EQUIRUS CAPITAL REPORT
Equirus Capital sees strong growth across Indian real estate segments
Equirus Capital highlighted strong momentum in India’s real estate sector, with robust growth across residential, commercial, and hospitality. Bengaluru emerged as a global hub, offering affordable office rentals, cost-effective workforce, and the highest commercial space absorption worldwide.
Eldorado Agritech files DRHP with Sebi for Rs 1,000 crore IPO
Eldorado Agritech, maker of Srikar Seeds, has filed draft papers with SEBI to raise Rs 1,000 crore through an IPO. The issue includes a Rs 340 crore fresh issue and Rs 660 crore OFS. Proceeds will largely repay debt, with strong R&D, crop portfolio, and robust FY25 financial performance supporting growth.
Vikram Solar listing tomorrow, GMP hints at double-digit premium. Here's what to expect
Vikram Solar’s IPO, heavily subscribed at 56.4x, is set to debut on August 26 with a grey market premium of Rs 41. The solar module manufacturer, with 4.5 GW capacity, plans expansion into cell manufacturing and battery storage. FY25 revenue stood at Rs 3,423 crore, with strong EBITDA and PAT growth.
Vikram Solar IPO subscribed 6.2x on Day 3; GMP hints at 14% listing pop. Should you subscribe?
Vikram Solar’s Rs 2,079 crore IPO has drawn robust demand, with overall subscription at 6.17 times on Day 3, led by strong retail and NII interest. The grey market premium of Rs 48 hints at a 14.5% listing gain. Backed by rapid capacity expansion and strong domestic demand, analysts recommend subscribing despite current lower margins.
Vikram Solar IPO subscribed 4.56 times on day 2, GMP signals 14% listing pop. Should you subscribe?
Vikram Solar IPO: As of August 20, Vikram Solar’s IPO was commanding a grey market premium (GMP) of ₹48. Against the upper price band of ₹332, this translates to an estimated listing price of ₹380, indicating a potential 14.5% gain.
Vikram Solar IPO subscribed 1.52 times on Day 1; GMP at 18%. Should you apply? Check other key details
Vikram Solar IPO: According to market observers, Vikram Solar’s shares are currently trading at a grey market premium (GMP) of approximately 18% above the upper end of the issue price, which is Rs 332 per share. This suggests robust investor interest ahead of the company's stock market debut.
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Vikram Solar IPO opens for subscription; GMP at 16%. Should you apply?
Vikram Solar launched its Rs 2,079-crore IPO for subscription. The IPO includes a fresh issue and an offer for sale. The company expects to raise about Rs 2,079 crore. The IPO has reserved shares for QIBs, retail investors, and NIIs. Vikram Solar plans to expand capacity and diversify into solar cell manufacturing. SBI Securities recommends subscribing to the issue.
Vikram Solar raises Rs 621 cr from anchor investors ahead of IPO
Vikram Solar garnered Rs 621 crore from anchor investors before its IPO launch. Prominent institutional investors participated in this round. The IPO, valued at Rs 2,079 crore, opens for subscription soon. The company plans to use the funds for capital expenditure. Vikram Solar's revenue and profit increased significantly in fiscal year 2025.
M&B Engineering IPO subscribed 7x on day 3. Check GMP and other key details
M&B Engineering's IPO saw strong investor interest, being subscribed 6.9 times on its final day, driven by retail and non-institutional investors. The IPO price is set at Rs 366–385 per share, with the company planning to use the proceeds for expansion and debt repayment. Brokerages are positive about M&B's fundamentals, recommending a 'Subscribe for Long Term' approach.
M&B Engineering IPO subscribed 2.9 times as on day 2: Check GMP, price band, and other key details
M&B Engineering's IPO saw strong demand, fully subscribed by Day 2 with an overall subscription of 110%. Retail investors showed significant interest, subscribing 4.18 times their quota. The IPO price is set at Rs 366–385 per share, with proceeds aimed at capital expenditure and debt repayment. Brokerages are positive, citing the company's strong fundamentals and growth potential.
M&B Engineering IPO subscribed 66% on day 1: Check GMP, price band, and other key details
The IPO, open from July 30 to August 1, is priced in the range of Rs 366 to Rs 385 per share. At the upper end, M&B Engineering’s estimated market capitalisation stands at Rs 2,200 crore. Proceeds will go towards capex, debt repayment, and tech upgrades at its Sanand and Cheyyar facilities.
Crizac shares surge 8% after strong debut; Abakkus buys stake via bulk deal
Crizac extended its post-listing rally with shares rising nearly 8% on Thursday to Rs 330.65, marking a second day of gains. Strong investor interest followed a bulk deal where Abakkus Asset Manager bought over 36 lakh shares. The company debuted at a 14.7% premium on NSE, reflecting optimism around its fundamentals and long-term growth potential.
TCS expected to show marginal revenue growth in Q1 amid currency fluctuations
Tata Consultancy Services is projected to reveal a slight increase in dollar-denominated revenue growth for the June quarter, outperforming the previous quarter. Supported by a weaker dollar against the pound and euro, revenue is expected to rise by 1.2%. However, rupee-term revenue growth may be slower due to rupee appreciation, with a modest net profit increase anticipated.
Crizac shares extend gains on listing day, gain over 21% from issue price
Crizac share price performed well on its listing day. The stock saw a 21% gain over its IPO price. It debuted at Rs 281 on the NSE and Rs 272 on the BSE. The IPO was oversubscribed 63 times. Crizac is a B2B education platform specializing in international student recruitment. Analysts are bullish on the company's growth.
