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Cipla’s Ugandan Unit Raised $43.8 million from IPO

18Sep By Gauri SinghNo Comments

Market

Cipla’s Ugandan Unit Raised $43.8 million from IPO

India's pharmaceutical giant Cipla has been one of the most popular companies in its sector. The Ugandan unit of the pharmaceutical giant has reportedly raised $43.8 million (167 billion Ugandan shillings) from its oversubscribed initial public offering (IPO). Talking further about the IPO, Cipla Quality Chemical Industries Ltd (CQCIL) which is majority owned and operated by India's third-largest drugmaker sold 657 million shares equivalent to 18 percent of the firm's total equity. Every share in the IPO was priced at 256.5 shillings. "The offering has been oversubscribed with the major part of the demand coming from blue-chip Sub-Saharan Africa investors," John Porter, chief business officer at investment bank Renaissance Capital stated. Cipla is an Indian multinational pharmaceutica...

17Sep By PriyankaNo Comments

Market

India Based Online Marketplace Indiamart Gets Permission to Launch IPO

Online marketplace IndiaMART InterMESH Ltd have received markets regulator Sebi's go-ahead to float initial share sale offers. With this, the number of companies getting Sebi's approval to float an initial public offer (IPO) has reached 50 this year so far. Indiamart which had filed draft their respective draft offer documents with Sebi in June, obtained the regulator's "observations" on September 14, according to the latest update with the markets watchdog. Sebi's observations are necessary for any company to launch IPO, follow-on public offer and rights issue. Through IndiaMART's public issue, a total of 42,88,801 equity shares will be divested by the promoters and private equity firms Intel Capital (Mauritius) Ltd, Amadeus Capital Partners and Accion Frontier Inclusion Mauri...

China’s Meituan Dianping Raises $4.2 billion in Hong Kong IPO

14Sep By Gauri SinghNo Comments

Market

China’s Meituan Dianping Raises $4.2 billion in Hong Kong IPO

Meituan Dianping, Chinese online food delivery-to-ticketing services company has reportedly raised $4.2 billion in the world's largest internet-focused IPO in four years. Tencent Holdings-backed Chinese firm sold about 480 million primary shares at HK$69 ($8.79) each in the Hong Kong IPO. This IPO valued the company at around $52.8 billion. "Since the stock priced at the upper end of the range, it suggests institutions are holding a more positive view on the company and on this type of new economy IPOs," said Steven Leung, sales director at brokerage UOB Kay Hian. The funds collected by the company will help them to fortify itself against tough competition from its main competitor, food-delivery platform Alibaba-backed Ele.me. Both of these platforms, in a tough battle for market shar...

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

13Sep By Gauri SinghNo Comments

Market

Tesla Rival NIO Raises $1 Billion in US IPO to Accelerate Growth

One of the largest electric vehicle startup NIO which is also a rival of Tesla has reportedly has made its market debut on the US stock market with a $1 billion IPO (initial public offering). The company’s basic motive behind this move is to boost up the production of its electric vehicles as well as and expand their EV infrastructure. With this IPO, the company has become the first Chinese-backed electric vehicle startup to go public in the US. The startup was backed by Chinese internet giant Tencent Holdings Ltd. Last year, NIO raised up to $600 million in its latest financing round led by Baidu. “We had actually a healthy book and then some orders got pulled or reduced because of market conditions,” NIO’s chief financial officer, Louis Hsieh, said. It was last month that an ann...

Meituan-Dianping Aims to Raise $4.4 billion from IPO

5Sep By Gauri SinghNo Comments

Market

Meituan-Dianping Aims to Raise $4.4 billion from IPO

China’s food delivery and restaurant review major Meituan-Dianping said it aims to raise up to $4.4 billion (roughly Rs. 31,400 crores) for its initial public offering (IPO) in Hong Kong. Instead of a not-so-effective response to other recent IPOs in the city, the company is planning to go public. With the IPO, Meituan will offer 480.27 million new shares at a range of HK$60 ($7.64) to HK$72 apiece. The company stated that they are making losses and also said that it could not guarantee profitability in future despite of having hundreds of millions of users on its platform. Talking about the company, Meituan.com was founded in 2010 by CEO Wang Xing and was merged with comment-rating platform Dianping Holdings in 2015. The company has been backed by internet giant Tencent and provi...

China’s Maoyan Weiying to File an IPO on the Hong Kong Stock Exchange

4Sep By Gauri SinghNo Comments

Market

China’s Maoyan Weiying to File an IPO on the Hong Kong Stock Exchange

China’s largest online movie ticketing service Maoyan Weiying reportedly filed for an initial public offering (IPO) on the Hong Kong stock exchange. The Tencent-backed company, however, has yet not disclosed that when the IPO will be or other valuation details. But, according to the earlier reports of this year, Maoyan aims to raise up to $1 billion. This move has come soon after another Tencent investment, Meituan-Dianping, is preparing for its own debut (Meituan is also one of Maoyan’s investors). Both Meituan and Maoyan are an important part of Tencent’s online-to-offline services rivalry with Alibaba. Meituan holds the number one market share for online services in China in terms of market volume. Similarly, Maoyan is the largest online movie ticketing app service in China. It...

