Tata Commn betting big on Internet of Things, to spend USD 100 mln in 2-3 yrs

Tata Communications Ltd is set to invest about USD 100 mln in the Internet of Things (IoT), a digital space the company is betting big on in coming years. The company has already rolled out its dedicated Internet-of-Things network in 38 cities across the country, together with a platform to manage the services that supports very low power consumption, said the Sr. V.P & Head, Tata Communications, Mr. VS Shridhar.

The company will also expand its LoRa network in India by 2018, Shridhar said. LoRa network is a low power wide area network, a powerful tool for mapping smart city applications and urban planning at a low bit rate.

Tata Communications focus on the enterprise biz, mostly in the B2B domain, and will be leveraging on first-mover advantage in building high networks and synchronizing with robust platforms with global leaders, it added.

Stocks of Tata Communications Limited were up 1.22% to Rs 689.00 on closing hours on NSE on Friday.

Reliance Nippon AMC to be listed on NSE on Nov 6

The shares of Reliance Nippon AMC will be listed on the National Stock Exchange (NSE) on Monday, Nov 6. The listing ceremony at NSE will be attended by the Reliance group chairman Anil Ambani; Anmol Ambani, ED, Reliance Capital; among other company dignitaries of the company.

The initial offer sale aimed at raising an estimated Rs. 1,542.24 crore, received bids for 3,493 mln shares against the total issue size of 4,28,40,000.

The IPO had opened for subscription from Oct 25- 27, 2017 in a price band of Rs. 247- 252, which was oversubscribed by 81.54 times at the close of the bidding.

The Rs 1,540 crore IPO saw healthy demand in all three investor categories.  The institutional portion was oversubscribed 118 times; HNI segment was oversubscribed by 209.44 times and retail investor portion by five times.

Khadim India Public Offer sees 7% subscription on first day

Khadim India Limited is Kolkata based largest footwear company in India. It has a strong presence in eastern India and has placed itself as an affordable brand. The company has 853 branded exclusive retail units in 23 states and one Union territory.

Khadim’s Initial Public Offering (IPO) has been subscribed 7% on the first day of share sale on Thursday. The Offer will close on Nov 6.

After lunch hours of trading time, the IPO received bids for 3,42,780 shares against the total issue size of 50,73,006 shares, as per NSE data. With a price band of Rs. 745 to 750 per share, Khadim India is aiming to garner Rs. 543 crore through the share sale.