Saturday, November 23
Driven by a robust demand from retail investors, the initial public offer (IPO) of Niva Bupa Healthcare sailed through on Monday, the last day of the bidding process, being subscribed by 1.28 times or 128% so far.Around 11:15 am, the retail participants had bid for 5,79,52,000 shares from the 3,14,28,571 reserved for them, subscribing to the issue by 1.85 times. This was followed by the qualified institutional buyers (QIBs), who had subscribed to the issue by 1.05 times.Meanwhile, non-institutional investors (NIIs) subscribed to the issue by 46%.The issue, which is a fresh equity sale of Rs 800 crore and an offer for sale (OFS) of Rs 1.89 crore shares, will be available for bidding till November 11.Under the OFS, Bupa Singapore Holdings and Fettle Tone will offload their part stakes.The co
Shares of state-owned Power Finance Corporation (PFC) rallied nearly 9% to Rs 480 in Monday's trade on BSE after the company posted nearly 9% rise in consolidated net profit at Rs 7,214.90 crore for September quarter mainly on the back of higher revenues. The company logged a profit of Rs 6,628.17 crore in the same period of FY24.The company's revenue from operations increased 15% to Rs 25,721.8 crore as against Rs 22,374.6 crore in the corresponding period of the preceding fiscal.At the operating level, EBITDA was up 10.5% to Rs 25,354.2 crore in the second quarter of this fiscal over Rs 22,942.4 crore in the corresponding period in the previous fiscal. There was 13% growth in consolidated loan asset book, from Rs 9,23,724 crore as on September 30, 2023 to Rs 10,39,472 crore at September-
New Delhi: The Centre is planning to hold a workshop for companies looking to import premium electric cars at concessional tariffs in a renewed bid to elicit stakeholder feedback on the much-hyped scheme.The scheme, launched with much fanfare last year, had raised hopes that US electric car giant Tesla would start operations in the country. It however elicited a lukewarm response so far, prompting the need for deliberations to ascertain the reasons including whether more sops are needed.Feedback garnered during the workshop will be considered while framing rules governing the scheme. The rules are still to be finalised. This would be the second round of consultations with the industry.The Centre's latest step follows the latest US presidential poll that saw Tesla founder Elon Musk work clo
India's coal import rose by 7.8 per cent to 140.60 million tonne (MT) in the April-September period of the ongoing financial year. The country's coal import was 130.34 MT in the year-ago period, according to data compiled by B2B e-commerce company mjunction services ltd. Overall, coal import demand is likely to remain modest due to the healthy stock position and high volumes being offered through spot e-auctions in the domestic market, mjunction MD and CEO Vinaya Varma said. Coal import in September dropped by 10.09 per cent to 19.42 MT from 21.60 MT in the corresponding month of previous fiscal. Of the total imports in September, non-coking coal volume was 13.24 MT, against 14.88 MT in the year-ago month. Coking coal import stood at 3.39 MT, against 4.59 MT a year ago. During the Apr
