Construction company RPP Infra Projects Ltd said it received an approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).
The company proposes to deploy the net proceeds of the issue for investment in special purpose vehicles (SPVs) for build, operate and transfer (BOT) projects, meeting capital expenditure requirement, funding margin requirement for working capital and meeting general corporate expenses.
The company proposes to enter the capital markets with a public issue of 65 lakh shares of Rs10 each through a book building process. The issue comprises a fresh issue of 61 lakh shares by RPP Infra Projects and an offer for sale of 4 lakh equity shares by the promoters. The issue will constitute 28.8% of the post issue paid-up capital of the company and the net issue will constitute 27% of the post issue paid-up capital of the company. VC Corporate Advisors Pvt Ltd, Kolkata, is the book running lead manager to the issue.
Mangalore Chemicals & Fertilisers Ltd recorded an around 127% increase in net profit to Rs33.8 crore for the second quarter ended 30 September on higher sales.
The company, which predominantly deals in the fertiliser segment, had recorded Rs14.9 crore net profit during the year-ago period, it said in a regulatory filing.
Net sales of the company during the July-September period stood at Rs1,021.9 crore, compared to Rs609.9 crore during the corresponding period one-year ago.
On Tuesday, Mangalore Chemicals shares ended 15.6% higher at Rs40 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.9% to 19,983 points.
Ratings agency CRISIL Ltd said its third quarter net profit jumped 75% to Rs75.4 from Rs43.1 crore as its revenues grew 20%.
For the third quarter to end-September, the ratings agency said its total revenues rose to Rs159.1 crore from Rs1323.9 crore, a year ago.
CRISIL has declared an interim dividend of Rs25 per share.
During the quarter under review, the firm entered an agreement to purchase the business of investment research services player Pipal Research Corporation.
Besides, it also released its 5,000th bank loan rating during the last quarter and launched star ratings service for the real-estate segment, it said in a release.
On Tuesday, CRISIL shares ended flat at Rs6,117 on the BSE, while the benchmark Sensex declined 0.9% to 19,983 points.