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N Chandrasekaran buys 100K Share of Tata Communications

18Mar By AnkitaNo Comments

Market

N Chandrasekaran buys 100K Share of Tata Communications

Tata Sons executive chairman N Chandrasekaran has purchased 1 lakh shares of Tata Communications from the secondary market, according to a regulatory filing. "We have received an intimation from N Chandrasekaran, executive chairman, Tata Sons Private Limited regarding his purchase of 1,00,000 equity shares of Tata Communications Limited at an average price of Rs 249.15, excluding brokerage and STT, per share as on March 16, 2020," Tata Communications said in a BSE filing. Shares of Tata Communications closed at Rs 226 a unit, down by 7.92 percent compared to the previous close, at BSE on Wednesday.

Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr

18Feb By Press Trust of IndiaNo Comments

Market

Barbeque Nation files IPO Papers to Raise Rs 1,000-1,200 cr

India based casual dining chain Barbeque Nation Hospitality has filed fresh papers with markets regulator Sebi to raise an estimated Rs 1,000-1,200 crore through an initial public offering. The IPO comprises a fresh issue of shares worth Rs275 crore and an offer-for-sale of up to 98,22,947 equity shares, according to the draft papers filed with the Securities and Exchange Board of India (Sebi). The company may consider a pre-IPO placement to the tune of Rs150 crore. Proceeds of the issue will be utilised to repay an outstanding borrowing of Rs 205 crore in part or full and for general corporate purposes. The company is promoted by Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani and is backed by private equity firm CX Partners, whic...

Saudi Aramco Shares Sinks Amid Iran-US tensions

6Jan By AdityaNo Comments

Market

Saudi Aramco Shares Sinks Amid Iran-US tensions

Saudi Aramco shares hit the lowest level since their market debut on Sunday, as Gulf bourses were hit by a panicky sell-off amid Iranian vows of retaliation over the US killing of a top general. All seven bourses in the Gulf Cooperation Council (GCC) states closed in the red, on the first trading day since the death of powerful military commander Qasem Soleimani. All six member states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates are US allies and lie on the opposite side of the narrow Gulf, making them easy targets for the Islamic republic. Some of the GCC members, notably Kuwait, Qatar and Bahrain, are home to major US military bases while Washington maintains hundreds of troops in Saudi Arabia. Kuwait's Boursa led the slide, shedding 3.7 percent as...

17Dec By PriyankaNo Comments

Market

Travel Firm EaseMyTrip Files for IPO

Online travel company EaseMyTrip has filed draft papers with capital markets regulator Sebi to float more than $71 million (Rs 510 crore) initial public offering. Through the IPO, company’s founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of $35 million (Rs 255 crore) through offer-for-sale mechanism, according to draft papers filed with the Securities and Exchange Board of India (Sebi). The city-based company said the object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges. “Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders,” it added. The company’s issue is being managed by Axis Capital and JM Financial. Founded...

Saudi Aramco IPO starts Trading, Gains 10%

11Dec By PriyankaNo Comments

Market

Saudi Aramco IPO starts Trading, Gains 10%

Saudi Arabia's oil company Aramco began trading, gaining 10% in its debut at the Saudi Tadawul stock exchange. The initial launch pushed it's growth 10% valued to USD 1.88 trillion, higher than any other listed company in the world. Trading for Aramco shares began at 10:30 am in Riyadh. The state-owned oil giant started a mammoth USD 25.6 billion IPO that set the record as the biggest ever in history. The company had announced a sale of 1.5 percent of its shares at 32 Saudi riyals a share, or what is $8.53. At a pre-trading auction earlier in the morning, bids for Aramco's shares reached the 10 percent limit on stock price fluctuation allowed by the Tadawul stock exchange. That pushed the price of Aramco shares to 35.2 riyals, or USD 9.39 a share. This makes Aramco more ...

Saudi Aramco Launched World’s biggest IPO

5Dec By PriyankaNo Comments

Market

Saudi Aramco Launched World’s biggest IPO

Saudi Oil company Aramco launched its initial public offering (IPO), which will be the biggest in history. Aramco priced its IPO at 32 riyals ($8.53) per share, raising $25.6 billion and beating Alibaba’s record of $25 billion NYSE listing in 2014. However, the IPO valuation is still significantly short of $2 trillion valuations sought by Saudi Crown Prince Mohammed bin Salman. Aramco has declined to comment on the IPO pricing until the article is going live. Aramco market valuation of $1.7 trillion overtaking Apple as the world’s most valuable listed firm. As per the news, Saudi Arabia relied on domestic and regional investors to sell its 1.5% stake because of climate change concerns, political risk and a lack of corporate transparency put foreign investors off the offerin...

