look news india
Very big and explosive news is coming out from the Indian stock market and diplomatic tech world. The giant technology company ‘Kuku Tech’ invested by Mahendra Singh Dhoni (MS Dhoni), one of the most successful captains in the history of Indian cricket, is now all set to step on Dalal Street. The company is working very fast on its plan to launch its first public issue i.e. IPO to raise huge funds from the market. According to sources, Kuku Tech is preparing to raise around Rs 3,500 crore through this mega IPO, which has created a huge stir in the primary market as well as among veteran investors and fans of Thala.
Dhoni’s connection created huge panic in the primary market
Mahendra Singh Dhoni is not only known for his captaincy on the cricket field, but his predictions regarding diplomatic business and investment in startups are also considered very harsh. Dhoni’s stake in Kuku Tech and his initial investment have increased the credibility of this company manifold in the market. Now when the company is going to launch its IPO, market analysts believe that due to Dhoni’s name being associated with it, a different level of craze can be seen regarding this issue among the retail investors and their fans, due to which this IPO is expected to get bumper subscription.
A huge valuation of ₹15,000 crore has been set as a diplomatic target.
The strategic roadmap that Kuku Tech has prepared for its Initial Public Offering (IPO) is very ambitious. The company is aiming to take its market valuation to around Rs 15,000 crore (about $1.8 billion) through this issue. In the last few years, the company has recorded tremendous growth in its financial position and technical services, due to which big global venture capitalists and domestic institutional investors (DIIs) are expressing full confidence in the company’s business model. The company will use this fund for its global expansion and developing new technologies.
This IPO can prove to be a lifeline for new age tech companies.
For some time now, investors seem to be a bit diplomatic and cautious regarding the IPOs of new age tech and startup companies in the stock market. In such an environment, Kuku Tech entering the market with such a huge amount can prove to be a game-changer for the entire tech sector. Market veterans say that if Kuku Tech keeps its pricing and valuation strategically attractive, it will completely change the sentiment of the IPO market and will make it easier for many other big startup companies to launch IPOs in the coming days.
Investors thinking of investing should keep an eye on these diplomatic things from now on
If you are also thinking of investing money in this favorite stock of MS Dhoni, then keep your eyes on the Draft Red Herring Prospectus (DRHP) to be submitted by the company to the market regulator SEBI soon. Through this draft, the exact profits of the company for the last three years, revenue model, promoters’ share and strategic dates of IPO will be officially announced. Along with this, it will be very important to keep an eye on the Gray Market Premium (GMP) so that an accurate strategy can be made regarding listing gains.
