Latest Sectors News
Alphonzo Bell's stunning 1928 Bel-Air estate has hit the market with a hefty price tag of $32.5 million. After purchasing the mansion for $5.5 million over a decade ago, the owner has meticulously completed a five-year restoration project. This exquisite Spanish-style residence harmonizes original architectural details with modern luxuries, creating a perfect sanctuary that embodies both historical charm and contemporary elegance. View More
SS Retail has secured Rs 146 crore from anchor investors before its upcoming IPO. Domestic mutual funds were the largest participants in this anchor book allocation. The company will open its initial public offering for subscription on September 16. SS Retail operates as a multi-brand retail chain for electronics and mobile phones. Anand Rathi Advisors and Emkay Global Financial Services are managing the IPO process. View More
SS Retail has raised Rs 146 crore from anchor investors ahead of its IPO, which opens for public subscription on September 16. The company allotted 34.52 lakh shares to anchor investors at Rs 424 per share, the anchor allocation price. The shares have a face value of Rs 10 each. Domestic mutual funds took the biggest share of the anchor book. Out of the total anchor allocation, 28,70,321 equity shares, or 83.13%, were allotted to 11 domestic mutual funds through 19 schemes. Magnum Equity Ex – Top 100 Long Short Fund emerged as the largest anchor investor, receiving 4,12,736 equity shares. This represented 11.95% of the anchor investor portion and was worth Rs 17.50 crore. ICICI Prudential Active Momentum Fund was the second-largest anchor investor, receiving 3,53,780 shares worth about Rs 15 crore. Kotak Mahindra Trustee Co Ltd A/C Kotak Consumption Fund received 2,12,275 shares worth about Rs 9 crore. Other domestic mutual fund schemes that participated in the anchor allocation included Kotak Services Fund, Axis Services Opportunities Fund, WhiteOak Capital ELSS Tax Saver Fund, WhiteOak Capital Multi Cap Fund, WhiteOak Capital Consumption Opportunities Fund, WhiteOak Capital Equity Savings Fund, WhiteOak Capital Balanced Hybrid Fund, WhiteOak Capital Aggressive Hybrid Fund and WhiteOak Capital Balanced Advantage Fund. Motilal Oswal Consumption Fund, Bandhan Midcap Fund, Mirae Asset Great Consumer Fund, Tata India Consumer Fund, Invesco India ELSS Tax Saver Fund, Invesco India Consumption Fund and Aditya Birla Sun Life Special Opportunities Fund also participated in the anchor book. Live Events The company said the anchor book saw participation from several institutional investors, marking an important step ahead of the public issue. SS Retail’s IPO will open for subscription on September 16 and close on September 18. The company is a multi-brand retail chain for mobile phones, accessories and electronics. It operates across five states and focuses mainly on Tier II, Tier III and smaller cities. Anand Rathi Advisors and Emkay Global Financial Services are the book-running lead managers to the issue. KFin Technologies is the registrar. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Airbnb has announced a robust initiative to inject $250 million into stalled housing projects, targeting funding shortfalls in construction-ready developments. The first investment of $6.4 million is earmarked for creating affordable housing in Austin, Texas. Additionally, a $5 million innovation prize will encourage advancements in housing technology, all part of Airbnb's commitment to tackling the persistent housing crisis in the United States. View More
After decades of lying vacant, Pittsburgh’s former steel mill site Hazelwood Green is finally seeing major redevelopment. Since 2022, around 700,000 square feet has been developed or is under construction, including Carnegie Mellon’s robotics centre, Pitt’s BioForge facility, housing, parks and a football field. More technology, retail and housing projects are planned across the 178-acre riverfront site. View More
After decades of lying vacant, Pittsburgh’s former steel mill site Hazelwood Green is finally seeing major redevelopment. Since 2022, around 700,000 square feet has been developed or is under construction, including Carnegie Mellon’s robotics centre, Pitt’s BioForge facility, housing, parks and a football field. More technology, retail and housing projects are planned across the 178-acre riverfront site. View More
After decades of lying vacant, Pittsburgh’s former steel mill site Hazelwood Green is finally seeing major redevelopment. Since 2022, around 700,000 square feet has been developed or is under construction, including Carnegie Mellon’s robotics centre, Pitt’s BioForge facility, housing, parks and a football field. More technology, retail and housing projects are planned across the 178-acre riverfront site. View More
Hero Motors secured Rs 300 crore from anchor investors before its upcoming IPO. The company plans to raise Rs 1,000 crore through a mix of fresh issue and offer for sale. Proceeds will fund debt repayment, capital expenditure, and potential acquisitions. The automotive technology firm designs and manufactures powertrain solutions for various vehicles. Its IPO opens for public subscription on September 16 and closes on September 18. View More
Hero Motors has raised Rs 300 crore from anchor investors ahead of its IPO, which opens for public subscription on September 16. The company allotted 3.57 crore equity shares to anchor investors at Rs 84 per share, the upper end of its IPO price band. Prashant Jain’s 3P India Equity Fund was among the investors that participated in the anchor book. Other marquee investors in the anchor round included ICICI Prudential Life Insurance Company , Edelweiss Life Insurance Company, Societe Generale – ODI and ASAS Global Fund Incorporated VCC Sub Fund. Among equity-oriented schemes, Hero Motors allocated shares to ICICI Prudential Smallcap Fund, Kotak MNC Fund and JM Flexi Cap Fund, among others. Out of the total anchor allocation of 3.57 crore shares, 2.91 crore shares were allocated to seven domestic mutual funds through 16 schemes. The anchor book gives Hero Motors institutional backing before its Rs 1,000 crore IPO opens for subscription. The issue will close on September 18. Hero Motors has fixed the IPO price band at Rs 79-84 per share. Investors can bid for a minimum of 178 shares and in multiples of 178 shares thereafter. At the upper price band, the minimum application size for retail investors works out to Rs 14,952. The IPO is a mix of a fresh issue of up to Rs 600 crore and an offer for sale of up to Rs 400 crore by promoters O P Munjal Holdings and Hero Cycles. Live Events The company plans to use Rs 190 crore from the fresh issue for repayment, prepayment or redemption of certain outstanding borrowings. It will also use Rs 200 crore for capital expenditure, including purchase of equipment for expanding capacity at its Gautam Buddha Nagar facility in Uttar Pradesh. The remaining proceeds will be used for inorganic growth through unidentified acquisitions, strategic initiatives and general corporate purposes. Hero Motors is an automotive technology company that designs, develops, manufactures and supplies powertrain solutions to automotive original equipment manufacturers in the US, Europe, India and the ASEAN region. The company offers powertrain systems for both electric and non-electric vehicles. Its products are used in two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy-duty vehicles and electric vertical take-off and landing categories. Hero Motors caters to global customers including BMW, Ducati, Enviolo, Formula Motorsport, Hummingbird EV and HWA. It also supplies to leading global e-bike makers and other mobility applications such as aerospace. The offer is being made through the book-building route. Not more than 50% of the net offer will be available for qualified institutional buyers, not less than 15% for non-institutional investors and not less than 35% for retail investors. ICICI Securities, DAM Capital Advisors and JM Financial are the book-running lead managers to the issue. KFin Technologies is the registrar. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
