Sources familiar with the developments said the clearance came a few days earlier. While the details of the revised structure were not known, the sources said it would remain an all-stock deal.
RBI has directed the bank to revise the accounting scheme and the deal structure.
"India's GDP is likely to grow at (an) average 12 per cent in nominal terms. Hence, India will be a $2-trillion economy by 2014-15," Enam Securities head-research, Nandan Chakraborty, and economist Sachchidanand Shukla said in a report titled 'India Strategy' released on Monday.
Two top investment banks, Enam Financial Services and JM-Morgan Stanley, have backed out from the high-profile initial public offering by real-estate developer DLF Universal
The bank follows RBI discomfort with quid pro quo pact.
How domestic financial players are re-inventing themselves to get a larger share of the pie.
Bharat Forge and and Motherson Sumi have market caps ahead of Delphi and Vistion in the US.
Past two years have witnessed a churn, mainly in the area of mergers and acquisitions.
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.
Tata Motors, the country's largest automobile company, may tap its vehicle loans to raise funds for working capital and refinancing of loans for Jaguar and Land Rover acquisitions, investors and analysts said.
Experts are of the opinion that market has an appetite for IPOs if the pricing is right. The current fall in the market is a correction process.
'The market should maintain optimism on the back of range-bound oil prices, a robust fiscal balance sheet, a better-than-expected monsoon, and moderating inflation.'
Indian television company NDTV is in advanced stages of negotiations with NBC Universal, a subsidiary of New York Stock Exchange-listed General Electric to sell between 25 and 30 per cent in its UK-based subsidiary NDTV Networks Plc.
'To get a 100 per cent consensus document without any reservation, any bracket, any chair summary is unprecedented in the history of multilateral forums.'
Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
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.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
National Hydroelectric Power Corporation, the central power utility, has shortlisted five merchant banks for its initial public offering likely to hit the market in first quarter of FY08.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
Tata-controlled CMC Ltd has filed a draft prospectus with Securities and Exchange Board of India for its proposed initial public offering to divest Centre's 26.25 per cent stake in the software firm.
There are several positive reasons to invest in the NTPC offering from a three-year perspective.
These investors are not only betting on little-known stocks, but also sectors that the market participants are not paying much heed to. Some of these stocks can be potential multi-baggers, while others may not live up to the expectations of these stock-pickers, says Jash Kriplani.
Petronet LNG Ltd, which completed construction of India's first LNG import terminal at Dahej in Gujarat, announced on Monday that it will float an initial public offering of 26.10 crore
Petronet LNG Ltd will float an initial public offering of 261 million shares, representing 34.8 per cent of the total equity of the company, around mid-February, P Dasgupta, director (finance), PLL, said in New Delhi on Friday.
Power Trading Corporation will enter the capital market next month with its initial public offer to enhance capital by Rs 58.5 crore (Rs 585 million).
Petronet LNG Ltd, which will become India's first LNG importer when Qatari RasGas' cargo lands at its Dahej import terminal in January next, has planned an initial public offering of equity shares in the same month.
Reports suggest state-owned banks have lapped up Rs 40,000 crore, so far, using both bonds and equity instruments. The question, though, is whether there will be a perceptional change for PSB stocks.
Reports have suggested Rs 400-650 as the possible IPO price
The man who led this journey is 50-year-old Kalanithi Maran, chairman and managing director of the Sun Group.
Modi accuses Congress of spreading 'lies, confusion and pessimism'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances