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The stock was listed at Rs 311, a 7% premium against issue price of Rs 290 per share on the BSE. It was opened at Rs 310 on the National Stock Exchange. LATEST NEWS :  HDFC Standard Life Insurance Company (HDFCSL) made a positive debut by listing at Rs 311, a 7% premium against issue price of Rs 290 per share on the BSE. The stock opened at Rs 310 on the National Stock Exchange (NSE). At 11:36 AM; the stock was trading at Rs 340 on the BSE and NSE, after hitting an intra-day high of Rs 369, up 27% against its issue price. HDFCSL's Rs 8,695 crore initial public offer (IPO) was oversubscribed 4.9 times to its issue size. The issue got strong response from the qualified institutional buyers (QIBs), which saw 16.6 times more demand than shares on offer. Barring the QIB portion, most other categories saw a lukewarm response. The retail portion was subscribed 94%. The high net worth individual (HNI) portion was subscribed 2.3 times, the stock exchange data show...

At 10:05 am; the was trading at Rs 422, a 2% lower against its issue price of Rs 429 per share, after listed at par on the NSE LATEST NEWS  : Mahindra Logistics (MLL) was trading at Rs 422 at 10:05 am,  below its issue price of Rs 429 per share, after making quite debut on the bourses. On the National Stock Exchange (NSE), the stock listed at par of Rs 429, while on the BSE, it opened less than 1% higher at Rs 432. It touched low of Rs 420 on the NSE and of Rs 421 on the BSE. A combined 4.64 million shares changed hands on the NSE and BSE. The initial public offering (IPO) of MLL was oversubscribed over 7.9 times with the reserved portion for qualified institutional buyers (QIBs) was oversubscribed 15.60 times, non-institutional investors 2.04 times and retail investors 6.10 times, the exchange data shows. MLL, a subsidiary of Mahindra & Mahindra, raised Rs 829 crore through the issue, at higher end of price band of Rs 425-429 per share. Out of which...

Valuations are high, but subscribe for the long term, advise analysts LATEST NEWS : HDFC Standard Life Insurance , one of the top three private life insurers in profitability, on Tuesday launched its Rs 8,695-crore initial public offering (IPO), the biggest so far in the country’s life insurance sector. The price band for the offer has been fixed at Rs 275-290 a share. The public issue comprises sale of 191,246,050 equity shares by HDFC, amounting to a 9.55% stake, and up to 108,581,768 shares, or 5.42% holding, by Standard Life Mauritius. While the company raised Rs 2,322 crore from anchor investors on Monday, should you put your money in the offer as a retail investor, especially given that that valuation is on the higher side? ‘Subscribe’, but with a long-term horizon, suggest most analysts. At present, HDFC holds 61.41% and Standard Life 34.86% in HDFC Standard Life, while the remaining shares are owned by employees and PremjiInvest. Here is what broking f...

The stock listed at Rs 296, a 17% premium against its issue price of Rs 252 on the NSE. It was listed at Rs 294 on the BSE. LATEST NEWS :  Reliance Nippon Life Asset Management (RNLAM) made a strong debut on the bourses by listing at a 17% premium against its issue price of Rs 252 on the National Stock Exchange (NSE). The stock listed at Rs 294 on the BSE (the Bombay Stock Exchange). At 10:02 AM; the stock was trading at Rs 282 on the BSE and NSE after hitting a low of Rs 278 post its listing. A combined 16.03 million shares changed hands on the counter on the BSE and NSE so far. The company's Rs 1,540 crore initial public offer (IPO) got a strong demand in all the three investor categories. The IPO was oversubscribed 81.54 times at the close of the bidding, with bids for 3,493 million shares, worth Rs 88,023 crore, data available with the stock exchanges showed. The portion of company’s IPO reserved for non-institutional investors was subscribed 209 times wh...

Mahindra Logistics operates as third-party logistics services provider; price band for IPO fixed at Rs 425-429 per share LATEST NEWS : The Rs 830-crore initial public offering (IPO) of Mahindra Logistics , an arm of Mahindra & Mahindra (M&M), garnered a subscription of 1.32 times on Wednesday, a day before its close. The institutional portion of the IPO was subscribed 76 per cent, while that of non-institutional investor was subscribed 10 per cent. The small investor portion was subscribed 2.2 times. Mahindra Logistics operates as a third-party logistics services provider. The IPO is entirely an offer for sale, with parent M&M and private equity investor Kedaara Capital selling shares worth Rs 415 crore each. After the IPO, the promoter holding in the company will come down from 74.6 per cent to 61.1 per cent. Mahindra Logistics IPO The price band for the IPO was fixed at Rs 425-429 per share. “At the higher end, the issue is priced at a price-to-e...

The issue comprises sale of 1,93,32,346 shares, including offloading of 96,66,173 shares -- amounting to 13.74% stake -- by the parent firm Mahindra and Mahindra Mahindra & Mahindra subsidiary Mahindra Logistics (MLL), which will open its initial public offering on October 31, with a price band of Rs 425-429 per share, will be the first logistics firm to hit the market after the rollout of GST.  The offer will close for subscription on November 2, 2017. The issue comprises sale of 1,93,32,346 shares, including offloading of 96,66,173 shares -- amounting to 13.74% stake -- by the parent firm Mahindra and Mahindra. Normandy Holdings would sell 92,71,180 shares, while Kedaara Capital would offload 3,94,993 scrips. Normandy Holdings is a 100% subsidiary of Kedaara Capital. The minimum bid lot for the offer is 34 equity shares and in multiples of 34 shares thereafter. The book running lead managers to the issue are Kotak Mahindra Capital Company and Axis Capital. ...

Here is a quick compilation of what the leading brokerages suggest LATEST NEWS     :     SBI Life Insurance Company Ltd is the India’s largest private life insurer in terms of new business premium (NBP) generated in each fiscal year since FY10. It has also increased its market share of NBP generated among private life insurers in India, from 15.9% in FY15 to 20% in FY17. Over FY15-17, the company’s NBP increased by 35.5% CAGR, which is the highest among the top five private life insurers (in terms of total premium in FY17) in India. The company's maiden issue opens for subscription today. At the IPO price band of Rs 685-700, the stock is available at P/IEV multiple of 4.2x FY17 (post issue) at the upper end of the price band. Post issue market capitalisation is at around Rs 70,000 crore. So, should you subscribe to the issue? Here's what leading brokerages and research houses suggest. We believe the Indian Life Insurance industry is in a p...

The stock listed at Rs 73.45 on BSE and at Rs 73 on NSE, a 22% premium against IPO price of Rs 60. Shares Housing and Urban Development Corporation (HUDCO) has listed at Rs 73.45, a 22% premium against its initial public offer (IPO) price of Rs 60 on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 73. The discount of Rs 2 per share to the issue price of Rs 60 was offered to retail and eligible employees. At 10:06, the stock was trading at Rs 76.65, after hitting high of Rs 77.80 on BSE post its listing. On the NSE, it high of Rs 77.85 in intra-day trade so far. A combined 84.01 million shares changed hands on the counter on BSE and NSE so far. The IPO of HUDCO saw huge demand from investors and was subscribed nearly 80 times. The portion reserved for qualified institutional buyers (QIBs) was subscribed 55.45 times, non-institutional investors saw a subscription of 330.36 times and retail investor's category was subscribed about 11 times. ...