GMR Infrastructure IPO gets good response
Mumbai: The public issue of GMR Infrastructure Ltd was subscribed 1.58 times on the first day of issue. The qualified institutional bidders portion meant for foreign investors was subscribed around three times, according to market sources. Almost 18 institutional bidders bid on the first day. The company has offered 3.81 crore equity shares, of which 60 per cent is for QIBs, 10 per cent for non-institutional investors and the remaining 30 per cent for retail investors. The net offer to public constitutes 11.37 per cent of the fully diluted post issue paid-up capital of the company. The price band for the IPO was fixed at Rs210 - Rs250 and the issue closes on August 4.

The company intends to amass around Rs950 crore based on the top end of the price band. The company will use the amount for investments in various infrastructure special purpose vehicles that are currently in the development stages and repayment of unsecured loans.
Back to News Review index page  

Temasek gets Sebi approval for MF
Mumbai: Lotus India Asset Management (Lotus India AMC), promoted jointly by Singapore firm Temasek's wholly owned subsidiary Fullerton Fund Management (Singapore-based) and Sabre Capital Worldwide, has received the Securities & Exchange Board of India (Sebi) licence to begin mutual fund operations in India.

Tamasek said it had already invested on a scale that will allow it to rapidly build this business towards its objective of Rs25,000 crore of asset under management (AUM) within few years of operations in India. The fund is targeting a presence in the top 100 cities and a distribution footprint that ranks among the top five AMCs in India over the next couple of years.
Back to News Review index page  

MCX signs pact with Euronext for futures
Mumbai: The Multi Commodity Exchange (MCX) has entered into a licensing agreement with Euronext.liffe, a derivatives business of Euronext, to use the latter's futures prices.

The agreement will allow MCX to list domestic mini futures contracts for both robusta coffee and white sugar based on Euronext.liffe futures prices. Both the exchanges will also identifying other areas of potential collaboration.

Euronext.liffe is the derivatives business of Euronext, comprising the Amsterdam, Brussels, LIFFE, Lisbon and Paris derivatives markets. The bourse witnesses business worth over 1,500 billion euros daily and is world's second largest derivatives exchange, by value of transacted business.

The commodities listed on the Euronext.liffe includes cocoa, robusta coffee, white sugar, feed wheat, milling wheat, rapeseed and corn.
Back to News Review index page