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.
Under the new model, the surplus distribution in the participating policyholders' fund has been modified to 90:10 in a phased manner, wherein 90 per cent will go to policyholders and 10 per cent to shareholders. Further, 100 per cent of the surplus generated out of the non-participating business will be available for distribution to all shareholders.
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.
At the customary post-Budget media interactions, Finance Minister Nirmala Sitharaman and her topmost bureaucrats touched upon a number of issues. The minister said the government taxing income from digital virtual assets did not give them legitimacy and that issue was being dealt separately in the planned cryptocurrency Bill. She also expressed confidence that the Budget targets were achievable.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
"Who was preventing them? The Gandhi family," he alleged. "The matter starts and ends at the door of 10, Janpath."
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
The $8.5 billion TVS Group received final approval for a family resettlement on February 4 from the National Company Law Tribunal (NCLT). It is an arrangement that is noteworthy because unlike many other corporate settlements this one was sorted out amicably and without any open conflicts.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
Market experts said disruptions caused by the pandemic - to businesses as well as the filing process - and the sharp decline in valuations were the reasons behind fewer new companies wanting to tap the capital markets.
These include Great Eastern Energy Corporation and Shemaroo Entertainment.
BSE says all requirements complied with.
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
Save Women's Sport Australasia, a group opposed to transgender women competing in women's sports, said Hubbard's selection was allowed by "flawed policy from the IOC".
And yet the sham drags on for a couple of hours, accusing and amplifying everything in sight, to shoehorn its identity as a thriller, says Sukanya Verma.
911 have been traced by the Securities and Exchange Board of India (Sebi), while the rest of the 402 are not traceable on the bourses
The other three airlines that have been probed in this matter are SpiceJet, GoAir and Air India
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
This Mohanlal suspense drama may well go down as yet another modern day classic, raves Joginder Tuteja.
Vadra launched Skylight Hospitality four months after the DLF shares got listed, amid complaints of inadequate disclosure from investor associations and former business partner Kimsuk Krishna Sinha.
'Bypass Road goes around in circles and gets nowhere,' declares Sukanya Verma.
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
BJP president Amit Shah's influence in the Narendra Modi cabinet revamp was evident from the inclusion of Jagat Prakash Nadda, Rajiv Pratap Rudy, Mukhtar Abbas Naqvi and Rajyavardhan Singh Rathore.
Markets regulator Sebi on Tuesday proposed to rationalise the definition of 'promoter group' and move to the concept of 'person in control' as well as reduce the minimum lock-in periods for promoters' and other shareholders post an IPO. In a consultation paper, the watchdog has also suggested streamlining the disclosures requirement of group companies. The Securities and Exchange Board of India (Sebi) has sough comments from public on the proposals till June 10.
The airline is gearing up to come out with an initial public offer.
The former IPL boss took to Twitter to claim that he met Priyanka Gandhi and her husband Robert Vadra in London last year.
Move aimed at giving more headroom to foreign investors.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
It's like Agatha Christie walked into Roman Polanski's Chinatown conversing in Vishal Bhardwaj with a smattering of Brian De Palma for razzle-dazzle -- the upshot is mesmeric, raves Sukanya Verma.
Long-haul low-cost carriers like Scoot and AirAsia X offer a similar configuration.
Adding oomph to an ageing brand?. When the first wrinkles appear, the search for the fountain of youth must begin!
IndiGo has about 400 planes on order.
A diet rich in vegetables and fruits can help regulate blood pressure, reduce the risk of heart disease and stroke, prevent colon cancer, lower risk of eye and digestive problems, regulate diabetes and can help keep appetite in check, suggests Dr Eileen Canday.
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