Page 101 - Stock Market

Restaurant Brands Asia rallies 13%, hits 52-week high on large block deal

Around 125.44 million equity shares representing 25.36 per cent holding worth of Rs 1,494 crore of Restaurant Brands Asia changed hands on the NSE, exchange data shows

Sai Silks sets Rs 210-222 per share price band for Rs 1,201 crore IPO

Ethnic apparel retailer Sai Silks (Kalamandir) on Thursday fixed a price band of Rs 210-222 per share for its Rs 1,201 crore-initial share sale, which opens on September 20. At the upper end of the price band, the Initial Public Offering (IPO) will fetch about Rs 1,201 crore. The Hyderabad-based company was founded by Prasad Chalavadi, a techie turned entrepreneur in 2005. The offer consists of Rs 600 crore of fresh issue and an equal amount of Offer For Sale (OFS) through which the promoter family will divest 30 per cent of their 95.5 per cent shareholding, Chalavadi told PTI. The remaining 4.5 per cent of the bootstrapped ethnic retailer of premium and mid-income women's wear primarily sarees, are with the employees, he added. At Rs 210 a share price band, the floor price 105 times and the cap price is 111 times the face value of the shares. The OFS comprises promoters and some of the employers selling up to 2.70 crore equity shares. The selling promoters are Nagakanaka Durga

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Realty firm Signature Global sets IPO price band at Rs 366-385 per share

Realty firm Signature Global has fixed a price band of Rs 366-385 per share for its maiden public issue and aims to raise Rs 330 crore from anchor investors. Signature Global, which is based out of Delhi-National Capital Region, will hit the capital markets on September 20 with its IPO to raise Rs 730 crore. The offer will close on September 22. In July last year, Signature Global filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi to launch its IPO. According to the Red Herring Prospectus (RHP) filed earlier this week, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares of up to Rs 603 crore and Offer For Sale (OFS) of up to Rs 127 crore. "Our net debt stood at around Rs 1,100 crore at the end of the last fiscal year. We propose to utilise Rs 432 crore for debt reduction," Signature Global Chairman Pradeep Aggarwal told reporters here. The balance fund will be used for inorganic growth through land acquisitions and gener

With 71% jump in 4 days, this PSU stock is at its highest level since 1994

Shares of ITI Limited rallied 7% to Rs 212.45, its highest level since February 1994, on the back of heavy volumes

JSW Infra's IPO to open on Sept 25, comprises fresh issue of Rs 2,800 cr

JSW Infrastructure's issue will conclude on September 27, while the bidding for the anchor investors will open on September 22, according to the Red Herring Prospectus

JSW Infra's IPO to open on Sept 25, comprises fresh issue of Rs 2,800 cr

JSW Infrastructure's issue will conclude on September 27, while the bidding for the anchor investors will open on September 22, according to the Red Herring Prospectus

Sensex up for a ninth day, Nifty closes 20,000 for the first time

Market analysts remain cautious as US inflation data surpasses expectations, raising concerns about the Fed's future actions

Coffee Day up 20%, hits upper circuit limit after settlement with creditor

Shares of Coffee Day Enterprises Ltd jumped 20 per cent on Wednesday after Coffee Day Global Ltd (CDGL) and its financial creditor IndusInd Bank reached a settlement, following which NCLAT has set aside an insolvency order against the company which owns and operates coffee chain Cafe Coffee Day. The stock rallied 19.77 per cent to settle at Rs 51.26 apiece on the BSE. During the day, it jumped 20 per cent to Rs 51.36 -- its upper circuit limit. On the NSE, it zoomed 20 per cent to Rs 51.30 per piece -- its upper circuit. In volume terms, 31.18 lakh shares of the company were traded on the BSE and over 2 crore shares on the NSE during the day. Counsel representing CDGL and IndusInd bank on Wednesday informed the Chennai bench of National Company Law Appellate Tribunal (NCLAT) about the settlement and sought permission to withdraw insolvency litigations. A two-member bench comprising Justice M Venugopal and Shreesha Merla took their submissions on record and set aside the order ...

Cipla on the block: Who's a better fit and what it means for shareholders?

