10:30 am IPO open: The Rs 470 crore public issue of Adlabs
Entertainment has opened for subscription today. The company, which runs an
amusement park - Adlabs Imagica, is going to issue 203.26 lakh equity shares at
a price band of Rs 221-230 apiece. The issue, which will close on March 12,
consists of a fresh issue of 183.26 lakh shares and an offer for sale of 20
lakh shares by Thrill Park. Adlabs, promoted by Manmohan Shetty (the former
promoter of Adlabs Films) and Thrill Park, intends to utilise the net proceeds
(fresh issue money) for partial repayment or pre-payment of the consortium loan
and general corporate purposes. Consortium loan stood at Rs 1,100 crore and the
company will use Rs 330 crore for repayment of this loan.
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seeks Parliament nod for additional Rs 36,953 cr spending
After the deep slaughter on Monday, the market looks little calm today. The
Sensex is down 38.52 points at 28806.26. The Nifty is down 18.55 points at
8738.20. About 1143 shares have advanced, 617 shares declined, and 146 shares
are unchanged.
Coal India, BHEL, Bharti Airtel, M&M and Bajaj Auto are top gainers in
the Sensex. Among the losers are HDFC, Wipro, GAIL, Hindalco and TCS.
The US dollar held near multi-year highs on the yen and euro amid starkly
different outlooks for global interest rates, while Asian investors braced for
more economic news from China.
A lower yen is viewed as positive for exports and corporate profits, and Nikkei futures implied opening gains of around 100 points for the index.
Investors were waiting on Chinese inflation data, where a soft result would
underline the scope for easier monetary and fiscal policies, but might also
aggravate fears of deflation. More information please visit this site www.bigprofitbuzz.com
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