"Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company told exchanges after a board meeting Wednesday evening.
2023-02-02T06:54:02+05:30


2023-02-01T22:57:10+05:30


Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances
2023-02-01T22:32:00+05:30


The flagship entity of the Adani Group got bids for 50.9 million shares against an offer size of 45.5 million shares, excluding the anchor book, at a price range of ₹3,112-3,276 apiece. Adani Enterprises closed 2.8% higher at ₹2,973.90 Tuesday on the BSE, having dropped for two days in a row. The benchmark Sensex ended almost flat Tuesday.
2023-02-01T06:28:47+05:30


2023-01-31T15:56:11+05:30


Such rights allow an employee to receive a bonus equivalent to the rise in the company's stock price over a certain period - something Indian regulations prohibit for companies going public.
2023-01-31T13:20:50+05:30


Balaji Solutions' revenue from operations stood at Rs 482 crore in FY22, falling marginally due to normalisation post-easing of Covid-19 lockdown restrictions, while profit for the same period came in at Rs 15 crore.
2023-01-31T13:19:09+05:30


The company may consider a pre-IPO placement aggregating up to Rs 24 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance worth Rs 86.60 crore will be utilized for funding incremental working capital requirements of the company, and general corporate purposes.
2023-01-31T11:59:52+05:30


Additionally, AEL is close to receiving further investment commitments of $1-1.1 billion (around ₹8,100-9,000 crore) from investors in Middle East and Southeast Asia with the announcement expected on Tuesday when the FPO closes, said a person directly aware of the matter.
2023-01-31T06:55:39+05:30


Incorporated in 2018, FirstMeridian provides a wide range of service offerings, including general staffing and allied services, by offering solutions for contract staffing, workforce automation, trade marketing, and global technology through short and long-term technology contract staffing
2023-01-30T17:52:18+05:30


IHC will make the investment through its subsidiary Green Transmission Investment Holding RSC Limited.
2023-01-30T17:00:43+05:30


2023-01-28T22:37:34+05:30


According to the offer documents, the company proposes to use '4,165 crore of the issue proceeds to repay the debt owed by the company and three subsidiaries - Adani Airport Holdings, Adani Road Transport and Mundra Solar.
2023-01-28T09:07:29+05:30


2023-01-25T13:17:20+05:30


The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.
2023-01-25T11:58:15+05:30


The capital markets regulator said it returned PayMate's offer document back to its merchant bankers on January 17. PayMate said in a press release it aims to submit the mandatory system audit report (SAR) to the Reserve Bank of India by the second week of February. Submission of SAR to the central bank is part of the standard operating protocol to receive final approval from the central bank as payment aggregator, it said.
2023-01-25T06:28:10+05:30


The Goldman Sachs- and Equity International-backed company had filed a DRHP with the markets regulator in 2019 to raise about Rs 1,900 crore through an initial public offering of shares, but the plan was shelved due to the pandemic.
2023-01-24T10:42:23+05:30


The company plans to use the proceeds from the fresh issue to repay outstanding loans availed by it and its subsidiary Avalon Technology and Services Pvt Ltd, and also to meet working capital requirements
2023-01-23T19:36:31+05:30


RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. "While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely," the brokerage said.
2023-01-23T13:27:38+05:30


2023-01-21T18:42:18+05:30


Adani Group has consistently aligned itself to support Prime Minister Narendra Modi’s agenda. It has pledged more than $70 billion to help India pivot from being a fossil fuel importer to a generator of renewable energy.
2023-01-21T17:07:15+05:30


According to the draft papers, the public issue with a face value of Rs 5 per equity share consists of a complete fresh issue of shares of Rs 750 crore with no offer-for-sale component.Of the proceeds from its fresh issuance, Rs 400 crore will be utilised for prepayment/repayment of all or a portion of outstanding borrowings availed by the company, and Rs 200 crore will be used to fund working capital requirements and general corporate purposes.
2023-01-19T19:05:13+05:30


