Shalby IPO subscribed 2.8 times on last day 08/12/2017

Shalby IPO subscribed 2.8 times on last day
08/12/2017
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The initial share sale of Shalby Ltd, the Ahmedabad-based multi-specialty hospital chain, was subscribed 2.8 times on the last day of the bidding yesterday, stock exchange data showed. The IPO, which aims to raise Rs 504 crore, received bids for 4,08,66,300 shares against the total issue size of 1,45,21,686 shares - translating into 2.8 times subscription - data available with NSE showed. The portion set aside for qualified institutional buyers (QIBs) was subscribed 4.47 times, high net-worth individuals 43 per cent, retail investors 2.97 times and employees 1.43 times, investment banking sources said. The IPO received over 3 lakh applications, they added. On Monday, Shalby had raised over Rs 150 crore from anchor investors. The IPO comprised a fresh issue of shares aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equities. The price band has been fixed at Rs 245-248. At the upper end, the public issue would fetch Rs 504 crore. Proceeds of the IPO will be utilised towards repayment of borrowings by the company, besides purchase of medical equipment for the existing, recently set-up as well as upcoming hospitals. In recent months, healthcare services firms like Alkem Laboratories, Dr Lal Pathlabs, Narayana Hrudayalaya, Thyrocare and Eris Lifesciences have tapped the primary market through the IPO route.

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Shalby IPO subscribed 46% as on Day 2 07/12/2017

Shalby IPO subscribed 46% as on Day 2
07/12/2017
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The initial public offer of Shalby Ltd, the Ahmedabad-based multi-specialty hospital chain, was subscribed 46 per cent as on the second day of the bidding yesterday, reported PTI. The IPO, which aims to raise Rs 504 crore, received bids for over 66 lakh shares as against the total issue size of 1.45 crore -- a subscription of 46 per cent -- data available with the National Stock Exchange (NSE) showed. The initial share sale, which opened to public subscription yesterday, will close tomorrow. Shalby on Monday raised over Rs 150 crore from anchor investors. The IPO comprises a fresh issue of shares aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equities. The price band has been fixed at Rs 245-248. At the upper end, the public issue would fetch Rs 504 crore. Proceeds of the IPO will be utilised towards repayment of borrowings by the company, besides purchase of medical equipment for the existing, recently set-up as well as upcoming hospitals. In recent months, healthcare services firms Alkem Laboratories, Dr Lal Pathlabs, Narayana Hrudayalaya, Thyrocare and Eris Lifesciences have tapped the primary market through the IPO route.

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Future Supply Chain raises Rs 195 cr from anchor investors 06/12/2017

Future Supply Chain raises Rs 195 cr from anchor investors
06/12/2017
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Future Group's logistics arm Future Supply Chain Solutions said it has garnered Rs 195 crore ahead of its initial share offer that opens today, reported PTI. The company's IPO committee has finalised allocation of over 29.35 lakh equity shares to as many as 16 anchor investors at Rs 664 per scrip, also the upper end of the price band, Future Supply Chain informed the stock exchanges. At this price, the total amount works out to be Rs 194.90 crore, it added. Among the anchor investors are HDFC Trustee Company, Reliance Capital Trustee Company, L&T Mutual Fund and IDFC Mutual Fund. Future Supply's IPO will be open for public subscription during December 6-8, at a price band of Rs 660-664 per share. The issue is a mix of fresh issuance of shares by promoters Future Enterprises, which will lead to a dilution of 4.43 per cent of their stake, as well as an offer-for-sale by private equity investor Griffin Partners aggregating to 20 per cent of equity. Together, the issuer will sell 24.43 per cent or 9,784,570 shares for up to Rs 650 crore. Edelweiss Financial Services, CLSA India, Nomura Financial Advisory and Securities (India) Pvt Ltd, IDFC Bank, IIFL Holdings and Yes Securities (India) Ltd are the book running lead managers to the offer.

