Shimao Group’s shares closed over 6% higher on Thursday, despite the adjournment of a winding-up petition hearing to December 16. The petition, filed by China Construction Bank (Asia) for HK$1.58 billion in debts, reflects ongoing financial challenges for the property developer and its efforts to address these issues.
The IPO portion allocated to institutional investors, including foreign investors, banks, and mutual funds, was oversubscribed 19.3 times, showcasing strong interest despite an initially sluggish start.
Last year, Blackstone sold its entire 23.5 percent stake in Embassy Office Parks REIT for around Rs 7,100 crore, with major buyers including Capital Group and ICICI Prudential MF. The latest move to sell 21.8 percent of REIT units is part of Blackstone’s ongoing portfolio rebalancing in the Indian real estate market.
SEBI’s order noted discrepancies in Chaddha’s claims about his income from legal work versus unregistered advisory services, highlighting that he was a student during the period he claimed substantial legal earnings.
Ceigall India's IPO was heavily oversubscribed, with qualified institutional buyers leading the way. Analysts forecast a moderate listing gain, projecting an initial premium of about 5-10 percent over the issue price.
Retail investors have fully subscribed to their allotted quota, while non-institutional and qualified institutional buyers have shown lukewarm interest. The company has raised ₹1,886 crore from anchor investors and plans to use the funds for store expansion, technology, and marketing.
Shanghai Fosun Pharmaceutical has approved the repurchase and cancellation of over 1 million restricted shares for approximately 22.8 million yuan. The move will reduce the company's issued share capital to 2,671,326,465 shares and its registered capital by 1.1 million yuan.
Sula Vineyards, India's largest winemaker, reported a 7% rise in Q1 profit driven by strong demand for its affordable wines. Despite challenges from national elections and heatwaves, revenue grew by over 10%, thanks to a significant boost in the cheaper wine segment.
SEBI's recent directives to eliminate special rights for select shareholders before IPOs aim to ensure equal treatment and transparency for all investors. The regulator has also returned several DRHPs for inadequate disclosures, underscoring its commitment to stringent due diligence and market fairness.
Reliance Industries' domestic production surged by 53.2% year-over-year in FY24, reaching 268.6 billion cubic feet equivalent. Increased output from the KG-D6 block led to a robust EBITDA growth of 48.6% year-over-year, highlighting the company's strong performance despite global economic challenges.
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