The Initial Public Offer (IPO) of Popular Vehicles and Services received 1.23 times subscription on the closing day of bidding on Thursday.
The Rs 601.55 crore-IPO received bids for 1,77,74,350 shares against 1,44,15,110 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) got subscribed 1.97 times while the category for Retail Individual Investors (RIIs) fetched 1.05 times subscription. The portion for non-institutional investors received 66 per cent subscription.
The IPO had a fresh issue of up to Rs 250 crore and an Offer For Sale of up to 1,19,17,075 equity shares.
The IPO had a price range of Rs 280-295 a share.
On Monday, Popular Vehicles and Services said it has garnered Rs 180.17 crore from anchor investors.
Proceeds of the fresh issue will be used for debt payment and general corporate purposes.
Popular Vehicles and Services is a leading diversified automotive dealership in the country with a presence across the automotive retail value c
Posts in category Business Standard
Popular Vehicles’ IPO gets subscribed 1.23 times on last day of bidding (14-03-2024)
Investors become richer by Rs 7.81 trillion as stock markets rebound (14-03-2024)
With equities staging a smart comeback a day after registering a steep fall, investors’ wealth jumped by Rs 7.81 lakh crore on Thursday.
The 30-share BSE Sensex climbed 335.39 points or 0.46 per cent to settle at 73,097.28. During the day, it jumped 602.41 points or 0.82 per cent to 73,364.30.
The market capitalisation of BSE-listed companies went up by Rs 7,81,631.24 crore to Rs 3,79,98,233.91 crore (USD 4.59 trillion).
The BSE benchmark index tanked 906.07 points, or 1.23 per cent, to settle at 72,761.89 on Wednesday. The Nifty plummeted 338 points, or 1.51 per cent, to 21,997.70.
“Short-covering provided the much-needed fillip after Wednesday’s crash, as key indices rose sharply after early weakness but quickly rebounded thereafter. Sharp gains in the US Dow Futures indicating a positive start also buoyed the local market sentiment. Recovery in mid and smallcap stocks shows that money is waiting on the sidelines to enter the market post healthy correction,” Prashanth Tapse, Seni
Investors become richer by Rs 7.81 trillion as stock markets rebound (14-03-2024)
With equities staging a smart comeback a day after registering a steep fall, investors’ wealth jumped by Rs 7.81 lakh crore on Thursday.
The 30-share BSE Sensex climbed 335.39 points or 0.46 per cent to settle at 73,097.28. During the day, it jumped 602.41 points or 0.82 per cent to 73,364.30.
The market capitalisation of BSE-listed companies went up by Rs 7,81,631.24 crore to Rs 3,79,98,233.91 crore (USD 4.59 trillion).
The BSE benchmark index tanked 906.07 points, or 1.23 per cent, to settle at 72,761.89 on Wednesday. The Nifty plummeted 338 points, or 1.51 per cent, to 21,997.70.
“Short-covering provided the much-needed fillip after Wednesday’s crash, as key indices rose sharply after early weakness but quickly rebounded thereafter. Sharp gains in the US Dow Futures indicating a positive start also buoyed the local market sentiment. Recovery in mid and smallcap stocks shows that money is waiting on the sidelines to enter the market post healthy correction,” Prashanth Tapse, Seni
Active funds weather market storm better than the benchmark indices (14-03-2024)
Nifty Midcap 100 index is down 3.9 per cent. In the case of smallcaps, active funds are down 6 per cent vis-a-vis 8.6 per cent decline in the Nifty Smallcap 100 index
Active funds weather market storm better than the benchmark indices (14-03-2024)
Nifty Midcap 100 index is down 3.9 per cent. In the case of smallcaps, active funds are down 6 per cent vis-a-vis 8.6 per cent decline in the Nifty Smallcap 100 index
Desjardins selects Wipro to transform its credit solutions (14-03-2024)
Wipro Gallagher Solutions’ (WGS), a Wipro Company and leading provider of cloud-based Loan Origination Systems (LOS), flagship NetOxygen solution will integrate and manage Desjardins’ multiple in-house and legacy systems to bring all their Loan Origination Systems into one platform, resulting in improved customer experience, efficiency gains and cost savings.
Board of Eris Lifesciences approves acquisition of branded formulations biz of Biocon Biologics (14-03-2024)
Also approved acquisition of 19% stake in Swiss Parenterals
Board of Eris Lifesciences approves acquisition of branded formulations biz of Biocon Biologics (14-03-2024)
Also approved acquisition of 19% stake in Swiss Parenterals
Krishna Institute of Medical Sciences acquires land for new hospital in Thane (14-03-2024)
The investment in the project is expected to be around Rs. 500 crore. The purchase of the building and lease amount will be paid from bank loan and internal accruals.
Krishna Institute of Medical Sciences acquires land for new hospital in Thane (14-03-2024)
The investment in the project is expected to be around Rs. 500 crore. The purchase of the building and lease amount will be paid from bank loan and internal accruals.