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Long-awaited NSE IPO set to advance; draft papers likely next week
The long-awaited initial public offering (IPO) of the National Stock Exchange (NSE) is set to move a step closer, with the country's largest stock exchange expected to file its preliminary papers with Sebi next week, people aware of the matter said. This comes after NSE's board approved the proposed IPO on February 6, following receipt of Sebi's no-objection certificate (NOC). The public issue will be entirely an offer for sale (OFS), with no fresh issue component. According to people familiar with the development, the draft red herring prospectus (DRHP) is likely to be filed on June 15 or June 16. The exchange has a broad-based shareholder base comprising domestic financial institutions, insurance companies, foreign investors and individual shareholders. Life Insurance Corporation of India (LIC) is the single largest shareholder in NSE, holding a 10.72 per cent stake. State Bank of India (SBI) and its subsidiary, SBI Capital Markets, together own around a 7.5 per cent stake in t
Nomura Asset, Capital Group, others buy 5.3% stake in Premier Energies for Rs 2,291 cr
Global financial institutions and Indian mutual funds have bought a 5.3 percent stake in Premier Energies. The deal involved promoters selling shares worth over Rs 2,291 crore. This investment comes as Premier Energies secured significant orders for solar cells and modules. The company is expanding its manufacturing capacities for cells and modules.
JM Financial Private Equity, family offices invest Rs 150 cr in NG Electro Products
Consumer goods-focused NG Electro Products has secured Rs 150 crore in funding from JM Financial Private Equity and family offices. The capital infusion will fuel expansion of manufacturing capacity, accelerate R&D and product innovation, and bolster quality and compliance infrastructure. This investment aims to strengthen the company's footprint and deepen its product innovation capabilities.
Premier, Waaree Energies shares have limited upside; JM Financial prefers these names instead
The brokerage expects the sector to see capital expenditure over the next five years, as companies build a competitive and integrated solar manufacturing ecosystem in India. This, it believes, will act as a key entry barrier and a differentiator among players.