The initial public offering of LG Electronics India Ltd received 54.02 times subscription on the final day of bidding on Thursday, driven by overwhelming participation from institutional buyers.
InterGlobe Aviation promoter Rakesh Gangwal and his family trust on Tuesday sold a 5.7 per cent stake in the airline for about Rs 11,385 crore ($1.33 billion) through a block deal, according to sources. Apart from Gangwal, the Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company of Delaware, has also participated in the transaction for divesting its stake in IndiGo, the country's largest airline, the sources said.
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.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
Former England skipper Eoin Morgan shares his views on Rishabh Pant, Sanju Samson, Virat Kohli and India's biggest challenge in T20 World Cup.
Shareholders of Tata Sons, the holding company and promoter of Tata group companies, have approved the reappointment of N Chandrasekaran as chairman for another five-year term despite its single largest shareholder the Shapoorji Pallonji family abstaining from voting, according to sources. In February this year, the Board of Tata Sons had approved the reappointment of Chandrasekaran as executive chairman for another five years till February 2027, subject to shareholders' approval. At the shareholders meeting held on Monday, the proposal for Chandrasekaran's reappointment for a second term needed more than 50 per cent of votes as it was an ordinary resolution.
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.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
Morgan said England were below-par in all departments of the game on Sunday
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
'I think RBI has been phenomenally responsive to ensure there is ample liquidity in the system.'
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
There is no clarity on the number of players in the auction pool because the deadline for franchises to prune the original list has been deferred to February 4.
The Securities and Exchange Board of India has issued "certain observations" and "sought clarifications" on draft prospectus for Tata Consultancy Services Ltd's initial public offering.
Air-India will sell 376-room Centaur Hotel at Delhi airport and two Chefair flight kitchens of its subsidiary Hotel Corporation of India in the second round of divestment.
Banks could see a spate of mergers and acquisitions after India freed up rules on foreign investment in a step that could spur consolidation analysts say is crucial to ensure long-term survival and profitability.
India beat Austria 4-1 in their opening match in the Sudirman Cup.
Investment bankers said retail investors were pulling back, while institutions were being pickier
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
In first half of year, firms raise more than banks on low US treasury rates.
The company will finalise the final pricing for allotment of shares later.
Floor price of SAIL to be set at Rs 83 a share.
India has reached a significant milestone on Friday (November 28) by achieving Rs 100 lakh crore or 100 trillion market cap.
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