Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
The country's largest private sector life insurer, ICICI Prudential Life, on Wednesday said it will hire 3,000 people in the next two months, debunking reports of any reduction in workforce.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Despite the uncertainties created by rising bond yields and oil prices, fund managers have been proactively deploying fresh flows into the equity market. The cash available with equity fund managers, which has remained lower at around 5 per cent in the past few months, hit a 16-month low of 4.8 per cent in September, shows a Motilal Oswal Financial Services report. Cash holdings in equity schemes had topped 6 per cent in February amid subdued equity market sentiment.
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
'Investors should continue with their SIPs, especially during market corrections.' 'For those looking to start new SIPs, beginning with large-cap funds is a prudent strategy, followed by flexi-cap and value-oriented approaches.'
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Commissions paid to mutual fund distributors (MFDs) increased by over 20 per cent for most large fund houses in 2023-24 (FY24), driven by a sharp market rally and strong inflows. The largest fund house, SBI Mutual Fund (MF), which now manages nearly Rs 10 trillion in assets, paid Rs 2,025 crore to its major distributors - 21 per cent higher than the Rs 1,675 crore payout in 2022-23 (FY23).
Outperforming peers following a crisis in the debt markets is an act that ICICI Prudential Asset Management Company fund manager Manish Banthia has pulled off more than once.
If nominees pass away, distribution is governed by succession laws of insured's religion.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
This product was first introduced by ICICI Prudential Mutual Fund (ICICI Prudential FMP Series 33) and Deutsche Mutual Fund in February. Recently, Birla Sun Life Mutual Fund has also floated a similar fund. The Nifty return, multiplied by the participation ratio (that is pre-decided by the fund) is the final returns. In Aviator, the participation ratio is 140-145 per cent, leading to returns of 43.14-44.5 per cent in our given example.
"Fund houses look at merging schemes where there is a duplicity of content or if the scheme has been underperforming historically," says Aashish Somaiya, head (retail business), ICICI Prudential AMC.
The share of life insurance policies sold by top private insurers in the rural areas declined in the financial year 2023-24 (FY24) compared to previous year. SBI Life, HDFC Life, ICICI Prudential Life Insurance -- the top three players from the private sector-- have seen the share of insurance policies sold in rural areas drop in FY24 as compared to the previous financial year. Max Life Insurance's share of rural policies recorded an increase in FY24.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
ICICI Prudential has tied up with the healthcare service provider to enable investors in its ICICI Prudential Savings Fund use the money seamlessly for medical purpose.
Value mutual funds have witnessed robust investor interest, garnering Rs 22,757 crore in inflows in 2024, nearly double the amount seen in 2023, fueled by impressive returns generated by the segment. This surge reflects a shift in investor focus towards fundamentally strong yet undervalued stocks.
The fall in the equity markets was to put some pressure on the balance sheets of the top five asset management companies (AMCs) in the country. But, two of them have managed to buck the trend, thanks to the rise in their average assets under management (AAUM).
ICICI Prudential AMC has launched the ICICI Prudential Micro Systematic Investment Plan (MSIP) with a minimum investment of just Rs 50 per month.
When it comes to the average assets under management among the top five mutual funds, there has been a shuffle in positions. While Reliance Mutual Fund has been able to maintain the number one position at Rs 700 billion, ICICI Prudential has been pushed to number four from second spot by HDFC Mutual Fund. ICICI Prudential was above HDFC by Rs 73 billion in January-end 2008. But at the end of December, HDFC's assets were up by Rs 48.79 billion over that of ICICI Prudential.
LIC, ICICI Prudential invest Rs 13,000 crore (Rs 130 billion) and Rs 2,000 crore (Rs 20 billion) respectively in the first quarter of FY09.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Private sector market leader ICICI Prudential has reported just a 20 per cent rise in new retail business weighted premiums during March, 2008, and a 40 per cent rise for the quarter ended March 2008. That has dragged down ICICI Prudential's growth for 2007-08 to below 70 per cent. The average for the first 11 months was 80 per cent.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'They are ideal for short-term financial goals like children's education or a down payment for a house.' 'They are also useful for transitional savings, such as during job switches or while starting a business.'
Mutual fund houses have been on an equity buying spree in the past three months as they have invested a net amount of Rs 55,000 crore in them between January and March 2023. The number is more than double the amount deployed in the preceding three months (October to December), signalling improved valuations and favourable economic indicators. The valuations, which had peaked in October 2021, returned to its long-term average in March 2023.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
