MAS Financial makes steller debut, lists at 44% premium

MAS Financial, a Gujarat-headquartered non-banking financial company (NBFC), made a strong debut on the Bombay Stock Exchange by listing at Rs 660, a 44 per cent premium against its initial public offer (IPO) price of Rs 459 per share. The company, which had got overwhelming response for its Rs 460 crore initial public offering that was subscribed over 125 times earlier this month, listed at pr

Reliance Nippon Life Asset looks at acquisitions, to rationalise schemes

Reliance Nippon Life Asset Management Lt will use the proceeds from its initial public offering (IPO) of around Rs 165 crore for acquisitions and expanding the distribution network, a senior company official said on Monday.

Arun Sundaresan, Head-Product Management Group, Reliance Nippon Life Asset Management, told reporters in Chennai that the company may launch three or four new sche

Godrej Agrovet makes strong debut, lists at premium

Godrej Agrovet, a highly diversified agri-business company, kicked-off trading on the Bombay Stock Exchange on strong note by listing at Rs 630, a 37 per cent premium against its initial public offer (IPO) price of Rs 460 per share. The company, which had got overwhelming response for its Rs 1,157 crore initial public offering that was subscribed over 95 times earlier this month, listed at prem

India raises $1.5 bln in IPO of reinsurer GIC Re

MUMBAI  - The Indian government raised about 98 billion rupees ($1.5 billion) on Friday by selling some of its shares in General Insurance Corp of India (GIC Re), the nation's top reinsurer, in the country's biggest listing in seven years.

The funds could be critical at a time when the government is looking to boost spending to help counter the slowest ec

Reinsurer GIC Re`s $1.75 billion IPO fully subscribed

MUMBAI - The initial public offering of General Insurance Corp of India (GIC Re), the nation's top reinsurer, was fully subscribed on the last day of the offer, exchange data showed on Friday.

The Indian government, which currently fully owns the reinsurer, was selling 107.5 million shares in the GIC Re IPO, while the company was selling 17.2 million new shares. T

State-run GIC Re's $1.75 billion IPO subscribed 90 percent by second day

MUMBAI  - State-run reinsurer General Insurance Corp of India's initial public offering of shares to raise 113.73 billion rupees ($1.75 billion) was subscribed 90 percent by the second day of the sale on Thursday, stock exchange data showed.

The institutional portion of the sale has been subscribed nearly 1.7 times, according to the data. Retail investors hav

Micron announces pricing of $1.2 bn offering of common stock

Micron on Thursday said that it has priced its USD 1.2 billion public offering of common stock. The size of the offering was increased from the previously announced USD 1 billion offering size. The offering was made pursuant to Micron's registration statement and prospectus filed with the Securities and Exchange Commission. Micron announced that it has agreed to sell approximately 29.3 mill

Reliance Nippon Life AMC IPO seeks to raise up to $237 million

MUMBAI (Reuters) - Reliance Nippon Life Asset Management Ltd's initial public offering, the first by an Indian mutual fund manager, seeks to raise up to 15.42 billion rupees ($236.7 million) with the company on Thursday setting a price range of 247-252 rupees per share.

The offer by the manager of India's third-biggest mutual fund by assets under management, which will run fro

Indian Energy Exchange`s $154 million IPO subscribed just over 2 times

Indian Energy Exchange Ltd's initial public offering of shares to raise 10 billion rupees ($153.7 million) was subscribed 2.3 times on the last day of the sale on Wednesday.

Investors bid for 11.8 million shares, or 2.25 times the about 5.3 million shares on offer, stock exchange data as of 1300 GMT showed.

Shareholders of the electricity exchange were selling a little o

Indian state-run GIC Re`s $1.75 billion IPO subscribed nearly 80 pct on first day

MUMBAI  - State-run reinsurer General Insurance Corp of India's initial public offering of shares to raise 113.73 billion rupees ($1.75 billion) was subscribed nearly 80 percent on the first day of the sale on Wednesday, stock exchange data showed.

The institutional portion of the sale has already been subscribed more than 1.5 times, the data showed.

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GIC Re IPO gets good response

The initial public offering (IPO) by government owned reinsurer General Insurance Corporation (GIC) has received good response from the investors on Wednesday the first day of the issue.

According to the data available on the BSE website, the portion reserved for qualified institutional buyers (QIB) was oversubscribed by 1.55 per cent.

The reinsurance major has fixed the iss

MAS Financial IPO subscribed 129 times on final day

The Rs 460-crore initial public offer (IPO) of MAS Financial Services was oversubscribed 128.84 times on the last day of subscription on Tuesday, reported PTI. The IPO received bids for 91,35,70,944 shares as compared to the total issue size of 71,24,910 shares, as per NSE data. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 148.331 times, non institutional i

MAS Financial Services $71 million IPO subscribed nearly 128 times

Indian non-banking financial company MAS Financial Services Ltd's initial public offering of shares to raise 4.6 billion rupees ($70.5 million) was subscribed nearly 128 times on the last day of the sale on Tuesday, adding to the strong interest seen in initial share sales this year.

