PUBLIC EQUITY

Ghosts of past tech IPOs could haunt Snap's performance

February 25, 2017 | Reuters

Snap Inc appears set to make a splash next week with the biggest tech stock debut since Facebook Inc, but history suggests investors shut out of the initial public offering would be better off waiting a bit to chase this unicorn on the open market.

Retail chain D-Mart to launch $280 mn IPO on 8 March

February 24, 2017 | Ankit Doshi

Avenue Supermarts Ltd (ASL), which runs hypermarkets under the D-Mart brand, will launch its initial public offering (IPO) on 8 March. The three-day offering will close on 11 March, the company said in a stock exchange filing.

Blackstone-backed Jagran Prakashan’s radio arm to launch $75 mn IPO

February 24, 2017 | Ankit Doshi

Media house Jagran Prakashan Ltd said, on Friday, its FM radio unit Music Broadcast Ltd (MBL) will launch an initial public offering (IPO) on 6 March. The three-day offering will close on 8 March, the company said in a stock exchange filing.

Govt mops up $246 mn from Bharat Electronics stake sale

February 23, 2017 | Ankit Doshi

The government has raised Rs 1,650 crore ($246 million) by selling a 5% stake in Bharat Electronics Ltd (BEL), inching closer to its disinvestment target for the fiscal year that ends next month.

Govt eyes $246 mn from stake sale in Bharat Electronics

February 21, 2017 | Ankit Doshi

The government will sell a 5% stake in state-run aerospace and defence company Bharat Electronics Ltd to raise about Rs 1,650 crore ($246 million) as part of the disinvestment plan for the current financial year.

Goldman Sachs selling up to $82 mn worth of shares in Max Financial

February 21, 2017 | Reuters

A unit of Goldman Sachs has launched a block deal to sell up to $82.1 million worth of shares in Max Financial Services Ltd with an upsize option of $41.1 million, a deal term sheet showed on Monday.

TCS to buy back shares worth up to $2.4 bn

February 20, 2017 | Reuters

India's top software services exporter Tata Consultancy Services(TCS) will buy back shares worth up to 160 billion rupees ($2.4 billion), it said on Monday, potentially increasing pressure on rival Infosys to follow suit.

Messaging app Snap eyes softer valuation in biggest tech IPO since Alibaba

February 17, 2017 | Reuters

Snap Inc, owner of the popular messaging app Snapchat, set a lower-than-expected valuation range on Thursday, amid mounting investor concern over its unproven business model, slowing growth and tight founder control.

Jhunjhunwala offloads entire stake in fin-tech firm Intellect Design Arena

February 16, 2017 | Ankit Doshi

Billionaire investor Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have fully exited their holding in Intellect Design Arena Ltd, a Chennai-based fin-tech company catering to banking, insurance and other financial services verticals.

TCS to consider share buyback on 20 February

February 16, 2017 | Ankit Doshi

Tata Consultancy Services Ltd (TCS), India’s largest software services company by revenues, will consider a share buyback plan besides outlining its dividend policy to reward shareholders with the help of the excess cash the firm holds on its books.

CDSL, Jagran Prakashan’s radio arm get SEBI nod for IPO

February 13, 2017 | Ankit Doshi

Central Depository Services Ltd (CDSL) and Music Broadcast Ltd, the FM radio unit of media house Jagran Prakashan Ltd, have received clearance from the Securities and Exchange Board of India for an initial public offering.

Eris Lifesciences files DRHP for IPO; ChrysCap to exit

February 10, 2017 | Ranjani Raghavan

Ahmedabad-based pharmaceutical firm Eris Lifesciences Pvt. Ltd filed a draft red herring prospectus with the capital markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Wednesday.

Tejas Networks files for IPO; Frontline PE, Intel Capital to sell stake

February 10, 2017 | Ankit Doshi

Bangalore-based telecom equipment company Tejas Networks Ltd on Friday filed draft papers with the capital markets regulator Securities and Exchange Board of India for an initial public offering.

Govt may allow EPFO to invest more in stocks

February 09, 2017 | Reuters

India is considering allowing the state-run social security and pension fund to invest more in the stock market, Labour Minister Bandaru Dattatreya said on Thursday.

Speciality hospital chain Shalby set to file for IPO

February 09, 2017 | Ankit Doshi

Multi-speciality hospital network Shalby Ltd is in an advanced stage of filing documents with the Securities and Exchange Board of India for its planned initial public offering, two people directly familiar with the development told VCCircle.

Govt raises just under $1 bn via ITC stake sale

February 07, 2017 | Ankit Doshi

The government on Tuesday sold a 2% stake in cigarette maker ITC Ltd for Rs 6,690 crore ($993 million) as part of its disinvestment plan for the current financial year.

Sequoia-backed Genesis Colors gets SEBI nod for IPO

February 06, 2017 | Ankit Doshi

Genesis Colors Ltd has received clearance from capital markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering, the third firm to get regulatory nod to float an IPO in 2017.

Warburg Pincus-backed Au Financiers files draft papers for IPO

February 03, 2017 | Ankit Doshi

Private equity firm Warburg Pincus-backed Au Financiers (India) Ltd on Thursday filed a Draft Red Herring Prospectus (DRHP) with the capital market regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

BSE shares gain 33% in blockbuster debut

February 03, 2017 | Ankit Doshi

BSE Ltd, Asia’s oldest stock exchange, made a spectacular debut on the stock markets on Friday with its shares closing 33% higher than the issue price.

Govt may hire advisers for IPOs of state-run insurers within months

February 02, 2017 | Reuters

India is likely to within months name advisers for its planned listing of five state-run general insurers to raise as much as $1.6 billion this year, bankers said.

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