Core Insights - The primary market is set for an active period with five IPOs scheduled between November 11 and 14, aiming to raise over Rs 10,000 crore, indicating strong fundraising activity [5][6] Mainboard IPOs - **PhysicsWallah**: An edtech company planning to launch a Rs 3,480 crore IPO on November 11, with shares priced between Rs 103–109. The funds will be used for technology infrastructure, new learning centers, and acquisitions [5][6] - **Tenneco Clean Air India**: A subsidiary of Tenneco Inc., this company is set to offer a Rs 3,600 crore IPO from November 12 to 14, entirely through an offer for sale. The shares are priced between Rs 378–397, with a grey market premium of about 24% [6] - **Emmvee Photovoltaic Power**: A solar panel manufacturer aiming to raise Rs 2,900 crore with bids accepted from November 11 to 13, priced in the Rs 206–217 band [3][6] SME IPOs - **Mahamaya Lifesciences**: A specialty pharmaceutical firm opening its issue on November 11, aiming to raise Rs 70.44 crore at a price band of Rs 108–114 [4][6] - **Workmates Core2Cloud Solution**: Specializing in cloud services and cybersecurity, this company plans to raise Rs 69.84 crore with shares priced between Rs 200–204, also opening on November 11 [4][6] Market Dynamics - The upcoming IPOs span various sectors including education, clean energy, automotive technology, and pharmaceuticals, reflecting a diverse investment landscape [4][5][6]

Mainboard IPOs - PhysicsWallah is launching an IPO worth Rs 3,480 crore with a price band of Rs 103–109 per share, opening on November 11 and closing on November 13, aiming to enhance its technology platform and expand learning centres [1][8] - Tenneco Clean Air India, a subsidiary of Tenneco Inc., is offering an IPO of Rs 3,600 crore entirely as an offer for sale, with a price band of Rs 378–397 per share, opening on November 12 and closing on November 14 [2][8] - Emmvee Photovoltaic Power is set to open its IPO of Rs 2,900 crore on November 11, priced between Rs 206–217 per share, focusing on India's clean energy sector [5][8] SME IPOs - Mahamaya Lifesciences plans to raise Rs 70.44 crore through its IPO, opening on November 11 and closing on November 13, with a price band of Rs 108–114 per share [6][9] - Workmates Core2Cloud Solution is launching an IPO of Rs 69.84 crore, opening on November 11 and closing on November 13, with a price range of Rs 200–204 per share, specializing in cloud computing and cybersecurity [7][9] Market Overview - The upcoming week will see five IPOs, three from the mainboard and two from the SME segment, with cumulative fundraising exceeding Rs 10,000 crore, testing market liquidity and sentiment [8]

Core Points - Phoenix Education Partners, Inc. will host a conference call on November 20, 2025, to discuss its fourth quarter and fiscal year results ending August 31, 2025 [1] - The financial results will be released on the same day after market close [1] Company Overview - Phoenix Education Partners, Inc. is the parent company of the University of Phoenix, which specializes in online education for working adults [3] - Founded in 1976, the University of Phoenix aims to provide access to higher education opportunities that help students achieve professional goals and improve organizational performance [3] Initial Public Offering (IPO) - The company announced the closing of its initial public offering of 4,250,000 shares at a public offering price of $32.00 per share [6][7] - The shares were offered by certain existing shareholders, and the underwriters were granted a 30-day option to purchase additional shares [8]

Core Viewpoint - Ripple has confirmed it has no plans for an initial public offering (IPO) in the foreseeable future, citing a strong financial position and the absence of a need for external funding following a recent $500 million funding round [1][2][3]. Financial Position - Ripple recently raised $500 million, led by affiliates of Fortress Investment Group, Citadel Securities, and Pantera Capital, which valued the company at $40 billion [2]. - The company is well-capitalized with billions in reserves, allowing it to avoid the need for external financing [2][3]. Strategic Caution - Ripple is adopting a cautious approach regarding the US market, influenced by potential regulatory changes and the upcoming 2026 midterm elections [4][5]. - The company aims to remain private to avoid the transparency and regulatory scrutiny associated with public listings [3]. Political Landscape - The outcome of the 2026 midterm elections could significantly impact the regulatory environment for cryptocurrency, prompting Ripple to exercise strategic caution [5]. - The Republican Party currently holds a 53-47 majority in the Senate, needing a net gain of four seats to regain full control after the elections, although this outcome is uncertain [5][6].

IPO Overview - The IPO size is Rs 3,600 crore, entirely an offer for sale (OFS) of 9.07 crore equity shares, with proceeds going to existing shareholders, primarily global promoters [1][14] - The price band is set at Rs 378–397 per share, with a minimum bid of 37 shares per lot, requiring an investment of Rs 14,689 at the upper end [2][14] - The grey market premium (GMP) is around Rs 95 per share, indicating a potential listing price of Rs 490–495 if market sentiment remains stable [4][14] Company Background - Tenneco Clean Air India is a subsidiary of Tenneco Inc, a US-based global automotive supplier, with promoters holding 97.25% of equity, which will reduce to 74.79% post-issue [5][14] - The company manufactures clean air and powertrain systems, including catalytic converters, diesel particulate filters, mufflers, and exhaust pipes, serving leading automotive OEMs [6][14] - It also designs shock absorbers, struts, and advanced suspension systems through its Advanced Ride Technologies division, contributing to compliance with emission norms like Bharat Stage VI [7][14] Manufacturing and Operations - Tenneco Clean Air India operates 12 manufacturing facilities across seven Indian states and one union territory, ensuring localized production for global customers [8][14] Financial Performance - In FY25, revenue decreased by 11% to Rs 4,931 crore, while profit after tax increased by 33% to Rs 553 crore, attributed to improved operational efficiency [9][14] - EBITDA was Rs 815 crore, with a margin of 16.7%, and the profit after tax margin improved to 11.3% [9][14] Market Positioning - The company is one of India's leading suppliers of emission control and powertrain solutions, benefiting from global R&D integration with its parent company, Tenneco [10][14] Use of Proceeds - As the IPO is a pure OFS, the company will not receive any funds, but listing on Indian exchanges will enhance brand visibility and provide liquidity [11][14] Valuation - At the upper end of the price band, the company commands a market capitalization of approximately Rs 16,000 crore [12][14]