Aramco declares USD 1.71 trillion valuation of its IPO, Will Sell 1.5 Percent Stake

18Nov By AdityaNo Comments

Market

Aramco declares USD 1.71 trillion valuation of its IPO, Will Sell 1.5 Percent Stake

Saudi Arabia put a value of up to USD 1.71 trillion on energy giant Aramco in what could be the world's biggest IPO, but missed Crown Prince Mohammed bin Salman's initial target of USD 2 trillion. Aramco said it would sell 1.5 percent of the company in a blockbuster initial public offering worth USD 24-25.6 billion, scaling down Saudi Arabia's initial plan to sell up to five percent of the firm. "The base offer size will be 1.5 percent of the company's outstanding shares," the state-owned energy giant said as it began taking bids from investors in a price range of 30-32 Saudi riyals per share (USD 8-8.5). The much-delayed offering, a cornerstone of Prince Mohammed's ambitious plan to diversify the oil-reliant economy, rivals the world's biggest listing -- the USD 25 billion float ...

Best Mutual Funds to Invest in India amidst Volatility

22Oct By PriyankaNo Comments

Market

Best Mutual Funds to Invest in India amidst Volatility

While there are many investment platforms online that allow investing in mutual funds within minutes, the question about which mutual fund to invest in persists. To help you decide, we have compiled a reviewed the best mutual funds to invest based on their past performance, that you can consider. Axis Midcap Fund ReviewThe Axis Midcap Fund is rated moderately high risk but has a lower risk compared to the benchmark. The fund has managed huge outperformance relative to the index and the category average as compared to peers. This is due to the fund’s tilt towards large cap and a strong emphasis on quality mid-caps while avoiding small-cap. 1 Year3 Year5 yearAxis Midcap Direct Plan Growth15.0%13.1%13.4%Category Average0.6%6.3%NA Note: As on October 16, 2019; Category ...

14Oct By AdityaNo Comments

Market

IRCTC IPO Jumps 101 pc in debut Trade

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) zoomed over 101 percent in debut trade on Monday against its issue price of Rs 320. It listed at Rs 644, reflecting a huge jump of 101.25 percent as compared to the issue price on the BSE. On the NSE, it skyrocketed 95.62 percent to Rs 626 in opening trade. The company's market valuation stood at Rs 10,972 crore in the morning trade. The initial public offering of IRCTC was a huge hit among investors, subscribed 111.91 times earlier this month. The Rs 645-crore IPO was in a price range of Rs 315-320 per share. IRCTC is the only entity authorized by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.

WeWork Delayed IPO Launch by End of 2019

21Sep By AdityaNo Comments

Market

WeWork Delayed IPO Launch by End of 2019

A stock offering from fast-growing office-sharing startup WeWork is being delayed and will likely occur by the end of 2019, the parent company said. The news from The We Company, which had filed paperwork for an expected listing this month, puts off the listing amid concerns about a huge overvaluation of the company. "The We Company is looking forward to our upcoming IPO, which we expect to be completed by the end of the year," a company statement said late Monday. "We want to thank all of our employees, members and partners for their ongoing commitment." The We Company, its parent firm, was thought to be moving forward with listing on the Nasdaq next week. WeWork had been expected to launch its IPO roadshow on Monday to market its shares to potential investors. Bu...

Aramco could delay IPO after Drone Attacks

17Sep By PriyankaNo Comments

Market, MIDDLE EAST

Aramco could delay IPO after Drone Attacks

New York, Sept 16 (AFP)- Saudi authorities are considering whether to delay an IPO for oil giant Aramco after this weekend's attack on its oil facilities shut down much of its production, people with knowledge of the matter said. "They're in the process of assessing the damage. It's a possibility but it's still very early," said one of the persons who spoke on condition of anonymity. Aramco had planned to debut in November on a local stock market before listing on an international one next year, sources had told AFP last week. The IPO could be the largest ever, with the company's valuation poised to top USD 1 trillion. The company's plans appeared to have accelerated in recent weeks after it chose JPMorgan to lead the initial public offering, sources said. Goldman Sachs and Ba...

JPMorgan Chase Will Lead Saudi Aramco IPO

11Sep By AdityaNo Comments

Market

JPMorgan Chase Will Lead Saudi Aramco IPO

JPMorgan Chase has been picked as the investment bank to lead Saudi Aramco's initial public offering, which could be the biggest ever, people close to the matter said to Pixr8 News. The US banking giant was notified by the Saudi company of the selection on Tuesday, the sources said, adding that Aramco envisions an offering on a local exchange followed by one on an international exchange that has not yet been picked. Exchanges in New York and Hong Kong are heavily lobbying the Saudi group for the listing, the sources said, adding that Tokyo is not in the running. Aramco has also been chosen Goldman Sachs to work on the offering and other banks are expected to be added at a later date, sources said. Aramco Chief Executive Amin Nasser said earlier Tuesday on the sidelines of an en...