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Shalby garners Rs 150 cr from anchor investors 05/12/2017

Shalby garners Rs 150 cr from anchor investors
05/12/2017
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Shalby Ltd raised over Rs 150 crore from anchor investors, ahead of its initial share-sale, which opens today, reported PTI.. The company's IPO committee has finalised allocation of 60,70,150 equity shares to 11 anchor investors at Rs 248 apiece, also the upper price band for the offer, Shalby informed to the stock exchanges. At this price, the total amount works out to be Rs 150.54 crore, it added. Among the anchor investors are Goldman Sachs, Citigroup, Reliance Nippon Life Insurance Company, Nomura and SBI Life Insurance Company. Shalby's initial public offer (IPO) will open for public subscription today and close on December 7. The IPO comprises a fresh issue of equity shares aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equity shares by the selling shareholder. The price band has been fixed at Rs 245-248 per share. At the upper end, the public issue would fetch Rs 504 crore. Proceeds of the IPO will be utilised towards repayment of borrowings availed by the company besides purchasing medical equipment for existing, recently set-up as well as upcoming hospitals.

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Future Supply Chain fixes Rs 660-664 price-band for IPO 01/12/2017

Future Supply Chain fixes Rs 660-664 price-band for IPO
01/12/2017
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The Future Group's logistics arm, Future Supply Chain Solutions, has fixed a price band of Rs 660-664 for its Rs 650-crore initial public offering (IPO) that opens on December 6, reported PTI. The issue, which is a mix of fresh issuance of shares by promoters--Future Enterprises--which will lead to a dilution of 4.43 per cent of their stake, as well as an offer-for-sale by private equity investor Griffin Partners aggregating to 20 per cent of equity. Together the issuer will sell 24.43 per cent or 9,784,570 shares with a face value of Rs 10 each, for up to Rs 650 crore. Most of the proceeds from the issue will go to Griffin while the rest to will go to the promoter group, Mayur Toshniwal, manager director of Future Supply Chain said. Griffin Partners held 40 per cent in the company and it will offload 20 per cent of this stake through the IPO, post which the PE will continue to hold 15.1 per cent, Toshniwal added. In the run-up to the IPO, SSG Capital--the parent of Griffin--had on November 20 sold 19.63 lakh shares aggregating to 4.9 per cent stake to two Edelweiss Group-managed entities--Edelweiss Crossover Opportunities Fund and EW Clover Scheme-at Rs 636.60 a share, according to an earlier exchange filing by the company. Rakesh Biyani, joint MD at Future Group told reporters yesterday that the company runs contract logistics operations through 42 distribution centres, covering around 3.84 million sqft warehouse space and also operates 2 distribution centres for customers, covering 0.37 million sqft warehouse space. Future Supply Chain had Rs 45.7 crore profit in FY17, up from Rs 29.4 crore in FY16, on a revenue of Rs 561.2 crore which rose 9.6 per cent over the previous year.

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Srei Equipment Finance files IPO papers with Sebi 30/11/2017

Srei Equipment Finance files IPO papers with Sebi
30/11/2017
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Srei Equipment Finance, a subsidiary of Srei Infrastructure Finance, has filed draft papers with markets regulator Sebi to float an initial public offering, reported PTI. The IPO comprises fresh issue of equity shares worth Rs 1,100 crore, besides, Srei Infrastructure Finance will sell up to 43,86,765 shares in an offer for sale, the listed entity said in a regulatory filing to the exchanges. Srei Equipment Finance provides loans for the purchase of equipment for construction and mining, IT infra, healthcare and farm. Earlier in September, Bharat Road Network, a Srei Infrastructure Finance company, got listed on the bourses. Srei Equipment Finance filed its preliminary papers at a time when the capital market is witnessing a spurt in initial share-sales. This year so far, 33 companies have raised over Rs 60,000 crore through IPOs. Indian equity market is heading for a record haul in 2017 in terms of money raised through IPOs as a number of big-ticket offers are already lined up for the coming weeks. So far, the highest amount of funds raised through IPOs in a full calendar year in 2010 stood at Rs 37,535 crore -- a level which has already been exceeded by a big margin in 2017. In the entire 2016, a total of 26 firms had collected more than Rs 26,000 crore through the IPO route.

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Shalby to launch Rs 540-cr IPO next week 29/11/2017

