Intas Pharmaceuticals has filed documents with SEBI for an initial public offer that includes sale of fresh equity worth Rs425 crore
Drug maker Intas Pharmaceuticals said it has filed documents with the market regulator Securities and Exchange Board of India (SEBI) for an initial public offer that includes sale of fresh equity worth Rs425 crore.
"Intas Pharmaceuticals has filed its draft red herring prospectus (DRHP) with the SEBI for an initial public offering," the Ahmedabad-based firm said in a statement.
Shares of PTC India Financial Services made a weak debut on the bourses today, shedding 9.28% vis-a-vis its issue price of Rs28 in the early trade on the BSE
Shares of PTC India Financial Services made a weak debut on the bourses today, shedding 9.28% vis-a-vis its issue price of Rs28 in the early trade on the Bombay Stock Exchange (BSE).
The scrip opened at Rs28 equivalent to the issue price on the BSE, but within minutes of opening trade, it lost ground and fell by 9.28% to trade at Rs25.40.
Similarly on the National Stock Exchange, the stock opened 4.46% down at Rs26.75 a piece and subsequently plunged further to Rs25.55, down 8.75% from its issue price.
PTC India Financial Services, the non-banking financial institution promoted by PTC India, had fixed a price band of Rs26-Rs28 a share for its initial public offering (IPO).
The company intends to utilise the proceeds for augmenting its capital base to meet the future capital requirements arising out of growth in its business.
PTC Financial Services was promoted to make investments in companies engaged in power generation, equipment supply and fuel source projects.
The company is focused primarily on power generation projects in India, but also provides fee-based syndication and advisory services as well as carbon credit financing against certified emission reductions.
National Stock Exchange has launched a new index series CNX Smallcap Index today
National Stock Exchange (NSE) has launched a new index series CNX Smallcap Index today. The move is aimed at developing an index that would meet the requirements of market participants.
The index is designed to reflect the behaviour and performance of the small capitalised segment of the financial market, according to a statement by India Index Services & Products Ltd (IISL), a joint venture of NSE and CRISIL.
The index is calculated using free float market capitalisation methodology, the total cost of buying all the shares in the open market, with a base date of 1 January 2004 indexed to a base value of 1,000, it added.
The company, which would be inducted in the Index, must have a three years track record of operations with positive net worth.
Besides, the firms must have demonstrated a trading frequency of at least 90% in the last six months and all constituents of the CNX Smallcap Index must have a minimum listing record of six months, it said.
The Bombay Stock Exchange had introduced a similar index called BSE Smallcap index in 2005.