Traders said the scrip is trading at a Rs 5-8 discount to issue price in the grey market.
GIC already owns 4.4% in the company but with the preferential shares allotment may be viewed as a step closer to the REIT IPO as it will bring the expertise to manage the REIT like Blackstone is managing for Embassy.
The minimum bid lot is defined based on the minimum application amount.
The total number of public shareholders in India’s largest public sector lender has increased to 18.54 lakhs at the end of December.
“Airtel Africa PLC ("Airtel Africa" or "Group")... further to its announcement of 11 December 2019 of its intention to float its local business Airtel Malawi PLC ("Airtel Malawi" or the "Subsidiary) on the Malawi Stock Exchange, today announces the price for the initial public offering ("IPO" or the "Offer")," said the company on Tuesday.
Traders said the scrip is trading at a Rs 65-67 premium in the grey market.
The IPO saw an overall 165.68 times subscription by end of third and final day of the bidding process.
The agreement mentions that the member, on the other hand, agrees to be satisfied by the genuineness and financial soundness of the client and making the client aware of broker’s liability for the business to be conducted.
Besides, they have been asked to disgorge unlawful gain of about Rs 7 lakh, including interest.
Institutional investors may have to disclose in advance quantity of shares meant for a fund.
Out of the 15 IPOs so far this year, only three were financed by the NBFCs.
The issue received bids for 3,37,51,600 against an issue size of 12,39,58,333 shares.
Qualified institutional placements (QIPs) have witnessed a rebound in the year so far.
SBI shareholders likely to have better chance of getting allotment even if they hold one share.
The bank, which was earlier known as, The Catholic Syrian Bank, has priced the offer in the range Rs 193-195 per share.
The SFB has finalised allocation of 8,20,94,594 shares to anchor investors at Rs 37 per share.
HDB Fin Services which is considering an IPO is valued at Rs 90,000 crore in the unlisted market.
This has led to bloated tax liability on capital gains and denial of credit for TDS, among other issues.
After earning those notional fat gains, what should investors do now?
Pharma major Lupin said its alliance partner Concord Biotech has received approval from USFDA.
In unlisted market, the stock has eroded one-third of its value in last two months.
Here are some of the names that have kept the grey market abuzz over past few weeks.
Sebi has now allowed investors to use their UPI (Unified Payment Interface) ID as a payment option for IPO issues. Here's the process.
Overall, the issue was subscribed 92 per cent, including anchor investors.
Ola, which has about 200 million riders on its platform across India, the UK, Australia and New Zealand, had recently announced setting up of a research unit in the Bay Area to focus on new areas like e-vehicles and connected cars.
The stock hit a low of Rs 691 and a high of 755.50 during the day.
Peloton acknowledges that it operates in a young, brutally competitive market in the part of its IPO prospectus where it details the risks it faces.
Markets regulator Sebi in February paved the way for a separate platform for startups.
Dilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
The portion reserved for qualified institutional buyers was subscribed 0.20 times.
The company on Monday said it has raised Rs 1,406 crore from 27 anchor investors.
Once the institutions finished buying, IRCTC will probably react a bit on the downside.
On Friday, the company raised Rs 213 crore by allotting 21,95,038 shares to 15 anchor investors.
The comments come after Nilekani said processes at Infy are so strong that God cannot change their numbers.
Listing pre-supposes good corporate governance, which results in sustainability and helps generate an independent valuation of the company.
Bankers said many investors have struggled to operate the UPI platform.
VW intends to offer stock in Traton SE for between 27 euros to 33 euros per share.
Trujet is the first airline in India to have started operations to all the routes under UDAN 1 and 2.
The quota for qualified institutional buyers (QIBs) was over subscribed 8.8 times.
At the upper price band of Rs 121-128 per, the issue size is Rs 226 crore.
US-based Massachusetts Institute of Technology has also been allotted shares worth Rs 35 crore.
Bharti Airtel currently owns 68.3 per cent in its Africa unit.
The Sensex slipped 0.65 per cent to 39,194 for the week ended June 21.
REITs are required to be listed on recognised stock exchange within 12 days of closure of offer.
The company is engaged in e-commerce, trading and recycling.
Purchase of equity shares of each company by a single FPI or an investor group would have to be below 10 per cent of the total issued capital of the company.
