Page 39 - Markets News

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

Nifty posts longest winning streak in a year on Fed cut, trade deal hopes

Markets gain on Fed rate cut hopes, US trade deal optimism, and GST-driven sentiment boost

Trading activity in SME stocks lags even as market sees new listings

Trading activity can be gauged by the average of the number of trades executed, the companies whose shares change hands, number of shares changing hands, and the value of these transactions

Wall Street hits record highs as rate cut bets intact after inflation data

U.S. consumer prices rose more than expected in August and the annual increase in inflation was the largest in seven months

JioBlackRock set to launch first active equity fund on September 23

JioBlackRock Mutual Fund on Thursday said it will launch its first active equity product, JioBlackRock FlexiCap Fund, on the Systematic Active Equity platform on September 23, but refrained from setting any collection target for the new fund during the initial offer period. This is our first active equity fund. Three or four other active equity funds are in the pipeline, which may see the light of day this fiscal. Other products, including ETFs, will follow in due course, JioBlackRock chief investment officer Rishi Kohli said. The fund, built on BlackRock's globally proven SAE platform, follows a rules-based and predominantly machine-driven process tracking 400 signals. About 95 per cent of the investment process will be technology-driven, aiming to eliminate key-person risk, reduce cognitive biases, and ensure disciplined fund management. The SAE Flexi-Cap Fund will maintain a controlled active risk of no more than 3-4 per cent, lower than industry averages, with a focus on downsid

NFO slump sends equity flows down 22% in Aug, SIP accounts shrink

SIP inflows fall for first time in four months as accounts dip

Ahead of IPO, Urban Company mobilises ₹854 cr from anchor investors

As per the circular, the company has allocated 8.29 crore equity shares at Rs 103 per apiece to anchor investors comprising 59 funds. This takes the fundraising to Rs 854 crore

Sebi notifies easier delisting rules for PSUs with 90% govt holding

Markets regulator Sebi has introduced special measures for voluntary delisting of PSUs, where the government owns 90 per cent or more stake, in a move aimed at streamlining the exit process. Such measures include relaxations from the requirement of a two-thirds threshold for approving delisting by public shareholders and in the mode of computation of the floor price. Also, such delisting can happen at a fixed price at least 15 per cent premium over the floor price-- regardless of trading frequency. In its notification dated September 1, Sebi said the rule is applicable for PSUs-- excluding banks, Non-banking Financial Companies (NBFCs) and insurance companies-- where the state owns 90 per cent or more stake. The floor price for delisting will be calculated using the highest of three options-- volume weighted average price paid during the 52 weeks immediately preceding the reference date; highest price paid during the 26 weeks immediately preceding the reference date; and the pri

MFI credit cost to moderate to 4-4.5% in FY26, 3-3.5% in FY27: ICRA

ICRA expects MFI credit cost to fall after surging in FY25, easing to 4-4.5% in FY26 and 3-3.5% in FY27, with AUM growth seen resuming at 8-12% as RBI relaxes norms

Camso acquisition at $225 mn valuation a long-term positive for Ceat

CEAT has acquired the Camso brand from Michelin for $225 million, strengthening its OHT portfolio, boosting capacity and expanding global presence in key markets