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Bank of America sold 18 lakh shares of Tilaknagar Industries to Societe Generale via a block deal at Rs 338.65 per share. Both were existing shareholders in the company. This sale slightly reduced BofA's stake in Tilaknagar.
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News and Media
The IPO valuation looks aggressive since the company is approaching the primary market in the initial stage of operations where capital expenditure (capex) is higher to build capacities while the benefit in terms of higher cash flows and profit will flow in subsequent years. Given these factors, the issue looks more suitable for long-term investors with a high risk appetite.
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News and Media
An outbreak of E. coli has infected dozens of people who ate bagged organic carrots, and one person died from the infection.
Category:
News and Media
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