In the first nine months of 2017, investment banks pocketed Rs 500 crore for helping companies raise Rs 30,853 crore through IPOs.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
The IPO market is set to be bustling next week, with 11 companies like Vishal Mega Mart, TPG Capital-backed Sai Life Sciences and fintech firm One Mobikwik Systems gearing up to launch their initial share sales, collectively aiming to raise nearly Rs 18,500 crore. Other mainboard IPOs to be launched during this period are Inventurus Knowledge Solutions Ltd and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd.
Of the total 199 small and medium enterprises (SMEs) listed this year so far, 22 had an issue size of less than Rs 10 crore, which the Securities and Exchange Board of India (Sebi) will no longer allow in the listed ecosystem after its recent consultation paper. The market regulator on Tuesday proposed an overhaul of the rules governing the initial public offerings (IPOs) of SMEs and corporate governance norms for listed SMEs, following concerns over 'systemic risk' seen in the ecosystem with instances of fund diversion and price manipulation.
'When you try to do something that's not been tried before, nobody likes that.'
'Today, bankers don't want to take risks as the good decisions taken by them were not protected.' 'There is risk involved in all decisions, like businessmen taking risks in their businesses.' 'A banker must have taken a decision when the economic condition was different, and you cannot question him on the basis of the present situation in hindsight.' 'Naturally, this has affected the morale of bankers.'
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings.
Some bankers in the world are really wealthy.
SAIL had offered the bankers -- JP Morgan, Deutsche Bank, SBI Capital, Enam Securities, Kotak Mahindra Capital and HSBC, to manage its FPO.
After being on the defensive for the last two years, global bankers are making their presence felt in Davos.
The State Bank has won the prestigious Asian Banker Achievement Award for being the strongest bank in Asia Pacific region, instituted by the Qatar Financial Centre Authority and the Asian Banker magazine.
Temasek is nearing a deal to acquire a 10% per cent stake in Haldiram Snacks Foods, valued at $10 billion.
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
The government on Tuesday appointed C S Setty as chairman of the country's biggest lender State Bank of India (SBI) for a period of three years. Setty, currently senior most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28.
The Securities and Exchange Board of India (Sebi) has intervened in the matter concerning alleged irregularities by Trafiksol ITS Technologies, which had come out with a Rs 45 crore initial public offering (IPO) last month. In an ex-parte order, the market regulator has said it will undertake a detailed examination into the disclosures made by the small and medium enterprise (SME) company in its draft offer document. BSE had halted the listing of Trafiksol, a software provider for traffic systems, amid complaints around use of the issue proceeds and wrongful disclosures.
Bankers concerned over Kingfisher losing licenceKingfisher lenders, including SBI, on Saturday expressed concerns over the airline losing its licence to fly, but said recovery of loans through sale of its assets is the last option."... we are concerned as we have no control on these developments.
Kerala Chief Minister Pinarayi Vijayan on Monday urged various banks to write off the loans availed by landslide victims and survivors in Kerala's Wayanad.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Coal India was listed on November 4, 2010, and its market value today stands at over Rs 2 lakh crore.
Offer Lord Ganesh a wholesome kheer made from almond milk, brown rice and jaggery.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
No respite in sight as not many big deals, initial public offerings in pipeline.
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
Bharatiya Janata Party legislature party leader Devendra Fadnavis was sworn-in as new chief minister of Maharashtra while allies Eknath Shinde and Ajit Pawar took oath as deputy CMs at a grand ceremony in Mumbai on Thursday evening.
After US, it is now Britain which is turning the taps off on perks for the chief executive officers and bankers, with Prime Minister Gordon Brown warning them that time was off on the current culture of "big bonuses"
Chidambaram first met bankers and industrialists in Mumbai to seek ways to revive slowing economic growth.
In a bid to ease compliance towards companies planning public offers (IPOs), the Securities and Exchange Board of India (Sebi) has notified norms that open more avenues to meet the minimum promoters' contribution (MPC). The market regulator has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in the case of a shortfall without being identified as a promoter.
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
HDFC Bank has been awarded 'The Asian Banker Excellence in Retail Banking Risk Management Award' in India for 2004 in recognition of its risk management abilities.
While listing can be good, success depends on sentiment and performance.
Emily In Paris Season 4 offers more drama, high fashion, scandal and chaos to keep you entertained, observes Divya Nair.
Rather, the existing ones should be implemented speedily to clean up the mess.
The comments come within a month of the arrest of seven people, including the chief executive of LIC Housing Finance by the Central Bureau of Investigation in connection with the scandal.
The bank chiefs have also cancelled the customary media conference after the bi-annual policies.
This delicious bowl of coconut milk kheer is hard to resist.
