Posts in category Business Standard
Tata Steel update on scheme of amalgamation (07-02-2024)
Board of Tata Steel and TRF decide to terminate amalgamation process
Rashi Peripherals’ Rs 600 cr IPO fully subscribed on Day 1 of offer (07-02-2024)
The initial public offer of information and communications technology products distributor Rashi Peripherals got fully subscribed on the first day of bidding on Wednesday.
The IPO received bids for 1,54,17,936 shares against 1,42,37,289 shares on offer, garnering a 1.08 times subscription, as per NSE data.
The portion for non-institutional investors subscribed 1.87 times, while the quota for retail individual investors (RIIs) received 1.36 times subscription. The category for qualified institutional buyers (QIBs) got subscribed 1 per cent.
The Rs 600-crore initial public offer (IPO) is in a price range of Rs 295-311 a share. The IPO is completely a fresh issue of equity shares.
Rashi Peripherals on Tuesday mobilised Rs 180 crore from anchor investors.
Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes.
Last month, Rashi Peripherals raised Rs 150 crore from ...
Larsen & Toubro wins multiple orders under its power transmission and distribution biz (07-02-2024)
The business has bagged an order to establish a 75MW Floating Solar PV plant on the Panchet Dam. This plant forms part of the Ultra Mega Renewable Energy Power Park being developed on Damodar Valley corporation reservoirs in Jharkhand and West Bengal.
Capital Small Finance Bank’s Rs 523 cr IPO subscribed 50% on Day 1 of offer (07-02-2024)
The initial share sale of Capital Small Finance Bank Ltd received 50 per cent subscription on the first day of bidding on Wednesday.
The Rs 523 crore-IPO got bids for 40,77,696 shares against 81,47,373 shares on offer, as per data available with the NSE.
The portion for Retail Individual Investors (RIIs) got subscribed 67 per cent while the quota for non-institutional investors received 38 per cent subscription. The category for Qualified Institutional Buyers (QIBs) got subscribed 29 per cent.
The Initial Public Offering (IPO) has a fresh issue of up to Rs 450 crore and an offer for sale of up to 15,61,329 equity shares.
Those selling shares in the OFS include Oman India Joint Investment Fund II, American Capital, and Amicus Capital Private Equity.
The IPO comes in a price range of Rs 445-468 a share.
Capital Small Finance Bank on Tuesday collected Rs 157 crore from anchor investors.
It will utilise the proceeds from the fresh issue towards augmenting the tier-I capital base to
Intellect inks deal with VakifBank International AG (07-02-2024)
For core banking transformation
Sarveshwar Foods to distribute ‘Bharat’ brand Rice in Jammu & Kashmir (07-02-2024)
Bharat' brand is a central government strategic initiative to sell high-quality pulses, rice and other essential commodities directly to general public at subsidised price. Bharat' brand is an ambitious scheme whereby Government of India is aiming to stabilise prices, curb food inflation, and augment domestic availability, of quality food items across India.
Mutual funds shareholding in listed firms at new high on strong net inflows (07-02-2024)
The gap between FPI and DII holdings narrowed to an all-time low in December, with DII holding being 12.2 per cent lower than the FPI holding
GPT Infraprojects wins order of Rs 114 cr (07-02-2024)
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Apeejay Surrendra Park Hotels IPO subscribed 59.66 times (07-02-2024)
The offer received bids for 207.38 crore shares as against 3.47 crore shares on offer.
Garuda Construction and Engineering files IPO draft papers to raise funds (07-02-2024)
Garuda Construction and Engineering Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering.
With this, the total number of draft offer documents filed by the companies has reached 10 in this year so far.
The proposed IPO is a combination of a fresh issue of 1.83 crore equity shares and an Offer For Sale of 95 lakh equity shares by promoter PKH Ventures Ltd, according to the Draft Red Herring Prospectus (DRHP) uploaded on Sebi's website on Wednesday.
Proceeds from the fresh issue will be used to support the working capital requirement of the Mumbai-based company and for general corporate purposes, including unidentified inorganic acquisition.
PKH Ventures currently holds 77.07 per cent stake in Garuda Construction and Engineering.
Garuda Construction and Engineering is involved in several projects for residential, commercial, residential-cum-commercial, hospitality, infrastructure and industrial projects.
According to