Shares of Eris Lifesciences will be listed on the bourses today, 29 June 2017. The issue price was fixed at a higher end of the IPO price band at Rs 603 per share. The company's initial public offering (IPO) received bids for 5.25 crore shares compared with 1.59 crore shares, data on NSE showed.
The IPO was subscribed 3.29 times. Incorporated in 2007, Gujarat-based Eris Lifesciences undertakes research and development (R&D) and manufactures and sells branded pharmaceutical products in select therapeutic areas within the chronic and acute categories of the Indian pharmaceutical market (IPM). The categories include cardiovascular, anti-diabetics, vitamins, gastroenterology and anti-infectives. The focus is on developing products in the chronic and acute categories that are linked to lifestyle-related disorders.
Axis Bank announced that it has successfully issued Rs 3500 crore Basel III compliant additional tier 1 debentures through private placement to augment the tier 1 capital base. The perpetual debentures with a 5 year call are priced at a fine coupon rate of 8.75%. The announcement was made after market hours yesterday, 28 June 2017.
The board of directors of the bank had approved the allotment of 35,000 unsecured subordinated perpetual additional tier 1 Basel III compliant non-convertible debentures of the face value of Rs 10 lakh each for cash at par aggregating to Rs 3500 crore, on a private placement basis.
Wipro announced that locals now form over 50% of its US workforce. Over the past six months, the company hired over 1,600 employees by attracting and nurturing local talent to drive innovation and help transform clients' businesses into digital enterprises. The announcement was made after market hours yesterday, 28 June 2017.
National Aluminum Company will be in focus. The Ministry of Mines in order to clear any misleading information clarified that NALCO is a prestigious Navratna Central Public Sector Enterprise and the Central Government appreciates its role in the progress of the country as well as Odisha. The central government is making all possible efforts to improve and further expand the capacity of NALCO so that it becomes a major producer of aluminum in India as well as at global level. The Ministry of Mines is facilitating NALCO for enhancing its production capacity of alumina refinery by setting up of 1 million tonnes per annum (MTPA) alumina refinery (Stream-5), Damanjodi under Phase-3 expansion of M&R unit at an estimated cost of Rs 5540 crore.
To augment the bauxite reserves of the company, the central government has recently extended the reservation of Potangi Mines in favour of NALCO for further 5 years.
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Clarification was issued yesterday, 28 June 2017 after a news item appearing in some section of the press that Government of India is trying to privatise the company through buyback and offer for sale (OFS). Due to such news items, NALCO is facing agitation by its workers.
LT Foods commenced operations of its first rice processing plant in Europe at Rotterdam, Netherlands. LT Foods has made an investment of $15 million in the plant with initial capacity of 60,000 tonnes and scope for further expansion in the future. The company plans to make its most popular 'Daawat' brand a household name in Europe using raw material from India. The move will benefit 5,000 farmer families in India with brown rice supply increasing from India.
LT Foods plant is the first rice processing plant by any Indian foods brand in Europe. LT Foods plans to expand its geographical footprint in important markets of Europe and UK through this plant by increasing its sales from the current 5,000 tonnes to 60,000 tonnes over the next 3 years. The company would be manufacturing a wide range of rice including popular varieties like Basmati, Thai, Jasmine and American rice from the new plant. Rotterdam, which is popularly known as the gateway to Europe will be a critical geographical location as it will give the company easy access to the whole of Europe and UK for its expansion plans. The announcement was made after market hours yesterday, 28 June 2017.
Rashtriya Chemicals & Fertilizers said the government, the promoter of the company announced its intention to sell up to 2.75 crore equity shares of the company of face value of Rs 10 each, representing 5% of the total paid up equity share capital of the company on 29 June 2017 (for non-retail Investors) and 30 June 2017 (for retail investors and for non-retail Investors who choose to carry forward their bids). The floor price for the offer shall be Rs 74.25 per equity share of the company.
Further upto 5% of the offer shares (over and above the number of offer shares) could be offered to eligible and willing employees of the company at a discount of upto 5% of the cut-off price subsequent to completion of the offer. The announcement was made after market hours yesterday, 28 June 2017.
SEAMEC announced after market hours yesterday, 28 June 2017, that the charter for its vessel "SEAMEC III" with L&T Hydrocarbon Engineering ended yesterday, 28 June 2017.
Gujarat Pipavav Port announced after market hours yesterday, 28 June 2017, that A.P.Moller-Maersk was hit by a global cyber attack affecting multiple sites and business units including Gujarat Pipavav Port. This attack has not had any major impact on the company at this point in time. The company is responding to the situation to limit the impact and uphold the port operations. The company said it continues to assess the situation that may impact its customers and partners.
Godrej Industries announced after market hours yesterday, 28 June 2017, that its board on 28 June 2017, has decided to participate in the initial public offer (IPO) of equity shares by Godrej Agrovet. Godrej Industries proposes to sell equity shares worth up to Rs 400 crore through the IPO of Godrej Agrovet. The board of Godrej Industries has authorized the management committee of its board, to consider and finalise the terms and conditions with respect to participation in offer and for matters incidental thereto.
Mindtree's board approved buyback of equity shares of the company not exceeding 43.2 lakh equity shares, being 2.57% of the total paid up equity share capital at a price not exceeding Rs 625 per equity share for an aggregate amount of Rs 270 crore. The announcement was made after market hours yesterday, 28 June 2017.
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