Page 11 - Markets News

Pace Digitek aims to raise ₹819 cr via IPO; subscription opens on Sep 26

Telecom infrastructure solutions provider Pace Digitek Ltd is looking to garner Rs 819 crore through its initial public offering (IPO), which will open for subscription on September 26. In its statement, the company said it has fixed a price band of Rs 208 to Rs 219 per share for its maiden public offering, which will conclude on September 30. The Bengaluru-based company's IPO is a completely fresh issue of shares worth Rs 819.15 crore. Proceeds from the public issue, amounting to Rs 630 crore, will be used to fund capital expenditure requirements, and a portion will be allocated towards general corporate purposes. Incorporated in 2007, Pace Digitek is a multi-disciplinary solutions provider specialising in the telecom passive infrastructure industry, including telecom tower infrastructure and optical fibre cables. The company's revenue from operations was Rs 2,439 crore during FY25 as compared to Rs 2,434 crore in FY24. Its net profit stood at Rs 279 crore against Rs 230 crore a

Nippon India Growth Mid Cap Fund: Running with the bulls, holding the reins

Capturing midcap energy without losing control of the charge

Stagecraft of capital: Mkt marionette FPIs pull strings on consumer, power

Timed tugs tilt discretionary sectors, letting defensive and capital-heavy names take the lead

Maruti Suzuki India burns rubber, leaves key rivals in its rearview

Sport utility vehicle launches and market resets inject horsepower into the automotive sector, turning the carmaker into a pacesetter of the rally

Adani group adds ₹66K cr in value amid choppy markets after Sebi relief

Adani Group's nine listed firms gained up to 12 per cent as Sebi dismissed key Hindenburg charges, lifting market value by Rs 66,000 crore, with Adani Power leading the rally

Zelio E-Mobility to raise ₹78 crore via SME IPO for R&D, expansion

Hisar-based Zelio E-Mobility to raise Rs 78 crore through an SME IPO to fund new plants, strengthen R&D, reduce debt and enhance capacity to meet growing demand for EVs

Zydus Lifesciences growth aided by acquisitions, but execution risks loom

Zydus Lifesciences trades near 52-week highs on strong growth and acquisitions but analysts caution that rapid expansion and diversification may pose execution challenges

Advent International sells 8.9% stake in Cohance Lifesciences for ₹3,094 cr

Private equity firm Advent International on Thursday divested an 8.92 per cent stake in Cohance Lifesciences for Rs 3,094 crore through an open market transaction. US-based Advent International, through its arm Jusmiral Holdings, which is also the promoter of Cohance Lifesciences, offloaded 3,41,48,000 shares representing an 8.92 per cent stake in the company, as per the bulk deal data available on the NSE. The shares were disposed of at an average price of Rs 906 apiece, taking the deal value to Rs 3,093.81 crore. Hyderabad-based Cohance Lifesciences is engaged in a contract development and manufacturing organisation. After the stake sale, Jusmiral Holdings' equity stake in Cohance Lifesciences has come down to 24.16 per cent from 33.08 per cent. At the end of the June quarter, Advent International, through its arm Jusmiral Holdings and Berhyanda Ltd, owned a combined 66.41 per cent stake in the company. Meanwhile, HDFC Mutual Fund (MF) and SBI MF acquired a little over 64 lakh

Benchmark indices hit 10-weeks highs after US Fed's 25 bps rate cut

Sensex and Nifty rose to 10-month highs after the Fed's 25 bps cut, with IT and pharma leading gains amid optimism over India-US trade talks and stronger FPI inflows

