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Stocks in News: IPO Debuts, Deals and Corporate Actions
Several Indian companies have important stock-market updates today.
Two companies, ESDS Software Solution and Priority Jewels, are expected to list their shares on September 04.
Their initial share offerings received many more applications than the number of shares available.
Gland Pharma may see a large stake sale by its investor, Fosun Pharma Industrial.
Power Grid received a large project to connect renewable-energy power in Gujarat.
UltraTech Cement is entering the wires and cables business.
Cipla announced a partnership involving a medicine similar to Keytruda.
Some companies will also give dividends, split shares, announce bonuses, or conduct a buyback-related action.
ESDS Software Solution and Priority Jewels are set to debut on September 04 after IPOs subscribed 135.88 times and 100.45 times, respectively.
Fosun Pharma Industrial may sell a 5% stake in Gland Pharma through a block deal valued at about Rs 2,279.5 crore.
Power Grid received a Rs 1,152.49 crore renewable-energy transmission project, while Rail Vikas Nigam emerged as the lowest bidder for a Rs 404.88 crore contract.
UltraTech Cement entered the wires and cables market with an Rs 1,800 crore investment under the Ultravolt brand, and Sterlite Technologies approved Rs 3,000 crore in manufacturing capex.
Shares of several companies will trade ex-dividend, while Integrated Proteins and TCC Concept have ex-splits and Jonjua Overseas has an ex-bonus date.
- Who
- ESDS Software Solution, Priority Jewels, Gland Pharma, Power Grid Corporation of India, UltraTech Cement, Cipla and other listed companies.
- What
- The companies reported IPO listings, a possible block deal, new contracts, business investments, partnerships and other corporate actions.
- Where
- The reported activities involve India, including projects in Gujarat and Karnataka, as well as Cipla's US commercialization plans.
- When
- The IPO debuts are scheduled for Friday, September 04; dividend and other corporate actions are listed for today.
- Why
- The actions are intended to raise capital, expand businesses, secure projects, support renewable energy, develop products and return value to shareholders.
Key facts
- ESDS IPO
- Raised Rs 720 crore; issue subscribed 135.88 times; shares were offered at Rs 429 with a lot size of 34.
- Priority Jewels IPO
- Raised Rs 92 crore; issue subscribed 100.45 times; shares were offered at Rs 200 with a lot size of 75.
- Gland Pharma block deal
- Fosun Pharma Industrial is reportedly likely to sell a 5% stake for about Rs 2,279.5 crore at a floor price of Rs 2,763 per share.
- Power Grid project
- Received a letter of intent worth Rs 1,152.49 crore for a renewable-energy transmission system in Gujarat.
- UltraTech investment
- Entered the wires and cables market with an Rs 1,800 crore investment under the Ultravolt brand.
- Cipla partnership
- Invagen Pharmaceuticals partnered with Qilu Pharma to license and supply QL2107, a biosimilar to pembrolizumab, in the US.
- RBL Bank notice
- Received a proposed GST demand of Rs 164.13 crore, including applicable interest and penalty, for financial year 2022-23.
Sources
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