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Cairn mops up $100mn ahead of IPO
New York-based investment firm Blackrock-Merrill Lynch and Indian electronics major Videocon Industries (VIL) are believed to have bought shares worth close to $100m in the pre-IPO placement of Cairn India, a subsidiary of the Edinburgh-based Cairn Energy. Both investors are tipped to have bagged shares worth $50m each. Cairn India is set to mop up roughly $500m from private investors ahead of its initial public offering (IPO) in December. A Cairn India official spokesperson declined to comment on the issue.
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IPOs over Rs 50 cr since '04 to come under scrutiny
In a bid to protect investors amid a rush for public offers by corporate India, the government has decided to scrutinise all the IPOs that garnered more than Rs 50 crore in the past three years to ascertain that funds were utilised for declared purposes.
As part of this drive, the Ministry of Company Affairs has directed the Registrar of Companies (RoC) to “keep under watch” the IPOs that hit the market since ’04, garnering an estimated Rs 25,000 crore.
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ICICI Venture offloads 5% in Info Edge for Rs 80 cr
ICICI Venture Funds has sold roughly 5% stake in internet major Info Edge (India) through the secondary market to Fidelity for roughly Rs 80 crore since its impressive debut on the domestic bourses on Tuesday, sources said.
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Dealers' strike puts oil stocks on slippery road
Shares of oil marketing companies underperformed the broad market on Wednesday, falling around 2-3%, before the strike by fuel dealers across Maharashtra, which began on Monday, was called off late in the evening. However, brokers tracking the stocks attributed the slide to continuing bearish outlook on the sector as a whole. The strike by the dealers has only weakened sentiment further, they said.
Analysts tracking the sector say the strike will not have much impact on the bottomlines of oil marketing companies.
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Make FIIs part of 51% public stake in bourses
The government is planning to allow 49% foreign investment in stock exchanges. Within the 49% limit, a sub limit of 26% on foreign direct investment (FDI) is proposed.
The balance 23% would be available for foreign institutional investors (FIIs). The foreign investment policy would, however, have to be reconciled with the Sebi’s recent guidelines relating to the mandatory 51% dilution of stock exchange ownership in favour of public.
To Read MoreClick Here
New York-based investment firm Blackrock-Merrill Lynch and Indian electronics major Videocon Industries (VIL) are believed to have bought shares worth close to $100m in the pre-IPO placement of Cairn India, a subsidiary of the Edinburgh-based Cairn Energy. Both investors are tipped to have bagged shares worth $50m each. Cairn India is set to mop up roughly $500m from private investors ahead of its initial public offering (IPO) in December. A Cairn India official spokesperson declined to comment on the issue.
To Read MoreClick Here
IPOs over Rs 50 cr since '04 to come under scrutiny
In a bid to protect investors amid a rush for public offers by corporate India, the government has decided to scrutinise all the IPOs that garnered more than Rs 50 crore in the past three years to ascertain that funds were utilised for declared purposes.
As part of this drive, the Ministry of Company Affairs has directed the Registrar of Companies (RoC) to “keep under watch” the IPOs that hit the market since ’04, garnering an estimated Rs 25,000 crore.
To Read ArticleClick Here
ICICI Venture offloads 5% in Info Edge for Rs 80 cr
ICICI Venture Funds has sold roughly 5% stake in internet major Info Edge (India) through the secondary market to Fidelity for roughly Rs 80 crore since its impressive debut on the domestic bourses on Tuesday, sources said.
To Read MoreClick Here
Dealers' strike puts oil stocks on slippery road
Shares of oil marketing companies underperformed the broad market on Wednesday, falling around 2-3%, before the strike by fuel dealers across Maharashtra, which began on Monday, was called off late in the evening. However, brokers tracking the stocks attributed the slide to continuing bearish outlook on the sector as a whole. The strike by the dealers has only weakened sentiment further, they said.
Analysts tracking the sector say the strike will not have much impact on the bottomlines of oil marketing companies.
For More InfoClick Here
Make FIIs part of 51% public stake in bourses
The government is planning to allow 49% foreign investment in stock exchanges. Within the 49% limit, a sub limit of 26% on foreign direct investment (FDI) is proposed.
The balance 23% would be available for foreign institutional investors (FIIs). The foreign investment policy would, however, have to be reconciled with the Sebi’s recent guidelines relating to the mandatory 51% dilution of stock exchange ownership in favour of public.
To Read MoreClick Here
posted by SY at 1:12 PM
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