Star Health and Allied Insurance's Rs 7,250-crore initial public offering (IPO), the third largest this year and eighth largest ever, just about managed to make it despite a poor response from investors, garnering just 79 per cent subscription, forcing the investment bankers to prune offer for sale (OFS) component. This is the second large offering after digital payments major Paytm this year to receive a lukewarm response from investors, a sign that despite the IPO frenzy investors are discerning when it comes to pricing. As Star Health didn't meet the profitability criteria, its IPO required a mandatory 75 per cent subscription from qualified institutional buyers (QIB).
Want to own a Merc or Beemer but can't afford it? Here's your chance. With luxury car makers getting ready to launch upgraded versions of models, dealers are offering discounts ranging from Rs 1 lakh to Rs 4 lakh on models that are being phased out to clear inventory.
The US Fed interest rate decision, domestic macroeconomic data announcements and ongoing quarterly earnings are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Besides, monthly auto sales numbers and the LIC IPO will also remain in focus, they added. Equity markets will remain closed on Tuesday for Id-Ul-Fitr (Ramzan Id). "The market is likely to kick off this week on a sombre note after a sharp fall in the US market then the focus will shift to the outcome of the US FOMC meeting, which is crucial amid record inflation and growth worries.
Apple was a fringe player in all key categories like smartphones, notebooks, and tablets till recently. But with the last quarter's record-breaking performance, the brand has established itself in the country's price-sensitive consumer electronics market.
The current oil prices at nearly $83 a barrel, which are slightly above the $70-80 band, are ideal for producers and consumers and are at sustainable levels, Saudi Arabia Minister of Petroleum and Mineral Resources Ali Al-Naimi has said in a news report.
The Axis Bank share sale was launched on Thursday in an indicative price band of roughly Rs 1,290 to Rs 1,357 a share.
The stock of Colgate-Palmolive (India) surged after the company delivered a better than expected operating performance for the March quarter of the 2022-23 financial year (Q4FY23) recently. The stock, however, has given up most of these gains over the last one week as the Street awaits recovery in the core toothpaste segment and sustained recovery in market share. The country's largest listed oral care company posted a gross margin expansion of 100 basis points (bps) on a sequential basis to 66.9 per cent, led by pricing and efficient sourcing.
Kishore Biyani-promoted Future Capital Holdings' initial share sale, which closed its IPO on Wednesday, was subscribed nearly 131 times, as investors shrugged off shaky secondary market sentiment after the benchmark Sensex tumbled nearly 860 points in the last two days.
The scrip of Sasken Communications, a telecom research and development company, on Friday opened at Rs 400 per share at a premium to the issue price of Rs 260 at listing on the Bombay Stock Exchange Ltd.
Telecom R&D outsourcing company Sasken Communication Technologies' initial public offer to raise Rs 115-130 crore (Rs 1.15 to 1.3 billion) opens for subscription on Thursday.
Kaushalya Infrastructure has plenty to prove since it is yet to gain a critical mass.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said. Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.
The Saudi and Iraq offer to replace Iranian crude supplies comes with a catch: Higher prices for the same quality of crude. The new government will face a tough decision over fuel price hike, says Aveek Sen.
Government-owned oil firms on Saturday increased petrol and diesel prices by Rs 1.10 and Rs 1.42 per litre respectively in step with the rise in international fuel prices.
The primary markets are finally coming back on track, with the initial public offer (IPO) of state-run lender and electricity distributor Rural Electrification Corporation (REC) getting subscribed within 27 minutes of opening.
Emaar MGF's IPO got subscribed 12% in the first two hours of opening of the issue.
The ongoing initial public offers have suffered the brunt of the crash in the secondary market with issue of two companies -- Cords Cable and J Kumar Infra Projects -- receiving low responses from investors. The initial public offer of Cords Cable Industries has got bids for just 39 per cent of the shares on offer. The issue received bids for over 12.09 lakh shares against 30.85 lakh shares on offer.
Workhardt Hospitals is planning to enter the capital market soon. Its first IPO will open on Jan 31.
Realty major Emaar MGF on Monday said it will enter the capital market to mop up anywhere between $1.58 to 1.79 billion through issue of 10.25 crore (102.5 million) equity shares in the price band between Rs 610-690.
Future Capital IPO was fully subscribed within four hours of its opening. The company is expected to raise Rs 490 crore through the IPO.
The country's biggest IPO will close on January 18.
The public issue of 39,56,808 equity shares would open on December 4 and close on December 7. The company has fixed a price band of Rs 125 to Rs 150 per equity shares to be decided through book building.
The government is set to exceed its 2009-10 disinvestment target of Rs 1,120 crore through the first company that is slated to go to the markets this year -- NHPC.
The shares of Petronet LNG Ltd were on Friday listed on the Bombay Stock Exchange and first trade was struck at Rs 16.50 per share for 500 scrips.
Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform. Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed. The IPO is India's biggest since March 2020. Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.
It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
PGCIL has a monopoly in the interstate power transmission business and owns and operates most of India's interstate and inter-regional electric power transmission system.
Central transmission utility PowerGrid Corp said on Saturday it plans to invest Rs 55,000 crore (Rs 550 billion) in the next five years to expand the national grid capacity to transmit 37,000 MW of electricity by 2012.
Telecom operator Bharti Airtel will start rolling out 5G services this month and cover all towns and key rural areas of the country by March 2024, a senior company official said on Tuesday. Bharti Airtel managing director and CEO Gopal Vittal also said that the price of mobile services in India is very low and needs to go up. "We intend to launch 5G starting August and extend to a Pan India roll out very soon.
The initial public offer of real estate developer Housing Development and Infrastructure Ltd, expected to garner about Rs 1,485 crore (Rs 14.85 billion), remained under-subscribed on the first day on Thursday.
Spice Communications, a company that offers GSM services in Punjab and Karnataka through its Spice Telecom brand, intends to raise Rs 520 crore (Rs 5.20 billion) through its initial public offering (IPO).
Retail inflation declined to a one-year low of 5.72 per cent in December 2022, mainly due to softening prices of food items, according to official data released on Thursday. The Consumer Price Index (CPI) based retail inflation was at 5.88 per cent in November 2022 and 5.66 per cent in December 2021.
According to DLF, the company has a land bank of 10,255 acres, of which 70% is in the metro cities, with 50% being in the National Capital Region alone.
Fortis Healthcare plans to raise about Rs 504 crore (Rs 5.04 billion) from the capital market in addition to the Rs 154 crore (Rs 1.54 billion) raised through private placements before the IPO, a top company official said in Mumbai on Wednesday.
The stock of two wheeler maker Eicher Motors was the highest gainer among BSE 100 stocks, rising 6.6 per cent in trade on Friday. The gains came on the back of better than expected performance in the March quarter of the 2022-23 financial year (Q4FY23) and earnings upgrades by brokerages. Standalone revenues (Royal Enfield) were up 19.9 per cent year-on-year (YoY), led by an 18 per cent growth in volumes and a marginal uptick in realisations.
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