At the end of the four-day bidding cycle, the fifth-biggest IPO SBI Cards to reach the Indian market pocketed more than Rs 2 lakh crore as analysts went all out to encourage investors to subscribe. As the fear of a recession is rising high, investors are troubled whether to remain invested in the country's second-largest credit card issuer or Clean their hands-off the skrip. Last week, when the markets reported their worst fall in a single day, SBI Cards shares were allocated to investors.
A waste management company, Antony Waste Handling Cell has planned to raise Rs.35 crore from the fresh issue of equity shares. And raise up to Rs.171 crore through sale of existing shares. To encourage environmental, social, and governance investment (ESG), the company may appeal to institutional investors with a mandate. But retail investors need to wait for a while. Once the issue is listed, they can know whether it will be able to sustain rapid financial growth. It will be seen in the first half of the current fiscal year.
SBI Cards and Payment Services (SBI) mega IPO got the 3rd day of the bidding process. In spite of a weak environment in the secondary market after the coronavirus hits China, the issue has been subscribed to 1.69 times so far. It received bids for 16,98,97,392 shares with the issue size of 10,02,79,411 shares. It will close today. The issue's price band was fixed at Rs 750-755. The minimum amount a small investor can invest by subscribing to a lot of 19 shares is Rs 14,345.
The solid waste management company Antony Waste Handling Cell will open the Initial public offering (IPO) for subscription on March 4. It will close on March 6. The company plans to raise funds up to Rs 206 crore initially from the primary market. Rs 295-Rs 300 per equity share has been set as a price band by the company. There is up to Rs 35 crore worth of equity shares included in the fresh issues. And it offers for sale of up to 5,700,000 shares.
SBI Cards & Payment Services' IPO owned by State bank of India is opening for subscription from today. It will close on 5th March. The company has decided its lot size 19 shares. It means you will have to shell out at least Rs 14,250 to bid for the issue. The company set six different categories of investors for Separate share quotas. Those are anchor, qualified institutional buyers, non-institutional investors, retail, SBI shareholders and employees.
Through non-convertible debentures issuance, Tata Motors has given its approval for raising Rs500 crore on Wednesday. The Committee has approved allotment of 5000 rated of face value Rs 10 lakh each. It noted that the fundraising will be Rs 250 crore each, on a private placement basis. Tata Motors shares were trading at Rs 144.45 on BSE, down 3.60% from its previous close. The NCDs are proposed to be listed on the Wholesale Debt Market (WDM) segment of BSE and NSE of India.
A leading specialty chemical maker company, Rossari Biotech has received approval from the Sebi for its new initial public offering (IPO). The company in December had filed DRHP with the market regulator. The IPO comprises a fresh issue of Rs 150 crore. It offers for sale 1,05,00,000 equity shares of a face value Rs 2 each. There are two leading managers for the share sale- ICICI Securities and Axis Capital.