Offer size could vary from Rs 1,200 cr to Rs 2,000 cr Asia’s oldest bourse BSE will file the draft prospectus for its initial public offering (IPO) this week, according to two people familiar with the matter. The bourse will, then, begin roadshows to market the issue to institutional investors. The issue size is expected to be close to Rs 1,200 crore (Rs 12 billion), based on the percentage of shares tendered during the offer for sale (OFS) and assuming a share price of Rs 400 apiece. Rediff.com, 1 month ago
After remaining volatile for much of the day, stocks staged a mild recovery on Friday as the Sensex mopped up modest gains amid creation of fresh bets with the beginning of the October series of derivative contracts. For the week though, the market registered a fall. The NSE Nifty in the process reclaimed the 8,600-level to close at 8,611.15. The strong showing in the October series added to the investors’ confidence level to an extent. Recovery in realty, oil and gas, infrastructure, ...Rediff.com, 3 weeks ago
But membership in Big Four is not of huge interest for Wawrinka IMAGE: Stanislas Wawrinka, right, of Switzerland embraces Novak Djokovic of Serbia after defeating him. Photograph: Mike Hewitt/Getty Images. Following Stanislas Wawrinka's win at the US Open on Sunday, it may finally be time to officially expand the 'Big Four' in men's tennis to the 'Big Five'. Since 2005, when Rafael Nadal won his first French Open crown, the Spaniard, Novak Djokovic, Roger Federer and Andy Murray have formed ...Rediff.com, 1 month ago
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap Concerns of slowdown in the Indian information technology sector came to the fore on Thursday when Tata Consultancy Services (TCS) said it was expecting a “sequential loss of momentum” as clients, especially in the banking, financial services and insurance (BFSI) segment, are putting discretionary spends on hold. TCS, in a filing to the BSE, said: “Based on the data at the end of August 2016, the company ...Rediff.com, 1 month ago
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300 ICICI Prudential Life Insurance Company has got approval of the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO), the first by a life insurance company. The country’s leading private life insurer is looking to hit the markets before the end of this month, according to people close to the development. ICICI Bank will offload a 12.65 per cent stake ...Rediff.com, 1 month ago
N Sundaresha Subramanian reports on the global stars who are betting big on small banks. They are small town boys who went on to make it big in global financial powerhouses. Now, they are back. Over the past several months, these blue-blooded bankers, all in their 50s, have either picked stakes in local non-banking financial companies or initiated process of setting up one from scratch. Reserve Bank of India’s on-tap licensing policy, announced on Monday, seems to have opened ...Rediff.com, 2 months ago
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