Mumbai: The decks for the maiden Indian Depository Receipt issue of Standard Chartered Plc (StanChart) were cleared with the Indian capital markets regulator on Monday giving its in-principle approval to the issue.
The Securities and Exchange Board of India (Sebi) has sought certain clarifications and StanChart is expected to submit the final draft red herring prospectus in the next few days, an investment banker handling the issue told ‘Mint’.
The bank is expected to hit the market by the end of this month and raise around $750.
RBI to auction 35-day cash management bill
Mumbai: The Reserve Bank of India (RBI) on Monday said it will auction a 35-day cash management bill on Tuesday for a notified amount of Rs6,000 crore on Tuesday.
This is the first auction of such a bill, which was introduced in August 2009 as a short-term instrument to bridge the temporary cash flow mismatches of the government.
In a separate note, the central bank said it will auction on Friday Rs12,000 crore of three different dated securities using a “uniform price-based” auction against its usual practice of “multiple price-based” auction.
Talwalkars shares gain 27.03% on debut
Mumbai: Shares of Talwalkars Better Value Fitness Ltd closed 27.03% above their initial public offer (IPO) price of Rs128 on debut on the Bombay Stock Exchange on Monday.
The stock closed at Rs162.6 after opening at Rs138 and hitting a high of Rs167.7 in intra-day trading. The exchange’s benchmark index, Sensex, closed 3.35% higher at 17,330.55 points.