Stocks in Focus on September 22: Paras Defence IPO, KEC International, Torrent Power, Nazara Technologies to SBI Cards; here are the 5 Newsmakers of the Day
At the stock markets, the Sensex at the Bombay Stock Exchange climbed 514.34 points, or 0.88%, to end at 59,005.27, on Tuesday, September 21, 2021. The Nifty at the National Stock Exchange advanced 165.10 points, or 0.95%, to 17,562. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, September 22, 2021. List of such five stocks:
Paras Defence IPO: The Rs 170 crore initial public offering (IPO) of Paras Defence and Space Technologies Limited was subscribed 16.57 times on Tuesday, the first day of bidding. The QIB portion was subscribed 1% on the first day, while Non-Institutional Investors (NII) and Retail portions were subscribed 3.77 times and 31.36 times, respectively. The subscription will close on Thursday, September 23, 2021. The price band for the issue of the Mumbai-based defence company has been fixed at Rs 165-175 per share. The issue comprises a fresh issue of Rs 140.6 crore by the company and an offer for sale of up to 17,24,490 equity shares worth Rs 30 crore by existing shareholders including Paras Defence promoters. Retail investors can subscribe to the IPO by placing bids in the lot of 85 equity shares and multiples of 85 thereafter.
See Zee Business Live TV Streaming Below:
KEC International: Engineering, procurement and construction major KEC International Ltd on Tuesday said it has bagged orders worth Rs 1,157 crore across its various businesses. In the transmission and distribution segment, it has bagged orders worth Rs 663 crore for projects in the Middle East, Africa, and the Americas. In the railways' segment, it has orders of Rs 220 crore for 2 x 25 kilovolts (kV) overhead electrification and associated works for speed up-gradation in India. In the civil segment, it has secured an order of Rs 173 crore for the construction of a new airport terminal building and associated works in southern India. In the cables business, it has secured orders of Rs 101 crore for various types of cables in India and overseas.
Torrent Power: Torrent Power Limited has entered into a Share Purchase Agreement with CESC Limited, Haldia Energy Limited and other Nominal Shareholders for the acquisition of 100% of the share capital of Surya Vidyut Limited (the SPV), a wholly-owned subsidiary of CESC Limited. Surya Vidyut operates 156 MW Wind power plants (the Projects), spread across the states of Gujarat, Rajasthan and Madhya Pradesh. Enterprise Value estimated for this acquisition is about Rs 790 crore. Surya Vidyut’s turnover in FY2021 stood at Rs 117.39 crore.
Nazara Technologies: Publishme Global FZ LLC, one of step- down wholly-owned subsidiary of the Company, has signed definitive agreements with Arrakis Tanitim Organizasyon Pazarlama San. Tic. Ltd. Sti. (Publishme) and the founders and shareholders of Publishme and Nazara Technologies FZ LLC. It has signed an agreement for the proposed acquisition of a 100% stake of Publishme through secondary purchase from the founders and existing shareholders of Publishme and a subscription of 30.82% stake by the founders of Publishme in Publishme Global FZ LLC. Post completion of both above transactions, Publishme Global FZ LLC, will hold a 69.18% stake in Publishme. The shares were acquired for Rs 17.2 crore Publishme is a full-service games marketing and publishing agency that works extensively with gaming publishers in Turkey and MENA region.
SBI Cards: CA Rover Holdings sold 3.2 crore shares at 1021.25/share. Societe Generale Bought 85.06 Lakh Shares at 1021/share.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.