Page 48 - Ipo News Today

India Business News: Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct know.

Ibotta, the Denver-based digital marketing and consumer rebate platform, raised $577 million after demand for its shares outstripped expectations in its initial public offering.

During April-February, Vodafone Idea lost 16.2 million mobile subscribers, taking its total base to 220.5 million, according to data from the Telecom Regulatory Authority of India (Trai).

The Chennai-based firm also seeks to raise debt to fund a $5 billion expansion plan to establish itself as an end-to-end semiconductor manufacturing entity.

Many HNIs in India have been routing some of their investments through Mauritius, primarily to bid for shares in IPOs in the anchor book

The Vodafone Idea FPO will open for subscription on April 18 and close on April 22. The company has fixed a price band of Rs 10-11 per share for the FPO.

The allotment for the SME IPO of DCG Cables & Wires will be finalised later on Friday. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

Bank of Tokyo-Mitsubishi UFJ (MUFG) is set to buy a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank, at a valuation of $9-10 billion. The decision is expected to take place next week at the HDFC Bank board meeting. The deal is expected to be among the largest deals in the shadow banking space in India. HDFC Bank owns 95% of the shadow bank, while employees own 5% as ESOPs.

Explorer is first addition to the local bourse in a month

Bharti Hexacom: "The listing is beyond expectations and the movement thereafter even more surprising," said Arun Kejriwal, founder of Kejriwal Research and Investment Services.