Garners a little over 300,000 retail applications Bharti IPO subscribed 15 per cent on Day One.
Aims for share-sale before US holiday season, 'fiscal cliff' kick in
It intends to exempt the government from making the mandatory open offer to buy an additional 26 per cent from minority shareholders if its stake in a company crosses 25 per cent.
To launch technology infrastructure on Nov 18.
Since 11 months, Sebi has not been able to make these companies deposit the required money in an escrow account.
At least 43 of the 175 issuers would have been hit if proposed mechanism had been in place before the R-Power IPO.
Given the sharp rally in stock prices since September, coupled with robust foreign inflows, share-sale activity by companies is likely to gather pace in the next few weeks.
While the regulator has set up a group to look into trade annulment framework, it is also probing whether there was any breach of regulation at the broker or exchange level.
Worst affected were the countries of euro zone, which saw a loss of $10.9 trn
The government is trying to send a signal it wants to stimulate the economy and the stock market.
Salaries are performance-linked and FY12 was good on both counts; now, persistent inflation and patchy rains show on rural market.
Regulator may relax norms to help companies achieve 25% public float.
With shares of most companies listed this year slipping below their issue prices and two initial public offerings (IPOs) already withdrawn, the scenario has remained challenging for the primary market.
In dollar terms, the Nifty has gained 26.7 per cent in this year, while the Sensex has advanced 25 per cent during the same period.
A more proactive government and some level of fiscal discipline are needed to sustain the current rally, says Suresh Mahadevan, managing director and head of equities, UBS Securities (India).
According to the new takeover guidelines, if they buy 25 per cent or more, they will have to make an open offer for another 26 per cent.
Investment bankers generally laugh all the way to the bank once shares get listed on the bourses, but they may have to hang around a bit longer. The Securities and Exchange Board of India (Sebi) is planning to make the bankers managing an issue responsible for the end-use of issue proceeds.
While listing can be good, success depends on sentiment and performance.
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