updated on 12 Mar 2018
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Three IPO's this week
Three IPO's this week
It was a brutal week for the bulls on Dalal Street as indices Sensex and Nifty shed over 2 percent each last week. Heavy selloff in the banking stocks coupled with weak global sentiments and sustained selling by FIIs roiled the market.
Macro data Macroeconomic numbers such as industrial production data for January and inflation number for February will be disclosed on Monday, March 12. Industrial output grew by 7.1 per cent in December against 2.4 per cent in the year-ago month. The consumer price index (CPI) or retail inflation stood at 5.07 per cent in January 2018, lower from 5.21 per cent in December 2017. Inflation data based on wholesale price index (WPI) for February 2018 will be released on Wednesday, March 14. WPI eased to a six-month low of 2.84 per cent in January on cheaper food articles even as vegetable prices continued to rule high. Four IPOs to hit Street The four back-to-back IPO issues are lined up for the week. The initial public offer of state-owned defence equipment maker Bharat Dynamics (BDL) will open for subscription on March 13 to raise around Rs 960 crore. The price band of the issue has been fixed from Rs 413 to Rs 428 per share. The issue will close on March 15. Kolkata-based Bandhan Bank is slated to launch its issue on March 15 to raise Rs 4,473 crore. The lender has set a price band of Rs 370 to Rs 375 per equity share with face value of Rs 10 each and of the total issue size of 11.92 crore shares. This apart, state-owned Hindustan Aeronautics' Rs 4,200 crore initial public offering (IPO) will open for subscription between March 16 and March 20. Another company, Karda Construction is also slated to come up with its IPO on March 16. The company is expected to raise Rs 77.40 crore.