Tata Communications OFS closes; govt to mop up nearly Rs 5,440 crore

MUMBAI: The government is expected to garner Rs 5,440 crore from the offer for sale (OFS) of the which ended on Wednesday. The OFS was subscribed 1.33 times despite poor response from the retail investors. The offer received overall bids for 6.12 crore shares as against 4.6 crore shares on offer. Though the floor price […]

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Craftsman IPO a better fit for investors with high risk appetite

Craftsman is highly exposed to truck makers, tractors and construction equipment companies. Synopsis In the medium term, the earnings growth is likely to be supported by the timing of the IPO, which coincides with the beginning of an upcycle in CVs and easing of capital intensity. ET Intelligence Group: Craftsman Automation, a supplier of precision […]

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Ex-Blackstone MD who made 1,400% on MTAR IPO says no plan to sell remaining shares

NEW DELHI: The MTAR IPO, which received a solid 200 times subscription in its just concluded IPO, is set to deliver a whopping 1,400 per cent, or 15 times, gains to former Blackstone Senior MD, Mathew Cyriac, who through his entities Fabmohur Advisors and Solidus Advisors had bought one-third of the company in 2017. If […]

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MTAR Tech raises Rs 179 crore from 15 anchor investors

MUMBAI: Hyderabad based precision engineering solutions company MTAR Technologies has raised Rs. 180 crores from 15 anchor investors ahead of its initial public offer (OFS) which will open for subscription on Wednesday. The company has allocated 31.11 lakh shares at Rs. 575 per share on March 2, to the anchor investors. The anchor book, according […]

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Bumper listing? Heranba Industries’ grey market premium doubles in a week

NEW DELHI: As the secondary market rebounded after last week’s drubbing, demand for about-to-be-listed shares also grew in the grey market. This has lifted the premium of Heranba Industries to more than double of last week’s level. Traders dealing in the unlisted shares said the grey market premium (GMP) of the agrochemical company stood at […]

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