Posts in category Business Standard
Jupiter Life Line shares soar 46% on debut; SAMHI Hotels subscribed 5.3x (18-09-2023)
The IPO of Zaggle Prepaid Ocean Services saw over 12 times more demand than shares on offer
Sebi levies Rs 65 lakh fine on 5 individuals for insider trading violation (18-09-2023)
Sebi on Monday levied fines totalling Rs 65 lakh on five individuals for flouting insider trading norms in the matter of ABC Bearings Ltd.
The regulator slapped a fine of Rs 20 lakh on Jaisingh Sudhirkumar Choudhary, Rs 15 lakh on Menal Rasesh Parikh and Rs 10 lakh each on Himanshu K Desai, Anirudh R Parikh and Sudhirkumar Choudhary.
The order came after Sebi conducted a detailed investigation into the matter to ascertain whether trading was done in the scrip of ABC Bearings by certain suspected entities on the basis of unpublished price-sensitive information (UPSI) relating to the merger of ABC Bearings with Timken India Ltd for the period January-July 2017.
In its order, the Securities and Exchange Board of India found that Himanshu, who had been representing Parikh & Shah (P&S), the statutory auditor of ABC Bearings had attended meetings pertaining to the proposed merger and was in possession of UPSI, therefore he was an insider.
"I note that Himanshu had access to UPSI ...
Stellar rally in defence stocks not pricing potential risks, says KIE (18-09-2023)
The note said there could be a market opportunity of Rs 1.6 trillion for domestic procurement by FY26 due to overall solid defence capex growth and low imports due to indigenisation
Zaggle Prepaid IPO subscribed 12.57 times on last day of subscription (18-09-2023)
The Initial Public Offering (IPO) of fintech player Zaggle Prepaid Ocean Services Ltd was subscribed 12.57 times on the last day of subscription on Monday.
The initial share sale got bids for 24,28,83,090 shares against 1,93,26,761 shares on offer, according to data available with the NSE.
The category for Qualified Institutional Buyers (QIBs) was subscribed 16.73 times while the portion for non-institutional investors received 8.85 times subscription.
The quota for retail individual investors got subscribed 5.94 times.
The IPO had a fresh issue of up to Rs 392 crore and offer for sale of up to 10,449,816 equity shares. The company's IPO had a price range of Rs 156-164 a share.
Zaggle Prepaid Ocean Services on Wednesday said it mobilised Rs 253.52 crore from anchor investors.
The company proposes to utilise Rs 300 crore of the net proceeds on expenditure towards customer acquisition and retention, up to Rs 40 crore on expenditure for the development of technology and products, an
Sensex 11-day winning streak ends; US Federal Reserve decision eyed (18-09-2023)
Index heavyweights HDFC Bank, Reliance Industries and Infosys dragged the markets lower on Monday
Yatra Online IPO receives 30% subscription on second day of bidding (18-09-2023)
The initial public offer of travel company Yatra Online received a 30 per cent subscription on the second day of the issue on Monday.
The Rs 775-crore IPO received bids for 94,27,005 shares against 3,09,42,356 shares on offer, according to NSE data.
The category for retail individual investors (RIIs) was subscribed 1.34 times while the quota for non-institutional investors received a 9 per cent subscription and the qualified institutional buyers (QIBs) portion was subscribed 6 per cent.
The initial public offer has a fresh issue of up to Rs 602 crore and an offer for sale of up to 1,21,83,099 equity shares. The price range for the offer is Rs 135-142 a share. At the upper end of the price band, the IPO will fetch up to Rs 775 crore.
Yatra Online on Thursday said it has mobilised Rs 348.75 crore from anchor investors.
Proceeds from the fresh issue worth up to Rs 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to Rs 392 crore toward
Rupee falls to record closing low as rising oil pushes up dollar demand (18-09-2023)
Possible dollar sales from the RBI helped the local unit stay above lifetime lows. The rupee had fallen to a record low of 83.29 in October last year
HFCL soars 7% on winning Rs 1,015 cr order from Madhya Pradesh govt firm (18-09-2023)
The company has secured an order aggregating Rs 1,015 crore from Madhya Pradesh Jal Nigam, a Government of Madhya Pradesh Undertaking (MPJN).
PSB shares rally; IOB, PSB, Central Bank, Uco Bank surge over 40% in 4 days (18-09-2023)
Nifty PSU Bank index hit a new high today, and was the top gainer among sectoral indices, up nearly 4 per cent
Titan gains 2%, hits new high on hopes of healthy operational performance (18-09-2023)
Thus far in the financial year 2023-24, Titan has outperformed the market by surging 32 per cent as compared to 15 per cent gain in the S&P BSE Sensex