Real estate, infrastructure, BPOs and telecom are likely to be the major sectors that will be going for fund raising.
The Securities and Exchange Board of India (Sebi) has proposed to put a stop to the practice of certain directors occupying permanent board seats at listed companies. The regulator has suggested that the directorship of any individual serving on the board should be subject to periodic approval from shareholders, at least once in five years. In a discussion paper issued on Tuesday, Sebi said a few promoters enjoyed permanency on the board, giving them an undue advantage, prejudicial to the interests of public shareholders.
Power Finance Corporation Ltd filed its revised prospectus on Monday with market regulator Securities and Exchange Board of India to come out with its initial public offering.
The initial public offering of the Sri Lankan unit of Indian Oil Corp was oversubscribed more than three times. "The IPO raised (Sri Lankan) Rs 359.99 crore (Rs 3.59 billion)," company officials said.
Pipeline leanest since 2004; bankers said to be cautious due to fear of rejection by Sebi.
The average size of IPOs rose by nearly half in 2008 over 2007, though the financial meltdown may have scared away many from the primary capital market, bringing down the number of IPOs to about one-third, the Economic Survey said.
Social networking site Facebook is likely to file an IPO by the first quarter of 2012, with a valuation of over USD 100 billion, a media report said. Facebook is likely to go public by next spring, CNBC quoted people familiar with the matter as saying.
Zubin Mehta, the globally-acclaimed Parsi conductor from Mumbai, music director emeritus of the Israel Philharmonic Orchestra (IPO) and conductor emeritus of the Los Angeles Philharmonic, is all set to flick that baton again in India.
The US Fed interest rate decision, domestic macroeconomic data announcements and ongoing quarterly earnings are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Besides, monthly auto sales numbers and the LIC IPO will also remain in focus, they added. Equity markets will remain closed on Tuesday for Id-Ul-Fitr (Ramzan Id). "The market is likely to kick off this week on a sombre note after a sharp fall in the US market then the focus will shift to the outcome of the US FOMC meeting, which is crucial amid record inflation and growth worries.
The company plans to raise Rs 5,000 crore by selling its shares to public.
Companies such as SAIL, ONGC, IOC and Hindustan Copper are waiting to hit the markets.
State-owned National Thermal Power Corporation said on Monday that it plans to hit the market with an initial public offering of shares representing 5 per cent of its equity by early August.
DLF will use its IPO proceeds in part to acquire land, complete on-going projects and retire debts.
The initial public offering for Power Trading Corporation Ltd has received an overwhelming response with investors putting pledge for 16.5 times the issue size at the end of bidding process on Monday.
Reliance Infratel, the tower business arm of the group's telecom entity Reliance Communications, has allowed the regulatory approval to lapse without coming out with an IPO and is unlikely to revive the process soon. A company spokesperson did not take queries on lapse of the approval period and on whether the company was looking to revive the process by filing a fresh draft IPO prospectus with market regulator Sebi.
The much-awaited public offering of the shares of auto major Maruti Udyog Ltd has cleared another major hurdle with the Securities and Exchange Board of India approving the draft prospectus for the initial public offer.
The sessions court last week began the trial by issuing the process order and then released all the 25 accused present in court on bail. The case will be heard on June 20. All the accused were charged of committing fraud in the initial public offering of the shares of IDFC, which was open for subscription from July 15-July 22 in 2002.
Sebi hopes to allow investors to hold subscription amounts for initial public offerings in their bank accounts until allotment. This is to cut the time between the stock sale and listing. Sebi chief said with the present technology it is possible to earmark the amount in the investor account itself and not have the money actually transferred. He said that there were a host of issues plaguing the IPO market and that it could see some action in the coming months.
Huge volatility in share prices after listing gains causes concern.
Motor sport racing company Formula One has delayed its Singapore initial public offer worth up to $3 billion due to weak markets, with the sport's boss and part-owner, Bernie Ecclestone, saying the firm is waiting until the time is right.
Investors must be aware that there is an element of uncertainty attached to investing in MF IPOs, which they must factor in before making an investment decision.
Moving ahead with its plans to raise funds from the capital market for its fleet acquisition programme, Indian Airlines on Thursday launched the process of appointing advisors for its IPO which is likely to be issued in the next six months.
InterGlobe's IPO is India's biggest since the listing of around $750 million by Bharti Infratel Ltd in December 2012.
Over 250 IPOs are in pipeline to raise a phenomenal Rs 95,000 crore (Rs 950 billion).
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
Market regulator Sebi on Monday notified wide-ranging reforms in IPO market, including a strict vigil on usage of issue proceeds, greater disclosure by companies and their bankers and allotment of a minimum number of shares to retail investors.
Facebook Inc's initial public offering will vastly increase the wealth of its 27-year-old co-founder Mark Zuckerberg, leaving him with over $ 1 billion in cash and stocks worth $17.6 billion.
Ratnagiri Gas and Power Pvt Ltd, the joint venture of state-run GAIL India and NTPC Ltd which owns the 2,150-MW power plant and the adjoining LNG import terminal, plans an IPO to raise Rs 1,000 crore (Rs 10 billion), company Chairman R K Goel told reporters in New Delhi. The Dabhol plant will be fully operational by next month when the third generating unit is commissioned, he said adding that currently, two units were generating about 1,100 MW electricity.
Low-cost airline Air Deccan has appointed three investment banks to advise the company on its initial public offer and a final decision on the matter would be taken in the next couple of months, Capt. G R Gopinath, managing director said in Chennai.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
Currently, Sebi regulations require the bidding period to be completed in a minimum of three working days and a maximum of 10, including the extension given pursuant to a revision in price band by the issuer.
Industry sources peg the IPO figure at $50-80 million (Rs 230-370 crore).
UTV Software Communications has fixed the issue price for its initial public offering at Rs 130 per share.
The government on Monday said it will kickstart its ambitious Rs 30,000 crore (Rs 300 billion) divestment programme with stake sale in RINL this month.
The biggest initial public offer in over 2 year, made by telecom tower company Bharti Infratel, has received total subscription of over Rs 4,365 crore or 1.3 times the issue size on its last day today.
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