IPO of Sintercom India open :: Free stock tips

Sintercom India Limited which is engaged in the business of manufacturing sintered metal automotive components of engines, announced date for its upcoming SME IPO in India. The issue will start from 5 Feb, 2018 and will close on 7 Feb, 2018. The total issue size is 65,46,000 equity shares.

The price band is Rs 63 to Rs 65 per equity share while offer size is Rs 42.55 crore. The face value of this public offer is 10 per share and will be listed on National Stock Exchange platform.

The minimum bid lot is 2000 equity shares and its multiples thereafter. The IPO of 65,46,000 equity shares consists of a fresh issue of 30,16,000 equity shares and an OFS upto 10,31,213 equity shares by Victora Stock Invest P. Ltd  and up to 24,98,787 equity shares by Maurill Industries Ltd.

Galaxy Surfactants raises Rs 281 cr from anchor investors

Specialty chemical manufacturer Galaxy Surfactants Limited's initial public offer (IPO) will hit capital market on Monday, 29 January 2018. Galaxy Surfactants, the leading specialty chemicals maker, on Friday announced that it has garnered over Rs 281 crore ahead of its IPO.

The IPO seeks to raise Rs 937 crore from the market. It has finalized allocation of 18,99,500 equity shares to 25 anchor investors at Rs 1,480 per share.

The offer comprises to 63,31,674 equity shares of face value of Rs 10 each for cash, Rs 10 aggregating up to Rs 937.09 Cr.

Edelweiss Financial Services, J.M Financial Institutional Securities & ICICI Securities will manage the public issue. The Company’s equity shares will be listing both on BSE and NSE. 

Markets regulator SEBI on Thursday allowed all exchanges to provide trading in stocks and commodities from October 2018. NSE and BSE Stock exchanges can now launch commodity products on their platforms.  It has also decided to put a 10% cross-shareholding cap in MFs.

The new step may have an impact on the shareholding pattern of UTI Asset Management Co (AMC), requiring its promoters to lower their stake to 10% or below in next one year.

State Bank of India, Punjab National Bank, Bank of Baroda and LIC of India are having their own mutual funds together holding 18.24% stake each in UTI Asset Management Company.

The regulator has decided that any shareholder owning at least 10% stake in an AMC will not be allowed to have 10% or more stake in another mutual fund house operating in the country.  The move enables in strengthening the governance structure for mutual funds and helps avoid any conflict of interest.

Besides, Sebi has also decided to emerge with a fresh consultation paper on Investment Advisor so as to segregate advisory and the role of a distributor.