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The stock listed at Rs 735, a 5% premium against its initial public offer price of Rs 700 per share on the National Stock Exchange. SBI Life Insurance  Company made a quite debut by listing at Rs 735, a 5% premium against its initial public offer (IPO) price of Rs 700 per share on the National Stock Exchange (NSE). At 10:02 AM; the stock was trading at Rs 734 on the NSE. It hit a high of Rs 740 and low of Rs 730 so far. A combined 11.5 million shares exchanged hands on the NSE and BSE. The company’s Rs 8,400 crore IPO was subscribed 3.587 times. The portion meant for qualified institutional buyers (QIBs) was oversubscribed 12.56 times, while that of non-institutional investors received 70% subscriptions and retail investors 85%, data available with the NSE showed. SBI Life is a joint venture between India’s largest lender State Bank of India and BNP Paribas Cardif, the insurance holding company of France. SBI Life Insurance   IPO   is the largest priva...

According to reports, Radio City is ranked No. 1 in terms of number of listeners The initial public offer (IPO) of   Music Broadcast Limited   (MBL) that owns FM radio channel, Radio City, opens today for subscription. The issue consists of equity shares of face value of Rs 10 each for cash at a premium consisting of a fresh issue of up to Rs 400 crore and an offer for sale up to 2,658,518 equity shares. The price band for the offer is fixed from Rs 324 to Rs 333 per equity share. The issue proceeds will be used to repay most of its Rs 300 crore debt, thereby reducing its interest cost and improving the overall cash flow. Last week, Music Broadcast Limited finalised allocation of 44,01,158 equity shares to anchor investors at Rs 333 per equity share, aggregating Rs 146.56 crore. According to reports, Radio City is ranked No. 1 in terms of number of listeners, total 49.6 million listeners across top 23 cities, followed by Entertainment Network India Ltd (ENIL) with 40...

ICICI Prudential Life Insurance lists below issue price ICICI Prudential Life Insurance has listed at Rs 330, 1.2% below its issue price of Rs 334 per share, on the National Stock Exchange (NSE). At 10:01 am, the stock was trading at Rs 331.60, after hitting a high of Rs 333.80 post its listing. ICICI Prudential Life Insurance   has raised Rs 6,057-crore through initial public offer (IPO), become the first insurer to list. The company's public issue was oversubscribed 10.5 times. The quota set aside for qualified institutional buyers was subscribed 11.83 times while for the non-institutional investor category, it was 28.55 times. The retail portion was oversubscribed 1.42 times, the exchange data shows. The insurer is a venture between banking major ICICI Bank and UK's Prudential Corporation Holdings. Singapore's Temasek and PremjiInvest are also the shareholders. At the end of financial year 2016 (FY16), ICICI Prudential was the biggest private sector insur...

IndiGo's Aditya Ghosh gets Rs 21-cr incentive after record profit IndiGo’s President and whole-time Director   Aditya Ghosh   took home Rs 27 crore in salary, including Rs 20.9 crore in one-time incentive for the financial year ended March 31, 2016. India’s most profitable airline was also generous in rewarding its 12,000-plus employees who received an average 42 per cent rise in remuneration in FY16. Ghosh received the incentive “in recognition of his efforts towards the growth and success of the company during the financial year ending March 31, 2016,” the airline said in its annual report. Ghosh earned Rs 27 crore in gross salary and 700,000 shares in stock options in FY16. In FY15, he had received a gross remuneration of Rs 3.7 crore, according to the airline’s initial public offering prospectus.   (more)