TCNS Clothing Co IPO to open July 18
PANJIM: TCNS Clothing Co Limited, proposes to open its initial public offering of 15,714,038 equity shares on July 18, 2018. The bid/offer period closes on July 20, 2018. The company, the promoter selling shareholders and the Investor Selling Shareholder, in consultation with the BRLMs, may consider participation by Anchor Investors, in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date.
The Price Band for the offer is from Rs 714 to Rs 716 per equity share. Bids can be made for a minimum lot of 20 equity shares and in multiples of 20 equity shares thereafter. The equity shares are proposed to be listed on BSE and NSE.
The Book Running Lead Managers to the offer are Kotak Mahindra Capital Company Limited and Citigroup Global Markets India Private Limited. Karvy Computershare Private Limited is the registrar to the offer.
Srei Equipment Finance's rating upgraded to AA
PANJIM: Srei Equipment Finance Limited, one of India's largest equipment financing institutions, today announced that CARE Ratings has upgraded its rating on the company's Long term Facilities to 'CARE AA' with Stable Outlook enhanced from 'CARE AA-' with Positive Outlook. The rating upgrade factors the overall improvement in the financial risk profile of SEFL marked by significant growth in disbursements in financial 2017-18 (refers to the period April 1 to March 31), improvement in profitability, collection efficiency and asset quality indicators. The rating upgrade also factors in continuous reduction in net non-performing assets ("NPAs")standard restructured assets, assets acquired in satisfaction of debt and repossessed assets as a percentage of networth.
Narvekar elected chairman of Madgaum Urban Co-op Bank
PANJIM: After the resignation of Ramakant S Angle as chairman of the Madgaum Urban Co-op Bank Ltd, the election for the new chairman was held at Head Office of the bank under the supervision of the Asstt Registrar of Co-op Societies, Harishchandra Gawde, recently.
Kishore V Narvekar was elected as the new chairman of the bank. His name was proposed by Rupesh Mahatme and seconded by Amaresh Naik. Kishore V Narvekar is affiliated as director of the bank since 1997.