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The IPO consists of a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia Pte Ltd. Burger King India, a quick service restaurant chain, is expected to launch its maiden public offer for subscription next week. The company, after consultation with merchant bankers, has fixed IPO price band at Rs 59-60 per share, which is 5.9-6 times of its face value of equity shares. The initial public offering will open on December 2 and close on December 4, 2020. The IPO consists of a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia Pte Ltd. The Indian subsidiary of US-based Burger King aims to raise Rs 810 crore via its public issue, at a higher price band. The company had undertaken a pre-IPO placement, by way of rights issue, of Rs 58.08 crore at a price of Rs 44 per share to promoter and preferential allotment of Rs 91.92 crore at a price of Rs 58.50 per share. Hence, as a result, the f...

If the expected IPOs launch in December, then the tally of number of IPOs could be similar to 2019 which had seen 16 main board IPOs. After the SBI Card  IPO  in early March, the primary market sentiment took a hit due to the outbreak of coronavirus and subsequent impact on economic activities and the secondary market. Benchmark indices crashed 25 percent each in March from January highs. Rossari Biotech, which tested the waters in the primary market with its IPO in July, had to cancel its press conference due to COVID implications. The public issue though received an overwhelming response from investors. The public issues of Happiest Minds Technologies, Route Mobile and Mazagon Dock Shipbuilders also saw spiked interest from investors and gave handsome returns on listing. As secondary market started to pick up pace, the interest in primary market also gained. By the time Rossari Biotech launched its IPO, the benchmark indices had already recovered more tha...

On the technical front, now 13,000 should act as strong resistance for Nifty while 29,500 would be an immediate hurdle for Bank Nifty. ICICI Lombard General Insurance Company | LTP: Rs 1,317.55 | Target price: Rs 1,480 | Stop loss: Rs 1,230 | Upside: 12% For the last three months, the stock has been consistently moving lower in a downward sloping channel with the formation of the lower high and lower bottom pattern. However, this week, the stock has once again moved back above its key resistance levels of Rs 1,320 with a breakout above the falling trendline of the sloping channel. The breakout can be seen with rising volumes and positive divergences on secondary oscillators. The stock is holding well above its long-term moving averages on daily and weekly intervals. EID Parry India | LTP: Rs 301 | Target price: Rs 337 | Stop loss: Rs 273 | Upside: 12% For the last nearly seven weeks, the stock has been consolidating in a broader range of Rs 265-295 along with consistent b...

Sebi has linked the IPF amount with trading volumes. The NSE derives 95 percent of its volumes from cash and derivatives trade. The size of the National Stock Exchange’s Investor Protection Fund (IPF) will increase three times after a new framework was laid out for it by the Securities and Exchange Board of India (Sebi). The market regulator has mandated a higher IPF be maintained in relation to trading volumes. The IPF is used to refund investors who lose money in the event of a default by brokers. Investors are paid up to Rs 25 lakh under this arrangement. A safety net The NSE had around Rs 585 crore of IPF money, less than the Bombay Stock Exchange, which has about Rs 750 crore. Sebi chairman Ajay Tyagi had raised concerns about IPF money during a recent conference on capital markets. A note from the NSE said: “SEBI has also advised NSE to increase the size of its IPF corpus to Rs 1,500 crore in order to protect the interests of investors in light of recent broker defaults...

Lakshmi Vilas Bank account holders can withdraw up to Rs 25,000, including outflows on SIPs and EMIs. Your money is safe. But change bank mandates soon. The merger with DBS Bank will smoothen things On November 17, the Reserve Bank of India (RBI) imposed a month-long  moratorium  on cash strapped  Lakshmi Vilas Bank  (LVB), a small private sector bank. If you are a customer of LVB, then you cannot withdraw more than Rs 25,000 until December 16, 2020. This includes your savings, current and other deposit accounts, including your fixed deposits. If you have more than one deposit account with the bank, then the moratorium will apply cumulatively on all your accounts. There’s a small relief in cases of emergencies. The RBI has said that you could withdraw up to Rs 5 lakh for medical emergencies, payment towards higher education or for marriage. “For LVB, the negative noise was there for quite some time. The moratorium comes in the wake of deteriorating financials of ...

Prabhudas Lilladher believes that current uncertainty is a passing phase and return to normalcy will result in several beaten down segments bouncing back strongly from FY22. Here is a list of 15 largecaps which could return 14-48 percent by next Diwali 2021: Brokerage: Motilal Oswal State Bank of India We believe the earnings normalisation cycle for SBI has begun and it remains the best play among the PSU banks, on gradual recovery in the Indian economy, with a healthy PCR of 71 percent, robust capitalization, a strong liability franchise, and improved core operating profitability. Hero Motocorp HMCL is poised for faster recovery over other 2-wheeler peers due to its rural-focused portfolio and market leadership in the entry and executive segments. Considering its improved competitive positioning post BS6, HMCL should continue to see good demand with its economy-executive focused portfolio. UltraTech Cement UltraTech has a strong pan-India distribution network and p...

In fact the premium has consistently been falling since the announcement of price band for its IPO in first week of November. The share price premium of Gland Pharma in the grey market has significantly fallen ahead of the listing of shares later this week, despite the market being flooded with FII money and being traded at record high levels. Shares are available at a premium of just Rs 6-10 in the grey market compared to its IPO price of Rs 1,500 per share, people familiar with the primary market development told Moneycontrol. In fact, the premium has been falling consistently since the announcement of price band for its IPO in the first week of November. It was trading at a premium of Rs 200 per share just before the declaration of IPO price band, but then the  premium fell to around Rs 60-70 and after closing of IPO , it further fell to Rs 35-40. The high valuations and tepid response from investors (barring QIBs) could be some of key reasons for a decline in grey marke...

On the technical front, 12,750 and 29,500 would act as an immediate hurdle for Nifty and Bank Nifty, respectively. Indian markets closed at record high on November 10 on the back of strong global cues. So far, Nifty has surged more than 8 percent this month while Bank Nifty has gained nearly 19 percent as uncertainty over the US elections ended along with development in the COVID vaccine. Banking and financial stocks surged sharply with Bajaj and HDFC twins among top gainers. On the derivatives front, the rally was supported by short-covering, done by call writers at 12,400 and 12,500 strikes. Furthermore, put writers added hefty open interest at 12,400 strikes and seen shifting at higher bands. On the technical front, 12,750 and 29,500 would act as an immediate hurdle for Nifty and Bank Nifty, respectively. However, secondary oscillators suggest that the market is a bit overheated now and traders should expect volatility in the coming sessions. On the downside, 12,400 ...

Nomura also pointed out that the September quarter earnings have beaten expectations. Global brokerage firm Nomura is of the view that Nifty may hit the level of 13,640 by December 2021. Nomura is of the view that the improvement in sentiment around the pandemic and improving high-frequency growth indicators and corporate earnings as the economy opens up could lead to market overlooking potential growth concerns that can emerge over time. "Factoring in 4-5 percent risk to FY22/23 consensus earnings estimates and using 19 times on December-22 earnings, we arrive at December-21 Nifty target of 13,640, implying upside of 7 percent from the current levels. Upside risk to our target multiple in the near-term remains, on the back of strong capital flows," said Nomura in a note on November 12. Nomura thinks We think capital flows resulting from improved risk sentiment will drive stocks in the near term. The foreign brokerage firm also highlighted that the market sentiment ...