The IPO consists entirely of an Offer For Sale and there is no Fresh Issue of shares.
Top gainers in Sensex include Sun Pharma, Bajaj Finance, M&M, Tata Motors.
NIFTY corrects for the second consecutive week. FMCG stocks buck the trend
Together, the two back-to-back deals push RailTel’s new order haul for July past ₹281 crore, underscoring the PSU’s growing heft in railway-focused ICT and safety solutions.
Information ratio tells you if the fund manager is justifying the risk that investors are taking
The offer will comprise a pure offer-for-sale (OFS), with no fresh issue of shares.
The company said that its revenue from operations registered a growth of 22% to ₹957 Crore. In the year-ago period, revenue stood at ₹783 Crore.
As part of the approved plan, the consortium will make a total payment of ₹919 crore, along with any applicable statutory dues.
The week also saw India’s forex reserves moderating to less than USD 700bn
The company added that the securities will be backed through hypothecation and mortgage, creating a subservient charge on assets.
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