Seeking to boost listing of start-ups, markets watchdog Sebi on Thursday decided a slew of relaxations to norms, including reducing holding period for pre-issue capital and allowing discretionary allotment to eligible investors. The changes have been approved to the framework for listing on the Innovators Growth Platform, Sebi said in a statement after the board meeting. Other proposals approved include easing delisting requirements and relaxation in guidelines for migrating to main board.
Chennai-based Zylog Systems, an IT services and product company, plans to enter the capital market with a public issue to part-finance its expansion. The company has filed its draft red herring prospectus.
With the company preparing to go public, let's take a look at some of its biggest markets.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
Navil Noronha stepped out of the shadows to address the media for the first time during the company's recent IPO.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
Xioami, currently the world's third-largest smartphone maker, is now planning to raise about $1.5 billion in its fifth round of financing, media reports said.
Air Deccan had also approved a plan to offer 10 per cent of the equity to its employees. The airline hopes to carry 4 million passengers during the current year and report revenue of Rs 1,000 crore.
The SAT asked Sebi as to what it was doing all these seven years and why it did not object to the revised IPO documents.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The big flops of the year -- Reliance Power and Future Capital Holdings -- are currently available at 25 per cent below their issue price. The other major post-listing losers include BGR Energy, Shriram EPC, J Kumar Infraprojects and KNR Constructions. Among the smaller issues, Precision Pipes and Profiles, Manaksia, and Porwal Auto Components are currently available at 50 per cent below their issue prices.
However, the number of renewals has grown by only 0.4 per cent, which means only high value and ticket size renewals are coming.
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
He was number three in 1999 when the company was founded.
The Bombay Stock Exchange's benchmark Sensex is likely to hit the much awaited psychological level of 21,000 this week, driven by the smart Reliance numbers and expectations of robust listing of the Coal India IPO, say analysts.
The Wadia group-owned airline is building a new management team and putting in place strategies for efficient operations. Leading the change is Cornelis Vrieswijk, the airline's new chief executive officer.
DLF was asked to file an affidavit in this matter by Monday, after which SAT would issue directions on Wednesday (November 5) on whether the interim relief can be given.
As economic policy making moves from pragmatism to populism, the bulls begin to make way for cautious optimists.
Stock market bellwether Sensex hit an all-time closing high of 20,893-mark on Thursday and analysts are bullish that the index may surpass its life-time peak of 21,206.77 on Friday on the auspicious occasion of Diwali.
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
Hamsini Karthik reveals why the ongoing business rejig will help unlock value for shareholders of Grasim, Reliance Capital and Tube Investments
The case has also brought to limelight 'technicalities' involved in the practice of Sebi giving 'observations' and not 'approval or clearance' for an IPO
.jpg)
The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
Many argue that the airline could achieve its full potential if Nusli Wadia were to run it the way he does Britannia.
Lines up seven OFS issues along with half a dozen IPOs for the next few months
Analysts question negative net worth because of dividend payout ahead of IPO.
As per the new methodology, stocks must have an annualised traded value of at least Rs 1,000 crore for their inclusion in the BSE 100 index at each semi-annual rebalancing
Afcons, a Shapoorji Pallonji group company, is planning to raise around Rs 300 crore (Rs 3 billion) through an initial public offering.
Small stocks made a dashing comeback in 2020 after delivering negative returns in the last two years as increased retail investor participation in pandemic times saw small-cap index surging up to 31 per cent and outperforming the bigger benchmark gauge. This year turned out to be eventful for the equity market, witnessing bearish and bullish sentiments at different points of time. While the initial part of COVID-ravaged 2020 saw the bears in full force amid concerns related to the pandemic and lockdowns hurting economic activities, bulls made a comeback towards the latter half of the year. As the market swayed with many lows as well as highs, small and mid-cap indices emerged as markets favourites in 2020.
Sebi had imposed penalties on DLF, for entering into sham transactions.
Post-listing, real estate major DLF will find a place among the top-10 companies in terms of market capitalisation.
Currently Jack Ma owns 7.6 per cent of Alibaba and Joe Tsai owns 3.1 per cent.
Consider factors like time, risk profile, return requirements, expenses, liquidity needs, etc. Make sure to have insurance and opt for a term plan, says Amar Pandit.
Trading for the scrip of Jet Airways (India), which will be listed on National Stock Exchange on Monday, would be in the normal market segment.
