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Paytm, India’s biggest IPO in corporate history, is also the biggest listing day loser

New Delhi [India] : Paytm, one of India’s biggest digital payment platforms failed to show its magic on the day of its debut at the stock market as its share crashed 27 per cent. Going by the data, IPOs of companies with issue size above Rs 1,000 crore in the last 15 years, Paytm’s IPO which was the country’s largest-ever in the corporate history, saw the biggest crash on a listing day. Before Paytm, Cafe Coffee Day’s parent company Coffee Day Enterprises’ stock had tumbled the highest (17.6 per cent from its issue price) on its listing day in November 2015. In 2008, Anil Dhirubhai Ambani Group-owned Reliance Power too had started its journey at the stock market with a 17.2 per cent fall from its issue price. Besides Paytm, Coffee Day and Reliance Power, the IPOs list of companies with the issue size of…

Business Markets

Govt approves listing of ECGC through IPO on the stock exchange: Piyush Goyal

New Delhi [India]: Union Minister Piyush Goyal on Wednesday approved the listing of Export Credit Guarantee Corporation of India through an Initial Public offer on the stock exchange.Addressing a press conference, Goyal said, “Government under the leadership of Prime Minister Narendra Modi has undertaken a series of measures to provide a boost to the exports sector. In line with this, the Government has today approved capital infusion of Rs 4,400 crore to ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.) over a period of five years, that is, from FY 2021-2022 to FY 2025- 2026. The approved infusion along with efforts made to suitably synchronize with the listing process of ECGC through the Initial Public Offering will increase the underwriting capacity of ECGC to support more exports.” Cabinet Committee on Economic Affairs (CCEA), in its release, said that ECGC was…

Business Markets

Zomato IPO opens on Wednesday: Check price band, grey market premium and more

Food delivery platform Zomato’s Rs 9,375 crore initial public offering (IPO) – India’s biggest this year – will open on Wednesday amid the buzz of a strong response from global institutional investors. The IPO will be open for subscription till July 16. At Rs 72-76 per share price band, the company aims to raise Rs 9,375 crore through the offer. The company backed by Jack Ma’s Ant Group Co will be among the first from a long list of Indian unicorn startups to launch an IPO. It will also be the first among Indian online food aggregators. The IPO, which will give Zomato a valuation of Rs 64,365 crore, is being touted as the second-biggest since SBI Cards and Payment Services’ Rs 10,341 crore issue in March 2020. It will surpass Indian Railway Finance Corp offering in January. Post-IPO, the valuation of Zomato will be…

Business Markets

GR Infraprojects IPO Allotment Status; Check Your Share

GR Infraprojects IPO allotment status: The initial public offering (IPO) of GR Infraprojects was subscribed 102.58 times over the 81.23 lakh shares that were on offer during the subscription period from July 7-9, 2021. The price band was fixed at Rs 828-837 per share. GR Infraprojects IPO received bids of over 83.33 crore (83,33,04,538) shares against the total issue size of over 81.23 lakh (81,23,594) shares, data available with the National Stock Exchange (NSE) showed. The shares which are to be allocated for the QIBs was subscribed 168.58 times, while those of non institutional investors was subscribed 238.04 times and that of RIIs was subscribed 12.57 times. Separately, shares for the employees’ segment was subscribed 1.37 times, the data showed. The Udaipur-based firm is a leading integrated road engineering, procurement and construction (EPC) company and the IPO comprised of a complete offer for sale (OFS) by promoter and investor…

Business Markets

India Pesticides IPO Allotment Status: Here’s How To Check If You Have Been Allotted The Shares

India Pesticides IPO allotment status: The initial public offering (IPO) of India Pesticides (IPL) was subscribed 29.04 times over the 1.93 crore shares that were on offer during the subscription period from June 23-25, 2021. The price band was fixed at Rs 290-296 per share. India Pesticides IPO received bids of over 56.07 crore (56,07,48,250) shares against the total issue size of over 1.93 crore (1,93,10,345) shares, data available with the National Stock Exchange (NSE) showed. The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 42.95 times, while those of non institutional investors was subscribed 51.88 times and that of retail individual investors (RIIs) was subscribed 11.30 times, the data showed. The Uttar Pradesh-based firm is an R&D-focused agrochemical technical company, which has growing formulations business in herbicides, insecticides and fungicide segments. The funds raised through the IPO will be used towards funding…