Posts in category Business Standard
New rules to attract investment to India’s $1.4 bn market: JPMorgan (07-09-2023)
India rolled out several measures over past two years to regulate its market for green and other assets, most recently allowing domestic fund managers to launch plans under six types of ESG strategies
Oil prices slip on weak Chinese outlook despite US stock drawdown (07-09-2023)
Brent crude futures fell 19 cents, or 0.2%, to $90.41 a barrel by 11:33 a.m. EDT (1533 GMT), while U.S. West Texas Intermediate crude (WTI) futures fell 17 cents, or 0.2% to $87.36
EMS Ltd raises Rs 96.37 crore from anchor investors ahead of its IPO (07-09-2023)
EMS Ltd on Thursday said it has raised Rs 96.37 crore from anchor investors ahead of its Initial Public Offering (IPO) that starts on Friday.
The water and sewerage infra player has decided to allocate 45.67 lakh equity shares to six entities at Rs 211 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website.
Abakkus Diversified Alpha Fund, Saint Capital Fund, Meru Investment Fund, Bofa Securities Europe, Morgan Stanley Asia Singapore Pte and NAV Capital VCC- NAV Capital Emerging Star Fund are among the anchor investors.
The IPO comprises fresh issue of equity shares worth Rs 146.24 crore and an Offer For Sale (OFS) of 82.94 lakh shares by promoter and founder Ramveer Singh.
Currently, Singh holds 97.81 per cent stake in the company.
In the pre-IPO placement round, the firm had raised Rs 33.76 crore leading to a reduction in fresh issue size to Rs 146.24 crore from Rs 180 crore planned earlier.
At the upper price band, the company
Sebi disposes of adjudication proceedings against state-owned LIC (07-09-2023)
Sebi on Thursday disposed of adjudication proceedings against state-owned LIC with respect to alleged violations of mutual fund norms.
The case pertained to the insurer's shareholding in IDBI Mutual Fund.
In a 12-page order, Sebi said the alleged violation on part of LIC is to be viewed in the context of the efforts taken by it to complete the merger of IDBI Mutual Fund with LIC Mutual Fund, and disposed of the adjudication proceedings.
The regulator had conducted an examination in the matter of alleged non-compliance of MF (Mutual Fund) regulations by LIC with a focus to ascertain if there was any violation of the rules.
During the course of examination, the regulator observed that IDBI Bank is the sponsor of IDBI Mutual Fund and directly holds 66.67 per cent and 33.33 per cent equity stake through IDBI Capital Markets & Securities in IDBI AMC, respectively.
Also, IDBI Bank holds 100 per cent stake in IDBI MF Trustee Company Ltd.
Thereafter, Sebi issued a show cause notice to LI
Cochin Shipyard gains 20%, Sandur Manganese lists on NSE, and more (07-09-2023)
The initial public offering (IPO) of Jupiter Lifeline Hospitals was subscribed 3.3 times on Thursday, the second day of the issue
LIC, other bond Issuers scale down fundraise amount due to volatile market (07-09-2023)
LIC Housing raises Rs 941 cr against indicative Rs 1,500 cr
Rupee closes at record low vs dollar amid China slowdown concerns (07-09-2023)
In the current financial year, the rupee has depreciated by 1.25 per cent. It depreciated by 7.8 per cent in the previous financial year, FY22
Bond yields decline as RBI seeks views on settlement via Euroclear platform (07-09-2023)
The potential settlement of domestic currency bonds through an offshore platform such as Euroclear has been a long-standing topic of discussion
Mcap of BSE-listed firms climb to fresh all-time high of Rs 319.10 trn (07-09-2023)
The BSE benchmark recovered all the early lost ground and finally ended with a gain of 385.04 points or 0.58 per cent at 66,265.56
Hospital chain Jupiter Life IPO subscribed 3.3 times on day two of offer (07-09-2023)
The initial public offering (IPO) of multi-speciality hospital chain Jupiter Life Line Hospitals Limited was subscribed 3.30 times on day two of bidding on Thursday.
The IPO received bids for 2,80,31,300 shares against 84,97,169 shares on offer, according to NSE data.
The portion for non-institutional investors was subscribed 6.63 times, the quota for Retail Individual Investors (RIIs) was subscribed 3.08 times and the category for Qualified Institutional Buyers (QIBs) received 1.12 times subscription.
The IPO has a fresh issue of equity shares worth Rs 542 crore and an offer for sale of up to 44.50 lakh equity shares.
The offer is in a price range of Rs 695-735 a share.
Jupiter Life Line Hospitals on Tuesday said it has raised Rs 261 crore from anchor investors.
Proceeds of the fresh issue will be utilised to retire debt and for general corporate purposes.
The hospital chain operates in Thane, Pune and Indore under the 'Jupiter' brand with a total bed capacity of 1,194 as of De