Unless unique, avoid investing in IPOs.
Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said. The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources. According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
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.
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
The Centre has set a steep divestment target of Rs 80,000 crore for 2018-19. In the first six months, it has managed to mop up less than Rs 10,000 crore.
Investors lapped it up a day ahead of its closure.
Most e-commerce firms with 'Singapore holding structures' would opt out of the new Sebi platform
Standard Chartered Plc's Rs 2,760-crore (Rs 27.60 billion) maiden Indian depository receipt (IDR) issue got a robust demand from investors on the final day of the offer on Friday and got subscribed a good 2.19 times with most of the bids coming in from qualified institutional buyers (QIBs).
The Securities and Exchange Board of India has recommended reservation for domestic mutual funds within the quota allocated for "anchor investors" in initial public offers.
It works like this. There is a section in the US called 144A securities, which was launched in August 15, 2007. Trading in 144A securities takes place only among qualified brokers, dealers and QIBs. Retail investors cannot participate in this segment.
"The decision has been taken due to prevailing adverse market condition...although the QIB and HNI portions of the IPO were fully subscribed and the overall book was closed to 90 per cent," the company said in a statement.
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.
In spite of a curb on P-notes and markets being generally volatile throughout November, IPOs have bucked the trend by most of them getting listed at a premium. It seems that FIIs have entered more aggressively into primary market after this move.
Torrent Power (up 19.25 per cent) and GVK Power and Infrastructure (up 12.22 per cent) have seen a dramatic rise in the run up to PGCIL issue.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times.
In each public issue, 25 per cent of the shares on offer are reserved for the retail investor.
The initial public offer of Info Edge (India) Ltd, owner of job portal Naukri.com, has received an enthusiastic response from investors with the issue getting subscribed by more than five times on the second day itself.
The much-awaited TCS IPO opened on Thursday, to a lukewarm response. The offer has been subscribed 91.08 per cent on the first day, and most bids are at Rs 775.
Going ahead, experts say, the fundraising trend in the primary market will depend on how the secondary market performs against the backdrop of the outcome of general elections and global cues.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
IndiGo has a fleet of 98 aircraft and about 75 of them are on operating lease.
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
US and European institutional investors bought a majority of shares in the over Rs 4,800 crore (Rs 48 billion) QIP offering by telecom operator Reliance Communications.
The regulations will only apply to the share purchases that have been done after October 1, 2004
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
'The ability to tailor schemes to market conditions and invest in unlisted equity and real estate, as well as commodities, makes Alternative Investment Funds a sought after platform.'
Ashok Leyland, ITD Cementation India have more than doubled.
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Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
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