Posts in category Business Standard
Sebi increases scrutiny of IPO documents over use of funds: Report (12-02-2024)
As per Sebi rules, funds raised via IPOs can be used for capital expenditure, debt reduction, general corporate purposes and acquisitions
Bitcoin Surges to $50,000 for the First Time Since 2021 on ETF Demand (12-02-2024)
The original cryptocurrency has tripled in value since the start of last year, climbing back from a 64% plunge in 2022
Park Hotels gains 30%; Radhakrishnan appointed CEO of Sundaram AMC (12-02-2024)
Radhakrishnan, who was formerly the Chief Investment Officer (Equity) at Franklin Templeton India, will also take over as the Managing Director (MD) in July 2024
MSCI rebalancing exercise likely to drive $1 billion in domestic stocks (12-02-2024)
Despite the positive trigger, shares of NHPC, NMDC, PNB and Bhel fell sharply on Monday amid a broad-based selling in shares of PSUs
IPO-bound Arkade Developers plans Rs 700 cr investment in 3 projects (12-02-2024)
City-based builder Arkade Developers will be investing around Rs 700 crore in three projects in the megapolis that are expected to be completed over the next three to four years.
Last week, the company received the regulatory nod to launch a Rs 430 crore initial share sale and part of the proceeds will be used for the investment.
"We have earmarked Rs 698 crore for three new projects in the city -- Arkade Nest in Mulund (West), Deep Shikhar C Unit in Goregaon (East) and Prachi in Vile Parle (East).
"Phase 1 of Arkade Nest is a luxury project and is already on. Going forward, our focus is on blended model of greenfield and redevelopment. The Goregaon and Malad projects are redevelopment units," Amit Jain, Chairman and Managing Director of Arkade, told PTI on Monday.
Currently, the company has five ongoing projects.
Arkade Nest is a Rs 427 crore-project while Prachi and C Unit projects will be worth Rs 178 crore and Rs 94 crore, respectively, totalling the overall investment at Rs
Entero Healthcare’s Rs 1,600 cr IPO subscribed 19% on second day of offer (12-02-2024)
The initial share sale of healthcare products distributor Entero Healthcare Solutions received a 19 per cent subscription on the second day of bidding on Monday.
The Rs 1,600 crore-Initial Public Offering (IPO) got bids for 13,85,604 shares against 71,50,100 on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) got subscribed 88 per cent while the quota for non-institutional investors received 9 per cent subscription.
The portion for the Qualified Institutional Buyers (QIBs) have almost remained unsubscribed.
The IPO is a combination of fresh issue of up to Rs 1,000 crore and an Offer For Sale (OFS) of up to 47,69,475 equity shares, aggregating up to Rs 600 crore at the upper end of the price band.
Price range for the offer is Rs 1,195-1,258 per share.
Entero Healthcare Solutions has collected Rs 716 crore from anchor investors.
Proceeds from the fresh issue will be used towards payment of debt, funding working capital requirements, pursuing inorganic gr
India bond yields fall as focus shifts to key inflation numbers: Report (12-02-2024)
Last week, the RBI kept policy rates and stance unchanged, while reiterating its commitment to meet the medium-term 4% inflation target
Global carbon markets value hits record $949 bn in 2023, shows data (12-02-2024)
The world's most valuable carbon market, the EU's ETS, was worth around 770 billion euros last year, up 2% from the previous year and representing 87% of the global total
Red-hot smallcaps, PSUs run into rough weather; Sensex falls 523 points (12-02-2024)
Profit-taking on valuation concerns triggers collapse
Gopal Snacks, 2 other firms get Sebi’s nod to raise fund through IPO (12-02-2024)
Gopal Snacks Ltd, piping solutions provider Dee Development Engineers and construction firm SRM Contractors have received Sebi's go-ahead to raise funds through initial public offering (IPO).
The three companies, which filed their preliminary IPO papers with the markets regulator between October and November 2023, obtained its observations during February 7-9, an update with the Securities and Exchange Board of India (Sebi) showed on Monday.
In Sebi's parlance, receiving observations from the regulator means its go-ahead to float the maiden public issue.
According to the draft red herring prospectus (DRHP), Gopal Snacks' proposed issue is entirely an Offer For Sale (OFS) of equity shares worth Rs 650 crore by promoters and other selling shareholders.
The OFS comprises sale of shares worth up to Rs 100 crore by Bipinbhai Vithalbhai Hadvani, up to Rs 540 crore by Gopal Agriproducts Pvt Ltd and up to Rs 10 crore by Harsh Sureshkumar Shah.
Founded in 1999, Gopal Snacks is a fast-movin