Suzlon Energy vs Inox Wind: Both underperforming in 2025, which one is better?
Suzlon Energy is leading India's wind energy sector, outperforming Inox Wind in project execution and financial stability. Suzlon's strong order book and net cash position highlight its financial flexibility. Profitability metrics also favor Suzlon, with higher ROE and ROCE. Investors are showing preference for Suzlon due to its ESG initiatives.
Crizac shares list at 15% premium over IPO price on BSE, NSE
Crizac shares debuted with a premium, listing at Rs 281 on NSE and Rs 272 on BSE, following a highly successful IPO that was oversubscribed 63 times. The B2B education platform, specializing in international student recruitment, saw strong investor demand. Analysts are optimistic about Crizac's growth, citing its financial performance and global reach.
IPO rush, block deals fuel two-fold jump in market fundraise
Fund mobilisation through bulk and block deals in the Indian equity market witnessed a sharp recovery in the June 2025 quarter, increasing by 118.9% sequentially. This surge was fueled by improved secondary market sentiment and robust foreign and domestic inflows. IPOs and rights issues also experienced significant growth, reflecting renewed investor confidence and companies' efforts to strengthen their balance sheets.
Crizac gears up for Rs 860-cr IPO on July 2, slashes OFS size
Student recruitment solution provider Crizac on Thursday said its Rs 860-crore initial public offering (IPO) will hit the capital markets for subscription on July 2.
Havells shares slide 5% on demand concerns for summer products. Should you invest?
Havells India shares: The company reported net revenue of ₹6,532 crore for the quarter, marking a 20.2% year-on-year rise from ₹5,434 crore in the corresponding quarter last year, driven by strong demand across product categories. Revenue also showed a notable sequential increase from ₹4,883 crore in Q3 FY25.
Auto stocks skid up to 28% in a year; muted Q4, FY26 outlook offers little hope. Here’s why
Auto stocks face headwinds despite Trump's tariff pause, with many underperforming expectations due to domestic economic concerns and muted Q4FY25 earnings. While some stocks like Eicher and TVS have shown resilience, brokerages anticipate earnings downgrades across the sector due to weak demand and plateauing margin expansion. Experts recommend stock-specific strategies, highlighting Maruti Suzuki, Ashok Leyland, and M&M as potential buys.
Climate tech startup GreenStitch raises $1.2 million from Equirus InnovateX Fund, others
GreenStitch, a climate tech startup, will use the funds to expand the team and strengthen its product offerings. Founded by Makwana and Arpit Samdani, the sustainability-focused software-as-a-service (SaaS) platform assists fashion and textile companies in achieving their sustainability goals.
SRF, Navin Fluorine shares rally 14% as refrigerant gas price increase
Shares of SRF and Navin Fluorine surged 14% on Thursday after a report highlighted a sharp rise in global refrigerant gas prices. Supply constraints for key gases like R32 and R125 are creating challenges for the HVAC industry.
Asian Paints Q3 result preview: PAT may surge 30% YoY on volume growth, benign input costs
Asian Paints Q3 result preview: Asian Paints is expected to report strong quarterly earnings with a 30% YoY rise in net profit and a 7.5% YoY increase in revenue. The company's domestic decorative paints business is likely to see a 9% growth in volume, driven by an extended festive season and strong demand in October and November. Asian Paints will also benefit from benign input costs, leading to an expansion in operating margin. Investors will closely monitor the margin trajectory, outlook for the decorative paints business, promotional spending trend, and raw material price trend.
Sebi ticks off bookrunners of EbixCash over disclosure rules
The regulator, in an 'administrative warning' to the five book-running lead managers Motilal Oswal Investment Advisors, Equirus Capital, ICICI Securities, SBI Capital Markets, and Yes Securities, accused them of neglecting proper disclosures in the draft red herring prospectus (DRHP) of EbixCash, said people aware of the development.
Harsha Engineers IPO to open Sep 14, price band set at Rs 314-330/Share
In the IPO, 50% of the shares will be reserved for qualified institutional buyers. Non-institutional bidders and retail individual bidders will be allotted 15% and 35%, respectively. Proceeds from the fresh issue of up to Rs 270 crore will be utilised for debt repayment, the company said.
Demand revival to help NBFCs post best quarter in two years
Microfinance loans overdue by over 30 days along with restructured loans are estimated to have declined 800 basis points to around 14% as of March 2022, after peaking at approximately 22% in September 2021, rating agency Crisil said. But it remains well above the pre-pandemic levels of 3%, Crisil said in May.
Concord Enviro Systems files IPO draft papers with Sebi
Proceeds from the fresh issue will be used for investment in the company's arm Concord Enviro FZE in relation to financing the construction of an assembly unit in Sharjah International Airport Free Zone, investment in subsidiary Rochem Separation Systems (India) for funding its working capital requirements, payment of debt and general corporate purpose.
Brokerages retain bullish views on ICICI after strong Q3 show
Brokerages have maintained a bullish view on ICICI Bank and raised target prices after the lender reported a 25% year-on-year rise in standalone net profit at ₹6,194 crore for the December quarter, beating estimates.
InCred Fin, Carnelian Capital among 5 in race for IDFC securities
The buyout will be beneficial for entities without a broking business.
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