News Highlights: PM Modi highlights India's resilience amid global uncertainty and ongoing wars

European Union countries failed to vote clearly in favour or against tariffs of up to 45% on Chinese electric vehicles, leaving the European Commission to decide what to do, EU sources said on Friday. The EU executive could adopt the tariffs or could submit a new proposal if it wished to secure broader support among EU members. (Reuters)

As per the data by investorgain.com, NeoPolitan Pizza and Foods SME IPO has been subscribed 15.54 times.

Turnaround Corporate Advisors Pvt. Ltd. is serving as the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar. MNM Stock Broking is the designated market maker for the NeoPolitan Pizza and Foods IPO.

As of Thursday, the third day of bidding, the initial public offering (IPO) of NeoPolitan Pizza and Foods Ltd. has been subscribed 8.61 times. The IPO was subscribed 2.78 times on Tuesday and 0.83 times on Monday.

As of October 4, 2024, at 11:26 AM on investorgain.com, the latest grey market premium (GMP) for the Subham Papers SME IPO is Rs 24. Based on the upper price band of Rs 152, the estimated listing price is Rs 176 (cap price + today's GMP), indicating a potential gain of 15.79% per share.

The company has appointed Bigshare Services Pvt. Ltd. as the registrar for the IPO, while Gretex Corporate Services Ltd. will serve as the book-running lead manager for the issue. Additionally, Gretex Share Broking Ltd. is designated as the market maker for the offering.

On the second day of subscription on Tuesday, the Subham Papers IPO was subscribed 3.29 times. On its first day of subscription, September 30, it was subscribed 0.44 times. The public offer consists entirely of a fresh issue of 61.65 lakh shares, with no portion allocated for sale. The IPO price band is set between Rs 144 and Rs 152 per share, and retail investors can participate with a minimum lot size of 80 shares.

It's a busy IPO season and here we are tracking latest buzz. After the listing frenzy in the morning, we have now shifted our focus to the allotment news of upcoming IPOs. Today, we are tracking two allotment statuses. First, we gave you updates of the Paramount Dye Tec IPO. Now, we will talk about the public offer of Subham Papers.

Temasek Holdings Pte. is in talks to buy a minority stake in Haldiram Snacks Pvt Ltd., people familiar with the matter said, a transaction that may value India’s biggest snack maker at about $11 billion. The Singapore state investor is holding preliminary talks to buy from 10% to 15% in Haldiram, the people said, asking not to be identified because the matter is private. The investment may serve as a stepping stone towards a potential initial public offering of the company, the people said. (Read More)

Founded in January 2014, Paramount Dye Tec Limited specializes in producing yarns through the recycling of synthetic waste fibers. The company caters to the B2B segment of the textile industry, providing high-quality yarns such as acrylic, polyester, nylon, wool, and various blends. Operating two manufacturing units in Punjab, Paramount Dye Tec is both ISO 9001:2015 and GMP certified, which guarantees the highest standards of quality. The company's competitive advantage lies in its commitment to sustainable practices and innovative manufacturing processes, positioning it as a key player in the textile market.

• Visit the official website of Bigshare Services: Bigshare IPO Allotment.
• Select any one server to check your IPO allotment status.
• Choose "Paramount Dye Tec Limited" from the list of companies.
• In the Selection Type dropdown, select one of the following options:
• Application Number
• Beneficiary ID
• PAN IDEnter the required details based on your selection.
• Click on Submit to view your allotment status.

The allotment of shares for the Paramount Dye Tec IPO is scheduled to be finalized on October 4. The shares are expected to be listed on the NSE SME platform on October 8. Investors can check the IPO allotment status on the official website of Bigshare Services Pvt. Ltd., the registrar for the IPO.

The SME IPO comprised a complete fresh issue of 24.3 lakh shares. The price band for the Paramount Dye Tec IPO was set between Rs 111 and Rs 117 per share. Retail investors could participate with a minimum lot size of 1,200 shares, amounting to a minimum investment of Rs 1,40,400.

