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. 

Shriram Transport sells stakes in Shriram Automall for Rs. 156 cr

Shriram Transport Finance Company Limited (STFCL) has agreed to sell stakes in its subsidiary Shriram Automall India Limited (SAMIL) to MXC Solutions India, which runs an online auctions platform to buy and sell vehicles. The two companies have inked the share purchase agreement and the deal is valued at Rs. 156.00 crore, as per media report.

Meanwhile, the stock of Shriram Transport Finance was ended at the closing hours on NSE at Rs. 1,435 per share, down Rs. 33.80 or 2.30 percent while on BSE, the  stock closed at Rs 1,437.35, down 2.13%. 

The equity benchmarks managed to settle at fresh record peak. The BSE Sensex rose 22 points to end at a new high of 36,162. The Nifty50 index settled 2 points up at a fresh record of 11,086. 

Alembic Ltd approves share buy-back: Stock rise

Alembic Limited which engaged in the business of pharmaceuticals, real estate & power assets, today announced that the company has approved the proposal for buy-back of over 1.2 crore fully paid up equity shares of the Company, having face value of Rs. 2.00 each, for a total consideration not exceeding Rs. 82.00 crore, representing up to 3.84% of the total paid-up equity share capital of the company. The consideration excludes transaction costs viz fees, brokerage, securities transaction tax, GST, stamp duty and so on.

Meanwhile, the Alembic has reported a standalone net profit of Rs 56.00 million in Dec 2017 quarter. The Company had profit of Rs 7.00 million in the same quarter last year.

At 3.00 PM, Wednesday, the stocks of Alembic were trading higher by 4.51% and 4.29% respectively, on NSE and BSE.