Month: April 2019

Morning Business News Round Up_April 12, 2019

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Morning Business News:

  • Banks close FY19 with 13.24% credit growth
  • India Inc’s foreign investment rises 18% to $2.69 billion in March
  • RBI injected Rs 2.98 lakh cr liquidity in 2018-19
  • Tata Tele merger: DoT seeks bank guarantee from Airtel
  • Tyre demand to grow 7-9% during FY19-FY23: Icra
  • Bank deposits face competition in company NCDs
  • People happy to share data for better pricing: Survey
  • Sebi to seek details from mutual funds with schemes linked to Zee group
  • Whistle-blower letter: Deloitte faces SFIO probe in IL&FS case
  • India should bolster capitalisation of govt-owned banks to tackle NPAs: IMF
  • Sebi issues guidelines for boosting risk management in the MF industry
  • NMDC’s new integrated steel plant to add $1.7 billion to topline

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  • Sugar mills owe $4.38 billion to cane growers who are unpaid from a year
  • Sweden stresses on need for EU-India free-trade agreement
  • Lower capacity utilisation hits wind turbine manufacturers
  • L&T acquires TIDCO’s 3 per cent stake in L&T Shipbuilding for Rs 32.74 cr
  • Etihad, NIIF submit EoI for Jet; Goyal pledges shares with PNB
  • Coal India picks PDIL as successful bidder to set up methanol plant
  • PFRDA to issue new guidelines on FDI in pension sector
  • Sun Pharma’s senior executive, wife settle insider trading case with Sebi
  • JSW Steel sells $500 million debt to overseas investors
  • Subhash Chandra reiterates commitment to repay all debtors in full
  • Google Pay launches gold buying, partners MMTC-PAMP India
  • BBB for autonomy to PSU banks to decide organisational structure
  • Jet Airways suspends Singapore flights; airline’s fleet now down to 14 aircraft
  • India has scope for reducing untargeted food, fertiliser subsidies: IMF
  • Tiger Global, Sequoia India backs mobile marketing startup Clevertap
  • Rupee rises for 3rd day, up 19 paise at 68.92 against dollar
  • Saudi oil cuts deeper than promised: International Energy Agency
  • Gold slides on muted demand, sluggish trend overseas
  • 75 firms can return Rs 1.1 lakh crore to shareholders
  • RBL Bank ties up with CreditVidya to improve customer experience

Morning Business News Round Up_April 11, 2019

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Morning Business News:

  • Some reforms in India show benefits of digitalisation: IMF
  • Vodafone India’s $3.5 billion equity issuance not enough: Fitch
  • ECB keeps easy policy unchanged amid global gloom
  • DoT forms panel to deal with insolvency issues
  • Airtel to have European vendors for 4G calling service
  • Wipro to consider share buyback on April 16
  • Delhi HC asks RBI to explain how G Pay is operating
  • I-T crackdown: Over 100,000, mostly HNIs, come under lens for AY12-13
  • Renewable energy sector attracts FDI worth $7.48 billion since April 2000
  • Govt extends last date for filing GSTR-1 for March till April 13
  • Mutual funds close FY19 with 11.41% rise in AUM at Rs 23.8 trillion

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  • Irdai directs insurers to share status of claims with policyholders
  • IOCL stops fuel supply to Jet for a while
  • Govt retains GPF interest rate at 8% for Q1 FY20
  • Growth in steel demand to slow to 7.2%
  • Hindalco temporarily suspends operations of alumina plant in Jharkhand
  • India’s April-February rice exports drop 9.4%, pulses surge
  • SAIL supplies steel for indigenous artillery gun, Dhanush
  • PFRDA to issue new guidelines on FDI in pension sector
  • Theresa May to ask EU for Brexit delay; long extension expected
  • JSW Steel sells $500 million debt to overseas investors
  • Wockhardt gets USFDA nod for Decitabine injection
  • SBI Caps extends bidding deadline for Jet Airways stake sale
  • TCS, Google join hands to build industry-specific cloud solutions
  • Paraguay seeks Indian technology and investments for diversifying its economy
  • Protectionism, commodity prices, inadequate liquidity are major challenges for exporters: FIEO
  • European Union offers Britain six-month delay to Brexit date
  • Jio, Vodafone Idea, Airtel pay spectrum dues of over Rs 10,000 crore in April; Anil Ambani’s RCom yet to pay
  • Agri, processed food products’ exports dip 2.27 pc in Apr-Feb 2018-19
  • Sebi revises charges related to basic services demat account
  • Rupee spurts 19 paise to 69.11 vs USD
  • Jaitley addresses global investors on reforms, economic outlook
  • Zambian villagers win right to sue Vedanta

