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The initial share sale received bids for 1,65,77,925 shares against 76,23,030 shares on offer, as per NSE data. The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 2.17 times on the third day of bidding on Friday. The initial share sale received bids for 1,65,77,925 shares against 76,23,030 shares on…
Continue ReadingThe initial public offer of water and sewage infra player EMS opened for public subscription. The issue, which closes on September 12, comprises a fresh equity issue of Rs 146 crore and an OFS of 82.94 lakh shares. Analysts advised investors to subscribe to the IPO over fair valuations, robust order book, and strong execution…
Continue ReadingInox India Ltd has filed draft papers with Securities Exchange Board of India to raise funds via initial public offerings. Cryogenic tank maker Inox India Ltd has filed the draft papers with the Securities Exchange Board of India to raise funds through a public issue. The IPO will be a pure offer-for-sale of up to…
Continue ReadingThe selling pressure seen in Reliance Industries shares last week makes it evident that investors are not expecting Mukesh Ambani to make some big-bang announcement at today’s annual general meeting (AGM) of RIL. But if the billionaire reveals the roadmap for any further value-unlocking exercise, it could change the stock’s trajectory in the near term.…
Continue ReadingShares of Jio Financial Services were locked in the lower circuit of 5% for the third straight session on Wednesday, trading at Rs 224.65, amid continued selling by institutional investors. In three days, the market value of the subsidiary of Reliance Industries has eroded by more than Rs 23,700 crore. The traded volumes of 2.3…
Continue ReadingNestle India Ltd on July 27 reported a consolidated net profit at Rs 698.34 crore for the June quarter of FY24, registering a growth 36.8 percent from Rs 510.24 crore in the same quarter of the previous financial year. The company reported a 5.1 percent fall in profit from Rs 736.64 crore in the previous…
Continue ReadingBoards of the twin entities have fixed July 13 as the “record date” for determining the shareholders of HDFC “who shall be issued and allotted the shares of HDFC Bank”. The boards of mortgage lender Housing Development Finance Corporation (HDFC) and private lender HDFC Bank have approved July 1 as the effective date of merger,…
Continue ReadingTVS Motor will deploy over 10,000 electric scooters over the course of two years and also ensure charging facilities for delivery persons, the auto manufacturer has said TVS Motor has announced a strategic partnership with food-delivery startup Zomato to accelerate eco-friendly transportation for short-distance deliveries. TVS Motor will deploy over 10,000 electric scooters over the…
Continue ReadingThe initial public offering of leading drone maker Ideaforge will open for subscription today and will be available for public to bid till June 29. Ahead of the IPO, the company has raised about Rs 254 crore from anchor investors, which included some marquee names like Nomura, Invesco, HSBC, ICICI Pru MF, Mirae Asset MF,…
Continue ReadingIn the grey market, the shares of HMA Agro are trading at a 2-4% premium despite favourable market conditions. This could be because of the tepid response to the offer, rich valuations, and the OFS portion being larger than the issue of fresh shares. The share allotment details of the public issue of HMA Agro…
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