Shalby to launch Rs 540-cr IPO next week
29/11/2017
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Hospital operator Shalby Ltd. fixed the price band of Rs 245 to Rs 248 for its forthcoming Rs 504 crore initial public offer (IPO), reported PTI. The issue opens on December 5 and closes on December 7. The offer comprises a fresh issue of equity shares aggregating up to Rs 480 crore and an offer for sale of up to 10,00,000 equity shares by the selling shareholder. Proceeds of the IPO will be utilised towards repayment of borrowings availed by the company besides purchasing medical equipment for existing, recently set-up as well as upcoming hospitals, the company said. "We aim to be one of the leading healthcare service providers in India by expanding the network of hospitals owned and operated through greenfield and brownfield projects, strategic acquisitions and operation and management (O&M) arrangements," Shalby chairman and managing Vikram Shah told reporters. Shalby has 11 operational hospitals, having an aggregate bed capacity of 2,012 beds in Ahmedabad, Mumbai, Indore and Jaipur. The company has entered into a revenue sharing arrangement with the Mumbai-based Asha Parekh Hospital to construct 175 bed new hospital at a cost of Rs 120 crore. It is also establishing two new hospitals at Nasik in Maharashtra and Vadodara in Gujarat with 113 beds and 150 beds respectively. As part of expansion plans, the company also plans expand its hospital network to northern India, eastern India, and north eastern part of the country, Shah said.

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Sebi seeks clarification on Reliance General Insurance's IPO 28/11/2017

Sebi seeks clarification on Reliance General Insurance's IPO
28/11/2017
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Sebi has sought a clarification from Reliance General Insurance Company, part of Anil Ambani-led Reliance Group, on its proposed initial public offering, the latest update with markets regulator showed as per the PTI report. Without disclosing details of clarifications sought, Sebi has said 'clarifications (are) awaited fro the lead manager on the proposed public issue. As per the latest weekly update of processing status of draft offer documents filed with it, the Securities and Exchange Board of India (Sebi) said that clarifications were awaited on the company's proposed IPO as on November 24. The next update would be available on December 4. Sebi said that it might issue observations on Reliance General Insurance's IPO document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought. The regulator had last received any communication from the company on November 23. Reliance General Insurance had filed draft papers with Sebi for an initial public offer (IPO) in October. The proposed IPO comprises fresh issue of little over 16.7 million shares by the company and an offer for sale by Reliance Capital of 50.3 million shares, according to the draft papers. The company plans to utilise the proceeds from the fresh issue towards augmenting the solvency margin and consequently increase the solvency ratio. Besides, the money will be used to meet future capital requirements, which are expected to arise out of growth. At the end of March this year, Reliance General Insurance's book value stood at Rs 1,250 crore. The company's valuation is expected to be over Rs 6,000 crore, an average multiple of around five times, merchant banking sources said. Motilal Oswal Investment Advisors, Credit Suisse Securities (India), Edelweiss Financial Services and UBS Securities are the global co-ordinators and book running lead managers to the issue. Haitong Securities and IDBI Capital Markets & Securities are the book running lead managers. Reliance General Insurance, which received in-principle approval from insurance sector regulator IRDAI in September for the IPO, expects to get listed in the current financial year. Earlier this month, another group firm -- Reliance Nippon Life Asset Management -- got listed on the bourses.

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Mecon plans to go public, eyes profitability next year 27/11/2017

Mecon plans to go public, eyes profitability next year
27/11/2017
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State-run consultancy firm Mecon has plans to list its shares as soon as it turns profitable by the next year, a top company official said as per the PTI report. "(Listing) is our priority. We want to become a listed entity... to list our shares in the stock market," Mecon Chairman and Managing Director Atul Bhatt told PTI in a interview. On being asked about the time-frame and plans to take the company public, Bhatt said the decision will be taken "as soon as we turn profitable which is by next year". The company's profit after tax (PAT) which was at 78.65 crore in the first half of FY'17 came down to 5.1 crore in the second half of 2016-17. "Mecon is on the path of sustainable growth. In 2015-16, our losses were about Rs 1,060 crore. In the first six months of the year, Mecon made a (consolidated) net loss (of about Rs 80 crore)," the CMD said. Attributing the poor performance of the company to the high manpower cost, Bhatt said that soon after taking charge of the company in October last year, he went for the portfolio analysis and the projects which were reaping profits were put on fast-track. "So as a result, if you see the second six months, I mean it's a remarkable story that I reduced my losses from Rs 80 crore to only Rs 5 crore (2016-17)," Bhatt said adding that "turnover which was about Rs 90 crore, I increased it to Rs 250 crore which is more than double. And my expenses did not go up to that extent". On the decision to give promotions to employees, "You know we thought that we must motivate the employees so we gave promotions for last year which were pending," he said. In 2016-17, the company secured a order booking of Rs 1,419 crore -- all-time high in the history of Mecon. With the metals sector under stress, the company's intense focus on augmenting its non-metal business met with considerable success and business worth Rs 783 crore was secured from the diversified sectors of infrastructure, oil and gas, power, defence and space. Mecon Ltd, a public sector undertaking under the steel ministry, is an engineering, consultancy and contracting organisation, offering full range of services required for setting up of project from concept to commissioning including turnkey execution. The company has 1,465 experienced and dedicated engineers, scientists and technologists, having a network of offices spread all over the country, experienced in handling consultancy assignments and EPC projects.

