IPO Update

Sterling and Wilson Solar Limited lists at Rs 700 with lackluster response

Sterling and Wilson Solar Limited lists at Rs 700 with lackluster response

Shapoorji Pallonji Group company Sterling and Wilson Solar Limited debuted on stock exchanges at ₹700, nearly 10 percent lower from its issue price of ₹780. The solar engineering and construction company issue failed to list at premium as many analysts were expecting.

Standard Chartered Bank to raise $1 billion through IDR

Standard Chartered BankStandard Chartered Bank plans to raise at least $1 billion through an Indian Depository Receipts (IDR) issue in the local markets.

According to latest reports, the lender has already appointed JM Financial and UBS AG as lead managers for what could be the first IDR issue by a global player.

Apart from this, the bank has also appointed Goldman Sachs, Bank of America and Kotak Mahindra to manage the issue.

Adani Power approaches SEBI with revised draft papers for IPO

Adani Power approaches SEBI with revised draft papers for IPO With its first attempt to come out with an initial public offer (IPO) last May being ruined because of difficult market conditions, Adani Power Ltd has again approached the market regulator SEBI with its revised IPO proposal. The company projects proceeds over Rs 2,000 crore from the public issue.

NHPC to hold IPO till market conditions stabilize

NHPCState-owned NHPC, a hydroelectric power generating company, revealed in a statement, that it would come out with its initial public offer, only after the market conditions improve.

Mr. SK Garg, Chairman and Managing Director of the company said, "IPO is on hold till market conditions stabilize."

Last year in October, the company has planned initial public offer (IPO) of 167 crore equity shares, which latter the company called off due to volatile market conditions.

The company has plans to raise funds for its future expansions and part finance the construction and development costs of certain of identified projects.

Edserv Softsystems ends Day 1 with huge premium of 129%

Edserv Softsystems ends Day 1 with huge premium of 129%Shares of e-learning services provider Edserv Softsystems had a strong debut on the stock exchanges on Monday.

The company’s scrip got listed on Monday at Rs 55, down 8.33 per cent from its issue price of Rs 60 on the Bombay Stock Exchange, but later settled the day with whopping premium at Rs 137.55, up Rs 78 or 129 per cent.

During trading session, the scrip touched an intraday high of Rs 147 and intraday low of Rs 55 on BSE. The total traded quantity was 3,41,04,135 shares.

Edserv Softsystems IPO stands alone in tough times; subscribed 1.30 times

Edserv Softsystems IPO stands alone in tough times; subscribed 1.30 times The initial public offer (IPO) of Chennai-based Edserv Softsystems of Rs 20 crore managed to sail through even while the Rs 44-crore IPO of Gemini Engi-Fab has been pulled off last week due to lack of investor confidence.

According to data revealed by National Stock Exchange, the IPO of EdServ Softsystems has received 51,49,000 bids as against issue size of 39,73,908 shares and got subscribed 1.30 times.

The price band for the issue was fixed between Rs 55 and Rs 60.

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