Friday, May 20

Share Market

Merger boost: Inox Leisure zooms 20%, hits record high; PVR jumps 10%
Share Market

Merger boost: Inox Leisure zooms 20%, hits record high; PVR jumps 10%

Shares of PVR and Inox Leisure zoomed up to 20 percent on the BSE in Monday's intra-day trade after they announced a merger between the two major multiplex owners, in an all-stock amalgamation of Inox with PVR. Shareholders of Inox will receive three shares of PVR in exchange for 10 shares in Inox. In trades so far, Inox Leisure hit a record high of Rs 563.60, zooming 20 percent in intra-day trade. The stock surpassed its previous high of Rs 510.80 touched on February 25, 2020. As of 09:17 am, the stock traded 15 percent higher at Rs 540, as compared to a 0.06 percent decline on the S&P BSE Sensex. PVR, meanwhile, surged 10 percent to Rs 2,010, also its 52-week high on the BSE. The stock trimmed gains mildly and was up 5 percent at Rs 1,925.25 later. It had hit a record high ...
IPO pipeline expected to swell by over Rs 2 trillion in 2022: Report
IPOs, Share Market

IPO pipeline expected to swell by over Rs 2 trillion in 2022: Report

By Administrator_India Capital Sands  After the record-breaking IPO rally with as many as 65 issuers collecting a whopping Rs 1.35 trillion so far this year, the market frenzy is set to continue next year with new issues worth over Rs 2 trillion ($26 billion) in the pipeline, The year 2021 has seen the highest-ever IPO volumes in the country with the volumes surging to $15.3 billion, as against $4.2 billion in 2020. That means the Street saw more IPOs in 2021 than in the year past three years combined, both in the number of listings and amount raised, Kotak Mahindra Capital Company told reporters on Tuesday. And, the IPO frenzy is set to continue next year with $26 billion worth of issues being in the pipeline, the brokerage said. It added that the new issues will be dominated by re...