IPO Lane-7 Cos to tap Market to raise Rs14000 Cr

The Initial Public Offering (IPO) of about seven companies including HDFC Mutual Fund and Lodha Developers are expected to hit the capital market in the upcoming week to raise more than Rs 14,000 crore.

TCNS Clothing Co. Limited, which designs, manufactures, markets, and retail women’s branded apparel, will also launch its Rs 1,125-crore initial share-sale this week.

Flemingo Travel Retail, Nekkanti Sea Foods, Patel Infrastructure and Genius Consultants are also expected to launch their respective initial public offering in the coming week.

These 7 companies are aiming to raise more than Rs 14,000 crore. These companies have already secured Sebi’s approval to float the public offer and now they are expected to launch their initial public offers next month.

Further 18 companies have raised Rs 23,670 crore through their respective IPOs in January-June this year.

Real estate major Lodha Developers Limited plans to hit the capital market this month with its IPO to raise about Rs 5,500 crore, as per market info. The Company had on July 6 received markets regulatory approval for the IPO.

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Reliance Shares hit a 52-week high, MCap Crosses USD100 bn

Oil-to-telecom conglomerate, Reliance Industries Limited (RIL) on Thursday reclaimed the USD100-billion Market capitalization (MCap), and its shares hit a 52-week high of Rs 1,091 on its business expansion plan announced at the Annual General Meeting last week ahead of June quarter earnings.

Reliance shares surged for the fifth consecutive session today. The company shares opened at Rs 1,043.15, and touched its 52-week high of Rs 1,091, up 5.27% against its previous closing price on BSE. Following the rise in stock, RIL’s market capitalization (m-cap) touched Rs 688,513.11 crore or Rs. USD 100 billion, aprox.  Similar stock rising action was seen on the NSE also, where the stock opened at Rs 1,044.35, then rose 5.02%to touch a 52-week high of Rs 1,091.

Reliance Industries Chairman, Mukesh Ambani, last week announced plans to launch ultra high speed fixed line broadband services.

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PNB sells stakes worth Rs109 crore in ICRA

India’s second largest PSU bank Punjab National Bank (PNB) has on Thursday sold 3,30,000  shares in the ICRA (Information and Credit Rating Agency of India) for about Rs 108.6 crore, through open market transactions.

The share-holding pattern of ICRA, as on March end, showed that PNB was holding almost 3,40,000 shares, which represents almost 3.43% stake.

Moreover, there is a market focus that PNB may sell its stake in PNB Housing Finance Limited also. As of March end, the bank PNB owns almost 32.96% stake in its subsidiary PNB Housing Finance Limited.

Further, PNB is planning to sell its non-core asset to raise additional capital. The bank’s board has also approved stake sales in the Global Credit Rating Information Services CRISIL and BSE.

On Friday, post lunch hours of trade, shares of Punjab National Bank was trading higher by 3.96 percnet at Rs. 76.15 on BSE. The stock opened at Rs. 73.95 and hit a high and low of Rs. 76.35 and Rs. 73.75 respectively, during the day.

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