Goodwill Hospital’s issue opens on December 30 and closes on January 9
Goodwill Hospital and Research Centre Ltd, engaged in running a multi-speciality hospital at Noida, has fixed price band of Rs175 to Rs185 for its proposed public offer.
The company is entering the capital market with its initial public offer (IPO) of equity share of face value Rs10 each at a premium aggregating to Rs62 crore along with one detachable warrant per equity share offered. The proposed issue is being made through a 100% book building process, a company statement said here. The issue opens on December 30 and closes on January 9.
The company intends to use issue proceeds for setting up of diagnostic centre at Faridabad with an outlay of Rs16.22 crore, establishment of six polyclinics at a cost of Rs33.97 crore and repayment of loans of Rs10 crore.
Goodwill Hospital is running a multi-speciality hospital at Noida under the name 'Ojjus Medicare', with a focus on core areas such as neurology and neuro surgery, cardiology and cardiac surgery and orthopaedics with emphasis on joint replacements and sports injuries. The company also plans to set up a wellness and cosmetology centre at Gurgaon offering solutions for wellness and aesthetics under one roof, the release said.
Insta Car Loan facility offers customers instant in-principle approvals for car loans, based on credit checks at designated car dealerships or at Axis Bank branches
Axis Bank with BankBazaar.com has launched ‘Insta Car Loans’, an auto finance facility that approves instant car loans at various car dealerships and at Axis Bank branches.
Axis Bank's Insta Car Loan facility offers customers instant in-principle approvals for car loans, based on credit checks in real time at designated car dealerships or at Axis Bank branches. The feature also provides car dealerships instant approvals for their customers without any additional investment in manpower or software as the facility can be accessed with just an internet connection.
In the initial phase Axis Bank is offering ‘Insta Car Loan’ facility across 50 dealerships in Mumbai, Delhi NCR, Pune, Ahmedabad, Kolkata, Hyderabad, Chennai and Bangalore. The Bank is further planning to expand ‘Insta Car Loan’ facility to nearly 200 dealerships across 30 cities.
Fears of a global economic slowdown and domestic troubles with inflation, interest rates, lack of reforms and the falling rupee made investors cautious in 2011
In a departure from big gains in the past two years, investors saw around Rs20 lakh crore of their wealth eroded as Indian equities tanked in 2011 because of inflation, high interest rates and the uncertain global growth environment accentuated by the euro zone debt crisis.
In addition, the rupee fell to historic lows against the US dollar, hitting the country's import bill. The bellwether indices of the Bombay Stock Exchange as well as the National Stock Exchange fell by over 26% during the course of the year, touching new lows.
The 30-scrip BSE Sensex was down by 5,334.01 points, or over 26%, at 15,175.08 on December 20, against last year's close of 20,509.09. Similarly, the 50-share Nifty witnessed a hefty fall of 1,590.30 points, or 25.92%, to 4,544.20 on December 20 from last year's close.
There has been some recovery since then, with the Sensex closing at 15,873.95 and the Nifty at 4,750.50 yesterday, but market experts say investors remain cautious on India. Globally, the deepening European debt crisis and a historic downgrade of US creditworthiness hit the economic growth sentiment.
Besides, political turmoil in the Middle East pushed up global crude oil prices, adding to inflationary pressures and pushing up the country's import bill. FIIs, the main drivers of the market, turned negative on Indian equities this year and after having injected a record Rs1,33,266 crore, or over $ 29.36 billion, in 2010, pulled out Rs2,497.50 crore, or $318.00 million, from equities till December 19.
Meanwhile, as per Sebi data, they pumped in Rs39,637.50 crore, or over $ 8.2 billion, into the debt market till December 19. The Sensex had gained 7,817.50 points, or 81.03% in 2009 -- the highest rise in any one year in absolute terms -- while it spurted by another 3,044.28 points, or 17.43%, in 2010. The Nifty also had soared by 2,241.90 points, or 75.76%, in 2009, followed by 933.45 points, or 17.95%, last year.
Fears of a global economic slowdown and domestic troubles with inflation, interest rates, lack of reforms and the falling rupee made investors cautious in 2011, especially during the last quarter.
Aggressive offloading resulted in 12 of the 13 sectoral indices closing in the red, with some of them hitting 52-week lows during 2011. Only the BSE-FMCG gained, but just about 9% up to last week. In a bid to tame swollen inflation, the Reserve Bank of India hiked key lending rates 13 times in 19 months. It also cut the GDP growth forecast for the current fiscal to 7.6% from 8% projected earlier.
However, in the mid-quarter monetary policy review on December 16, the RBI left the lending rate unchanged to support faltering economic growth amid hopes that inflation will begin to fall after hovering close to double digits most of the year.