Kishore Biyani owned firm Future Ventures Ltd has raised Rs750 crore through initial public offer last month
The Bombay Stock Exchange (BSE) said it will include Future Ventures India Ltd (FVIL) in its BSE IPO Index effective from 12th May.
Kishore Biyani owned investment and business management firm Future Ventures Ltd, has raised Rs750 crore through initial public offer (IPO) last month.
FVIL, which invests in businesses that seek to sell to India's growing middle-class, plans to use a large part of the funds to acquire new businesses; a small part of the proceeds will be used to grow the existing businesses.
Servalakshmi Paper scrip opened at Rs30 a piece, up 3.44% from the issue price on the BSE
Shares of Servalakshmi Paper debuted with a premium of over 3% on the Bombay Stock Exchange (BSE) today vis-a-vis their issue price of Rs29 per share.
The scrip opened at Rs30 a piece, up 3.44% from the issue price on the BSE. Within minutes, the stock zoomed up by 21% to touch an early high of Rs35.10.
On the National Stock Exchange, the scrip opened at Rs29 apiece, but soon jumped to Rs35.20.
On the volume front, over six crore shares of the company were traded in the first few minutes of trade.
Servalakshmi Paper, which is in the business of manufacturing, printing and writing paper, had entered the capital market with a price band of Rs27-Rs29 per share through a Rs60 crore public issue.
The company will use the proceeds from the issue for capacity expansion and to meet its working capital requirements, among other things.
RBI would issue draft guidelines on new banking licences in the next couple of weeks
The Reserve Bank of India today pitched for increased foreign direct investment (FDI) into the country, even as it expressed apprehension over the quality of portfolio inflows.
RBI deputy governor Shyamala Gopinath said India has been able to absorb capital inflows because it has a current account deficit.
“But we have expressed apprehension on the quality of inflows in terms of portfolio inflows,” she said. “But as we see today, we are not seeing too much volatility in that sense. But we would want more of FDI to come in so that quality of the flows do alter,” she added.
Gopinath also said the RBI would issue draft guidelines on new banking licences in the next couple of weeks.
“We are in consultation with the government (in regard to draft guidelines). There is no tussle with the government as such,” she said in response to a question, adding that the RBI and the government converge on many issues vis-a-vis these guidelines.
Gopinath also said rising commodity prices, particularly oil and gas, would add to the inflationary pressures, adding that the other factor driving inflation is that the price rise has not been factored in the administrative price of items like fuel.
“So, yes, we would be impacted if commodity prices go up substantially,” she added.