New Delhi : Financial specialists are profoundly excited almost the Dependence Jio IPO and are anticipating it with awesome expectation. After two decades, Dependence Businesses is set to dispatch an IPO for one of its major commerce units. Presently, Mukesh Ambani has given a critical upgrade with respect to this Jio IPO . The draft outline for Jio Stages is anticipated to be recorded following month. This may possibly be the biggest IPO in the country's history. Dependence has designated a consortium of 19 banks to oversee this process. Mukesh Ambani, Chairman of Dependence Businesses, has dropped a major indicate with respect to the exceedingly expected IPO of Jio Stages. Depicting it as a "definitive breakthrough," Ambani signaled that the company is quickly progressing in its arrangements for what is balanced to be India's largest-ever IPO. Talking amid the company's profit discharge, Ambani expressed, "I am satisfied to share that we are making...
Private
sector ICICI Bank on Monday announced a Qualified Institutional Placement for
equity shares. The bank has set a minimum floor price of QIP at Rs 351.36 per
share. The board of ICICI Bank will meet on August 14 to decide the issue price
of QIP. ICICI Bank said in a stock exchange filing, 'The meeting of the Issues
Committee of the Board of Directors of the bank has been held on Friday, 14
August 2020. This meeting has been held to determine the issue price of equity
shares after considering each other.
ICICI
Bank received Rs 3,036 crore in the exchequer in the June quarter after the
sale of 3.96 per cent stake in ICICI Lombard General Insurance and 1.50 per
cent stake in ICICI Prudential Life Insurance. Significantly, HDFC Bank
recently set a floor price of Rs 1,838.94 per share for its QIP issue with an
aim to raise Rs 14,000 crore.
What
is QIB, let's first know about it, QIP or Qualified Institutional Placement is
largely a fundraising tool for the Stock Market's listed companies. QIP is a
process which was introduced by the Securities and Exchange Board of India
(SEBI) so as to enable the stock market's listed companies to raise finance
through the issue of securities for qualified institutional buyers (QIBs).
Earlier,
since raising finance in the domestic market involved a lot of complications,
Indian companies used to raise funds from foreign markets. So to intercept
this SEBI introduced this facility so as to make the raising of funds easier
in the domestic market.
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