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SEBI To Bring Easy IPO Norms for Upcoming Issuers

20Jun By Lavina TolaniNo Comments

Market

SEBI To Bring Easy IPO Norms for Upcoming Issuers

Market Regulator, SEBI is gearing up to modify Initial Public Offering (IPO) norms in India making them less arduous for legitimate sellers while putting down on the possible misuse. The revamp includes the inclusion of a broader set of institutional investors such as alternative investment funds (AIF's) for counting promoter's contribution in startups, reducing disclosure price for two days before the issue opens and reducing requirement period for disclosure to three years than five. The panel board is scheduled to meet on June 21 to discuss proposed modifications in ICDR. Prithvi Haldea, Head of the ICDR Committee conducted by SEBI last year said, There are cases of good companies where the promoter capital is not adequate for lock-in in an IPO. Sometimes, alternative investment ...

IndiaMart Files IPO To Raise Up To Rs 600 Crore

16Jun By Gauri SinghNo Comments

Market

IndiaMart Files IPO To Raise Up To Rs 600 Crore

One of the biggest online platforms in India named Indiamart.com will soon raise the company’s valuation to as much as Rs 600 crore through a proposed initial public offering (IPO). The company will soon file draft papers for its initial share sale which is expected to take place next month. According to the reports, investment banks ICICI Securities, Edelweiss Financial Services and a foreign investment bank are a group of advisors for the company in the matter of the initial share sale. “Indiamart is working on an IPO that could see it raise around ₹500-600 crore through a mix of primary and secondary share sale. Some of the investors of the company could sell part of their stakes. The final details of these are yet to be formalized,” stated a source. However, Dinesh Agarwal who is ...

14Jun By Gauri SinghNo Comments

Market

Danish Brewer Carlsberg Plans India IPO

The popular beer manufacturer Carlsberg is working out on a local initial public offering (IPO) of its Indian business. The Danish brewer is reportedly looking for potential i-bankers for the share sale over the next few weeks. The Carlsberg Group is a Denmark-based company that is one of the leading brewery groups in the world today. The company is mainly known for its large portfolio of beer. It started its operations in India in 2007 but the Indian customers have been consuming its beer much before that. The credit of the success of Carlsberg’s products globally and in India can be given to the quality consciousness and the technological proficiency developed by the breweries. And because of these attributes, Carlsberg has been positioned on the third rank among the world’s largest b...

Railway PSU RITES aims for $550 Mn valuation in IPO

12Jun By Lavina TolaniNo Comments

Market

Railway PSU RITES aims for $550 Mn valuation in IPO

The public sector undertaking (PSU) of Indian Railways, RITES is looking forward to Rs. 3700 crore valuation in its initial public offering slated for June 20-22. RITES, which is a state-owned railway consultant has designated a price band of Rs. 180-185 apiece resulting in an IPO size of Rs 466.20 crore. Additionally, there is a Rs. 6 discount that will be given to retail investors and eligible employees. According to the sources, the proposed IPO will involve a sale of 25.2 million shares by the government which also includes the stock reserved for the employees. Meanwhile, another news is ongoing rounds regarding RITES likely to acquire around 25 per cent stake in Indian Railway Stations Development Corporation (IRSDC), the nodal agency for the redevelopment projects. The gover...

11Jun By Lavina TolaniNo Comments

Market

D-Mart owner joins Rs. 1 lakh Crore Market Cap Club

D-Mart's parent company Avenue Supermarkets Ltd joined the elite club bandwagon on Monday with Rs. 1 trillion market capitalisation after its share price reached Rs. 1,608.50, 1% up from its previous close on BSE. The stock has gained 20% in last three weeks while it has gained 35% in this year till date. The scrip has jumped 373.86% from its offer price of Rs 299 since its debut in March 2017. The surge in share has come after D-Mart promoter Radhakishan Damani sold nearly 6.2 million shares or 1% stake in Avenue Supermarts last week to ensure that the firm meets the minimum public shareholding norms. Moreover, the company has also made it in the MSCI India Domestic and MSCI India Domestic Small Cap Index, with effect from 1 June. A spokesperson from inves...

Foreign Investor Disposes off PVR shares Worth Rs 75 Cr

9Jun By Gauri SinghNo Comments

Market

Foreign Investor Disposes off PVR shares Worth Rs 75 Cr

The 5.67 lakh shares of the largest multiplex company PVR were sold by foreign investor Baron Emerging Markets Fund worth Rs 75 crore in an open market transaction on Friday. The recent shareholding information of BSE showed that as of April 2018 the seller company held 1.57 per cent stake in PVR and has disposed of 1.21 per cent stake. The shares were offloaded at an average price of Rs 1,332.15, valuing the transaction at exactly Rs 75.53 crore. The buyers of the shares comprised of: 1)DB International (Asia) 2) TT Asia-Pacific Equity Fund 3) TT Emerging Markets Equity Fund 4) Jana Emerging Markets Share Trust 5)Lockheed Martin Corporation Master Retirement Fund Baron Emerging Markets Fund seeks capital ...

