Posts in category Business Standard
Fairfax-backed Go Digit receives Sebi’s approval to raise funds via IPO (04-03-2024)
Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, has received Sebi's go-ahead to raise funds through an initial public offering (IPO), an update with the regulator showed on Monday.
The approval came after the company's preliminary IPO papers were first filed in August 2022.
Go Digit's proposed IPO comprises fresh issuance of shares worth Rs 1,250 crore and an Offer For Sale (OFS) of 10.94 crore shares by promoter Go Digit Infoworks Services and existing shareholders, according to the draft red herring prospectus (DRHP).
Proceeds from the fresh issuance would be utilised for the augmentation of the company's capital base and maintenance of solvency levels and for general corporate purposes.
Cricketer Virat Kohli and his wife and actor Anushka Sharma are among the investors in the firm.
According to an update with the Sebi (Securities and Exchange Board of India) on Monday, the regulator gave its observation on March 1.
In Sebi's parlance, obtaining ..
JG Chemicals collects Rs 75 crore from anchor investors ahead of IPO (04-03-2024)
Zinc oxide manufacturer JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors, a day before its initial public offering (IPO).
The company has allotted 34.09 lakh shares to four funds at Rs 221 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website.
At this price, the company has garnered Rs 75.36 crore from anchor investors.
Massachusetts Institute of Technology, Carnelian Structural Fund, Pinebridge Global Funds and SBI General Insurance Company were among the anchor investors.
The initial share sale, with a price band of Rs 210-221 apiece, will open for public subscription during March 5-7.
The Rs 251.2 crore IPO comprises a fresh issue of equity shares worth up to Rs 165 crore and an offer-for-sale (OFS) of 39 lakh equity shares aggregating to Rs 86.2 crore, at the upper end of the price band, by the promoter group.
As part of the OFS, Vision Projects & Finvest Pvt Ltd, Suresh Kumar Jhunjhunwala .
Mukka Proteins IPO receives 136.89 times subscription on last day of offer (04-03-2024)
The initial share sale of Mukka Proteins, which manufactures fish meal, fish oil and fish soluble paste, received 136.89 times subscription on the last day of bidding on Monday.
The Rs 224 crore-Initial Public Offer (IPO) got bids for 7,66,57,65,155 shares against 5,60,00,435 shares on offer, according to data available with the NSE.
The portion for non-institutional investors got subscribed 250.26 times, while the portion for Qualified Institutional Buyers (QIBs) received 189.28 times subscription. The quota for Retail Individual Investors (RIIs) fetched 58.36 times subscription.
The company fixed the price band at Rs 26-28 a share for the IPO. The issue was entirely a fresh issue with no Offer For Sale (OFS) component.
Mukka Proteins on Wednesday raised a little over Rs 67 crore from anchor investors.
Of the total proceeds, Rs 120 crore will be used towards working capital requirements and up to Rs 10 crore for investment in its associate, Ento Proteins, for funding its working
LTIMindtree’s Fosfor division launches Fosfor Decision Cloud (04-03-2024)
To help companies harness the power of AI
Investors subscribe R K Swamy IPO 2.18 times on first day of bidding (04-03-2024)
The initial public offering of integrated marketing services firm R K Swamy was subscribed 2.18 times on the first day of bidding on Monday.
The Rs 423.56 crore-initial share sale received bids for 1,79,73,350 shares against 82,32,946 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) got subscribed 7.84 times and non-institutional investors part received 2.97 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 1 per cent.
The Initial Public Offering (IPO) has a fresh issue of up to Rs 173 crore and an Offer For Sale (OFS) of up to 87 lakh equity shares worth Rs 250.56 crore at the upper end of the price band.
The IPO comes in a price range of Rs 270-288 a share.
RK Swamy Ltd on Friday said it has collected Rs 187 crore from anchor investors.
Funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aide
Tanla launches MaaP platform to support Google RCS Business Messaging for telcos (04-03-2024)
Signs MoU with Vodafone Idea Business Services to deploy MaaP platform in India
Madhav infra projects receives LoA of Rs 20.74 cr (04-03-2024)
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Jindal Stainless commences maiden usage of green hydrogen at its Hisar plant (04-03-2024)
Jindal Stainless (JSL) today commenced the maiden usage of green hydrogen in its stainless steel plant in Hisar, Haryana in a ground-breaking venture in line with its commitment to sustainability and India's targets of achieving Net Zero carbon emissions.
Brigade Group launches 50-acre township project in Bangalore (04-03-2024)
Dioro at Brigade El Dorado is expected to be completed by Q2 FY 29, and as part of the township comes with a diverse range of over 80 amenities, a hospital, a central park, a multiplex, sports and retail facilities. Situated within the KIADB Aerospace Park, the project is just 15 minutes away
from Kempegowda International Airport and has many other commercial establishments, IT Parks, and the upcoming airport metro in its vicinity.
Tata Motors to demerge its businesses into two separate listed companies (04-03-2024)
Shareholders will maintain the same ownership proportion in both new companies.