Srei Equipment Finance plans IPO; to dilute up to 25% equity 18/08/2017

Srei Equipment Finance plans IPO; to dilute up to 25% equity
18/08/2017
Click Below


Srei Equipment Finance Ltd (SEFL), a wholly-owned subsidiary of Srei Infrastructure Finance, said it plans an initial public offer to dilute up to 25 per cent of its equity share capital, reported PTI. SEFL provides financing for construction and mining equipment in the country.The company in a statement said that its board of directors at a meeting today has decided to evaluate public offering of its equity share capital. SEFL CMD Hemant Kanoria said: "Infusion of fresh capital into the business will help us achieve our growth objectives and result in enhanced stakeholder value."Sunil Kanoria, the Vice-Chairman of the company, said increased spending in infrastructure by the government has led to growth in equipment sales. This has increased SEFL's opportunity to assist customers with equipment loan/lease, deployment solutions, maintenance solutions, working capital products and exit solutions, he added. "We are also focused in bringing in new vendors and manufacturers to the country to further expand our markets. This relationship-cum-partnership approach along with our asset life cycle solution should enable our growth surpassing the growth trajectory of the industry," said Devendra Kumar Vyas, Chief Executive Officer, SEFL. Company's asset under management (AUM) grew by over 20 per cent to Rs 23,453 crore during the first quarter of 2017- 18.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

Cochin Shipyard IPO a landmark IPO: Govt 17/08/2017

Cochin Shipyard IPO a landmark IPO: Govt
17/08/2017
Click Below


Cochin Shipyard Ltd has completed its landmark IPO which was over-subscribed 75 times attracting more than Rs 1.11 lakh crore, as against the offer size of Rs 1,442 crore, the government said as per the PTI report.Parts of the IPO proceeds will be utilised for expansion projects of the state-run entity.
CSL, under the shipping ministry, was listed on BSE and NSE on August 11, 2017."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."The IPO was oversubscribed by over 75 times with more than Rs 1.11 lakh crore being raised against the offer of Rs 1,442 crore," it said.The issue also saw a strong interest from retail segment with over 20 lakh applications, the highest in the last decade.The qualified institutional buyers portion was over- subscribed by over 63 times and the HNI portion was over- subscribed by 287 times.On listing, the stock opened 20 per cent higher despite the markets being low, the statement said, adding that the company had undertaken very detailed roadshows in India, Far East, Europe and US."The proceeds of the fresh issue part of the IPO, totalling approximately Rs 961 crores will be used by CSL for part funding two expansion projects costing Rs 2,800 crores," it said.The projects are - a dry dock at the Cochin Shipyard premises to accommodate bigger ships for building and repair and a ship repair facility in the adjacent Cochin Port Trust premises by setting up of a ship lift and transfer system.Cochin Shipyard was incorporated in the year 1972 as the first green field shipyard of India. As on date it is the largest public sector shipyard in India in terms of dock capacity.CSL caters to clients engaged in the Defence sector in India and clients engaged in the commercial sector worldwide for Shipbuilding and Ship Repair. In addition to shipbuilding and ship repair, CSL also offers marine engineering training.The company has exported around 45 ships to overseas customers and has the pride of building the first Indigenous Aircraft Carrier for the Indian Navy.The company's turnover rose to Rs 2,059 crore in 2016-17 from Rs 1,404 crore for the 2012-13. The Profit After Tax for the 2016-17 was Rs 322 crore, while the networth of the company as on March 2017 was Rs 2,031 crore.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

Dixon Tech prepares for IPO; eyes Rs 5K cr turnover in 3 yrs 16/08/2017

Dixon Tech prepares for IPO; eyes Rs 5K cr turnover in 3 yrs
16/08/2017
Click Below


