The move signals a strong demand from investors.
The Department of Disinvestment has sought comments on a draft note proposing share sales to public.
Bharti Infratel is a provider of telecom towers and related infrastructure and on a consolidated basis, is one of the largest in India, "based on the number of towers that Bharti Infratel owns and operates and the number of towers owned or operated by Indus, that are represented by Bharti Infratel's 42 per cent equity interest in Indus," according to the offer document.
Considering the disvestment mop-up target of Rs 30,000 crore (Rs 300 billion) for financial year 2012-13, the government is thinking of optimising the collection from stake sales in central public sector enterprises (CPSEs).
At least 43 of the 175 issuers would have been hit if proposed mechanism had been in place before the R-Power IPO.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
An e-IPO is a mechanism through which investment in public offerings can be done online without signing any physical documents.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
Securities Transaction Tax (STT) reduced on cash delivery transactions by 20 per cent from 0.125 per cent to 0.1 per cent on cash delivery transactions.
The government on Monday said it will kickstart its ambitious Rs 30,000 crore (Rs 300 billion) divestment programme with stake sale in RINL this month.
In a circular issued on Thursday, Sebi said that the remaining locations would be covered in the second phase by March 1, 2013.
The year may see BSE listing, Sensex @ 25000 and end of gold rally among others.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Apart from his vision, what helped Ratan Tata pursue his global dreams was the phenomenal success of Tata Consultancy Services, which is 74 per cent owned by Tata Sons.
Recently listed companies scored 54, compared to 58 for the BSE100 firms and 61 for entities in the Sensex pack. The report noted that issues remain in IPO companies in which there seems to be a need to institutionalise governance practices.
The company, which has filed its documents with the market regulator, Securities and Exchange Board of India, is also looking to raise up to Rs 50 crore (Rs 500 million) by pre-IPO placement of up to 10 million shares.
If the proposal gets Cabinet clearance, the disinvestment is likely to follow the initial public offering of Rashtriya Ispat Nigam Ltd, for which the prospectus has already been filed with the Securities and Exchange Board of India.
The biggest initial public offer in over 2 year, made by telecom tower company Bharti Infratel, has received total subscription of over Rs 4,365 crore or 1.3 times the issue size on its last day today.
Investors lapped it up a day ahead of its closure.
Vodafone's assessment is that the controversy over the spectrum allocation case is not over.
The DTH industry had been growing at an explosive rate, with 100 per cent increase in customer base and a steady income from customers.
The Securities and Exchange Board of India (Sebi) has withdrawn a major irritant for life insurance companies wanting to hit the capital market with initial public offers.
Only 164 companies or 42 per cent currently trade above the offer price.
Bharti Infratel's Rs 4,500-cr share sale to be the largest since Coal India's in 2010.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
The IPO will be sometime in the first half of next year.
Facebook shares rose $1.94 to close at $25.94 per share.
Indian firms mop up a meagre Rs 63 cr against Rs 247 cr raised in May.
Tara Jewels plans an initial public offer which opens on November 21, 2012.
Manchester United Ltd, which raised $233.2 million on Thursday night, is the largest initial public offering on record for a sports team or club, according to Thomson Reuters data.
In an interview with Santosh Tiwari, Sebi Chairman U K Sinha also says he is not against consent orders, but is in favour of a predictable and transparent process.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
High net worth individuals slowly warm up to US market; however, financial planners generally discourage such dabbling
The Securities and Exchange Board of India (Sebi) says it will mark the current financial year with initiatives to protect investor interest, strengthen the regulatory mechanism and make markets and intermediaries more efficient.
A senior official from the Department of Disinvestment told Business Standard it was decided in a meeting on Thursday that the fresh date for RINL's IPO would be in the third or fourth week of July.
'If one believes that the Indian stock market will go up 70 per cent every year for the next 10 years, I wish you good luck!'
Investors in many Indian companies would have a sense of deja vu after Facebook's public issue turned into a Wall Street debacle. For, over the past five years, Indian markets have been witness to many such breathlessly hyped Initial Public Offers (IPOs) which crashed in an equally spectacular way on the listing day and never recovered.
An investment worth Rs 1,000 in Reliance Industries' initial public offer about 35 years earlier is now worth Rs 778,000, said its chief, Mukesh Ambani, on Thursday.
Motor sport racing company Formula One has delayed its Singapore initial public offer worth up to $3 billion due to weak markets, with the sport's boss and part-owner, Bernie Ecclestone, saying the firm is waiting until the time is right.
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