Posts in category Business Standard
Attractive spreads drive arbitrage funds to better returns in 2023 (02-01-2024)
Staged strong comeback last year, stole march over debt funds to post best performance in 8 years
Esconet Technologies files draft papers to raise funds through IPO (02-01-2024)
Integrated IT solutions company Esconet Technologies on Tuesday said it has filed draft papers to mobilise funds through an initial public offering.
The initial public offering (IPO) is entirely a fresh issuance of up to 33,60,000 equity shares, with a face value of Rs 10 each, and the shares of the company are proposed to be listed on Emerge platform of the NSE, the company said in a statement.
Corporate Capital Ventures is the sole book running lead manager, while Skyline Financial Services is the registrar for the issue.
Esconet proposes to utilise the proceeds from the issue towards working capital requirements of the company and invest in its wholly-owned subsidiary ZeaCloud Services to fund its capital expenditure expenses, as per the draft documents.
A portion of the proceeds will also be used for the general corporate purposes.
Founded in 2012 by second-generation entrepreneurs Santosh Kumar Agrawal and Sunil Kumar Agrawal, Esconet Technologies has been in the business of
Divine Power Energy to launch IPO by March; eyes Rs 100 cr turnover by 2026 (02-01-2024)
Insulated wires and strips maker Divine Power Energy on Tuesday announced its plan to go public this year and raise funds from capital market to expand capacity as the company aims to increase turnover to Rs 400 crore by 2026.
The Ghaziabad-based company intends to expand its production capacity by raising capital through an initial public offering (IPO), which is likely to take place in mid-February or early March of this year, Divine Power Energy Ltd ((DPEL) said in a statement.
According to the statement, DPEL aims to achieve Rs 400 crore in revenue by March 2026. The company targets to double the revenue to Rs 300 crore by 2025 from Rs 150 crore in FY23.
Rajesh Giri, Managing Director, DPEL, said in the statement, "We aspire to be a market leader in the manufacturing of insulated copper and aluminum wires and strips, setting benchmarks for quality and sustainability."
He further stated that raising funds from capital markets will unlock the company's full potential by expanding
VST Industries freezes in 20% upper circuit as 3% equity changes hands (02-01-2024)
As of 12:04 PM; as many as 449,389 equity shares, representing 2.9 per cent of total equity of VST Industries, changed hands on the BSE, exchange data showed
Rally in tech stocks in India faces earnings test as growth worries linger (02-01-2024)
While the rally was initially driven by a global rebound in tech stocks, the Federal Reserve's dovish pivot at the December policy meeting turbocharged the run
5 Reasons why Sensex fell 650 pts, Nifty below 21,600 intra-day on Tuesday (02-01-2024)
The S&P BSE Sensex fell over 650 points, while the NSE Nifty 50 shed nearly 200 points in intra-day trades on Tuesday, January 02.
YES Bank hits 52-week high in dismal trade; stock soars 14% in 4 days (02-01-2024)
In the past two months, the stock has zoomed 48% and is currently trading at its highest level since December 2022
JBM Auto rallies 23% in 3 days on plan to deliver 2,000 e-buses in FY24 (02-01-2024)
At 10:44 AM; the stock was trading 3 per cent higher at Rs 1,670 on the BSE. In comparison, the S&P BSE Sensex was down 0.67 per cent at 71,787
Bitcoin surpasses $45,000 for 1st time in 2 yrs on ETF approval hope (02-01-2024)
Bitcoin has risen over 20 per cent since the start of December as a Jan. 10 deadline for the US Securities and Exchange Commission to give its blessing for a spot ETF Bitcoin draws closer.
Lemon Tree Hotels surges 9% to record high on strong earnings expectations (02-01-2024)
A combined 17.23 million equity shares, representing 2.17 per cent of total equity of Lemon Tree, changed hands in the first 40 minutes of trade on the NSE and BSE