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IPO NEWS

Headlines:

Indian stocks edge higher in lackluster trade; ITC up 3%

S Chand IPO oversubscribed 1.96 times on Day 2  -   28/04/2017 00:01
T he initial public offering of textbook publisher S Chand and Company was oversubscribed 1.96 times on the second day of the offer, reported PTI. The IPO received bids for 1,50,41,466 shares against the total issue size of 76,85,284 shares, data available with the NSE showed. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.68 times, while that for non- institutiona...
Stricter monitoring of IPO proceeds by small firms: Sebi  -   27/04/2017 00:04
T o check any misuse of funds raised through public offers, Sebi made it mandatory for companies raising over Rs 100 crore via share sale to appoint a monitoring agency to keep tab on use of the capital, reported PTI. Under the present norms, such a monitoring agency -- which could be a bank or a public financial institution -- is required to be appointed only by the companies raising more than Rs 500 cro...
Cochin Shipyard, Prataap Snacks, Tejas get Sebi go-ahead for IPO  -   26/04/2017 11:18
A s many as three firms -- Cochin Shipyard, Prataap Snacks and Tejas Networks -- have received markets regulator Sebi's approval to raise an estimated over Rs 2,300 crore through initial public offerings, reported PTI. The three companies had filed their draft red herring prospectus (DRHP) with Sebi between September and March and received 'observations' from the regulator during April 13-21,...
IPO proceeds will be used to reduce debt by 75%: S Chand  -   25/04/2017 00:13
S Chand plans to repay loans worth Rs 255 crore from its IPO opening on April 26, that would reduce its debt burden by 75 per cent, reported PTI. The IPO comprises fresh issue of shares worth Rs 325 crore in addition to Rs 403 crore of offer for sale at the higher band of Rs 670. The total size of the IPO will be about Rs 728 crore at the higher band. The repayment will partially include the loans it...
SME IPOs catch investors eye, raise Rs 811 cr in FY17  -   24/04/2017 11:16
S mall and medium enterprises (SMEs) raised a staggering Rs 811 crore through initial public offerings in 2016-17, more than two-fold jump from the preceding fiscal, reported PTI. The huge fund-raising can be attributed to reforms and initiatives taken by the government to encourage the SME sector. Funds raised through the issue were used for business expansion plans, working capital requirements and o...
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