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Zodiac Energy’s SME IPO to mobilize Rs 10.14 cr 24/11/2017

Zodiac Energy’s SME IPO to mobilize Rs 10.14 cr
24/11/2017
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Zodiac Energy, an energy solutions provider company having experience of more than two decades in majority of verticals of power generations spectrum, is coming out with a maiden IPO of 1950000 equity shares of Rs 10 each at a fixed price of Rs 52 per share to mobilize Rs 10.14 crore. The issue opened for subscription yesterday and will close on November 27. Minimum application is to be made for 2000 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE SME Emerge. Issue constitutes 26.65 per cent of the post issue paid up capital of the company. Issue is solely lead managed by Swastika Investmart Ltd. and Link Intime India Pvt. Ltd. is the registrar to the issue.

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Silver Touch Technologies' SME IPO to raise Rs 40.22 cr 23/11/2017

Silver Touch Technologies' SME IPO to raise Rs 40.22 cr
23/11/2017
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Silver Touch Technologies will make a public offer on the SME platform to raise Rs 40.22 crore, said the media reports. The company proposes to come with a SME IPO on NSE Emerge platform offering 33.24 lakh shares having face value of Rs 10 at a premium of Rs 111 per share. Minimum lot size for bidding is 1,000 equity shares. The issue opened on November 20, and closes on November 23.
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'RINL's IPO can be considered after it starts making profit' 22/11/2017

'RINL's IPO can be considered after it starts making profit'
22/11/2017
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Union Steel Minister Birender Singh on Tuesday said the much-delayed IPO of Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Vizag Steel, could be taken up after the steel-maker starts making profit, reported PTI. The minister also ruled out the merger talks between RINL and NMDC (National Mineral Development Corporation), another PSU under the steel ministry. "For RINL, there is no such proposal (IPO) as yet. Because RINL is not in profits now. And first RINL is also ramping up production. If that (expanded) production touches (optimum levels) and we start making profits then we may think of IPO," Singh told PTI on the sidelines of the inauguration of the 20th Asian Men's Club League Handball Championship-2017. RINL, which was earning steady profits up to 2014, has been making losses due to variety of reasons such as slowdown and cheap imports from China. It incurred Rs 1,421 crore loss on Rs 12271 crore revenues in 2015-16 and Rs 1236 crore loss in 2015-16 on turnover of Rs 12,706 crore. The steel-maker also completed expansion of the capacity from three million tonnes per annum to 6 MTPA with an investment of Rs 12,300 crore and added another one million tonne by modernising the plant with an investment of Rs 4000 crore. "RINL will reap the benefits from all these expansion programmes from 2018-19. We hope the global market would also revive giving a push to steel consumption in the country," a senior official of the PSU said. RINL had earlier said it filed the draft Red Herring Prospectus with the markets regulator SEBI for an IPO in 2012. However, the proposal for listing in bourses was deferred several times owing to several reasons. Replying to a query, the minister said the strategic disinvestment plan for the 3-million tonne steel plant is being put up by NMDC. He said about 90 per cent of the work is completed and consultants for various activities are yet to be appointed. NMDC is setting up a new Greenfield 3-million tonne per annum steel plant in Nargarnar of Chhattisgarh. The PSU has so far spent Rs 12,560 crore on the project, a senior official had said in September.

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Apollo Microsystems gets Sebi's go-ahead for IPO 21/11/2017

Apollo Microsystems gets Sebi's go-ahead for IPO
21/11/2017
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Apollo Microsystems received Sebi's go-ahead to float initial public offerings, latest update with the markets regulator showed, said the media reports. Apollo Microsystems obtained Sebi's "observations" on November 13. The firm had filed its draft papers with the regulator in September. The public issue of Apollo Microsystems comprises sale of equity shares aggregating up to Rs 156 crore. Funds raised through the issue would be used to meet additional working capital and for other general corporate purposes. Aryaman Financial Services is the sole book running lead manager to the issue. The Hyderabad-based company is in the business of designing, development and manufacturing of electronics and electro-mechanical systems including software. As per the draft papers, the company designs, develops and specialises in the production of ruggedised custom built hardware and software solutions for the aerospace, defence, space, railways, automotive and home land security sectors.

