Ruchi Soya Industries, a subsidiary of Baba Ramdev-owned Patanjali, has filed preliminary papers with the Securities and Exchange Board of India for its follow-on public offer. Per the company’s DRHP, it will be aiming to raise a maximum of Rs. 4,300 cores. Patanjali has to let go 9% stake in Ruchi Soya via this FPO. …
The IPO festival of India continues with the addition of Gemini Edibles & Fats India Limited to its upcoming list. The edible oil manufacturer has filed DRHP (draft red herring prospect) with the market regulator SEBI to go public with an IPO issue size of Rs. 2500 crores. This IPO will consist of only OFS, …
As GR Infraprojects makes its debut in BSE and NSE today, it has started its journey at a premium of 103%. This astonishing rise over the issue price is due to its high demand in the secondary market. This has surpassed analysts’ expectations, mainly due to the company’s current financial status and the Government’s focus …
LIC Housing Finance, a subsidiary arm of Life Insurance Corporation, said that stock exchanges are currently looking into the issue of preferential shares to the parent company. This news came after the company announced that LIC would issue equity capital worth Rs. 2334.70 crores by upturning additional stakes. That’s not all! LIC Housing Finance received …
Razorpay, on 19 April 2021, announced that they have raised a funding of $160 million in their Series E funding round, gaining a total valuation of $3 billion. The Bengaluru-based fintech company is India’s first Y Combinator-backed startup to achieve unicorn status, having tripled its valuation in less than six months. Razorpay was founded in …
The second wave, which has now gone past its peak in India, has left its mark on some sectors more than the others, the multiplex industry being one such sector. With lockdowns in several states as cases began to rise towards the second half of April, multiplexes much like other outlets had to be shut …
Overview of IndiGo’s Strategy IndiGo, one of Asia’s largest budget airlines, plans to sell shares to raise 30 billion rupees ($409 million) as India’s pandemic outbreak worsens, putting any domestic or foreign air travel recovery on pause. IndiGo, which is owned by InterGlobe Aviation Ltd., has approved a plan to raise funds by selling shares …
An Overview of Government’s Strategy The Central government is working to give Central Public Sector Enterprises (CPSEs) more autonomy, allowing them to be professionally managed and giving them more say in business decisions to help them compete on an equal footing with private-sector rivals. Since January, the cabinet secretariat has been discussing the issue with …
A Brief Overview Known as the country’s very own mobile manufacturer, Lava International has circulated a letter among its existing shareholders seeking their go-ahead in order to go public by way of an initial public offering (or IPO). This letter highlighted its desire to go public by offering equity shares. This transition to public ownership …
Overview RIL’s fourth-quarter net profit rose 108.36% year-on-year to Rs 13,277 crores. In the previous quarter, the oil-to-telecom conglomerate posted a consolidated net profit of Rs 6,348 crores. Reliance Industries Ltd had a net profit of Rs 13,101 crores in the previous quarter (October-December 2020). RIL’s income generated from operations in the fourth quarter was …
