GIC files papers for IPO, govt to dilute 14.22% stake

General Insurance Company of India has filed draft red herring prospectus (DRHP) for initial public offer for sale of 12.4 crore shares as part of the government's strategy to list all state-owned insurers, reported PTI. Following the IPO, the central government's stake in the wholly owned reinsurance firm will come down by 14.22 per cent, according to the DRHP. The company proposed IPO

Cochin Shipyard proposes IPO to finance projects: Minister

The Cochin Shipyard Limited (CSL) has proposed issuance of an Initial Public Offer (IPO) to finance its two major infrastructure expansion projects, Minister of State for Shipping Mansukh Lal Mandaviya said on Tuesday.

The two projects include construction of a new dry dock at a cost of Rs 1,799 crore and an international ship repair facility at a cost of Rs 970 crore, he said in

SBI Life Insurance files DRHP for IPO

State Bank of India on Monday said that its subsidiary SBI Life Insurance Company has filed a draft red herring prospectus with Sebi for an initial public offering.

According to a regulatory filing made to the BSE, the state-run bank said that the IPO will offer up to 12 crore equity shares of face value of Rs 10 each.

UTI Asset Management Company fairly ready for IPO: Leo Puri

UTI Asset Management Company is "fairly ready" for the initial public offering and board's approval is already in place, its managing director Leo Puri said as per the PTI report. Besides, majority of the shareholders of the company have supported the plan to go public. UTI Asset Management Company (AMC), which has been planning an IPO for a long time, could become the first fund

Cadila Healthcare bags final approval for Doxazosin Tablets

Zydus Cadila has said that it has received the final approval from the USFDA to market Doxazosin Tablets USP, 1 mg, 2 mg, 4 mg, and 8 mg. The drug is a selective alpha blocker used to treat high blood pressure and urinary retention associated with benign prostatic hyperplasia. “Zydus Cadila has also received the tentative approval from the USFDA to market Lurasidone Hydrochloride Tablets,

IPO financing to see healthy traction in FY 2018

Helped by robust capital markets, IPO financing is likely to witness healthy traction in the current fiscal year, with loans for large-size public issues pegged at an average of Rs 65,000-70,000 crore, says a ICRA report according to the PTI. "The initial public offer (IPO) financing market in India is expected to continue to witness healthy traction in the current fiscal, supported by fav

Hinduja Leyland Finance scraps IPO plans

Non-banking finance company Hinduja Leyland Finance Ltd has decided to scrap its initial public offering plans and has withdrawn its Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India, parent firm Ashok Leyland Ltd said on Wednesday.

In a regulatory filing in the BSE, Ashok Leyland said the Board of Directors of Hinduja Leyland Finance had decide

Central Depository Services $81 million IPO subscribed 170 times

MUMBAI - Central Depository Services (India) Ltd's 5.2 billion-rupee ($81 million) initial public offering of shares was subscribed almost 170 times on the last day of sale on Wednesday, making it the most oversubscribed IPO this year.

The sale had received bids for about 4.22 billion shares against 24.8 million shares on offer, according to stock exchange data as

India Grid Trust makes flat debut, slips 2% from issue price

India Grid Trust, sponsored by Sterlite Power Grid Ventures Ltd, made a tepid debut on the Bombay Stock Exchange on Tuesday, with shares listing flat at Rs 100. The infrastructure investment trust, which recently concluded its Rs 2,250 crore initial public offering, had fixed a price band of Rs 98-100 per share which opened for subscription on May 17 and closed on May 19. After making a flat de

ICICI Bank board approves ICICI Lombard stake sale via IPO

ICICI Bank said it will sell a part of its stake in joint-venture firm ICICI Lombard General Insurance Company Ltd through an Initial Public Offer, reported PTI. "The board of directors of the bank today approved the sale of a part of its shareholding in ICICI Lombard General Insurance Company Ltd (Company) in an initial public offering (IPO) by the Company," ICICI Bank said in a regu

Bharat Road Network and MAS Financial Services Gets SEBI Nod for IPO

June 01, 2017: Kolkata-based road build-operate-transfer (BOT) company Bharat Road Network (promoted by SREI Infrastructure Finance) and Gujarat-headquartered NBFC MAS Financial Services have received approval from the Securities and Exchange Board of India (SEBI) for their initial public offerings.

The capital markets regulator issued final observations on the IPO pr

RInfra files revised InvIT IPO file with lower fund target

Reliance Infrastructure has filed revised papers with markets watchdog Sebi for its proposed InvIT Fund IPO, scaling down the issue size to Rs 2,500 crore from Rs 3,000 crore earlier, reported PTI. Sources said RInfra filed the revised offer document or draft red herring prospectus (DRHP) after it could get NHAI permission for only seven of its 11 road assets to the fund as the remaining four a

Mahindras plan IPO or strategic sale in logistics arm in FY19

The diversified Mahindra Group may either list or part sell its logistics arm next fiscal to a foreign partner, a top official said according to the PTI report. "There are certain milestones which will be achieved in 2017-18 and in the next fiscal, we will either come out with an IPO or do a strategic alliance which may involve partnership with an overseas player," Mahindra Logistics

India's IRB InvIT Fund seeks up to $724 million in IPO

MUMBAI - India's IRB InvIT Fund is seeking to raise as much as 46.5 billion rupees ($723.6 million) in an initial public offering next week, kicking off the first-ever listing of an infrastructure investment trust in the country.

