Latest news with #ICICIPrudentialMutualFund
Business Standard
11 hours ago
- Business
- Business Standard
Biocon raises Rs 4,500 crore via QIP
First equity fundraise since 2004 IPO sees strong institutional demand. Biocon has successfully concluded a Qualified Institutions Placement (QIP), raising Rs 4,500 crore (approximately $523 million), marking its first equity fundraise since its IPO in 2004. The company issued 13.63 crore equity shares at Rs 330 per share. The QIP opened on June 16 and closed on June 19, attracting participation from a mix of domestic and foreign institutional investors. Major names in the final orderbook included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Life, Nippon India Mutual Fund, Mirae Asset, Franklin Templeton, SBI General Insurance, Government Pension Fund Global, and BlackRock. The proceeds from the fundraise will be used for multiple strategic objectives, including purchasing optionally convertible debentures of Biocon Biologics from Goldman Sachs-managed funds, repaying certain borrowings, and meeting other financial and corporate needs. Following the issue, the combined stake of the promoter and promoter group stands at 54.45%, down from 60.64% as of March 2025. Siddharth Mittal, CEO and managing director, Biocon, said, "The strong response to our QIP reflects deep investor conviction in Biocon's differentiated strategy and consistent execution. This capital raise further strengthens our balance sheet, enabling us to invest in innovation, expand global access to lifesaving biopharmaceuticals, and advance our purpose of delivering affordable healthcare solutions that address pressing health inequities worldwide." Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. The companys consolidated net profit surged 154.2% to Rs 344.50 crore on a 12.8% jump in net sales to Rs 4,358.10 crore in Q4 FY25 over Q4 FY24. The scrip rose 0.86% to settle at Rs 351.60 on Friday, 20 June 2025.
India Today
2 days ago
- Business
- India Today
Stocks to watch today: Oswal Pumps, Biocon, United Spirits, Sai Life Sciences
Stock markets remained volatile and ended flat on Wednesday, as investors stayed cautious due to weak global cues and growing tension in the Middle East. On Friday, a mix of company updates and investor actions may influence specific stocks on Dalal a major player in the biopharmaceutical industry, has closed its qualified institutional placement (QIP) issue. The company finalised the allotment of 13.63 crore shares, raising Rs 4,500 crore. These shares were allotted at Rs 330 each. Notable investors in the QIP include ICICI Prudential Mutual Fund, SBI Mutual Fund, HDFC Life Insurance, Nippon Life India, Mirae Asset, and Franklin SpiritsUnited Spirits has announced that it will buy 37,683 equity shares of Nao Spirits & Beverages in two parts from existing shareholders. The cost of this acquisition is Rs 53.80 crore. In addition to this, United Spirits will subscribe to 31,820 new equity shares and 27,577 compulsorily convertible preference shares (CCPS) for Rs 56 crore. Once the first part of this transaction is completed, United Spirits will own 97.07% of Nao Spirits, making it a Life SciencesSai Life Sciences may see movement today as TPG Asia VII SF Pte is expected to sell a 6% stake in the company. This translates to around 1.25 crore shares, according to a CNBC-TV18 report. The deal is likely to be worth about USD 102 million, with a base price set at Rs 710 per share. The block deal could draw attention from institutional investors and Technology IndiaKaynes Technology has launched its QIP on June 19. The floor price has been fixed at Rs 5,625.75 per share. According to sources quoted by CNBC-TV18, the company aims to raise up to Rs 1,600 crore through this offer. The QIP is likely to help the company with expansion plans or strengthen its IndiaShares of Nestle India could be in focus after the company announced that its Board of Directors will meet on June 26. They will consider a proposal to issue bonus shares. Investors will watch this development closely, as bonus shares usually lead to positive market OneDevender Kumar, the Chief Revenue Officer of Direct Business at Angel One, has resigned. His last working day will be September 30. Management changes at senior levels often affect investor confidence and may have a short-term impact on stock shares may be under pressure after Goldman Sachs sold more than 1.77 lakh shares through a block deal. The total deal size was Rs 48 crore, with the shares sold at a price of Rs 2,700.6 PumpsThough the listing is expected on June 20, market participants will watch Oswal Pumps closely. Its IPO received strong demand across all investor categories, and the grey market premium has hinted at a positive listing. Final price movement on debut will give an indication of investor confidence in the these updates, markets may see stock-specific action even as broader cues remain uncertain. advertisement
