On Wednesday, when Babu's plea came up before a bench of Justices Revati Mohite-Dere and VG Bisht, the bench recused itself from hearing it without citing any reason.
PB Fintech, the parent of Policybazaar and Paisabazaar, has set a price band of Rs 940-950 apiece for its initial public offering (IPO), which will open on November 1 and close on November 3. The company may be valued at around Rs 44,000 crore, and looking to raise an amount of around Rs 5,826 crore. The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.
Experts say companies wanting to launch IPOs will have to scale back their expectations given the fall in valuations.
'My father was asking me what an IPO is. He has no clue and he has never been an investor.' 'My mother, who was the one to ring the bell, has been an investor in Policybazaar for the past 6-7 years and I would say she has made good returns.'
After a month long gap, the primary market is heading for a busy time, with five firms including Paytm parent One97 Communications and policybazaar parent PB Fintech have lined up their IPOs in the first half of November to raise over Rs 27,000 crore collectively. The other three firms whose initial share-sales are set to open are Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries. The IPOs of FSN E-Commerce Ventures Ltd, which runs online marketplace for beauty and wellness products Nykaa, and Fino Payments Bank are currently open for public subscription.
'I thought I could throw even over 90m today. But it is okay as I have more competitions coming this year'
The Reserve Bank on Friday accepted most of the recommendations of its working group on corporate ownership of private sector banks, by allowing unrestrained promoter shareholding in the first five years of operations and hiking the same to 26 per cent after 15 years from the extant 15 per cent and also the new capital requirements. The move will benefit leading banks like Kotak Mahindra Bank and IndusInd Bank, among others, which have been seeking more time from the regulator to divest their stakes for many years now. Accepting 21 of the 33 recommendations of the internal working group, the central bank said the remaining suggestions are under its consideration.
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
The main accused Barjinder Singh Parwana was among the six more people arrested in connection with the clashes in Patiala that had left four people injured, the Punjab Police said on Sunday.
After a stellar November that saw companies mop up over Rs 36,000 crore from the primary market via initial public offers (IPOs) and offers for sale (OFS), the current month, analysts said, will test investor's willingness to stay on with their investments as the one-month mandatory lock-in period for anchor investors begins to loosen. A note by Edelweiss Alternative Research suggests that in calendar year 2021 (CY21), 51 companies went public. Of these, 41 issuances' anchor selling dates are already over.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
Scientific studies as well as anecdotal evidence suggest that Nike's Vaporfly running shoes, equipped with super-springy foam soles encasing a carbon-fibre plate, can increase running efficiency by between 4% and 6%. The shoe has also raised question at World Athletics, the sport's governing body, which looks set to review its rules for elite racing in light of technological advances while allowing recreational runners to wear what they want.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Year 2021 was another great year for fund-raising through equities. A total of Rs 1.8 trillion was raised through initial public offerings (IPOs), qualified institutional placements (QIPs), and rights issues, against the Rs 1.7 trillion raised in the previous year. Funds raised through IPOs quadrupled, while those from rights issues and QIPs reduced.
The explosion took place in the wash room of the second floor of the court complex, said police.
Bollywood doesn't wait for the weekend to party!
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.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
'In 2022, active management, long-short strategies, multi-asset strategies, and asset allocation strategies need to be considered to meet long-term investment goals.'
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.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
Bollywood took to the stage quite glamorously at IIFA Rocks, the event that kick-started the 20th edition of IIFA.
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).
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
Jamaica's Elaine Thompson-Herah made Olympic history in Tokyo Tuesday, blazing to victory in the 200 metres to complete an unprecedented women's sprinting "double-double".
Even if the Paytm fiasco does not mark the end of the bull run, at least some sanity will return to the wild IPO market, observes Debashis Basu.
Congress candidate from Rajasthan's Tonk-Sawaimadhopur constituency Mohammed Azharuddin tells rediff.com's PB Chandra about the tough battle ahead, his plans for the region and his view on statehood to Telangana.
Massive campaigning by BJP's prime ministerial candidate Narendra Modi may have given the saffron party a slight edge over the ruling Congress, believes PB Chandra
The senior leader expressed shock and attacked the "manner of and intention" in removing Prashant Bhushan and Yogendra Yadav from the PAC
Shiromani Akali Dal chief Sukhbir Singh Badal's bullet-proof car was damaged and four people were injured in a clash between Congress and Akali workers during the filing of nomination papers for the Jalalabad municipal polls in Fazilka on Tuesday, officials said.
Have features such as Regza engine, power bass booster, and auto signal booster.
Neeraj ran in fast, did the crossover. The javelin flew out of his hands and he did not look towards the sector. He just knew he had bettered the first attempt. The moment the javelin left his hand, he knew he had done it.
Adult entertainment company Playboy is set to open its first club in India in north Goa's Candolim beach.
Hockey icon Balbir Singh Senior, who died at 96 after battling multiple health issues, was on Monday cremated in Chandigarh with full state honours, with Punjab Sports Minister Rana Gurmeet Singh Sodhi declaring that the Mohali stadium will be named after the legendary player. The mortal remains of the three-time Olympic gold medallist was consigned to flames at an electric crematorium here, with his maternal grandson Kabir performing the last rites in the presence of Sikh priests.
Penpix of the leading candidates for the men's Olympic 100 metres which gets underway with opening-round heats on Saturday.
Coming down heavily on Team Anna's agitation, the Bombay high court on Friday said it can't allow "parallel canvassing" when Parliament is seized with debate on Lokpal Bill and questioned its decision to seek exemption from charges to use MMRDA grounds for Anna Hazare's proposed fast.
Justice (retd) PB Sawant hit the headlines recently when his probe found that an amount of Rs 2.2 lakh was diverted from Anna Hazare's Trust for his birthday celebrations, something which he termed as 'corruption.'
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
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