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Mint
30-07-2025
- Business
- Mint
Laxmi India Finance IPO Day 2: Should you subscribe? A look at subscription status and latest GMP
The initial public offering (IPO) of Laxmi India Finance opened for subscription on Tuesday, July 29. The shadow lender is offering its shares in the price band of ₹ 150-158 per share. Investors can apply for a minimum of 94 equity shares and in multiples thereafter. The IPO will close for bidding on Thursday, July 31. On Day 2 of the IPO, as of 10:15 am, the issue was subscribed 0.44 times, receiving bids for 49.22 lakh shares against 1.13 crore shares on offer. The retail investor portion was booked 0.72 times, while the non-institutional investor (NII) segment saw 0.23 times subscription. The qualified institutional buyer (QIB) category was bid 0.10 percent. Moreover, the employee quota was subscribed 0.46 times till In the grey market, shares of Laxmi India Finance were trading at a grey market premium (GMP) of ₹ 8.25, implying no gain over the issue price. This indicates an estimated listing price of ₹ 166.25 per share, up 5.22 percent from IPO price. Investors should note that GMP is merely indicative of unlisted market sentiment and is subject to rapid changes. The company aims to raise a total of ₹ 254.26 crore through the IPO, comprising a fresh equity issue worth ₹ 165.17 crore and an offer-for-sale (OFS) of up to 56,38,620 equity shares amounting to ₹ 89.09 crore. The net proceeds from the fresh issue will be utilised for augmenting the company's capital base to meet future capital requirements and for general corporate purposes. Prior to the IPO opening, Laxmi India Finance mobilised ₹ 75.5 crore through its anchor book, allotting 47.79 lakh shares at ₹ 158 each. Anchor investors included Saint Capital Fund, BNP Paribas Financial Markets – ODI, Compact Structure Fund, Cognizant Capital Dynamic Opportunities Fund, India Max Investment Fund, Holani Venture Capital Fund-I, and Rajasthan Global Securities. PL Capital Markets is acting as the book-running lead manager to the issue, while MUFG Intime India (Link Intime) is the registrar. Shares of the company are proposed to be listed on both the BSE and NSE, with listing scheduled for Tuesday, August 5. Incorporated in 1996, Laxmi India Finance is engaged in offering MSME loans, vehicle loans, construction finance, and other structured lending solutions, largely catering to small businesses and entrepreneurs. More than 80 percent of its MSME loans qualify as priority sector lending. For the year ended March 31, 2025, Laxmi India Finance reported a net profit of ₹ 36.01 crore with revenue of ₹ 248.04 crore. In the previous financial year ended March 31, 2024, the company posted a net profit of ₹ 22.47 crore and revenue of ₹ 175.02 crore. It is projected to command a net profit of close to ₹ 825.83 crore. Arihant said the company has shown strong financial performance and is among the fastest-growing players in terms of assets under management (AUM), reporting 32.83 percent YoY AUM growth in FY25. SBI Securities added that the company has maintained a low gross NPA of 1.07 percent and net NPA of 0.48 percent during the same period. The brokerage highlighted Laxmi India Finance's diversified funding base, supported by 47 lenders, and a strong capital adequacy ratio of 20.80 percent. The issue is valued at a P/BV of 3.21x, based on FY25 BV/share of ₹ 49.26. It recommended subscribing to the IPO for the long term. Swastika noted that the company's core business revolves around lending to segments underserved by traditional banks. However, it pointed out that the business operates in a highly competitive environment. Based on the current financial metrics, the firm believes the IPO is fairly priced. Therefore, it advised investors to subscribe to the issue with caution. SMIFS recommended subscribing to the issue based on the company's consistent growth in AUM, profitability, and asset quality. It emphasized the importance of continued risk management as the company scales up. The firm also pointed to Laxmi India Finance's strong management, securitised loan book, and opportunities from cross-selling and geographic expansion as reasons to consider the IPO a long-term investment opportunity. Ventura noted that the company intends to expand its presence in existing and new geographies, enhance digital capabilities for underwriting and loan servicing, and diversify its lending portfolio by offering new-age financial products. The company is also looking to strengthen its SME financing arm and increase cross-selling of insurance and other financial offerings. Based on this strategy, Ventura recommended subscribing to the IPO. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
04-07-2025
- Business
- Business Standard
Swiggy rises 2% a day after BNP Paribas Financial Mkts buys 0.32 mn shares
Swiggy share price rose 2.3 per cent in trade, logging an intraday high at ₹394.95 per share. At 10:43 AM, Swiggy shares were trading 1.54 per cent higher at ₹392 per share on the BSE. In comparison, the BSE Sensex was up 0.07 per cent at 83,294.82. The company's market capitalisation stood at ₹97,750.96 crore. Its 52-week high was at ₹617 per share and 52-week low was at ₹297 per share. Why are Swiggy shares buzzing in trade? The northward movement in the stock came a day after BNP Paribas Financial Markets bought 0.32 million shares at ₹381 per share from Citigroup Global Markets Mauritius, according to block deal data on BSE. As of March 2025, mutual funds held a 5.82 per cent stake in the company, alternate investment funds 0.98 per cent, and insurance companies held a 1.36 per cent stake. In other developments, recently, food delivery platform Swiggy announced the launch of the 99 Store, a new range of offerings on its application (app). The section, which features quickly prepared dishes, offers single meals at a flat price of ₹99. The store is currently available to users in more than 175 cities, including Bengaluru, Ahmedabad, Kolkata, Hyderabad, Delhi, Pune, Chennai, Lucknow, Vadodara, Thiruvananthapuram, Tirupati, Patna, Surat, Bhopal, Dehradun, Mysuru, and Ludhiana. That apart, Swiggy is among stocks that could be added to the MSCI Indexes in the upcoming review this August, according to JM Financial. The MSCI India Standard Index rebalancing will be announced on August 7 after market hours, the brokerage said in a note. The counter of the food delivery giant has recently come under focus as Rapido is gearing up to enter the food delivery space. Rapido is expected to charge a commission rate of 8-15 per cent from restaurant partners, which is significantly lower than Zomato and Swiggy's 21–22 per cent blended rates. The August 2025 rejig may include up to four additions, drawing estimated inflows of $850 million, it added. The changes will take effect from August 27. Swiggy is the only 'high' probable stock that could enter the global index aggregator's MSCI India Standard Index. The food delivery firm is expected to bring flows worth $385 million, the report sa
Economic Times
12-06-2025
- Business
- Economic Times
Defying gravity: This smallcap stock surges 22% in just two sessions after BNP Paribas buys stake
Unified Data Tech shares today hit a fresh 52-week high of Rs 387 on the BSE, gaining 16% over Wednesday's closing price. The stock extended its last session rally, surging 22% in just two sessions, defying lackluster sentiments prevailing in the markets. ADVERTISEMENT The price action was accompanied with strong volumes with a spurt of 2.8 times on the BSE. The gains come on the back of a block deal yesterday, in which French multinational bank and financial services company BNP Paribas bought over 1 lakh shares in the company. The shares were purchased via its arm BNP Paribas Financial Markets at a price of Rs 332.68 a piece and the total deal size is Rs 3.40 crore. This smallcap counter has remained unbeaten for the past five trading sessions; the uptick has been to the tune of 36%. The company was originally incorporated as a private limited company and was later converted to a public limited company and the name was changed to Unified Data- Tech Solutions Limited. The company offers IT infrastructure services and system integration services. The promoters of the company are Harshaben Mehta, Hiren Rajendra Mehta, Rajendra Kantilal Mehta and Deepa Pinak Mehta. BNP Paribas' stake buy comes following a recent stake sale in another smallcap counter Choice International where it sold 11 lakh shares in the company via a block deal. The deal was worth Rs 78 crore. Prior to the block deal, BNP Paribas held 40,01,631 equity shares representing 2% in the company as on March 31, 2025. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
30-05-2025
- Business
- Time of India
FSN E-Commerce Ventures block deal: BNP Paribas sells shares worth Rs 502 crore in Nykaa parent
FSN E-Commerce Ventures , which operates beauty & personal care brand Nykaa , witnessed a couple of block deals in which French multinational bank BNP Paribas net sold shares worth Rs 502 crore through its investment arm BNP Paribas Financial Markets. It sold over 2.48 crore shares at a price of Rs 202.81 a piece which was at a 1% discount from the Thursday closing price of Rs 204.65 on the BSE. The size of the deal was Rs 504 crore. In another block deal , BNP Paribas Financial Markets bought over 1 lakh shares at a price of Rs 202.08 per share, taking the deal size to Rs 2 crore. Also Read: Nykaa Q4 Results: Cons PAT skyrockets 193% YoY to Rs 20 crore, revenue up 24% FSN E-Commerce, which operates Nykaa brand, announced its Q4FY25 earnings on Friday where the company reported a net profit growth of 193% to Rs 20 crore versus Rs 7 crore in the year ago period. The profit is attributable to the equity shareholders of the parent. The revenue from operations was reported at Rs 2,062 crore which was a 24% uptick over Rs 1,668 crore reported in the corresponding period of the previous financial year. The profit after tax was down by just over 2% on a sequential basis versus Rs 26 crore reported in Q3FY25 while the revenue from operations declined 9% over Rs 2,267 crore reported in the October-December quarter of FY25. For the full financial year, the net profit stood at Rs 66 crore, up by 105% versus Rs 32 crore posted by the company in FY25. The topline was up at Rs 7,950 crore in FY25 from Rs 6,386 crore in FY24, recording a growth of 24%. The earnings were announced after market hours and Nykaa shares today ended at Rs 200.80 on the NSE, down by Rs 3.71 or 1.81% over the Thursday closing price. The overall sentiments remained subdued today as the headline index Nifty today closed at 24,750.70, down 0.33%.
Time of India
30-05-2025
- Business
- Time of India
Eternal block deal: BNP Paribas buys shares worth Rs 1,484 crore in Zomato parent
Eternal shares ended with 5% gains on Friday, likely riding on a block deal where BNP Paribas Financial Markets bought shares worth Rs 1,484 crore in the food delivery company. BNP Paribas Financial Markets, which is an arm of French multinational bank BNP Paribas, today bought over 6.24 crore shares at a price of Rs 238.25 a piece. The deal is worth Rs 1,489 crore. In a separate block deal, it also sold nearly 1.9 lakh shares at a price of Rs 239.95, taking the deal size to Rs 4.5 crore. On a net basis, shares worth Rs 1,484 crore were purchased. Eternal shares were purchased by BNP Paribas at a premium of 4.3% over the Thursday closing price of Rs 228.37 on the NSE. The deal followed a reduction in the Foreign Ownership Limit (FOL) by FTSE. In FTSE All World Index, the investability weighting of the stock went down from 82.74% to 49.5%. Also Read: Eternal may see outflows worth $840 million following FTSE, MSCI's weight cuts Live Events Eternal saw its net profit fall by 78% year-on-year (YoY) to Rs 39 crore in the March 2025 quarter. Revenue from operations increased 64% YoY to Rs 5,833 crore. Profitability was hit by higher expenses, which jumped as much as 68% YoY to Rs 6,104 crore. The drop in profit was also attributed to higher investments in expanding the company's quick commerce vertical, Blinkit, as well as increased infrastructure costs across segments. Adjusted EBITDA during the fourth quarter declined 15% YoY to Rs 165 crore.
