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.
Foreign investors have injected close to Rs 33,700 crore in domestic equities in this month so far primarily due to interest rate cut in the US and resilience of the Indian market. This also marks the second highest inflow in a month in this year so far, the last one being in March, when Foreign Portfolio Investors (FPIs) infused Rs 35,100 crore, data with the depositories showed. Going ahead, the trend of FPIs buying is likely to continue in the coming days, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
InterGlobe Aviation has already raised Rs 832 crore from anchor investors.
The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore.
The Reserve Bank of India (RBI) has announced a dollar-rupee two-year sell-buy swap auction for $5 billion on March 8, which will suck out rupee liquidity from the system. The swap will be in the nature of a simple sell/buy foreign exchange from the RBI side, in which a bank will buy US dollars from the central bank and simultaneously agree to sell the same amount of US dollars at the end of the swap period. "With a view to elongating the maturity profile of its forward book and smoothen the receivables relating to forward assets, it has been decided to undertake sell/buy swap auction of $5 billion on March 8, 2022," the RBI said in a statement. The auction cut-off will be based on the premium amount in paisa terms up to two decimal points.
Global investment firm Blackstone-sponsored Nexus Select Trust has filed the draft paper with market regulator Sebi to launch India's first public issue of retail REIT to raise around $500 million (about Rs 4,000 crore), sources said. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering about 10 million square feet of area valued at around $3 billion. As per the sources, Nexus Select Trust has on Thursday filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) and is looking to hit the capital market with India's first retail REIT (Real Estate Investment Trust) public issue in the first half of the 2023 calendar year.
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.
BSE, the oldest stock exchange in Asia, aims to raise up to Rs 1,243 crore from the IPO, which has a price band of Rs 805-806 per share.
'IPOs not clicking is cause for worry,' says Sebi chairman.
Unfavourable secondary market conditions aren't a big concern for IPOs by good quality companies.
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.
Historically, it is only the third time funds raised through IPOs has crossed the Rs 10k-crore mark
'I tell young entrepreneurs if you don't have a great idea, if you don't have a good business model, don't think of a start-up.'
The filing of Swiggy's DRHP has led to direct comparisons with Zomato, which is a direct competitor in food delivery and the fast-growing quick-commerce segment where Blinkit (owned by Zomato) faces off against Instamart (and Zepto). In Q-commerce, Flipkart, Amazon, Reliance and Big Basket are all entering the space. All of them have deep pockets, hence competitive intensity will rise going forward.
Private lender Tamilnad Mercantile Bank's (TMB) is planning an Initial Public Offering ( IPO) of about Rs 1,000 crore by November-December 2021. The IPO will involve combination of fresh capital plus sale of existing shares. The shareholders of the unlisted South-based private bank have already given nod for IPO.
Offer size could vary from Rs 1,200 cr to Rs 2,000 cr
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.
'Investors with a long-term investment horizon and the risk appetite for fluctuations in property values may find SM Reits a viable option.'
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.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
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.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
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.
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
The benchmark National Stock Exchange Nifty has rallied 4 per cent, or 750 points, from this month's low to end at 19,732 on week ending November 17. Technical analysts say the market could consolidate around the current levels as it is nearing the resistance zone. "The near-term uptrend status of the market remains intact, but there is a possibility of some more consolidation or minor weakness for the Nifty in the next one to two sessions.
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.
Financial year 2010-2011 saw high wealth erosion for investors in the IPO market.
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.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
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.
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
'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.'
Snapdeal's Kunal Bahl tells team to follow DMart example. Sources close to the company says Snapdeal plans to launch an IPO by 2019.
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.
The company's market valuation stood at Rs 10,972 crore in morning trade.
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.
Eye business expansion, fulfil working capital requirements and making loan repayments
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.
If companies manage to raise Rs 10,000 crore, this will be the best year for IPOs since FY11.