Morning Business News Round Up_April 10, 2019

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Morning Business News:

  • Government meets FY19 fiscal deficit goal of 3.4%
  • India to grow at 7.3% in 2019 and 7.5% in 2020: IMF
  • Tatas take over Usha Martin’s steel business
  • Current economic atmosphere ‘a delicate moment’: IMF
  • PSEs to stay PSUs even with below 51% govt stake
  • BSNL collects record Rs 6,500 crore in revenue
  • SBI reduces MCLR, home loan rates from April 10
  • Direct tax collection may fall short of Rs 50,000 cr in FY’19: Official
  • US criticises India’s data localisation norms, draft e-commerce policy
  • Trump warns EU of $11-bn tariffs over its subsidies to Boeing rival Airbus

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  • NCLAT may ask Arcelor to deposit Essar bid amount of Rs 42,000 cr on Apr 23
  • New hydropower policy could be last chance for revival of neglected sector
  • CAI trims cotton crop size to 321 lakh bales, lowest since 2009-10
  • I-T Dept looking at IBC resolution cases for possible tax violations
  • Ramco Systems bags new order in Australia, New Zealand
  • Mahindra & Mahindra eyes 50% of tractor revenues from overseas
  • Opto Circuits enters into one time settlement with Yes Bank
  • Power producers outstanding dues on discoms spike 20% to nearly ₹41K cr in Jan
  • Vodafone Idea expects Indus Tower stake sale in 3-4 months for ₹5500 crore
  • Polycab ₹1346 crore IPO subscribed over 50 times on last day
  • Panacea Biotec’s lenders approve one-time settlement of outstanding dues
  • Standard Chartered to pay $1.1 billion for sanctions violations
  • Fitch affirms ‘BBB-‘ rating to Exim Bank, stable outlook
  • ‘No deal’ Brexit risks severe economic shock, IMF warns
  • India highest recipient of remittances at USD 79 billion in 2018: World Bank
  • India probes dumping of ‘aluminium, zinc coated flat products’ from China, Vietnam, Korea
  • Gold falls Rs 235 on muted demand
  • Overhauled oil policy to apply from 4th bid round: DGH
  • Rupee snaps 3-day losing streak; rises 37 paise to 69.30 vs USD
  • Ford may merge India biz in new Mahindra JV

Morning Business News Round Up_April 8, 2019

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Morning Business News :

  • Jet lenders to invite EoIs for bidding on Monday
  • New rules to identify cos controlled from abroad
  • Irdai mulls offering installment mode for insurances
  • RBI yet to approve Lakshmi Vilas Bank-IHFL merger
  • NGT imposes Rs 100-cr penalty over illegal sand mining
  • NIIT Tech to acquire WHISHWORKS; sell stake in Esri
  • RIL’s Navi Mumbai project may attract investments worth $75 bn over 10 yrs
  • Industry efficiency improves but new orders dip, show RBI surveys
  • Small finance banks seek equity investment to fund non-MFI portfolio
  • Service providers can opt for GST composition scheme by April 30: CBIC

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  • Switzerland plans to tighten capital rules for its biggest banks
  • Govt keen to usher in reforms in third phase of MCA-21 project
  • FAME-II to impact electric 2-wheeler segment most: CRISIL
  • co-location case: 13 more trading members under SEBI scanner
  • India ready to consider lower import duties on high-end mobile phones
  • GAIL’s Kochi-Mangaluru pipeline hits roadblock again
  • Lupin recalls over 12,000 cartons of birth control tablets from US market
  • With the world economy slowing, global debt also  cooled off in 2018
  • Liquidity and earnings recovery key risks for Indian equities in FY20
  • Remittances to India are exposed to risks of further moderation
  • US plans to seek UK bankruptcy court’s aid in Nirav Modi’s case
  • Everstone buys controlling stake in Sahyadri Hospitals
  • India in talks with Netherlands to amend bilateral tax treaty
  • India’s coal import rises 8 percent to 212 MT in April-February
  • China’s March forex reserves rise 7-month high to $3.099 trillion
  • GST officers seek clarification from companies for mismatch in sales returns, e-way bill data
  • Hero MotoCorp widens gap over Honda in two-wheeler sales in FY19
  • Foreign investors may invest Rs 18,000 cr in Voda Idea rights issue: Report
  • FPIs pour in Rs 8,634 crore in April so far on positive market trends

