Stocks in Focus on December 10: Star Health, Metro Brands IPO, HCC, Bajaj Electricals, Mirza International, Broking Houses and many more

Domestic equity benchmarks witnessed modest gains on Thursday, December 9, 2021. The Sensex closed above 58,800 while the Nifty settled above the 17,500 level. The BSE Sensex climbed 157.45 points, or 0.27 per cent to end at 58,807.13. The NSE Nifty also rose 47.10 points, or 0.27 per cent, to finish at 17,516.85. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Friday, December 10, 2021. List of such five stocks:

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Listing + IPO Update: Star Health IPO Listing + Metro Brands IPO + Shriram Properties IPO + C.E. Info Systems IPO + RateGain Travel IPO

Star Health IPO Listing: Shares of Star Health Insurance will be listed on NSE and BSE today. The initial public offering (IPO) of Star Health had been subscribed 79% on the last day of the offer. The issue price for the IPO worth Rs 7,249 crore was Rs 900 per share.

Metro Brands IPO: Metro Brands Ltd, a leading footwear retailer, will launch its initial public offering (IPO) for subscription today, i.e., on Friday, December 10, 2021. The three-day initial share sale of the footwear retailer will close on Tuesday, December 14, 2021. The company has fixed a price band of Rs 485-500 per equity share as it has plans to raise up to Rs 1,368 crore through the public issue. The issue comprises a fresh issue of shares worth Rs 295 crore and an offer for sale (OFS) of up to 2,75,32,574 equity shares worth Rs 1,073 crore by promoters and other shareholders. A retail-individual investor can apply for a minimum of 30 equity shares and in multiples of 30 shares thereafter. Besides, the company has garnered Rs 410 crore on December 9, 2021, from anchor investors, ahead of its initial public offering that will open for subscription on December 10, 2021. Goldman (10.5%), Abu Dhabi 96.6%), ICICI Pru (6.6%), HDFC Fund (6.5%), Kotak Emerging (6.6%), SBI Life (4.9%), Kotak Fund (4.9%) among others were the anchor investors.

Shriram Properties IPO: The initial public offering of Shriram Properties, a leading real estate developer and part of Shriram Group, was subscribed 1.63 times (89%) on Thursday, the second day for bidding. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.12 times, while the Non Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 0.18 times and 8.35 times, respectively. The portion reserved for employees was subscribed 0.78 times. The three-day initial share sale will conclude today. The price band for the public issue has been fixed at Rs 113-118 per share for its Rs 600-crore initial share sale. The initial public offering comprises a fresh issue of Rs 250 crore and an offer for sale of Rs 350 crore by investors. Investors can bid for a minimum of 125 equity shares and in multiples of 125 equity shares thereafter.

C.E. Info Systems IPO: The initial public offering (IPO) of C.E. Info Systems Limited, the operator of India's leading map and navigation services provider - MapmyIndia, was subscribed 2.2 times on Thursday, the first day for bidding for the issue. The Qualified Institutional Buyers (QIBs) portion was subscribed 0.46 times, while the Non Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 1.17 times and 3.28 times, respectively. The three-day initial share sale will conclude on Monday, December 13, 2021. The price band for the public issue has been fixed at Rs 1,000-1,033 per share. The company has plans to raise up to Rs 1,040 crore through an offer for the sale of existing shares. Investors can bid for a minimum of 14 equity shares and in multiples of 14 equity shares thereafter. The IPO is entirely an offer for sale of up to 10,063,945 equity shares by existing shareholders. 

RateGain Travel IPO: The initial public offering of RateGain Travel Technologies Limited, a distribution technology and Software-as-a-Service (SaaS) company, closed with 17.41 times subscription on Thursday, December 9, 2021. The Qualified Institutional Buyers (QIBs) portion was subscribed 8.42 times, while the Non Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 42.04 times and 8.08 times, respectively. The portion reserved for employees was subscribed 1.37 times. The company had fixed a price band of Rs 405-425 per equity share to raise up to Rs 1,336 crore. The IPO comprised a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares worth Rs 961 crore by promoters and existing shareholders. The retail investors were allowed to place bids for a lot of 35 Equity Shares and in multiples thereof.
                   

HCC: (Zee Business Exclusive). The creditors have chosen the Darwin Group's bid for the former Hindustan Construction Company (HCC) controlled Lavasa township and are likely to vote on the bid soon. Sources aware of the development exclusively informed Zee Business that the creditors in lieu of dues worth Rs 8,836 crore have opted for a plan of Rs 1,814 crore. Rs 1,466 crore, out of Rs 1,814 crore is the resolution amount. Banks will get Rs 929 crore out of Rs 1466 crore while Rs 250 crore will be invested to complete the project and Rs 440 crore has been fixed for settlement of claims of the home buyers. An amount of Rs 679 crore will be converted into a 6% Rupee term loan and Rs 250 crore has been fixed for secured NCD redemption. 

