Powerica, Sai Parenteral IPOs to open next week
The primary market pipeline remains active, with Powerica and Sai Parenteral set to open their initial public offerings (IPOs) next week, even as recent issues have seen mixed investor response. Both issues will open for subscription on March 24 and close on March 27. Powerica, an integrated power solutions provider, has set its price band at ₹375–395 per share for its IPO, comprising a ₹700-crore fresh issue and a ₹400-crore OFS by promoter entities. The company manufactures diesel generator sets and has a long-standing association with Cummins India. Meanwhile, Sai Parenteral has fixed a price band of ₹372–392 per share for its ₹409-crore IPO. The Telangana-based company is a pharmaceutical formulations player with a presence in branded generics and contract development and manufacturing (CDMO) services for domestic and global markets.
GSP Crop Science IPO subscribed 1.61x
The IPO of GSP Crop Science was subscribed 1.61 times on the final day of bidding. The issue received bids for 14.36 million equity shares against 8.95 million shares on offer, as per exchange data. The ₹400-crore IPO of GSP Crop, an agrochemical company, comprised a ₹240-crore fresh fundraise.
Powerica, Sai Parenteral IPOs to open next week
The primary market pipeline remains active, with Powerica and Sai Parenteral set to open their initial public offerings (IPOs) next week, even as recent issues have seen mixed investor response. Both issues will open for subscription on March 24 and close on March 27. Powerica, an integrated power solutions provider, has set its price band at ₹375–395 per share for its IPO comprising a ₹700-crore fresh issue and a ₹400-crore OFS by promoter entities. The company manufactures diesel generator sets and has a long-standing association with Cummins India. Meanwhile, Sai Parenteral has fixed a price band of ₹372–392 per share for its ₹409-crore IPO. The Telangana-based company is a pharmaceutical formulations player with a presence in branded generics and contract development and manufacturing (CDMO) services for domestic and global markets.
GSP Crop Science IPO subscribed 1.61x
The IPO of GSP Crop Science was subscribed 1.61 times on the final day of bidding. The issue received bids for 14.36 million equity shares against 8.95 million shares on offer, as per exchange data. The ₹400-crore IPO of GSP Crop, an agrochemical company, comprised of ₹240 crore fresh fund raise.
BSE arm launches long-short, inverse indices
BSE Index Services, an arm of BSE, has announced the launch of BSE Long-Short and BSE Inverse indices, a suite of products aimed at capturing hedged equity strategies. The new offerings include two inverse indices—tracking the opposite returns of the BSE 200 and BSE 150 Midcap indices—and two composite long-short indices that combine long exposure to the BSE 500 with 20 per cent inverse positions in either the BSE 200 or BSE 150 Midcap.
