The Adani group has announced a new organisation structure, as it looks to consolidate and grow its airport business. R K Jain, chief executive officer of Mumbai airport, has been made the CEO of the group s airport division. Jain, who was associated with Mumbai International Airport Limited (MIAL) since the company’s inception, will also look after the Mumbai airport slum development project and regulatory issues, the group said in a staff announcement. Jain takes over from Behnad Zandi, who will oversee the non-aeronautical business at the group level. Prakash Tulsiani will replace Jain as the new CEO of Mumbai airport. Tulsiani, who was earlier the CEO of All Cargo Logistics, joined Adani group s airport division a few months ago and was in charge of operations.
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Tatva Chintan Pharma Chem’s GMP rises to 64% as IPO opens
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Synopsis
Most analysts have advised investors to subscribe to the Rs 500 crore initial public offering (IPO). The price band of the issue has been fixed at Rs 1,073-1,083 a share. Bids can be made for a minimum of 13 shares and in multiples thereafter.
iStock
The company is going to list at a PE of 41.62 times with a market-cap of Rs 24,00.47 crore, while its peers – namely Aarti Industries and Navin Fluorine International – trade at PE values of 59.54 times and 73.95 times, respectively.
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NEW DELHI: While the frenzy over Zomato IPO hasn’t died down yet, investors and analysts are upbeat about another issue that will open on Friday and run through Tuesday: Tatva Chintan Pharma Chem.