Posts in category Business Standard
JG Chemicals’ Rs 251.2 crore IPO subscribed 6.39 times on Day 2 of offer (06-03-2024)
The initial share sale of JG Chemicals received 6.39 times subscription on the second day of bidding on Wednesday.
The Rs 251.2 crore-initial public offer received bids for 5,21,75,446 shares against 81,68,714 shares on offer, according to data available with the NSE.
The quota for non-institutional investors fetched 9.63 times subscription while the Retail Individual Investors (RIIs) part got subscribed 8.30 times. The category for Qualified Institutional Buyers (QIBs) received 45 per cent subscription.
The zinc oxide manufacturer's Initial Public Offer (IPO) has a fresh issue of up to Rs 165 crore and an offer-for-sale of up to 39 lakh equity shares.
Its price range is fixed at Rs 210-221 a share.
JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors.
Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals' material subsidiary BDJ Oxides and Rs 35 crore will be used for funding the long-term working .
Investors dump NBFC stocks, shift money to banking ones amidst RBI fears (06-03-2024)
Analysts said investors fear that the surveillance will likely spread throughout the industry, and more might be the targets of the regulator's ire
Benchmark indices log new highs but Nifty Smallcap 100 index falls 2% (06-03-2024)
Sensex ends above 74k for the first time; Nifty Smallcap drop 2%
Women fund managers handle 12.63% of mutual fund assets: Morningstar (06-03-2024)
Of them, 93.5% outperform peers over a five-year period
Popular Vehicles sets price band at Rs 280-295 for its Rs 602 crore IPO (06-03-2024)
Kochi-based Popular Vehicles and Services, engaged in the automotive dealerships and services space, on Wednesday fixed Rs 280-295 as the price band for its Rs 602-crore initial share sale that opens on Tuesday next week.
The issue consists of Rs 250 crore of fresh issue and Rs 352 crore of offer for sale by the promoters led by Naveen Philip, the managing director of the company, and his Kuttukaran family, which now holds 69 per cent of the company.
Promoter Banyan Tree Growth Capital is selling 19 per cent of its 29 per cent ownership in the company.
Post-issue, the promoters' shareholding will fall to 61 per cent while that of Banyan Tree will come down to 10 per cent, John Verghese, the chief financial officer of the company, told PTI here.
Banyan Tree has been with Popular since 2015 when it had picked up 33 per cent for Rs 65 crore. In the run-up to the issue, the PE had sold 3 per cent at Rs 355 a share back to the company.
According to Verghese, the floor price is 140 time
Life Insurance Corporation hikes stake in LIC MF (06-03-2024)
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Indiabulls Housing Finance receives upgrade in credit ratings from Moody’s (06-03-2024)
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Infosys renews digital innovation partnership with ATP Tour until 2026 (06-03-2024)
Since the partnership's inception in 2015, Infosys and ATP have collaborated to deploy rich and innovative digital assets for ATP, including reinventing the legacy ATP PlayerZone intranet portal, launching the first
ever ATP Tour fan app, and several AI-first features powered by Infosys Topaz across the Infosys ATP Stats Center. These platforms have enhanced live match viewing and tennis data analysis with rich insights that have led to a 50% increase in traffic on the stats section of the ATP website year-on-year. It has seen over 5.7 million digital engagements from fans worldwide for its rich content including rally analysis, 3D
visualizations, stroke summaries, and many point-by-point insight tools. Building on this success, Infosys and ATP will now focus on new innovations powered by AI and data to personalize experiences for players and fans.
Singapore Market rebounds 0.93% (06-03-2024)
At closing bell, the Straits Times Index (STI) index was up 29.04 points, or 0.93% to 3,136.14 after trading between 3,114.43 and 3,151.08. Volume of 1.48 billion shares worth S$1.24 billion changed hands. Across the broader market, advancers outpaced decliners 368 to 232.
RK Swamy IPO subscribed 25.78 times (06-03-2024)
The offer received bids for 21.22 crore shares as against 82.32 lakh shares on offer.