Newgen Software launches Rs. 400 crore IPO on 16 January

Newgen Software Technologies Limited has said that it will launch an initial public offering (IPO) on 16 January to raise over Rs. 400 crore. The company has fixed a price band of Rs. 240-245 per share. The IPO comprises a fresh issue of shares worth Rs. 95 crore and an OFS of 13.45 million shares by existing venture capital investors. The IPO closes on 18 January. At the upper end of the price band, the offer will collectively bring in the company and the exiting investors around Rs. 424.6 crore.

Venture capital investors sell their stakes include Ascent Capital, IDG Ventures and SAP Ventures. Ascent Capital is selling its entire 11.42% stake in Newgen, while IDG is selling 4.57% and SAP Ventures’ 3.31%.

Investment banks ICICI Securities Ltd, IDFC Bank Ltd and Jefferies India Pvt Ltd are managing the Newgen share sale.  Newgen Software Technologies’ IPO will be the second initial share sale this year.

Reliance Nippon AMC to be listed on NSE on Nov 6

The shares of Reliance Nippon AMC will be listed on the National Stock Exchange (NSE) on Monday, Nov 6. The listing ceremony at NSE will be attended by the Reliance group chairman Anil Ambani; Anmol Ambani, ED, Reliance Capital; among other company dignitaries of the company.

The initial offer sale aimed at raising an estimated Rs. 1,542.24 crore, received bids for 3,493 mln shares against the total issue size of 4,28,40,000.

The IPO had opened for subscription from Oct 25- 27, 2017 in a price band of Rs. 247- 252, which was oversubscribed by 81.54 times at the close of the bidding.

The Rs 1,540 crore IPO saw healthy demand in all three investor categories.  The institutional portion was oversubscribed 118 times; HNI segment was oversubscribed by 209.44 times and retail investor portion by five times.

Nifty Realty spikes by 1.22%

Realty stocks registered a surge on Tuesday at lunch hours, rising up the Nifty Realty index higher by 1.22%. With the Real Estate Regulatory Authority and GST settling in, market players expect sales of residential and commercial units to pick up.

Sobha developers Limited was leading the Nifty pack, with its stocks trading at Rs. 538.05 per share, higher by 4.65%, while the stock of Prestige Estates Projects Limited was trading at Rs. 289.95, up by 3.89%, and Godrej Properties was at Rs. 687.10, up by 3.87% followed by the shares of Housing Development & Infrastructure which was at Rs. 55.80 per share, up by 2.86%. Among realty stocks, Brigade Enterprises, DLF and India Bulls Real Estate were trading in the green zone, while Phoenix Mills, Oberoi Realty and Unitech were trading in the red zone at during the day. 

At 2:30 pm, Nifty50 was trading at 10,212.20, higher by 27.35 points while BSE Sensex was trading at 32,600.75, higher by 94 points.

FUTURE RETAIL : Stocks Technical Recommendation for Tomorrow (4 Sep 2107)

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in FUTURE RETAIL.

“FUTURE RETAIL is the stock which I would recommend to buy above Rs 576; this can see a upside to levels closer to Rs 596-600 zones, keep stop loss below Rs 552”.

A focused first-full year of pure-play asset light retail business has opened doors to huge opportunities across their large & small stores. Deployment of technology tools in the last few years & on a continued basis, has given the Company a concrete direction.

FUTURE RETAIL was closed 3.88 percent up today at Rs 572.10 at NSE.