The company will offer partly paid shares to retail investors at a discount of ₹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.
2023-01-19T06:54:18+05:30


Secondary share sale to offer exit to legacy fin investors, growth equity for expansions.
2023-01-19T06:00:00+05:30


The company had filed its draft red herring prospectus (DRHP) for the IPO with Sebi in September 2021 and is aiming to raise Rs 8,430 crore. Oyo’s last submission to Sebi was the updated financial results of the first half of financial year 2022-23.
2023-01-18T10:48:48+05:30


As per the draft papers, Innova Captab's proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders.
2023-01-17T20:22:56+05:30


The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware.
2023-01-17T19:55:27+05:30


Innova Captab is an integrated pharmaceutical company in India with a presence across the value of the pharmaceutical chain including research and development, manufacturing, drug distribution and marketing, and exports. The company filed preliminary IPO papers with Sebi on July 07, 2022.
2023-01-17T17:18:33+05:30


2023-01-17T10:06:01+05:30


The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%. As of September 2022, the promoters owned 72.63% of Adani Enterprises, while the remaining 27.37% was with public shareholders. Life Insurance Corporation held 4.03% among the public shareholders, while Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund, and Lts Investment Fund owned stakes between 1% and 2%.
2023-01-17T06:45:25+05:30


In the past six months, 27 companies with IPO plans worth ₹38,000 crore have allowed their regulatory approvals to lapse, according to Prime Database numbers. Similarly, the permissions to another nine firms planning to raise a total of ₹15,000 crore are set to expire over the next two months.
2023-01-16T06:34:27+05:30


The company, ICICI Securities and JM Financial, did not respond to ET's queries. In 2018, Oman India Joint Investment Fund invested $24 million or ₹170 crore in the company for a 26% stake.
2023-01-13T06:22:54+05:30


Cyient DLM focuses on highly complex, low-volume electronics manufacturing for safety-critical segments. The company had last year appointed Anthony Montalbano as its CEO.
2023-01-10T11:00:22+05:30


Adani Enterprises late November announced the initiation of a much-awaited follow-on public offer (FPO) to raise as much as ₹20,000 crore ($2.5 billion) from retail and institutional investors, riding piggyback on the meteoric 18-fold jump in its stock prices in the last five years. This will be the largest such issuance in India to date.
2023-01-10T06:35:27+05:30


For a developing country such as India, Small and medium enterprises (SMEs) are the wheels that turn the economy, and SMEs contribute to one-third of India's GDP. The SMEs have played an essential role in India's socio-economic development and in globally developed countries such as Germany. In fact, SMEs generate 54.4% of overall value added in Germany and 63.7% of overall employment in the German non-financial business economy.
2023-01-08T11:59:34+05:30


Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides. It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research & Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm.
2023-01-06T17:07:32+05:30


He said setting right expectations, being transparent and not overselling are great ways to reduce the volatility of the stock price pre and post-IPO. "Doing this well can make shareholders feel like owners & help reduce customer acquisition costs, the biggest cost for B2C businesses."
2023-01-05T14:00:23+05:30


Shares of the cash logistics player closed at ₹106.50, a 13% premium to the issue price. This is the first IPO to close above the offer price on listing day in the past six issues.
2023-01-05T06:24:44+05:30


The quota for retailers was subscribed 39.78 times whereas the portion for non-institutional investors fetched 33.94 times bids, and the allocation for qualified institutional bidders was booked 2.40 times.
2023-01-04T13:53:16+05:30


The company had filed its Draft Red Herring Prospectus (DRHP) with Sebi in September 2021 and is aiming to raise Rs 8,430 crore
2023-01-03T16:17:23+05:30


The company is selling its shares in the range of Rs 61-65 apiece between December 30 and January 4, in a lot size of 230 equity shares
2023-01-03T13:56:50+05:30