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Newgen Software gets Sebi's go-ahead for IPO 21/11/2017

Newgen Software gets Sebi's go-ahead for IPO
21/11/2017
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Newgen Software Technologies received Sebi's go-ahead to float initial public offerings, latest update with the markets regulator showed, said the media reports. Newgen obtained Sebi's "observations" on November 17. The firm had filed its draft papers with the regulator in September. Going by the draft papers, Newgen's IPO comprises fresh issue of shares aggregating up to Rs 95 crore and an offer for sale of 1,34,53,932 scrips by existing shareholders, including Ascent Capital and Pandara Trust. According to merchant banking sources, the company's initial public offer (IPO) is expected to fetch Rs 400 crore. Proceeds from the fresh issue will be utilised towards purchase and furnishing of office premises near Noida-Greater Noida Expressway in Uttar Pradesh and for other general corporate purposes. ICICI Securities and Jefferies India are global coordinators and book running lead managers, while IDFC Bank is the merchant banker to the issue. Newgen is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.

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Galaxy Surfactants files IPO papers with Sebi 15/11/2017

Galaxy Surfactants files IPO papers with Sebi
15/11/2017
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Speciality chemicals manufacturer Galaxy Surfactants has filed draft papers with markets regulator to raise an estimated Rs 1,000 crore through an initial public offer, reported PTI. During the initial share sale, as many as 307 shareholders will sell 63,31,674 shares of the company, according to the draft red herring prospectus (DRHP )filed with Sebi. According to merchant banking sources, the initial public offer (IPO) is expected to fetch Rs 1,000 crore. "The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and the sale of equity shares by the selling shareholders. "Further, our company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to its existing shareholders," the draft papers stated. ICICI Securities, Edelweiss Financial Services and JM Financial Institutional Securities will manage the company's public issue. The company's equity shares are proposed to be listed on the BSE and the NSE. This is the company's second attempt to go public. Earlier in 2011, Galaxy Surfactants had entered the capital markets to raise over Rs 200 crore through an initial share sale. However, it withdrew from the IPO market due to tepid response from investors.

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Khadim India lists at 3% discount 14/11/2017

Khadim India lists at 3% discount
14/11/2017
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Footwear retailer Khadim India made a quite debut on the Bombay Stock Exchange by listing at Rs 727, down 3 per cent against its initial public offer (IPO) price of Rs 750 per share. The price band has been fixed at Rs 745-750 per share and at the upper end, the public issue would fetch up to Rs 543 crore. The company, which had got overwhelming response for its Rs 543 crore initial public offering that was subscribed over 1.9 times earlier this month, was listed at its issue price of Rs 730 per share on the National Stock Exchange. After making a tepid debut, shares of company fell sharply, touching an intra-day highs and lows of Rs 740.00 and Rs 706.15 on the BSE. In the day’s trade so far, as much as 3.22 lakh shares have changed hands over the counter on BSE. “The equity shares of Khadim India Ltd (Scrip Code: 540775) 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 company intends to use net proceeds from the issue would be utilised towards payment of loans and general corporate purposes. Axis Capital and IDFC Bank are the book running lead managers to the issue. Meanwhile, the broader benchmark BSE Sensex was trading at 32,918.76, down 114.80 points, or 0.35 per cent, at 12:30 hours.

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Prince Pipes and Fittings gets Sebis go ahead for IPO 13/11/2017

Prince Pipes and Fittings gets Sebis go ahead for IPO
13/11/2017
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Prince Pipes and Fittings has received Sebis go ahead to raise an estimated Rs 800 crore through an initial public offering, latest update with market regulator showed, reported PTI.
The firm had filed draft papers with Sebi in September and obtained its "observations" on November 3, which is very necessary for any company to launch a public offer.
Going by the draft papers, Prince Pipes and Fittings public issue comprises fresh issue of shares worth up to Rs 500 crore besides an offer for sale by the companys promoters -- Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda and Vipul Jayant Chheda.
As per the merchant banking sources, the companys initial public offer (IPO) is expected to garner Rs 800 crore. JM Financial Institutional Securities Ltd and Edelweiss Financial Services Ltd are the book running lead managers to the issue.

