The ICICI Lombard General Insurance Company's initial public offering (IPO) closed for subscription yesterday and was oversubscribed three times on qualified institutional buyer (QIB) support but high net worth individual (HNI) participation was low.
Footwear retailer Khadim India has received capital markets regulator Sebi's approval to raise an estimated Rs 550-650 crore through an initial public offering.
The insurer is looking to raise about Rs 5,700 crore at the higher end of the price band, which is fixed at Rs 651-661 per share.
It would be the first initial share sale by a major asset management company (AMC) in India though smaller rival UTI Mutual Fund's IPO plans have been in the works for a long time.
The IPO of Bharat Road Network, a Srei Infrastructure Finance company, received bids for 2,03,69,336 shares against the total issue size of 2,93,00,000 shares
The initial public offer of Bharat Road Network was subscribed 22 percent on the first day of the three-day bidding today.
Maybe that’s why amateur and professionals alike tend to lose their minds in bull markets, particularly when a hot initial public offering, or IPO, is offered to them by their broker.
"When we got the in-principle license from RBI, we were asked to come out with IPO by 2018", founder and CEO of Bandhan Bank Chandra Sekhar Ghosh said at the second foundation anniversary here last evening.
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.
"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.
Investment banking firms CLSA and JM Financial are likely to be the bankers to the issue
Mahindra Group's logistics arm has filed draft papers with markets regulator Sebi to raise an estimated Rs 700 crore through an initial public offering.
The Department of Investment and Public Asset Management (DIPAM) has through an advertisement invited bids from registrars for disinvestment of up to 25 per cent stake each in Bharat Dynamics, Garden Reach Shipbuilders & Engineers, Mazagon Dock Shipbuilders and Mishra Dhatu Nigam Ltd.
The initial share sale offer of Cochin Shipyard was oversubscribed 3.16 times on the second day of the three-day bidding today.
The initial share sale offer of Security and Intelligence Services (India) Limited (SIS) was oversubscribed 1.93 times on the second day of bidding.
The investor community is bustling with activity even as multiple investment banks have been engaged by insurance companies for the process of valuation, quantum of stake sale, pricing and timing of the issue.
The Mumbai-based company had filed draft red herring prospectus (DRHP) with Sebi in September 2009 to raise about Rs 2,800 crore. The company got the Sebi nod in January 2010, but later shelved its plan to launch the IPO due to bad market conditions post the global financial crisis.
The company is making a fresh issue of equity shares aggregating up to Rs 362.25 crore and an offer for sale of up to 5,120,619 equity shares by the selling shareholders.
The initial share-sale offer will open for public subscription on July 31 and close on August 2, merchant banking sources said.
Irrespective of whether or not the rich investors make money, NBFCs have been making money hand over fist in what now seems to have become a zero risk game for them.
Watch the interview of Amitabh Chaudhry MD & CEO HDFC Life with Shereen Bhan on CNBC-TV18, in which he shared his views on the company's IPO plans.
HDFC Life will continue looking at Max Financial Services merger proposal along with IPO, sources said.
Moneycontrol explains what a grey market is and how it influences the listing day price of companies going public.
After mopping up the shares in the grey market, on listing day, the said operator buys the big quantity from the open market as well, and virtually buys entire allotment of HNI category and part of retail category as many of them apply for listing gains only.
A total of 50 companies got listed with initial public offers (IPOs) worth Rs 660 crore in the first six months of the year as compared to 27 firms which tapped the IPO route to garner Rs 211 crore in January-June 2016.