Pranav Haldea, Managing Director, PRIME Database, said the momentum seen in the last 2 months of 2022 is likely to continue, at least for the smaller-sized IPOs. However, it may be a while before we see larger-sized deals, especially in light of the lack of sustained interest from FPIs, he said.
2023-01-03T13:53:28+05:30


Overall, 40 Indian corporates raised Rs 59,412 crore through main board IPOs in calendar year 2022, half of the Rs 1,18,723 crore (all-time high) mobilized by 63 IPOs in 2021, according to the database. According to Pranav Haldea, Managing Director, PRIME Database Group, Rs 20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone.
2023-01-03T13:49:18+05:30


In the past two years, several large FMCG companies, such as HUL, ITC, Marico, Emami, Reckitt, Wipro Consumer and Colgate Palmolive, have picked up stakes in DTC digital-led startups that garnered popularity among consumers during the Covid-19 pandemic.
2023-01-03T06:17:35+05:30


Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes.
2023-01-02T16:23:01+05:30


Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.
2023-01-02T15:56:52+05:30


Oyo has been asked to update information such as updated risk factors, key performance indicators (KPIs), outstanding litigations and basis for valuation, the people cited above said.
2022-12-31T17:49:43+05:30


Incorporated in the year 1992, Sah Polymers is a leading PP woven bags manufacturer and exporter of PP woven bags and HDPE box bags, flexible intermediate bulk containers (FIBCs), and BOPP laminated bags.
2022-12-30T11:30:50+05:30


The stock closed at ₹364 apiece on the BSE, down 0.55% from its IPO price of ₹366. The stock touched a high of ₹372.40 and a low of ₹351.10 during Thursday's trading. Analysts are advising short-term investors, who bet on KFin Tech's public issue, to book profits and re-enter after a clear trend emerges.
2022-12-30T06:10:43+05:30


2022-12-29T18:19:30+05:30


"For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO," Adani said in a message to shareholders.
2023-02-02T08:48:37+05:30


2023-02-02T08:45:27+05:30


Apar Industries stock rose 18% during Wednesday's trading session, continuing its previous day's gains after the company reported a 210% increase in its consolidated profit after tax to Rs 170 crore in the December quarter.
2023-02-02T08:41:45+05:30


The U.S. central bank announced an expected 25 basis points interest rate increase after a year of larger hikes and said it had turned a key corner in the fight against a high inflation rate. But policymakers projected "ongoing increases" in borrowing costs would still be needed.
2023-02-02T08:33:36+05:30


In the United States, Friday's nonfarm payrolls report will be the next test of the Fed's fight against inflation, though Wednesday's JOLTS report showed that job openings unexpectedly rose in December, pointing to a still-tight labour market.
2023-02-02T08:30:31+05:30


The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday, yet continued to promise "ongoing increases" in borrowing costs as part of its ongoing battle against inflation.
2023-02-02T08:27:01+05:30


The Fed on Wednesday scaled back to a quarter-percentage-point rate increase after a year of larger hikes. Powell warned of further monetary policy tightening but also noted the progress on disinflation, which he said is in its early stages.
2023-02-02T08:19:07+05:30


Investors were mostly focused on the Fed's path forward, as the size of increase for its first policy meeting of the year was in line with expectations after rapid increases in 2022 including a December rate hike of 50 basis points.
2023-02-02T08:13:08+05:30


2023-02-02T08:02:24+05:30


Meta stock surged nearly 19% in after-hours trade. If gains hold on Thursday, it would set up the shares for their biggest intraday surge in a decade and added more than $75.5 billion to its existing $401 billion market capitalization.
2023-02-02T08:00:20+05:30


Adani Green Energy’s 4.375% bond due Sept. 2024 declined more than 12 cents on the dollar to 66.75 cents in high-yield secondary trading, according to Trace data. One of Adani’s other green bonds fell 9 cents on the dollar, but did not yet reach distressed level.
2023-02-02T07:53:56+05:30


