TOP CORPORATE NEWS - 21 JUN 2016

Mahanagar Gas IPO opens today

Mahanagar Gas Ltd (MGL), India's second biggest CNG retailer, hit the capital markets today to raise around Rs1,040 crore through an initial public offer ( IPO), as per reports.

The company, promoted by state-run GAIL and British Gas Asia Pacific Holdings Pte Ltd, is making an offer for sale of up to 24,694,500 equity shares of Rs10 each.

British Gas and GAIL will sell up to 12,347,250 equity shares each in the IPO. The gas distributor firm has fixed the price band of Rs380-421 for its initial public offer.

The initial share-sale program opened today and will close on June 23.

Yes Bank to raise $ 1 bn via QIP

Yes Bank planned to raise $ 1 billion via QIP and has hired Goldman Sachs to help in raising the fund.

According to the management the QIP could result in 12 to 13.5% stake dilution while the RoE is expected to fall to 16 to 17% post QIP.

FDI norms in defence, aviation, single brand retail

Govt allows Upto 100% FDI in defence sector (without mandatory condition of bringing state of the art technology), applicable for manufacturing

of small arms and ammunitions.

Mphasis-Blackstone deal gets CCI nod

Competition Commission of India (CCI) reportedly cleared private equity major Blackstone's multi-billion dollar deal to buy stake in MphasiS from the promoters of the company. In April this year, Blackstone had entered into a share purchase agreement (SPA) to acquire from the promoters of MphasiS up to 12.71 crore shares representing 60.17% stake in MphasiS at Rs430 per share. Blackstone has also announced an open offer to the public equity shareholders of MphasiS to acquire up to 5.49 crore shares, representing 26% stake at Rs457.54 per share, aggregating to total consideration of Rs2513.18 crore as per the regulation after entering into the SPA.

Quick Heal launches 'Seqrite Services' for its customers

Quick Heal Technologies has announced that it has launched 'Seqrite Services' to offer cyber security consulting and 'Quick Heal Academy' to impart cyber security education programs, globally.

Besides emphasizing on the development of innovative technologies that help in securing information, hardware and networks, Quick Heal has been committed towards creating awareness around the evolving cyber security threats landscape and security measures that help deter these threats.

                                       

Get real time advice for Share Market Tips , Intraday Trading Tips , Share Market Live  , Intraday Equity Tips , Equity tips ,  Stock Trading tips , Free Intraday Tips , Best Accurate Stock Tips , NSE Stock market Tips , Equity Market Tips and all Maket Updates .