Here's how you can get the best out of your mutual fund investment.
Work on disinvesting government holdings may gather pace after the first week of August. Administrative ministries of around 15 Public Sector Undertakings have been asked to give feedback on the feasibility of coming out with initial public offers by then.
Companies such as SAIL, ONGC, IOC and Hindustan Copper are waiting to hit the markets.
Met with lukewarm response from a volatile market, Wockhardt Hospitals withdrew its IPO. It received bids only for 19.5%.
The panel would be chaired by T V Mohandas Pai, formerly a senior executive at IT giant Infosys and currently Chairman of Manipal Global Education Services Pvt Ltd, Sebi has said.
A deal, where a founder has brought back stake from early investors before an initial public offering, is unheard of in India or pretty much anywhere else, analysts pointed out.
Billionaire money manager George Soros reported a nearly 2 percent stake in Manchester United Plc on Monday, in one of the first revelations of investors in the British soccer club's controversial initial public offering earlier this month.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Walmart, the world's largest retailer, has paid $1.4 billion to buy out US-based Tiger Global's investment in e-commerce firm Flipkart, according to sources. The transaction puts Flipkart's valuation at $35 billion, against nearly $38 billion in 2021 when it raised funds from Japan's SoftBank, Walmart, and other investors. Tiger Global, Flipkart co-founder Binny Bansal, and Accel now have all fully exited the e-commerce firm by selling their stake to Walmart.
With the stock markets growing in size, this rule, which was framed eight years back, needs revision to allow such nominal dilution only if the IPOs are worth Rs 500 crore (Rs 5 billion) or above, according to experts. The rules require promoters to shed at least 25 per cent if the IPOs are less than Rs 100 crore (Rs 1 billion). The promoter holding in 500 listed companies has gone up to 58 per cent during the July-September quarter from 54 per cent in the April-June quarter.
E-commerce platform Snapdeal is looking at filing its Draft Red Herring Prospectus (DRHP) in the next few weeks to launch an initial public offering in first half of next year, according to sources. Sources close to the development said the company is looking at a $250 million (around Rs 1,870 crore) IPO that could value Snapdeal at about $1.5-1.7 billion. Snapdeal is looking at filing the DRHP in December-January time frame, and launch the IPO in the first half of 2022 after the necessary approvals, they added. One of the sources said the founders will not be selling shares as part of the IPO, and major shareholders are also expected to hold onto their shares.
Public sector carriers Air-India and Indian Airlines would not offload more than 20 per cent of their equity in their proposed initial public offer slated to be announced within this fiscal.
Officially confirming the change in tack for the first time after months of speculation, Kuldeep Goyal, BSNL's chairman and managing director, told Business Standard, "Foreign partners definitely bring in some expertise that will help the company improve its performance."
The PSU had earlier this week filed the draft papers for its initial public offering, billed to be India's biggest issue, through which the government expects to raise up to Rs 15,000 crore (Rs 150 billion).
The Securities and Exchange Board of India (Sebi) has withdrawn a major irritant for life insurance companies wanting to hit the capital market with initial public offers.
The company is against strong competition, which has deep pockets. This adds uncertainty to the success of the operations of its subsidiaries abroad.
Domestic capital market will see the launch of India's largest-ever initial public offering (IPO) next week. Life Insurance Corporation of India's (LIC's) landmark Rs 21,000-crore IPO will open for subscription on Wednesday. Here's a look at some unique features of this mega offering, which are not typically seen in other IPOs.
There's a straightforward relationship between economic activity and power consumption. If economic activity increases, so does power consumption. Since the latest GDP (gross domestic product) data indicates India's growth rates exceeded expectations in the second half if the 2022-23 financial year (H2FY23) and GDP estimates of FY24 are strong, we would expect power consumption to rise as indeed it has. There is also a direct relationship between power consumption and National Thermal Power Corporation or NTPC's results since the public sector undertaking (PSU) is the largest power generator in India.
Aggressive pricing and poor advice by investment bankers are the causes behind the IPO disaster of last month.
The initial public offer of NHPC Ltd, the state-run hydropower producer, was subscribed 3.54 times what was on offer on Friday, the opening day.
Tata-controlled CMC Ltd has filed a draft prospectus with Securities and Exchange Board of India for its proposed initial public offering to divest Centre's 26.25 per cent stake in the software firm.
The initial public offer of Adani Power, which closed today, got subscribed over 14 times with most of the bids coming in from institutional investors.
On the day of Facebook's market debut, trading glitches by the Nasdaq postponed the start of trading in the company by 30 minutes.
The initial public offer of Mahindra Holidays & Resorts got over-subscribed nearly four times on the final day of offer today till 1300 hrs, with most of the bids coming in from institutional investors.
The initial public offer of Mahindra Holidays & Resorts, through which it is expecting to raise up to Rs 301 crore (Rs 3.01 billion), got fully subscribed on the final day of offer on Friday.
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
After 'mutual funds sahi hai', it could be the turn of something like 'stock market sahi hai'. Ahead of what will be India's biggest initial public offering, expected later this year, the government and the insurance major are planning a high-decibel awareness campaign for retail investors to ensure their participation in large numbers. "It may be along the lines of the highly successful campaign on mutual funds," an official privy to the developments said. The campaign will mainly target investors in tier II and tier III cities, and will be organised through the vast network of LIC agents to make the policyholders aware about investing in stock markets.
The move signals a strong demand from investors.
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