5Jun By Lavina TolaniNo Comments

Market

Trending Stocks Avanti Feeds and Apex Frozen Losses 50% Market Value in 1 Week

The shrimp manufacturers and exporters which were leading the Indian stock market for a while have now baffled investors after witnessing a sharp fall in share prices which has been considered too high to measure. Yesterday, a news has surfaced that shares of shrimp exporter Avanti Feeds which grow 40000% in last 5 years have lost 38 percent of their market value since April 26. And today, adding to the misery of investors, shares have gone further down by 12.27% and are currently trading at Rs 1,306.90 down from its previous closing of Rs 1,489.60 on the BSE on the back of heavy volumes. The scrip opened at Rs 1,480 and has touched a high and low of Rs 1,480 and Rs 1,232 respectively. Apex Frozen, on the other hand, is a leading integrated producer as well as exporter of shelf ta...

RCom Shares in Demand, Give 100% Return in 11 Days

2Jun By Lavina TolaniNo Comments

Market

RCom Shares in Demand, Give 100% Return in 11 Days

Anil Dhirubhai Led company, Reliance Communications has witnessed a tremendous share jump with a nearly double the money returning in just 11 days. The surge in shares has come amidst NCLAT allowing RCom to proceed with the asset sale to Mukesh Ambani-controlled Reliance Jio Infocomm and Brookfield. Additionally, National Company Law Appellate Tribunal has also put a stay on the order of NCLT regarding insolvency of Reliance Communications, Reliance Infratel and Reliance Telecom. Speaking in terms of numbers, Rcom shares have jumped 100% to Rs 21 from a share price level of Rs 10.5 as on 16 May 2018. In a continuous stretch of last 11 days, heavy trading had been witnessed on the counters of RCom with about 50 to 80 crore equity shares being traded in a single day. Interestingly, ...

PSU Garden Reach Shipbuilders Receives SEBI Nod for IPO

29May By Lavina TolaniNo Comments

Market

PSU Garden Reach Shipbuilders Receives SEBI Nod for IPO

While the IPO market is still dormant, Garden Reach Shipbuilders & Engineers has received SEBI's approval to go ahead with its initial public offering. According to the latest update, the warship maker has filed a draft red herring prospectus (DRHP) with market regulator on March 26 and had obtained its observations on May 22. Garden Reach Shipbuilders, abbreviated at GRSE, it is one of the leading shipyards in the country situated in Kolkata, West Bengal. While it builds and repairs commercial and naval vessels, it has recently started building export ships in a mission to expand its business. As per the draft filed, Garden Reach Shipbuilders IPO will account for selling of 20,046,600 equity share which corresponds to 17.5 percent stake in the company. The public issue i...

23May By Lavina TolaniNo Comments

Market

Food Marketplace SaleBhai Files for IPO on BSE

SaleBhai Internet Pvt Ltd, an online marketplace for specialty foods has filed a draft prospectus with the BSE's SME platform to launch initial public offering intending to raise about Rs. 24 crore. The Ahmedabad based company that offers a varied marketplace for specialty food such as snacks, sweets, bakery items, dried syrups, chocolates and confectionery has confirmed to issue 22,59,600 equity shares, offering 26.58 percent of the company's equity in the market while listing on Bombay Stock Exchange. The IPO has been assigned a fixed price of Rs. 105 per share that will result in stake dilution of 26.58%. Interestingly, the company claims to be the very first B2C e-commerce startup firm to have filed for an SME IPO. The e-commerce firm intends to use the funds raised through I...

E2E Networks Stellar IPO Listing May Open Up viable Exit Gate for VC’s

20May By Lavina TolaniNo Comments

Market

E2E Networks Stellar IPO Listing May Open Up viable Exit Gate for VC’s

The spectacular performance of Computing Infrastructure platform E2E Networks Ltd backed by Blume Ventures earlier this week could bring significant opportunity for VC exits through the route, as forecasted by the experts. The company's IPO marked a close on 7 May with over a subscription of 70 times, while it's listing on 15 May witnessed share closure at 56% above issue price of Rs. 57. E2E is involved in the business of cloud infrastructure that includes servers, networking, virtualisation and other open source software pieces. The company's IPO turned out to be magnificent bringing an end to the struggled journey that startup had been walking since it came out. The Cloud Infrastructure provider has reported a 37.5% jump in revenues from operations to Rs 29.3 crore for the year en...

Online Education Company Pluralsight Marks a Debut on Nasdaq

18May By Lavina TolaniNo Comments

Market

Online Education Company Pluralsight Marks a Debut on Nasdaq

Online Education Company Pluralsight marked a debut on Nasdaq on Thursday with its shares trading at an opening price of $20 per share, roughly 34 percent above the $15 price at which the company had priced its initial public offering. Interestingly, the stock marked a close at the same price it had opened. Pluralsight is a publicly held online education company that offers a variety of video training courses for software developers, IT administrators, and creative professionals through its website. The company has raised $310 million in its initial public offering. Pluralsight has first filed for public listing on April 16 while competing against Alphabet's YouTube, Cornerstone OnDemand and Microsoft's LinkedIn Learning. It had initially estimated a price share between $10 and $1...