In today’s briefing:
- Kotak Mahindra Bank – US$1.2 Billion Lockup Release
- IREDA IPO Trading – Strong Insti Demand Boosts Overall Subscription Rates
Kotak Mahindra Bank – US$1.2 Billion Lockup Release
- In Jun 2023, CPPIB raised around US$750m via selling a 1.6% stake in Kotak Mahindra Bank (KMB IN). Prior to that it had sold a similar amount in Mar 2022.
- CPPIB will be released from its placement linked lockup early next month.
- In this note, we will talk about the lockup dynamics and past deals performance.
IREDA IPO Trading – Strong Insti Demand Boosts Overall Subscription Rates
- IREDA (1845911D IN) raised around US$258m in its India IPO, after the deal was priced at INR32/share. It will begin trading tomorrow on 29th Nov 2023.
- Indian Renewable Energy Development Authority (IREDA) is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE).
- We have looked at various aspects of the deal in our previous note. In this note, we talk about demand and trading dynamics.
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