After Trading Hour News
Shree Ashtavinayak sets IPO price band
Movie producer Shree Ashtavinayak Cine Vision Ltd said on Monday it had set the price band for its initial public offering at 140 to 160 rupees a share.
MindTree files IPO papers
MindTree Consulting, an international IT and R&D services, has filed its draft red herring prospectus (DRHP) with Securities & Exchange Board of India (Sebi). It proposes to offer 55,93,300 equity shares of Rs 10 each.
The issue comprises of a net issue of 49,40,740 equity shares of Rs 10 each to the public, up to 3,72,900 shares to be reserved for employees and up to 2,79,660 shares to be reserved for business associates.The issue is being made through the 100% book-building method, and will constitute 15% of the post-issue capital of the company.
Kotak Mahindra Capital Company and JM Morgan Stanley are the Book Running Lead Managers to the issue.
Cairn IPO subscribed 1.31 times
The IPO of Cairn India has been subscribed 1.31 times at 1700 hrs.
The IPO of 32.8799 crore shares has attracted bids for 42.9427 crore shares with the maximum bids at the upper price band of Rs 190 per share.Bids for around 7.4 lakh shares were made at the cut-off price.
ICICI Bank, Sangli Bank to amalgamate
ICICI Bank, the country`s largest private sector bank has said that Sangli Bank will be amalgamating with it.
The share exchange ratio under the above scheme of amalgamation has been fixed at 100 shares of the bank for 925 shares of Sangli Bank. The proposed amalgamation would result in issuance of about 3.45 million additional shares of the bank, equivalent to about 0.4% of its existing issued equity share capital.
The proposed amalgamation is expected to be of benefit to the shareholders of both entities. ICICI Bank will seek to leverage Sangli Bank`s network of over 190 branches and existing customer and employee base across urban and rural centres in the rollout of its rural and small enterprise banking operations, which are key focus areas for the bank.
The amalgamation would also supplement the bank`s urban distribution network.The amalgamation would enable shareholders of Sangli Bank to participate in the growth of the bank`s strong domestic and international franchise. The transaction shall benefit the employees in terms of new opportunities and its customers in terms of access to ICICI Bank`s multi-channel network.
Deloitte Haskins & Sells, chartered accountants are acting as independent valuers appointed for the above deal. The amalgamation is subject to the approval of the shareholders of the bank and Sangli Bank, Reserve Bank of India and such other approvals as may be required.
Movie producer Shree Ashtavinayak Cine Vision Ltd said on Monday it had set the price band for its initial public offering at 140 to 160 rupees a share.
MindTree files IPO papers
MindTree Consulting, an international IT and R&D services, has filed its draft red herring prospectus (DRHP) with Securities & Exchange Board of India (Sebi). It proposes to offer 55,93,300 equity shares of Rs 10 each.
The issue comprises of a net issue of 49,40,740 equity shares of Rs 10 each to the public, up to 3,72,900 shares to be reserved for employees and up to 2,79,660 shares to be reserved for business associates.The issue is being made through the 100% book-building method, and will constitute 15% of the post-issue capital of the company.
Kotak Mahindra Capital Company and JM Morgan Stanley are the Book Running Lead Managers to the issue.
Cairn IPO subscribed 1.31 times
The IPO of Cairn India has been subscribed 1.31 times at 1700 hrs.
The IPO of 32.8799 crore shares has attracted bids for 42.9427 crore shares with the maximum bids at the upper price band of Rs 190 per share.Bids for around 7.4 lakh shares were made at the cut-off price.
ICICI Bank, Sangli Bank to amalgamate
ICICI Bank, the country`s largest private sector bank has said that Sangli Bank will be amalgamating with it.
The share exchange ratio under the above scheme of amalgamation has been fixed at 100 shares of the bank for 925 shares of Sangli Bank. The proposed amalgamation would result in issuance of about 3.45 million additional shares of the bank, equivalent to about 0.4% of its existing issued equity share capital.
The proposed amalgamation is expected to be of benefit to the shareholders of both entities. ICICI Bank will seek to leverage Sangli Bank`s network of over 190 branches and existing customer and employee base across urban and rural centres in the rollout of its rural and small enterprise banking operations, which are key focus areas for the bank.
The amalgamation would also supplement the bank`s urban distribution network.The amalgamation would enable shareholders of Sangli Bank to participate in the growth of the bank`s strong domestic and international franchise. The transaction shall benefit the employees in terms of new opportunities and its customers in terms of access to ICICI Bank`s multi-channel network.
Deloitte Haskins & Sells, chartered accountants are acting as independent valuers appointed for the above deal. The amalgamation is subject to the approval of the shareholders of the bank and Sangli Bank, Reserve Bank of India and such other approvals as may be required.
posted by SY at 6:13 PM
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