1 week ago
Indian Stocks See IPO Listings, Deals, Fundraising And Corporate Actions
Several Indian companies made important stock-market announcements.
Sunshine Pictures and Shankesh Jewellers are expected to start trading on Tuesday after selling shares to investors.
Sunshine Pictures was in very high demand, while Shankesh Jewellers received more limited demand.
The government plans to sell part of its ownership in Hindustan Copper at a discount to its recent market price.
Tata Consultancy Services plans to buy a German technology and consulting company linked to Porsche.
Suzlon Energy announced plans for new wind projects in Andhra Pradesh.
Afcons Infrastructure won an arbitration award worth Rs 335.50 crore.
Other companies announced loans, fundraising plans, dividends, share splits, rights issues and regulatory notices.
Sunshine Pictures and Shankesh Jewellers are scheduled to list on Tuesday after raising Rs 282 crore and Rs 274 crore, respectively.
The Government of India will offer a 3% stake in Hindustan Copper at a floor price of Rs 514 per share, with an additional 3% green-shoe option.
Tata Consultancy Services will acquire MHP Management- und IT-Beratung GmbH for an enterprise value of €320 million.
Suzlon Energy plans to develop 1,325 MW of wind projects in Andhra Pradesh, while Afcons Infrastructure received a Rs 335.50 crore arbitration award.
Several companies have ex-dividend, ex-split or rights-issue dates today, while other firms announced debt fundraising, buyback consideration or regulatory actions.
- Who
- The companies named in the announcements, including Sunshine Pictures, Shankesh Jewellers, Hindustan Copper, Tata Consultancy Services, Suzlon Energy and Afcons Infrastructure.
- What
- The announcements cover new stock listings, a government stake sale, an acquisition, wind-project development, an arbitration award, fundraising and corporate actions.
- Where
- The developments concern Indian stock exchanges and businesses in India, with TCS's proposed acquisition involving Germany and Coal India's subsidiary based in Singapore.
- When
- The IPO listings are scheduled for Tuesday; several shares trade ex-date today; other announcements refer to August 24 and August 27.
- Why
- The companies are raising funds, expanding operations, implementing shareholder actions, pursuing acquisitions or responding to regulatory and legal matters.
Key facts
- Sunshine Pictures IPO
- Raised Rs 282 crore; issue subscribed 105.81 times, with nearly 34.18 lakh applications.
- Shankesh Jewellers IPO
- Raised Rs 274 crore; issue was subscribed 2.80 times overall.
- Hindustan Copper OFS
- Government will sell a 3% stake, with an additional 3% green-shoe option; floor price is Rs 514 per share.
- TCS acquisition
- Tata Consultancy Services Netherlands BV approved the acquisition of 100% of MHP Management- und IT-Beratung GmbH for €320 million.
- Suzlon projects
- Suzlon plans to develop 1,325 MW of new wind projects in Rayadurg constituency, Andhra Pradesh.
- Afcons arbitration
- Afcons Infrastructure received an arbitral award of Rs 335.50 crore in its dispute with UPEIDA.
- IRFC GST notice
- The company received a notice concerning Rs 305.38 crore of excess input tax credit; total demand including interest and penalty is Rs 549.32 crore.
Sources
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