Dixon Technologies, which is going for a Rs 700 crore IPO next month, aims to cross Rs 5,000 crore turnover in next 3-4 years banking on opportunities emerging from domestic market and exports, reported PTI. The Noida-based Dixon is looking to raise Rs 700 crore from the initial public offering (IPO), the proceeds of which will be used for expansion of the company, which manufactures appliances like washing machines, LED TV, lighting products and mobile phones. "We are looking to raise around Rs 700 crore. We are targeting the first week of September. We have got the approvals from SEBI for DHRP," Dixon Technologies CMD Sunil Vachani told PTI. The IPO would also fund the company's new plant in Tirupati, Andhra Pradesh, for manufacturing LED TV and LED bulbs besides paying off debt and expansion of other facilities. "One of the reason for IPO is to fund the projects of backward integration. We are getting into plastic and sheet metals products in-house. Even for TV, panels would be made in-house," Vachani said. The public issue comprises fresh issue of shares worth Rs 60 crore and an offer for sale of up to 3,753,739 equity scrips by the existing shareholders. In FY 2016-17, Dixon had a turnover of Rs 2,400 crore. "We are almost growing over 20 per cent and next year, we hope to have a turnover of 3,500 crore," he added. Asked if Dixon would cross Rs 5,000 crore mark in next three years, Vachani said he is looking forward to it. The company had started manufacturing mobile phones two years ago and has a capacity of 10 million units per year. "We are planning to invest in backward integration to PCB (printed circuit board) in-house and this would be done in few months," Vachani added. Dixon, which has a capacity of 9 million LED bulbs per month, is also exporting its lighting products to around 20 countries in the Middle-East and Africa among others. "We are taking our LED bulb manufacturing capacity to 14 million per month, which would put us among top three globally," said Vachani. While, in the home appliances segment, the company has a capacity to roll out 8 lakh semi-automatic washing machines. Besides, the company also provides repair & refurbishment services of mobile phone, TV panels and Set Top Boxes. The company, which is indirectly participating into the government's plan to develop smart cities, said it would bring huge demand for smart LED lightings. "We would be partnering with our customers in the smart city projects and bid tender with them. It would be partnership with the brand," he added.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

Contura withdraws IPO due to capital market conditions 14/08/2017

Contura withdraws IPO due to capital market conditions
14/08/2017
Click Below


Contura Energy, Inc. has withdrawn the initial public offering of its shares of common stock due to capital market conditions. The company's principal selling stockholders unanimously determined that proceeding with the offering under current market conditions would undervalue the company. Accordingly, the company has withdrawn its registration statement on file with the US Securities and Exchange Commission (SEC). "We appreciate the diligent consideration given by our company's principal stockholders during this process," said Kevin Crutchfield, Chief Executive Officer. "Proceeding with an IPO at this time is not the best course for our company or our stockholders. We will continue to analyze all strategic options and opportunities to maximize the potential of our young company." As previously disclosed, the company amended its debt agreements to permit an aggregate amount of USD 150.0 million of cash to be used for the July 13, 2017 payment of a USD 100.7 million extraordinary dividend and dividend equivalent and for the potential repurchase of company common stock at any time no later than December 31, 2017. The company's board of directors is considering creating a common stock buyback program with the remaining USD 49.3 million. The board's analysis will take into consideration any legal or contractual limitations, actual and anticipated future earnings, cash flow, debt service and capital requirements, tax considerations, the trading price of the company's common stock, and other factors that the board may deem relevant.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

Cochin Shipyard surges 20% after a quite debut 11/08/2017

Cochin Shipyard surges 20% after a quite debut
11/08/2017
Click Below


Cochin Shipyard, the largest shipbuilding and maintenance facility in India, made a quite debut on the Bombay Stock Exchange at Rs 435, up 0.69 per cent above its listing price of Rs 432, in otherwise weak market conditions. In a similar trend, shares of the company, which had got overwhelming response for its initial public offering, listed at Rs 440.15, 1.88 percent higher than the issue price on the National Stock Exchange. However, the company’s shares recovered strongly later in the day and rose as much as 20.83 per cent against the issue price to trade at Rs 522.00. In the day’s trade so far, stocks hits intra-day high and low of Rs 522.00 and Rs 435.00, respectively. In a similar fashion, stocks of company were trading 19.99 per cent lower at Rs 528.15 apiece on the National Stock Exchange. “The equity shares of Cochin Shipyard Ltd (Scrip Code: 540678) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities,” said the company in a filing to the Bombay Stock Exchange. The initial share sale offer of Cochin Shipyard garnered strong demand from investors with the issue getting oversubscribed 76.12 times on the last day of the bidding, reported PTI. The IPO, to raise up to Rs 1,468 crore, received bids for over 258 crore shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed. Meanwhile, the broader benchmark BSE Sensex was trading at 31,260.17, down 271.16 points, or 0.86 per cent, at 13:30 hours.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

