Following the Reserve Bank of India's (RBI's) action against Paytm Payments Bank, participants in the fintech ecosystem have turned their attention to giving priority to compliance with regulatory norms. Fintech industry players say the episode will ensure adherence to such measures. Executives Business Standard spoke to said companies should have clarity on their requirements.
Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community. "Currently, there is no plan to extend the timings as Sebi has returned our application as the stock brokers have not given the feedback that Sebi wanted. "So, as of now, the extended time frame (plan) is shelved," NSE MD and CEO Ashishkumar Chauhan said in a post-earnings analysts call.
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.
Going 'long' is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. "With the Nifty50 surging to new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out.
Analysts say large issue sizes and high prices were key reasons for the poor response to IPOs of other public sector insurance entities. The high share price meant small investors did not foresee any listing gain
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
Post-IPO and equity transfer, government shareholding in the company will come down to 78.43 per cent. IOC will hold 4.45 per cent equity stake in the expanded equity base while HPCL and BPCL would hold 2.23 per cent each. Public holding would be 12.66 per cent.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
As it readies for its initial public offering (IPO) later this year, digital payments firm Paytm is honing its strengths to remodel itself from being a payment wallet to becoming a financial services provider, and is working towards narrowing its losses, evident from its most recent Annual Report. Unlike many of its peers, Paytm has started expanding its merchant payment ecosystem. It has realised that though it can take the maximum share of the Unified Payment Interface (UPI) transactions, from a revenue generation point of view it will not have any impact.
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
Financial year 2010-2011 saw high wealth erosion for investors in the IPO market.
The company's market valuation stood at Rs 10,972 crore in morning trade.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
Snapdeal's Kunal Bahl tells team to follow DMart example. Sources close to the company says Snapdeal plans to launch an IPO by 2019.
As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
At present, the sentiment is upbeat, and companies are waiting to come out with their initial public offerings (IPOs) to cash in on the boom.
Eye business expansion, fulfil working capital requirements and making loan repayments
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
India's largest ever public offer to raise up to Rs 15,000 crore (Rs 150 billion) will hit the market by the third week of October.
If companies manage to raise Rs 10,000 crore, this will be the best year for IPOs since FY11.
The IPO of state-owned steel maker RINL is scheduled to hit the markets in the current fiscal, and the Cabinet has already accorded its approval for the stake sale.
Gujarat Fluorochemicals Ltd on Wednesday said its subsidiary Inox Leisure Ltd is considering an entry into the capital markets through an initial public offer of 1.65 crore (16.5 million) equity shares.
A total of 25 companies raised Rs 28,220 crore during the financial year.
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
'The IPO window has been more or less open since the new government in 2014.'
Only 164 companies or 42 per cent currently trade above the offer price.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
Foreign portfolio investors' (FPIs') shareholding in NSE-listed companies fell 51 basis points sequentially to 17.68 per cent in the quarter ended March 31, 2024, according to data compiled by PRIME Database. This is the lowest FPI shareholding since December 2012. From the recent peak of 21.21 per cent at the end of December 2020, FPI shareholding is down 353 basis points.
Buoyed by the success of secondary market, IPO market set to see high action
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
Passenger vehicle sales are expected to experience muted growth in the current financial year.
'It is a worrying trend as we are not seeing too much fresh capital being raised for new projects, plants, expansion or diversification. It's just private equity or venture capital or promoters cashing out.'
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
Investors must exercise discretion to ensure they select an MF scheme based on whether it is a good fit in their investment profile and offers a superior risk-return proposition.
Tata Motors reported a consolidated net profit of Rs 17,483 crore (adjusted for exceptional gains and losses) for Q4FY24, surpassing TCS' consolidated net earnings of Rs 12,434 crore. For the automotive major, this marked a 213.7 per cent year-on-year increase in the bottom line, from Rs 5,573.8 crore a year ago. In contrast, India's biggest IT firm saw a more modest Y-o-Y growth of 9.1 per cent in net profit, from Rs 11,392 crore.
