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Tata Steel rules out IPO of merged business with Thyssen for 2-3 years
Tata Steel and Thyssenkrupp have no plans to spin off their pending European steel joint venture within the next two to three years, Tata's managing director said on Monday. The two companies announced last month a preliminary agreement to merge their European steel operations, creating the continent's second-largest steelmaker after ArcelorMittal, with revenues of 15 billion euros ($18 billion).
Indian investment banks topple foreign peers in IPO showdown
Domestic investment banks (i-banks) have edged out their foreign peers in capturing a significant chunk of the booming initial public offering (IPO) market in the past two years. This year, their share in the IPO pie has risen to 73 per cent, data collated from Prime Database shows. Second, domestic banks have ramped up their operations significantly in the past few years even as several foreign investment banks, especially the European ones, have scaled down.
Godrej Agrovet shares gain 29% in stellar market debut
Shares of Godrej Agrovet ended with 29 per cent gains during their trading debut on Monday. The stock ended at Rs 592 compared to Initial Public Offer (IPO) price of Rs 460 per share on the National Stock Exchange (NSE). The stock touched a high of Rs 630 and a low of Rs 563.4 on the NSE with a total of Rs 1,441 crore worth of shares changing hands.
Reliance AMC to create Rs 165 cr war chest for acquisition
Reliance Nippon Life Asset Management Company, the country's largest AMC today said it will earmark Rs 165 crore for inorganic growth including acquisition of mutual fund companies. It provides opportunity for acquisition, Reliance Nippon Life AMC Deputy CEO Himanshu Vyapak said at a roadshow here of the company's initial public offer (IPO). Last year, Reliance Nippon Life AMC completed takeover of global giant Goldman Sachs' mutual fund business in India for Rs 243 crore in an all- cash deal.
JSW Cement plans Rs 1,800-cr capex, aims for IPO in 2019-20
Sajjan Jindal-controlled, JSW Cement Ltd today said it is investing around Rs 1,800 crore towards expansion of cement capacity to 20 million tonnes (MT) and looking at initial public offer (IPO) in 2019-20. We expect huge demand for cement in the country and plan to expand our cement manufacturing capacity from 12.5 MT to 20 MT by 2020. We will incur capex of around Rs 1,800 crore for capacity expansion over the next three years period, JSW Cement managing director Parth Jindal told PTI here.
HDFC Standard Life receives Sebi approval for IPO
HDFC Standard Life Insurance Company has received capital markets regulator Sebi's go ahead to raise an estimated Rs 7,500 crore through an initial public offering. Currently, HDFC owns 61.41 per cent stake in HDFC Standard Life and Standard Life has about 34.86 per cent, while the remaining is with employees and PremjiInvest. The listing of equity shares will enhance the ' HDFC Life' brand name and provide liquidity to the existing shareholders.
JSW Cement planning IPO, Rs1,800 crore capex in 2019-20: MD Parth Jindal
Sajjan Jindal-controlled, JSW Cement Ltd Monday said it is investing around Rs1,800 crore towards expansion of cement capacity to 20 million tonnes (MT) and looking at initial public offer (IPO) in 2019-20. We expect huge demand for cement in the country and plan to expand our cement manufacturing capacity from 12.5 MT to 20 MT by 2020. We will incur capex of around Rs1,800 crore for capacity expansion over the next three years period, JSW Cement managing director Parth Jindal said.
Reliance Nippon Life AMC's IPO proceeds to fund inorganic growth: Official
Reliance Nippon Life AMC is planning to use a portion of IPO proceeds to fund inorganic growth, a company official said on Monday. The proceeds of the proposed IPO will be used partly to fund inorganic expansion of its business, Saugata Chatterjee, head of Reliance Nippon Life AMC said on Monday.
Godrej Agrovet shares soar 35 per cent in debut trade
Shares of Godrej Agrovet made a spectacular debut at the bourses on Monday, surging 35 per cent over the issue price of Rs 460. The stock listed at Rs 621, registering a sharp gain of 35 per cent from the issue price on BSE. At NSE, shares of the company debuted at Rs 615.60, zooming 33.82 per cent. In terms of equity volume, 25.94 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
India: Mahindra Logistics may launch IPO by October-end
Mahindra Logistics Ltd has received Securities and Exchange Board of India (Sebi) approval for its initial public offering (IPO), said two people aware of the development. Mahindra Logistics had been planning to launch its IPO in October and was waiting on the approval to come by, according to the second of the two people. The Mahindra Logistics IPO will most likely open immediately after it, he said, also requesting anonymity.
Sebi approval secured, Mahindra Logistics may launch IPO by October end
Mahindra Logistics Ltd has received Securities and Exchange Board of India (Sebi) approval for its initial public offering (IPO), said two people aware of the development. Mahindra Logistics filed its draft red herring prospectus with the capital markets regulator on 4 August. Mahindra Logistics had been planning to launch its IPO in October and was waiting on the approval to come by, according to the second of the two people.

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