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.
Incensed over the "planting of articles" and wrongful advertisements in the run up to a company's public offer, market regulator Sebi on Friday pulled up merchant bankers and said it is considering coming out with revised norms on IPO advertisements.
The Union cabinet had approved Coal India's IPO last month, to divest 10 per cent of the government's stake in the Navratna PSU.
State-run Steel Authority of India on Tuesday said it will file the red herring prospectus in May for its forthcoming follow-on public offer, which is expected to hit the market in the first quarter of the next fiscal.
Indian depository receipts (IDR) are set to get going after a long gestation period of six years with Standard Chartered Bank filing a red herring prospectus to raise up to $750 million.
Last month, the Union Cabinet had cleared the proposal to divest 10 per cent of the government's stake in the world's largest coal miner through an IPO.
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.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
SAIL had offered the bankers -- JP Morgan, Deutsche Bank, SBI Capital, Enam Securities, Kotak Mahindra Capital and HSBC, to manage its FPO.
Infrastructure company Jaypee Infratech Ltd, a part of Jaypee Group, has planned to go public with a Rs 2,600-crore IPO in the next two months. The company has filed the Draft Red Herring Prospectus with the Security Exchange Board of India. Confirming the development, sources close to the development said, "While the price band is yet to be decided, the IPO size is estimated to be around Rs 2,600 crore."
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
India Inc could set a new fund-raising record in 2010. Even before the year starts, companies have lined up equity raising plans of Rs 1,50,000 crore, close to two-and-a-half times of what they raised through share sales this year.
ONGC will file the red herring prospectus for the FPO by February 25, by which time it hopes to have five more independent directors on the company's board to meet the Securities and Exchange Board of India's listing requirement.
The state-run mining giant NMDC on Monday filed the draft prospectus with the market regulator Sebi for its follow-on public offer, through which the government expects to mop up Rs 20,000 crore (Rs 200 billion).
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
Last month saw 30 companies filing their draft red herring prospectuses with the market regulator for initial public offers , a sharp increase from six in August and three in July this year. The Securities and Exchange Board of India received eight filings in September last year, the month the Lehman Brothers meltdown brought the world economy to its knees.
GEECL plans to dilute 10 per cent equity through the public issue. The London-listed company has filed a Draft Red Herring Prospectus with market regulator Securities and Exchange Board of India and is in the final stages of getting necessary approvals.
When markets are topsy-turvy, everyone -- including the companies' management, merchant bankers, retail and institutional investors -- chickens out.
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.
The company plans to sell 92,65,275 equity shares of Rs 10 each for cash at a price to be decided entirely through a book-building process. The issue would constitute 11 per cent of the fully diluted post-issue paid up capital of the company. Club Mahindra Holidays plans to raise Rs 400-450 crore (Rs 4-4.5 billion) from the IPO, sources said.
Muthalik's done for panties what bra-burning did for lingerie sales.
The Delhi High Court has issued notices to Escorts Ltd and chairman Rajan Nanda on a contempt petition filed by his estranged brother Anil Nanda.
Save Women's Sport Australasia, a group opposed to transgender women competing in women's sports, said Hubbard's selection was allowed by "flawed policy from the IOC".
Reliance group adopted a new name, Reliance Infratel, before filing DRHP for its IPO.
Kishore Biyani-promoted Future Capital Holdings has received the regulatory go-ahead from Sebi for its initial public offer, estimated to raise between Rs 400-500 crore (Rs 4-5 billion).
Reliance Power is expected to mop up $3.5 billion (Rs 14,000 crore) from the market, which will be the biggest public float in recent times after public issues by DLF and ICICI.
Making the best of the boom in the stock market, five leading textile companies are set to raise about Rs 1000 crore (Rs 10 billion) through IPOs.
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
A disclosure on its land reserves by the joint venture firm Emaar MGF has sparked off a debate on whether a real estate company with foreign investment can own agricultural land in India. Dubai-based Emaar holds around 41 per cent in the joint venture that is expected to raise Rs 5,000 crore (Rs 50 billion) from an upcoming maiden public issue.
It will be an IPO from the Reliance group after a gap of 13 years.
Search engine Google will invest $1 billion for a 5 per cent stake in Time Warner's AOL Internet unit, strengthening the alliance between the two Internet powerbrokers and creating new hurdles for competitors such as Microsoft.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
Real estate major DLF Universal has withdrawn the draft red herring prospectus for its initial public offer and called off its $3 billion IPO.
Entertainment Network (India) Ltd, a Bennet Coleman and Co promoted company, which operates FM radio channel 'Radio Mirchi' is planning to enter the capital market through an Initial Public Offering.
Chennai-based Zylog Systems, an IT services and product company, plans to enter the capital market with a public issue to part-finance its expansion. The company has filed its draft red herring prospectus.
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