Some stuff I am reading today morning:
Bad news for senior level IT employees (ET)
LIC makes 8,000 Crore bid in GIC Re IPO (Mint)
IEX IPO faces foreign investor outage (Quint)
IDBI Bank to sell entire stake in NSDL (BS)
Notes from Morningstar Investment Conference (Subramoney)
Holding forever is a bad idea (Amit)
Bull market aphorisms (Pension Partners)
Is Dalio’s Bridgewater a fraud? (Climateer)
Family Office hurdles (Common Sense)
Self tithing (Humble Dollar)
The Indian Energy Exchange IPO is currently going on with it shares being offered in the range of Rs.1,645-Rs.1,650 per share
However, imagine the shock of investors, when they learnt that some of the existing investors in the company sold their shares a few days back in the range of Rs.1,582- Rs.1,617 per share !
According to a corrigendum filed by the company, Aditya Birla PE sold shares worth Rs74.93 crore to SBI Life Insurance Co. Ltd on 6 October, while Multiples PE, on 7 October “entered into letter agreements for transfer” of shares worth Rs28 crore to a clutch of high net-worth individuals.
Aditya Birla PE sold shares at a price of Rs1,582.6, while the Multiples PE has entered the share sale agreements at Rs1,617 per share-from Mint
Why would these PE firms sabotage the success of their own IPO?
Source: DRHP of General Insurance Corporation of India
Some stuff I am reading today morning:
GIC IPO opens today (MC)
Tata’s N Chandra: Well begun is half done (Mobis)
Indian startups raised 3,000 Crores last week (Quint)
Raymond: Singhanias Vs Singhanias (ET)
Should you tender in the Infosys buyback? (FE)
A Natural Gas Exchange is on its way (BS)
How to calculate annualized return (XIRR) from a stock investment (FreeFincal)
House of Saud bows to Putin – Why Crude Oil is headed higher (ATimes)
Thaler changed my life and everyone else’s (Bloomberg)
Interview with UBS: Banker to the Billionaires (Bloomberg)