2023-02-02T07:31:35+05:30


Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that.
2023-02-02T00:46:18+05:30


The Adani group on January 29 gave a detailed response to the Hindenburg report, refuting the allegations and stating that most of the observations relate to matters that have been duly disclosed by the conglomerate in the past
2023-02-01T23:05:34+05:30


2023-02-01T22:57:10+05:30


Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances
2023-02-01T22:32:00+05:30


The pan-European STOXX 600 was up 0.3% by 0943 GMT, after clocking its biggest January gain since 2015 at 6.7%, on hopes of better-than-expected corporate earnings and signs of economic resilience. Sweden's Husqvarna jumped 5.6% to the top of the STOXX 600 after the Swedish gardening power tools maker reported better-than-expected fourth-quarter sales, while Danish drug maker Novo Nordisk rose 0.6% on strong 2023 sales growth expectations
2023-02-01T22:23:05+05:30


The source told Reuters the Indian market regulator is also looking into any possible price manipulation of Adani group stocks, as well as examining possible irregularities in the $2.5 billion share sale of the flagship firm Adani Enterprises , which concluded on Tuesday.
2023-02-01T22:02:59+05:30


2023-02-01T22:00:00+05:30


Bond, equity markets react; Adani Group officials say no hold co guarantee on any loans. Leverage against Ambuja, ACC cash flows not linked to share price
2023-02-01T21:57:05+05:30


2023-02-01T21:41:51+05:30


Will Fed officials stand by this guidance or turn a bit dovish will be important to watch out for, and this will decide the course of market direction
2023-02-01T21:22:34+05:30


Finance Minister Nirmala Sitharaman announced to ramp up capital investment for the third year in a row by 33% to Rs 10 lakh crore
2023-02-01T21:05:42+05:30


For more such web stories click on the ET icon below
2023-02-01T21:02:17+05:30


The margin parameters applicable for collection of margin obligation by Clearing Corporations would continue to be updated on intra-day and EOD basis, as per the extant provisions.
2023-02-01T20:55:04+05:30


The government has yet again been fiscally disciplined and maintained the fiscal deficit target of 6.4% in the revised estimate for FY 2022-23 and decreased it to 5.9% for the following fiscal year
2023-02-01T20:50:27+05:30


2023-02-01T20:47:24+05:30


All 10 stocks belonging to billionaire Gautam Adani's vast empire were reeling under the impact of the Hindenburg report today. While Adani Ports crashed 20%, Adani Total Gas hit a 10% lower circuit. Shares of Ambuja Cement also closed 17% lower
2023-02-01T20:37:32+05:30


Biocon did not reveal the price at which the stake was sold.Officials at Syngene and Biocon did not immediately respond to a Reuters query seeking the reason for the stake sale and the price at which the sale was executed
2023-02-01T20:32:33+05:30


Backed by the healthy consumer demand during the festive season, the company saw a 12% on-year growth in combined sales in the standalone business during the December quarter, according to the provisional update it provided in January.
2023-02-01T20:31:52+05:30


The three takeaways from the Budget, according to Morgan Stanley, include gradual and realistic fiscal consolidation path, improving quality of spending and push for capex spending and focus on improving access to amenities, push for social and digital infrastructure and India's climate change targets
2023-02-01T20:26:34+05:30


The susceptibility of capital flows and currency markets to relative growth performance has intensified
2023-02-01T20:15:57+05:30


At 10:26 a.m. ET, the Dow Jones Industrial Average was down 219.55 points, or 0.64%, at 33,866.49, the S&P 500 was down 10.80 points, or 0.26%, at 4,065.80, and the Nasdaq Composite was down 17.20 points, or 0.15%, at 11,567.35.
2023-02-01T20:11:50+05:30