Economic Times
4 days ago
- Business
- Economic Times
Asian Paints shares in focus as ICICI Prudential buys stake worth Rs 1,876 crore from Reliance
Asian Paints shares will be in focus on Tuesday after ICICI Prudential Mutual Fund acquired 85 lakh shares of the company in a block deal worth Rs 1,876 crore. ADVERTISEMENT Mukesh Ambani-led Reliance Industries sold the shares through its affiliate Siddhant Commercials Private Limited at Rs 2,207 per share. Asian Paints stock closed Monday's session at Rs 2,243.65, up 1.28% or Rs 28.35. This comes just days after Reliance sold a 3.6% stake in Asian Paints to SBI Mutual Fund in a separate block deal worth Rs 7,704 crore—one of India's largest bilateral transactions. That deal was executed at Rs 2,201 per share. Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months Reliance has been gradually monetising its long-term stake in Asian Paints, held via Siddhant Commercials. The investment, held for nearly 17 years, has now delivered a return of nearly 23 investor interest, Asian Paints shares have been under pressure, falling over 20% in the past year and down 3% so far in 2025. ADVERTISEMENT In the March quarter, the company reported a sharp 45% year-on-year drop in consolidated net profit to Rs 692 crore, compared to Rs 1,257 crore a year earlier. Revenue from operations also declined 4% to Rs 8,330 on the results, Managing Director and CEO Amit Syngle said: ADVERTISEMENT 'The weak demand conditions prevalent for the past few quarters continued to affect the paint industry even in the last quarter of the financial year. The demand for decorative coatings was only marginally better than in the third quarter.' According to Trendlyne, the average target price for Asian Paints is Rs 2,282, indicating a modest upside of around 2% from current levels. Among 35 analysts tracking the stock, the consensus rating remains 'Sell'. ADVERTISEMENT On the technical front, the Relative Strength Index (RSI) stands at 42.5 — below the overbought threshold of 70 but not yet in oversold territory (below 30). Meanwhile, the MACD is at 30.4 and remains below both its signal and center lines, signalling a strong bearish trend. Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
13-06-2025
- Business
- Mint
Oswal Pumps IPO Day 1 Live: Check GMP, subscription status, review. Should you apply or not?
Oswal Pumps IPO: The initial public offering (IPO) of Oswal Pumps Ltd begins today (Friday, June 13) and will close on Tuesday, June 17. On Thursday, it raised ₹ 416.2 crore from anchor investors just a day before its share sale opened to the public for subscriptions. Among the anchor investors are ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, Aditya Birla Sun Life MF, Quant MF, Societe Generale, Edelweiss Life Insurance, BNP Paribas, the Paris-based asset manager Amundi, and the financial services firm Capital Group, as per a circular posted on BSE's website. Oswal Pumps IPO price band has been set between ₹ 584 and ₹ 614 per share for its total initial public offering of ₹ 1,387 crore. Investors can place bids for a minimum of 24 equity shares and in multiples of 24 shares thereafter. The offering will be conducted via the book-building method, where a maximum of 50% of the net offer will be reserved for qualified institutional buyers on a proportionate basis, at least 15% will be allocated to non-institutional bidders, and a minimum of 35% will be set aside for retail individual bidders. Oswal Pumps started its operations in 2003 by producing low-speed monoblock pumps and has since expanded its production to include grid-connected submersible pumps and electric motors. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, as well as electric motors, including induction and submersible motors, along with solar modules, and sells these products under the 'Oswal' brand. In FY24, Oswal Pumps' revenue from operations surged by 97% to ₹ 758.6 crore, up from ₹ 385 crore in the previous year, while profit climbed to ₹ 97.66 crore from ₹ 34.20 crore. Subscription for the public issue will open at 10:00 IST during Friday's deals. As per BP Equities, the company has notably decreased its debt-to-equity (D/E) ratio from 2.1x in FY22 to 0.4x in FY24, while the ratio for 9MFY25 is at 0.9x. The rise in debt was primarily attributed to a significant increase in short-term financing. Nevertheless, despite the debt increase, financial comfort remains intact, as evidenced by a robust