The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, got subscribed 2.37 times on the third day of the bidding on Thursday, helped by institutional buyers. This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore. The Rs 27,870 crore initial share sale got bids for 23,63,26,937 shares against 9,97,69,810 shares on offer, translating into 2.37 times subscription, as per NSE data.
The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received an 18 per cent subscription on the first day of bidding on Tuesday. The Rs 27,870 crore initial share sale received bids for 1,77,89,457 shares against 9,97,69,810 shares on offer, as per NSE data. The IPO received over 9 lakh applications on the first day.
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
Anglo-Dutch FMCG giant Unilever Plc's $ 5.4 billion open offer to increase stake in its Indian arm Hindustan Unilever Limited (HUL) to up to 75 per cent commenced on Friday.
Well known banker Naina Lal Kidwai has been appointed as the country head of HSBC group companies in India. Kidwai will assume the chairmanship of HSBC India operations and the appointment is effective from April 15, an HSBC statement said.
Nirma Ltd informed the Bombay Stock Exchange that it would purchase Searles Valley Minerals Operations and Searles Valley Minerals Inc (collectively known as SVM) from US-based private investment firm Sun Capital Partners Inc and other minority shareholders. HSBC Securities and Capital Markets (India) Pvt Ltd advised Nirma on the acquisition of the natural soda ash manufacturer, while J P Morgan Securities Inc was advisor to SVM.
The US slowdown, service tax on leased and rented premises and imposition of minimum alternate tax are expected to take a toll on the revenue and earnings growth rates of all frontline IT companies in 2007-08.
The Hongkong and Shanghai Banking Corporation Ltd on Thursday announced several top-level executive moves and new assignments for its India operations.
Tata-controlled CMC Ltd has filed a draft prospectus with Securities and Exchange Board of India for its proposed initial public offering to divest Centre's 26.25 per cent stake in the software firm.
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
The company will finalise the final pricing for allotment of shares later.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
The loss before tax shot up 262 per cent to Rs 492 crore for the financial year ended March 2016.
This was the near-unanimous replies of 10 market participants.
The central bank had nudged banks to cut lending rates.
FY17 GDP growth faces cash crunch heat
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances