After Trading Hour News
Cairn IPO to hit the markets on Dec 11
Cairn India will launch its initial public offering (IPO) on December 11 and close it on December 15, with a listing expected as soon as a week later.
``We want to list as soon as possible, and maybe after a week of the IPO closing,`` Cairn spokesman David Nishbet said.The company set a price range for the flotation of between Rs 160 and Rs 190 rupees per share, valuing the business at between Rs 282.45 billion and Rs 335.41 billion.
Cairn sold 209.67 million shares for USD 822 million in a pre-IPO placement offer last week out of which 176.53 million shares were sold to Malaysian state oil company Petronas at Rs 176.48 per share.After the private placement, Cairn its public offering from 538.5 million shares to 328.8 million shares.
TCS inks USD 65 bn deal with Somerfield
Tata Consultancy Services (TCS) has inked a seven year agreement with Somerfield, a leading UK-based small-format food retailer, to provide a full range of managed IT services.
Under this pact, the company will take over the entire IT operations, asset management and planning for Somerfield and provide a fully managed IT infrastructure and applications service within Somerfield, aimed at meeting its current and future business demands.
Moreover, as part of the agreement, the firm will manage third party hardware, software and services contracts with an estimated value of over USD 100 million over the duration of the agreement.
MFs net sellers in equities worth Rs 2688.7 mn on Nov 28
Mutual funds (MFs) remained net sellers in equities worth Rs 2688.7 million on November 28. They bought equity worth Rs 4040.4 million and sold equity worth Rs 6729.1 million. Till November 28, they have been net sellers in equities worth Rs 527.7 million.
MFs were however, net buyers in debt on November 28 to the tune of Rs 798.3 million. They bought debt worth Rs 4661.7 million and sold debt worth Rs 3863.4 million. Till November 28, they have been net buyers in debt to the tune of Rs 55933.4 million.
FIIs net sellers in equities worth Rs 3,353 mn on Nov 28
Foreign institutional investors (FIIs) turned net sellers in equities to the tune of Rs 3,353 million (USD 73.8 million) on November 28. They bought equity worth Rs 18948 million and sold equity worth Rs 22,301 million. Till November 28, they have been net buyers in equities to the tune of Rs 94,431 million (USD 2,050.8 million).
FIIs were however, net buyers in debt on November 28 worth Rs 1,673 million (USD 36.8 million). They bought debt worth Rs 1,673 million. Till November 28, they have been net buyers in debt worth Rs 7,430 million (USD 162.2 million).
Till November 28, FIIs have thus been net buyers in both equities and debt to the tune of Rs 101861 million (USD 2,213 million).In the derivative segment, the FIIs were net sellers to the tune of Rs 22,935.7 million on November 28. They bought derivatives worth Rs 54,237.5 million, while they sold derivatives worth Rs 77,173.2 million.
ICICI Bank exits from NCDEX
According to market sources, ICICI Bank offloaded its eight per cent stake in National Commodity and Derivatives Exchange (NCDEX) for an undisclosed amount.
Officials at the bank did not deny the development and said that if any such deal is struck the details will be disclosed at the end of the quarter as a matter of policy. However, a senior official did mention that the bank did intend to divest from NCDEX as it is not in that business. The investment was basically made for the development of the industry and that objective has been achieved.Officials at NCDEX were not aware of any such development.
Sobha Developers IPO oversubscribed 112.18 times
Sobha Developers` initial public offering (IPO) has received an astounding response from the investors as the issue has been oversubscribed by 112.18 times, as per the BSE website.
The IPO has received a total of 997.63 million bids as against the issue size of 8.89 million equity shares of Rs 10 each. The IPO which closed today, was made through book building route, to raise upto Rs 5.68 billion. The price band of the offer was Rs 550 to Rs 640.
The company proposes to use the proceeds of the issue to finance land acquisition and construction and development cost of some of the existing and proposed residential projects. The company also plans to use the proceeds to repay certain loans of the company.