Forthcoming_ipo_Polycap India Limited

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Forthcoming_ipo_Polycab India Limited

Download IPO Forms (Pre filled Forms): CLICK HERE

IPO Details:

Issue Open Date April 05, 2019 Price Band : Rs. 533 – Rs. 538
Issue Open Date April 09, 2019 Minimum Bid Qty : 27 Equity Shares and in multiples thereof
Face Value Rs. 10 Minimum Investment : Rs. 14526/-

 

Incorporated in 1996, Mumbai based Polycab India Limited is engaged in the business of manufacturing, selling and distributing wires, cables and Fast Moving Electrical Goods (FMEG) products. Some of the FMEG products produced by the company are solar products, luminaires, LED lighting, electric fans, and switchgear.

 

The company entered into an engineering, procurement and construction (“EPC”) business and FMEG business in 2009 and 2014, respectively. As on 31st March 2018, it has more than 3,300 authorized dealers and distributors, 100,000 retail outlets, 24 manufacturing facilities and 29 warehouses in India. All the sales and marketing activities of the company are handled through corporate office, three regional offices and 20 local offices located across India.

 

For Fiscal 2018, the company has market shares of nearly 18% of the organized wires and cables industry and around 12% of the total wires and cables industry in the country based on manufacturers realization.

 

Initial public offering of up to (*) equity shares of face value of Rs. 10 each (equity shares) of the company for cash at a price of Rs. (*) per equity share, including a premium of Rs. (*) per equity share, aggregating up to Rs. (*) Crores (offer) comprising a fresh issue of up to (*) equity shares aggregating up to Rs. 500 Crores by the company (fresh Issue) and an offer for sale of up to 24,886,823 equity shares by the investor selling shareholder, the promoter selling shareholders, the promoter group selling Shareholders and the individual selling shareholders, collectively referred to as the ?selling shareholders? (defined hereinafter) aggregating up to Rs. (*) Crores (such equity shares offered by the selling shareholders, collectively referred to as the offered shares and such an offer for sale, offer for sale). The offer includes a Reservation of up to (*) equity shares aggregating up to Rs. (*) Crores for eligible employees (defined hereinafter) (employee reservation portion) (which shall not exceed 5% of the post-offer equity share capital of the company). The offer less the employee reservation portion is referred to as the ?net offer?. The offer and the net offer shall constitute (*) % and (*) % of the post-offer paid-up equity share capital of the company, respectively. The face value of equity shares is Rs. 10 each. The price band and the minimum bid lot size for the offer will be decided by the company.*

 

Company Promoters :

  1. Inder T. Jaisinghani
  2. Ajay T Jaisinghani
  3. Ramesh T. Jaisinghani
  4. Girdhari T. Jaisinghani

 

Polycab India Limited IPO Registrar:

Name of the Registrar : Karvy Fintech Private Limited

Address of the Registrar : Karvy Selenium, Tower B, Plot 31-32, Gachibowli Nanakramguda,

Hyderabad : 500 032

Contact person name  :  M. Murali Krishna

Contact details :  +91 40 6716 2222

Email ID :  einward.ris@karvy.com

 

Note: Forthcoming ipo Polycab India Limited ipo allotment link on Linkintime website allotment url. Click Here

Polycab India Limited IPO Lead Managers:

  • Axis Capital Ltd
  • Citigroup Global Markets India Pvt Ltd
  • Edelweiss Financial Services Ltd
  • IIFL Holdings Ltd
  • Kotak Mahindra Capital Company Ltd
  • Yes Securities (India) Ltd

 

Company Address:
Polycab India Limited
E-554, Greater Kailash – II
New Delhi 110 048
Tel: +91 11 2922 8574
Fax: +91 11 4105 4838
E-mail: investor.relations@polycab.com
Website: www.polycab.com