Shein is preparing to hold informal investor meetings in the coming weeks for its anticipated London initial public offering (IPO), according to three sources familiar with the matter. The China-founded online retailer is moving forward with these plans while awaiting regulatory approval in the UK. One of the sources mentioned that Shein intends to conduct informal roadshows primarily across Europe, where the company will engage with major investors, address their questions, and gauge their interest in the upcoming IPO. The sources requested anonymity as they were not authorized to speak to the media. (Read More)

India’s biggest private lender HDFC Bank on Friday said that the sequential rise in deposits outpaced loan growth in the fiscal second quarter. The Mumbai-based bank’s gross advances, or loans sanctioned and disbursed, rose 1.3% to 25.19 trillion rupees ($300 billion) in the quarter ending September following a 0.8% decline in the previous quarter. Retail loans grew by around 338 billion rupees while commercial and rural banking loans grew by around 380 billion rupees from a quarter earlier, HDFC Bank said in a statement. (Reuters)

Services activity dips to ten-month low of 57.7 in September. The HSBC India Services Business Activity Index dipped below 60 for the first time in nine months but stayed above the long-run average. A reading above 50 denotes expansion. (Read More)

• India must develop domestic capacity
• Development challenge is to manage India's energy transition
• Advent of new technology may imapct labour at all levels
• Forces that will shape the Indian era is large labour base that provides base for large factor of productivity
• There will be organic growth in consumption
• Rising middle class will pave way of vibrant marketplace
• India has been performing above average in Innovation potential
• Financial system is well capitalised
• Indian financial system is nimble to widen scale
• India finds itself among middle of global geopolitical repositioning
• Key areas of government focus for Viksit bharat include restrained revenue expenditure
• Port turnaround time has dropped by 50%.
• 0.9 days is the port turnaround time, lower than US
• Poor, women, youth, farmer will be the stakeholders in Amritkaal

The Indian rupee is likely to remain anchored near a lifetime low on Friday, hit by concerns over the deluge of foreign money being pulled out of domestic equities and a jump in oil prices due to the Middle East conflict. The 1-month non-deliverable forward indicated that the rupee will open at 83.97-83.98 to the US dollar, compared with 83.9675 in the previous session and within a whisker of the 83.9850 lifetime low hit a month ago. (Reuters)

• Union Finance Minister Nirmala Sitharaman is addressing Kautilya Economic Conclave 2024. In her address, she said that "fiscal deficit to reduce to 4.9% in FY25 to keep bond yields in check."
• "Sustained growth will come from reforms in infrastructure, ease of doing business," Sitharaman said.
• "Focus on rise in profitability, NPA ratio are at multi year low in banks," Sitharaman said.

Shares of Sahasra Electronics Solutions' initial public offer, one of the biggest SME issues, were off to a robust start after listing at Rs 537.70, commanding a massive premium of 90 percent over the issue price of Rs 283 per share on the NSE SME. (Read More)

Diffusion Engineers shares made their debut on the BSE at Rs 188, reflecting a 12% premium over the issue price. (Read More)

Diffusion Engineers shares are trading at Rs 188 per share in the pre-open session on the BSE.

As of October 4, 2024, at 09:25 AM, the latest grey market premium (GMP) for Diffusion Engineers IPO stands at Rs 58. Based on the upper price band of Rs 168, the estimated listing price is Rs 226 (cap price + current GMP), indicating a potential gain of 34.52% per share.

In the pre-open session on the BSE, Diffusion Engineers shares were trading at Rs 195 per share. This initial trading price offers a glimpse into investor sentiment and market demand for the stock ahead of its formal listing on the exchange.

Diffusion Engineers shares settled at Rs 205 per share during the pre-open session on the BSE. This initial price level provides an early indication of market sentiment ahead of the official trading debut and reflects investor interest in the stock.

“Trading Members of the Exchange are hereby informed that effective from Friday, October 4, 2024, the equity shares of Diffusion Engineers Limited shall be listed and admitted to dealings on the Exchange in the list of ‘T’ Group of Securities,” said a BSE notice.

