Both the promoter groups - Vodafone and Aditya Birla - have confirmed their participation of up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, in the issue.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
The primary issue market has hit an all-time high with 63 corporates raising Rs 1,18,704 crore through main-board initial public offerings (IPOs) so far in 2021, which is nearly 4.5 times more than the Rs 26,613 crore raised through 15 issues in 2020 and almost double of the previous best of Rs 68,827 crore in 2017, according to a report. Pranav Haldea, managing director of Prime Database Group, said the IPO frenzy was driven by new-age loss-making technology start-ups along with strong retail participation, and the resultant massive listing gains were the key highlights of the year. Another highlight was only 51 per cent or Rs 103,621 crore of the total Rs 202,009 crore was fresh capital raising and the remaining Rs 98,388 crore were offers for sale.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
'Investing in the stocks of holdcos can be a very efficient and inexpensive way of gaining exposure to the stocks of India's reputable growing business houses.'
'It is a worrying trend as we are not seeing too much fresh capital being raised for new projects, plants, expansion or diversification. It's just private equity or venture capital or promoters cashing out.'
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
Mutual funds are a popular investment tool for investors because it offers a convenient and cost-effective way to invest in the financial markets.
In the year to date, 61 PSUs have lost an average of 22 per cent, with five companies losing more than half their share value. The BSE PSU index is down 10.6 per cent.
Equity investors should thank cash-rich biggies such as TCS, ITC, HUL, Nestl, and Bajaj Auto for this.
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
The Singapore-based arbitrator, SIAC, has rejected Future Retail's plea to lift the interim stay on its Rs 24,713-crore deal with Reliance Retail, giving a major relief to Amazon that is contesting the transaction. The development comes a day after the Singapore International Arbitration Centre (SIAC) held that Future Retail is a party to the ongoing arbitration between Amazon and Future group in the dispute over the sale of its assets to Reliance Retail. Future had contended before the SIAC that it should be excluded from arbitration proceedings because it is not a party to the dispute between its promoter Future Coupons Pvt Ltd (FCPL) and Amazon.
PE funds say they have enough money to buy two or three of the indebted companies and the issue is not cash but the management bandwidth to turn them around.
'No commercial bank will be allowed to fail. There is nothing to worry about.'
Nine lenders have exposure to the promoter entities and had taken listed operating companies' shares as collateral from the promoter companies.
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
The Rajya Sabha on Wednesday approved the bill giving primacy to Delhi's Lieutenant Governor (L-G) over the elected government after high drama in the House that saw uproar by the opposition and a walkout by MPs of parties like the BJD, SP, Congress and the YSRC.
The veteran Congress leader said people asked him why only he had been arrested, but he had no answer.
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
'The markets haven't corrected, that doesn't mean that they will only go up and up.'
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.
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
Additional levy to eat into Rs 6,000-crore income of top promoters
Property buyers fund the project cost and the entire debt and entire equity servicing, and yet, have no locus standi in the IBC process, points out Debashis Basu.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
And if there are so many opportunities, why haven't they invested in them, asks Debashis Basu.
Sachin Tendulkar has recently made an equity investment of $2 million in digital entertainment and technology company JetSynthesys. The investment further strengthens Tendulkar's relationship with JetSynthesys, as the two already have an existing joint venture for a digital destination for all things cricket, called 100MB, and immersive cricket games Sachin Saga Cricket Champions and Sachin Saga VR. With this investment, Tendulkar joins the bandwagon of existing shareholders of JetSynthesys, who include Adar Poonawalla, Kris Gopalakrishnan, and the multi-billion-dollar family offices of the promoters of Thermax, Triveni Group, Yohan Poonawalla Group and DSP Group.
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
In HDFC Life, the company has to pare 1.43 per cent, and in HDFC Ergo, it has to pare only 0.58 per cent.
The SME segment has been grappling with lack of liquidity and lacklustre institutional participation.
The promoters expect to get Rs 9,000-10,000 crore from the sale of their assets
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Banks to get more aggressive and act like PE investors
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances