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27Mar By AnkitaNo Comments

Market

Bandhan Bank Shares Up 33% on Market Debut

India's Bandhan Bank surging 33 percent against the issue price of Rs 375 on the first day of its debut. At the end of the day, the stock listed at Rs 477 on BSE and 476 on NSE. The stock has a sharp gain of 29.33 and 33 percent from the issue price on BSE & NSE. The Kolkata based company has a market valuation of Rs 56,914.69 crore. The IPO of Bandhan bank was subscribed 14.62 times during its listings. The fixed price of the company share was Rs 370 to 375 during the listing. The issue opened on March 15 and continued till March 19. Goldman Sachs (India) Securities, JM Financial and JP Morgan India, Kotak Mahindra Capital Company and others managed the issue. The bank proposed to raise Rs 4500 crore from the IPO. The network of the bank has grown to 864 bank branches a...

26Mar By Sheldan RungasamyNo Comments

Market

Dropbox Dominates Share Market as Valuation Soared After IPO

Dropbox began its market debut extremely well as shares topped their marketed range in the biggest technology initial public offering (IPO) of the year. One share was valued at $28.48 when the market closed in New York on Friday, thus empowering the file sharing company with a market valuation worth $11.2 billion. They rose over 50% the amount initially asked in their IPO to as high as $31.60. Four years ago, in the company’s last private funding round, Dropbox was valued at $10 billion. The success of Dropbox on the market share could help resolve the one problem that has been restraining Silicon Valley companies from going public – their own heavy price tag. Dropbox first targeted a market valuation at $7.1 billion but the strong demand for the file sharing company’s shares ...

Bandhan Bank Shares All Set for Listing on 27th March

24Mar By Lavina TolaniNo Comments

News

Bandhan Bank Shares All Set for Listing on 27th March

Bandhan Bank, a private Indian bank and a financial company, with its headquarters situated in Kolkata, is all ready to list its shares in both BSE and NSE, on 27 March. Having received a positive reception in IPO with about 14.6 oversubscribes, the bank is intended on raising 45 crores that would primarily help in expanding its capital base and allowing part exit of IFC, one of its existing shareholders. The shares were received well by retailers and individuals alike at the IPO, and the CEO C.S Ghosh said that he was looking forward to a bullish response. Bandhan Bank which initially began as a micro-finance venture in 2001 is currently running its 864 branches and 386 ATM’s all over the country. With its prominent hold particularly in northeastern India, including Assam, Bengal, and ...

Bandhan Bank IPO Subscribed Over 42% on Day 1

16Mar By AdityaNo Comments

Market

Bandhan Bank IPO Subscribed Over 42% on Day 1

New Delhi: Bandhan Bank Ltd, an Indian banking, and financial services company headquartered in Kolkata received 42% initial public offering (IPO) subscription on the first day of bidding. On Wednesday, Kolkata-based Bandhan Bank raised Rs 1,342 crore from anchor investors and is looking to raise a total amount of Rs 4,473 crore from the public issue of its shares. The portion of shares reserved for institutional investors in the Bandhan Bank IPO was subscribed 1.26 times, while those for retail investors and high net-worth individuals (HNIs) saw a subscription of 12% and 1%, respectively. The Bandhan Bank IPO received bids for 35,005,200 shares against the total issue size of 83,496,347 shares, NSE data showed. The Bandhan Bank IPO is of up to 119,280,494 shares comprising fre...

13Mar By NitishNo Comments

Market

Tata Selling TCS Shares, Shares Down 6%

After the news of Tata selling some part of Tata Consultancy Services (TCS) shares, the market has not responded positively. The shares of TCS has fallen nearly 6% at the end of today. As per the following reports that Tata Sons is planning to raise around Rs 8,200 crore by selling a stake in the IT major. The stock declined 5.46 per cent to Rs 2,885.20 on BSE. The promoter of major operating companies of the Tata group, Tata Sons is planning to raise around Rs 8,200 crore by selling the stake in IT major TCS, according to investment banking sources. The funding will use to clear out the debts on Tata group. ALSO READ: TCS will not Leave Lucknow- Tata Group Chief The stock was the worst hit among the bluechips on both Sensex and Nifty during the morning trade. The tr...

6Mar By NitishNo Comments

Market

Sea Food Market Shares: The Latest Profitable And Lucrative Sphere To Invest In

The recent news of the drafting of the massive IPO of 900 million, at the SEBI by the leading seafood exporter Devi Sea Foods has stirred the market. The listing of equity shares will help to improve its brand image and provide liquidity to its existing shareholders. The company, which had its advent in 1992, will have the leading companies Axis Capital, ICICI Securities, and the Kotak Mahindra Bank will look after its public offerings. The company’s promoters are P Brahmanandam, P Suryavathi, P Rama Devi and N Naveena as per the information by the SEBI. Well, this is not the first and obviously the last time the sea business has to show its potential to expand in the market business to expand on. One of the leading exporters of aqua foods, Apex Frozen Foods, which was incorporated in 1...

Zuckerberg Sells $500 Million of Facebook Shares in February

5Mar By Sheldan RungasamyNo Comments

USA

Zuckerberg Sells $500 Million of Facebook Shares in February

Fully committed to his philanthropy work for the Chan Zuckerberg Initiative (CZI), Mark Zuckerberg sold about $500 million worth of Facebook stock in the shortest month of the calendar, according to SEC filings. This rather odd move however does not come as a surprise as Zuckerberg made his intentions public in September 2017. Mark Zuckerberg’s stock exit comes with a plan. Indeed, he wishes to transfer his Facebook fortune to his philanthropy work for the Chan Zuckerberg Initiative. Two security filings revealed that Zuckerberg sold 685,000 shares worth 125.4 million in the last few days of February. This takes his total sales of the month to about 2.7 million shares worth $482.2 million. These sales are the next step in a process Mark laid out in September to fund the Chan Zucke...

PNB and Gitanjali Gems Shares Tumbled 7 to 10%

20Feb By AdityaNo Comments

Market

PNB and Gitanjali Gems Shares Tumbled 7 to 10%

Shares of Gitanjali Gems & Punjab National Bank (PNB) tumbled over 10% to 7% yesterday, following the Rs 11,400-crore fraud by Nirav Modi. PNB shares were down to 7.16 per cent to its 52-week low of Rs 116.65 on BSE. At NSE, shares of the company dived 6.77 per cent to hit a one-year low of Rs 117.05. In four trading sessions, the stock has lost nearly 28 per cent and suffered an erosion of Rs 10,781.12 crore from its market capitalisation. While the stock of Gitanjali tumbled 9.99 per cent to Rs 33.80, its lower circuit limit on BSE. At NSE, shares of the company plunged 9.87 per cent to hit its lowest trading permissible limit of Rs 33.75. On February 14, Punjab National Bank (PNB) disclosed that it detected some fraudulent transactions with financial implication of about Rs 1...

Indian Sensex Crashes Over 300 pts on Capital Gains Tax Proposal

1Feb By AdityaNo Comments

Market

Indian Sensex Crashes Over 300 pts on Capital Gains Tax Proposal

Benchmark Sensex crashed over 300 points in afternoon trade today after Finance Minister Arun Jaitley announced 10 per cent tax on some long term capital gains in his Budget speech. The NSE Nifty also sank below the 11,000-mark during the Budget presentation. Sentiment also took a hit after the fiscal deficit target for 2017-18 was raised to 3.5 per cent of GDP as against 3.2 per cent earlier. The target for 2018-19 has been fixed at 3.3 per cent as against the Fiscal Responsibility and Budget Management Act target of 3 per cent. In highly volatile trading, the Sensex crashed to 35,590.17, a steep fall of 374.85 points, or 1.04 per cent. The 50-share NSE Nifty dropped 117.20 points, or 1.06 per cent, to 10,910.50. All sectoral indices were weighed down by widespread selli...

27Jun By reutersNo Comments

News

Messaging App Line Delayed IPO Launch

Japanese messaging app firm Line Corp has delayed setting a tentative price range for its initial public offering (IPO) by one day, until Tuesday, the company said in a regulatory filing, citing the "market environment". The IPO price range was originally scheduled to be announced on Monday. Line still plans to list in New York on July 14 and in Tokyo the following day, the filing showed. On Friday, the S&P 500 fell 3.6 percent, its biggest one-day drop in 10 months, and Japan's broad Topix index slid 7 percent after Britain voted to exit the European Union. The equity market in Japan recovered somewhat on Monday as the Topix closed up 1.8 percent, but the delay will allow the company to assess the market in New York and London on Monday before setting the tentative price range, a...

PepsiCo Indian Franchisee Varun Beverages Files For IPO

25Jun By Press Trust of IndiaNo Comments

BUSINESS

PepsiCo Indian Franchisee Varun Beverages Files For IPO

Varun Beverages, franchise for soft drinks maker PepsiCo, today filed preliminary papers with Sebi for an IPO to raise over Rs 1,000 crore. The IPO entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by promoters. The company has filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi), it said in a release. Sources said Varun Beverages expects to raise more than Rs 1,000 crore through the initial public offer. Apart from fresh issue of 1.5 crore equity shares, there would be offer for sale of up to 5,000,000 shares each by Varun Jaipuria and Ravi Kant Jaipuria & Sons (HUF), the release said. A portion of shares in the IPO would be reserved for eligible employees not exceeding five per...

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

5May By reutersNo Comments

CHINA

Alibaba’s Revenue Rises 39 percent As More Shoppers Buy Online

Alibaba Group Holding Ltd, China's biggest e-commerce company, said fourth-quarter revenue rose 39 percent, beating Wall Street estimates, helped by growth in gross merchandise volume. The company's American Depository shares were up 3.5 percent at $78.48 on Thursday. Revenue rose to 24.2 billion yuan ($3.7 billion) in the quarter ended March 31 from 17.4 billion yuan a year earlier, beating the average analyst estimate of 23.22 billion yuan. "Whatever they are doing must be working, and most importantly it's a sign that the Chinese consumer may not be weakening quite yet," said Gil Luria of Wedbush Securities. Gross merchandise volume (GMV), or the total value of goods transacted on its platforms on China retail marketplaces, rose 24 percent to 742 billion yuan. "Alibaba represent...