Companies that have recently made their stock market debut have worse corporate governance scores than the larger listed ones, according to a report.Firms that recently had their initial public offering (IPO) had an average score of 54, as against a score of 58 for those listed on the BSE 100, according to Indian Corporate Governance Scorecard.The median score for all 150 companies was 61. The study was jointly developed by the BSE, the International Finance Corporation (IFC) and Institutional Investor Advisory Services India (IiAS),Close The study, titled “Stability despite headwinds”, analysed 150 BSE-listed companies, of which 50 are IPO companies listed between April 2015 and March 2017. related news Edelweiss MF launches Bharat Bond ETF; offer to end on December 20 Mastercard ties up with Federal Bank for identity check security for digital transactions Govt to sell 100% stake in Air India, says Hardeep Singh Puri Only three IPO companies were in the … [Read more...] about 50 IPOs in FY16, FY17 fail corporate governance test versus listed BSE 100 peers
Ipo vs listing
Ujjivan Small Finance Bank, the subsidiary of microfinance lender Ujjivan Financial Services started its first trade at Rs 58 on the Bombay Stock Exchange on December 12.The stock listed with a premium of 56.75 percent over the issue price of Rs 37 per share.The premium was warranted considering the tremendous response to the Rs 750-crore public issue and improvement in earnings along with asset quality in April-September 2019 against previous years, experts feel.Close "Premium listing was justified as the issue was well priced with attractive valuation when compared to other listed small bank peers which are trading higher price-to-book value, leaving something on table to the IPO investors. Better asset quality and experienced management with pan-India presence provided comforts to investors at the time of subscription," Prashanth Tapse, AVP Research at Mehta Equities told Moneycontrol. related news Ujjivan Small Finance Bank IPO: Analysts expect 50% listing premium … [Read more...] about Robust listing: Ujjivan Small Finance Bank debuts with 56% premium at Rs 58
Ujjivan Small Finance Bank listed with a massive 56 percent premium over its issue price on December 12 despite volatility in the market.The stock touched an intraday high of Rs 62.8 on the National Stock Exchange (up 70 percent) after opening at Rs 58.75 against IPO price of Rs 37. The bumper listing was on expected lines given the strong response received for the company's IPO.Combined volume on BSE and National Stock Exchange was more than 20 crore equity shares.Close Ujjivan Small Finance Bank (USFB) is a subsidiary of microfinance lender Ujjivan Financial Services. related news Morgan Stanley bullish on NTPC, Adani Ports and L&T Infotech Initiating coverage: HDFC AMC and M&M among 10 stocks that could return 10-40% in 2020 Most experts are now advising investors to hold the stock for longer term on the back of good fundamentals. Though some suggest investors can do partial profit booking and hold the rest for longer term."Ujjivan SFB's … [Read more...] about Ujjivan Small Finance Bank: Should investors buy, sell or hold after the bumper listing?
Prince Pipes and Fittings will launch its initial public offering on December 18 with a price band of Rs 177-178 per share.The Rs 500-crore IPO comprises a fresh issue of Rs 250 crore and an offer for sale of Rs 250 crore.The issue will open on December 18 and close on December 20. The company, after consultation with merchant bankers, decided a minimum bid lot of 84 equity shares and in multiples of 84 shares thereafter.Close As of October 31, 2019, the total installed capacity of Prince Pipes' six existing plants was 2,41,211 tonnes per annum. The company plans to expand the installed capacity at its plant in Jobner in Rajasthan from 6,221 tonnes per annum to 17,021 tonnes per annum by December 31, 2019 and to 20,909 tonnes per annum by the end of Fiscal 2020. related news SAMHI Hotels receives SEBI approval for Rs 1,800-2,000 crore IPO SBI Cards files IPO papers with SEBI, plans to raise Rs 8,000-9,500 cr Ujjivan Small Finance Bank IPO to open on December 2, price … [Read more...] about Prince Pipes to launch IPO on Dec 18 with price band at Rs 177-178
Out of 15 companies that launched their IPOs in 2019 only seven stocks listed with double-digit gains.The issues that fared well were on the back of strong fundamentals of the company and in some of cases monopolistic market and niche business areas.Indian Railways Catering and Tourism Corporation (IRCTC), the only catering and ticket services provider to railways, witnessed the maximum listing gains of 101.3 percent on its first day - October 14. TheClose Rs 645-crore public issue was oversubscribed by 112 times during September 30-October 3. related news Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win D- Street Buzz: PSU banks surge on likely resolution of 4 NPA cases; Indiabulls Housing most active It was a multibagger stock this year, rallying 172 percent so far.The company has also diversified into other businesses, including … [Read more...] about IPO meter: Only 7 out of 15 stocks listed with double-digit gains this year