Securities and Exchange Board of India has thrown out a job spinner with its mandatory IPO (initial public offer) grading norms
State-owned telecom giant Bharat Sanchar Nigam Limited has no plans to come out with an initial public offer in the immediate future, a government statement said on Thursday.
Investing in IPOs and selling them at a higher price on listing day has become a surefire method of making money. However, one needs to know smart ways of investing in an IPO.
With more new listings on the bourses trading at a discount to the offer price, retail investors are no longer queuing up for initial public offering applications.
The world's largest mobile operator by revenue has begun the year on a bold note, backing the initial public offer plans of its Indian unit and sources say the ball has already been set rolling.
Adani Enterprises' proposed Rs 20,000 crore (Rs 200 billion) fundraising via fresh issue of equity shares through a public offer would be the fourth biggest by Indian companies, excluding banks and non-banking financial companies.
The Securities and Exchange Board of India has cleared the initial public offering by Indraprastha Gas Ltd, after the market regulator decided to defer implementation of T+6 norms for the book building issues.
Multiple agencies to probe, regulatory crackdown on more companies expected.
Anil Ambani Group firm Reliance Power's IPO on Thursday generated a record demand, with bids pouring in for shares worth Rs 2,34,000 crore ($ 60 billion) an amount that is over three times the money ploughed in by FIIs and mutual funds in the stock market in 2007.
The Bombay Stock Exchange today said 10 companies on its recently launched IPO index to track newly listed companies for the first two years would be excluded after completion of their term.
Even within China, economic slowdown and stiffer competition may hit growth.
Among the changes planned are removal of the Rs 4,000-crore (Rs 40-billion) minimum size criterion and an enhanced quota for the so-called anchor investors.
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
'We want to achieve overall profitability, and then we would go for an IPO.'
Coffee Day Enterprises Ltd is backed by KKR & Co.
In each public issue, 25 per cent of the shares on offer are reserved for the retail investor.
Airline mum on offer plans, sources say it will be looking to raise around Rs 1,000-1,200 crore
Broadcaster Nimbus Communication, which operates sports channel Neo Sports, is in talks with banks to float an initial public offer for nearly Rs 300 crore (Rs 3 billion).
'Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,' says co-founder and CEO Bhavish Aggarwal.
IndiGo has a fleet of 98 aircraft and about 75 of them are on operating lease.
Reliance Power Ltd's public issue has so far generated demand for shares worth more than $179.5 billion (Rs 706,000 crore) as bids continued to pour in on the last day of the Anil Ambani Group firm's IPO.
In their advertisements to attract investors to public offers, companies can be more creative and innovative as long as they are not misleading and contain necessary disclosures of associated risks and other facts, Sebi chief U K Sinha feels.
Stock market investors are betting that a new government led by Modi will be able to cut red tape and revive economic growth
In a bid to boost the dormant primary market, regulator Sebi said it is ready to review the mandatory grading of initial public offers.
Nextbillion Technology (Groww), the venture capital-backed broking platform, has dislodged Zerodha Broking as India's largest brokerage in terms of number of active clients. Groww had 6.63 million active clients at the end of September, as against Zerodha's 6.48 million, ending the latter's long run at the top. AngelOne and RKSV Securities (Upstox) were ranked third and fourth with 4.86 million and 2.19 million active clients, according to data available on the National Stock Exchange (NSE).
Jack Ma, founder of China's e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of $39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange surprised market investors with an abrupt announcement late on Tuesday that it will suspend Ant Group's IPO, as regulators and the public debate the balance between financial innovation and risk control, state run Global Times reported. According to media reports, the Hong Kong exchange followed suit several minutes later.
Ministry of corporate affairs directs Registrar of Companies to conduct quarterly scrutiny
The scrip of the company on Wednesday ended at Rs 695.80, up 2.7 per cent, on BSE, while the benchmark Sensex ended flat at 19,345.70. Just Dial shares had seen a record high of Rs 761.80 on July 9.
Maintaining that collusion between some bankers and brokers led to the multicrore IPO scam, the government on Friday promised action against those found guilty.
The Union government's revenue from securities transaction tax (STT) is on track to exceed its Budget projection for the current fiscal year, with the mop-up already surpassing 50 per cent of the annual estimate. Provisional figures reveal that the Centre has collected approximately Rs 14,000 crore in the first half of this fiscal year up to September, according to a government official. This amount exceeds half of the full-year target of Rs 27,625 crore set for FY24.
Several brokerages lifted their outlooks for the BSE Sensex and companies were queuing to ride the wave of political euphoria
IndiaBulls Power IPO's charged-up performance (the issue was subscribed 21.84 times) earlier this month had only one jarring note: the retail portion of the initial public offer barely scraped through, with a subscription of 1.09 times.
The Securities and Exchange Board of India has charged HDFC Bank with not exercising due diligence, resulting in several demat accounts being opened under fictitious names leading to the IPO scam.
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
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