Imagine Marketing Limited, the company behind ‘Boat’ earphones, has filed a draft red herring prospectus with the Securities and Exchange Board of India — taking the first step to listing its shares on the stock exchanges. The company wants to raise Rs 2,000 cr from investors. Out of this, only Rs 900 cr is being […]
State Bank of India said its central board has approved a proposal to potentially sell around 6% of its stake in its mutual fund arm via an initial public offering. “..the Executive Committee of Central Board of the Bank has accorded approval for exploring possibilities to offload 6% stake of the Bank in SBI Funds […]
One 97 Communications, which operates the PayTM payments platform in India, revealed details of its October performance late on Sunday, hours before trading resumed in its shares after a volatile first day on Thursday. The company’s shares had fallen by a whopping 27% on day 1, wiping out around Rs 38,000 cr of investor wealth […]
Shares of Zomato, the mobile food ordering service, have been priced higher than those of similar peers, but the company can deliver returns if it can maintain its scorching pace of growth in the future, according to Indian broking house Nirmal Bang. Zomato is currently in the IPO market trying to raise Rs 9,375 cr […]
Bharti Airtel said shareholders of Airtel Africa Ltd, which houses the Indian company’s operations in 14 African countries, have constituted a board of directors, including Bharti Airtel Chairman Sunil Mittal and his son Shravin Bharti Mittal. Others appointed to the board include both Airtel representatives as well as those of big private equity players who invested […]
Bharti Airtel today denied a Bloomberg report that said that the company has delayed the IPO of its Africa unit. “We would like to categorically state that Airtel Africa IPO preparations are proceeding as per plan and there is no change in plans,” the Indian telco said in a statement. “[A] new board is in place […]
ICICI Bank said it has priced the initial public offer of its broking arm ICICI Securities at Rs 520 per share. The offer for sale was open to subscription from March 22 to March 26 with a price band of Rs 519 to 520. At Rs 520, the IPO will raise Rs 3,515 cr, the […]
The total amount raised via initial public offering of equity shares in the first eight months of the current financial year is more than the total proceeds raised in the previous five years, according to SEBI data. A total of Rs 62,736 crore has been raised in April-November period, higher than the Rs 62,147 raised […]
Reliance Capital, the financial services arm of the Anil Ambani Group, said the Securities and Exchange Board of India (SEBI) issued its final observation letter to the draft red herring prospectus filed by its general insurance unit. The group had recently seen the successful IPO of its life insurance company, Reliance Nippon Life Insurance, which […]
Housing Development Finance Corporation Ltd or HDFC said the initial public offering of its life insurance unit HDFC Standard Life Insurance has been priced at the upper end of Rs 290 per share. The IPO will now mop up Rs 8,695 cr from the market. The shares were being offered in a band of Rs […]
ICICI Bank, one of India’s top banks, said it has decided to list its equity broking arm ICICI Securities. “The board of directors of the bank today approved the sale of a part of its shareholding in ICICI Securities Ltd in an initial public offering by the company, subject to requisite approvals and market conditions,” […]
Reliance Capital said the IPO of its subsidiary Nippon Life Asset Management will open on Oct 25 and close on Oct 27, with a price band of Rs 247 to Rs 252 per share. The offer will raise about 1,500 cr, out of which about Rs 600 cr will go to the company and the […]
ICICI Bank said the initial public offer of its insurance unit ICICI Lombard is priced at Rs 661 per share. The total amount to raised will Rs 5,701 cr. The initial price band was Rs 651-661. The IPO comprises the shares that are being sold by ICICI Bank and FAL Corporation in the insurance company, […]
Mumbai-based real estate developer Capacit’e Infraprojects has priced its initial public offer at Rs 245-250 per share. The company said it will open its Rs 400 cr IPO on Wednesday, Sep 13 and close it on Sep 15. Up to 50% of the issue will be allocated to institutional investors, and within this, up to […]
State Bank of India said it had decided to conduct an initial public offer for some of its shares in its insurance subsidiary SB Life Insurance. BNP Paribas Cardif S.A. would also sell some of its shares in the offer. It said the offer would involve 8 crore shares. No valuation or size details were […]
The central government has okayed the listing of India’s premier renewable energy agency, IREDA, via an initial public offer. The move will help the non-banking finance company “increase its equity base which will help them raise more debt resources for funding renewable energy projects,” the government said. IREDA supports the non-traditional energy sector by giving […]
Bank of Baroda said its board of directors had approved the raising of up to Rs 1,000 cr by selling perpetual bonds. The bonds would be sold via private placement, i.e. without a public auction or book building. The timing and other details will be determined by market conditions, the Gujarat-based bank said. Bank of […]
ICICI bank, an Indian multinational banking and financial services company, said its shareholders will get a reservation of 18.13 lakh shares in the upcoming initial public offering of its subsidiary ICICI Prudential Life Insurance. Only individual shareholders will be eligible for this reservation. On September 8, the private sector bank had said that it is […]
L&T Technology Services Ltd will open its initial public offer of up to 10.4 lakh equity shares on Monday. The shares will be sold by the parent Larsen & Toubro, the company said. Each share of the company, which provides technical design services, will carry a face value of Rs 2 and will be offered […]
Hathway cable and datacom said that it has decided to raise money by listing its subsidiary GTPL Hathway Pvt Ltd in India. Hathway said it will sell 9 mln shares of GTPL during the initial public offering (IPO). The cable operator also setup a committee to over see the IPO. It did not reveal the […]
