Band Financial News

MUMBAI : The initial public offering (IPO) of state-owned Indian Renewable Energy Development Agency Ltd (Ireda) opened on Tuesday and attracted investors across categories, reflecting the rising prospects for renewable energy financing in the Indian market. Overall, the IPO was subscribed 1.96 times, with bids received for a total of 921 million shares against the 471 million shares on offer. The response suggests that investors are confident of Ireda’s prospects as India’s largest green financing non-banking financial company (NBFC).

₹177 crore from 23 anchor investors by allocating 58,51,972 equity shares at the price band of ₹304 (including share premium of ₹299 per equity share). “Out of the total allocation 58,51,972 Equity Shares to the Anchor Investors, 27,70,264 Equity Shares (i.e. 47.34% of the total allocation to Anchor Investors) were allocated to 6 domestic mutual fund have applied through a total of 14 schemes," the company informed the exchange houses.

Mark Knopfler revealed that he wants his guitars to explore new adventures with other people as he will be selling more than 120 guitars and amps spanning his five-decade career at an auction next year. Knopfler, who is a prominent name of the Dire Straits which is one of the the biggest bands in the world will be selling his instruments at Christie’s in London in January, with 25% of the proceeds going to charity.

saxophone player Mars Williams has passed away at the age 68. He was known for his work as a member of the Waitresses and later the Psychedelic Furs. Williams' saxophone was a vital component of the Waitresses during their brief but influential two-album run in 1980–1983, as heard on deep cuts with a lot of saxophone, such as the title track of their «Bruiseology» LP, as well as the standout tracks «Christmas Wrapping,» «Square Pegs,» and «I Know What Boys Like.» Williams was approached by the Psychedelic Furs to fill in for their missing regular sax musician during an international tour in 1983, and this request led to a lengthy stint that lasted until 1989.

Flair Writing Industries Ltd, on Tuesday, said it has mopped up Rs 178 crore from anchor investors. The company has allocated 58.52 lakh equity shares to 23 funds at Rs 304 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. Those that participated in the anchor book include — SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Tata MF, ICICI Prudential Life Insurance Company, SBI Life Insurance Company, Troo Capital and Winro Commercial (India) Ltd.

Mark Knopfler, the former frontman of British rock group Dire Straits, announced Tuesday he will sell more than 120 guitars and amps spanning his five-decade career at an auction next year. The sale, at Christie's auctioneers on January 31, will feature the guitar used to record the band's hit song "Money For Nothing" and famously played at the legendary 1985 Live Aid concert in London. "The Mark Knopfler Guitar Collection" sale also comprises an array of guitars he used to write, record and perform Dire Straits' and solo tracks, Christie's said.

₹150 crore from 16 anchor investors on November 21, a day before its initial public offering (IPO) set to open for bidding, at the allocation price of ₹169 per equity share. Around 47.58% of the total allocation of equity shares to anchor investors have been allocated to 3 domestic mutual funds, applied through 7 schemes on Tuesday, which is worth ₹71 crore. Gandhar Oil IPO date of subscription is scheduled for Wednesday, November 22, and will close on Friday, November 24.

₹791 crore from 67 investors via anchor book on Tuesday, November 21, a day before its initial public offering (IPO) opens for bidding. The funds were raised at the upper limit of the ₹475-500 price range. Tata Technologies IPO, which will be the first public offer from Tata Group company in almost 20 years, will open for bidding on November 22 and will close on November 24.

The band on Monday announced dates for its tour in North America. The group, led by core members Mick Jagger, Keith Richards and Ron Wood, will begin their American tour in Houston, Texas, followed by performances in 12 other cities in the country before taking the stage in Vancouver city of Canada.

Tata Technologies on Tuesday raised about Rs 791 crore in the anchor round ahead of the issue opening on Wednesday. The IPO, which closes on November 24, is the first from Tata Group since the debut of TCS. The Board in consultation with book-running lead managers JM Financial, Citigroup Global Markets and BofA Securities finalised the allocation of 1.58 crore shares to anchor investors at Rs 500 apiece. Some of the marquee funds which participated in the anchor round include Fidelity, HSBC, Goldman Sachs, JM Financial MF, Kotak MF, Axis MF, Motilal Oswal, Edelweiss MF, Mirae Asset among others. The IPO was priced in the range of Rs 475-500, where investors can bid for a minimum of 30 shares in one lot. At the upper price band, the issue size is about Rs 3,042 crore. The public offer is entirely an offer for sale (OFS) of 6.08 crore shares, under which, Tata Motors, Alpha TC Holdings and Tata Capital Growth Fund will participate. The weighted average of the cost of acquisition for Tata Motors is Rs 7.40 per share and Rs 25.10 for investors Alpha TC Holdings and Tata Capital Growth Fund I. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Gandhar Oil Refinery Gandhar Oil Refinery shares are commanding a premium of Rs 61 in the unlisted market, according to market analysts. The price band of this public issue is fixed at Rs 160-169. If the trends are sustained, the stock is expected to list at a healthy premium of 36%. The offer comprises a fresh equity issue of Rs 357 crore and an offer for sale (OFS) of Rs 143 crore.

IPO) of Gandhar Oil Refinery will open for subscription on November 22. The issue closes on November 24.

₹329.99 crore, today. Fedbank Financial Services Limited, in consultation with the Book Running Lead Managers (BRLMs), initiated a Pre-IPO placement of 23,571,428 equity shares at the upper end of the price band of ₹140 per equity share, and received board approval, the company said in an exchange filing.

Indian Renewable and Energy Development Agency (IREDA) subscribed 53% in the first two hours on the first day of the bidding process on Tuesday. At 11.53 a.m., the public issue was subscribed 0.53 times, led by retail investors, whose category was subscribed 84%. The issue was subscribed to 51% in the NII category.

Tata Technologies IPO: The initial public offering (IPO) of the Tata Technologies Ltd is going to hit Indian primary market on 22nd November 2023 i.e. on tomorrow. Tata Technologies IPO date of subscription will remain open till 24th November 2023 i.e.

₹2,150 crore through the IPO, consisting of a fresh issue of ₹1,290.13 crore and an offer for sale of ₹860.08 crore. The price band for the offer has been fixed at ₹30–32 per equity share, with a face value of ₹10 each. The net offer will be reserved for qualified institutional buyers at 50% of the total offer size, non-institutional investors at 15%, and retail investors at 35%.

IREDA IPO: The initial public offering (IPO) of Indian Renewable Energy Development Agency (IREDA) has hit Indian primary market today and it will remain open till 23rd November 2023 i.e. Thursday this week. The PSU has fixed IREDA IPO price band at ₹30 to ₹32 per equity share and the book build issue is proposed for listing on BSE and NSE.

ABB India: ABB and Titagarh Rail Systems have formed a strategic partnership to supply propulsion systems for metro rolling stock projects in India. HDFC Life Insurance Company: Karnataka Bank has formed a strategic partnership with HDFC Life Insurance to offer life insurance products to its customers. RateGain Travel Technologies: The company said on November 20 that it has raised over ₹600 crore from qualified institutional buyers (QIBs).

Republicans two seats short of U.S. Senate control are expected to spend tens of millions of dollars on ads attacking Montana Democratic Sen. Jon Tester as a Washington insider tainted by lobbyist cash

From the obsessive record collector to the casual listener

The Telecom Regulatory Authority of India will issue its recommendation on satellite spectrum allocation methodology and other pending matters after the appointment of a regular chairperson, an official source said. The position of Trai chairperson has been vacant since October 1 after the tenure of P D Vaghela ended in September.