The IPO is a combination of a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc.
Vinod Karki, Equity Strategist at ICICI Securities, highlights market trends with a focus on domestic cyclicals, defensives, and FPI buying behavior. He anticipates a tapering down of earnings growth from a low base, emphasizing the importance of maintaining valuations in the market. Karki points out that DIIs and FIIs being an equal footing in terms of net buying is keeping our markets relatively expensive .
ICICI Securities is bullish on Spandana Spoorthy Financial recommended buy rating on the stock with a target price of Rs 1200 in its research report dated April 30, 2024.