Posts in category Business Standard
Alpex Solar files preliminary papers with sebi to raise Rs 75 cr via IPO (24-01-2024)
Solar energy solutions provider Alpex Solar on Wednesday said it has filed preliminary papers with SEBI to raise Rs 75 crore through an initial public offering.
The offer comprises fresh issuance of 64,80,000 equity shares with a face value of Rs 10 each, a company statement said.
Alpex Solar has filed its Draft Red Herring Prospectus (DRHP) for the IPO and shares will be listed with NSE Emerge. The company intends to raise around Rs 75 crore through the IPO, it stated.
It will utilise net proceeds from the IPO to upgrade and expand its existing solar module manufacturing facility from 450 MW to 1.2 GW under the Aatmanirbhar Bharat initiative, besides setting up a new manufacturing unit for its solar module's aluminium frame.
The funds will also be used to meet its working capital requirements and for general corporate expenses.
Corporate Capital Ventures has been appointed as the book running lead manager to the issue and Skyline Financial Services is the registrar.
Alpex Solar
Mutual fund SIP investors step up redemption amid sharp market rally (24-01-2024)
Industry experts say timing the market goes against principle of SIP investing; gross outflows crossed Rs 11K cr in December 2023
Gold prices firms on softer dollar as market await US economic data (24-01-2024)
Spot gold edged up 0.2% to $2,032.88 per ounce by 12:50 GMT. U.S. gold futures rose 0.42% to $2,034.30
EPACK Durable IPO gets 16.37 times subscription on final day of offer (24-01-2024)
The initial share sale of EPACK Durable was subscribed 16.37 times on the final day of subscription on Wednesday.
EPACK Durable manufactures room air conditioners and small household appliances.
The Initial Public Offering (IPO) received bids for 32,70,94,495 shares as against 1,99,77,615 shares on offer, as per NSE data.
The category for Non-Institutional Investors (NIIs) got subscribed 28.10 times while the quota for Qualified Institutional Buyers (QIBs) received 25.50 times subscription.
The portion meant for Retail Individual Investors (RIIs) fetched 6.29 times subscription.
The IPO has a fresh issue of Rs 400 crore and an Offer For Sale (OFS) of up to 1,04,37,047 equity shares. The price band was fixed at Rs 218-230 a share.
EPACK Durable raised Rs 192 crore from anchor investors on January 18.
At the upper end of the price band, the public issue is expected to mobilise Rs 640 crore.
Founded in 2002, the company has integrated manufacturing facilities in Dehradun (Uttarakh
Govt approval required for IFSC listings of cos from bordering nations (24-01-2024)
The rules lay out how companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT)
Rupee trades narrow, settles 2 paise higher at 83.13 against dollar (24-01-2024)
The rupee stayed range-bound and settled 2 paise (provisional) higher at 83.13 against the US dollar on Wednesday.
Forex traders said the rupee is trading in a narrow range as positive domestic markets and a soft US dollar supported the rupee while rising crude oil prices and foreign fund outflows capped gains.
At the interbank foreign exchange market, the local unit opened at 83.15 against the greenback. The unit oscillated between an intraday low of 83.16 and a high of 83.11 against the greenback and finally settled at 83.13 against the dollar, higher by 2 paise (provisional) from its previous close.
On Tuesday, the rupee had settled at 83.15 against the US dollar.
"We expect the rupee to trade with a slight positive bias as the US Dollar has softened ahead of PMI data and gains in the Japanese Yen. Markets expect PMI data to be better than the previous month's reading. However, concerns over the Red Sea region and elevated crude oil prices may cap the sharp upside," said Anuj ..
TRIL freezes at 20% upper limit; hits new high on healthy business outlook (24-01-2024)
The company had a strong order book position of Rs 2,572 crore as on December 31, 2023 (Q3FY24).
Global funds sell most of Indian stocks since 2022 post-record rally (24-01-2024)
Global funds sold $2.4 billion of Indian shares on a net basis last week, the most since June 2022
Religare shares gain 4.6% after CCI approves Burman stake buy in company (24-01-2024)
Entities controlled by the family will need Sebi's approval to launch an open offer
Sebi gives offshore funds additional 7 mths to liquidate holdings: Rpts (24-01-2024)
"There is no immediate deadline or cliff for offshore funds to liquidate any holdings," said the first of the two sources