HDFC Bank's latest shareholding data showed that the room for foreign investment has fallen just 5 basis points short of the threshold set by Morgan Stanley Capital International (MSCI) to fully include the stock in its indices. Currently, the index provider has applied an adjustment factor of 0.5 since the foreign room is less than 25 per cent. Removal of the adjustment factor will result in inflows of a massive $4.8 billion (Rs 40,000 crore) into HDFC Bank, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
Reliance Power is being touted as India's biggest ever IPO with an estimated size of over $3 billion, surpassing just over $2 billion raised by DLF. This would be the first ever IPO from Anil Ambani group after being carved out from the erstwhile Reliance empire in 2005.
A total of 10 companies collectively managed to garner Rs 6,059 crore (Rs 60.59 billion) through their IPOs during the fiscal year ended March 31, 2013, shows an analysis of data available with the stock exchanges.
The primary markets are finally coming back on track, with the initial public offer (IPO) of state-run lender and electricity distributor Rural Electrification Corporation (REC) getting subscribed within 27 minutes of opening.
