 "Centre divests 8% in Hudco, Glenmark Life subscribed 4x on penultimate day")
Centre divests 8% in Hudco
The government has divested 8 per cent stake in Housing Urban Development Corporation (Hudco) through the offer for sale (OFS) route. The share sale received total bids for 194 million shares as against 160 million put on the block. Retail investors subscribed to just 18.4 per cent shares on offer in the OFS. The price for the share sale was fixed at Rs 45. Shares of Hudco ended at Rs 45.2 in the secondary market trade. The centre has raised Rs 720 crore through the share sale, which will go towards the 2021-22 disinvestment kitty. Following the OFS, the government’s stake in the company will decline to 81.81 per cent. Hudco is a provider of long-term finance for housing and urban infrastructure development projects.
Glenmark Life IPO subscribed 4x a day before close
The initial public offer (IPO) of Glenmark Life Sciences has garnered 4 times subscription a day before its close. Glenmark Life Sciences, a developer and manufacturer of active pharmaceutical ingredients (APIs), has priced its IPO between Rs 695 and Rs 720 per equity share. At the upper end, the company will have a market cap of Rs 8,822 crore. Glenmark Life, fully-owned subsidiary of Glenmark Pharma, plans to issue Rs 1,060 crore of fresh equity in the IPO. The IPO also comprises an offer for sale of 6.3 million shares worth Rs 453.6 crore by Glenmark Pharma.
Rolex Rings subscribed 3.5 times on Day-1
Rolex Rings’ initial public offer (IPO) garnered 3.5 times subscription on Wednesday, the first day of the issue. The price band for the IPO is Rs 880-Rs900 per share. The IPO closes on Friday. The offer comprises a fresh issue of Rs 56 crore and an offer for sale of shares worth Rs 675 crore. At the upper end of the price band, Rolex Rings will have a market cap of Rs 2,451 crore.
Tatva Chintan to list on Thursday
Shares of Tatva Chintan Pharma Chem will make their stock market debut on Thursday. The initial public offering (IPO) of the specialty chemical manufacturer has garnered 180 times subscription, second-most this year after MTAR Technologies. Shares were allotted at Rs 1,083 apiece in the IPO.
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