The number of dematerialised (demat) accounts required to hold shares and other securities in electronic format rose by 3.1 million in April, bringing the total tally to a fresh record of 154.5 million. Since December last year, the new additions have consistently remained above the 3 trillion mark, a sign that the stock markets continue to attract new investors despite a spike in volatility.
Japanese investment giant SoftBank is looking to partially exit from three startups which are aiming at an IPO next year - Ola Electric, Swiggy and First Cry. But its decision will depend on the size of the offer for sale pool in each of the companies. According to sources aware of the strategy, Softbank invested over $850 million collectively in these companies whose value conservatively would go up more than 4.3 times to around $3.7 billion, based on preliminary estimates of their projected valuation when they go public next year.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
As there is a moderation in car sales, dealer stock levels across the entire industry have surged to alarming heights. However, the situation is under control at HMIL.
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.
'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
Around 70 companies have received IPO clearance from markets regulator Sebi, but are waiting for election results.
Domestic mutual funds (MFs) have underpinned demand for most public floats this year, dominated by small- and mid-sized initial public offerings (IPOs). Of the 24 IPOs that have hit the market so far this financial year (2023-24, or FY24), MFs have played the role of 'anchor investors' in 20. They have subscribed to over 40 per cent, or Rs 2,850 crore, worth of shares of the Rs 6,900 crore on offer in the anchor category, according to data provided by PRIME Database, a firm that tracks primary market data.
Foreign portfolio investors (FPIs) pumped in Rs 1.7 trillion into domestic stocks in 2023, one of the highest net inflows ever witnessed during a calendar year, of which 25 per cent went into the direct buying of stocks. Data provided by depository NSDL revealed that Rs 44,950 crore of the total FPI flows last year went into primary issuances. A large portion of the FPI investments through the stock exchange route went into block deals, thereby reducing the actual investments made via direct buying of stocks. Last year saw selldowns or block deals worth Rs 2 trillion.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
Projections suggest online food delivery market should grow to $22 billion by 2025.
In the past few days, many companies, including fashion e-tailer Nykaa, food delivery platform Zomato, logistics and delivery firm Delhivery, insurance discovery platform PolicyBazaar, eyewear retail chain Lenskart, and edtech and online tutoring firm Byju's, have openly spoken about their IPO plans.
Gland Pharma, promoted by China's Fosun, has extended its gains, is up 40 per cent since its listing.
'When the bombing happened in the Taj Mahal hotel in 2008, that was a very sad moment, but he really took care of the people, took care of everybody and that was when you saw some of his best moments.' 'There are some things which we will never forget. That is when the best of a person comes out.'
With the stock market turning choppy, fintech start-up MobiKwik, which had filed a draft red herring prospectus (DRHP) to raise around $250 million through an initial public offering (IPO), is now looking to raise money from the private market. "We will raise private money but we are not in dire need. "The business was profitable for the first time in the December quarter on a top line of around Rs 150 crore and that will be maintained in the March quarter also. We are generating cash," said Upasana Taku, co-founder of MobiKwik.
Life Insurance Corporation (LIC) on Wednesday said markets regulator Sebi has granted an additional 3 years time till May 16, 2027 to comply with the 10 per cent public shareholding norm. Currently, government holding in LIC is 96.50 per cent, while public holding is 3.50 per cent.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
Power generation decelerated 4.7 per cent year-on-year (Y-o-Y) to 155 billion units (BU) in August 2024. This was the first downtrend in many years, albeit on a high base - generation had increased 19 per cent Y-o-Y to 163 billion units (BU) in August 2023. The dip was partly due to excess rainfall, which pared cooling demand and also reduced need for irrigation.
Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600-crore initial public offering (IPO) with the Securities and Exchange Board of India.
Shares of Tata Technologies, an arm of Tata Motors, made a dream stock market debut on Thursday, listing with a huge premium of 140 per cent, against the issue price of Rs 500. The stock of the company which provides engineering and product development digital services listed at Rs 1,199.95, registering a sharp jump of 139.99 per cent from the issue price on the BSE. It further zoomed 180 per cent to Rs 1,400.
Market players said NBFCs and HNIs are recalibrating their plans based on the changing dynamics.
