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Embassy may build on Mindspace REIT
Shares of Embassy Office Park REIT, the only listed real estate investment trust so far, will remain in focus, as the second company in that space - Mindspace Business Parks REIT - opens for subscription on Monday and closes on July 29.
The Mindspace REIT comes at a price band of Rs 274-275 a share.
The company plans to raise up to Rs 4,500 crore from the issue: a fresh issue of up to Rs 1,000 crore and an offer for sale of up to Rs 3,500 crore by selling units. The company raised Rs 1,518.74 crore from anchor investors ahead of its public issue. It finalised the allocation of 5,52,27,200 units at Rs 275 per unit to anchor investors, including Capital Income Builder, Cohen & Steers, Fidelity, Nomura, HSBC Global, and the Singapore Government.
Embassy Office Park REIT had launched its Rs 4,750-crore IPO in March 2019. It had priced its IPO at Rs 300 a unit; it is currently ruling at Rs 367.51. If Mindspace attracts a huge response from investors, Embassy REIT will also see some momentum buying from traders and investors.
YES Bank FPO issue shares to hit market
New shares from YES Bank, allotted to subscribers of the recent further public offer (FPO), will hit the market on Monday. At Rs 15,000-crore, this is the largest FPO in the Indian market, surpassing ICICI Bank’s Rs 10,144-crore FPO in 2007,
YES Bank raised Rs 14,272 crore from the public issue: the issue of 909.97-crore shares was subscribed 95 per cent in the July 15-17 FPO; the underwriters subscribed to the rest.
In effect, 847.12 crore public shares will hit the secondary market on Monday.This will put pressure on the already battered YES Bank stock. Meanwhile, the BSE has revised the circuit limit for the stock to 10 per cent from 20 per cent. YES Bank shares closed at Rs 13.65 on the BSE in Friday.
Key results: Kotak Mahindra Bank, BEL, Tech Mahindra, Bharti Infratel, Escorts, Havells India, Marico
Some 50 companies will declare their quarterly results on Monday. Among them are Aptech, Bharat Electronics, Bharti Infratel, Escorts, Fineotex Chemical, Havells India, Hindustan Media, India Cements, Jaiprakash Power Ventures, Kotak Mahindra Bank, Marico, Nippon Life AMC, Pfizer, Tech Mahindra, SMS Life, United Spirits, V-Guard Industries and Vardhman Textiles.
After the results from HDFC Bank (with overall steady performance) and ICICI Bank (better-than-expected operating performance), the focus will be on Kotak Mahindra Bank, particularly on its performance, moratorium numbers, and net interest margin.
Analysts will closely monitor Escorts (financial result numbers), Bharti Infratel (outlook), Marico (FMCG play during the lockdown), Havells India (lockdown impact), Nippon Life AMC (debt funds-related news and AUM figures) and United Spirits (operational performance).
Mohit Industries to delist from BSE?
The board of directors of Mohit Industries will meet on Monday to consider the audited standalone and consolidated financial results of the company for the quarter and financial year ended March 31. Besides, the board will also consider voluntary delisting of shares of the company from the BSE without giving an exit option to shareholders pursuant to regulation 6 and 7 of the SEBl (delisting of equity shares) Regulations 2009 and amendments made thereof.
The stock closed at Rs 4.05 on the NSE and at Rs 4.20 on the BSE. So, if the delisting plan is approved, an arbitrage opportunity will not available.
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