What will be the payment schedule? 

Schedule                                                            Amount (in Crore) 

Upfront Payment in 90 days                                  Rs 25 crore 

At the end of 15 months                                        Rs 70.26 crore 

At the end of 2 years                                             Rs 125 crore 

At the end of 3 years                                             Rs 250 crore 

At the end of 4 years                                             Rs 304 crore 

RERA buyers                                                        Rs 4 crore 

Home buyers' claims will end                               Rs 438.2 crore 

Secured NCD Redemption (After 9 Years)           Rs 250 crore 

How much money will go to which item? 

Item                                                  Amount (in Crore) 

Banks                                                Rs 1,466 crore 

Project                                               Rs 250 crore 

Working Capital                                 Rs 22.5 crore 

Repair                                                Rs 70 crore 

Environmental Clearance                  Rs 5 crore 

For Investment                           Rs 347.5 crore 

 Bajaj Electricals: The Board of Directors of the Company at its meeting held on December 9, 2021, authorised some of the directors and officials of the Company to review the corporate structure of the Company to unlock growth and value creation for all business segments ('Restructuring'). The Board, in the same Meeting, has also approved the formation of a wholly-owned subsidiary of the Company, which could provide a ready vehicle to enable the above Restructuring.

Mirza International: The Board of Directors of the Company is scheduled to meet today to consider and approve the Composite Scheme of Arrangement of RTS Fashions Private Limited, Mirza International Limited and Redtape Limited and their respective shareholders and creditors. RTS Fashions Private Limited is the ultimate holding company of Mirza U.K. Limited 

ICICI Securities/Motilal Oswal/Edelweiss/IIFL Securities/JM Financial: The Securities and Exchange Board of India (SEBI) today floated a consultation paper on algorithmic trading being done by retail investors to seek comments/views from various stakeholders, including market intermediaries and the public. SEBI defines algorithmic trading as any order that is generated using automated execution logic. All orders emanating from an API should be treated as an algo order and be subject to control by the stockbroker and the APIs to carry out Algo trading should be tagged with the unique algo ID provided by the Stock Exchange granting approval for the algo. Stockbroker needs to take the approval of all algos from the Exchange. Each Algo strategy, whether used by broker or client, has to be approved by Exchange and as is the current practice, each algo strategy has to be certified by Certified Information Systems Auditor (CISA)/ Diploma in Information System Audit (DISA) auditors. 

Interglobe/Spicejet: Directorate General of Civil Aviation has extended the suspension of scheduled international commercial flight operation till 31st of January next year. This ban shall not apply to international cargo operations and flights specifically approved by DGCA. However, international scheduled flights may be allowed on selected routes by the competent authority on case to case basis. 

United Spirits/Radico Khaitan/Globus Spirits: The Assam government has hiked the excise duty on liquor by 15% to compensate the losses to the state exchequer due to the reduction of value-added tax on petrol and diesel. The new rates will come into effect from December 10, 2021. However, beer and wine prices and cheap brands will remain the same as no additional taxes have been levied on these two beverages. 

Deepak Fertilisers: Smartchem Technologies Limited (STL), a 100% subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), has performed a ground-breaking ceremony and foundation stone laying of its Technical Ammonium Nitrate (TAN) complex at Gopalpur Industrial Park on December 9, 2021. The project at Tata Steel Industrial Park, Gopalpur is being built with an investment of Rs 2,200 crore and will have a capacity of 377 KTPA. The plant has the best-in-class technology from Casale, which will ensure that it is the safest plant with the lowest possible emission. The project is expected to be completed by August 2024, 50% of the engineering work is already completed and the piling work will begin from January 2022. 

BULK DEALS  

Sequent Scientific:  Infinity Holdings sold 1.47 crore shares at Rs 157.02/share. 
Go Fashion India: SBI MF bought 15 lakh shares at Rs 1,172/share. India Advantage Fund sold 15 lakh shares at the same price.   
IIFL Finance: Smallcap World Fund Inc bought 35.6 lakh shares at Rs 300/share. Hamblin Watsa Investment sold 1.04 cr shares at Rs 300.17/share.  
Lyka Labs: Algoquant Financials sold 3 lakh shares at Rs 173.24/share. 
Kalpataru Power Transmission:  ICICI Prudential MF bought 44.5 lakh shares at Rs 378/share. Kalpataru Properties sold 44.5 lakh shares at Rs 378/share.