BSE Sensex went up by 1.74% to close at 52,843 in June 2021. Nifty 50 closed at 15,722 higher by 0.89% from 15,583 in May closing.
Foreign Portfolio Investors (FPIs) invested Rs. 17215 Crore in the Indian equity markets in the month of June.
Amongst the BSE indices, few of them showed a decrease while rest increased in the month of June. Amongst the indices Information Technology (9.25%) and Teck (7.89%) were best performers whereas Bankex (-2.47%) and Energy (-2.26%) were the worst performers.
Information Technology and Tech companies have shown strong revenue growth momentum after bottoming out in Q1 2021. This along with productivity gains and software export growth means that PAT for these sectors is likely to be healthy reflecting in its market performance.
Primary market Update:
There were 4 main board IPOs of Sona BLW Precision Forgings Limited, Shyam Metalics and Energy Limited, Dodla Dairy Limited and Krishna Institute of Medical Sciences Limited in June 2021 as against no main board IPO in May 2021. There were 3 SME IPOs of Adeshwar Meditex Limited, Times Green Energy (India) Limited and Navoday Enterprises Limited in June 2021 as against no SME IPO in May 2021.
Initial Public Offers:
Krishna Institute of Medical Sciences (KIMS):
Krishna Institute of Medical Sciences (KIMS) is a corporate healthcare groups in Andhra Pradesh and Telangana. It provides multi-disciplinary integrated healthcare services, with a focus on primary secondary & tertiary care in Tier 2-3 cities. Its IPO had a price band of Rs.815-825 per share. Company raised Rs.2144 Crore through the IPO with a combination of fresh issue of Rs.200 Crore and an offer for sale (OFS) by existing shareholders. IPO was subscribed 3.86 times and it values KIMS Hospitals at a PE multiple of 26 and EV/EBITDA multiple of around 19. 75% of the proceeds from the fresh issue will be used for debt repayment.
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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