31Aug By Gauri SinghNo Comments

Market

Top 5 Performing Shares in 2018 Stock Market

In the past few months, we have been witnessing various companies that went public and entered the stock market. What actually is a stock? Well, the capital raised by a company or corporation through the issue and subscription of shares is known as stock. When a company lists itself on the stock market, it can raise funds from the public by the issue of its shares. A stock market is a place where shares of publicly listed companies are traded. The primary market is where companies float shares to the general public in an initial public offering. The people, especially the beginners are generally confused about which stock they should buy. The best strategy to get success in those fields would be to play safe and take the safest route to achieve goals. After a good examination of the ...

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

28Aug By Gauri SinghNo Comments

Market

Auto Component Maker Craftsman Automation Gets Sebi’s Nod for IPO

Auto component manufacturer Craftsman Automation Pvt Ltd has successfully received capital markets regulator Sebi's approval for the launch of its initial public offerings (IPO). The firm had filed its draft prospectus with SEBI in June. The two PE backers of the company are Standard Chartered Private Equity and International Finance Corporation (IFC), World Bank’s private-sector investment arm. The promoters offloading the stakes include Srinivasan Ravi (2.10 lakh shares), Marina III (Singapore) (over 15.59 lakh), IFC (14.14 lakh ) and K Gomatheswaran (up to 12 lakh). The funds raised by the company through this public offering are expected to be utilized towards the repayment/pre-payment of certain borrowings and for general corporate purposes fully or partly. Craftsman Autom...

BSE, NSE to Suspend Share Trading of Nine Companies

21Aug By Gauri SinghNo Comments

Market

BSE, NSE to Suspend Share Trading of Nine Companies

It has come to a shock that BSE and NSE, the leading stock exchanges are going to suspend trading in shares of nine companies. Among these companies, banking fraud accused Mehul Choksi's Gitanjali Gems is also included. The trading of Gitanjali will be suspended from 10 September 2018 for not following the listing norms related to the submission of financial results. The trading is being suspended because of companies’ inability to comply with the regulations of LODR (Listing Obligations and Disclosure Requirements) regulations for two consecutive quarters. The firms whose stocks will be suspended for trading are as follows: - Gitanjali Gems - Easun Reyrolle - Amtek Auto - Panoramic Universal - Haryana Financial Corporation - Thambbi Modern Spinning M...

Are Foreign Direct Investments Facing a Decline in India?

20Aug By Gauri SinghNo Comments

Market

Are Foreign Direct Investments Facing a Decline in India?

Foreign Direct Investment which means the investment that is made by a person or a firm in any business interest situated in another country seems to be showing a new record in the financial year 2018. However, according to a report, over the last fifteen years, the FDI flows into the country show that they do not have much to do with the political organization at the Centre. The United Progressive Alliance 2 (UPA-2) started off on a high note but later fell victim to ‘policy paralysis’ at the end of its duration. However, it showed major declines in FDI inflows in two consecutive years, and also it saw a bounceback in FDI in its final year. The National Defence Academy (NDA) flagged off with 20% plus FDI growth rates in its first two years. Instead of bringing in reforms in GST, it ...

Cipla’s Ugandan Unit Expects to Raise $45 million from IPO

15Aug By Gauri SinghNo Comments

Market

Cipla’s Ugandan Unit Expects to Raise $45 million from IPO

India’s pharmaceutical giant Cipla’s Ugandan unit is reportedly aiming to raise $45 million from initial public offering (IPO). The company priced its IPO at 256.5 shillings per share. This amount is expected to be raised from its listing on the Kampala stock exchange next month. Cipla Quality Chemical Industries is majority owned by India's third-largest drugmaker and is selling 657,179,319 shares or an 18 per cent stake in the company. In this regard, the company has stated that each of its shareholders would be “selling a minority of their stakes” in the IPO and also the transaction and potential listing had gained regulatory approvals. The company expressed as part of its growth strategy, it “has been evaluating an initial public offering and listing of its issued share capital ...

China’s Electric Car Maker Nio Files an IPO to Raise $1.8 Billion

14Aug By Gauri SinghNo Comments

Market

China’s Electric Car Maker Nio Files an IPO to Raise $1.8 Billion

A Chinese electric car maker Nio has announced its filing to go public on the New York Stock Exchange. The company through this initial public offering (IPO) is looking to raise $1.8 billion. With this, Nio has become the first Chinese automaker to seek a listing in the U.S. This news comes at a time when Elon Musk is looking forward to taking Tesla private. The company seems to represent new competition to automaker Tesla. "We are generally targeting to launch a new model every year in the near future as we ramp up our business," the company stated. The initial public offering is being led by Morgan Stanley, Goldman Sachs Group Inc., JP Morgan Chase & Co., Bank of America Corp., Deutsche Bank AG, Citigroup Inc., Credit Suisse Group AG and UBS Group AG. The company applied to l...