Tuesday , 16 October 2018
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ECONOMIC SCAN

CreditAccess Grameen IPO to open on Aug 8

MUMBAI: CreditAccess Grameen Limited proposes to open on August 8, an initial public offering (IPO) of equity shares of face value of Rs10 each for cash at a price per equity share (including a share premium) (offer) comprising a fresh issue of equity shares aggregating up to Rs 6,300 million (fresh Issue) and an offer for sale of up to 11,876,485 equity shares by the promoter, CreditAccess Asia N V (promoter selling shareholder and such offered shares, the ‘offered shares’) (offer for sale). The bid/offer period closes on August 10. The price band for the offer is from Rs 418 to Rs 422 per equity share. Bids can be made for a minimum lot of 35 equity shares and in multiples of 35 equity shares thereafter. The equity shares are proposed to be listed on BSE and NSE.

 

Mahindra’s offering codenamed U321 to be called Marazzo

MUMBAI: Mahindra & Mahindra Ltd (M&M), a part of the US $20.7 billion Mahindra Group, named its eagerly awaited global model, codenamed U321, as Marazzo.  Derived from Basque, a sub-language of Spanish, the word ‘Marazzo’ means shark and is linked to the vehicle’s shark-inspired design. The Mahindra Design Studio and Italian design house Pininfarina have collaborated closely during the design development process. Its shark-inspired design is evident in the streamlined and aerodynamic shape, in the overall silhouette and in the front grille inserts which resemble shark-like teeth and adds to the vehicle’s aggressive stance. The design cues further flow into the tail lamps that are inspired by the tail of a shark. Marazzo is a globally developed product, engineered through a collaboration between Mahindra North America Technical Centre (MNATC) and Mahindra Research Valley (MRV) in Chennai.

 

 

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