Posts tagged All News
Sugar has mixed outing (14-09-2015)
IndiGo’s Rs 2,500-cr IPO gets Sebi nod (14-09-2015)
IndiGo’s Rs 2,500-crore IPO gets Sebi nod (14-09-2015)
Low cost airline IndiGo’s parent firm InterGlobe Aviation has received approval from market regulator Sebi for its Rs 2,500 crore initial public offer.
Under the offer, the company plans to issue fresh shares worth Rs 1,272 crore. An equivalent amount can be raised through sale of up to 3.01 crore shares by its existing shareholders.
The Securities and Exchange Board of India (Sebi) has cleared the proposed initial share sale and gave its final observations on the IPO on September 11.
The papers for raising up to Rs 2,500 crore through the IPO were filed with Sebi in June this year.
InterGlobe Aviation runs the country’s biggest airline by market share under the IndiGo brand.
Citigroup, JPMorgan India, Morgan Stanley, Barclays, UBS Securities India and Kotak Mahindra Capital Company are managers for the share sale.
IndiGo is one of the two profit-making domestic airlines. The only other profitable airline is GoAir.
The budget carrier saw its net profit jump over four-fold to Rs 1,304 crore in the last fiscal as it remained profitable for seven straight years.
This was also the highest ever annual profit registered by the airline since its inception in 2005.
It had posted a net profit of Rs 317 crore in the year ended March 31, 2014.
IndiGo’s good showing in the last financial year was mainly on account of higher revenues despite the domestic aviation sector witnessing turbulent times that adversely impacted the balance sheets of most local carriers.
The carrier witnessed its revenues climb to Rs 14,320 crore in the 2014-15 financial year. This is an increase of 25 per cent from Rs 11,447 crore revenues recorded in the fiscal ended March 31, 2014.
IndiGo has so far placed orders for 530 Airbus planes, making it one of the largest customers of the European aircraft maker.
The carrier has already taken delivery of 100 Airbus A320 planes which it had ordered in 2005. It would take delivery of the remaining 430 aircraft over a period of ten years.
At present, listed domestic airlines include Jet Airways and SpiceJet while trading in long-grounded Kingfisher Airlines has been suspended for a long time.
Sensex climbs to 2-week high as inflation at historic low (14-09-2015)
Street Food: Why Coal India sale, too, might need LIC help (14-09-2015)
What will be next 10x. or 100 x multibaggers stocks (14-09-2015)
What will be next 10x. or 100 x multibaggers stocks
Hitesh portfolio (14-09-2015)
hi sri krishna,
de mergers could be a starting point to investigate the company for a possible high return story. But it will need detailed homework and analysis of different scenarios to come at an investment decision. I havent yet looked at arvind de merger story so not much idea about that.
If you have got the details worked out then you can start a thread on the same and get feedback from guys tracking it.
Texmaco Rail to acquire 76 pc stake in Bright Power (14-09-2015)
IndiGo’s Rs 2,500-crore IPO gets Sebi nod (14-09-2015)
Foreign investors allowed to buy upto 40 pct in Maruti Suzuki (14-09-2015)
The Reserve Bank has allowed foreign investors to invest up to 40 per cent of the paid up capital in Maruti Suzuki under the Portfolio Investment Scheme.
The foreign shareholding by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs) in Maruti Suzuki India Limited have gone below the revised threshold limit, RBI said in a release.
“Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect,” RBI said.
RBI said Maruti Suzuki has passed resolutions at its Board of Directors’ level and a special resolution by shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs.
The purchases could be made through primary market and stock exchanges, it said.
As per data available on BSE, FIIs held 21.75 per cent in Maruti Suzuki as of quarter ended June 2015.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.
Maruti Suzuki shares closed at Rs 4,320.15 apiece on BSE flat from previous close on BSE today.