Indo Rama Synthetics Ltd announces Q2 results

Indo Rama Synthetics (India) Limited, the largest Manufacturer of polyester fibre, yarn & polyester chips in India, today announced its unaudited results for the quarter ended Sept 30, 2017. For the quarter ended Sept 30, 2017, the Company achieved net revenue of Rs.618.01 cr versus Rs.593.44 cr in the previous quarter, an increase of Rs.24.57 cr, over previous quarter. The operational EBIDTA for the quarter was Rs.17.21 cr as compared to Rs.5.75 cr in the corresponding quarter of last year. The Company has reported a net loss of Rs.17.67 cr during the quarter ended Sept 30, 2017 as compared to net loss of Rs.14.69 cr in corresponding quarter, last year.

HDFC Life Insurance IPO Opens For Subscription till Nov 9

HDFC Standard Life Insurance Company (HDFC Life) aims to go public with its IPO, which opened today and will close on 9 November 2017.  HDFC Life issue was subscribed 5% at 11:45 am, as per NSE data.

HDFC Life has expected to garner Rs 8,695.01 crore at the upper end of the price band through its share sale in a 3-day bidding process starting today. The company has set a price band of Rs 275 - 290 for its IPO, in which HDFC will offload 9.52% and Standard Life will do 5.4% each. 

The total number of shares on sale are 29.98 crore with each having a face value of Rs.10. After the IPO, HDFC Life's market cap will range between Rs. 55,247 crore and Rs. 58,260 crore at the lower and upper share price, respectively.  

NSE to auction investment limits for Rs 9,000-cr corporate bonds on Nov 7

Leading bourse National Stock Exchange (NSE) will auction investment limits for overseas investors for the purchase of corporate bonds worth over Rs 9000 crore on Tuesday, Nov 7, 2017.

The auction quota gives overseas investors the right to invest in debt up to the specific limit.  Till Friday, total investment in the corporate debt segment crossed Rs 2,08,804 cr, 95.86% of the total permitted threshold of Rs 2,17,822 crore. As a result, the NSE will conduct an auction for the allocation of unutilized debt limits to the tune of Rs 9,018 cr on Nov 7. 

In an auction conducted in October, investment limits for corporate bonds had attracted bids worth 11,875 cr from FPIs as against 10,502 cr put on offer.