Zomato’s dream run on D-Street may hit a bump or two
Zomato recently raised ₹8,500 crore in funding through a qualified institutional placement (QIP) for scaling up its quick commerce business infrastructure and towards marketing. The overall surge in valuations and visibility prompted its rival Swiggy too to get listed in November.
Ketan Parekh’s in regulatory crosshairs, again
The Sebi order said 22 individuals and entities were involved in the front-running scheme. Front running is an illegal practice of purchasing a stock based on unpublished information of a large transaction that could move prices.
Six companies get Sebi nod for IPOs
IValue Infosolutions’ IPO is solely an offer for sale of 1.87 crore shares. Quality Power Electrical’s IPO consists of ₹225 crore and OFS of 1.2 crore shares. Fabtech Tech’s is entirely a fresh issue of 1.2 crore shares.
Bajaj Finserv and Bajaj Finance soar on rating upgrades
Bajaj Finserv surged 7.9%, with the brokerage rating the stock a ‘buy’ with a price target of ₹1,930. This implies an upside of 13.6% over Thursday’s closing price of ₹1,700.