SIS shares lose over 7% in debut trade 11/08/2017

SIS shares lose over 7% in debut trade
11/08/2017
Click Below


Shares of Security and Intelligence Services (SIS) erased early gains to close with a loss of over 7 per cent against the issue price of Rs 815 in debut trade yesterday, reported PTI. The stock listed at a premium of 7.36 per cent at Rs 875 on BSE. However, it gave up all the gains later and finally closed at Rs 756.70, showing a loss of 7.15 per cent over the issue price. During the trade, it touched a high of Rs 878 and a low of Rs 749. At NSE, shares of the company slumped 7.11 per cent to close at Rs 757.05. In terms of equity volume, 13.20 lakh shares of the company were traded on BSE and over 80 lakh shares changed hands at NSE yesterday. The companys market valuation stands at Rs 5,535.94 crore. The initial share sale offer of Security and Intelligence Services (India) Limited was oversubscribed 7 times. The company had set Rs 805-815 per share as the price band for the IPO.
The company provides security solutions and business support services to a wide range of customers across India and Australia. Axis Capital Limited, ICICI Securities Limited, IIFL Holdings Limited and Kotak Mahindra Capital Company Limited were the global coordinators and book running lead managers to the offer.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

Modine announces public offering of common stock 10/08/2017

Modine announces public offering of common stock
10/08/2017
Click Below


Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, today announced that it has commenced an underwritten public offering of 5 million shares of common stock. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock of the Company. The Company intends to use all of the net proceeds of the offering to pay down outstanding indebtedness. The offering is being made through an underwriting group led by Baird, who is acting as joint book-running manager and as representative of the underwriters, and KeyBanc Capital Markets, who is acting as joint book-running manager for the common stock offering. Seaport Global Securities and Craig-Hallum Capital Group are acting as co-managers for the offering.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

Sintex Plastics Tech makes strong debut, fall posts listing 08/08/2017

Sintex Plastics Tech makes strong debut, fall posts listing
08/08/2017
Click Below



Sintex Plastics Technology, the plastic division of Sintex Industries, made a robust debut on the Bombay Stock Exchange by rising 5 per cent above its listing price of Rs 130. However, the demerged entity soon pared its gain and slipped into negative terrain.The shares of company were currently trading at Rs 126.75 apiece, down 2.5 per cent against issue price. In the day’s trade so far, stocks hits intra-day high and low of Rs 136.50 and Rs 123.60, respectively.In a similar fashion, stocks of company were trading 2.77 per cent lower at Rs 126.40 apiece on the National Stock Exchange.“The equity shares of Sintex Plastics Technology are listed and admitted to dealings on the Exchange in the list of 'T' Group Securities,” said the company in a filing to the Bombay Stock Exchange.As on September 29, 2016, the board of directors of Sintex Industries had approved the scheme of demerger of custom moulding and prefab business into Sintex- BAPL and Sintex Infra Projects respectively. Post the demerger scenario, two companies Sintex Industries and Sintex Plastics Technology were to carry the textile and spinning business and plastics business, respectively.Meanwhile, the broader benchmark BSE Sensex was trading at 32,098.87, down 170.80 points, or 0.54 per cent, at 12:55 hours.

 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

GIC files papers for IPO, govt to dilute 14.22% stake 08/08/2017

GIC files papers for IPO, govt to dilute 14.22% stake
08/08/2017
Click Below


General Insurance Company of India has filed draft red herring prospectus (DRHP) for initial public offer for sale of 12.4 crore shares as part of the government's strategy to list all state-owned insurers, reported PTI. Following the IPO, the central government's stake in the wholly owned reinsurance firm will come down by 14.22 per cent, according to the DRHP. The company proposed IPO is of 12.4 crore shares with a face value Rs 5 each. Of this, 1.7 crore will be fresh shares while 10.7 crore will be offered for sale by the government. The company intends to utilise net proceeds from the fresh issue of shares to augment capital base, support future growth and maintain current solvency levels. GIC Re provides reinsurance support to 54 direct general and life insurance companies, both public and private, in the Indian insurance market. It also has a global presence providing reinsurance services to insurance companies in the SAARC region, African countries and the Middle-East, besides having branch offices in London, Dubai and Malaysia and a representative office in Moscow. In mid-January, the Cabinet had approved listing of general insurance companies - New India Assurance Company, United India Insurance, Oriental Insurance Company, National Insurance Company and General Insurance Corporation of India (GIC Re). It had approved dilution of up to 25 per cent stake in each of the five companies. The government has set a steep disinvestment target of Rs 72,500 crore for the next fiscal, of which Rs 11,000 crore is expected to come from listing of PSU general insurers.
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040

