SBI Cards and Payment Services, the credit card unit of the country's largest lender State Bank of India (SBI), will hit the market with the initial public offering (IPO) on 2 March
SBI's credit card arm likely to launch IPO early next month; plans to raise Rs 9,000 cr via maiden issue
Last week, the SBI subsidiary received markets regulator the Securities and Exchange Board of India's (SEBI) approval to float an initial public offering.
HDFC is the second AMC to hit the market after Reliance Nippon Life AMC, which had raised Rs 1,542 crore last year.
Snapdeal which has been burning money to compete with its larger rivals Flipkart and the Amazon, is reported to have only cash left for a year at best
IPO of Varun Beverages entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by the promoters
The price band for the offer, entailing sale of 1.75 crore shares, has been fixed at Rs 705-710 per scrip
The company’s IPO comprises an offer-for-sale of up to 17,500,000 equity shares of the subsidiary by L&T Ltd
Alkem Lab generated demand worth about Rs 59,000 crore, while Dr Lal generated received bids worth Rs 21,000 crore
The main promoter, VG Siddhartha, also chairman and MD, holds 54.78 percent stake, while all promoters together have 92.74 percent holding in the company.
Jubilant shares are up 20 percent this year and trade at a forward price-to-earnings ratio of 62.5 times, nearly 4 times the average across the Nifty.