Companies and Markets

Companies & Markets

Bandhan Bank IPO subscribed 14.63 times

Bandhan Bank’s initial public offering got a huge response and was subscribed 14.63 times, as per stock exchange data.

The biggest public offer so far this year that aimed to raise Rs 4,473 crore was lapped up by qualified institutional buyers and high net worth investors while the retail individual investors response was quite low key.

Lemon Tree Hotels sets price band at Rs 54-Rs 56

Lemon Tree Hotels announced a Rs 1,040 crore initial public offering in the price band of Rs 54-Rs 56 per equity share of Rs 10 face value.

The share issue by the largest mid-sized hotel chain opens on March 26 and closes on March 28.

The anchor investor bidding and allotment will take place on Friday, March 23.

Lemon Tree opened its first hotel in 2004 and has since expanded to 45 hotels in 28 cities with 4,697 rooms and over 5,000 employees as on January 31, 2018.

Delhi's CP third most costly office conclave

Established business districts across key Indian metros dwarfed many matured international markets in rental growth and in terms of overall gross effective rents, according to the Knight Frank Asia-Pacific Prime Office Rental Index Q4 2017.

Suzlon to build TWO wind projects in Gujarat

Wind turbine maker Suzlon Energy, the fifth largest player globally, on Monday said it has won two wind power projects totaling 500 megawatts, which would earn it total revenues of about Rs 3,250 crore.

The Pune-headquartered renewable energy solution provider said it has won two wind power projects of 300 MW and 200 MW.

The company will install 238 units of S111 140m wind turbine generators (WTGs) with rated capacity of 2.1 MW each, Suzlon said in a statement.

The projects will be located at Kutch district in Gujarat, it said.

Weakness in market could continue

The market continued to face selling pressure with the Sensex falling by 252.88 points to close at 32,923.12 while the Nifty shed  100.90 points to settle at 10,094.25.

The BSE Mid-Cap and Small-Cap indices lost 1.58 per cent and 1.98 per cent, respectively, underperforming the Sensex by a wide margin.

Among the sectoral indices on BSE, the IT index was down 1.98 per cent, Telecom 3.4 per cent, Bankex 1.09 per cent, Metal 2.65 per cent and Oil & Gas 1.7 per cent. The Realty index was down 3.01 per cent.

Technical view

Key indices crack under selling pressure 

Buffetted by heavy selling, benchmark indices Sensex and Nifty cracked below crucial resistance levels, as investors dumped stocks ahead of the crucial US Fed meeting later this week.

Busiest year ever for IPOs: 38 done, 8 more coming

In terms of IPO volumes raised, 2017-18 is being billed as the busiest financial year ever for India.

Consider the following: 38 IPOs have concluded to date with IPO fund raising volume of over Rs 66,000 crore. That is not all. At least eight more IPOs are lined up in the remaining few days of the financial year, racing against the time to conclude these IPOs before LTCG taxation kicks-in, starting April 1.

IFCI gets SC nod for sale of Park Hyatt Goa to ITC

Government owned Industrial Financial Corporation of India (IFCI) on Monday got the green light from the Supreme Court in a two-year-old case in which the apex court upheld the sale of Park Hyatt Goa to ITC Ltd through an auction held under the aegis of IFCI for recovery of dues worth Rs 515 crore.

UltraTech roils Binani Cement case with Rs 7K cr counter offer

Even as Kumar Mangalam Birla-led UltraTech Cement upped the ante on Monday by making a counter offer for Binani Cement -- offering Rs 7,266 crore to its parent company -- Dalmia Bharat maintained that its resolution plan for the loan defaulter had been approved by all members of a committee of creditors (CoC) who have now referred the matter to the National Company Law Tribunal for its final nod on the issue.