The stock closed at Rs 199.5, down from Rs 210 on the NSE.
Construction firm PSP Projects share price opened at Rs 195 on the National Stock Exchange, down 7 percent compared with issue price of Rs 210.
Lemon Tree is backed by Warburg Pincus and the IPO will provide the company an opportunity to encash its investments. The private equity giant holds 20-25% stake in the company. Lemon Tree and Warburg didn’t respond to Moneycontrol’s queries. The IPO may comprise stake sale by promoters as well as issue of fresh shares.
The government had earlier scrapped the process on account of suspected cartelisation.
The company had filed its draft papers with Sebi in February and received the 'observations' from the regulator on May 16, which is necessary for any company to launch public offer, as per the latest update.
The company's IPO was oversubscribed 8.58 times, with the qualified institutional buyers (QIBs) portion getting oversubscribed 8.38 times, non-institutional investors 10.39 times and retail investors portion 6.47 times.
The Anil Ambani-led Reliance Infrastructure (RInfra) today said it has received a final nod from market regulator the Securities and Exchange Board of India (SEBI) for its proposed Rs 2500 crore infrastructure investment trust.
State-owned general insurer New India Assurance and reinsurance firm General Insurance Corporation of India (GIC Re), as also HDFC Life are among the other names that may launch their share-sale offers.
The public issue comprise fresh sale of shares worth Rs 580 crore besides an offer for sale of 10 lakh shares by promoter Vikram Shah, according to draft red herring prospectus (DRHP).
CNBC-TV18 learns from sources that ICICI Bank is likely to file a draft red herring prospectus (DRHP) for the ICICI Lombard IPO as soon as Q4 of this fiscal.
The IPO to raise Rs 211 crore received bids for 4,75,43,370 shares against the total issue size of 55,44,000 shares, data available with the NSE till 1900 hours showed.
The issue received bids for 17,01,85,050 shares against the total issue size of 12,62,78,838 shares, as per data available with the NSE till 1830 hours. Institutional investors portion was oversubscribed 1.14 times and other investors 1.59 times, sources said.
The company is selling shares at between 98 to 100 rupees per share, and will become the second infrastructure investment trust to list in the country after IRB InvIT Fund had a tepid debut on Thursday.
The IPO to raise Rs 211 crore received bids for 72,08,040 shares against the total issue size of 55,44,000, data available with the NSE till 1145 hours showed. The issue was subscribed 27 per cent till yesterday. PSP Projects on Tuesday raised a little over Rs 95 crore from anchor investors. It has fixed a price band of Rs 205-210 per share.
The company would benefit from government’s thrust on affordable housing and urban infrastructure, said Rakesh Kumar Arora, Director-Finance, HUDCO.
The stellar listing followed the successful subscription of the IPO, which was oversubscribed almost 80 times, with bids of Rs 97,000 crore
Angel Broking has come out with its report on India Grid Trust. The research firm has recommended to "Subscribe " the IPO in its research report as on May 18 , 2017.
In an interview to CNBC-TV18, Teena Virmani, VP-PCG Research at Kotak Securities spoke about the new listing IRB InvIT.
Ajcon Global has come out with its report on PSP Projects. The research firm has recommended to "Subscribe " the IPO in its research report as on May 18 , 2017.
The traffic and inflation assumption on which the model is based one can pencil in a 9.5 percent revenue growth and 12 percent yield, said VD Mhaiskar, CMD, IRB Infrastructure Developers.
HEM Securities has come out with its report on PSP Projects. The research firm has recommended to "Subscribe " the IPO in its research report as on May 18 , 2017.
The fund had successfully closed its IPO earlier this month, with the issue being oversubscribed 8.57 times
The fund plans to raise Rs 2,250 crore through its initial share-sale offer, which will close on May 19. It has a price band of Rs 98-100 per unit.
The surgical thread maker, which has been valued at around Rs 5,000 crore, is unlikely to issue fresh shares.
The institutional investors category was oversubscribed 10.81 times and other investors 5.89 times. The offer had a price band of Rs 100-102. InvITs or infrastructure investment trusts are those debt instruments that will be traded in the market and can act as investment vehicles for sponsors.