Stocks in Focus on December 5: HDFC AMC, Reliance Industries to IndiGo; here are the 5 Newsmakers of the Day
Ujjivan Small Finance Bank IPO: The 750 crore IPO of the Ujjivan Small Finance Bank has received 170 times subscription on the final day of bidding on December 4. The portion set aside for Qualified Institutional Buyers (QIBs) was subscribed 113.8 times, non-institutional investors 486.14 times, and retail investors at 50.4 times.
The domestic equity market ended with decent gains on Wednesday, December 4, 2019. Shares rebounded in the last hour of trade. But certain stocks came in news after the market was closed for trading purposes. These stocks can have an impact on the indices when it reopens for trading purposes on Thursday, December 5, 2019. Here is a list of five such stocks:
HDFC AMC: The company will use the Greenshoe option for 0.86% more stake via offer for sale. OFS will open for retail investors today. The floor price for the sale has been set at Rs3,170 per equity share.
Ujjivan Small Finance Bank IPO: The 750 crore IPO of the Ujjivan Small Finance Bank has received 170 times subscription on the final day of bidding on December 4. The portion set aside for Qualified Institutional Buyers (QIBs) was subscribed 113.8 times, non-institutional investors 486.14 times, and retail investors at 50.4 times. Ujjivan Bank is now the best IPO of the year 2019, overtaking IRCTC issue, which saw subscription of 112 times in October 2019. The Rs 750-crore issue was being sold in Rs 36-37 price band.
Bharti Airtel: Board of Directors of the Company on Wednesday approved the proposal to raise up to $300 crore via debt and equity shares or convertible instruments. The company will raise $200 crore through equity shares or convertible instruments and $100 crore through debt. Besides, the company's board will meet on December 10 to decide on the interim dividend.
Reliance Industries: The world's largest mobile data operator on Wednesday announced new all-in-one plans that offer up to 300% more benefits than earlier all-in-one plans. Plans will go live on December 6, 2019. Jio claims that the new recharge options are 15-25% lower than other companies.
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IndiGo: Indian low-cost airline on Wednesday slashed its FY20 capacity growth guidance to 22% from 25% that was announced during September quarter earnings. The guidance was reduced due to uncertainty over P&W engines.
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