Posts in category Business Standard
Shapoorji Pallonji Group’s Afcons Infra files papers for Rs 7,000-cr IPO (29-03-2024)
Shapoorji Pallonji Group's flagship infrastructure engineering and construction company Afcons Infrastructure Ltd (AIL) has filed draft papers with markets regulator Sebi to raise Rs 7,000 crore through an initial public offering (IPO).
The company's mega IPO is a combination of fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 5,750 crore by promoter Goswami Infratech Private Limited. Also, the offer includes a reservation for subscriptions by eligible employees, according to the draft red herring prospectus (DRHP) filed on Thursday.
Currently, promoter and promoter group entities own 99.48 per cent stake in Maharashtra-based Afcons Infrastructure.
Moreover, the company may consider raising up to Rs 250 crore in the "pre-IPO placement" round. If such placement is completed, the fresh issue size will be reduced.
Founded in 1865, Shapoorji Pallonji Group (SP Group) is a diversified institution, and has a leading presence in engineering & ...
SBI to L&T: NSE revises F&O lot size of derivative contracts for 54 stocks (29-03-2024)
Exchange has cut the lot size for the futures and options contracts of 42 stocks to half of the current lot sizes. The revised lot sizes will be effective from 26 April for expiries in May or later
Rupee most stable Asian currency in FY24 after Singapore, Hong Kong (29-03-2024)
Record inflows keep bond, currency market steady
Government orders mandatory declaration of stock position of wheat (29-03-2024)
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Astra Microwave bags order worth Rs 385 cr (29-03-2024)
Astra Microwave Products said that it has received orders worth Rs 385.58 crore from Bharat Electronics, Ghaziabad for supply of MPR sub systems.
FPIs make remarkable comeback; infuse Rs 2 trillion in equities in FY24 (29-03-2024)
Foreign investors made a strong return by injecting more than Rs 2 lakh crore into Indian equities in 2023-24, driven by optimism surrounding the country's robust economic fundamentals amidst a challenging global environment.
Looking forward to 2025, Bharat Dhawan, Managing Partner at Mazars in India, said that the outlook is cautiously optimistic and anticipates sustained FPI inflows supported by progressive policy reforms, economic stability, and attractive investment avenues.
"However, we remain mindful of global geopolitical influences that may introduce intermittent volatility, emphasising the importance of strategic planning and agility in navigating market fluctuations," he added.
The outlook for FY25 from an FPI perspective, continues to remain strong, Naveen KR, smallcase Manager and Senior Director at Windmill Capital, said.
In the current fiscal 2023-34, Foreign Portfolio Investors (FPIs) have made a net investment of around Rs 2.08 lakh crore in the Indian equity marke
Rites bags order worth Rs 33 crore for railway signaling project (29-03-2024)
Rites announced that it has secured additional scope under existing order of replacement of mechanical signaling from Northern Railway.
Ecos (India) Mobility files draft paper with Sebi to mop up funds via IPO (29-03-2024)
Chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality Ltd has filed preliminary papers with capital markets regulator Sebi to garner funds through an initial public offering (IPO).
The maiden public issue is entirely an offer for sale (OFS) of 1.8 crore equity shares by promoters -- Rajesh Loomba and Aditya Loomba -- with no fresh issue component, according to the draft red herring prospectus (DRHP) filed on Thursday.
At present, promoters and promoter group entities hold 100 per cent stake in the company.
Since it is an OFS, the Delhi-based firm will not receive any proceeds from the IPO and the money will go to the promoters selling shares.
The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides specialty vehicles such as luggage vans, limousines, vintage cars and vehicles for
ICRA reaffirms LT rating of Royal Orchid Hotels with ‘stable’ outlook (29-03-2024)
Royal Orchid Hotels said that the credit rating agency ICRA has reaffirmed the company's long-term (LT) rating at '[ICRA] A-' with 'stable' outlook.
GE Shipping inks deal to buy medium range product tanker (29-03-2024)
Great Eastern Shipping Company announced that it has signed a contract to buy a medium range (MR) product tanker of about 51,486 deadweight tonnage (dwt) on 28 March 2023.