Secondary Market Update:
- The equity markets gained strength thrice, with Nifty and Sensex gaining by 3.60% and 3.35% respectively in June on back of strong inflows from foreign institutional investors (FIIs), robust corporate balance sheets, moderating inflation and growth picking up coupled with expectations of a normal monsoon season, all of which bolstered the sentiment of market participants.
- In June 2023, FPIs invested Rs. 56,258 Crores in the Indian market including equities, debt, debt-VRR, and hybrid. This was due to strong buying in equities. This marks the fourth consecutive month of net buying by FPIs in Indian stocks. From Jan, 2023 to June 2023, the overall market has seen an inflow of Rs. 93,349 Crores from FPIs.
- The month saw some huge block deals in stocks like Adani Group-backed stocks, Shriram Finance, Delhivery, HDFC AMC, Timken India, and Kalyan Jewelers among others.
- The Nifty 500 index companies clocked profit of Rs. 11.1 lakh Crore in FY2023, a rise of 8.8% over FY2022 earnings of Rs. 10.2 lakh Crore
Primary Market Update:
There was 1 main board IPO in June, 2023 of IKIO Lightening Limited against 1 main board IPO in May, 2023. However, there were 6 SME IPOs in June, 2023 as against 2 SME IPOs in May, 2023.
IKIO Lightening Limited:
|
About |
Incorporated in 2016, IKIO Lighting Limited stands as one of the leading ODM manufacturers and end-to-end solutions providers in India for LED lighting, switches, and RV components. Catering to brands in India and abroad. |
|
Funds Utilization |
The Company proposes to utilize the Net Proceeds towards the Repayment in full or part, of certain borrowings availed by the Company and its Subsidiaries on a consolidated basis, Investment in the wholly owned Subsidiary, IKIO Solutions Private Limited, for setting up a new facility at Noida, Uttar Pradesh, and for General corporate purposes. |
|
IPO Performance |
The company delivered a strong listing of 38% over its issue price at Rs 285. The Rs 607 Crore IPO had fixed a price band of Rs 270-285 apiece. The issue was oversubscribed by more than 66.30 times. The company is having Market Capitalization of Rs 3173 Crores and an EV/EBITDA multiple of 41.3. |
Funds Mobilization by Corporates (Rs. In Crore)
|
Particulars |
March-23 |
April-23 |
|
I. Equity Issues |
4,842 |
7,816 |
|
a. IPOs (i+ii) |
995 |
1,110 |
|
i. Main Board |
567 |
931 |
|
ii. SME Platform |
428 |
179 |
|
b. FPOs |
0 |
0 |
|
c. Equity Rights Issues |
2,070 |
871 |
|
d. QIPs/IPPs |
500 |
1,000 |
|
e. Preferential Allotments |
1,277 |
4,835 |
|
II. Debt Issues |
92,444 |
53,539 |
|
a. Debt Public Issues |
485 |
2,036 |
|
b. Private Placement of Debt |
91,958 |
53,426 |
|
Total Funds Mobilized (I+II) |
97,286 |
63,278 |
Acknowledgements:
RBI Bulletin (www.bulletin.rbi.org.in), SEBI (www.sebi.gov.in), NSE (www.nseindia.com), BSE (www.bseindia.com)
Disclaimer:
This material has been prepared by the personnel in Vora Corporate Finance which is Investment Banking arm of Vora Management Consultancy Private Limited and looks after Mergers & Acquisitions (M&A), Private Equity (PE), Fund Raising, Debt syndication and Valuations and is based out of Ahmedabad, Gujarat, India. Any views or opinions expressed herein are solely that of individual authors and may differ from view of Vora Management Consultancy Private Limited. This material is proprietary to Vora Management Consultancy Private Limited and is for your personal use only. Any distribution, copy, reprints or forward to others is strictly prohibited.
This material captures the information based on information available in the public domain, public announcements and sources believed to be reliable. Analysis contained herein is based on publicly available information and appropriate assumptions. This material is intended merely to highlight market developments and is not intended to be comprehensive and does not constitute strategic, investment, legal or tax advice. In no event Vora Management Consultancy Private Limited be liable for any use by any party or for any decision made or action taken by any party in reliance upon, or for any inaccuracies or errors in, or omissions from, the information contained herein and such information may not be relied upon by you for evaluating any transaction.
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