Investing in Bharat 22 ETF is like participating in the Indian growth story and I am sure investors will take part in this growth story said, Neeraj Kumar Gupta, Secretary, DIPAM.
As much as 25 percent of the total issue size, or Rs 2,000 crore, was reserved for anchor investors who put in bids worth about Rs 12,000 crore, ICICI Prudential MF said.
During the initial share sale, as many as 307 shareholders will sell 63,31,674 shares of the company, according to the draft red herring prospectus (DRHP )filed with Sebi.
The Gurugram-based company has appointed Axis Capital and ICICI Securities as merchant bankers to advise it on its plans to list on the stock exchanges
The country's largest general insurance firm New India Assurance Company, which recently concluded its initial public offer, will be making its stock market debut on Monday, November 13, and most likely at a discount or to a slight premium.
The reserved category of retail investors has oversubscribed 17.94 times and high networth individuals 1.21 times.
The issue received bids for 1,06,68,34,400 shares against the total size of 21,97,59,218 shares, as per NSE data.
The IPO, estimated to raise Rs 8,695 crore, received bids for 25,78,71,850 shares against the total issue size of 21,97,59,218 shares, as per NSE data.
According to a CNBC-TV 18 report, the ETF’s first tranche is expected to be released on November 14.
At present, HDFC owns 61.41 percent stake in HDFC Standard Life and Standard Life has about 34.86 percent stake, while the remaining is with employees and PremjiInvest.
HDFC Standard Life Insurance Company Limited's initial public offering (IPO) opens today and its after 22 years that the group has approached the capital market. The price band for the IPO is fixed between Rs 275 and Rs 290 per share and through the offer the existing shareholders will be diluting approximately 15 percent. CNBC-TV18’s Yash Jain caught up with the man of the moment, Amitabh Chaudhry, MD & CEO of HDFC Life and asked him about the strong anchor investor interest received by the company.
Brokerages largely recommend subscribing to the issue with a long term view, but point out the steep valuation of the issue despite strong fundamentals
HDFC and Standard Life Mauritius are two promoters of the company, which respectively hold 61.21 percent and 34.75 percent of equity shares as of October 25, 2017.
The company received bids for 14.31 crore shares against an issue size of 12.87 crore shares, data available with the NSE as of 5:15 pm showed.
The initial public offering (IPO) of Khadim India Limited, one of the leading footwear brands in India is now open for subscription. The company manufactures and sells products through its own stores, four major distribution centres and many other franchise outlets.
According to data available with the NSE till 2:15 pm, the issue received bids for 5,84,41,376 shares against a total issue size of 1,35,70,143 shares.
Brokerages largely recommend subscribing to the issue, while some have highlighted pricing in of future growth of the company.
The company has sold shares to institutional investors as part of its anchor book allocation
The IPO comprises of fresh issue of aggregating up to Rs 50 crore and an offer for sale of up to 65,74,093 equity shares.
An 18-20 percent sustainable growth for many years is achievable till India reaches global standards of insurance penetration and density, said G Srinivasan, CMD, New India Assurance.
NIA has been in operation for almost a century. It was nationalised in 1974 and today it is the largest general insurance company in India in terms of net worth, domestic gross direct premium, profit after tax and number of branches.
Brokerages recommend subscribing to the issue citing good business potential, but highlight valuation concerns as well.
State-run New India Assurance Company's Rs 9,600-crore initial public offer is set to open for subscription on Wednesday, with a price band of Rs 770-800 per share.
The Mahindra Logistics' initial public offering (IPO) opens for subscription today and will remain open until November 2nd. In an interview to CNBC-TV18, Pirojshaw Sarkari, CEO of Mahindra Logistics spoke at length about the issue.
Hem Securities has come out with its report on Mahindra Logistics. The research firm has recommended to "Subscribe " the IPO in its research report as on October 30, 2017.