The Securities and Exchange Board of India (SEBI) has cleared Reliance Infratel's draft red herring prospectus for its proposed initial public offering (IPO). Reliance Infratel will offer 10 per cent equity under the proposed IPO.
The Development Credit Bank, an emerging private sector bank in India, would shortly go in for its IPO to raise Rs 300 crore (Rs 3 billion).
Though there has been a drastic fall, both in terms of IPO volume and value so far this year compared to last year, experts say the lull in the primary market is finally over and the markets are showing some signs of recovery. Dealogic further said NHPC's IPO would be the largest in India since Reliance Power's $2.6 billion deal in January 2008, and the third largest IPO in Asia (ex Japan) region so far this year.
OIL, which produces 3.5 million tonnes a year of oil, will offer 2.64 crore equity shares to public in the IPO, while the government will simultaneously sell 10 per cent of its stake in the company to state refiners.
OIL, which produces 3.5 million tonnes a year of oil, will offer 2.64 crore equity shares to public in the IPO, while the government will simultaneously sell 10 per cent of its stake in the company to state refiners.
As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
Insurance regulator IRDA proposes to come out with disclosure norms for initial public offering (IPO) by insurance companies by this month end, its chairman J Hari Narayan said.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
Despite markets turning volatile, share sale activity at India Inc has surged to its highest level in five months. So far in March, promoters, strategic investors and other large shareholders have been able to offload shares worth more than Rs 33,000 crore-the most since November-defying uncertain market conditions. Both the Sensex and the Nifty are on course to post their fourth straight monthly loss amid headwinds, such as interest rate tightening by the US Federal Reserve and the global banking crisis.
Quick Heal Technologies which got listed in February has taken the steepest hit as its shares have slumped 31 per cent against its IPO price.
Financial planners also believe that retail investors should avoid the IPOs or direct stock route because it is too risky for them.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
The Securities and Exchange Board of India made it mandatory to grade all IPOs starting May 1, 2007.
Facebook is appealing the class certifications, which the Menlo Park, California-based company said are "without merit" and conflict with "well-settled" precedent
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
UB Group Chief Vijay Mallya on Tuesday said the Group would raise a total of $400 million over the next one year, which includes an IPO for its aviation business, Kingfisher Airlines.
Life Insurance Corporation of India (LIC) has increased the size of its shareholders' fund to Rs 6,600 crore from Rs 100 crore in a bid to accommodate a larger shareholder base ahead of its public listing. The size of the fund has been enhanced by retaining two years' of dividend and issuing fresh capital, said an official. Increasing the size of the shareholders' fund will help boost the number of shares for allotment in the insurer's initial public offering (IPO). The corpus represents the amount of equity in a company that belongs to its shareholders.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
A look at the performance of the eight IPOs since January 2005, which got listed reveals that the IPO dream may have turned sour for some investors.
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
Near-term prospects hinge on the progress of the second wave of Covid-19. A lockdown will dent prospects as 60 per cent of revenues come from the dine-in segment.
In its draft red herring prospectus, the company had sought to raise Rs 2,200 crore, but sources said the issue size could be raised to Rs 3,000 crore, making it the first big issue after the Reliance Power IPO in February last year.
Foreign portfolio investors' (FPIs') shareholding in NSE-listed companies fell 51 basis points sequentially to 17.68 per cent in the quarter ended March 31, 2024, according to data compiled by PRIME Database. This is the lowest FPI shareholding since December 2012. From the recent peak of 21.21 per cent at the end of December 2020, FPI shareholding is down 353 basis points.
The government said Anil Ambani-promoted Reliance Power IPO did not appear to be overpriced, if the over-subscription to the public issue is taken into consideration. Reliance Power, which raised close to $ 3 billion through an initial public offer earlier this year, was oversubscribed by about 73 times. However, despite an impressive response to the IPO, the stock made a disastrous debut on bourses and dipped below the issue price on the first day itself.
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
Uber's draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India, reports Karan Choudhury.
Mumbai-based software company Paradyne Infotech Ltd is planning to enter the capital market by mid-March with an initial public offering of 3.3 million shares of Rs 10 each at premium of Rs 32.
Multi-Commodity Exchange of India is the only listed bourse in the country
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
