Stocks in Focus on March 24: Barbeque Nation IPO, Anupam Rasayan, MMTC, RVNL to Hero MotoCorp; here are the 5 Newsmakers of the Day
Stocks in Focus on March 24: At the stock markets, the S&P BSE Sensex rose 280 points, or 0.6 per cent, to close at 50,051, on Tuesday, March 23, 2021.
Stocks in Focus on March 24: At the stock markets, the S&P BSE Sensex rose 280 points, or 0.6 per cent, to close at 50,051, on Tuesday, March 23, 2021. The Nifty at the National Stock Exchange advanced 78 points, or 0.5 per cent, to 14,815. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, March 24, 2021. List of such five stocks:
Anupam Rasayan Listing + Barbeque Nation IPO Opening + Nazara Technologies Allotment:
Anupam Rasayan: The specialty chemicals firm Anupam Rasayan is scheduled to be listed on the bourses today, i.e. March 24, 2021. The Rs 760 crore IPO of the company was subscribed 45.2 times. The retail portion of the offer was subscribed 10.77 times. The NII and QIB portions were subscribed 97.42 times and 65.74 times. The issue price for the public issue was set at Rs 553-555 per share.
Barbeque Nation IPO: Barbeque Nation's initial public offering (IPO) will open for subscription today, i.e. Wednesday, March 24, 2021, in the price band of Rs 498- 500 per equity share. The public offer of the company will close on Friday, March 26. Through its initial public offer, Barbeque Nation plans to raise around Rs 453 crore at the upper end of the price band. The IPO consists of a fresh issue of shares worth Rs 180 crore and an offer for sale of up to 5.46 million equity shares worth Rs 273 crore by the present shareholders and promoters. The Barbeque Nation IPO market lot size is 30 shares. The minimum order quantity of the IPO is 30 shares, i.e. a minimum investment of Rs 15,000. Besides, the company has raised around Rs 203 crore by allocating shares at Rs 500 per share to anchor investors. The anchor investors include names, like Fidelity Fund, Eastspring, Nomura, Goldman, SBI Fund, HDFC Fund, ICICI Prudential among others.
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Nazara Technologies: The allocation of shares of the company after its public issue is likely to be finalised today. The IPO of Nazara Technologies, the maker of the world's most popular mobile cricket game, was concluded on Friday, becoming the first Indian gaming app to do so
MMTC: The government is unlikely to extend the Expression of Interest (EoI) timeline for Neelachal Ispat Nigam Limited (NINL) as it is confident that the divestment process of the company will enter its second phase in March 2021, sources informed Zee Business. The EoIs can be submitted by March 29, 2021. MMTC holds 49.78% stakes in NINL and NMDC owns a 10.10% stake in the company.
RVNL OFS: The government will sell 15% of its stake in the Rail Vikas Nigam Ltd (RVNL) through an offer for sale (OFS) to raise around Rd 800 core. The government will divest 10 per cent equity in RVNL and another 5 per cent with the greenshoe option. The floor price of the share is fixed at Rs 27.50 per share, which is a 10% per cent discount to Tuesday’s closing at Rs 30.45 apiece. The issue will open today first for non-retail investors and on Thursday for retail investors, the company said in a regulatory filing to stock exchanges on Tuesday. At present, the government has an 87.84% stake in RVNL with the rest 12.16% stake is with the public. After selling a 15% stake, RVNL will meet the minimum 25% public shareholding norm set by the market regulator SEBI.
Airline Stocks: Airline stocks will be in focus today as the Directorate General of Civil Aviation (DGCA) on Tuesday, extended the suspension of international commercial passenger flight services to/from till April 30, 2021.
Hero MotoCorp: Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021. The price hike has been necessitated to partially offset the impact of increased commodity costs. The price increase across the range of two-wheelers will be up to Rs. 2500, and the exact quantum of the increase will vary based on the model and the specific market. Besides, the world’s largest manufacturer of motorcycles and scooters, on Tuesday launched the new Destini 125 ‘Platinum’ edition.
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