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, 2 months ago
The best possible move would be for the government to spend the funds on activities like infrastructure development or as it deems fit, says Soumya Kanti Ghosh. Around Rs 2,482-Rs 4,800 billion of money will not be converted and remain outside the banking system. To that extent, currency liability of the Reserve Bank of India (RBI) will get extinguished. While there is almost a complete unanimity of the accounting treatment in the sense that corresponding assets will also have to be ...Rediff.com, 3 days ago
The positive bias was aided by metal, realty and auto indices Benchmark indices today settled on a positive note after Sensex rallied almost 200 points and Nifty reclaimed 8000 levels at close. Investor sentiment turned positive as Asian shares rallied on Wall Street hitting record highs and oil surged to 3-week high. The indices bounced back from 6-month lows with Sensex snapping it’s six-session long losing streak to reclaim its 26,000 levels during early morning trade, rising as much ...Rediff.com, 1 week 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, 2 months 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, 2 months 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, 2 months 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, 2 months ago
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