Category: IPO

New Delhi: The government is looking to divest up to 25 per cent stake in RailTel Corporation, and is scouting for merchant bankers to manage the listing process. The government will appoint up to three merchant bankers to manage the listing process and has invited bids from them by June 11. The paid up share capital of the Railway PSU stands at Rs 320.93 crore and Profit After Tax for 2017-18 was Rs 156 crore. As on March 31, 2018, RailTel Net worth stood at Rs 1,249 crore. “The Government…

Shares of China-based coffee chain Luckin Coffee (LK)  rose sharply in their trading debut Friday on the Nasdaq Stock Market, well above the initial public offering price of $17. At last check, the stock was jumping 25.1% to $21.27. The first trade for Luckin Coffee was $25. The Xiamen-based company last week filed for an initial public offering of 33 million shares at an expected range of between $15 and $17 a share. Established in 2017 and dubbed the “Starbucks of China,” Luckin is the second-biggest coffee chain in China after…

Shares of hot recent IPO Beyond Meat (BYND)  ended lower Friday afternoon after famed short-seller Andrew Left’s Citron Research slammed the stock in a tweet, calling it “Beyond Stupid.” Citron argued that the company, which makes meat alternatives, deserves to drop some 30% from Thursday’s close to just $65 a share. The stock lost $3.57, or 3.8%, to end the day at $89.35. It traded as low as $85.71 (-7.8%) immediately after Citron’s tweet went live. In the tweet, Citron said Beyond Meat’s market cap now exceeds that of the entire industry, with a “superior…

By Alistair Barr The dismal debuts of Lyft and Uber Technologies sparked hand-wringing and a search for scapegoats. One theory gaining ground centers on the high number of special purpose vehicles that invested in the twin ride-hailing giants when they were private companies. SPVs are often set up to invest in fast-growing startups, especially those like Uber that stay private for many years. Many employees with equity want an exit and won’t wait for an initial public offering, so those vehicles are formed to buy their stock. Uber’s IPO flop…

Shares of recently public tech names have all rallied this week, but the broader trend is that investors are clearly separating out the wheat from the chaff, as TheStreet predicted not long ago. Shares of Uber (UBER) , Lyft (LYFT) , PagerDuty (PD) , Tufin Software Technology (TUFN) , and Zoom Video Communications (ZM) were all higher Wednesday and Thursday, and though Pinterest (PINS)  struggled on Wednesday, it, too, rallied on Thursday. The trend, however, shows a a separation: the big consumer names, Uber, Lyft, have traded down, while the more focused B2B companies —…