Jagran Prakashan firm to make the offer through book building process and has roped in ICICI Securities as sole book running lead manager
Earlier in the day, the stock was listed at Rs 490 with a premium of nearly 14.48 per cent over its issue price of Rs 428 on BSE. The shares of the company finally ended the day at Rs 480.50, up 12.26 per cent over its issue price.
Sheela Foam listed on exchanges today at a price of Rs 860 per share, up 18 percent from the issue price of Rs 730. The Rs 510-crore initial public offer (IPO) was oversubscribed 5.09 times on December 1.
The government has reduced the minimum subscription denomination to 1 gm in the 4th tranche, which would be open for investment by individuals and institutional investors from July 18-22.
Despite the relatively poor opening, especially when compared to other recent listings, Sandeep Jain, executive director of the company says listing opening price cannot be an indicator of the company's share price. A more appropriate gauge would be the closing price.
The nation's largest lender State Bank of India today said its executive committee has approved the issuance of 3.65 crore equity shares through preferential allotment to the government, as part of its capital infusion.
Sharan Lillaney, research analyst at Angel Broking tells CNBC-TV18 that MCX could end up with 87 EPS by FY14! What's more, it gives another 20% upside for MCX over the next 12 months.
As many as six companies that made their debut on Bombay Stock Exchange (BSE) in the current fiscal are trading well below their issue price, resulting in significant negative returns for the investors.