The company aims to raise around Rs 152 crore through the issue that will close on August 24.
Infosys former CFO V Balakrishnan today asserted that Chairman R Seshasayee and Co-chair Ravi Venkatesan must step down as part of a board rejig before the country's second-largest IT firm kicks off search for a new CEO.
The company had filed IPO papers with Sebi in June and got 'observations' from it on August 14, which is necessary for a company to launch the public offer, as per the latest update with Sebi.
The public sector insurers are expected to hit the market in the current financial year to help the government meet its ambitious disinvestment target of Rs 72,500 crore.
Citigroup Inc and seven other banks will underwrite the initial public offering of Petroleo Brasileiro SA's fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said.
The IPO will be entirely comprised of an offer for sale by the company’s promoters Housing Development Finance Corporation and Standard Life (Mauritius Holdings) 2006.
ICICI Lombard's plan to list on the stock market looks well in place. The due diligence for the 13 percent stake sale to private equity players will be completed by end of the month. The company is expecting a SEBI nod for its IPO in the next 2-3 weeks, reports CNBC-TV18's Yash Jain.
Seaways had earlier planned for an initial public offering, and accordingly filed the draft red herring prospectus (DRHP) last year.
SREI Equipment Finance going to come up with an initial public offering (IPO). In an interview to CNBC-TV18, Sunil Kanoria, Vice Chairman of SREI Infrastructure Finance spoke about the latest happenings in his company and sector.
"The company has raised Rs 1,442 crore from the IPO which has been a combination of fresh issue and offer for sale in the ratio of 2:1," the ministry said in a statement.
At the upper end, the shares can fetch up to Rs 152.25 crore while at the lower limit, the company will raise at least Rs 148.77 crore.
Investment banking firms CLSA and JM Financial are likely to be the bankers to the issue
The funds raised from the issue will be utilised towards expansion of Barbeque Nation restaurants in the country, repayment of loans of the company and its subsidiaries
Reliance Capital has started the process for listing its general insurance business by filing papers with the regulator. The company also plans to set up a new standalone health insurance company soon.
Cochin Shipyard did not break its issue price due to weak market sentiment but that capped its upside. The day's low was Rs 435 on the National Stock Exchange.
Cochin Shipyard immediately gained momentum further and hit a high of Rs 528.15 in early trade, up more than 22 percent over IPO price.
Aside has a sizeable presence in the middle east with 7 hospitals, 89 clinics and 202 retail pharmacies in the Gulf Cooperation Council (GCC) states . It also has 11 multi-speciality hospitals and 6 clinics in India, and one clinic in the Philippines as of 31 March.
“We expect Cochin Shipyard to be on premium with a listing gains of over 20 percent," Mustafa Nadeem, CEO, Epic Research said.
The stock closed at Rs 757.05 on the National Stock Exchange, down 7.1 percent from its issue price of Rs 815.
The company has appointed Edelweiss Securities and IIFL as merchant bankers to the issue
The premium of at least Rs 100 could be possible because of overwhelming response received by the issue, analysts feel.
In the pre-opening, the stock settled at Rs 879.80, higher by 8 percent from its issue price.
The price quoted in the grey market is the ‘premium’ over the likely issue price. So when brokers say the IPO is quoting at Rs 85-90 in the grey market, it means that the appetite for the issue is Rs85-90 above the issue price.
The Rs 780-crore public issue, which was opened for subscription between July 31 and August 2, was oversubscribed 7 times.
Sintex Plastics Technology got listed today. The company is into pre-fabrication, custom moulding and makes storage tanks and it will have two wholly-owned subsidiaries, Sintex BAPL and Sintex Infra Proj.