Reviving its IPO plan for the third time, realty major Lodha Developers has filed draft papers with market regulator SEBI for its proposed initial public offering to raise around Rs 2,500 crore, according to sources.
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 8,250 crore through an initial share-sale.
The fee pocketed by investment banks for handling equity share sales stood at $244 million during the first half of calendar year 2024. This was the highest first half figure since 2007, according to LSEG Data & Analytics, a provider of financial markets data. Capital mobilised via equity capital market (ECM) activity jumped 2.5 times to $29.5 billion - the highest-ever semi-annual total in terms of proceeds.
Retail investors may burn their fingers investing in them, especially if the markets correct, experts tell Sanjay Kumar Singh
Hospitality firm OYO is planning to raise up to $1.2 billion (around Rs 8,000 crore) through an initial public offering and is expected to file the draft red herring prospectus with Sebi next week, sources told PTI on Thursday. OYO has appointed investment banks like JPMorgan, Citi and Kotak Mahindra Capital to manage its public issue, they added. Comments from OYO could not be obtained at the time of filing the story. The proposed initial public offer (IPO) plan of the hospitality firm follows the spectacular success of Zomato's IPO that ended with a bumper oversubscription on July 16, and was biggest since March 2020.
2017 saw the highest-ever mobilisation by way of IPOs of close to Rs 700 billion. The momentum is expected to continue this year as well.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
A 2019 investigation of Bombay Dyeing by market regulator Sebi has put a brake on the initial public offering process of sister company Go Air. The Wadia group-owned low cost airline had earlier planned to launch the IPO to raise Rs 3,600 crore by August, but may be forced to postpone it by a month or two as Sebi completes its investigation.
The IPO will be sometime in the first half of next year.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
Companies, which missed out on listing earlier, are giving it another shot but with significantly-reduced issue sizes. In the recent past, companies such as TVS Supply Chain Solutions, Suraj Estate Developers, and ESAF Small Finance Bank have re-filed their draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi). This came after they slashed their issue sizes by 20-60 per cent.
Jefferies, IIFL, and JM Financial - none of which were in the top five last year - have now claimed the top spots in the league tables for equity capital markets (ECM) during the first nine months of calendar year 2023 (CY23), a period characterised by small- and mid-sized transactions. This shift marks a significant change, with these firms outperforming the bulge-bracket investment banks. According to data provided by Refinitiv, Jefferies leads the domestic ECM market, having handled share sales worth $2.3 billion, representing 12.4 per cent of the total volume of $18.4 billion for ECM transactions.
Fintech firm MobiKwik on Monday filed a draft red herring prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (Sebi), for its initial public offering (IPO). According to its DRHP, the company plans to raise Rs 1,900 crore, which includes a fresh issue of Rs 1,500 crore and an offer for sale of Rs 400 crore. The selling shareholders include American Express Travel, Bajaj Finance, Cisco Systems and Sequoia Capital India, besides founder Bipin Preet Singh. MobiKwik is the latest among tech majors wanting to list on stock exchanges. Food delivery start-up Zomato will launch its IPO on Wednesday.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
Insurance giant LIC has fixed the price band at Rs 902-949 per share for the Rs 21,000 crore public offer that is likely to open on May 4, sources said. According to sources, Life Insurance Corporation (LIC) would offer a Rs 60 discount for policyholders and Rs 40 for retail investors and employees.
Markets regulator Securities and Exchange Board of India (Sebi's) measures to curb speculative activity in the Rs 450-trillion-a-day futures and options (F&O) market is not a case of "throwing the baby out with the bathwater," whole-time member (WTM) Ananth Narayan said on Friday. "As a regulator, we are conscious that we must not throw the baby out with the bathwater. "When it comes to frenzied trading in options nearing expiry, however, it is difficult to see any baby in this bathwater," he said while delivering his address at the 21st FICCI Annual Capital Markets Conference.
Under the new model, the surplus distribution in the participating policyholders' fund has been modified to 90:10 in a phased manner, wherein 90 per cent will go to policyholders and 10 per cent to shareholders. Further, 100 per cent of the surplus generated out of the non-participating business will be available for distribution to all shareholders.
