'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
the largest transactions of the year include the merger of Quality Care India and Aster DM Healthcare valued at $5.08 billion, followed by Bharti Enterprises' acquisition of a 24.5 per cent stake in the BT Group at $4.08 billion, and a family settlement transaction in the Godrej family at $3.5 billion.
The year 2009 was a difficult year for Indian merger and acquisition deals.
In a step towards investor awareness, the Securities and Exchange Board of India (Sebi) has directed companies planning to launch initial public offers (IPOs) to release a 10-minute video containing key information related to the issue. The initiative is to make it easier for investors to understand the features of the public issue and the company.
SBI has hired six global giants -- Citigroup, UBS, Barclays Bank, Deutsche Bank, Bank of America Merrill Lynch and JP Morgan -- for the sale of dollar-denominated bonds, they added.
The year 2009 was a difficult year for Indian merger and acquisition (M&A) deals. However, it established the supremacy of Indian investment bankers (i-bankers) by catapulting them to the top of the league table, leaving their international peers far behind.
Investment bankers generally laugh all the way to the bank once shares get listed on the bourses, but they may have to hang around a bit longer. The Securities and Exchange Board of India (Sebi) is planning to make the bankers managing an issue responsible for the end-use of issue proceeds.
Move aimed at avoiding crowding of public issues during the Centre's mega disinvestments in coming months.
State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
Former investment banker Ed Woodward will take on the top executive role at Manchester United from July, working with manager Alex Ferguson to hire new players for the 19-times English soccer champions.
Every banker loves the four-letter word Casa as it plays an important role in lowering the cost of deposits. Every bank wants to increase its Casa, as a higher portion of Casa in the overall deposit liability brings down its cost of money, points out Tamal Bandyopadhyay.
rediffGURU Shalini Singh explains how to manage your emotions when you are ghosted by someone you love.
Despite sharp interest rate cuts expected in this financial year amid easy liquidity conditions, state-run banks are treading cautiously on their loan growth projections for FY26. Most large banks are projecting loan growth at 11-13 per cent, almost similar to the previous financial year.
Experts say the robust filing suggests the second half of the year will see large-scale issuances, provided the markets remain supportive.
In March this year, he quit to start his own firm for equity syndication to cater to small and medium enterprises in smaller towns. Huzefa Sitabkhan, who was working with one of the domestic investment banks (i-banks), left to start PNR Consulting, an advisory and consultancy firm for equity and debt syndication for SMEs.
Private equity (PE) players and investment bankers are divided over the timing of the BT Group's reported move to exit Tech Mahindra. BT owns about 30 per cent in TechM.
In a bid to ease compliance towards companies planning public offers (IPOs), the Securities and Exchange Board of India (Sebi) has notified norms that open more avenues to meet the minimum promoters' contribution (MPC). The market regulator has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in the case of a shortfall without being identified as a promoter.
US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. In a report, JP Morgan gave 'overweight' rating on three bond issues of Adani Ports & SEZ and one by Adani Electricity Mumbai Ltd (a subsidiary of Adani Energy Solutions Ltd). It has taken neutral stand on other five Adani bonds and is underweight on one bond issued by Adani Green Energy Ltd.
Investment bankers have found a new rival for executing merger and acquisition deals in the form of the Internet, which is making the sale or purchase of a company as simple as the click of a mouse.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
Past two years have witnessed a churn, mainly in the area of mergers and acquisitions.
The lucrative world of investment banking is a thrilling ride for those who like making money.
Industry players said the sharp sell-off in February forced many companies to put off their listing plans
Private equity (PE) investments in India have fallen to a 6-year low at $24.2 billion in the financial year ending March 2024. Investments via PE deals are down 47 per cent compared to FY23, when private equity deals worth $45.8 billion were signed. According to data sourced from Bloomberg, PE firms had signed record deals worth $80 billion in the financial year ending March 2022.
'There is no irrational exuberance when it comes to mainboard IPOs.' 'Most issues are by good quality businesses.'
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
For investment bankers, a Brexit vote is more than just about volatile prices on a screen but also about where they may end up working and living.
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
Driven by a historic IPO boom that saw 63 issuers, led by new-age tech companies, garnering a whopping Rs 1.2 lakh crore ($16.6 billion) from the primary market, investment bankers laughed their way to the bank collecting $1.1 billion in fees in the year just gone by, making it the highest-ever advisory fees collected, says an industry report. At $16.6 billion, the initial public offers (IPO) set a lifetime record in 2021, bettering the previous record of $10.8 billion in 2017 by a wider margin. While the number of IPOs more than doubled from a year ago to 63, the proceeds were more than four-times the amount raised from the same period previous year and the momentum is likely to continue as more IPOs are anticipated next year, with mother of all issues, LIC issue, expected to boost proceeds next year much higher, it said.
As many as six merchant bankers are vying to handle and manage the sale of the government's 29.53 per cent residual stake in Hindustan Zinc Ltd (HZL), according to an official notice. ICICI Securities, SBI Capital Markets, HDFC Bank, IIFL Securities, Axis Capital and Citigroup Global Markets will make their presentations via video conferencing before the government officials on Friday, highlighting their plans in managing the offer for sale. The bankers to manage the sale process would be finalised after the presentation and opening of financial bids on August 12, as per the notice.
Under its new chairman Tuhin Kanta Pandey, the Securities and Exchange Board of India (Sebi) has gravitated towards greater transparency and ease of doing business, setting an objective of "effective and optimum" regulation. On Monday, during its first board meeting under Pandey, the regulator has decided to constitute a high-level committee (HLC) to review conflicts of interest and unveiled initiatives to simplify regulatory processes.
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
Stock exchanges have intensified vigil on Small and Medium Enterprise (SME) listings by mandating more comprehensive financial disclosures and enhanced monitoring of utilisation of issue proceeds from investment bankers, amid rising instances of dubious practices. Bourses - responsible for vetting initial public offering (IPO) documents and granting approvals to SMEs - have tightened norms in recent weeks with further measures planned for new filings to safeguard investor interests, sources said.
'What is Balaji without Ekta (Kapoor), what is Dharma without Karan (Johar?)'
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
