Posts in category Business Standard
Azad Engineering receives Sebi’s approval to raise Rs 740 crore IPO (14-12-2023)
Azad Engineering Ltd has received capital markets regulator Sebi's go-ahead to raise Rs 740-crore through an initial public offering (IPO).
The Hyderabad-based firm, which filed its preliminary IPO papers in September, obtained the regulator's observation letter on December 5, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday.
In Sebi's parlance, obtaining its observation letter means its go-ahead to float an IPO.
According to the draft papers, the company's IPO comprises a fresh issue of up to Rs 240 crore and an offer for sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors.
The OFS consists of sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, Rs 280 crore by Piramal Structured Credit Opportunities Fund, and Rs 50 crore by DMI Finance.
Proceeds from the fresh issue will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes.
Azad ..
Auto component maker Happy Forgings to launch Rs 1,008 crore IPO on Dec 19 (14-12-2023)
Auto components maker Happy Forgings Ltd on Thursday fixed a price band of Rs 808 to 850 per share for its Rs 1,008 crore-Initial Public Offering (IPO).
The maiden public issue will open for subscription from December 1921, and the anchor book will be opened for a day on December 18.
The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an Offer For Sale (OFS) of up to 71.6 lakh shares by a promoter and a selling shareholder.
Paritosh Kumar Garg (HUF) and India Business Excellence Fund III are the selling shareholders in the OFS.
Proceeds from the fresh issue will be utilised towards the purchase of equipment, plants, and machinery, the payment of debt and a portion of the funds will also be used for general corporate purposes.
Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers.
Investors can bid for a minimum of 17 equity shares and in multiple
HUDCO zooms 20% on heavy volumes; stock up 51% from OFS price in 2 months (14-12-2023)
The average trading volumes at the counter jumped four-fold with a combined 181 million equity shares of HUDCO changing hands on the NSE and BSE till 02:48 PM.
Market cap of BSE-listed firms jumps to record high of Rs 354.41 trillion (14-12-2023)
The market capitalisation of BSE-listed companies surged to an all-time high of Rs 354.41 lakh crore in early trade on Thursday, with investors becoming richer by Rs 3.22 lakh crore, as the benchmark Sensex hit its all-time high level driven by a rally in global equities.
Global markets rallied after the US Federal Reserve kept its key interest rate unchanged and signalled that they expect to make three quarter-point cuts to their benchmark interest rate next year.
The 30-share BSE Sensex jumped 955.4 points to hit its all-time peak of 70,540 during the early trade.
The market capitalisation (mcap) of BSE-listed firms hit a record high of Rs 3,54,41,617.18 crore during the early trade. Investors' wealth climbed by Rs 3,22,385.27 crore from Rs 3,51,19,231.91 crore on Wednesday.
Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Tech Mahindra, Wipro and IndusInd Bank were the major gainers.
Power Grid, Asian Paints, Nestle and Hindustan Unilever were among the ...
Booming Indian coal demand driving up the shares of state-run giants (14-12-2023)
NTPC, which produces mostly coal-fired power, has surged 78%, far ahead of a gain of 17% in the broader Nifty Index, while shares of Coal India are up 55% for their best year in 2023
US Fed keeps policy rates unchanged for 3rd time: Here’re 5 key takeaways (14-12-2023)
A near unanimous 17 of 19 Fed officials project that the policy rate will be lower by the end of 2024 than it is now
Fusion Micro Finance surges 8% after 10% equity change hands on BSE (14-12-2023)
Till 09:24 AM; around 10.30 million equity shares representing 10.2 per cent of total equity of Fusion had changed hands on the BSE, the exchange data shows.
Stocks to Watch: IRCTC, Fusion, Ultratech, Uno Minda, NBCC, SBI, RBL Bank (14-12-2023)
Stocks to Watch on December 14, 2023: IRCTC is eyeing a major expansion in the non-railway catering business
Stock Market LIVE: Broader indices trail benchmarks; IT, Realty stks surge (14-12-2023)
Stock market LIVE update on December 14, 2023: Among sectors, all the indices were edging higher led by the Nifty IT and Realty indices (up 3 per cent each)
Nifty Metal eyes consolidation, Nifty Pharma trades with negative bias (14-12-2023)
The advised strategy for the Nifty Metal index is to buy near support levels and sell near resistance