Tata Technologies, Fedbank Financial Services, Flair Writing Industries, and Gandhar Oil Refinery are all poised to go public today, November 22. All of these public bids will expire on November 24. Let’s go into the specifics and determine whether investors should subscribe to these problems.
Tata Technologies
The Rs 3,042.51 crore public offer is wholly comprised of 6.08 crore shares, representing 15% of the paid-up capital. Because there is no new issue component, Tata Technologies will not profit from this issue. Instead, the whole revenues will be distributed to the selling stockholders. The issue’s price range has been set at Rs 475-500 per share. The firm is valued at Rs 20,283 crore at the highest price band.
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Analysts at IDBI Capital, Reliance Securities, Arihant Capital, and Mehta Equities have accorded the issue a ‘Subscribe’ recommendation based on its robust commercial prospects, stable parentage, and solid financials with improved margins and ratios.
Fedbank Financial Services
The public offering is intended to raise Rs 1,092.26 crore for the non-banking financial corporation (NBFC). The offer price range has been set at Rs 133-140 per share. The public offering consists of the corporation issuing 4.29 crore shares worth Rs 600.77 crore and the selling shareholders offering 3.51 crore equity shares worth Rs 492.26 crore at the top price band.
Anand Rathi and StoxBox have urged investors to subscribe to the issue, citing the fair value and the third quickest AUM growth among India’s NBFC peers. Meanwhile, Nirmal Bang awarded the issue a ‘Neutral’ rating, citing the NBFC’s lower RoA of 2.3 percent in FY23, compared to the peer average of 3.4 percent.
Flair Writing Industries
The Rs 593-crore IPO is made up of a fresh issue of 96.05 lakh shares worth Rs 292 crore and a public offer of 99.01 lakh shares worth Rs 301 crore. The price range for the offering is Rs 288-304 per share.
Choice, Anand Rathi, and StoxBox have all granted the issue a ‘Subscribe’ rating because to its good financials, moderate value, and significant position in the writing instruments business.
Gandhar Oil Refinery
The white oil maker intends to collect Rs 500.69 crore through an initial public offering. The offer includes a new issuance of 1.78 crore shares worth Rs 302 crore and a sale of 1.17 crore shares for Rs 198.69 crore. The price range for each share has been set at Rs 160-169.
The issue has received a ‘Subscribe’ rating from BP Wealth, Swastika Investmart, and StoxBox because of its solid financial performance, product portfolio development, developing foreign operations, and reasonable value.
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