The issue received bids for 19,21,500 shares by 4:30 pm, which was 11 per cent of the total issue size of 1,76,70,400.
The Rs 459-crore initial public offer (IPO) by Affle India, a company in which Microsoft is a minority shareholder, will open for subscription on Monday.
Lyft warned in its filing that expenses are likely to increase and that it may not be able to “achieve or maintain profitability in the future.”
Airtel Africa has been experiencing healthy revenue growth in voice and data services and had posted strong performance in its Airtel Money business.
“It does show the market is tricky,” said a person close to the transaction.
We are already public now and the journey of building value for the shareholders has started.
IPOs of good companies historically have been the reason for growing investor base.
Telecom company also completes listing on Nigerian stock exchange
At the upper price band of Rs 121-128 per share, the issue size stands at Rs 226 crore.
The investment trust has fixed a price band of Rs 299 to Rs 300 per unit for the offering.
At the upper end of the price band, the offer is expected to raise about Rs 475 crore.
No compensation would be payable in case the listing price is below the issue price.
Take a look at top stocks and sectors that kept investors glued to their seats the whole week.
The total number of companies getting clearance from the Sebi has reached 75 this year so far.
The initial public offering comprises equity shares of face value of Rs 10 each of Flair Writing aggregating up to Rs 450 crore.
Market observers say such a correction in the newly-listed companies was imminent.
The Sensex has fallen over 12 per cent bringing the IPO market to a halt.
“Disgorgement without restitution does not serve any purpose,” it said, while delivering a judgement in the matter of Vital Communications earlier this month.
HDFC Bank’s growth and performance are widely attributed to Puri’s no-nonsense approach.
SoftBank is set to announce the final offering price on Monday.
IPOs receiving similar subscription have delivered 56% listing gains.
The company serves customers largely untapped by the top HFCs.
Airtel is turning to its overseas arms to cut debt, as its prepares to list its Africa unit on London Stock Exchange.
CDSL's IPO is the most subscribed maiden issue in over a decade on Dalal Street.
Its Rs 1,204-crore initial public offer (IPO) opened for subscription on Wednesday.
The price band has been fixed in the range of Rs 877-880 per share.
HDFC Asset Management had filed papers with Sebi in March for an IPO.
Investment bankers handling IPOs said implementing the new system will not be easy.
An investor can apply for investment in REITs through his demat account, either online or by filling up the IPO form and indicating demat account details.
The price band of the issue has been fixed at Rs 519-Rs 520 per share.
The regulator has sought comments from the public till August 15 on the proposal.
Demand was seen mainly from qualified investors buyers (QIBs) and retail investors.
The Bengaluru-based firm on Tuesday raised over Rs 339 crore from anchor investors.
Stocks with strong listings tend to lose steam after six months of their debuts.
RNAM will continue to remain a public limited company after the open offer.
Fund managers are known to participate in anchor allotment in IPOs.
Investors bade for 3,46,75,704 shares against the total issue size of 4,42,25,343 shares.
Sebi thinks the act of the fund house was not in the best interest of investors.
Aavas had a CRISIL credit rating of A+ in FY18 against BBB+ in FY14.
The aim of many IPOs in recent months has been to give early investors an option to exit.
All brokerages covering the IPO have assigned ‘subscribe’ rating to the issue.
The price band for the public issue has been fixed at Rs 818-821.
The price band for the issue is fixed at Rs 240-245 and the bid lot is 61 equity shares.
Xiaomi started marketing the deal to investors Thursday, touting cornerstone investments from US wireless-chip giant Qualcomm Inc. and SF Holding Co., the Chinese equivalent of FedEx Corp.
The brokerage said it has successfully closed the OFS and has raised around Rs 3,500 crore.
The debt stood at around Rs 7,000 crore at the end of December 2018.
Marketmen believe HDFC MF could be valued at Rs 30,000 crore.
Mahindra Logistics is a third-party logistics company of the Mahindra & Mahindra Group.
According to market sources, the DLF's QIP offer has been over-subscribed by two times at a price of around Rs 183-184 apiece.
The price band for the offer is set at Rs 180-190 per share.
Esop distribution took place as part of the company’s annual performance assessment programme.
The initial share-sale offer will be open for public subscription from July 25 to 27.
The price band for the offer is set at Rs 180-190 per share.
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