Indostar Capital in spotlight on debut

Shares of Indostar Capital Finance will debut on the bourses today, 21 May 2018. The company had issued shares at Rs 572 per share in the recently concluded initial public offer (IPO). The IPO of Indostar Capital Finance received bids for 15.36 crore shares, as against 2.25 crore shares on offer. The issue was subscribed 6.80 times. The issue opened for subscription on 9 May 2018 and closed on 11 May 2018. The price band for the issue was fixed at Rs 570 to Rs 572 per share.

Tata Steel announced that Bamnipal Steel (BNPL), a wholly-owned subsidiary of Tata Steel has successfully completed the acquisition of controlling stake of 72.65% in Bhushan Steel (BSL) in accordance with the approved Resolution Plan under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016 (IBC). The announcement was made after market hours on Friday, 18 May 2018.

The admitted CIRP cost and employee dues have been paid, as required under IBC. Further, settlement of the amounts equivalent to Rs 35200 crore towards financial creditors of BSL is being undertaken as per the terms of the resolution plan and corresponding transaction documents Rs 1200 crore will be paid to the operational creditors of BSL over a period of 12 months as per their admitted claims and as per the terms of the approved Resolution Plan.

Indiabulls Real Estate said that the board of directors of the company has, at its meeting held on 18 May 2018, has approved the proposal of buy-back of up to 2.6 crore fully paid-up equity shares of Rs 2 each of the company, being approx. 5.45% of existing paid-up share capital of the company, at prevailing market price on stock exchanges subject to a price not exceeding Rs 240 per equity share, aggregating up to an amount not exceeding Rs 624 crore, being less than 10% of total paid-up share capital and free reserves of the company from the open market through the stock exchange mechanism. The announcement was made after market hours on Friday, 18 May 2018.

Indoco Remedies announced the successful completion of USFDA inspection of API manufacturing facilities at Patalganga and Rabale, Navi Mumbai. The routine FDA inspection was conducted at Patalganga facility from 7 to 11 May 2018 and Kilo Lab facility at Rabale from 14 to 17 May 2018. During the audit, the FDA thoroughly inspected Indoco's entire quality management systems to ensure compliance with federal regulations. The announcement was made after market hours on Friday, 18 May 2018.

The inspection included a review of production facility, processes and procedures, training records, quality systems and control procedures. The Kilo Lab facility received zero 483s from the agency, while its API plant at Patalganga cleared the inspection with 3 observations; none of them are critical or pertain to data integrity.

Bajaj Holdings & Investment's consolidated net profit rose 42.37% to Rs 801.25 crore on 22.72% rise in total income to Rs 222.57 crore in Q4 March 2018 over Q4 March 2017. The announcement was made after market hours on Friday, 18 May 2018.

Sheela Foam's consolidated net profit rose 92.69% to Rs 32.16 crore on 14.43% rise in total income to Rs 534.56 crore in Q4 March 2018 over Q4 March 2017. The announcement was made after market hours on Friday, 18 May 2018.

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