Mahindra Logistics files for IPO 07/08/2017

Mahindra Logistics files for IPO
07/08/2017
Click Below


Mahindra Logistics Ltd, a unit of automobile major Mahindra and Mahindra Ltd, has filed for an initial public offering of shares, reported PTI. The promoter, Mahindra and Mahindra Ltd, will be selling 9.7 million shares while Normandy Holdings Limited will sell 9.3 million shares as part of IPO, according to a filing with market regulator Securities and Exchange Board of India. Mahindra Logistics provides services such as warehouse solutions and transport management. Kotak Mahindra Capital Company Limited and Axis Capital Limited are the book-running managers to the IPO.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Cochin Shipyard IPO a huge hit, oversubscribed 76 times 04/08/2017

Cochin Shipyard IPO a huge hit, oversubscribed 76 times
04/08/2017
CLICK Below


The initial share sale offer of Cochin Shipyard garnered strong demand from investors with the issue getting oversubscribed 76.12 times on the last day of the bidding, reported PTI. The IPO, to raise up to Rs 1,468 crore, received bids for over 258 crore shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 63.52 times, non-institutional investors 288.87 times and retail investors 8.28 times. Till close of bidding yesterday, the IPO was oversubscribed 3.16 times.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Cochin Shipyard IPO subscribed 92% on Day 1 02/08/2017

Cochin Shipyard IPO subscribed 92% on Day 1
02/08/2017
CLICK Below


The initial public offer of Cochin Shipyard was subscribed 92 per cent on the first day of the three-day bidding, reported PTI. The IPO received bids for 3,13,17,540 shares against the total issue size of 3,39,84,000 shares, data available with the NSE showed. Public sector unit Cochin Shipyard aims to raise up to Rs 1,468 crore through its share sale offer. The portion set aside for qualified institutional buyers (QIBs) was subscribed 72 per cent and non-institutional investors 22 per cent. Retail investors category was oversubscribed 1.57 times. The IPO of 3,39,84,000 equity shares is in a price band of Rs 424-432 and will close on Thursday. SBI Capital Markets, Edelweiss Financial Services and JM Financial Institutional Securities are the book running lead managers to the issue.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Hatsun Agro plans to raise Rs 500 cr via QIP 01/08/2017

Hatsun Agro plans to raise Rs 500 cr via QIP
01/08/2017
CLICK Below


Dairy firm Hatsun Agro Products has sought shareholders' approval to raise up to Rs 500 crore through private placement of securities to institutional investors. The shareholders' nod has been sought through postal ballot, according to a regulatory filing. In a postal ballot notice, the company has sought shareholders' nod for "raising of funds up to Rs500 crore by issue of securities to qualified institutional buyers through qualified institutional placement". The company said it needs capital for business growth. "While it is expected that the internal generation of funds would partially finance the need for capital, the raising of funds through QIP route would be another source of funds to raise a part of the funding requirements for the said purposes as well as for such other corporate purposes...," Hatsun Agro said.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Dixon Technologies gets Sebi's nod for IPO 01/08/2017

Dixon Technologies gets Sebi's nod for IPO
01/08/2017
CLICK Below


Dixon Technologies, a consumer electronics and lighting product manufacturer, has received market regulator Sebi's approval to raise an estimated Rs 600 -650 crore through initial public offering, reported PTI. The company had filed draft papers with Sebi to float an IPO in May and got 'observation' from the regulator on July 26, as per the latest update with Securities and Exchange Board of India (Sebi). Dixon's public issue comprises fresh issue of shares worth Rs 60 crore and an offer for sale of up to 3,753,739 equity scrips by the existing shareholders. According to sources, the company is targeting to raise Rs 600-650 crore through the initial public offering. Proceeds from the issue will be utilised for setting up a unit for manufacturing of LED TVs at the Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure. Besides, the funds will also be used for repayment of loans and for general corporate purposes. IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities are the book running lead managers to the issue.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Parekh says focus is on HDFC Life IPO 27/07/2017

