Will the stock soar or stabilize? The strong oversubscription indicates a lot of interest, so stay tuned for an exciting day!
Tolins Tyres IPO Allotment Status
Tolins Tyres’ IPO is making waves with an impressive oversubscription rate of 23.89x! Pretty decent! The real stars here are the Non-Institutional Investors (NIIs), who went all-in with an amazing oversubscription of 27.41x. The Qualified Institutional Buyers (QIBs) were close behind at 25.42x, while retail investors also showed strong interest at 21.52x.
The Grey Market Premium (GMP) for Tolins Tyres started at ₹30 and has since climbed to ₹35. As of today (September 15th), it’s still holding firm at ₹35. With such buzz, Monday’s listing is bound to be thrilling. Will the stock soar or stabilize? We’ll find out soon—stay tuned for the excitement!
Conclusion
As we dive into the whirlwind of IPOs and market shifts, it’s clear that the excitement is only heating up. From Swiggy’s buzz-worthy IPO to India’s ambitious green energy goals, and the latest high-stakes family feuds and financial crackdowns—there’s so much happening!
Investors are on the edge of their seats with the upcoming listing of IPOs like Bajaj Housing Finance, PNG Jewellers, Kross, and Tolins Tyres making waves. The big question is how these stocks will perform once they hit the market and what new trends will emerge from these high-profile entries.
So, keep your eyes peeled and your excitement levels high—this is one of those times in the financial world where you definitely won’t want to miss a beat!
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Kalaivani Kandhakumar wrote this article.