As per IIFL Securities, Cipla with a dominating market share of 7% and 23% in acute therapies like respiratory and anti-infectives, respectively, would strengthen Torrent's position in these

Ethnic apparel retailer Sai Silks' IPO to debut on Sept 20 with 27 mn OFS

Ethnic apparel retailer Sai Silks (Kalamandir) Ltd on Wednesday said its initial share sale will open for public subscription on September 20. The bidding for the anchor investors will open on September 18. The IPO of Sai Silks (Kalamandir) Ltd (SSKL) comprises fresh issue of equity shares aggregating up to Rs 600 crore and an Offer for Sale (OFS) component of up to 2.70 crore equity shares by promoters' selling shareholders, according to the Red Herring Prospectus (RHP). The Hyderabad-based saree retailer is yet to announce the price band for the IPO, which will conclude on September 22. However, Sai Silks has revised its OFS size from 1.80 crore equity shares to 2.70 crore equity shares by promoters and promoter group entities. Proceeds from the fresh issue worth up to Rs 125 crore will be used for funding capital expenditure towards setting up 30 new stores and up to Rs 25 crore for setting up two warehouses. Also, it plans to infuse up to Rs 280 crore for funding the working

Signature Global to hit capital markets with Rs 730 crore IPO on Sep 20

Realty firm Signature Global (India) Ltd will hit the capital markets on September 20 with its Initial Public Offering (IPO) to raise Rs 730 crore. In July last year, the Delhi-based firm had filed the Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi. According to the Red Herring Prospectus (RHP), which was filed on Tuesday, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares up to Rs 603 crore and offer for sale of up to Rs 127 crore. The company said it plans to utilise Rs 264 crore for repayment or prepayment of certain borrowings, in full or in part. It plans to infuse Rs 168 crore into subsidiaries for repayment or prepayment, in full or in part, certain borrowings availed of by them. The remaining fund will be used for inorganic growth through land acquisitions and general corporate purposes. Signature Global started operations in 2014 through its subsidiary Signature Builders Pvt Ltd with the launch of 'Solera' project o

PFC gets shareholders' nod to issue bonus shares in proportion of 1:4

State-owned Power Finance Corporation (PFC) has received shareholders' approval to issue bonus shares by capitalising up to Rs 660.02 crore in its securities premium account. "All business items proposed for the 37th AGM of the company have been approved with requisite majority," a BSE filing said. The PFC had proposed to issue bonus shares by capitalising securities premium account to the extent that each shareholder is entitled to a new equity share of Rs 10 each for every four equity shares of Rs 10 each. The proposal was listed for the annual general meeting (AGM) held on September 12. The PFC's board, at its meeting on August 11, recommended issuing bonus shares to shareholders in the proportion of 1:4 by capitalising Rs 6,60,02,03,520 in the securities premium account. The company also got shareholders' approval to appoint Parminder Chopra as its Chairman and Managing Director (CMD). Pursuant to the Ministry of Power order on August 14, 2023, the board of directors, on the

Sensex rises 246 pts, Nifty holds 20,050 in broad rally; PSB index zooms 4%

Closing Bell on September 13, 2023:The gains were led by Bharti Airtel (up 2.7 per cent), Titan, Axis Bank, SBI, IndusInd Bank, Power Grid, NTPC, Tata Motors, Ultratech Cement, and Bajaj Finance

Best of BS Opinion: Big risks in small stocks, direct taxes & more

Here is the best of Business Standard's opinion pieces for today

Volume, margin movement to be key drivers for Concor stock going ahead

Despite the weak Q1 show, the company is confident of meeting its EXIM growth target of 10-12% in FY24 given signs of recovery, and expects to maintain margins at the FY23 level (22.7%)

Mid, SmallCap indices sink up to 4% ahead of CPI inflation; benchmarks flat

Closing Bell on September 12, 2023: Among sectors, the Nifty Media index declined nearly 4 per cent, the Nifty Metal index nearly 3 per cent, and the Nifty PSU Bank and Auto indices up to 2.5 per cent

JSW Energy scales fresh high on report PE investors eyeing stake in unit

Private equity firms TPG, Tokyo Electric Power Company (Tepco) and Brookfield are looking to buy a minority stake in JSW Energy subsidiary, JSW Neo Energy, as per The Economic Times

This state-owned power generation stock has zoomed 100% in 3 months

Shares of SJVN hit a new high of Rs 73 on rallying 14% today after the company signed a power purchase agreement with Bhakra Beas Management Board for developing a solar project

Landmark Cars jumps 19%; hits record high on adding M&M to its dealership

In an exchange filing, Landmark Cars said the company has signed a Letter of Intent with Mahindra and Mahindra for opening a dealership in Howrah, West Bengal