After initially cheering the deal, the stock market gave its thumbs-down to Mankind acquiring BSV at the premium valuations of eight times its FY24 revenues and 23 times its estimated ebitda of FY25. The Mankind stock opened 4.5% higher on Friday but closed 3.6% lower. Worries over funding of expensive deal and taking of debt for a debt-free company dragged down the positive sentiment.
Phoenix Overseas IPO opens. Check issue size, price band, GMP and other details
Phoenix Overseas will launch its SME IPO today, aiming to raise Rs 36 crore. The IPO includes fresh equity shares and an offer for sale,