Diwali fireworks are expected to continue on Dalal Street next week, with four companies collectively seeking to mobilise over Rs 6,600 crore through initial public offerings (IPOs). In terms of the amount raised, this is poised to be the busiest week of calendar year 2023. Tata Technologies (Tata Tech), a subsidiary of Tata Motors, could lead the charge with an IPO projected to be over Rs 2,900 crore. This will mark the first maiden share sale by a Tata Group firm in nearly two decades.
Poor governance, constant interference of promoters, opposition from unions and talks of being an acquisition target seen as main deterrents.
Diversified business conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore. "We may consider further investment, subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9 per cent," M&M said in an exchange notification on Wednesday. Shares of RBL Bank jumped 7.1 per cent to settle at Rs. 238.8 apiece on the BSE on Wednesday, close to their 52-week high of Rs. 242.1.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
The suicides have involved more NEET aspirants than JEE. 'It's a make-or-mar situation.' 'Either you get into a government medical college, where the fee is much lower than in private institutes, or you don't make it.'
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
While the Indian Institute of Technology (IIT) Kanpur may have attracted among the highest donations by an individual (former student and IndiGo Airlines co-founder Rakesh Gangwal) at Rs 100 crore last week, IITs have largely seen such contributions rise over recent years, despite the Covid pandemic. According to Mahesh Panchagnula, dean, Alumni and Corporate Relations, IIT Madras, in the last five years, the premier institute has raised more than Rs 135 crore under the endowment category of education alone. Despite the pandemic, there has been an increasing trend in endowment funding received at IIT Madras, with an average increase of about 20 per cent year-on-year across the last five years.
Post graduate colleges are aggressively tying up with banks to introduce banking courses.
Industry bigwigs and corporate heavyweights have been scurrying to get the best students for themselves. Naturally, salaries are headed north.
the training department in most banks is content with asking branch managers to send employees for drab classroom sessions once a year. The perception about such training is obvious from the fact that most branch managers send the names of employees they can do without.
Indian lenders are unlikely to clear the vertical split of BSE-listed Vedanta Ltd in a hurry, considering that the demerger would reduce the fungibility of cash flows across businesses and increase their volatility, according to analysts. The demerger plan, which would result in six separate listed entities, would require approval from shareholders, lenders and other statutory bodies. "We believe that a separate listing of different businesses would reduce the fungibility of cash flows across businesses and increase the volatility of cash flows.
Hyderabad-based Indian School of Business (ISB) is off to a flying start this season. Citi Group has offered an analyst investment banker's position with so far the highest offer of Rs 40 lakh per annum, followed by a Rs 33-lakh offer by Parthenon Group, a consulting firm.
A release issued by IIT said tremendous rise in aquacultural food production in the last decade in India and the world had compensated the decline in production from capture fisheries with production from aquaculture sector.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
With the Swiss government showing eagerness to help India trace suspected black money hoarders, banks based in Switzerland appear to be losing traction among the wealthy Indian clients and could not get much business commitments during the just-ended WEF summit.
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
Between 1964 and 2001, 35% of IIT graduates moved to America for work or studies. But from 2002 onwards, only 16% have opted for 'one way plane tickets.'
The government is mulling allowing foreign direct investment (FDI) in the country's largest insurer LIC, a move which would help overseas investors take part in the company's proposed mega IPO, sources said. The proposal is under discussion between the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM). "Discussions have been going on for the proposal for the last few weeks. "It would also go for inter-ministerial discussions and would also require Cabinet nod," a source said.
Investment bankers said retail investors were pulling back, while institutions were being pickier
Three Indians are among 40 recipients of Securities and Investment Institute awards, organised by the London Stock Exchange members for those in the investment industry.
The country has come a long way in the process of financial inclusion, Raghuram Rajan said, but "still has a way to go".
More companies are harbouring aspirations to go public, following a sharp market rebound after June's nadir. In August, seven companies expecting to raise a cumulative Rs 10,425 crore filed their draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). The amount they are looking to mop up is the highest since March, when 13 companies filed their DRHPs to raise a combined Rs 19,494 crore, reveals data provided by PRIME Database - a source of comprehensive information on all capital market offerings.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
Flight of high-paying banking jobs to other European cities will hurt the prospects of Indian real estate developers and desis in the hospitality business in the UK, says Kunal Bose.
How will the RBI announcement on loan moratorium work for those with home loans, auto loans, personal loans, consumer durables loan? Here's what experts have to say.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Despite its admirable competence and proven track record, the RBI doesn't have the capacity to supervise an economy that's growing so fast and becoming larger by the year, points out T C A Srinivasa Raghavan.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
The IOC share sale is the fourth disinvestment this fiscal but the biggest in 2015-16 so far.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
