Non-banking financial company Arohan Financial Services and Dodla Dairy, a leading dairy company in South India, have received capital markets regulator Sebi s go-ahead to float initial share-sales. The two companies filed their preliminary papers with Sebi on February 15 and obtained its observations on April 23, an update with Sebi showed on Monday. Sebi s observation is very necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO), and rights issue. Arohan Financial Services plans to raise between Rs 1,750 crore and Rs 1,800 crore, as per market sources. The public offer of the Aavishkaar Group promoted company comprises a fundraise through a fresh issuance of shares amounting to Rs 850 crore, according to Draft Red Herring Prospectus (DRHP).
IPO alert: Arohan Financial Services, Dodla Dairy get Sebi s go ahead for IPO
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Arohan Financial Services, Dodla Dairy get Sebi s go ahead for IPO
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Rupee fall is hurting bonds now among Asia’s worst
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Last Updated: Apr 22, 2021, 08:04 AM IST
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Synopsis
The weaker rupee is also making borrowers hesitate to tap what would otherwise be some of the lowest borrowing costs ever in the dollar bond market.
ETAuto
By Rahul Satija
A slide in the rupee is exacerbating a slump in Indian corporate dollar notes that are now among the worst performers in Asia, just as concerns mount that companies are hedging less.
The securities have lost about 0.1% in April, worse than a 0.4% gain for a broader Asian dollar bond gauge, according to a Bloomberg Barclays indexes. All the other countries in Asia have posted positive returns, except China which lost about 0.4% after the stumble by China Huarong Asset Management Co.