KPIT Technologies gains 7 pct post merger with Birlasoft:: Share trading tips

Shares of KPIT Technologies gained around 7 percent after the company announced a merger with Noida based Birlasoft India Limited.

The BoD of KPIT Technologies Ltd  at its meeting held on  Monday 29 January, 2018 have, approved the Draft Scheme amalgamation Birlasoft with the Company and demerger of the engineering business of the Company into KPIT Engineering Limited to be renamed as KPIT Technologies Limited.

As per Axis Capital, the deal values Birlasoft merger as neutral for the company and the deal values Birlasoft at par with KPIT Technologies in spite of strong growth.

Shares of KPIT Technologies Limited was last trading, post lunch hours, Tuesday, in BSE at Rs.219.35 up Rs 10.10, or 4.83 with reference to the previous close of Rs. 211.35.  Shares of KPIT Technologies touched a 52-week high of Rs. 223.30.

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.