For investors who missed the initial IPO frenzy, the market correction is an opportunity to selectively invest in promising names, but patience and careful evaluation remain the key.
Lock up on shares worth nearly Rs 1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note. Most of the shares are held by promoters, strategic investors or pre-listing shareholders in companies that have gone public in recent weeks or months.
'Balancing tunnel developments with ecological realities is a major challenge and, when overlooked, can contribute to mishaps.'
'If you are in a position to give employment to local people, you will find no terror attacks in your area.'
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
It is not just the secondary market that is witnessing a revival in fortunes. Even the initial public offering (IPO) market have roared back to life, with investors submitting bids worth over Rs 2.2 trillion on the three IPOs that wrapped up on Friday. Fashion retailer Vishal Mega Mart (VMM)'s IPO (fifth largest of the year) garnered 27.3x subscription, with bids exceeding Rs 1.6 trillion.
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
A view of the under-construction Chenab bridge above the clouds, in Reasi, Jammu and Kashmir, February 8, 2022.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
The first consortium includes Afcons Infrastructure, IRCON International and JMC Projects, while the second group of companies include NCC, Tata Projects and J. Kumar Infra Projects.
Afcons Infrastructure, whose chartered barge P305 with 261 personnel at the Bombay High offshore oilfield was wrecked by cyclonic storm Tauktae earlier this week, on Thursday said the weather deteriorated rapidly and reached levels far worse than forecasts.
'Once finished, the project will reduce the travel time between Mumbai and Ahmedabad to just over two hours.'
Afcons Infrastructure, whose chartered barge had sunk in the Arabian Sea due to a cyclone this week leaving at least 51 people dead, on Friday said it will provide compensation ranging from Rs 35-75 lakh to the families of the deceased personnel.
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