Company Overview - Elauwit Connection, Inc. is a national managed services provider that specializes in designing, building, and operating premium broadband and property-wide WiFi networks for multifamily and student housing communities [5] - The company focuses on service quality, reliability, and measurable asset value, enabling property owners to provide always-on connectivity as a modern amenity and a source of recurring net operating income (NOI) growth [5] Initial Public Offering (IPO) Details - Elauwit announced the closing of its initial public offering, selling an aggregate of 1,667,000 shares of common stock at a price of $9.00 per share, resulting in gross proceeds of approximately $15.0 million before deductions [1] - The shares began trading on the Nasdaq Capital Market under the ticker symbol "ELWT" on November 5, 2025 [2] - Craig-Hallum Capital Group LLC acted as the sole bookrunner for the offering, while Harter Secrest & Emery LLP and Pryor Cashman LLP served as legal counsel for the company and underwriters, respectively [2] Regulatory Filings - A registration statement on Form S-1 related to the common stock was filed with the U.S. Securities and Exchange Commission (SEC) on August 29, 2025, and became effective on November 2, 2025 [3] - The offering was conducted solely by means of a prospectus, which can be accessed through the SEC's website or obtained from Craig-Hallum Capital Group LLC [3]

CONCLUDED Stock Market News From Nov. 6, 2025: Dow Falls After New Labor Market Data Last Updated: 2 hours ago What Shutdown? The IPO Window Is Still Open for Some Companies By Paul R. La Monica The government shutdown has slowed down the IPO market. But the fact that the Securities and Exchange Commission's operations have been curtailed while Washington is essentially in dark mode hasn't halted stock market debuts entirely. Some companies that had already filed paperwork before the shutdown have been able ...

Investment bankers are proposing a valuation of as much as $170 billion for Jio Platforms Ltd., according to people familiar with the matter, ahead of what could be a record-breaking initial public offering for Reliance Industries Ltd.’s wireless carrier. A valuation that size would place Jio among the biggest two or three companies in India by market capitalization, ahead of fellow telecom firm Bharti Airtel Ltd., which is valued at about ₹12.7 lakh crore ($143 billion). Reliance Industries, controlled by ...

Core Viewpoint - State Bank of India (SBI) and Amundi India Holding are initiating an Initial Public Offering (IPO) for SBI Funds Management Limited (SBIFML), with SBI planning to divest 6.3007% and Amundi 3.7006% of their stakes, aiming for completion by 2026 [1][2][3]. Group 1: Company Overview - SBI currently holds a 61.91% stake in SBIFML, while Amundi holds 36.36% [3]. - SBIFML is the largest asset management company in India, with a market share of 15.55% and managing Quarterly Average Assets Under Management (QAAUM) of ₹11.99 trillion as of Q2 FY2025-26 [6]. Group 2: IPO Details - The IPO will involve a total of 10.0013% stake, equating to 5,08,90,000 shares to be listed [2]. - SBI Chairman stated that the IPO is timely due to SBIFML's strong performance and market leadership, aiming to maximize value for existing stakeholders and broaden market participation [3]. Group 3: Strategic Importance - The IPO is expected to enhance public visibility and reinforce SBIFML's position in the asset management industry [4]. - The partnership between SBI and Amundi is highlighted as a key factor in SBIFML's success, leveraging SBI's distribution network and Amundi's global expertise [4].

Core Viewpoint - Jio Platforms Ltd. is preparing for a potential initial public offering (IPO) with a proposed valuation ranging from $130 billion to $170 billion, which could position it among the largest companies in India by market capitalization [1][6]. Group 1: Valuation and Market Position - Investment bankers are proposing a valuation for Jio that could place it among the top two or three companies in India, ahead of Bharti Airtel Ltd., which is valued at approximately Rs 12.7 trillion ($143 billion) [1][6]. - Reliance Industries, controlled by Mukesh Ambani, has a market capitalization of about Rs 20 trillion [1][6]. Group 2: IPO Details and Regulations - The Jio IPO is expected to be Reliance's first public offering of a major business unit since Reliance Petroleum Ltd.'s debut in 2006 [2][6]. - The IPO could raise over $6 billion, although this amount may be lower due to changes in Indian listing regulations, which require companies with a post-listing market capitalization exceeding 5 trillion rupees to offer shares worth at least 150 billion rupees and dilute only 2.5% of equity [5][6]. - If Jio achieves the top-end valuation proposal, the share offering would amount to approximately $4.3 billion [5][6]. Group 3: Subscriber Base and Revenue - As of the end of September, Jio had approximately 506 million subscribers, with an average revenue per user (ARPU) of Rs 211.4 [6]. - In comparison, Bharti Airtel had about 450 million subscribers and an ARPU of Rs 256 [6].