Reliance shares

Speciality chemicals company Aether Industries Ltd has set a price band of Rs 610-642 a share for initial public offering. Earlier, the firm said its IPO will open on May 24 for subscription and close on May 26. The basis of allotment expected on May 31, credit of shares expected on Jun 2 and the firm may be listed on exchanges on June 3. The IPO consists of a fresh issue of Rs 627 crore and an offer-for-sale of up to 2.82 million shares by its existing shareholders and promoters. On the upper end of the price band, the firm will raise around Rs 801 crore. The proceeds from the issue worth Rs 190 crore will be used to fund proposed greenfield projects in Surat. The firm will also use Rs 138 crore from proceeds to pay debts. The company will use Rs 165 crore for funding working capital requirements. Close HDFC Bank Ltd and Kotak Mahindra Capital Co Ltd are the lead managers to the issue. Aether Industries is a speciality chemicals manufacturer in India … [Read more...] about Aether Industries sets price band at Rs 610-642 a share for its IPO

- A + A KUALA LUMPUR (May 19): Green Packet Bhd has missed the deadline to sell 305.25 million shares of G3 Global Bhd to its former group managing director Puan Chan Cheong for 15 sen per share or RM45.79 million, it said. The shares, which amounted to 12.36% in G3 Global, were converted from G3 warrants at an exercise price of 3 sen apiece or RM9.16 million. Puan, better known as CC Puan, resigned as group managing director of Green Packet, which he founded, on Jan 31, 2022. The stake was initially planned to be sold to CC Puan as the second of three tranches of G3 stake sale under a share sale agreement (SSA) inked between CC Puan and Green Packet in July last year. The deal entailed sales of 612.57 million G3 Global shares for a sum of up to RM91.89 million or 15 sen per share. It included a deadline for Green Packet to convert the warrants and sell the shares to CC Puan within four months from July 5, 2021. As such, Green Packet has re-emerged as a … [Read more...] about Green Packet misses deadline to sell G3 Global shares to former MD

In first trades on listing, shares of the Life Insurance Corporation (LIC) of India traded at Rs 872 against issue price of Rs 949 . At this price, all investors — including policy holders, employees, and retail investors who got shares at a discount of Rs 40-60 per share — lost money. It would appear that someone started buying large quantities of LIC shares thereafter. It reached a high of almost Rs 919 per share. In the first 20 minutes, 20 million LIC shares, about 10 percent of IPO, got traded. Despite a firm market the entire day, LIC remained subdued trading at a near fixed price of Rs 875 for most of the day, and closed at Rs 875.25 . Soon we will know details of who sold and bought during the day. It looks quite likely that a good chunk of policy-holders, employees, and retail investors used this opportunity to exit. Was It Enough? Close LIC’s paid up equity capital is Rs 6,325 crore. The Government of India initially wanted to sell 5 percent of … [Read more...] about LIC | Will shares catch up with its true valuation?

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Investors of Life Insurance Corporation of India (LIC) lost over Rs 50,000 crore on the stock’s debut on May 17. It listed at Rs 867.20 per share, an over 8.5 percent discount to its issue price, after the firm's initial public offering was oversubscribed nearly three times last week. The firm raised around Rs 21,000 crore and was valued at Rs 6.01 trillion at its upper price band of the issue of Rs 949 a share. At close of trade on May 17, the stock settled at Rs 872.70 on the BSE, down 8.04 percent from its issue price, taking its market capitalisation to Rs 5.52 trillion. After opening at Rs 867.20, the stock touched a high and low of Rs 920 and Rs 860.10, respectively. With the listing, policyholders and employees also saw their investments turn negative. LIC had offered a discount of … [Read more...] about Tepid listing of LIC shares leaves investors poorer by over Rs 50,000 crore

Share to Twitter Share to Linkedin After Elon Musk tweeted his $44 billion Twitter takeover was on hold last Friday and the stock fell, the Saudi royal picked up some shares. Less than a week later, he sold the same Twitter shares at a loss. Twitter investor Prince Alwaleed of Saudi Arabia, one of the A-List investors providing Elon Musk with $7.1 billion of equity financing for his $44 billion Twitter takeover, did some interesting trading of the social media company’s stock over the last week. According to an SEC filing late Wednesday, Prince Alwaleed bought 490,000 Twitter shares for a total cost of $20 million last Friday when the stock was trading between $40.70 and $40.76 per share. That was the same day that Elon Musk’s tweet about his $44 billion takeover of the social media company being on hold sent shares spiraling 9.7% from $45.08 per share at Thursday’s close to $40.72 per share at Friday’s close. The price at which Prince Alwaleed … [Read more...] about Twitter Investor Prince Alwaleed Bought More Shares Friday, Dumped Them Wednesday