Download IPO Forms (Pre filled Forms) :  CLICK HERE

 

Note : You can contact Mr. Bhavesh on 079-68174005 , for any help regarding IPO subcription

 

Morning Business News Round Up_April 5, 2019

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Morning Business News :

  • RBI to ensure strict turnaround time for complaints
  • Maruti cut vehicle production by 21% in March
  • Will work for better transmission of rates: RBI Guv
  • India’s spend on R&D low: Niti Aayog chief
  • Banks may lose over Rs 90,000 crore as Videocon sinks
  • Govt mulls attractive VRS for BSNL, MTNL revival
  • No consensus on release of funds for Jet Airways
  • RBI monetary policy: RBI cuts repo rate by 25 bps to 6%
  • Fitch retains India’s credit rating at ‘BBB-‘ with a ‘stable outlook’
  • Govt sells Rs 1,150 cr ‘enemy’ Wipro shares, state-owned firms major buyers
  • Mukesh Ambani, Sunil Mittal consider competing for stake in Zee: Report

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  • Govt close to meeting fiscal deficit target of 3.4%: Economic Affairs Secy
  • RBI cuts inflation forecast to 2.9-3% for H1 FY20
  • USFDA clearance may strengthen Cipla
  • PVR files complaint with SEBI against Ronnie Screwvala’s allegations
  • JSW Living ventures into steel furniture business
  • IL&FS Financial Services gross NPA at 90%: Uday Kotak
  • Dispensing more cups of coffee, Shell also sells fuel
  • M&A deals in India declined 17% to $25.8 billion in Jan-Mar: Report
  • Lenders to invite bids for Jet Airways stake sale on 6 April
  • New government to announce proposed industrial policy: Suresh Prabhu
  • Govt may cap export of anti-rabies vaccine
  • RBI to come out with fresh circular on resolution of bad loans: Shaktikanta Das
  • India will be a big market for H&M globally: Janne Einola
  • Fitch raises alarm over India’s high joblessness, rural distress
  • IndiGo is Asia’s best low cost airline; bags award by TripAdvisor
  • Tencent mops up $6 billion in huge dollar bond sale
  • Motilal Oswal raises Rs 850 crore via India Realty Excellence Fund
  • Rupee slumps 76 paise to 69.17 vs USD post RBI policy
  • Sensex ends 192 points lower post RBI policy
  • Reliance Jio Digital Services acquires AI firm Haptik in Rs 700 crore deal
  • RBI tweaks LCR norms to boost liquidity

Morning Business News Round Up_April 4, 2019

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Morning Business News :

  • Moscow Exchange signs deals with Indian bourses to attract investors
  • New investment proposals in 2018-19 lowest in 14 years
  • Sebi defers UPI for retail IPO investors till June 30
  • Naresh Goyal agrees to conditions laid down by lenders
  • Southwest Monsoon to be below normal this yr: Skymet
  • Centre pays sovereign guarantees for IL&FS
  • Tax take from Panama probes exceeds $1.2-bn: Report
  • Govt retains power to direct RBI for referring defaulters to NCLT
  • SC order on NPA circular: Govt, RBI will have to bring new rules, says Kant

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  • Paytm Payments Bank to offer risk-free insurance, MF products by June: MD
  • Textiles major Raymond forays into real estate with Thane project
  • Nalco turns lowest cost producer of bauxite, alumina in FY19
  • M&M’s cumulative tractor sales cross 3 million units milestone
  • SAIL crude steel production in FY’19 at 16.3 MT, up 8%
  • WTO: India notifies plans to bring more steel items under quality control
  • L&T submits draft letter to BSE for open offer to buy Mindtree shares
  • Tata Projects receives NPCIL order worth $321 mn
  • Analysts divided over Supreme Court order on NPA resolution
  • Rail Vikas Nigam Ltd IPO to fetch about₹480 crore to government
  • Social security for elderly inadequate in India: UN report
  • BofA sees need for bad loan manager as RBI rules quashed
  • Vijay Mallya fights Indian banks’ attempt to recover dues in UK
  • DoT to take Election Commission nod before moving Cabinet proposal on VRS for MTNL, BSNL staff
  • Dr Reddy’s readies plan to scale China operations
  • Bharti strengthens content portfolio with Airtel Books app
  • Exports in March to reach USD 32.38 bn; over USD 330 bn in 2018-19: Prabhu
  • Sensex snaps 4-day winning streak, drops 180 points
  • Rupee jumps 40 paise to 68.74 against US dollar

