It's a weak debut for IEX on Dalal Street. The stock lists at discount of over 5 percent to the issue price of Rs 1,650 per share. CNBC-TV18’s Yash Jain caught up with SN Goel, MD and CEO of the company and began by asking about the company's fund raising plans and growth targets.
Indian Energy Exchange opened sharply lower at Rs 1,500, falling 9 percent against issue of Rs 1,650 per share on Monday.
The offer comes soon after the Rs 11,370 crore IPO of GIC Re, which will be listed on October 25. It has already been oversubscribed by over 1.35 times.
Indian Energy Exchange's issue price is fixed at Rs 1,650 per share, the higher end of price band.
The stock had a whopping premium of 44 percent on the National Stock Exchange on Wednesday at Rs 660 against its issue price of Rs 459.
In an interview to CNBC-TV18, Kamlesh Gandhi, Founder & CMD of MAS Financial Services spoke about the strong listing on the bourses, the latest happenings in his company and the sector.
MAS Financial Services has opened at Rs 660 against its issue price of Rs 459.
Analysts expect the stock to list with a premium of Rs 150-200, given the strong subscription to the issue and strong financials of the company.
Post-IPO, according to Jindal, the company will be targeting at reaching 30 MT capacity by 2025 and 50 MT by 2030, both through organic and inorganic growth.
The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 percent stake, by HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 percent, holding by Standard Life Mauritius.
The company, a joint venture between Reliance ADAG and Nippon Life of Japan, would both issue fresh shares and offer for sale (OFS) of promoters' holdings to raise around Rs 1,500 crore from the market through the IPO.
The stock touched a high of Rs 630 and low of Rs 563.40 during the day’s trade.
Sources told Mint that SEBI gave the green light for the IPO last week.
Diversified agro-business company Godrej Agrovet started off first trade at Rs 615.60 on the National Stock Exchange, a whopping premium of 33.82 percent over its issue price of Rs 460 per share.
The Rs 1,157 crore IPO was a huge hit and oversubscribed 95.41 times during October 4-6. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 150.96 times, non institutional investors 236.04 times and retail investors 7.67 times, as per NSE data.
Analysts expect the listing price to be in Rs 550-600 per share range, given the overwhelming response to the issue and hefty grew market demand.
The issue IPO received bids for 16,87,32,208 shares against total issue size of 12,47,00,000 shares, data available with the NSE as of 6:00 pm showed.
The issue comprises a fresh issue of 1,72,00,000 shares by the Corporation and an offer for sale of 10,75,00,000 shares by the promoter.
We analysed the performance of 45 IPOs between January 1, 2016 and August 31, 2017 to figure out the broad trend. Share prices as on October 10, 2017 have been taken into account to calculate the gains and losses.
LIC chairman VK Sharma reportedly confirmed that LIC has bid for shares in the GIC Re IPO but declined to comment on the amount bid for.
The initial public offering of up to 6.12 crore equity shares comprises a fresh issue of up to 2.448 crore shares by the company and an offer for sale up to 3.672 crore shares by the selling shareholders.
The offer by the manager of India's third-biggest mutual fund by assets under management, which will run from October 25 to October 27, involves a 10 percent stake sale in the company.
GIC Re is India’s third-biggest IPO after Coal India’s Rs 15,200 crore issue in October 2010 and Reliance Power’s Rs 11,700 crore share sale in January 2008.
The reinsurance company has fixed the price band at Rs 855-912 for its IPO which closes on October 13.
The IPO of the reinsurance company, which is in a price band of Rs 855-912, will close on October 13. The issue comprises fresh issue of 1,72,00,000 shares by the Corporation and an offer for sale of 10,75,00,000 shares by the promoter.