The Bombay Stock Exchange's benchmark Sensex is likely to hit the much awaited psychological level of 21,000 this week, driven by the smart Reliance numbers and expectations of robust listing of the Coal India IPO, say analysts.
In the first nine months of 2017, investment banks pocketed Rs 500 crore for helping companies raise Rs 30,853 crore through IPOs.
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.
Indian companies have raised $1 billion so far this year - almost four times what they raised last year.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said. The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources. According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
Unless unique, avoid investing in IPOs.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
The National Stock Exchange's proposed IPO to raise Rs 10,000 crore this year is expected to see the largest ever PE exit, of around Rs 5,000 crore.
Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said. Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.
The company's market valuation stood at Rs 10,972 crore in morning trade.
'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
In a bid to boost the dormant primary market, regulator Sebi said it is ready to review the mandatory grading of initial public offers.
'The IPO window has been more or less open since the new government in 2014.'
In their advertisements to attract investors to public offers, companies can be more creative and innovative as long as they are not misleading and contain necessary disclosures of associated risks and other facts, Sebi chief U K Sinha feels.
According to its DRHP filed in 2010, the company's net worth was just Rs 140 crore. Its total income for the financial year 2009-10 stood at Rs 119 crore and it had a net profit of Rs 16 crore. In sharp contrast, at the end of March 2021, Paytm's networth was Rs 6,535 crore and total income stood at Rs 3,187 crore.
The PSU had earlier this week filed the draft papers for its initial public offering, billed to be India's biggest issue, through which the government expects to raise up to Rs 15,000 crore (Rs 150 billion).
LIC public offer will remain open for subscription even on weekend to enable people to participate in the mega IPO of the state-owned insurer. This is perhaps for the first time the special dispensation is granted to any public offer. The issue period also includes bidding on Saturday, May 7, 2022 and Sunday, May 8, 2022, LIC informed exchanges. Earlier bidding was allowed on May 7 (Saturday) only.
In a setback to initial public offer (IPO)-ready Coal India, the Jharkhand government has rejected a forest clearance for a railway link being planned for evacuation of coal from the North Karanpura coalfield operated by the coal miner.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
The government has amended rules of the Foreign Exchange Management Act (FEMA), paving the way for up to 20 per cent foreign direct investment in the insurance behemoth LIC. The government is planning to dilute its stake in LIC through the the Initial Public Offering (IPO). LIC in February had filed the Draft Red Herring Prospectus (DRHP) before the markets regulator Sebi for the IPO.
Shares of One97 Communications Ltd, Paytm's parent company, on Thursday made a tepid market debut, listing with a discount of over 9 per cent from the issue price of Rs 2,150.
Several brokerages lifted their outlooks for the BSE Sensex and companies were queuing to ride the wave of political euphoria
Coal India wants to organise PAN cards and demat accounts for each of its 400,000 staff ahead of its IPO.
Several stocks cheaper in dollar terms now than in March 2009 when Sensex was below 9,000; FIIs in Coal India IPO stare at losses.
Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges. Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.
Reports have put the IPO pipeline between 19 and 30 issues, of Rs 10,000-20,000 crore or Rs 100-200 billion.
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, expressways power generation & distribution, among others. In ports and airports, the group is the largest player in the private sector. Addressing media from Milan, group chief financial officer Jugeshinder Singh said the company has fixed the price band for the Rs 20,000-crore issue in the range of Rs 3,112-3,276 per share.
Coal India Limited (CIL) proved a virtual gold mine for the government in the year gone by. The spectacular share sale of the world's largest coal miner ahead of Diwali added glitter and spark to the government's fund-raising plans through divestment in key PSUs.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
The government, which on Thursday decided to sell ten per cent stake in NALCO, now contemplates offloading ten per cent stake in the Coal India Limited through initial public offerring.
State-run coal behemoth has left behind the IT bellwether Infosys, power utility NTPC Ltd, the country's largest private lender ICICI Bank, FMCG major ITC and engineering giant L&T to enter into the club of top 10 most valued firms.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It has so far managed to raise only Rs 1,700 crore (Rs 17 billion), by divesting a 5% stake in Steel Authority of India.
Stock markets, which are facing the heat of political uncertainty over the 2G spectrum scam, have come under pressure as investors are pulling out their money to invest in the primary market.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Stock market bellwether Sensex hit an all-time closing high of 20,893-mark on Thursday and analysts are bullish that the index may surpass its life-time peak of 21,206.77 on Friday on the auspicious occasion of Diwali.
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