Power Trading Corporation's initial public offering of 5.85 crore (58.5 million) shares was oversubscribed by about two times on day one, sources associated with the process said in New Delhi.
Petronet's IPO of 261 million shares will hit markets on March 1, 2004. The IPO has been put in a price band of Rs 13-15 a share.
The government of India will offload its residual 26 per cent stake in IBP Ltd through book-built public offering slated to open on February 23.
'We are targeting the 5G tender around January-March 2023.'
The initial public offer of Indraprastha Gas Ltd has already been oversubscribed 2.5 times much before the closing date of December 5.
Anticipating pressure from the government, steel companies decided not to hike prices on Sunday, but are likely to raise them over the next few days in varying degrees.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
The Reserve Bank of India on Thursday opted for a pause second time in a row, maintaining key benchmark policy rate at 6.5 per cent as inflation moderates. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the rate unchanged at 6.5 per cent.
The public issue of equity shares of ICICI Bank in India, of Rs 5,000 crore (Rs 50 billion) with a greenshoe option of Rs 750 crore (Rs 7.50 billion) will open for bidding through the book building route from December 1 to December 6.
HT Media Ltd, which will raise up to Rs 407.62 crore (Rs 4. 07 billion) from its forthcoming IPO said it will come out with its FM radio channel "right away" but ruled out foraying into a TV news channel business in the "forseeable future".
Financial services company IL&FS Investsmart Ltd has fixed a price band of Rs 110 to Rs 125 for equity shares of Rs 10 each for its initial public offering.
Yes bank is entering the capital market on June 15 with an initial public offering of 70 million equity shares of Rs 10 each for cash at a premium to be decided through the book building process.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times.
India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday. Varma further said out of the four engines of growth for the economy, exports and government spending supported the Indian economy through the pandemic, but other engines need to pick up the baton now. " I like to think in terms of the four engines of growth for the economy: exports, government spending, capital investment and private consumption. "...while exports cannot be the main driver of growth because of the global slowdown, government spending is necessarily limited by fiscal constraints," he told PTI.
Retail chain Shoppers' Stop Ltd is planning to open 11 more stores in Bangalore, Mumbai, Delhi, Pune, Noida and Hyderabad in the next 24 months.
Yes Bank is likely to hit the market in the second week of May with its Initial Public Offer of 7 crore (70 million) shares to raise up to Rs 300 crore (Rs 3 billion).
Jet Airways (India) Ltd on Friday launched its initial public offering of 1.72 crore (17.2 million) shares of Rs 10 each to raise up to Rs 1942.50 crore (Rs 19.42 billion) from the capital markets.
Tickets for next year's World Cup in Russia will go on sale from Thursday with prices ranging from $105 for the cheapest seats at group stage matches to $1,100 for the most expensive seats at the final, FIFA said on Tuesday.
In terms of traded volume, 19.47 lakh shares were traded on the BSE, while over 1 crore shares were traded on the NSE.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
RBI Governor Shaktikanta Das on Wednesday defended the Reserve Bank's handling of the price situation, saying acting prematurely on inflation would have exerted a heavy cost on the economy and citizens. Acknowledging that the inflation target has been missed, Das said the RBI decided to support the economy by not introducing a rate hike in face of a spike in inflation. "We prevented a 'complete collapse of the economy' by keeping rates lower and stayed away from premature tightening," Das said speaking at the annual FIBAC conference of bankers in Mumbai.
RBI's projection of retail inflation at 6.8 per cent in the current fiscal is neither too high to deter private consumption, nor so low as to weaken inducement to invest, the Economic Survey said on Tuesday. However, entrenched inflation may prolong the tightening cycle and therefore, borrowing costs may stay 'higher for longer', it said. The Economic Survey 2022-23 was tabled in Parliament by Finance Minister Nirmala Sitharaman.
Among the main gainers were Jio Financial Services which jumped 4.99 per cent, Tata Steel (2.09 per cent), Maruti Suzuki (1.87 per cent), M&M (1.31 per cent) and Infosys (1.19 per cent).
Growth in India is expected to slow to 6.3 per cent in FY 2023/24 (April-March), a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. The World Bank made these points in its latest edition of Global Economic Prospects according to which global growth is projected to decelerate from 3.1 per cent in 2022 to 2.1 per cent in 2023. In Emerging Markets and Developing Economies (EMDEs) other than China, growth is set to slow to 2.9 per cent this year from 4.1 per cent last year. These forecasts reflect broad-based downgrades.
NDTV on Monday said it will raise Rs 109 crore (Rs 1,090 million) through the initial public offer for working capital requirements and to repay Rs 38 crore (Rs 380 million) debt.
ICICI Bank Ltd on Friday said its equity issue aggregating upto Rs 3,500 crore (Rs 35 billion), including a green shoe option, will open on April 2.
ONGC's mega offer of its 10 percent stake was overbid by 4.24 times by investors, many of them overseas institutions
The Union Cabinet has approved the modalities for holding 5G spectrum auctions, and 72097.85 MHz of radio waves will be put on the block by July-end, an official release said on Wednesday.
After poor response to last month's 2G spectrum sale, a ministerial panel on telecom on Friday decided to lower the base price by 30 per cent for radiowaves in 1800 Mhz band in four circles, which attracted no bidders, for fresh auction this fiscal.
Regulator has suggested a lower reserve price even in service areas where spectrum was sold in November 2012.
The government is likely to hold 5G spectrum auction in early June, telecom minister Ashwini Vaishnaw said on Thursday. The minister said that the Department of Telecom is working as per expected timeline and the process is on to resolve industry concerns around spectrum pricing. Asked about the schedule of the spectrum auction, Vaishaw said that it is expected to be in early June.
Within a week of the Telecom Regulatory Authority of India giving its final recommendations on the valuation and pricing of spectrum, Chairman Rahul Khullar speaks to Business Standard on the process the regulator followed in finalising the much-debated issue.
The chief of the British telco's Indian subsidiary, which is the second largest cellular operator in India, also said the recent decisions by telecom authorities have disappointed the sector.
Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Wednesday due to profit booking in banking, financial and IT stocks after a recent rally. The 30-share BSE Sensex plunged 537.22 points or 0.94 per cent to end at 56,819.39 as 24 of its stocks declined. During the day, it tanked 772.57 points or 1.34 per cent to touch a low of 56,584.04. The broader NSE Nifty declined by 162.40 points or 0.94 per cent to 17,038.40 with 39 of its constituents ending in the red. Bajaj Finance was the biggest loser among Sensex stocks, dropping by 7.24 per cent.
The company commands a market valuation of Rs 31,702.37 crore (Rs 317.02 billion).
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
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