According to data from investorgain.com, the latest grey market premium (GMP) for Diffusion Engineers IPO is Rs 58. Based on the upper price band of Rs 168, the estimated listing price is Rs 226 (cap price + today’s GMP), reflecting an expected gain of 34.52% per share.

Diffusion Engineers is ranked among the top three industry players based on CAGR for operating income, profitability, and EBITDA between FY21 and FY24. The company posted strong revenue growth with a CAGR of 16.6% from FY22 to FY24. Additionally, its profit after tax (PAT) surged from Rs 170.5 million in FY22 to Rs 308.0 million in FY24.

Unistone Capital Pvt Ltd served as the book-running lead manager for the Diffusion Engineers IPO, while Bigshare Services Pvt Ltd acted as the registrar for the issue.

The Diffusion Engineers IPO saw a total subscription of 114.49 times, according to NSE data. It was subscribed 85.61 times in the retail category, 95.74 times in the Qualified Institutional Buyers (QIB) category, and 207.60 times in the Non-Institutional Investors (NII) category.

The Diffusion Engineers IPO had a price band of Rs 159 to Rs 168 per share. At the upper end, the company raised Rs 158 crore through the book-built issue, which consisted entirely of a fresh issue of 94.05 lakh shares.

The Diffusion Engineers IPO opened for subscription on September 26 and closed on September 30. The allotment was finalized on October 1, and the shares are set to be listed today, October 4, on both the BSE and NSE.

Good morning and welcome to all the readers who are joining us right now. As part of our live coverage of business news, we are focusing on the listing of the Diffusion Engineers IPO, which is happening shortly.

Muthoot Fin shareholders approve re-appointment of George Alexander Muthoot as Managing Director of the company for a period of 5 years with effect from April 01, 2025

Cyient DLM board approves acquisition of 100% stake in Altek Electronics for $ 23.4 million

In the September update from Angel One, the number of orders decreased by 2.8% month-on-month but saw a notable increase of 36.3% year-on-year, totaling 156.68 million. Additionally, the client base grew by 3.2% month-on-month and surged by 61% year-on-year, reaching 27.49 million clients.

According to the Commerce Department, "Priority areas of focus include identifying equipment, services, policies, and best practices to promote the mutually beneficial commercial development of U.S. and Indian critical minerals exploration, extraction, processing, refining, recycling, and recovery."

Following the signing, Goyal addressed attendees at the Center for Strategic and International Studies in Washington, characterising the MOU as a multi-dimensional partnership that aims to facilitate open supply chains for materials, foster technology development, and encourage investment flows to advance green energy initiatives.

Indian Trade Minister Piyush Goyal and U.S. Commerce Secretary Gina Raimondo signed a significant agreement on Thursday aimed at enhancing cooperation between the two countries to strengthen supply chains for critical minerals like lithium and cobalt, essential for electric vehicles and clean energy applications.

The Commerce Department announced that the memorandum of understanding (MOU), formalized during Goyal’s visit to Washington, is designed to bolster resilience in the critical minerals sector for both nations

Diffusion Engineers' Rs 158-crore IPO, which ran from September 26-30, was subscribed an impressive 114.5 times. Non-institutional investors led the charge, subscribing 207.60 times their quota, while qualified institutional buyers and retail investors showed strong interest as well, with bids at 95.74 times and 85.61 times, respectively.

As a book-built issue consisting entirely of fresh equity, all IPO proceeds will go directly to the company.

Shares of Diffusion Engineers are set to debut with a strong double-digit premium on October 4, despite a sharp decline in benchmark indices. This optimism follows robust IPO subscription numbers and the company's solid financial performance.

On October 3, the Nifty 50 and BSE Sensex fell over 2%, driven by valuation concerns, Middle East tensions, and fears of capital flowing from India to China. Both indices have now corrected nearly 4% from their all-time highs.

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