If you are serious about countering the Chinese threat, then the best weapon is investing in real freedom, plurality, elections and democracy. Unfortunately, it isn't an approach all Indians currently seem to agree on, asserts Shyam G Menon.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
Fintech firm MobiKwik on Monday filed a draft red herring prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (Sebi), for its initial public offering (IPO). According to its DRHP, the company plans to raise Rs 1,900 crore, which includes a fresh issue of Rs 1,500 crore and an offer for sale of Rs 400 crore. The selling shareholders include American Express Travel, Bajaj Finance, Cisco Systems and Sequoia Capital India, besides founder Bipin Preet Singh. MobiKwik is the latest among tech majors wanting to list on stock exchanges. Food delivery start-up Zomato will launch its IPO on Wednesday.
These include increasing the public float in listed companies to 35 per cent from 25 per cent, increasing the minimum statutory limit for FPI investment in a firm from 24 per cent to the sectoral foreign investment, and lowering government holding in listed public sector undertakings.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Be a disciplined investor for attractive returns, says fund managers.
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
Sebi proposes to relax ownership rules to allow more entrants in the exchange space, which is seeing a disruption globally with the emergence of new technologies such as block chain.
At this point of time, the requirement of the economy is obviously more investment, which will create more jobs and increase purchasing power that will sustain a high level of production, says K M Chandrasekhar.
Zerodha will not raise external funds now or in the future, because it is profitable and has zero debt.
Digital payments provider Paytm is all set to make its market debut as early as this year, with an aim to raise $3 billion (around Rs 22,000 crore). If successful, this could be the biggest initial public offering (IPO) by an Indian company, breaking Coal India's 2010 record of Rs 15,475 crore. According to media reports, the board of One97, parent company of Paytm, is all set to meet this Friday to formally approve the IPO plan.
Sebi's stewardship code for mutual funds and alternative investment funds lays down six principles to improve corporate governance standards in their investee companies, reports Jash Kriplani.
Maybe Modi could ask a patriarch of the stature of the late G D Birla to flesh out the details of a new company to manage government land privatisation.
The IPL, which was perhaps the biggest gamble of his life, turned out to be the biggest success story ever, making Lalit Modi a cult in the echelons of global sport.
The Indian State's arbitrariness may have come to be accepted with resignation within the country, but when it behaves in the same manner with external players, it gets a push-back, observes T N Ninan.
RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation, and Suryoday Small Finance Bank are among the companies looking to tap the market.
It is alleged that the company floated 32 subsidiaries in several tax haven countries to bring foreign funds to India through sham transactions.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
For Pinarayi, a victory in Thrikkakara would have come as public endorsement of his development initiatives, including controversial K-Rail project, which has witnessed widespread protest
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
As the feud continues between Zee and Invesco, appellate body NCLAT on Thursday directed the National Company Law Tribunal (NCLT) to give reasonable opportunity to the media major to reply to Invesco's plea for holding a meeting of shareholders, and also remarked that the tribunal made an "error" by not providing sufficient response time. With the order capping a day of fast legal developments at the NCLAT as well as the NCLT within a span of a little over an hour, the spat between Zee Entertainment Enterprises Ltd (ZEEL) and minority shareholder Invesco will now come up for hearing before the NCLT on Friday. Invesco is seeking the ouster of ZEEL MD and CEO Punit Goenka and appointment of six new directors on its board.
India's stock exchanges have decided to jointly introduce the T+1 settlement cycle in phases from February 25, beginning with the bottom 100 stocks by market capitalisation. From March 2022, on the last Friday (or the immediate next trading day) of every month, the next 500 stocks from the bottom will be subject to T+1 settlement. The phase-wise implementation is expected to give all market participants, including foreign portfolio investors (FPIs), ample time to shift to the shorter cycle. The settlement cycle represents the time period within which the stock exchanges have to settle security transactions.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
'In May 2020-2021, nearly 10 crores (100 million) lost jobs. 'Covid is not the reason for the present crisis. It aggravated the crisis.'
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 account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
To participate in an OFS, investors will have to open a trading A/C
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
The company will now focus on value creation for shareholders in the defence and construction businesses.
Don't look for a volunteering job for money, but as an investment for life, advises management consultant Virender Kapoor.
Once stability returns to the secondary market, companies that have obtained approval from Sebi will start tapping the market.
If convicted, the offences entail a maximum punishment of seven years.
The group, headed by former RBI deputy governor H R Khan, has also pitched for liberalised investment cap, review of prohibited sectors for foreign investment for FPIs, permitting FPIs for off-market transactions and review of restriction on sovereign wealth funds for investment in corporate debt securities.
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