Share to Twitter Share to Linkedin Eighty-five days into Russia’s wider war on Ukraine, the Kremlin’s aims have shrunk to miles and towns. If there’s an overarching strategic goal in Moscow right now, it’s to surround and destroy the handful of Ukrainian brigades around Severodonetsk, a city with a pre-war population of 100,000 in eastern Ukraine’s Donbas region. Compare that to Russia’s initial goals—to occupy Kyiv, decapitate the Ukrainian government, capture all of Donbas and Ukraine’s Black Sea coast and destroy the Ukrainian armed forces. Three months ago, Moscow planned to smash Ukraine into a leaderless, landlocked and unarmed rump state. Now, Russian leaders might settle for slightly expanding their control in Donbas and possibly eliminating a few Ukrainian brigades. Even that isn’t going well for the Russians. In the last week, Russian forces have captured a few hamlets around Severodonetsk. But the town of Lyman, which anchors … [Read more...] about The Russian Army Has Set Its Sights On A Single Small City In Eastern Ukraine

Ng as seen at the press conference after Tomei’s AGM on Thursday (May 19). (Photo by Chu Juck Seng/The Edge) - A + A KUALA LUMPUR (May 19): Gold and jewellery brand Tomei Consolidated Bhd has recently expanded its retail stores into east coast areas, and is now eyeing to launch a few more stores in locations with less jewellery supply. The group’s managing director Datuk Ng Yih Pyng said the company, which has a total of 57 stores in Malaysia to date, will continue to focus on the good potential of the Malaysian market. “We have opened a retail store in Langkawi in April and also in Mydin Tunjung in Kelantan. We are expecting to open another two or three stores before the end of this year. “In the meantime, we are assessing a few locations that we have yet to confirm,” Ng said at a press conference after Tomei’s annual general meeting (AGM) on Thursday (May 19). Ng said the average cost of opening a new store would be RM5 million. The company’s AGM saw all … [Read more...] about Tomei to expand in underserved locations to improve jewellery sales

- A + A KUALA LUMPUR (May 19): AEON Co (M) Bhd applauded the government's initiatives to remove approved permit (AP) requirement to import foodstuffs into the country, according to its managing director, Shafie Shamsuddin. Speaking at a media briefing after the group's annual general meeting on Thursday (May 19), Shafie said the implementation will certainly help retailers provide better services to customers at a lower cost. "We hope that this AP removal will be able to help us in bringing better quality products, whether it's from Japan or from any other parts of the world," he said. The managing director shared that currently the percentage of imported goods in AEON Co is within single-digit figures and is minimal. On Wednesday (May 18), Prime Minister Datuk Seri Ismail Sabri Yaakob announced that the government had agreed not to impose the AP requirement to import foodstuffs with immediate effect. The premier said this decision was reached at the recent … [Read more...] about AEON Co lauds govt decision to remove AP on food imports

- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run

- A + A (May 19): Grab Holdings Ltd said revenue rose 6% in the first quarter after the ride-hailing and delivery company won back consumers as the pandemic receded in Southeast Asia. Revenue increased to US$228 million after the Singapore-based company added sales from Jaya Grocer, a platform it acquired in January. That was more than the US$139.2 million analysts were expecting, according to data compiled by Bloomberg. Grab’s net loss narrowed to US$435 million, as the company fights to gain profitability following years of heavy spending in pursuit of market share. The company managed to grow paying users 10% to 30.9 million after Southeast Asian countries removed pandemic-era restrictions. Per-user spending climbed 19%, it said. Unlike other Internet companies that are grappling with cooling post-Covid online activity, Grab’s car-hailing and delivery businesses benefit as life returned to normal. The company had struggled since becoming a publicly listed … [Read more...] about Grab revenue rises, loss narrows on delivery, ride demand