The second public offering of Punjab National Bank was oversubscribed by two times within minutes of its opening on Monday.
Outflows fell 16.4 per cent in April-Sept 2009 compared to the year-ago period.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Kicking-off the process of divestment in Bharat Petroleum Corp, government has invited bids for appointment of a global advisor for sale of 35.2 per cent stake in the oil PSU through public offer.
Credit Suisse First Boston, a leading investment banker, has scaled down India's GDP growth from 5.7 per cent to 5.4 per cent for the financial year 2002-03.\n\n\n\n
More cos could join the likes of Burger King and Antony Waste in giving listing another shot.
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Despite criticism, the investment bank said that it stands by its research.
'Sell part of your portfolio where you're making good money, especially in small caps and mid caps.' 'The money which you take home is yours. The money which is there on paper is not yours.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
The 42-year-old, who is a former investment banker, trended on social media after her speech on June 25 during a debate on the president's address.
Securities and Exchange Board of India is likely to tighten norms for big investors like domestic and foreign financial institutions and mutual funds to make the investment process in public offers more transparent.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
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.
Finance Minister Arun Jaitley who is in Davos to showcase India as an investment destination at the World Economic Forum (WEF), on Wednesday promised India has a "lot in the pipeline" for global investors even as he plans to take up with Switzerland the issue of black money stashed in banks there.
Market players said NBFCs and HNIs are recalibrating their plans based on the changing dynamics.
Budget this year has allowed PSBs to bring down govt stake to 51%
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The minister, who will also be meeting foreign institutional investors whose money is key to funding CAD in the afternoon, did not speak to reporters waiting outside.
Water projects firm Vishnu Prakash R Punglia, the 20th company to launch its IPO in the current year, saw its shares closing at a 47 per cent gain over its issue price on Tuesday. Such a huge one-day pop is considered rare; however, it has become the norm this year. The average listing-day gain for these 20 IPOs in 2023 is 34 per cent, and their average gain to date stands at 46 per cent.
According to sources, BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore (Rs 40-50 billion).
Dubai International Capital has reached a deal with its main bankers to delay repaying debts of $2.6 billion (9.55 billion dirhams) for three months, the company has said.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
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.
Beauty, Nykaa's founder Falguni Nayar realised, is a very long-tailed business and with e-commerce picking up in India, it seemed like a good idea to venture into.
It's raining IPOs, with eight issues hitting the market in a span of six days. However, the pace of new filings points to a deluge during the latter part of the year. So far this year, 58 companies have filed their draft red herring prospectus (DRHP) with the market regulator for initial public offerings (IPOs), exceeding the combined tally of 50 in the last two years. Industry participants said the filing count could cross 100 this year, setting a new benchmark in terms of amount mobilised in a calendar year.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
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 primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and dented earnings, making it tough for the companies to raise funds.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The Indian lenders are worried over the fast depleting asset base of the Future group companies which would make their recovery of dues difficult. The asset base of Future group has eroded in the last two years due to lockdown and takeover of 947 stores by rival Reliance Retail after Future group's lease on the properties expired. Bankers said they have approached bankruptcy court so as to avoid any duplication of legal action and reduce time at the legal forums.
The failed deals could be the much-needed wake-up call for the M&A space.
While the fresh issue portion of IPOs has been going down over the years, this financial year has been abysmally low at only Rs 2,663 crore, 82 per cent lower compared to the last financial year.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Investments in the country are set to leap-frog this year with top 300 companies lining up projects worth Rs 2,00,000 crore (Rs 2,000 billion).
Five to six issues may hit the market if Chalet Hotels's IPO is successful and if there are no negative surprises in the Union Budget on February 1.
If the UK government's help does not come soon, Indian owner Tata Motors will have to cut down its investment plans for Jaguar Land Rover with possible job losses and plant closures, a media report said.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
