Recommendation: Reduce; Target Price: Rs 170
The filing also said that preference shareholders will be entitled to a participatory dividend.
The IPO, valued at Rs 834 crore, comprises only an offer-for-sale of 2.95 crore equity shares by the Rathee family
The Uttarakhand Power Corporation Limited (UPCL) plans to acquire this power at a tariff of Rs 2.57 per unit from SJVN's 1,000 MW Bikaner Solar Project.
At the same time in the previous fiscal year, Apollo Tyres reported a consolidated net profit of Rs 179.39 crore in a regulatory filing.
Comparing the net profit sequentially, it increased by 5% from Rs 3,597.1 crore reported in the current fiscal year's first quarter.
The regulator also authorised Bharti Enterprises Ltd (BEL) to pick up a 48.54% ownership in Bharti Management Services Ltd (BMSL).
The entire proceeds from the IPO, excluding IPO expenses, will go to selling shareholders
According to a press statement from Shree Cement, the company's operating revenue of Rs 4,585 crore represented a 21% increase from Rs 3,781 crore in the previous year.

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