Evening digest: IPO market heats up, 30 companies ready Rs 16,000 crore offers

GN Bureau | August 18, 2015



The IPO space is in the thick of activity as 30 companies line up offers worth more than Rs 16,000 crore to fund their business expansion, meet working capital requirements and make loan repayment. At least 19 of them have already got green light from market regulator Sebi to launch their Initial Public Offers (IPOs), while draft IPO papers of eight firms are "under process". A majority of the companies are mid-sized and are looking to raise between Rs 200 crore to Rs 3,000 crore. So far in 2015, 10 companies have mobilised about Rs 4,700 crore through IPOs, higher than funds raised in the preceding two years.

Finance minister launches mobile wallet app 'Buddy'
Union finance minister Arun Jaitley on Tuesday launched State Bank of India's mobile wallet app - SBI Buddy - in collaboration with Accenture and MasterCard. The State Bank of India (SBI) app will be available in 13 languages. The app will be available to all customers irrespective of the bank the customer is banking with or the card the customer is using. It is available on Google Play Store, at present, and soon will be launched on Apple App Store. The mobile app has features like money transfer to registered and new users, reminders to settle dues, book movies, flights and hotels. It can also be used for transferring additional cash into an account of one's choice free of cost, recharge and pay bills instantly, among other features.

95% employees feel their salaries are below market standards
Salary continues to be the biggest factor when it comes to a professional taking up a new job or leaving an employer, and a majority of employees seem dissatisfied with their current salaries reveals a recent survey conducted by JobBuzz. In a survey by JobBuzz, an employer rating platform powered by TimesJobs, nearly 95% of the respondents felt their salaries were not up to market standards. Only 5% said their salaries matched the market standard.

Second bomb blast in Bangkok, no casualties reported
A bomb was lobbed at a pier in the Thai capital on Tuesday but caused no injuries or damage, a day after a blast outside a crowded Hindu shrine killed 22 people and injured more than 120. Witnesses said an explosive device was hurled from the bridge at Sathorn pier towards a parking lot at 1:20pm local time. The device bounced into the water and exploded there. There were no immediate reports of injuries or damage and the pier remained open.

NIA issues sketches of Pak terrorist Naveed Yakub's accomplices
The National Investigation Agency has issued sketches of two accomplices of Pakistani terrorist Mohammad Naveed Yakub, who was captured after the Udhampur attack, and announced a cash reward of Rs 5 lakh to anyone providing information leading to their arrest on Tuesday. The NIA said it has declared the reward of Rs 5 lakh each for Zarghan alias Mohammed Bhai aged about 38-40 years and Abu Okasha aged about 17-18 years.

President Pranab Mukherjee's wife Suvra passes away
President Pranab Mukherjee’s wife Suvra, who was in a critical condition in a military hospital in the national capital for more than a week, passed away on Tuesday at the age of 74. The First Lady was admitted to the intensive care unit of the Army Research and Referral Hospital on August 7 after she complained of breathlessness and discomfort. Besides her husband, Suvra is survived by two sons Abhijit, a Congress MP, and Indrajit and one daughter Sharmistha, who unsuccessfully contested the Delhi Assembly elections on a Congress ticket.

Sensex ends 47 points down, off 209 points from day's high
Fag-end buying in select blue-chip stocks helped the S&P BSE Sensex erase some of the intraday losses on Tuesday. The 30-pack index fell 46.73 points, or 0.17 per cent, to settle the session at 27,831.54. Still the BSE barometer was down 209 points from its intraday high of 28,040.73. The 50-share Nifty index ended the day at 8466.55, down 10.75 points, or 0.13 per cent. Major European markets were quoting with a negative bias. Britain's FTSE lost over 0.5 per cent, weighed down by a drop in energy and mining stocks as metals and oil prices weakened. France's CAC 40 and German DAX fell over 0.1 per cent each.

During the day, most Asian markets ended in the red. China's Shanghai Composite plummeted 6.15 per cent, or 245.50 points, to end the session at 3,748.16. Japan's Nikkei fell 0.32 per cent, or 65.79 points to settle at 20,554.47. Extending the losses, Hong Kong's Hang Seng ended 1.43 per cent down, or 339.68 points, at 23,474.97.

Security increased around SC premises following bomb threat mail
An anonymous email received by Delhi Police threatened that the supreme court would be attacked with bombs, prompting authorities to step up security at the court complex.The email came a fortnight after supreme court judge Dipak Misra, who was part of the bench that refused to stay the execution of Yakub Memon for his role in the 1993 Mumbai bomb attacks, received a threatening letter at his residence.Security around the supreme court complex on Tilak Marg was immediately beefed up.

The next version of Android now has a name: Marshmallow
Ever since it launched, every major version of Android has had a dessert name. It started off with Android 1.5 Cupcake back in 2009. Nine versions later, we're finally at Android M and now, it has a name: Marshmallow. Android Marshmallow -- officially version 6.0 -- will roll out to supported Android phones later this year, probably in October or November. Some of the new features include direct sharing between Android devices and built-in support for fingerprint sensors.

PACL told to refund $7.5 billion to investors
An appeals tribunal has upheld a decision by the market regulator ordering property developer PACL to return $7.5 billion to investors. PACL had appealed an order from the Securities and Exchange Board of India (SEBI) last year that deemed the company's investment products illegal for not complying with rules on so-called collective investment schemes. In its order, SEBI said PACL was selling fixed-return investment products disguised as land-for-fund schemes. It told the firm to return Rs 491 billion ($7.52 billion) it raised from 58.5 million customers.The Securities Appellate Tribunal, in an order published on Tuesday has upheld the SEBI order.

Seven dead, several others trapped after giant rock boulder hits Manikaran Gurudwara in HP
Seven people have been killed and several others trapped after a giant rock boulder hit the famous gurudwara complex, located on the banks of Parvati river at Manikaran in Kullu district of Himachal Pradesh. The boulder from a nearby mountain smashed a rear portion of the gurudawara. The incident occurred in the afternoon. Officials, however, said the main gurudwara is safe.

Hindi content consumption on internet growing at 94%
Catering to the internet users in tier II and III towns, technology giant Google is now focusing to expand usage of its products like 'Maps' and 'Search' in vernacular languages, especially Hindi.

Hindi content consumption on the web is starting to take off. It has grown 94 per cent year-on-year compared to 19 per cent growth for English content, according to Google India marketing director Sandeep Menon.

Railways unveils new AC coach with CCTV cameras and improved safety features
To provide better amenities to passengers, Railways unveiled a new AC 3-tier coach here with state-of-the-art facilities including CCTV cameras, bio-toilets and improved safety features. While CCTV cameras have been installed at the entrance of the coach on both the sides to strengthen the security system, fire-retardant materials have been used to prevent fire as a safety measure. The AC coach is equipped with wider stainless steel ladder with hand-holds for easy climbing to upper berths.

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