IRB InvIT Fund, which is sponsored by IRB Infrastructure Developers Ltd, plans to rais

Yext announces pricing of initial public offering

Yext, Inc., the Knowledge Engine provider, today announced the pricing of its initial public offering of 10,500,000 shares of its common stock at a public offering price of USD 11.00 per share. The shares are expected to begin trading on the New York Stock Exchange on April 13, 2017, under the symbol "YEXT," and the offering is expected to close on April 19, 2017, subject to customary

IPO fever ahead: Government identifies 6 PSUs to list on bourses

The government has identified six profit making PSUs, including four from defence sector, for accessing the capital market in the current fiscal and listing on stock exchanges, reported PTI. The Department of Investment and Public Asset Management (DIPAM) is scouting for merchant bankers and legal advisors to advise the government on the Initial Public Offering (IPO) of MSTC, NEEPCO, Bharat Dyn

India active IPO market; 26 firms raise $619 mn in Q1: EY

India was among the most active IPO markets in the EMEIA (Europe, Middle East, India and Africa) region, with BSE and NSE (national Stock Exchange) registering 26 IPOs worth USD 619 million in first quarter this year, says an EY report as per the PTI. Main boards of the two exchanges together saw four initial share sale offers of USD 573 million. In addition, 24 firms raised USD 46 million from

Avenue Supermarts to list shares on Tuesday

D-Mart parent, Avenue Supermarts, which recently concluded its Rs 1,870-crore initial public offering, will list its shares on bourses on Tuesday, said the media reports. The price band for the public issue of Avenue Supermarts, the operator of retail chain D-Mart, was fixed at Rs 295-299 and the IPO was open for subscription during March 8-10. Proceeds of the issue would be utilised for variou

Music Broadcast shares rise on debut after $75 million IPO

MUMBAI - Shares of Music Broadcast Ltd rose as much as 24.6 percent in their trading debut on Friday, after the radio station operator's initial public offering of shares raised $75 million.

Music Broadcast shares were at 397.55 rupees by 0431 GMT on the National Stock Exchange, having risen to as high as 415 rupees, compared with their issue price of 333 rupees.<

Greensignal Bio Pharma to Go For Intial Public Offer

Chennai-based, GreenSignal Bio Pharma Ltd, Vaccine manufacturing firm is in the process of coming out with an Intial Public Offer (IPO). It has set the price band at Rs76-80 per equity for its IPO via which it plans to raise around Rs112 crore, according to the Draft Red Herring Prospectus (DRHP) issued. The 100 per cent book building issue will commence on 9 November and will close on 11 Novem

India's $174 million Endurance Tech IPO oversubscribed on last day

MUMBAI - Indian auto parts maker Endurance Technologies' 11.6 billion rupee ($174 million) initial public offering (IPO) was nearly 44 times oversubscribed on Friday, stock exchange data showed.

The company received bids for 754.3 million shares against 17.2 million on offer, according to data updated as of 0115 GMT.

The shares were being sold in a price

G N A Axles makes strong debut on BSE; lists at 20% premium

The Jalandhar-based G N A Axles kicked-off trading on the Bombay Stock Exchange on robust note and opened at Rs 248.50 apiece against an issue price of Rs 207, listing at a premium of around 20 per cent. According to PTI report, G N A Axles' Rs 130-crore IPO was oversubscribed nearly 55 times during September 14-16. The company had fixed the price band at Rs 205-207 per share for the offer.

HPL Electric IPO fully subscribed

The initial public offer (IPO) of HPL Electric & Power was fully subscribed till afternoon trade on the last day of the bidding today, reported PTI. The IPO received bids for 1,53,74,240 shares as against the total issue size of 1,44,40,001, translating into a subscription of 1.06 times till 1300 hours, latest data available with NSE showed.

The quota reserved for qualified instit

BSE may launch IPO by Q4 of this fiscal

BSE may launch its initial public offer (IPO) by the fourth quarter of this fiscal as it does not anticipate any major hurdles to the issue, media report said. “Since we have filed, we have not yet received any communication seeking any clarification so far from SEBI.

We do not anticipate any major hurdle and expect their approval over the next 60-70 days,” sources involve

Strong demand for $904 million IPO of India's ICICI Pru Life

MUMBAI - India's ICICI Prudential Life Insurance Co Ltd saw strong demand on Wednesday for its up to $904 million initial public offering, the nation's biggest for six years, with investors putting in orders for more than 10 times the number of shares on offer.

The IPO, the first by an Indian insurer, received bids for about 1.38 billion shares, or 10.4 times