The last two months have been hectic for IPO investors with a flurry of listings. September, particularly, was the busiest in nearly three decades. For investors startled with the number of IPOs, marquee picks from star names might have a clue as to which IPOs are worth looking at. Ashish Kacholia is one such name who invested in the
Fabtech Technologies, a biopharma engineering solutions provider, launched its Rs 230 crore IPO on September 29, closing October 1, with a price band of Rs 181-191. The issue is attracting strong grey market interest, indicating an 18% listing gain expectation. Proceeds will fund working capital and acquisitions, bolstering its robust financial performance and diversified order book.
Gold prices rose on Monday, hovering near an all-time high, fueled by a weaker U.S. dollar and growing expectations for Federal Reserve interest rate cuts later this year. Traders are currently pricing in a 90% chance of a Fed cut in October. This surge occurred despite weakening physical demand in China, while other Asian hubs saw steady buying.
Atlanta Electricals made a strong market debut, listing at a 14% premium over its IPO price, aligning with grey market predictions. The Rs 687 crore IPO, priced at the upper end, was heavily oversubscribed. Analysts are cautiously positive, viewing the company as a potential long-term investment due to its strong order book and position in India's growing power sector.
Oil prices fell as Iraq's Kurdistan region restarted crude exports via Turkey. This adds to global supplies. OPEC+ also plans another oil output hike in November. Brent and WTI crude futures slipped one percent. This follows price increases last week. Ukraine's drone attacks had cut Russia's fuel exports.
Asian markets opened cautiously Monday as investors eyed a potential U.S. government shutdown, which could delay key economic data and marginally impact the Fed's October rate cut decision. Despite this, S&P 500 futures rose, while gold neared a record high and oil prices slipped on increased supply.
Microfinance business is significantly impacting small finance banks like ESAF, Suryoday, and Utkarsh, with nearly a fifth of their microloan books under severe stress. This deterioration in asset quality, driven by high unsecured microloans, is weighing heavily on their profitability and has led to rating downgrades and losses for some.
India's central bank has set a September 30 deadline for Tata Sons, the holding company of the Tata Group, to list publicly. Classified as an upper-layer shadow bank, Tata Sons faces this mandate under new RBI regulations for large NBFCs. The group, however, argues it's not ready and has sought deregistration, creating a significant regulatory face-off.
