The much‑awaited listing of Bharat Coking Coal may be pushed back by a few days because the stock exchanges will be closed on Jan 15 for elections in Maharashtra.
The IPO opened on Jan 9 and was set to close on Jan 13. Allotment was expected on Jan 14, with refunds and share credit scheduled for Jan 15. Since Jan 15 is a settlement holiday, those post‑allotment steps are likely to move to Jan 16, which means the actual listing could shift from Jan 16 to Jan 17 or even Jan 19, pending official confirmation.
Investor enthusiasm remains high. The Rs 1,071 crore issue was fully subscribed within 30 minutes on day one and more than 25 times oversubscribed by the end of day two. Retail and non‑institutional investors led the bidding, showing confidence in the company’s valuation.
In the grey market, the shares traded at a premium of about Rs 11 (≈46% above the top issue price of Rs 23), hinting at expected listing gains even in a volatile market.
Brokerages generally recommend subscribing mainly for potential listing gains, noting that the valuation appears fairly priced given the company’s market share and reserve base.
Even if the listing is delayed by a few days, strong subscription levels and a solid financial profile suggest the IPO could still deliver healthy returns for investors.
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.
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Join TelegramIndia saw an unprecedented wave of initial public offerings in 2025, raising nearly Rs 1.95 trillion and giving banks a record $417 million in underwriting fees. Record IPO Activity in 2025 Companies listed on Indian exchanges pulled in about Rs 1.95 trillion, beating the previous year’s high of Rs 1.73 trillion. The jump was driven by more retail investors, steady demand from institutions, and rules that made it easier for firms to go public. Bank Earnings Reach New High Strong deal flow stopped years of fee‑cutting wars and let banks charge higher commissions. On average, banks earned 1.86% of the deal value, up from 1.67% a year earlier. Axis Bank topped the list with $34.3 million in fees. Citi earned $27.1 million. JM Financial collected $25.6 million. JPMorgan made $22.6 million. Motilal Oswal Financial Services saw its fee income grow almost fourfold. Other notable earners included Morgan Stanley and State Bank of India. Why Fees Are Still Low by Global Standards Even with the record haul, Indian underwriting fees remain cheaper than many markets. For example, the typical fee in Hong Kong sits around 1.5%, while India’s average is now about 1.86%. What Might Happen Next? Analysts expect fee percentages to edge higher if more standardized IPOs hit the market this year. A steady pipeline could also reduce the need for aggressive discounting, helping keep pricing discipline intact. Remember, this is perspective, not prediction. Do your own research before making any investment decisions.
India’s National Stock Exchange (NSE) is gearing up to submit its draft prospectus for a public listing by the end of March. Why the IPO Matters The NSE is valued at about $55 billion, making it one of the largest IPOs the country has ever seen. A successful listing could bring new investment opportunities for retail and institutional investors alike. Current Progress The exchange is in talks with investment banks and law firms to finalize the prospectus and test investor demand. Formal appointments will follow once SEBI, the market regulator, gives a no‑objection certificate. Regulatory Hurdles The NSE has been trying to go public since 2016. A pending Supreme Court case and SEBI’s investigation into its co‑location facilities have delayed the process. Last year, the exchange offered a settlement of about ₹13.9 billion, which SEBI is still reviewing. Shareholder Landscape More than 177,000 shareholders currently hold unlisted NSE shares. Major institutional owners include Life Insurance Corporation of India, State Bank of India, Temasek Holdings, Morgan Stanley and the Canada Pension Plan Investment Board. Before the IPO, unlisted shares trade at roughly ₹2,000 each. What Investors Should Watch How many shares will actually be offered – the company has not disclosed the exact percentage. Whether the IPO pricing will be attractive compared with the listed rival, BSE Ltd, which trades around ₹2,800 per share. Potential priority given to long‑term institutional holders during the share‑sale process. Bottom Line If the NSE clears SEBI’s final hurdle and files the prospectus as planned, retail investors could gain exposure to a market‑leader that has never been listed before. Keep an eye on the official filing and any pricing guidance that follows. Remember, this is perspective, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.
Shadowfax, a leading Indian logistics company, is gearing up for its initial public offering (IPO) next week. IPO plan and pricing The firm will raise about Rs 1,900 crore through the IPO. It aims for a post‑IPO valuation of roughly Rs 7,400 crore, a bit lower than earlier estimates to attract long‑term investors. The issue is split into two parts: fresh shares worth Rs 1,000 crore and an offer‑for‑sale (OFS) of Rs 900 crore by existing shareholders such as Flipkart, Eight Roads, Nokia Growth Partners, IFC, Mirae Asset, Qualcomm and Snapdeal founders. How the money will be used Proceeds from the fresh issue will be used to expand the company’s network, pay lease costs for new first‑mile, last‑mile and sort centres, boost branding and marketing, pursue undisclosed acquisitions and cover general corporate needs. Company background Shadowfax provides express parcel delivery, reverse pickups, on‑demand hyper‑local and critical logistics services for e‑commerce, quick‑commerce, food marketplaces and on‑demand mobility firms. It operates in more than 14,700 Indian pincodes. Recent performance Revenue for the first half of FY 2026 was about Rs 1,800 crore, a 68% jump year‑on‑year. Total revenue for FY 2025 was Rs 2,485 crore. The e‑commerce express parcel segment accounts for around 70% of sales, with quick‑commerce logistics contributing another 20%. Market share in the express parcel space grew to about 21% in Q1 FY 2026, up from roughly 8% in FY 2022. What it means for investors The more conservative pricing could make the shares attractive to institutional investors looking for stable growth in India’s logistics sector. Existing shareholders are also reducing their stakes, which may signal confidence in the company’s future prospects. Remember, this is my perspective, not a prediction. Do your own research before making any investment decisions.