Investors bid for 911.1 million shares, or 127.9 times the about 7.1 million shares on offer, stoc

MAS Financial IPO oversubscribed 4.81 times on Day 2

The initial share sale offer of MAS Financial Services was oversubscribed 4.81 times on the second day of subscription yesterday, reported PTI. The IPO, to raise Rs 460 crore, received bids for 3,42,91,872 shares as compared to the total issue size of 71,24,910 shares, as per NSE data. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 5.74 times, non institution

Two IPOs worth over Rs 12,300 cr to hit market this week

Two companies -- Indian Energy Exchange and General Insurance Corporation Of India -- are set to launch their initial public offerings this week to raise about Rs 12,371 crore, reported PTI. Indian Energy Exchange plans to raise Rs 1,001 crore through its initial share sale offering. It has fixed a price band of Rs 1,645- 1,650 per share for its public issue.

The issue by which the co

SMEs garner record Rs 656-cr via IPOs in Apr-Sep FY18

Spurred by investors' interest, as many as 58 small and medium enterprises (SMEs) got listed on capital markets with IPOs worth record Rs 656 crore in April- September 2017 and many are lined up for the coming months. Besides, more than 18 companies have already announced their issue opening dates, merchant banker Pantomath Group Managing Director Mahavir Lunawat said.

Companies f

SBI Life shares slip below IPO price

Shares of newly-listed SBI Life Insurance Company fell by over 1 per cent to settle below its issue price Rs 700, reported PTI. The stock ended yesterday at Rs 692.50, down 1.37 per cent from its previous close on BSE. During the day, it slipped 2.43 per cent to Rs 685. At NSE, shares of the company fell by 1.29 per cent to end at Rs 694.55.

In terms of equity volume, 2.68 lakh shares

Prince Pipes and Fittings files for IPO to raise Rs 800-cr

Prince Pipes and Fittings filed draft prospectus with capital market regulator to raise an estimated Rs 800 crore through an initial public offering, reported PTI. The public issue comprises fresh issue of shares worth up to Rs 500 crore besides an offer for sale by the company's promoters -- Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda and Vipul Jayant Chheda, according t

Sebi keeps Barbeque Nation`s IPO in abeyance

Sebi has kept processing of Barbeque Nation Hospitality's proposed IPO in abeyance "pending regulatory action for past violations", the latest update with the markets regulator showed, reported PTI. However, the Securities and Exchange Board of India (Sebi) did not clarify on whether violations have been committed by the company or related entities.

The company had filed

Prataap Snacks to list on bourses tomorrow

Prataap Snacks, whose initial share sale offer received robust investor demand last week, will list its shares on bourses tomorrow, reported PTI. The Rs 482-crore initial public offer (IPO) was oversubscribed 47.39 times during September 22-26. The qualified institutional buyers (QIBs) portion was oversubscribed 76.89 times, non-institutional investors 101.15 times and retail investors 8.48 tim

Apollo Micro Systems files IPO papers with Sebi

Apollo Micro Systems Ltd. has filed draft papers with capital markets regulator Sebi to raise about Rs 156 crore through an initial share-sale offer, reported PTI. The public issue comprises sale of the company's equity shares aggregating up to Rs 156 crore, according to the draft red herring prospectus (DRHP) filed with Sebi.

Proceeds of the issue would be used to meet additional

India seeks to raise up to $1.7 billion from state-run reinsurer GIC Re`s IPO

MUMBAI  - State-run reinsurer General Insurance Corp of India's (GIC Re) initial public offering of shares next week seeks to raise as much 113.7 billion rupees ($1.7 billion) in what will be India's second-biggest IPO.

GIC Re set a price range of 855-912 rupees a share for its IPO that will run from Oct. 11-13, according to a public notice on Wednesday.

Amber Enterprises files Rs 555-cr IPO papers with Sebi

Appliance maker Amber Enterprises has filed preliminary papers with Sebi to raise Rs 555 crore through an initial share-sale offering, according to draft prospectus filed with the markets regulator, reported PTI. The IPO comprises fresh issue of equity shares worth Rs 450 crore and sale of scrips to the tune of Rs 105 crore by promoters Jasbir Singh and Daljit Singh.

The company plans

State-run Hindustan Aeronautics files for IPO

MUMBAI - Hindustan Aeronautics Ltd (HAL) has filed for an initial public offering of shares that will see the government selling a tenth of the military aircraft maker.

The government, which fully owns HAL, is seeking to sell about 36.2 million shares in the IPO, according to a company filing with the capital markets regulator.

HAL had revenue of 179.52 bill

SBI Life in modest debut after rich valuations for IPO

MUMBAI  - SBI Life Insurance Co Ltd made just modest gains in its trading debut on Tuesday after its IPO - India's biggest in seven years - raised $1.3 billion at valuations widely viewed as steep.

Although India could notch up a record-setting year for IPOs with almost $6 billion in deals done so far in 2017, concerns about high valuations have started to em