Business Standard discussed the primary market scenario and changing equations in the IPO market with Enam Group chairman Vallabh Bhanshali. Excerpts:
Squadron Leader Kanwal Deep Mehra's daredevilry during the 1971 War brought down a Pakistani F-86 Sabre. But he had to bail out of his plane, was badly injured. Then a fierce band of armed guerillas evacuated him to safety at great risk to their lives.
'When a soldier becomes a king, he better be a king. He should now just forget the past and move beyond continuity. He should catch the potential of India's moment and play a leader's role,' says Vallabh Bhansali of Enam Group.
Deal with current owner Exide may be signed next week
Reports have suggested Rs 400-650 as the possible IPO price
Telecom to Telekom Malaysia in an attempt to complete the merger, sources involved in the negotiations said, declining to be identified. The group has hired Enam Financial as adviser to the transaction. Investment banking sources said the lawyers from both the parties are now busy structuring the deal so that the acquisition meets all the regulatory norms of the country and the Birlas retain control over Idea Cellular.
The open offer was announced on April 20 by B K Modi group firm Spice Televentures through its merchant banker Enam Securities, and Sebi received the issue for its consideration on the same day. According to Sebi, it issued its necessary observations on the open offer on May 26, thus clearing the way for the open offer.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Lotte Confectionary Company Ltd has announced its open offer to acquire additional 20 per cent stake in Parrys Confectionery Ltd from equity shareholders at Rs 283.25 per share.
Siddhartha's knack for value investment dates back to 1995 when he infused capital in Kshema Technologies, which was acquired by MphasiS. He also took an early exposure in Mindtree way back in 1999. Since 1995, he had invested in more than 15 technology companies including chip-designing firm Ittiam Software, and GlobalEdge Technologies, among others, says Debasis Mohapatra.
'The big elephant in the room is our misguided view about the rupee.' 'India is scared that if our currency appreciates, who will buy from us. But a breakout is inevitable.'
Prabhu-led advisory group also suggests JVs with mining and infra firms.
Radhakishan Damani is the only billionaire to see his wealth grow by around 20% during the lockdown.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
The man who led this journey is 50-year-old Kalanithi Maran, chairman and managing director of the Sun Group.
The elections in two eastern Indian states were keenly observed in Bangladesh for two major contentious issues, writes Prakash Bhandari from Dhaka.