GK Energy raises ₹139.27 crore from anchor investors ahead of IPO

Solar-powered agricultural water pump systems provider GK Energy on Thursday said it has collected over Rs 139 crore from anchor investors, a day before its initial share-sale opening for public subscription. Some of the institutions that participated in the anchor round included HSBC Mutual Fund (MF), Citigroup Global Markets Mauritius, Motilal Oswal MF, Bandhan MF, Pinebridge Global Funds, Societe Generale, according to a circular uploaded on the BSE website. The company has allotted 91.03 lakh equity shares to 13 funds at Rs 153 apiece, aggregating the transaction size to Rs 139.27 crore, it added. The Rs 465-crore IPO will be open for public subscription from September 19 to 23. The price band has been fixed at Rs 145-153 per share. The Pune-based firm's offering is a combination of fresh issue of shares worth Rs 400 crore and an offer-for-sale (OFS) of 42 lakh equity shares, worth Rs 65 crore at the upper end, by selling shareholders. Proceeds from the fresh issue to the exte

Big tech, small-cap stocks rise in wake of US Fed's rate reduction

The S&P 500 Index climbed 0.3% at 9:42 a.m. in New York, while the technology-heavy Nasdaq 100 Index rose 0.7%, led by gains across behemoths Nvidia Corp. and Tesla Inc.

Ahead of IPO, Saatvik Green Energy garners ₹269 cr from anchor investors

Solar panel maker Saatvik Green Energy on Thursday said it has mobilised over Rs 269 crore from anchor investors, a day before its initial share-sale opening for public subscription. HDFC Mutual Fund (MF), Nippon India MF, Bandhan MF and SBI General Insurance Company are among the anchor investors, according to a circular uploaded on BSE's website. The company has allotted 57.93 lakh equity shares to nine funds at Rs 465 apiece, aggregating the transaction size to Rs 269.4 crore, the circular added. The issue, with a price band of Rs 442 to Rs 465 per share, would open for public subscription on September 19 and conclude on September 23. At the upper end, the Haryana-based company is valued at around Rs 5,910 crore. The company's maiden public offering is a combination of a fresh issue of shares worth Rs 700 crore and an offer for sale (OFS) of Rs 200 crore by promoters. Proceeds from the fresh issue worth Rs 477.23 crore will be invested in Saatvik Solar Industries Private Limit

Fund review: Aditya BSL Large Cap Fund

Fund review: Aditya BSL Large Cap Fund

Groww accounted for 40% of direct plan SIP inflows in mutual fund industry

Investment platform accounts for 40% of direct-plan SIP inflows of the industry

Sebi mulls allowing FPIs in non-cash, non-agri commodity derivatives

Mulls allowing FPI participation in non-cash, non agri commodity derivatives

Footwear maker Metro Brands finds new spring in its step after GST cut

Tax tweaks and fresh launches give footwear major a leg up on rivals

Madison India Capital exits Star Health; sells 1.15% stake for ₹299 cr

Private investment firm Madison India Capital on Tuesday exited Star Health and Allied Insurance by divesting its entire 1.15 per cent stake in the company for nearly Rs 299 crore through an open market transaction. Madison India Capital through its affiliate MIO Star offloaded 67.72 lakh equity shares, representing a 1.15 per cent stake in Chennai-based health insurer Star Health and Allied Insurance, as per the bulk deal data available on the NSE. The transaction was valued at around Rs 298.67 crore, and was executed at a price of Rs 441.01 apiece. Meanwhile, PI Opportunities AIF V LLP, an affiliate of Premji Invest, bought 45.35 lakh shares or 0.77 per cent stake for Rs 200 crore. The shares were acquired at an average price of Rs 441 apiece. Details of the other buyers of Star Health and Allied Insurance's shares could not be ascertained on the exchange. Shares of Star Health and Allied Insurance rose 1.67 per cent to close at Rs 450 apiece on the National Stock Exchange (NSE

Equity tag for Reits likely to boost new launches, deepen market

New Sebi rule boosts Reits with equity status, promising deeper liquidity, index inclusion, and broader investor participation

Near-term weakness in Coal India stock seen as buying opportunity

More thermal capacity is expected to come onstream, and the country's largest coal miner will remain the biggest player by far

Investors lap up Urban Company, Dev Accelerator and Shringar IPOs

Backed by Tiger Global, the home services marketplace sees bumper demand; Dev Accelerator and Shrinagar House of Mangalsutra IPOs also heavily oversubscribed