The dull overall scenario in the stock market seems to have hit the initial public offers (IPOs). In a first this year, there are no IPOs lined up for this month.
High-networth individuals and domestic funds from India are eyeing a slice of the much-touted mega IPO of Chinese e-commerce giant Alibaba, which looking to raise an eye-popping $21.1 billion.
Idea Cellular on Wednesday said it is "seriously evaluating" going for an initial public offering in the domestic market as part of efforts to fund its expansion plans, although a decision on the issue is yet to be taken.
Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community. "Currently, there is no plan to extend the timings as Sebi has returned our application as the stock brokers have not given the feedback that Sebi wanted. "So, as of now, the extended time frame (plan) is shelved," NSE MD and CEO Ashishkumar Chauhan said in a post-earnings analysts call.
Out of the 24 IPOs, 20 companies had anchor investors, which collectively subscribed to 31 per cent of the total public issue amount.
Management quality and issue price are key concerns for investors; over 60 per cent of the issues this financial year are trading below issue price.
The new corporate governance norms for listed companies, currently being finalised by the Securities and Exchange Board of India, may also mandate greater disclosures regarding IPOs, sources said.
Online auto classified platform CarTrade Tech on Tuesday said it fixed a price band of Rs 1,585-1,618 a share for its nearly Rs 2,999-crore initial public offer. The initial public offering (IPO) will open for subscription on August 9 and conclude on August 11. The bidding for anchor investors will open on August 6, the company announced. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
Oil India's IPO will open on schedule inspite of the market volatility, stated government sources.
These include Great Eastern Energy Corporation and Shemaroo Entertainment.
The IPO by J Kumar Infra, which closed on Wednesday, managed to scrape through, with the issue getting bids for 2.7 times. This is in sharp contrast to the recent IPOs, which were getting subscribed many times over.
With the Bombay Stock Exchange (BSE) benchmark Sensex racing towards its all-time high, retail and high net worth individual (HNI) investors are flocking towards public issues.
An alternative way is to make the Asba (Applications supported by blocked amount) facility compulsory for retail investors.
More than half of the total number of IPOs listed on BSE and NSE in the last two years are trading below their offer price, with around one-third of them trading at a discount of 40-60 per cent, Parliament was informed on Tuesday.
Torrent Power (up 19.25 per cent) and GVK Power and Infrastructure (up 12.22 per cent) have seen a dramatic rise in the run up to PGCIL issue.
Over three-and-a-half years after receiving draft papers for the proposed IPO of Sahara Prime City Ltd, Sebi has formally closed this file as the company failed to submit clarifications sought by the market regulator.
Gupta's exit comes days after Zomato decided to stop its grocery delivery service from September 17, mainly due to gaps in order fulfilment, leading to poor customer experience.
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
According to sources, BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore (Rs 40-50 billion).
Future Capital IPO was fully subscribed within four hours of its opening. The company is expected to raise Rs 490 crore through the IPO.
In other IPOs, the minimum dilution to the public will be 25 per cent, or Rs 400 crore, whichever is lower.
Investment bankers said retail investors were pulling back, while institutions were being pickier
The global IPO market saw a surge in activity in the last quarter of 2003 and early 2004, and is currently showing signs of a rebound, a new survey said.
Share prices of 17 of the 20 companies, which floated their initial public offers (IPOs) during the period, are now trading below their issue price. Twelve issues were listed below their offer price.
IPO grading will answer questions on the fundamentals of the company
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
In its guidelines for submission of initial public offer applications through a nationwide network of brokers, physically or electronically, market regulator Sebi has made provisions for payment of a commission to such brokers by the IPO-bound companies.
Reserve requirements, mandatory investment in G-secs under Companies Act may slow lending for HNI investment in IPOs.
Bharti Infratel's Rs 4,500-cr share sale to be the largest since Coal India's in 2010.
BSE says all requirements complied with.
According to Thomson Financial, India's IPO volumes totalled $7 billion from 74 issues so far this year, surpassing the previous year's (the whole year) IPO volumes. India now ranks the ninth largest IPO market in the world, capturing 3 per cent of the global market share, up from a mere 1.3 per cent share in the year-ago period.
The initial public offer of Aditya Birla group flagship company Idea Cellular was oversubscribed more than 57 times in the process generating the highest ever demand of Rs 1,21,557 crore
Reliance Communications, whose board on Tuesday approved the proposal for Reliance Infratel IPO, would also consider fund raising through qualified institutional placement basis at an appropriate time.
Tech Mahindra IPO is worth subscribing as it is attractively priced