Cairn India will launch its initial public offering (IPO) on December 11 and close it on December 15, with a listing expected as soon as a week later.
``We want to list as soon as possible, and maybe after a week of the IPO closing,`` Cairn spokesman David Nishbet said.The company set a price range for the flotation of between Rs 160 and Rs 190 rupees per share, valuing the business at between Rs 282.45 billion and Rs 335.41 billion.
Cairn sold 209.67 million shares for USD 822 million in a pre-IPO placement offer last week out of which 176.53 million shares were sold to Malaysian state oil company Petronas at Rs 176.48 per share.After the private placement, Cairn its public offering from 538.5 million shares to 328.8 million shares.
TCS inks USD 65 bn deal with Somerfield
Tata Consultancy Services (TCS) has inked a seven year agreement with Somerfield, a leading UK-based small-format food retailer, to provide a full range of managed IT services.
Under this pact, the company will take over the entire IT operations, asset management and planning for Somerfield and provide a fully managed IT infrastructure and applications service within Somerfield, aimed at meeting its current and future business demands.
Moreover, as part of the agreement, the firm will manage third party hardware, software and services contracts with an estimated value of over USD 100 million over the duration of the agreement.
MFs net sellers in equities worth Rs 2688.7 mn on Nov 28
Mutual funds (MFs) remained net sellers in equities worth Rs 2688.7 million on November 28. They bought equity worth Rs 4040.4 million and sold equity worth Rs 6729.1 million. Till November 28, they have been net sellers in equities worth Rs 527.7 million.
MFs were however, net buyers in debt on November 28 to the tune of Rs 798.3 million. They bought debt worth Rs 4661.7 million and sold debt worth Rs 3863.4 million. Till November 28, they have been net buyers in debt to the tune of Rs 55933.4 million.
FIIs net sellers in equities worth Rs 3,353 mn on Nov 28
Foreign institutional investors (FIIs) turned net sellers in equities to the tune of Rs 3,353 million (USD 73.8 million) on November 28. They bought equity worth Rs 18948 million and sold equity worth Rs 22,301 million. Till November 28, they have been net buyers in equities to the tune of Rs 94,431 million (USD 2,050.8 million).
FIIs were however, net buyers in debt on November 28 worth Rs 1,673 million (USD 36.8 million). They bought debt worth Rs 1,673 million. Till November 28, they have been net buyers in debt worth Rs 7,430 million (USD 162.2 million).
Till November 28, FIIs have thus been net buyers in both equities and debt to the tune of Rs 101861 million (USD 2,213 million).In the derivative segment, the FIIs were net sellers to the tune of Rs 22,935.7 million on November 28. They bought derivatives worth Rs 54,237.5 million, while they sold derivatives worth Rs 77,173.2 million.
ICICI Bank exits from NCDEX
According to market sources, ICICI Bank offloaded its eight per cent stake in National Commodity and Derivatives Exchange (NCDEX) for an undisclosed amount.
Officials at the bank did not deny the development and said that if any such deal is struck the details will be disclosed at the end of the quarter as a matter of policy. However, a senior official did mention that the bank did intend to divest from NCDEX as it is not in that business. The investment was basically made for the development of the industry and that objective has been achieved.Officials at NCDEX were not aware of any such development.
Sobha Developers IPO oversubscribed 112.18 times
Sobha Developers` initial public offering (IPO) has received an astounding response from the investors as the issue has been oversubscribed by 112.18 times, as per the BSE website.
The IPO has received a total of 997.63 million bids as against the issue size of 8.89 million equity shares of Rs 10 each. The IPO which closed today, was made through book building route, to raise upto Rs 5.68 billion. The price band of the offer was Rs 550 to Rs 640.
The company proposes to use the proceeds of the issue to finance land acquisition and construction and development cost of some of the existing and proposed residential projects. The company also plans to use the proceeds to repay certain loans of the company.
posted by SY at 9:46 PM
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