Indian Airlines' board has decided in-principle to tap the capital market through a public offer.
British Prime Minister Keir Starmer has called an emergency COBRA meeting of senior ministers and police chiefs at 10 Downing Street in London on Monday after a weekend of riots across several cities in the country, which he termed a 'far-right thuggery' that will face the full force of the law.
Global investors have cited the ongoing war and high valuations of Indian equity markets as a reason to skip the IPO.
Investors lapped it up a day ahead of its closure.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
An investment banker handling the PSU issues said, "When employees pick application forms, these typically have stamps of brokers. But there was no clarity who will bear the cost. Now with this provision, government will pay 25 bps. It is lesser than retail because there is often no marketing effort from the broker, as a lot of it is done by the company itself."
Seeking to raise $5 billion, social networking giant Facebook has filed for its long awaited initial public offering.
Patience can be rewarding. 'Post-listing, sanity often returns to valuations of newly-listed businesses within six to nine months. Buy then.'
Ever since the Life Insurance Corporation (LIC) announced launching the initial public offering (IPO), 6.48 crore LIC policyholders have shown interest to get the much-touted share of the largest insurance company in the country, an official said. "The response to our IPO launch is wonderful. We have some figures: 6.48 crore policy holders have linked their PAN number with the policy details up to the cut-off date (February 28, 2022)," Rahul Jain, director of the Department of Investment and Public Asset Management (DIPAM) in the Ministry of Finance, told reporters. The LIC has set a price band of Rs 902-Rs 949 per equity share. The government intends to raise Rs 21,000 crore through the issue.
India witnessed 22 initial public offers worth over $2.5 billion in the first three months of 2021 amid "high momentum" in the country's capital markets and the trend is likely to stay bullish in the current quarter also, according to a report. Leading consultancy EY India's IPO (Initial Public Offer) report released on Wednesday showed that consumer products and retail, diversified industrial products, automotive and transportation were the most active sectors in terms of the number of IPOs in the 2021 first quarter. The IPOs include both in the main as well as SME (Small and Medium Enterprise) markets.
The primary market has seen hectic fundraising activity in April-November 2021, with 75 companies garnering Rs 89,066 crore through their IPOs, much higher than in any year in the last decade, Economic Survey showed on Monday. Moreover, a flurry of technology startups made their public debuts during the period. In comparison, 29 companies raised Rs 14,733 crore through initial public offerings (IPOs) during April-November 2020.
The IPO boom in 2023 added four new promoters to the billionaires' list.
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 government has sought details from National Thermal Power Corporation for its proposed public offer for increasing equity by up to five per cent
Earlier, the regulator only mandated disclosures and issued observations. It was on an investor to read the disclosures carefully and take an informed decision.
China's e-commerce giant Alibaba, which completed the world's largest initial public offering ever this month, has won approval from authorities in Beijing to establish a private bank as it diversify into financial services.
Bharti Infratel is a provider of telecom towers and related infrastructure and on a consolidated basis, is one of the largest in India, "based on the number of towers that Bharti Infratel owns and operates and the number of towers owned or operated by Indus, that are represented by Bharti Infratel's 42 per cent equity interest in Indus," according to the offer document.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
"PWD officials had informed us that a wall of the mosque was in PWD land and we were served a notice. So we decided to demolish the wall," Iqbal Ali, a member of the mosque committee, said earlier.
The microblogging network priced 70 million shares at $26, above the targeted range of $23 to $25, which had been raised once before.
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank's India employees a glimmer of hope. The surprise deal - engineered by the Swiss government - has triggered optimism of fewer job losses at Credit Suisse's India unit and better synergies at key verticals, such as wealth management and investment banking. "UBS is a much stronger hand. Coming within its fold will give Credit Suisse's wealth management and investment banking divisions a good home.
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.
If the markets regulator has not yet sent an advisory note to Coal India on its chief executive's frequent announcements in the media, it is probably because it is a public sector enterprise.
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.
Given the sharp rally in stock prices since September, coupled with robust foreign inflows, share-sale activity by companies is likely to gather pace in the next few weeks.
Logistics services provider Delhivery is likely to launch its downsized initial public offering (IPO) this week, said people in the know. The Softbank-backed firm may trim its issue size from Rs 7,460 crore to Rs 5,500 crore to align with the volatile market conditions, sources said. Sources added the fresh issue component of the IPO could be reduced to Rs 4,500 crore and the OFS component to Rs 1,000 crore.
>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
'We will continue to build new engines of growth in terms of innovations, enter newer categories, and look at newer propositions.'
It is looking to price its offering of 7.8 million shares between $32 and $35 a share, which will give it a valuation between $3 billion and $3.3 billion.
The Department of Disinvestment will soon appoint merchant bankers to manage 10 per cent stake sale in Engineers India which may fetch Rs 520 crore to the exchequer.
The employees are demanding salary parity with state government employees, seeking a pay scale adjustment to match that of their counterparts in the state sector.
From start to finish, Dharmaveer 2 feels less like a biopic and more like propaganda crafted for Eknath Shinde's political gain, observes Prasanna D Zore.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
Decks being cleared to ensure that the Mohan Gopal report is restored in the June 27 board meeting.
Global pension funds have started investing aggressively in primary market offers. Till recently, they were not looking beyond some of the largest Indian listed companies.
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