Hudco gets Sebi approval to float IPO; government to divest 10% stake

Housing and Urban Development Corporation (Hudco) has received the Securities and Exchange Board of India's (Sebi's) approval to raise funds through an initial share sale as part of the government's disinvestment drive, reported PTI. Hudco had filed draft papers with Sebi in January and got the markets watchdog's "observation" on March 10, which is necessary for any co

PSP Projects get Sebi go-ahead for IPO

Construction firm PSP Projects has received markets regulator Sebis approval to float initial public offering, reported PTI. It had filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) in December. The construction firm received observation from the regulator on March 24. Th company's public issue comprises fresh issue of up to 72 lakh equity shares a

New India Assurance looking for merchant bankers to manage IPO

New India Assurance Company is looking for merchant bankers to manage its disinvestment through an initial public offer (IPO), according to the PTI report. Within a week of PSU reinsurer General Insurance Corporation (GIC Re) floating an RFP for merchant bankers, the New India Assurance (NIA) has asked bankers to submit their bids by April 19. "The size of IPO offer and structure shall be

Companies line-up public offerings worth Rs 20,000-cr: Media Report

Companies have lined up initial public offerings worth Rs 20,000 crore in the coming months to fund their business expansion and meet working capital requirements, according to the PTI reports. Hudco, NSE, Central Depository Services Ltd, Nakshatra World and Cochin Shipyard are among the names that plan to launch share-sale offers in coming months.

Most of these companies plan to util

SBI to initiate IPO offer of its life insurance arm

India's largest lender, the State Bank of India on Friday said it would initiate the process for selling 10 percent of its shares in its life insurance arm through an initial public offering (IPO).

According to a regulatory filing, the executive committee of the SBI's central board has accorded in-principle approval to "initiate process for offer for sale of 10 perce

State Bank of India says to begin process for life insurance arm IPO

MUMBAI  - State Bank of India, the nation's top lender by assets, said on Friday it would begin the process for an initial public offering (IPO) of its life insurance arm, with plans to sell a 10 percent stake.

The bank said in a filing it would explore selling an 8 percent stake in SBI Life in the IPO, while a senior executive separately said the lender'

Shankara Building IPO oversubscribed 2.49 times on Day 2

The initial public offer of Shankara Building Products was oversubscribed 2.49 times on the second day of the issue, said the PTI report. The IPO received bids for 1,31,88,736 shares against the total issue size of 52,94,467 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 75 per cent, while non institutional in

Delta Corp to raise Rs 750 cr via QIP

Delta Corp plans to raise up to Rs 750 crore through issue of equity shares or other securities via qualified institutional placement (QIP). The Board of Directors approved raising funds by issuing equity shares or other permissible securities through QIPs for an aggregate amount not exceeding Rs 750 crore, Delta Corp said in a BSE filing.

The company, which is into real estate, hospi

CL Educate IPO subscribed 77% on Day 2

CL Educate, which owns brand Career Launcher, saw its IPO subscribed 77 per cent on the second day of the issue, reported PTI. The initial public offering received bids for 25,71,053 shares against the total issue size of 33,32,000 shares, data available with the NSE. Qualified institutional buyers (QIBs) segment was oversubscribed 1.97 times while that of non-institutional investors 4 per cent

D-Mart stocks register over 100% returns on listing day

Market investor R.K. Damani-led retail store chain Avenue Supermarts, commonly known as D-Mart, witnessed more than 100 per cent return on its debut on the domestic bourses on Tuesday.

The scrip of the company opened at Rs 604.40 per share on the BSE -- more than 100 per cent premium over its issue price of Rs 299 apiece. 

It closed with gains of 6.01 per cent at Rs 640

Avenue Supermarts makes stellar debut, lists at 102% premium

Shares of Avenue Supermarts made a stellar debut at the Bombay Stock Exchange (BSE) today, surging nearly 107 per cent against the issue price of Rs 299. The stock listed on BSE at Rs 604.40, reflecting a huge jump of 102 per cent over the issue price.

Later, it touched an intra-day high and intra-day low of Rs 619.75 and Rs 558.75 respectively. On the volume front, over 5.78 crore sh

S Chand gets Sebi go-ahead to launch IPO

S Chand and Company has received markets regulator Sebi's approval to float an initial public offering (IPO), reported PTI. This includes fresh issue of shares worth Rs 300 crore. Besides, the company's existing shareholders, including private equity fund Everstone and International Finance Corporation (IFC), would be offloading 6,023,236 shares through the Offer for Sale (OFS) route.

Cabinet nod for sale of 24% equity in Lubrizol India

A Union Cabinet panel on Wednesday approved the sale of 24 per cent equity holding in Lubrizol India Private Ltd by state-run Indian Oil Corp to Lubrizol Corp. of US.

