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Company's total market cap is more than Rs 1.5 lakh crore. The question still lingers about Jio's playbook of disrupting the sector it enters.
IPO market has a lot going on but the biggest eye catcher is still Jio. Since its listing one news after the other has impacted the share prices. Now, JFSL has been removed from all the indices of Sensex and BSE. In AGM of Reliance it was told that Jio will make a move in the Insurance sector. Also for AMC space, JFSL has entered into a joint venture with BlackRock. After listing, the stock took a beating but now it has recovered and on Friday it is trading at Rs 243 per share and is up by 4.13% for the day. The company’s total market cap is more than Rs 1.5 lakh crore. The question still lingers about Jio’s playbook of disrupting the sector it enters. This is not easy to do in the financial sector which is filled with lot of regulations and scrutiny.
Coming to the IPOs that are open for subscription. One IPO is open on the main board and that is Rishab Instruments. The price band for the IPO is Rs 418 too Rs 441 per share. Today is the last day for IPO. The company is looking to raise Rs 490.78 crore but only Rs 75 crore out of that is fresh issue. By the time of writing this story it was subscribed more than 7 times. The company is in the business of Industrial Control Products as well as Test and Measuring Instruments.
Three IPOs are active on SME Board.
The first one is Basilic Fly Studio. It has a price band of Rs 92-Rs 97 per share. The IPO will remain open till 5th September and company is looking to raise Rs 66.35 crore from the IPO. Out of that Rs 60.35 crore is a fresh issue. By the time of writing this story, the IPO got subscribed more than 13 times.
The second is Pramara Promotions. It has a price of Rs 63. The IPO will remain open till 5th September and the company is looking to raise Rs 15.27 crore from the IPO. All of it will be a fresh issue. By the time of writing this story, the IPO got subscribed more than 17%.
Third IPO on SME board is Saroja Pharma Industries. It has a price of Rs 84. The IPO will remain open till 5th September and the company is looking to raise Rs 9.11 crore from the IPO. All of it will be a fresh issue. By the time of writing this story, the IPO got subscribed more than 1.54 times.