Standard Glass Lining IPO GMP: Issue subscribed by over 23x so far on Day 2, check GMP

According to market observers tracking the grey market premium activities, the shares of the company are commanding a GMP of around 66 percent in the unofficial market. Investorgain quoted a GMP of Rs 93 for the share of the company, signalling a listing gain of 66.43 percent. Read more

Retail Individual Investors (RIIs) part fetched 24.36 times subscription while the quota for non-institutional investors garnered 47.86 times subscription. Qualified Institutional Buyers(QIBs) bid for 3.42 times.

Earlier, the company mobilised Rs 123 crore from anchor investors. The issue, with a price band of Rs 133-140 per share, will conclude on January 8.

China is pressing local officials to deliver on plans to build a unified national market, issuing guidelines for improving competition and dismantling barriers to access as Beijing looks to expand domestic demand.

The document, published on Tuesday by the National Development Reform and Commission — China’s top economic planner — aims to provide a “working direction and basic reference” for local governments to implement the initiative that’s been in the works for years.

Husk Power Systems, the world’s biggest solar mini-grid operator, aims to raise an industry record of as much as $400 million in debt and equity this year as it expands across India and Africa.

The capital raise, which will be a mix of equity and debt, comes ahead of a planned initial public offering in 2027 and after it more than doubled revenue last year and increased the number of mini-grids it operates to 400 from 200.

The Rs 290-crore Quadrant Future Tek IPO saw a whopping 3.3 times subscription within an hour of opening on Day 1 (January 7). The IPO received bids for nearly 1.45 crore equity shares, as against the offer size of 58 lakh shares, the subscription data on NSE showed.

The subscription was led by retail investors, whose portion was subscribed 13.79 times. The portion reserved for non-institutional investors was subscribed 3.03 times. The portion reserved for Qualified Institutional Buyers (QIBs) is yet to be fully subscribed.

Two Indian chemical companies have been indicted for allegedly importing ingredients for the highly addictive opioid fentanyl into the United States and Mexico, the U.S. Department of Justice said on Monday.

Athos Chemicals and Raxuter Chemicals, both based in Gujarat, were each charged in Brooklyn with distributing the ingredients and conspiring to distribute them.

Raxuter and senior executive Bhavesh Lathiya, 36, were also charged with smuggling, and introducing misbranded drugs into interstate commerce.

The clean energy unit of NTPC Ltd., India’s largest thermal power producer, is developing a green hydrogen hub at an estimated cost of 1.8 trillion rupees ($21 billion) as the country seeks to add more carbon-free fuel to meet its needs.

NTPC Green Energy Ltd. is developing the project at Pudimadaka, near the city of Visakhapatnam, in the southern state of Andhra Pradesh. This is the first such project under India’s National Green Hydrogen Mission, a government statement said Monday.

Prime Minister Narendra Modi will lay the foundation stone for the project on Jan. 8, the statement said. Green hydrogen is produced by using renewable energy to split hydrogen and oxygen atoms in water.

Technichem Organics shares listed with a premium of 4 percent on the BSE SME platform on January 7 after over 400 times subscription to its Rs 25 crore issue.

Technichem Organics shares listed at Rs 57.25 per share on the BSE, a premium of 4.09 percent from its IPO price. The Rs 25.25 crore IPO had a price band of Rs 52-55 per share with a lot size of 2,000 shares.

The shares of Indo Farm Equipment, a manufacturer of tractors, pick-and-carry cranes, and other farm equipment, were listed at Rs 256 per share on the NSE, a healthy premium of 19.07 percent from its IPO price. The company's market market valuation post listing of shares stood at Rs 1,230.12 crore. The IPO was priced in the range of Rs 204-215 per share.

Indo Farm Equipment shares made a healthy stock market debut to list at a premium of 19 percent over its issue price on January 7, following a bumper subscription of 227.57 times on its final bidding day on January 2 to its Rs 260.15-crore initial public offering (IPO). Read more

Prashanth Tapse, Senior Vice President of Research at Mehta Equities Ltd, noted that despite the issue being slightly expensive, the robust subscription figures indicate strong investor confidence. Read more

According to market observers tracking the grey market premium activities, the shares of Indo Farm Equipment are commanding a GMP of about 40 percent in the unofficial market. Investorgain quoted a GMP of Rs 86, singalling a gain of 40 percent on listing of shares on the exchanges.

The initial public offer of Standard Glass Lining Technology Ltd got fully subscribed within minutes of opening for share sale on Monday and finally ended the day with 13.32 times subscription.

The public issue received bids for 27,75,00,862 shares against 2,08,29,567 shares on offer, translating into 13.32 times subscription, as per NSE data.

