SBI Cards IPO: SBI Cards IPO likely to hit Street in early March

The Rs 9,500-crore initial public offering of SBI Cards and Payments Service is likely to be launched in the first week of March, according to bankers to the issue. Market regulator Sebi on Tuesday has given its inprincipal approval to SBI Cards to launch its IPO, they said. The IPO is likely to be priced in a band of Rs 690-700 per share, the bankers said. In the unofficial grey market, SBI shares are being traded at Rs 950-970 per share, about 38 per cent over its likely IPO price.…

goair: GoAir likely to appoint bankers soon for Rs 1,500-cr IPO

Mumbai: GoAir is likely to appoint bankers for its initial public offering this month and the Wadia Group-promoted budget airline is planning to raise about Rs 1,500 crore by end of this year, people familiar with the development told ET. The money would be used “for its expansion plans”, one of the persons said. The airline, which has explored the idea of going public several times before, declined comment. “As a policy, GoAir does not comment on market speculation,” a company spokesperson said. In 2015, Go-Air was keen to launch…

Affle IPO: Many retail investors unable to navigate payments platform, miss out on Affle IPO

Many retail investors missed out on the initial public offer (IPO) of Affle India as their bids were rejected because of their inability to navigate through the recentlyintroduced payment platform. Nearly 14,000 applications of the retail investors in the Affle India public issue made through the Unified Payment Interface (UPI) platform did not go through, said an investment banker. That is 50 per cent of the total UPI applications received from retail investors, they said. UPI is a real-time payment platform that helps transfer funds between two bank accounts instantly…

ipo: After a dry spell, it’s going to rain IPOs in next 1 month

Half a dozen companies are likely to hit the primary market in the next month or so to raise about Rs 10,000 crore, bringing to an end the dry spell in initial public offers (IPOs) that’s prevailed this year. Sterling and Wilson Solar, ASK Investment Managers, Spandana Spoorthy Financial, Affle India, AGS Transact Technologies and Mazagon Dock Shipbuilders among other companies are conducting road shows and planning IPOs by the middle of August, said bankers. Only eight companies held IPOs in the first six months of 2019, raising as much…

Reliance Retail: Reliance Retail hits Rs 2.5 lakh crore m-cap in unofficial market

The listing plans for its retail arm may yet just be on the Reliance Industries drawing board, but investors are already valuing the business way above those of its listed peers. Valuations of Reliance Retail, India’s biggest retailer by revenue, crossed Rs 2.5 lakh crore last week in the unofficial market, or 75 per cent more than the market capitalisation of seven listed rivals put together. Reliance Retail shares, which started trading in the past two weeks in the unlisted market, are currently trading between Rs 475 and Rs 500…