Foreign investors have bought more than $16 billion worth of Indian stocks on a net basis so far in 2023, set to be the biggest inflow in 3 years
Posts in category Business Standard
Ratnaveer Precision up 37%, Fintech Zaggle sets price band of Rs 156-164 (11-09-2023)
Fintech player Zaggle Prepaid Ocean Services on Monday set the price band for its Rs 564 crore-initial share sale at Rs 156-164 apiece
Share sale of travel service provider Yatra Online IPO to open on Friday (11-09-2023)
The initial share sale of travel service provider Yatra Online Ltd will open for public subscription on Friday.
The three-day Initial Public Offering (IPO) will conclude on September 20 and the bidding for anchor investors will open on September 14 and for retail on September 15, according to the Red Herring Prospectus (RHP) filed on Friday.
The online travel company had raised Rs 62 crore from a rights issue and allotted 26.27 lakh shares at a price of Rs 236 per share, which was a part of pre-IPO placement.
Hence, the size of the fresh issue of Rs 750 crore has been reduced by Rs 148 crore, including the pre-IPO placement of Rs 62.01 crore, and accordingly, the fresh issue is Rs 602 crore.
The company has revised its Offer For Sale (OFS) component from 93.28 lakh equity shares to 1.22 crore equity shares after its promoter, THCL Travel Holding Cyprus Ltd offloading more shares in the issue.
The OFS now comprises up to 1.17 crore equity shares by THCL Travel Holding Cyprus Ltd an
Sebi issues framework for REITs, InvITs to exercise board nomination rights (11-09-2023)
Markets regulator Sebi on Monday issued the framework to exercise board nomination rights by eligible unitholders of Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
At its board meeting on June 28, the board of Sebi approved introducing nomination rights to unitholders of REITs and InvITs.
An eligible unitholder means a unitholder that has 10 per cent or more of the total outstanding units of a REIT or InvIT, either individually or collectively.
The Securities and Exchange Board of India (Sebi) has issued the framework to exercise board nomination rights by the eligible unitholders, according to two separate but similarly-worded circulars.
The regulator said the manager of a REIT or InvIT should review whether the eligible unitholders who have exercised the board nomination right, continue to have/hold the required number of units of the REIT or InvIT concerned.
The review has to be done within 10 days from the end of each calendar month.
In t
Railways-related stocks in limelight, IRCON International zooms 20% (11-09-2023)
Railways-related stocks jumped on Monday after India along with the US and several major economies announced an ambitious India-Middle East-Europe Economic Corridor.
The stock of IRCON International Ltd zoomed 19.97 per cent, Rail Vikas Nigam Ltd jumped 16.40 per cent, Indian Railway Finance Corporation Ltd advanced 9.98 per cent and NCC Limited climbed 3.77 per cent on the …
The 30-share BSE Sensex regained the 67,000 level. The benchmark jumped 528.17 points or 0.79 per cent to settle at 67,127.08. During the day, it rallied 573.22 points or 0.86 per cent to 67,172.13.
The Nifty ended 176.40 points or 0.89 per cent higher at 19,996.35. During the day, it hit an all-time high of 20,008.15, up 188.2 points or 0.94 per cent.
“Nifty cheered the huge success of the G20 summit by crossing the 20k mark during the day, as it would help India emerge as a superpower and would strengthen its position in the global arena. Various successful deals were struck in the summit, including in the
Credit Access Grameen raises Rs 989 cr via non-convertible debentures (11-09-2023)
Microfinance firm Credit Access Grameen on Monday said it has raised Rs 989.58 crore through public issue of secured, redeemable Non-Convertible Debentures (NCDs).
The NCD Tranche II Issue had a base issue size of Rs 400 crore with an option to retain oversubscription of up to Rs 600 crore aggregating up to Rs 1,000 crore, the Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) said in a statement on Monday.
The issue saw interest from investors across series and tenures offering monthly and cumulative interest options with effective yield ranging from 9.48 per cent to 10.13 per cent per annum, it said.
Infra firm EMS Ltd IPO subscribed by 14.99 times on second day of bidding (11-09-2023)
The Initial Public Offering (IPO) of water and sewerage infra player EMS Ltd got subscribed 14.99 times on the second day of bidding on Monday.
The share sale received bids for 16,17,01,400 shares against 1,07,87,431 shares on offer, as per NSE data.
The category for non-institutional investors was subscribed 29.68 times while the quota for Retail Individual Investors (RIIs) received 16.52 times subscription and that of Qualified Institutional Buyers (QIBs) was subscribed 67 per cent.
The IPO has a fresh issue of up to Rs 146.24 crore and an offer for sale of up to 82,94,118 equity shares.
The price range for the offer is Rs 200-211 a share.
The company offers water and sewerage infra solutions, including laying the sewerage network to build sewerage and water treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan.
EMS Ltd on Thursday said it has raised Rs 96.37 crore from anchor investors. Proceeds from the fresh issue will be used to fund working capital requireme
India, UK explore possibility of shares listing at GIFT City and LSE (11-09-2023)
Under current regulations, Indian firms are not allowed to list directly on overseas exchanges. They can only list on foreign exchanges through instruments such as depository receipts
Samhi Hotels’ Rs 1,370 cr IPO to open Sep 14 with price band of Rs 119-126 (11-09-2023)
Samhi Hotels on Monday fixed the price band for its Rs 1,370-crore primary share sale that opens on Thursday at Rs 119-126 per share, which is 119-126 times its face value.
The public issue comprises Rs 1,200 crore of fresh issue and an offer for sale (OFS) of up to Rs 170 crore at the upper end of the price band, Gurugram-based Samhi Hotels said in a statement.
In a pre-IPO placement, external investor Blue Chandra had sold 10.32 million shares or 8.4 per cent of its stake to renowned investor Madhusudan Kela’s wife Madhuri Kela, along with Nuvama Crossover Opportunities Fund and TIMF Holdings, for a total consideration of Rs 130 crore.
Samhi acquires/builds primary hotels and thereafter renovates, rebrands and rerates the property and runs it. In 13 years into business, it has added 369 keys in FY23 to become the third largest hotel owner by number of keys, taking the total number of keys to 4,800 across 31 operating hotels, which include its latest acquisition of ACIC last …
State-owned non-bank lender IREDA files for IPO with market regulator (11-09-2023)
State-owned non-banking financial company, Indian Renewable Energy Development Agency (IREDA), has filed for an initial public offering (IPO) with the country’s markets regulator, as per draft papers