Parekh says focus is on HDFC Life IPO
27/07/2017
CLICK Below


Deepak Parekh, the chairman of the largest mortgage lender HDFC, said the proposed merger of HDFC Life Insurance and Max Life has been called off and the company is now focused on taking its life insurance arm public through an IPO, reported PTI. Parekh said the initial public offer or IPO is likely to come in by late November or in the first week of December. HDFC Life and Max Life had proposed a merger last August where Max Life was to be merged first with Max Financial Services, its holding company. Parekh said under section 35 of the Insurance Act an insurance company can only be merged with another insurer. "The regulator Irdai has referred the matter the government and the Solicitor General took a view that Max Life will lose its insurance status when if merged with Max Financial Services and therefore it goes against section 35 of Insurance Act. So, our proposal was rejected," Parekh told shareholders at the 40th annual general meeting of HDFC. After spending one year in the process, insurance boards of HDFC Life and Standard Life decided to move forward with the IPO, he said. Parekh said HDFC Life has already filed papers for an IPO with the Irdai. "We cannot have two things simultaneously. So when we filed the prospectus we have to take a decision that merger is off and we will go for an IPO." He said HDFC Life has to file an actuarial report and get a permission from Irdai to file for IPO with Sebi. The company expects to get the approval sometime mid-August and then it will file draft hearing prospects with Sebi. "We hope that we can open the issue by end-November or in the first week of December, provided we get approval from Sebi," Parekh added. He, however, said the HDFC Life is open for merger with Max Life provided Max is willing to combine the two companies and demerge the finance business of Max Finance and give the shareholders of Max Finance Max Life. "So, there are number of different structures one can look at. We are keen on the merger but at the moment we cannot do it so we are going for an IPO," Parekh said, adding the general insurance arm HDFC Ergo he said company is still small and it is not ready for an IPO. "We have to wait for two three years before we get some value," he said.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Moelis begins public offering of Class A common stock 26/07/2017

Moelis begins public offering of Class A common stock
26/07/2017
CLICK Below


Moelis & Company, a leading global independent investment bank, on Tuesday announced that it has commenced a public offering of 6,000,000 shares of Class A common stock at a public offering price of USD 42 per share, which is expected to yield gross proceeds of approximately USD 252.0 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is expected to close on July 28, 2017 subject to customary closing conditions, it said. “The proceeds of the shares of Class A common stock being offered will be used to repurchase the same number of shares of Class A common stock or partnership or other equity interests that are exchangeable or convertible into shares of Class A common stock from certain of the Company’s Managing Directors and former employees; as a result, the number of fully diluted shares of Class A common stock outstanding, which includes all outstanding shares of Class A common stock and partnership and other equity interests exchangeable into shares of Class A common stock, will not increase,” Moelis & Company said in a press release. Moelis & Company will not retain any proceeds from the sale of shares of Class A common stock. The Company is conducting the offering to facilitate organized liquidity in its Class A common stock and to increase the public float of its Class A common stock. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

SIS India sets IPO band at Rs. 805-815 25/07/2017

SIS India sets IPO band at Rs. 805-815
25/07/2017
CLICK Below


Security and Intelligence Services (India) Ltd (SIS) has set the price band of Rs. 805-815 per share for its initial public offering (IPO) through which it aims to raise up to Rs. 780 crore, sources said. The initial share-sale offer will open for public subscription on July 31 and close on August 2, merchant banking media reports said. The company provides security solutions and business support services to a wide range of customers across India and Australia. The IPO comprises fresh issue of shares worth Rs. 362.25 crore and an offer for sale of up to 51,20,619 shares by the existing shareholders. Net proceeds from the fresh issue will be utilised for repayment and pre-payment of a portion of certain outstanding indebtedness, funding working capital requirements and for general corporate purposes, as per the Draft Red Herring Prospectus (DRHP). According to the sources, the company is estimated to raise around Rs. 780 crore at the higher end of the price band. Axis Capital, ICICI Securities, IIFL Holdings, Kotak Mahindra Capital Company are global coordinators and book running lead managers to the issue. SBI Capital Markets, IDBI Capital Markets and Securities and Yes Securities (India) are merchant bankers to the issue. In January, SIS had received market regulator SEBI’s go ahead to float an initial public offer.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