growth in its interest coverage ratio, which improved from 4.6x to 11.2x between FY22 and 9MFY25. The valuation of the issue stands at a price-to-earnings (P/E) ratio of 21.2x at the upper price band based on FY25 earnings (annualized), making it relatively more affordable compared to its competitors. Taking all these compelling aspects into account, they suggest a "SUBSCRIBE" recommendation for this issue. SBICAP Securities noted that the firm has an order book amounting to ₹ 1,100 crore, which is approximately 0.8 times its annualized revenue for 9MFY25, along with an extra bidding pipeline of around ₹ 3,200 crore that suggests good growth potential. However, a challenge for the business is its reliance on government contracts and potential delays in cash flow. The brokerage has advised investors to SUBSCRIBE to the issue for a long-term investment perspective. Oswal Pumps IPO GMP today is +71. This indicates Oswal Pumps share price was trading at a premium of ₹ 71 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Oswal Pumps share price is indicated at ₹ 685 apiece, which is 11.56% higher than the IPO price of ₹ 614. According to the recent seven sessions of grey market activity, the current IPO GMP is showing an upward trend and is anticipated to have a robust listing. The minimum GMP is ₹ 0.00, and the maximum GMP is ₹ 88, as noted by experts from 'Grey market premium' indicates investors' readiness to pay more than the issue price. 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.
Time of India
04-06-2025
- Business
- Time of India
Which mutual funds are scoring high on value, quality and momentum factors: Insights from Share.Market's MF scorecard
Live Events Mutual fund houses like Nippon India Mutual Fund, HDFC Mutual Fund , ICICI Prudential Mutual Fund, and Franklin Templeton Mutual Fund emerged as the most consistent performers across fund categories. PPFAS Mutual Fund 's two equity funds also stood out for their consistent performance, with a strong focus on Quality and Value the other hand, most of the funds of quant AMC also score 'high' on performance consistency, their funds seem to have significantly higher risk than peers in the respective categories, according to CRISP Mutual Funds on balanced factor exposure yields results, AMCs like ICICI Prudential Mutual Fund, SBI Mutual Fund , and Nippon India Mutual Fund demonstrated strong performance consistency without extreme tilt towards a single investment style, highlighting the effectiveness of balanced strategies, stock selection, and asset allocation Also Read | Smallcap mutual funds emerge as top performers in May with average return of 8%. Opportunity or time for caution? Based on value & momentum styles outperformance, funds with high exposure to Value and Momentum investment styles outperformed across most categories over the past five years, the scorecard the Large & Midcap Funds category, approximately 56% of the funds categorised as high on value style are also high on consistency, and 22% are 'high' on momentum. In the ELSS category, around 55% of the funds with 'high' performance consistency had a 'high' score on value style, and 45% had a 'high' score on core categories, such as flexicap and large cap, have also witnessed a similar trend, with the majority of 'high' consistency performers being 'high' on value and/or momentum investment report also highlights that there are instances of funds that, despite maintaining 'High' exposure to styles that have driven performance over the last 5 years, i.e. High Value and/or High Momentum, have not been able to translate this into strong Consistency scores. This highlights the fact that favourable style factors alone do not guarantee top-tier Read | Should you consider starting SIP or lumpsum in a momentum index fund right now? 'Investors today are overwhelmed with data, but much of it stops at historical returns or risk-adjusted ratings—often leaving them with limited information for investment decision making. At we believe investors deserve more. With our CRISP Mutual Funds Scorecard, we go beyond past performance to offer deeper, actionable insights into how their money is truly being managed. This initiative reflects our commitment to empowering investors with a clearer, more holistic view of mutual fund performance,' said Ujjwal Jain, CEO, (PhonePe Wealth) released the inaugural edition of its 'CRISP Mutual Funds Scorecard' for the quarter ending March 2025 (data considered is for the period April '20 to March '25) CRISP Mutual Funds Scorecard is a quarterly, data-driven evaluation of mutual funds across categories and AMCs, offering investors a comprehensive view of performance, risk, and investment style.
