Anheuser-Busch InBev: AB InBev sells Australian brewer to Asahi, keeps Asia IPO on radar

BRUSSELS: Anheuser-Busch InBev, the world’s largest brewer, is selling its Australian operations to Japan’s Asahi for $11 billion and could revive the stalled flotation of its Asian business as it looks to cut debt. The Belgium-based brewer, weighed down with debt after its 2016 acquisition of rival SABMiller, said on Friday it had agreed to sell Australian subsidiary Carlton & United Breweries (CUB) at an enterprise value of A$16 billion ($11.3 billion). For Asahi, the deal is its biggest ever and, according to a source close to the negotiations, will…

CPSE ETF: CPSE ETF FFO subscribed 5 times, govt exercises green shoe option to raise Rs 11,500 crore

New Delhi: The Rs 10,000-crore sixth tranche of the CPSE ETF was subscribed over five times on Friday, with institutional and retail investors putting in bids worth Rs 40,000 crore till 5 pm. “The government exercised the green shoe option taking the offer size to Rs 11,500 crore,” tweeted Department of Investment and Public Asset Management (DIPAM) secretary, Atanu Chakraborty. The base issue size of the FFO was Rs 8,000 crore with an option to retain oversubscription of another Rs 2,000 crore. CPSE ETF runs a concentrated portfolio with a…

initial public offering: Home First Finance plans Rs 1,500-crore IPO this fiscal year

Mumbai: Home First Finance Company (HFFC), a Mumbai-based private lender, plans to enter the stock market in FY20 with its Rs 1,500-crore initial share sale, two people aware of the development said. Credit Suisse, Kotak Mahindra Capital and ICICI Securities have been hired to run the sale process. HFFC was set up in 2010 by former Mphasis chairman Jerry Rao and PS Jayakumar, MD & CEO of Bank of Baroda. Home-grown private equity firm True North Capital owns 80 per cent of HFFC. Another 10 per cent stake is held…

Anna Infra IPO: Annai Infra gets Sebi approval to float IPO

Annai Infra Developers, an engineering, procurement and construction firm, has received approval from markets regulator Sebi to float its initial public offer (IPO). The watchdog issued its “observation” letter on Annai Infra Developers’ IPO proposal on July 12, 2019, according to information available on the Sebi website. Sebi’s observations are necessary for any company to launch public issues like initial public offer, follow-on public offer and rights issue. Annai Infra Developers had filed its draft red herring prospectus for the IPO on March 30 this year. The Tamil Nadu-based company’s…

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…