SBI Life files prospectus for IPO 24/07/2017

SBI Life files prospectus for IPO
24/07/2017
CLICK Below


SBI Life has filed the IPO documents with Sebi to raise around Rs 6,000-7,000 crore, in which promoters SBI and France's BNP Paribas Cardif (BNPPC) will sell 12 per cent stake of the company, reported PTI. "The life insurer is expected to raise about Rs 6,000- 7,000 crore through this IPO (initial public offer)," according to investment banking sources. Individually, SBI will dilute 8 per cent and BNP Paribas Cardif 4 per cent in the join venture company -- SBI Life. This will make a gross dilution of 120 million (12 crore) equity shares by both the shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi. "Initial public offer of up to 120,000,000 equity shares of face value of Rs 10 each of SBI Life Insurance Company Ltd for cash at a price aggregating up to ... Through an offer for sale by State Bank of India and BNP Paribas Cardif SA (selling shareholders) of up to 80 million (8 crore) equity shares and up to 40 million (4 crore) equity shares respectively," as per the DRHP document filed by SBI Life. SBI Life Insurance (SBI Life) is a joint venture between India's largest lender State Bank of India (SBI) and BNP Paribas Cardif-- insurance holding company of France. At present SBI holds 70.10 per cent in SBI Life and BNPPC 26 per cent. Minority shareholders Value Life Pte, an affiliate of KKR Asian Fund and MacRitchie Investments Pte, a wholly owned subsidiary of Temasek Holdings hold 1.95 per cent each. Explaining the rationale behind the IPO, SBI Life said the company wants to achieve the benefits of listing equity shares on the stock exchanges. "The listing of equity shares will enhance the 'SBI Life' brand name and provide liquidity to the existing shareholders. The listing will also provide a public market for equity shares in India. "Our company will not receive any proceeds from the offer," it added.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Godrej Agrovet files IPO papers with Sebi 21/07/2017

Godrej Agrovet files IPO papers with Sebi
21/07/2017
CLICK Below


Godrej Industries arm Godrej Agrovet filed draft papers with markets regulator Sebi to raise an estimated Rs 1,000-1,200 crore through an initial public offering, reported PTI. The public issue comprises fresh issue of shares worth Rs 300 crore besides an offer for sale of scrips of up to Rs 300 crore by Godrej Industries and up to 1.23 crore shares by V- Sciences, as per the Draft Red Herring Prospectus (DRHP). Besides, the company is considering a pre-IPO placement of up to 5.6 lakh equity shares worth up Rs 252 crore. Godrej Industries owns 60.81 per cent in Agrovet, which is in businesses such as agri-inputs, animal feeds, palm oil manufacturing, dairy and poultry. Proceeds of the IPO will be utilised towards repayment of loans and for other general corporate purposes. According to merchant banking sources, the company is expected to garner an estimated Rs 1,000-1,200 crore through the initial public offer (IPO). Kotak Mahindra Capital Company, Axis Capital and Credit Suisse Securities (India) Pvt Ltd will manage the companys public issue. The equity shares of the company are proposed to be listed on BSE and NSE. Last month, Godrej Industries had announced that its board "has decided to participate in the IPO of equity shares by Godrej Agrovet Ltd".
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

New India expects to launch IPO by October 20/07/2017

New India expects to launch IPO by October
20/07/2017
Click Below


The largest non-life insurer New India Assurance hopes to launch its initial share sale by October as it expects the final government go-ahead for it anytime now, a senior company official said according to the PTI report. New India and GIC Re are the two government-run non- life insurer and the reinsurer, respectively, which are likely to hit the markets first with IPOs. This will be followed by the other three state-run non-life insurers -- National Insurance, Oriental Insurance and United India Insurance. "We are awaiting the government clearance which may come in anytime now. We are hopeful of coming up with an IPO by October," a senior New India official told reporters on the sidelines of an industry event organised by Dun & Bradstreet here. The government has set a steep disinvestment target of Rs 72,500 crore for the current fiscal, of which Rs 11,000 crore is expected to come from listing of PSU general insurance companies. Meanwhile, National Insurance has also started the process for its IPO which is likely to hit the markets by the end of the current fiscal year. "We are definitely in the process of coming out with an IPO by before March and we are in constant touch with the Department of Financial Services, Irdai and other government departments," said National Insurance Chairman and Managing Director Sanath Kumar. The government is planning to cut its stake in five state-run general insurers to 75 per cent in tranches from 100 per cent at present.

Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040

Cochin Shipyard proposes to issue IPO to finance infra project 18/07/2017

Cochin Shipyard proposes to issue IPO to finance infra project
18/07/2017
CLICK Below


The Cochin Shipyard Limited (CSL) has embarked upon two major infrastructure expansion projects - International Ship Repair Facility at a cost of Rs. 970 crore. and construction of new Dry Dock with a cost of Rs. 1799 crore. In order to finance these projects it has proposed to issue Initial Public Offer (IPO), said an official statement. The entire proceeds of the funds raised through IPOs will be used for partial funding of the projects. This information was given by Minster of State for Shipping and Road Transport and Highways, Mansukh L. Mandaviya in a written reply to a question in the Rajya Sabha today.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040