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PowerGrid InvIT IPO: Should you subscribe to the issue? Net proceeds from the offer will be utilised toward providing loans to the initial portfolio assets for repayment or pre-payment of debt, including any accrued interest, and for general purposes. BusinessToday.In | April 29, 2021 | Updated 17:23 IST The public issue comprises a fresh issue of Rs 4,993.48 crore and an offer for sale of 2,741.51 crore. The initial public offering (IPO) of PowerGrid Infrastructure Investment Trust (InvIT) opened on Thursday. The price band for the share sale has been fixed at Rs 99-100 per unit. The issue received bids for 2,39,25,000 shares by 3:00 pm, compared with the size of 42,54,25,000 shares. ....
Explore Now New Delhi: The second wave of Covid-19 cases in India has badly hit investor sentiment on Dalal Street. However, a recent debutant has defied gravity and delivered up to 150 per cent return over issue price in just one-and-a-half months. The stock is Nureca, a healthcare and wellness products distributor company, which got listed at Rs 634.95 at a 58.74 per cent premium to its issue price of Rs 400 on February 25, 2021. The stock has surged to trade at Rs 951 on Friday, April 16. Nureca is a leading player of products that are in high demand due to Coronavirus. The second wave of the pandemic has increased demand for products like oximeters, thermometers, BP monitors, nebulisers and multivitamins, say analysts and market watchers. ....
NEW DELHI: The second-largest real estate sector initial public offering (IPO) in India opened on Wednesday. Macrotech Developers aims to raise Rs 2,500 crore via the issue, mostly to pay off part of its debt. Analysts are mixed on the issue with some counting superior return ratios as positives while others raising questions over its huge debt and negative cash flow. The grey market premium for the issue has also vanished. “We also expect listing gains will be very limited in this IPO. We also have some investment concerns for the IPO, with the firm having a net debt of Rs 16,700 crore as of December 2020, any downturn in industry may affect the company significantly,” said Yash Gupta, Equity Research Associate, Angel Broking. ....
NEW DELHI: Even though the management of Macrotech Developers sounded confident that its IPO will create “a huge amount of value” for investors, grey market premium for the unlisted shares has dried up just ahead of Wednesday’s opening of the issue. Dealers active in the unofficial market for unlisted stocks, or grey market, said the premium enjoyed by the stock has come down to Rs 2-4, as investors’ risk appetite declined sharply in the past few weeks following the re-emergence of Covid infections. “A week back the stock was commanding a premium of about Rs 25,30,” said Dinesh Gupta, Founder of Unlisted Zone, a platform that facilitates grey market trading. Grey market premium is considered a good indicator of demand for a stock and gives an idea of possible listing gain in an IPO. ....
Story Share Market Highlights: Sensex ends 1,197 points higher, Nifty at 14,647; SBI, HDFC twins, L&T top gainers India Stock Market News Updates Today: Earlier today, Sensex rose above the psychological key level of 50,000 and Nifty neared 14,700 BusinessToday.In | February 2, 2021 | Updated 16:05 IST Share Market News: Here s a look at the updates of the market action on BSE and NSE today Sensex, Nifty Highlights on February 2: Market indices rose another 2.5% each on Tuesday after a 5% budget driven rally in the previous session, with Sensex back at 50K mark and Nifty breaching 14,700. Extending gains for second session after Union Budget 2021, Sensex ended by 1,197 points to end at 49,797 and Nifty gained by 366 points to 14,647, amid positive global equities. Earlier today, Sensex and Nifty have hit intraday highs of 50,154 and 14,731. Sensex and Nifty have hit fresh lifetime highs of 50,184 and 14,753, on 21 January. Yesterday, benchmark indices Sensex ....