February 2019 - Indian IPO Blog

Friday, February 8, 2019

Mazgaon Dock IPO upcoming till month end

February 08, 2019 0
Mazgaon Dock IPO upcoming till month end
State-owned Mazagon Dock Shipbuilders is likely to raise Rs 500-600 crore through an initial public offer (IPO) by the end of this month, a senior company official said Wednesday. The public sector undertaking had in August last year received Sebi's go ahead to float the initial share sale.

Mazagon, a leading shipyard of the country, would see sale of over 2.24 crore equity shares, amounting to 10 percent stake of the government.

The offer will also have a portion for employees, which will not exceed 5 per cent of the post offer paid up equity share capital of the company.

The IPO is part of the government's efforts to garner Rs 80,000 crore through stake sales in state-owned companies in 2018-19.

Thursday, February 7, 2019

Amidst tough times, Anil Ambani led Reliance General re-files for IPO

February 07, 2019 0
Amidst tough times, Anil Ambani led Reliance General re-files for IPO
This one's clearly a surprise!

In a market with heavy negative investor sentiment, the Anil Ambani-led Reliance group is planning an initial public offering (IPO) of a group company as early as this financial year. Reliance General Insurance Company will re-file its IPO document with market regulator Securities and Exchange Board of India (Sebi) this week, according to investment banking sources.

The company is hoping to obtain pending regulatory approvals soon, and targeting to list before March-end

Reliance General had all the approvals in place last year, but couldn't launch its IPO because of challenging market conditions and negative sentiments towards the group companies. While not much has changed on that front, the company and bankers are hopeful that the issue would sail through as the general insurer has shown an improvement in performance.

It will be intriguing to note how market will react to this given the heavy negative publicity towards ADAG

Source: BusinessStandard

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