Ongoing_ipo_Metropolis_Healthcare_Limited

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Metropolis Healthcare Limited

Download IPO Prefilled Forms : CLICK HERE

IPO Details:

Issue Open Date April 03, 2019 Price Band : Rs. 877 – Rs. 880
Issue Open Date April 05, 2019 Minimum Bid Qty : 17 Equity Shares and in multiples thereof
Face Value Rs. 2 Minimum Investment : Rs. 14960/-

 

Incorporated in 1980, Mumbai based Metropolis Healthcare Limited is a chain of diagnostic companies. It has 106 clinical laboratories 1130 collection centers in seven countries. In India, it has laboratories across 18 states and 173 cities for monitoring of disease, early detection, and diagnostic screening.

The company also provides analytical and support services for the clinical research projects to some clinical research organizations. In the last financial year (2018), approximately 7.7 million patients visited the lab and around 16.0 million tests conducted in the clinics.

Metropolis offers 3,480 clinical laboratory tests and 524 profiles which combines a variety of tests for the specific disease. To provide better services, it has implemented a ‘hub and spoke’ model. Outside India, the company has a presence in Ghana, Zambia, Kenya, Srilanka and Mauritius for laboratory operations and in UAE, Nepal, Nigeria, and Oman for 3rd party services.

Initial Public Offering Of Up To 13,685,095 Equity Shares Of Face Value Of Rs.2 Each (The “Equity Shares”) Of Our Company For Cash At A Price Of Rs. [●] Per Equity Share Aggregating Up To Rs. [●] Million, Consisting Of An Offer For Sale Of Up To 6,272, 335 Equity Shares By Dr. Sushil Kanubhai Shah (The “Promoter Selling Shareholder”) Aggregating Up To [●] Million And Up To 7,412,760 Equity Shares By Ca Lotus Investments (The “Investor Selling Shareholder”) Aggregating Up To [●] Million (The “Offer”). The Offer Includes A Reservation Of Up To 300,000 Equity Shares Aggregating Up To Rs. [●] Million, For Subscription By Eligible Employees (As Defined Hereinafter) (The “Employee Reservation Portion”). The Offer Less The Employee Reservation Portion Is Hereinafter Referred To As The “Net Offer” And Such Net Offer Aggregates Up To 13,385,095 Equity Shares. The Offer And The Net Offer Shall Constitute 27.27% And 26.67%, Respectively, Of The Post-Offer Paid-Up Equity Share Capital Of Our Company.

 

Company Promoters :

  1. Sushil Kanubhai Shah
  2. Ameera Sushil Shah
  3. Metz Advisory LLP

 

Metropolis Healthcare IPO Registrar:

Name of the Registrar : Link In time India Private Limited

Address of the Registrar : C-101, 1st floor, 247 Park, L B S Marg, Vikhroli West,Mumbai 400 083

Contact person name  :  Shanti Gopalkrishnan

Contact details :  (91 22) 4918 6200/(91 22) 49186195,

Email ID :  metropolis.ipo@linkintime.co.in / metropolis.ipo@linkintime.co.in

 

Note: Check Metropolis Healthcare ipo allotment status on Linkintime website allotment url. Click Here

Metropolis Healthcare IPO Lead Managers:

  • JM Financial Limited,
  • Credit Suisse Securities (India) Private Limited,
  • Goldman Sachs (India) Securities Private Limited,
  • HDFC Bank Limited
  • Kotak Mahindra Capital Company Limited

Company Address:
Metropolis Healthcare Limited
250 D Udyog Bhavan,
Hind Cycle Marg, Worli,
Mumbai 400 030,
Tel: (91 22) 6258 2810
Contact Person: Jayant Prakash
Head Legal, Company Secretary and Compliance Officer
E-mail: investor.relations@metropolisindia.com
Website: www.metropolisindia.com

Download IPO Forms Prefilled :  CLICK HERE

 

Note : You can contact Mr. Bhavesh on 079-68174005 , for any help regarding IPO subscription.