2023-02-01T20:00:09+05:30


For Adani Enterprises, the maximum open interest build-up is seen at Rs 2,200 put strike and Rs 3,000 call strike. For Adani Ports, the maximum open interest build-up is seen at Rs 450 put strike and Rs 700 and Rs 600 call strike prices. Open interest in the February futures contract of Adani Enterprises increased by 8% and by 5.1% on Adani Ports
2023-02-01T19:57:21+05:30


The Indian government is in touch with the market regulator SEBI regarding th allegations made by a U.S. short seller last weekthat cast doubts on Adani Group's business practices, a senior government source told Reuters on Wednesday.
2023-02-01T19:44:57+05:30


Recent economic reports suggest price pressures are easing and growth is cooling – all signs that the US economy is responding to the Fed’s aggressive rate increases as policymakers work to tame inflation. But a still-tight labor market could add more pressure on the Fed to extend its tightening campaign or hold rates at restrictive levels for longer.
2023-02-01T19:43:58+05:30


The company clocked a 32% increase in the revenue from operations at Rs 4,148 crore during the October-December 2022 period, which stood at Rs 3,141 crore in the year-ago period. The total expenses of the firm spiked 24.14% YoY to Rs 3,560 crore in Q3
2023-02-01T19:33:04+05:30


Domestic sales (M&HCV and LCV) in the reporting month were recorded at 16,198 units, a growth of 27 per cent over 12,709 units in January 2022.
2023-02-01T19:10:56+05:30


"The government has only been an enabler and if you look at all the digital stack which is being talked about all over the world, that is actually one of the biggest enablers in terms of the investors being able to participate so seamlessly. If you look at all the announcements that have happened about the digital transaction and about the fintechs, the way they can actually participate, there is going to be a single source of all the information from where the digital enablement will happen."
2023-02-01T18:51:20+05:30


The PCR ratio for the near week expiry stands at 0.54 and for the next week expiry at 0.68. The overall writing data suggests negative bias as Call writing is higher than Put writing. The immediate or temporary bounce back cannot be ruled out as PCR ratio drops near to 0.50 levels, said analysts
2023-02-01T18:35:04+05:30


2023-02-01T18:27:05+05:30


“The sentiments of retail is also sour for whatever has happened in the last couple of days and to that extent, India's local micro setup, which is more to do with flows as well as sentiment, which are a little bit on the downtick and which perhaps is the reason why despite a reasonably strong sort of Budget for all sort of audiences, even bond markets are down 6-7 basis point.”
2023-02-01T18:27:01+05:30


Defence stocks ended the day down between 4-9% even as the defence budget was increased to Rs 5.94 lakh crore for 2023-24. >> For more such web stories click on the ET icon below
2023-02-01T18:09:23+05:30


The brokerage expects AUM growth of 16.4% (from 14.7% in FY22) to Rs 7.2 lakh crore. With more than 4.5% QoQ growth in individual AUM, it expects HDFC to register >20% YoY growth while non-individual loans will also see positive low-single digit growth YoY.
2023-02-01T18:02:22+05:30


"If we want these corrections to be more limited, if we want the Budget to be celebrated in the way it should be, we will need a degree of clearing the air statements from our regulator. Because of the point of view out there, every foreign investor I have spoken to in the last seven days, India has to stand up and India's institutions have to stand up and give us comfort on governance."
2023-02-01T17:48:27+05:30


2023-02-01T17:43:02+05:30


The fees are equivalent to around 0.5% of the 200 billion rupees raised in Adani Enterprises Ltd.’s offering, said the people, who asked not to be identified as the information is private.
2023-02-01T17:27:01+05:30


2023-02-01T17:22:15+05:30


The defence sector saw a decline in stock prices on Wednesday as the government allocated less money to the sector in its budget than it did in the previous year. The outlay for the defence sector in FY24 is Rs 4.3 lakh crore, an increase of just 5.5%. In FY23, the defence ministry was allocated Rs 5.25 lakh crore, which was 13.31% of the total Budget
2023-02-01T17:20:43+05:30

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