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Online Platform Indiamart IPO subscribed 36 times

27Jun By AnkitaNo Comments

Market

Online Platform Indiamart IPO subscribed 36 times

27th June, 2019- The initial public offer of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 35.87 times so far on the final day of bidding on 26th June 2019. The Rs 475 crore IPO received bids for 9,65,97,705 shares against the total issue size of 26,92,824 shares, as per data available with the NSE till 16:45 hrs. The initial public offer (IPO) is of 48,87,862 equity shares including anchor portion of 21,95,038 equity shares. The price range for the offer, which opened for bidding on Monday, has been fixed at Rs 970-973 per share. IndiaMart InterMesh had raised more than Rs 213 crore from anchor investors last week. ICICI Securities Ltd, Edelweiss Financial Services Ltd, an...

True North sells 7.39% stake in Aster DM Healthcare for $64.7million

27Jun By PriyankaNo Comments

Market

True North sells 7.39% stake in Aster DM Healthcare for $64.7million

Private equity firm True North has sold 7.39 percent stake in Aster DM Healthcare worth over $64.7 million (Rs 448 crore) through open market transactions. A total of 3.73 crore shares, amounting to 7.39 percent stake, were offloaded by True North Fund III-A translating into a $64.7 million transaction, according to bulk deal data available on NSE. According to the shareholding pattern available on India's Bombay stock exchange (BSE), at the end of March quarter, True North III A, held 8.23 percent stake in Aster DM Healthcare, which runs hospitals in India and the Middle East. In separate transactions, HDFC Mutual Fund bought 83 lakh shares of Aster DM for Rs 99.6 crore, Tata AIA Insurance purchased 50 lakh shares worth Rs 60 crore, while Fidelity Management and Ontario Pension B...

16May By PriyankaNo Comments

INDIA

Indian Stock Exchange BSE launch its own app for Mutual Funds

Leading stock exchange BSE Wednesday said it has launched 'BSE StAR MF' app to enable more participation and help mutual fund distributors process transactions faster. "BSE StAR MF mobile app supports real-time client registration and paperless transactions, creates and uploads mandate for SIPs, generates the basket of multiple orders, tracks and allows the distributor to analyse his business at his fingertips," the exchange said in a release. The app can be downloaded from Google Play Store.Once the app is downloaded, the sign up can be done by providing the member identification number, it added. "The launch of the app would further provide comfort of doing business to our 24,000 members. This app would not only increase their productivity, but would also enable IFAs (Independen...

TAKE Solutions to Acquire US based firms in ‘all cash deal’

11Jan By PriyankaNo Comments

ACQUISITION

TAKE Solutions to Acquire US based firms in ‘all cash deal’

Life sciences and supply chain management provider TAKE Solutions Friday said it would acquire two US-based entities in "an all cash deal" amounting to USD 72 million. Chennai based company, in a filing to Indian stock exchanges said with the acquisition of KAI Research, it would acquire Phase II, III capabilities in North America adding to its current service offerings in Europe and Asia. "KAI (Research) strengthens our therapeutic expertise mental health, musculoskeletal diseases and medical devices. The target has long standing relationships with clinical sites and trusted network of service providers", the company said om a BSE filing. "The total consideration for this transaction shall be up to USD 27 million, including contingent payments, subject to certain financial milest...

2Jan By AdityaNo Comments

INDIA

‘161 Indian IPO’s garner $5.52 bn till November in 2018’

Indian stock exchanges ranked second globally in terms of number of initial public offerings (IPOs), raising USD 5.52 billion from 161 offerings till November this year, according to a report. At the BSE and the National Stock Exchange, there were only two IPOs in fourth quarter of this calendar year, compared with nine and three in fourth quarter of 2017 and third quarter of 2018, respectively, said EY India IPO Trends: Q4 2018 report. A similar trend was witnessed in the small and medium enterprise (SME) market. There were eight IPOs in fourth quarter of 2018, compared with 31 and 42 in fourth quarter of 2017 and third quarter of 2018, respectively, showing a drop of 74 per cent and 81 per cent, respectively, it said. Industrial sector -- construction and engineering -- was the ...

IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

30Oct By Gauri SinghNo Comments

News

IBM to Take Over 1,000 Indian Staff as Part of Red Hat Deal

After the $33 billion acquisition of Red Hat, IBM will take over 1,000 people on board of the acquired company in the world’s second-largest technology deal so far. Along with this, IBM will get clients with high volume transactions that will include Bombay Stock Exchange and National Stock Exchange once the cash deal to acquire Red Hat Inc is completed. “The acquisition of Red Hat is a game-changer. It changes everything about the cloud market,” IBM chairman Ginni Rometty said. “IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses,” she said. Red Hat is known for its open culture that has been built by its CEO Jim Whitehurst and imbibed at its offices in India. BSE and N...

Advantages Of Opening Demat Account With India’s Top Stock Broking Firm Angel Broking

27Sep By AnkitaNo Comments

Market

Advantages Of Opening Demat Account With India’s Top Stock Broking Firm Angel Broking

Trading in stock markets has become an important part of the business world these days. As far as the fundraising of the companies is concerned, the only thing the companies look forward to is going public and trading their shares in the stock market. Therefore, with the increase in the stock market trading, the use of DEMAT accounts has also taken a step forward. But do you ever wonder where to open a Demat account? We have an answer for that too. Trading in securities and stocks is risky and thus, you need to have your account at a place which is fully trustworthy and reliable and India based Angel Broking firm fulfills all that. Angel Broking, as you all might have heard, is the most popular Indian Stock Broking firm that came into existence in 1987. Now, what is a D...

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...

News of the Day: BSE Postpones The Launch of Its Startup Platform

10Jul By Gauri SinghNo Comments

Market

News of the Day: BSE Postpones The Launch of Its Startup Platform

The Bombay Stock Exchange has reportedly postponed the launch of its new platform under BSE SME which was focused on listing startups. The launch was earlier scheduled on 9th of July but could not be taken forward. However, the reason for the same has not been disclosed yet. BSE was launching the platform for the basic purpose of listing fresh companies in sectors like IT, ITES, biotechnology and life sciences, 3D printing, space technology and e-commerce to give a boost to startups. "BSE has decided to postpone the split of the BSE startup sub-segment from BSE SME segment. Startups will continue to list on BSE SME segment as usual. These startups will have the option to migrate to BSE startup segment once BSE startup segment is launched," BSE said in a circular. The officials from th...

Indian Stock Exchange BSE Will Delist 222 Companies Tomorrow

3Jul By AdityaNo Comments

Market

Indian Stock Exchange BSE Will Delist 222 Companies Tomorrow

Mumbai based stock exchange BSE planning to delist as many as 222 companies from tomorrow. The trading of these shares has remained suspended for next six months. The reason behind this move is clamping down on shell companies listed as well as unlisted for being allegedly used as conduits for illicit fund flows. In August last year, Sebi had directed exchanges to act against 331 suspected shell companies, while the government has already deregistered more than 2 lakh firms that have not been carrying out business activities for long. In a circular, the BSE said, "210 companies that have remained suspended for more than six months would be delisted from the platform of the exchange, with effect from July 4, 2018, pursuant to an order of the delisting committee of the exchange". Furth...

Online Startup SaleBhai Received BSE Approval for SME IPO

3Jul By AnkitaNo Comments

Market

Online Startup SaleBhai Received BSE Approval for SME IPO

New Delhi, 3rd July, 2018: B2C e-commerce company SaleBhai Internet Limited, the owner and operator of SaleBhai.com have received BSE approval for its Initial Public Offering (IPO) on SME Platform of BSE. The company had filed a Draft Prospectus (DP) with BSE for listing on the SME platform of BSE Ltd on May 17, 2018, and has now received in-principle approval from BSE. BSE’s approval means that the Ahmedabad-based E-commerce startup will be the first to raise money through public route at such an early stage. Salebhai had already received funding and support from 71 high net worth individuals. This interest from existing customers propelled the company to raise money from the general public through an IPO. Commenting on the IPO, Vishwavijay Singh, Co-Founder, SaleBhai, said, “We ...

Here’s the Criteria to List Your Startup on BSE’s New Platform

26Jun By Lavina TolaniNo Comments

Market

Here’s the Criteria to List Your Startup on BSE’s New Platform

In an attempt to push startup environment facilitating the listing of startups in different sectors IT, ITES, biotech, 3D printing, space tech, and e-commerce, BSE India is launching a platform for new-age companies from July 9. The maiden platform will help in the listing of startups from other sectors too including defence, drones, nanotechnologies, virtual reality, big data, e-gaming, robotics, genetic engineering and more as informed by BSE officials. There is a certain criterion that startups and SME's in the above-mentioned sectors will have to fulfil for their listing in the world's fastest exchange as claimed by BSE. Some of the mandatory conditions are: The company should have a pre-issue paid up equity share capital of a minimum of Rs. 1 crore. ...