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Shares of Brainbees Solutions, parent company of FirstCry, fell nearly 3% to Rs 624 on the BSE following its June quarter results. The company reported a narrower consolidated net loss of Rs 57 crore for the quarter ended June 30, 2024, compared to Rs 90 crore in the same period last year. Revenue from operations increased by 17% to Rs 1,652 crore from Rs 1,407 crore YoY.

In recent years, the assets under management (AUM) in this sector have grown at 15-20% annually, with projections indicating a rise to $1.8 trillion within 4-5 years, reflecting a 13-14% CAGR. This growth is driven by a shift in asset allocation, as investors increasingly move from traditional investments like fixed deposits, gold, and real estate to more dynamic options such as AIFs, REITs, INVITs, private equity, and cryptocurrencies.

Promoters held 63.01 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 22.42 per cent and 5.89 per cent, respectively.

The IPO will be conducted through a book-building process, with Socradamus Capital Private Limited serving as the sole book-running lead manager. Bigshare Services Private Limited will act as the registrar to the offer.

A total of 32,140 shares changed hands on the counter till 01:54PM (IST)

Rana Gupta of Manulife Investment Management foresees a gradual economic recovery, with telecom and real estate-linked consumption sectors appearing promising. He emphasizes the influence of domestic flows and delineates investment themes including digitisation, deglobalisation, decarbonisation, demography, and deficit reduction, noting the improved fiscal condition and potential return of FII flows.

The stock quoted a 52-week high price of Rs 6442.65 and a 52-week low of Rs 4518.35.

The Nifty index has shown a bearish trend in September, recording negative returns in six out of the last 10 years. This is largely due to selling by Foreign Institutional Investors, though Domestic Institutional Investors have often stepped in to stabilize the markets. Despite this, Nifty managed positive closings in certain years, including 2023.

The IPO of Gala Precision Engineering, which opened today, was oversubscribed within an hour, showing strong demand from retail and non-institutional investors. The employee-reserved category was highly subscribed, but qualified institutional buyers did not place any bids yet. The proceeds will be used for new facility establishment, equipment procurement, debt repayment, and corporate purposes.

The parties will also have the flexibility to participate in tenders and project bids either jointly or separately.