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Showing posts with the label Qualified Institutional Placement

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Reliance Jio IPO: India's Biggest IPO Coming Soon? Valuation, ARPU, and Latest News

  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...

Chinese government bank bought stake in ICICI Bank among 'Boycott China'

  There is tension in the country about China. Amid the boycott of Chinese goods and the anti-China environment, the news is that People's Bank of China has bought a stake in ICICI. However, experts say that this does not pose any threat to the national interest.   In March last year, China's central bank increased its investment in HDFC to over 1 per cent. Then there was a lot of ruckus on it. People's Bank of China is among the 357 institutional investors including mutual funds, insurance companies who have recently invested Rs 15,000 crore in ICICI Bank's Qualified Institutional Placement (QIP) offer. ICICI Bank tried to raise money from institutional investors to raise capital and its target was met only last week.   People's Bank of China has invested just Rs 15 crore in ICICI and this investment has come through qualified institutional placements. Other foreign investors include the Government of Singapore, Morgan Investment, Societe Generale, etc. Exp...

Singapore government hikes stake in ICICI Bank | Increased from 2.12% to 13.2%

  The Singapore government has increased its stake in ICICI Bank. The government of Singapore invested Rs 1,662.71 crore in ICICI Bank's Qualified Institutional Placement (QIP) offer. This increased his stake in the bank by 11.08 per cent. The Singapore government previously held 2.12 per cent stake in ICICI Bank at the end of the last quarter, according to BSE data. After the fresh investment, its stake in the bank rose to a total of 13.2 per cent. In the information given to the stock markets, the bank said that over 4.64 crore shares were offered to the Singapore government in QIP, which is equivalent to 11.08 per cent stake of the bank.   The Singapore government was the largest investor in the bank's latest QIP. ICICI Bank has raised about Rs 15,000 crore by allocating shares under QIP. In this offer, the bank issued around 41.9 crore shares at an issue price of Rs 358 per share.   The bank's shares closed at Rs 361.40, down 1.81 per cent on the NSE on Friday...

ICICI Bank announces QIP of equity shares, floor price @ Rs 351.36 per share

  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 Ma...