While riskier than debt, Sebi's stringent guidelines may ensure a safe and liquid product.
'Israel would make Iran and its proxies pay. They, along with Qatar, fund terror all over the world.'
The IPO lane will continue to be busy in December as 10 companies have lined up initial share-sale plans worth more than Rs 10,000 crore, merchant banking sources said on Wednesday. Moreover, the initial public offerings of Star Health and Allied Insurance and Tega Industries are currently open for public subscription. This comes after 10 firms successfully concluded their initial public offerings (IPOs) in November. Among the companies that scheduled their IPOs in this month include RateGain Travel Technologies, travel and hospitality technology services provider, and Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi.
The EPFO, which has 50 million subscribers, provides annual interest of 8.75 per cent on provident fund deposits.
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
Of the 59 IPOs for which the data is available, 36 IPOs received mega responses of more than 10x (of which, six IPOs more than 100x), while eight IPOs were oversubscribed more than 3x.
Growth-oriented technology companies have raised Rs 15,000 crore through initial share sales in the last 18 months and IPOs worth around Rs 30,000 crore by such firms are in the pipeline, Sebi chairman Ajay Tyagi said on Thursday. "Growing number of unicorns in the startup ecosystem is a testimony of the new age tech companies coming of age in our economy. These companies often follow a unique business model focusing more on rapid growth than immediate profitability," Tyagi said at an event organised by industry body CII. During the last 18 months, growth-oriented technology companies have raised a sum of around Rs 15,000 crore through IPOs (Initial Public Offerings).
According to the RBI proposal, companies can now take the ECB route for raising 10-year funds which is capped at five years now.
The markets regulator, Securities and Exchange Board of India (Sebi), recently introduced fresh guidelines to determine the place of a mutual fund (MF) on its riskometer tool.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
Modi said today "we all have reached an important and historic partnership".
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23). While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation. For the National Industrial Corridor Development & Implementation Trust (NICDIT), the finance ministry has allocated Rs 1,500 crore instead of Rs 2,400 crore demanded for the project.
'Investors with higher risk appetite and longer horizon (more than one year) can invest in longer-duration funds like corporate bond funds, long-duration funds and gilt funds for maximum gain.'
Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war.
As Modi's government embarks on its third term, apart from ensuring these schemes boost India's green mobility, addressing bottlenecks like battery swapping and meeting PLI deadlines are likely to be the government's major tasks.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms -- IL&FS, IFIN and ITNL. "The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and for the amount of Rs 16,361 crores i.e Rs 11,296 crore of cash and Rs 5,065 crores of InvIT Units," said an order by a two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
We all need an expert whose advice you can trust, who will not start pushing products at you and rather help you understand why your wealth is not growing as it should, says Erik Hon.
Real estate investment trusts may not be attractive enough.
Gadkari said the NHAI was working on setting up an InvIT to monetise its projects for mobilising resources through capital markets.
'Disengagement is merely the first step in a lengthy process of arriving at a new normal along the LAC in Eastern Ladakh and the entire land boundary.' 'The Indian government should insist on the restoration of the status quo ante in Eastern Ladakh.'
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
Reliance Industries invested Rs 30,000 crore (around $3.76 billion) in its retail business and added 2,500 stores, taking the total store count to 15,196 in FY22. Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet, Reliance Industries Ltd (RIL) said in the annual report for FY22. In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
'The Indian government is better prepared this time and has reached out to all contenders and not putting all eggs in one basket.'
The markets regulator made it easier for banks to acquire control in listed companies.
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.
While activity in the highway segment has been slow, the bid pipeline saw recovery in January 2024, and awards are expected to improve in Q4FY24. The national highway (NH) bid pipeline has recovered from a low of Rs 15,900 crore in December 2023 to Rs 68,400 crore at present. The NHAI's pipeline stands at Rs 66,100 crore, with hybrid annuity model (HAM), build operate transfer (BOT) and engineering procurement and construction (EPC) projects accounting for 60 per cent, 29 per cent and 13 per cent share, respectively.
The primary market will see a flurry of activity in March, with at least three companies including Gopal Snacks will float their initial public offerings (IPOs) in the upcoming week to raise Rs 1,325 crore collectively. The other two companies which are set to launch their maiden public issues are -- RK Swamy and JG Chemicals. Additionally, Bengaluru-based luxury furniture brand Stanley Lifestyles and Krystal Integrated Services are expected to float their initial share-sales later this month, according to merchant bankers.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
India on Saturday pulled off a big diplomatic win after the G20 summit adopted a consensus declaration overcoming major differences on the Russia-Ukraine war, as Prime Minister Narendra Modi called for ending "global trust deficit".
According to the experts, a lot of countries have little or no faith in Chinese companies because of poor after-sales support and equipment that rapidly declines into non-functional machinery.
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
Private-equity funds made an average annual return of just 7 per cent between January 2007 and December 2013 while the Sensex was up 11 per cent.