The quota for non-institutional investors garnered 25.42 times subscription while Retail Individual Investors (RIIs) part fetched 14.46 times subscription. Qualified Institutional Buyers (QIBs) portion received 1.82 times subscription.

Standard Glass Lining Technology on Friday said it has mobilised Rs 123 crore from anchor investors. The issue, with a price band of Rs 133-140 per share, will conclude on January 8.

Quadrant Future Tek on Monday said it has raised over Rs 130 crore from anchor investors a day before its initial share sale opening for public subscription.

WhiteOak Capital Mutual Fund (MF), Kotak MF, LIC MF, Bank of India MF, Citigroup Global Markets Mauritius, Ashoka WhiteOak ICAV, Bengal Finance and Investments Shubhkam Venture (I) Pvt Ltd, and Capri Global Capital, among others, were the buyers, according to a circular uploaded on BSE's website.

According to the circular, Quadrant Future Tek has allotted 45 lakh equity shares to 22 entities at Rs 290 per equity share, which is also the upper end of the price band.

This took the combined transaction size to Rs 130.50 crore. The public issue, with a price band of Rs 275-290 per share for its initial share sale, will open for public subscription on Tuesday and will conclude on Thursday.

Capital Infra Trust InvIT, sponsored by Gawar Construction, raised Rs 703 crore from 27 institutional investors through its anchor book on January 6, a day before the issue opened.

The infrastructure investment trust aims to mobilise Rs 1,578 crore through its initial share sale, which consists of a fresh issuance of units worth Rs 1,077 crore and an offer-for-sale of Rs 501 crore worth of units by the sponsor, who is selling its holdings. The price band for the issue has been set at Rs 99-100 per unit. Read more

Maharashtra Natural Gas (MNGL), a joint venture between BPCL, GAIL and IGL is preparing to list through an Initial Public Offering (IPO) of over Rs 1,000 crore, with the board of BPCL having given its in-principle nod for the issue, a company filing by the oil marketing company said on January 6. Read more

The issue has a price band of Rs 204-215 per share. The IPO comprises a fresh issue of 86 lakh equity shares and an Offer-for-Sale (OFS) of 35 lakh shares by promoter Ranbir Singh Khadwalia.

Proceeds from the fresh issue will be used to set up a new dedicated unit for expansion of the company's pick & carry cranes manufacturing capacity, payment of debt, investment in the company's NBFC subsidiary Barota Finance for financing the augmentation of its capital base to meet its future capital requirements.

Indo Farm Equipment manufactures tractors, pick & carry cranes and other farm equipment. At the upper end of the price band, the IPO size has been pegged at Rs 260 crore, placing the company's market capitalisation at over Rs 1,000 crore. Aryaman Financial Services is the sole book-running lead manager for the issue. The equity shares will be listed on the BSE and NSE.

Gold prices held its ground on Tuesday, with investors awaiting more economic data later this week for cues on the Federal Reserve's interest rate trajectory for this year.

The US has blacklisted Tencent Holdings Ltd. and Contemporary Amperex Technology Co. Ltd. for alleged links to the Chinese military, targeting the world’s biggest gaming publisher and top electric-vehicle battery maker in a surprise move weeks before Donald Trump takes office.

CATL, a major supplier to Tesla Inc., joined Tencent on a Federal Register of entities deemed to have ties with the People’s Liberation Army. Both companies protested their inclusion as a mistake, saying they have no ties with the military. Tencent’s stock slid more than 7% in Hong Kong, notching its biggest intraday drop since October. CATL’s shares fell more than 5%, also their biggest fall in about three months.

Indo Farm Equipment IPO opened for subscription on December 31 and closed on January 2. The Rs 260.15 crore offer has a fresh issue of 0.86 crores, having a combined value of Rs 184.9 crore, while an offer-for-sale component of 0.35 crore shares with a total value of Rs 75.25.

The IPO allotment was finalized last week on January 3 and the shares will get listed today (January 7).

Non-Institutional Investors part garnered 501.65 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 101.64 times. The portion for Qualified Institutional Buyers (QIBs) fetched 242.40 times subscription.

Earlier, it garnered a little over Rs 78 crore from anchor investors.

Indo Farm Equipment IPO saw one of highest subscriptions since Vibhor Steel Tubes IPO closed in February 2024 with over 320 times subscription and Manba Finance in September 2024 with 224 times subscription.

The initial public offer of Indo Farm Equipment Ltd received 227.57 times subscription on the final day of bidding on Thursday. The initial share sale got bids for 192 crore shares against 84.70 lakh shares on offer, as per NSE data. Read more