KRChoksey 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 27, 2017.
Mahindra Logistics, the subsidiary of Mahindra & Mahindra, is scheduled to open its initial public offering on October 31, with a price band of Rs 425-429 per share.
Three companies are scheduled to open their issue in the coming week starting from 30 October to 3 November.
The Anil Ambani-led Reliance Group's asset management arm on Tuesday raised a little over Rs 462 crore from anchor investors.
The company proposes to issue 29,98,27,818 shares. The issue opens on November 7 and will close on November 9.
Khadim India's initial public offer (IPO) comprises fresh issue of equity shares aggregating up to Rs 50 crore besides, an offer for sale of up to 65,74,093 equity shares by the existing shareholders.
"The Board of Directors of SEFL ... has approved, subject to approval of its shareholders, marketing conditions and receipt of requisite approvals from statutory and other authorities, an IPO of its equity shares by way of issue of fresh equity shares up to Rs 2,000 crore," Srei Infrastructure Finance said in a regulatory filing.
The public issue comprises sale of 1,91,246,050 equity shares, amounting to 9.55 per cent stake, by HDFC Ltd and up to 1,08,581,768 scrips, or 5.42 per cent, holding by Standard Life Mauritius.
Multiple brokerages recommend subscribing to the issue considering its business potential and the growth in assets under management (AUM) business.
Will remain a pure Indian domestic AMC and will continue playing the India story, said Sundeep Sikka, ED & CEO, Reliance Nippon Life AMC.
The Rs 1,542-crore initial public offering of Reliance Nippon Life Asset Management (formerly Reliance Capital Asset Management) has been subscribed fully soon after opening for subscription on Wednesday.
Reliance Nippon, with AUM exceeding Rs 3.5 lakh crore and a market share of 11.5 percent, is poised to do well on the back of high margins, strong brand value, and good returns on equity.
The company's IPO committee has finalised allocation 1,8,360,000 equity shares to 24 anchor investors at Rs 252, which is also the upper price band for the offer.
GIC Re's IPO was oversubscribed 1.38 times during October 11-13. The reinsurance company had fixed the price band at Rs 855-912 for its IPO.
Reliance Nippon Life Asset Management is set to open its initial public offer for subscription on October 25, with a price band of Rs 247-252 per share.
Mahindra Logistics is expected to raise Rs 829.36 crore at upper end of the price band.
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 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.
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 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 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.
The IPO received bids for 99,13,914 shares against 42,45,508 shares on offer, as per NSE data.
India's biggest reinsurer kicks off its initial public offering (IPO) today. The USD 1.7 billion issue opens with a price band of Rs 855-912 per share. In an interview to CNBC-TV18, Alice G Vaidyan, CMD of General Insurance Corporation of India (GIC) spoke at length about the IPO.
Brokerages largely recommend subscribing to the issue, considering the penetration potential of insurance services in the country.
The company, enjoys a near-monopoly in the Indian market and the valuation of the offer at 3.4X post-issue book (1.5X book with fair value change) is in line with global peers and looks reasonable in the context of a steady track record and macro opportunities.