Posts in category All News
SKS Microfinance Limited – Updates (26-08-2015)
Army ad errs on 1965 war history, makes amends (26-08-2015)
Infosys, HCL Technologies top picks in IT space: Religare (26-08-2015)
![Infosys, HCL Technologies top picks in IT space: Religare Infosys, HCL Technologies top picks in IT space: Religare](http://www.moneycontrol.com/news_image_files/IT_Services1_190.jpg)
Market Pandemonium – Stick to Quality, says ICICIdirect (26-08-2015)
![Market Pandemonium - Stick to Quality, says ICICIdirect Market Pandemonium - Stick to Quality, says ICICIdirect](http://www.moneycontrol.com/news_image_files/2015/b/Bse_people_stock_exchnge_markets_200x200.jpg)
LIC buys addl 2.19% stake in Andhra Bank in 4 yrs to Aug 2015 (26-08-2015)
State-run Andhra Bank today said LIC has acquired an additional 2.19 per cent stake in the bank through open market operations during 2011 to 2015.
After the acquisition, LIC’s total stake in Andhra Bank now stands at 11.48 per cent, the bank said in a filing to the BSE.
The equity share capital/total voting capital of Andhra Bank before the said acquisition of shares by LIC was at Rs 559.58 crore and it increased to Rs 602.84 crore after the acquisition, it added.
The additional stake by LIC took place during June 22, 2011 till August 24, 2015, the filing said.
Andhra Bank shares closed 2.68 per cent lower at Rs 63.45 apiece on the BSE today.
IPO Navkar Corp IPO over-subscribed (26-08-2015)
The Rs 600-crore initial public offering (IPO) of logistics firm Navkar Corporation was over-subscribed by 2.75 times today, the last day of subscription.
The IPO received bids for 7.85 crore shares as compared to 2.86 crore equity scrips on offer, translating into a subscription of 2.75 times, according to data available with the National Stock Exchange (NSE) till 1600 hours.
The bidding for the IPO, which started on August 24, would conclude today. The price band for the issue has been fixed at Rs 147-155 per share.
Retail portion got a subscription of 60 per cent, while Qualified Institutional Buyers (QIBs) and non-institutional investors categories were subscribed by 19 per cent and two per cent, respectively, till yesterday.
The company had allotted 1.16 crore equity shares to 15 anchor investors – Morgan Stanley, Nomura, HDFC MF, SBI MF, Reliance MF, Franklin, IDFC, Sundaram MF, L&T MF, Kotak MF, Prime India, Amundi, Ashbunon India, Abudhabi Investment Authority.
Maharashtra-based Navkar Corp plans to mobilise up to Rs 510 crore by issuing fresh equity shares and rake in up to Rs 90 crore through sale of existing shares.
The funds would be used for capacity enhancement of the Somathane container freight station (CFS), development of the non-notified areas of CFSs and establishment of a logistics park at Valsad in Gujarat.
The issue is being managed by Axis Capital, SBI Capital Markets and Edelweiss Financial Services.