Morning Business News Round Up_April 3, 2019

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Morning Business News :

  • Legal fraternity divided over SC order on NPA circular
  • ‘Precarious’ global rebound expected in late 2019: IMF
  • Jet grounds 15 more planes over non-payment of dues
  • Banks can now refer defaulters to NCLT: Bankers
  • BlackRock begins its biggest organisational overhaul in years
  • Britain to seek further delay to Brexit: Theresa May
  • SC order on RBI circular negative for banks, may defer debt resolution
  • Rel Jio transfers fibre and tower infrastructure to InvITs
  • Manufacturing growth slips to six-month low in March: PMI
  • RBI to introduce new seven-year and 20-yr bonds on April 5

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  • S&P Global Ratings revises outlook on Tata Steel to positive from stable
  • Paytm Money receives Sebi approval to start stock broking services
  • Govt to discuss strategy to boost exports to China
  • Liquidity issues, drop in crop area drag tractor sales in FY19
  • Climate, conflicts set to plunge millions into food crisis
  • Tea board fixes ₹15.98/kg as green leaf price for April
  • NTPC’s installed capacity at 55,126 MW
  • MG Motor India in talks with payment gateways
  • EU drags India to WTO over import duties on ICT products
  • Sebi issues circular on appointment of administrators
  • No production of Tata Nano for third month in row, no sales in March
  • Wipro Infrastructure Engineering buys Incite Cam Centre’s Automation Business
  • Power companies heave a sigh of relief as SC quashes RBI NPA circular
  • India-Mexico bilateral trade breaks record; touches $10 billion
  • Dr Reddy’s US arm sells rights for 3 brands to Encore Dermatology
  • Rupee jumps 40 paise to 68.74 against US dollar
  • Sensex marks highest ever close, surges 185 points
  • RBI begins 3-day meet on monetary policy amidst rate cut hopes
  • Realtors have time till May 10 to opt for old GST rates

Morning Business News Round Up_April 2, 2019

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Morning Business News :

  • Core sectors’ growth slows down to 2.1 pc in Feb
  • ONGC gas output jumps 6.5 pc to record high in FY19
  • RBI reshuffles lead bank responsibilities post merger
  • Ferrero to buy biscuit biz’s of Kellogg for $1.3 bln
  • Saudi Aramco world’s most profitable co in 2018
  • RBI to hold second round of $-Re swap auction
  • 20 days more for resolution of Uttam Galva cos
  • GST revenue touches record high of Rs 1.06 trillion in March: FinMin
  • OMC to open four new mines, increase output to beat iron ore crunch
  • India delays levying retaliatory tariff on US goods to May 2
  • UPI touches nearly 800 mn transactions, amounting to Rs 1.3 trn in March

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  • India levies anti-dumping duty on solar cell component from four nations
  • Brexit has cost Britain nearly 2.5% of GDP: Goldman Sachs
  • Commodities’ best quarter since 2016 may be a tough act to follow
  • Suzuki Motorcycle sales up 28% in March
  • Amul clocks 13% rise in turnover at ₹33,150 cr in FY’19
  • Essar Steel debt: SBI moves apex court against NCLAT order
  • Usha Martin co-founder’s ouster may delay steel unit sale to Tatas
  • Sebi proposes amendments to norms governing SROs
  • Passenger vehicle sales grow in single digit in FY19, companies feel slowdown
  • UK exports to India grow at fastest rate among non-EU trading partners
  • TRAI issues showcause notice to BARC India for not releasing TV viewership data
  • Citibank settles case with Sebi, pays ₹4.5 crore
  • Everstone to sell entire stake in Rubicon Research for ₹1,000 crore
  • Softbank backed Elara acquires home rental startup Fastfox for nearly Rs 100 crore
  • After SBI, Bank of Baroda is now India’s second largest PSU bank
  • RBI to unveil this fiscal’s first bi-monthly policy decision on Thursday
  • India levies anti-dumping duty on solar cell component from four nations
  • Johnson & Johnson baby shampoo samples fail quality test; co rejects findings
  • Sensex pares gains after breaching 39,000-level
  • Maruti reports 1.6 pc dip in March sales at 1,58,076 units
  • Foreign investors pull out Rs 44,500 crore from Indian market in 2018-19