Jindal Power to float IPO to mop up Rs 7,200 cr for expansion
For an initial public offering of Rs 7,200 crore, Jindal Power (JPL) announced the filing of its draft red herring prospectus where it is the largest since the Rs 11,500-crore IPO of Reliance Power in January 2008. However, JPL is mobilizing the funds for brownfield expansion at Raigarh in Chhattisgarh while JPL plans to more [...]
JSW Energy IPO price band at Rs 190-200/sh
JSW Energy files Draft Red Herring Prospectus with the SEBI where Sajjan Jindal owned Power Company is looking at raising close to Rs 3,000 crore by diluting 11% stake in the company and the price band is expected to be at Rs 190-200/share. However, JM Financial, ICICI Securities, JPMorgan, SBI Capital Markets, Kotak Mahindra Capital [...]
Govt plans to set up IPO watchdog
In an attempt to detect early possibility of fund raising with fraudulent intent, The government is planning to set up an expert body, which will be part of the ministry of corporate affairs, very soon, which will collate and analyze business data of companies raising capital through initial public offerings (IPOs). The intent behind setting [...]
NHPC public issue subscribed 23.7 times
The initial public offer (IPO) of NHPC that closed on August 12, was subscribed 23.72 times. The issue received bids for 3,979 crore shares as against an offer of 168 crore shares. The QIB portion was subscribed 29.1 times while HNIs 56.56 times and the retail 3.1 times. The price band for the issue was [...]
Oil India IPO opens for subscription on Sept 7
The nation”s second-largest state-run explorer, Oil India Ltd (OIL), will hit the market with an initial public offering (IPO) on September 7. According to a source, the offer will be open from September 7 to 11. The price band for the IPO is likely to be fixed on August 25, the source said. At present, [...]
NHPC IPO subscribed over 3 times
NHPC”s initial public offering has been subscribed more than three times on the first day of the issue. As per the data available on the National Stock Exchange website, the issue has been subscribed 3.22 times. Till 2 pm, 167.73 crore shares issue received 539.94 crore bids. More than 2.45 crore bids were made at [...]