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Mahindra Logistics makes tepid debut; falls below issue price 10/11/2017

Mahindra Logistics makes tepid debut; falls below issue price
10/11/2017
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Mahindra Logistics, the subsidiary of Mahindra & Mahindra, made a quite debut on the Bombay Stock Exchange by listing at Rs 432 against its initial public offer (IPO) price of Rs 429 per share. The logistics solutions provider, which had got overwhelming response for its Rs 829.35 crore initial public offering that was subscribed over 7.9 times earlier this month, was listed at its issue price of Rs 429 per share on the National Stock Exchange. After making a tepid debut, shares of company moved in a tight range and touched an intra-day highs and lows of Rs 433.95 and Rs 416.55 on the BSE. In the day’s trade so far, as much as 13.53 lakh shares have changed hands over the counter on BSE. “The equity shares of Mahindra Logistics Ltd (Scrip Code: 540768) 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 company has fixed a price band of Rs 425-429 for its initial share sale offering. Meanwhile, the broader benchmark BSE Sensex was trading at 33,163.69, down 87.24 points, or 0.26 per cent, at 14:45 hours.

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HDFC Life IPO subscribed 4.89 times 10/11/2017

HDFC Life IPO subscribed 4.89 times
10/11/2017
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HDFC Standard Life Insurance Company's initial public offer (IPO) was subscribed 4.89 times on the closing day of bidding, reported PTI. The Rs 8,695-crore IPO, received bids for 1,07,50,87,700 shares against the total issue size of 21,97,59,218 shares, according to NSE data. The category reserved for qualified institutional buyers (QIBs) was subscribed 16.60 times, non institutional investors 2.29 times and retail investors 91 per cent, merchant banking sources said. The IPO received 11.37 lakh applications, they added. HDFC Standard Life Insurance Company on Monday raised Rs 2,322 crore from anchor investors. Price band for the offer has been fixed at Rs 275-290 per share. 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. At present, HDFC owns 61.41 per cent stake in HDFC Standard Life and Standard Life has about 34.86 per cent stake, while the remaining is with employees and PremjiInvest. Morgan Stanley India Company, HDFC Bank, Credit Suisse Securities (India), CLSA India and Nomura Financial Advisory and Securities (India) are the global coordinators and book running lead managers to the offer.

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HDFC Standard Life IPO oversubscribed 1.17 times on Day 2 09/11/2017

HDFC Standard Life IPO oversubscribed 1.17 times on Day 2
09/11/2017
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The initial public offer of HDFC Standard Life Insurance Company was oversubscribed 1.17 times on the second day of bidding, reported PTI. The IPO, estimated to raise Rs 8,695 crore, received bids for 25,78,71,850 shares against the total issue size of 21,97,59,218 shares, as per NSE data. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 3.69 ties, non institutional investors 50 per cent and retail investors 36 per cent. Till yesterday, the IPO got subscribed 46 per cent. HDFC Standard Life Insurance Company on Monday raised Rs 2,322 crore from anchor investors. Price band for the offer, which will close tomorrow, has been fixed at Rs 275-290 per share. 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. At present, HDFC owns 61.41 per cent stake in HDFC Standard Life and Standard Life has about 34.86 per cent stake, while the remaining is with employees and PremjiInvest. Morgan Stanley India Company, HDFC Bank, Credit Suisse Securities (India), CLSA India and Nomura Financial Advisory and Securities (India) are the global coordinators and book running lead managers to the offer.

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HDFC Standard Life mops up Rs 2,322 cr from anchor investors 07/11/2017

HDFC Standard Life mops up Rs 2,322 cr from anchor investors
07/11/2017
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HDFC Standard Life Insurance Company today raised Rs 2,322 crore from anchor investors, ahead of its initial public offer today, reported PTI. Singapore's sovereign wealth fund Temasek, Norwegian fund Norges, Kuwait Investment, T Rowe Price, Fidelity, Blackrock and JP Morgan are among the anchor investors, according to a regulatory filing. The shares have been allocated at the upper price band of Rs 290 apiece. The company's executive committee and the promoter selling shareholders in consultation with the manager to the offer have finalised allocation of 80,068,600 shares to anchor investors, the filing submitted to the NSE said. Price band for the offer has been fixed at Rs 275-290 per share. 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. At present, HDFC owns 61.41 per cent stake in HDFC Standard Life and Standard Life has about 34.86 per cent stake, while the remaining is with employees and PremjiInvest.

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