"The Cabinet Committee on Economic Affairs today (Wednesday) gave in-principle approval to permit Indian Oil Corporation (IOC) to sell its 24 per cent equity in one of its joint venture companies, M/s. Lubrizol Indi

CL Educate fixes price band for IPO

C L Educate on Tuesday fixed a price band of Rs. 500-502 per share for its upcoming initial public offer (IPO) through which it aims to raise Rs 239 crore, reported PTI. The IPO will open on March 20 and close on March 22, said C L Educate, which operates across segments in the education industry including test preparation, K-12 and vocational training.

The issue comprises 47.60 lakh

Gitanjali Gems subsidiary Nakshatra World files for IPO

Nakshatra World, subsidiary of Gitanjali Gems, has announced filing of its draft red herring prospectus ( DRHP) with the capital market regulator for an IPO. Earlier in December 2016, the company outlined its plan to raise close to Rs. 650 crore, subject to regulatory approvals, said the media reports. The board of directors of the company also approved the proposal of public offering of equity

BSE eyes 200 listings on SME platform by June

BSE expects to have 200 companies listed by June on its SME platform, an exclusive platform it has launched for raising of funds by small and medium enterprises, reported PTI. So far, 165 companies have been listed on the BSE's SME platform with an aggregate market capitalisation of close to Rs 19,000 crore. These firms have raised over Rs 1,288 crore through their initial public offerings

Music Broadcast IPO oversubscribed 39.45 times on last day

The initial public offering of Music Broadcast, a Jagran group firm that runs Radio City FM channel, was oversubscribed 39.45 times on the last day of the issue, reported PTI. The IPO received bids for 41,34,94,155 shares against the total issue size of 1,04,80,784 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers (QIBs) was oversubsc

India's Avenue Supermarts IPO fully subscribed on first day

MUMBAI  - India's Avenue Supermarts Ltd's initial public offering (IPO) to raise up to 18.7 billion rupees ($280.32 million) was fully subscribed on the first day of the offer, exchange data showed on Wednesday.

The supermarket operator is selling shares in a range of 295-299 rupees a share in an offer that closes on Friday.

Its IPO is the count

Music Broadcast IPO oversubscribed 2.19 times on second day

The initial public offering of Music Broadcast, a Jagran group firm that runs Radio City FM channel, was oversubscribed 2.19 times on the second day of the issue, reported PTI. The IPO received bids for 2,29,35,240 shares against the total issue size of 1,04,80,784 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers (QIBs) was oversubsc

Music Broadcast IPO subscribed 51% on Day 1

The initial public offering of Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel, was subscribed 51 per cent on the first day of the offer, reported PTI. The IPO, received bids of 53,17,065 shares against the total issue size of 1,04,80,784 shares, data available with the NSE showed. The portion set aside for non-institutional investors was subscribed 3 per cent, while re

Two IPOs headed for markets this week, eye Rs 2300-cr

Radio City FM channel operator Music Broadcast Ltd and Avenue Supermarts that runs supermarket retail chain D-Mart will come out with their initial public offerings this week to raise about Rs 2,300 crore, reported PTI. The bidding in the initial share sale offer of Music Broadcast will begin on March 6 and close on March 8 while Avenue Supermarts' IPO will open for public subscription on M

Exclusive - Zhong An plans to sell 5-10 percent stake ahead of IPO - sources

By Julie Zhu and Elzio Barreto

HONG KONG  - Zhong An Online Property and Casualty Insurance plans to sell 5-10 percent of the company to a couple of strategic investors, to raise up to 10 billion yuan ($1.45 billion), ahead of a planned initial public offering in mainland China, according to four people with direct knowledge of the matter.

China's f

36 SMEs to hit capital markets to fund biz expansion

Looking to tap into the upbeat investor sentiment, as many as 36 small and medium enterprises have lined up initial public offers (IPOs) to fund business expansion and meet working capital requirements, reported PTI. The companies, which are planning to list on BSE’s SME platform, are expected to float IPOs in the coming months.

The exchange has already given go-ahead to 28 SMEs

Ashford Prime prices public offering of common stock

Ashford Hospitality Prime, Inc. announced that it has priced its underwritten public offering of 5,750,000 shares of the Company's common stock at a price to the public of USD 12.15 per share. Settlement of the offering is expected to occur on or about March 7, 2017.

The underwriters have been granted an option to purchase an additional 862,500 shares as part of this offering. Ash

OPG Power looking to raise Rs 1000cr via IPO

OPG Power Ventures, listed on the AIM market of the London Stock Exchange since May 2008, is planning to raise Rs 1000 crore via listing on the Indian bourses, said the media reports.

OPG operates and develops power generation assets in India and currently has 750 MW in operation principally under the group captive model. Deutsche Bank and ICICI Securities have been reportedly hired t