ICICI Securities gets SEBI's go-ahead for IPO

ICICI Bank Ltd has received approval from the Sebi to list its stock brokerage unit, ICICI Securities Ltd. ICICI Securities had filed its DRHPs with SEBI in December and received observations from the regulator on Feb 2, as per the latest update with the markets regulator.

As per the DRHP filed by the company, the IPO comprises sale of 64,428,280 equity shares, amounting to 20% stake, by ICICI Bank. The IPO includes a reservation of up to 32.21 lakh shares for individual as well as HUF shareholders of ICICI Bank. The IPO is expected to garner Rs. 3,000 to 4,000 crore.

SBI Capital Markets, DSP Merrill Lynch, Citigroup Global Markets India, IIFL Holdings, Edelweiss Financial Services and CLSA India are book running lead managers to the issue.

L&T bags orders worth Rs.3355 CR.

Larsen & Toubro Limited (L&T) on Tuesday announced that its buildings and factories buz of L&T construction has obtained orders valued Rs 3,355 crore.

The orders comprise design & construction of India Int. Convention & Expo Centre (IICC) in the national capital.

The business also bagged a contract to construct a major retail development in Navi Mumbai for IKEA. The construction for the proposed expansion will commence in early 2018, the company said.

Shares of the L&T were trading at Rs 1,265.45 apiece, down 0.09%, from the previous close on BSE.

Bharti Airtel adds over Rs 10,000 crore in market cap

Add caption

Shares of Bharti Airtel advanced more than 7% in the late afternoon trades on Thursday. Following the massive surge in the stock prices of Bharti Airtel, it topped in Sensex and Nifty constitutes, simultaneously. The stock of Bharti Airtel gained at 7.11% to Rs 518.4 on BSE whereas it spiked 7.24% to Rs 518.5 on NSE.

With a huge surge in the share prices of Bharti Airtel, the market capitalization (M-Cap) of the company got an admiration of Rs 13,771.04 crore to Rs 2,07,225.22 crore from Rs 1,93,454.18 a day earlier. Shares of Bharti Airtel settled up 6.94% at Rs 517.00 on NSE, on closing today.

Meantime, the key benchmark Sensex & Nifty opened almost unchanged in green but soon extended the gains on Thursday on the back of value buying after an eight-day negation which led the key benchmark indices to drop by 3 percent. On closing, BSE Sensex jumped 352.03 points or 1.08% at 32,949.21 45 while NSE Nifty edged up 122.60 points or 1.22% to 10,166.70.

Shalby Hospital aims to raise Rs 505 cr through IPO: It opens on 5 Dec

Shalby Multi Specialty Hospital is aiming to raise Rs 505 cr from its IPO, which opens on 5 December. It has set a price band of Rs. 245 to 248 per share for the offer, which values it at Rs. 2,172 to 2,198 cr. The IPO would close on 7 December.

Bids can be made for a least amount of 60 equity shares and multiples of 60 thereof. The IPO consists of a fresh issue of shares for upto Rs. 480.00 cr and an offer for sale of Rs 24.8 cr.

Promoter Vikram Shah Burman plans to sell one million shares, which at the upper end of the price band will fetch Rs. 24.8 cr. Edelweiss Fin Services, IDFC Bank & IIFL Holdings are managing the Shalby IPO.

This year, the fund-raising through Initial Public Offering has clocked the all-time high seen in 2010, where 64 cos raised Rs. 37,534.65 cr. Until October 2017, the Indian primary market has registered 30 IPOs with companies raising Rs. 47,099 cr, as per data from Prime Database market tracker.

Modi govt’s mega plan: Banking Stocks Rally

Banking, particularly PSU bank stocks buzzed after Modi govt’s mega plan of Rs 2.11 lakh crore to recapitalization was announced. Effectively, heavy volumes were detected in banking stocks. Notably, the trading volume was enormous in the banking stocks that Nifty Bank index with several banking stocks surpassed the turnover of the 50-share Nifty index.

The stocks the PSU bank index of NSE traded in green today with SBI and PNB jumping up to 40%.  Nearly Rs 16405 crore worth of shares exchanged hands on the Nifty Bank index. SBI spurted 24.56% to hit the 52-week high of Rs 316.95, which itself solely contributing Rs 5,700 crore to the trading turnover.

PNB was the biggest gainers among the banking stocks, which rose 40% to hit the 52-week high of Rs 193.45. Bank of Baroda rose 28%, Union Bank of India soar 29%, Canara Bank  up 34%, Bank of India jump 30%, OBC up 25%, among the rally of  many PSUs.