In 2004, TCS made history with the first $1 billion initial public offering (IPO) by a private-sector company in India. Tata Sons diluted 14 per cent of its equity shares
Posts in category Business Standard
Mcap of 9 of top-10 valued firms add Rs 95,522 cr; RIL, TCS lead gainers (25-08-2024)
The combined market valuation of nine of the top 10 most valued firms jumped by Rs 95,522.81 crore last week, with Reliance Industries, TCS and HUL emerging as the biggest gainers.
Rising for the fourth straight session, the 30-share BSE Sensex ended 33.02 points or 0.04 per cent higher at 81,086.21 on Friday.
Last week, the BSE benchmark jumped 649.37 points or 0.80 per cent.
The market capitalisation (Mcap) of Reliance Industries surged by Rs 29,634.27 crore to Rs 20,29,710.68 crore.
The valuation of TCS jumped Rs 17,167.83 crore to Rs 16,15,114.27 crore and that of Hindustan Unilever by Rs 15,225.36 crore to Rs 6,61,151.49 crore.
The Mcap of Bharti Airtel rallied by Rs 12,268.39 crore to Rs 8,57,392.26 crore and that of ICICI Bank by Rs 11,524.92 crore to Rs 8,47,640.11 crore.
ITC soared Rs 3,965.14 crore to Rs 6,32,364.24 crore, while State Bank of India added Rs 2,498.89 crore to Rs 7,27,578.99 crore.
In addition, the valuation of Life Insurance Corporation of India jumped
Jeyyam Global Foods’ IPO to be out on Sept 2, seeks to raise Rs 80-82 cr (24-08-2024)
Jeyyam Global Foods Ltd, manufacturers and involved in processing and supply of Bengal gram (Channa), fried gram, would come out with their Initial Public Offering on September 2 as it plans to raise Rs 80-Rs 82 crore to fuel its expansion plans, an official said on Saturday.
The city-headquartered company would utilise the funds to be raised for its foray into business to consumer (B2C) segments, capital expenditure besides, widening product portfolio, Shrreyans Mehta, a member of the Group said here.
“We have identified 99 clusters across India to procure the fried gram, polished channa and we will be doing the cleaning and grading at the place of procurement..We will also be launching soya chunks and vermicelli,” he told reporters on their future plans.
From the funds to be raised, he said, the company would set up three manufacturing units, one each in Latur, and Nanded in Maharashtra and the third facility at Indore, Madhya Pradesh.
“We will be scaling up the production of fr
Govt slashes down drawback rates on exports of gold, silver jewellery (24-08-2024)
The government has reduced the drawback rates on exports of gold and silver jewellery by more than half to adjust for the significant cut in import duties on these precious metals in the Budget.
A notification regarding this was issued by the Department of Revenue.
On the export of gold jewellery, the drawback rate has been brought down to Rs 335.5 from Rs 704.1 per gram of net gold content in the article. The rate of silver jewellery and articles of silver have been cut to Rs 4,468 per kilogram of net gold content in an article.
The Duty Drawback Scheme refunds import duties and internal taxes, which are paid while importing goods, which are, in turn, used for manufacturing products for exports.
In the Budget, the import duty on gold and silver to 6 per cent from 15 per cent.
Through this notification, “duty drawback on gold and silver jewellery was reduced as the duty on gold and silver lowered in the budget”, Federation of Indian Export Organisations Director General Ajay Sahai
Hero Motors Ltd files preliminary papers with Sebi for Rs 900 cr IPO (24-08-2024)
Hero Motors Ltd, the auto-components firm of the Hero Motors Company (HMC) Group, on Saturday filed preliminary papers with markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).
The IPO is a combination of a fresh issue of equity shares worth Rs 500 crore and an Offer-For-Sale (OFS) of shares valued at Rs 400 crore by promoters, according to the draft red herring prospectus (DRHP).
The OFS includes Rs 250 crore worth of shares by O P Munjal Holdings, and Rs 75 crore each by Bhagyoday Investments and Hero Cycles.
The company may consider a pre-IPO placement of Rs 100 crore. If such placement is completed, the fresh issue size will be reduced.
Proceeds from the fresh issue to the tune of Rs 202 crore will be used for debt payment, Rs 124 crore for purchase of equipment required for expansion in capacity of the company’s facility in Gautam Buddha Nagar, Uttar Pradesh.
Hero Motors is India’s leading automotive technology company engaged in designing, .
Bio Green Papers reports consolidated net profit of Rs 5.38 crore in the June 2024 quarter (24-08-2024)
Sales reported at Rs 50.02 crore
CRISIL reaffirms ratings of DCM Shriram at ‘A1+’ (24-08-2024)
DCM Shriram said that CRISIL Ratings has reaffirmed its ‘CRISIL A1+’ rating on the commercial paper of the company.
Alembic Pharma gets USFDA nod for Betamethasone Valerate Foam (24-08-2024)
Alembic Pharmaceuticals announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Betamethasone Valerate Foam.
Pune based Carraro India files draft papers with Sebi for Rs 1,812 cr IPO (24-08-2024)
Carraro India Ltd, manufacturer of transmission systems for off-highway vehicles and other agricultural and construction equipment, on Saturday filed draft papers with markets regulator for Sebi for its Rs 1,812-crore initial public offering (IPO).
The Pune-based company’s initial share-sale is completely an Offer-For-Sale (OFS) by Carraro International S.E, according to the draft red herring prospectus (DRHP).
Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than to the company.
Founded in 1997, Carraro India, a subsidiary of Carraro S.p.A, began its manufacturing journey with transmission systems in 1999 and axles in 2000.
The company started its operations using IP rights licensed from other entities within the Carraro Group and specializes in complex engineering products and solutions for original equipment manufacturer (OEM) customers.
It serves as an independent tier 1 provider, concentrating on axles and …
Aeron Composite fixes price band at Rs 121-125 a share for Rs 56 cr IPO (24-08-2024)
Aeron Composite Ltd on Saturday said it has fixed the price band at Rs 121-125 per share for its SME initial public offering which will open for subscription on August 28.
The company plans to raise up to Rs 56.10 crore from its SME public issue, Aeron Composite said in a statement.
The company has received approval to launch its public issue on NSE Emerge Platform of the National Stock Exchange, it added.
The public issue will conclude on August 30. Investors can bid for a minimum of 1,000 shares and in multiples thereof.
The IPO is entirely a fresh issue of 44.88 lakh equity shares of face value Rs 10 each.
Retail investor quota for the initial public offering (IPO) is kept at not less than 35 per cent of the net offer, Non institutional investor quota is kept at not less than 15 per cent of the offer and QIB portion is kept at not more than 50 per cent of the offer.
The company has proposed to utilise IPO proceeds for funding the capital expenditure requirements towards settin