Sterlite Industries, a non-ferrous metal producer and subsidiary of Vedanta Resources, announced a massive fund raising exercise, with the amount exceeding media reports. The company, with 2008-09 revenues of Rs 21,144 crore or $4.4bn, has said it will raise about $1.5bn with the promoter subscribing to $500mn or about one-third of the issue. The issue will be priced at $12.15 or Rs 583 per ADS. Continue Reading →
India’s initial public offer (IPO) market has evolved over the years, from when the issue price was set by a government body called the Controller of Capital Issues to now where investors bid in a book-built issue to determine the price. Continue Reading →
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Securities Exchange Board of India (Sebi) has amended the public issue guidelines on a few fronts to allow anchor investors in public issues. These are the people who will stick their neck out in an issue to take a big chunk at a predetermined price.
Here are the changes:|