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Uniparts India debuts today Engineered systems manufacturer

Uniparts India is on December 12 expected to list at a premium of around 10 percent over the issue price. Though the IPO, which was a complete offer of sale, was subscribed 25.32 times, has reasonable valuations and the company’s financial position is healthy, the listing premium is lower than expected, say analysts. In the grey market, the premium has been hovering around 10 percent over the final issue price of Rs 577, which analysts blamed on market consolidation and the IPO being an offer for sale

Air India nears historic order for up to 500 jets from Airbus and Boeing

Air India is close to placing landmark orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious renaissance under the Tata Group conglomerate, industry sources said on Sunday. The orders include as many as 400 narrow-body jets and 100 or more widebodies, including dozens of Airbus A350s and Boeing 787s and 777s, they said, speaking on condition of anonymity as finishing touches are placed on the mammoth deal in coming days.

Jaiprakash Associates board meet to sell cement units on Monday

Jaypee group's Jaiprakash Associates has called a board meeting on Monday to take a decision to sell its Nilgrie cement unit in Madhya Pradesh. Dalmia Cement is a frontrunner in the race to acquire the company, with the Adani group and Aditya Birla group also in the fray. Both Adani and Ultratech held talks with Jaypee to buy the firm at an enterprise valuation of Rs 5,000 crore.

Mahindra Holidays to invest Rs 1,500 crore on expansion in next 3 years

Mahindra Holidays & Resorts India Ltd plans to invest up to Rs 1,500 crore in the next three years in expansion, including room additions and resort acquisitions, according to company MD and CEO Kavinder Singh. The company is also considering launching a new upscale brand for managing resorts, through which it would also look to further grow its Club Mahindra memberships.

Paytm can't use IPO proceeds for buyback; co's liquidity to be used: Report

One 97 Communications Ltd, the operator of India's largest digital payments provider Paytm, cannot use proceeds of its mega initial public offering (IPO) for the proposed repurchase of its own shares, as rules prohibit such a move, sources said, adding the firm will use its strong liquidity for the purpose.

Paytm has a liquidity of Rs 9,182 crore, as per its last earnings report.

The company's board is scheduled to meet on December 13 to consider a share buyback proposal. "The management believes that given the company's prevailing liquidity/ financial position, a buyback may be beneficial for our shareholders," it had stated in an exchange filing on Thursday.

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