Financial planners also believe that retail investors should avoid the IPOs or direct stock route because it is too risky for them.
Kishore Biyani-promoted Future group's venture capital arm, Future Ventures, has revived its plans to hit the capital market and will be initiating listing formalities by filing a prospectus with market regulator Sebi on Wednesday.
Kishore Biyani-led Future Retail Ltd (FRL) on Monday said it is "reviewing" the Delhi high court order that has rejected its plea to restrain Amazon from writing to regulatory authorities about the SIAC arbitral order against its asset sale under a Rs 24,713 crore deal with Reliance. FRL, in a regulatory filing, said it would submit a brief summary after consultation with legal advisors.
Indian stock market regulator, the Securities and Exchange Board of India, on Tuesday paved the way for Indian investors to trade in large indices of 24 global exchanges, including that of the United States, Europe and Asia.
Taking a cue from Zomato's stellar initial public offering (IPO), through which it garnered a valuation of Rs 1 trillion, the government has asked its advisors and valuers to ascertain if the Life Insurance Corporation of India (LIC) should be valued at Rs 10 trillion or more. The government is looking to offload about 10 per cent stake in LIC through the IPO. At that valuation, the government stands to net at least Rs 1 trillion from LIC's proposed IPO, which will boost the Centre's efforts to meet its disinvestment target of Rs 1.75 trillion for the current financial year.
The airline's 100 per cent shareholding in profit-making budget carrier Air India Express as well as 50 per cent shareholding in equal joint venture Air India SATS Airport Services would also be sold.
Over 900 listed firms yet to comply with new Sebi requirement due in less than 90 days
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
The court allowed the group to re-auction certain properties in Ajmer, Firozabad, Vellore, Tiruchirappalli and Ujjain for which the bidding was at a much higher price
The Ministry of Corporate Affairs (MCA) has shelved its idea of auditing the books of listed companies by independent auditors.
Institutional Investor Advisory Services had recommended investors to vote 'against' the proposal, while Stakeholders Empowerment Services asked investors to vote 'for' the proposal.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said. "It's a full blown war now so we will have to assess the situation for going ahead with the LIC IPO," a government source said. Finance Minister Nirmala Sitharaman, too, had indicated review of the IPO in view of the evolving geopolitical situation.
The issue of allowing trading in indices such as the Dow Jones and the S&P 500 on the National Stock Exchange (NSE) is being considered by the Reserve Bank of India (RBI).
Kishore Biyani-led Future Retail Ltd on Thursday accused e-commerce giant Amazon of adopting a media strategy of "having every development reported and converted into a line of communication with stock exchanges" regarding the Amazon-Future Coupons' arbitration proceedings in Singapore. The Court of Singapore International Arbitration Centre (SIAC) had turned down a plea of Future Retail Ltd (FRL) to be excluded from being a party to arbitration. In a regulatory filing disclosing the development, FRL said,"...this disclosure is being made out of abundant caution to avoid any speculation given Amazon's media strategy of having every development reported and converted into a line of communication with stock exchanges."
Public shareholders of Cairn India will lose out on a whopping Rs 3,570 crore (Rs 35.7 billion) to the promoters who would be only beneficiary of a non-compete fees to be paid by its suitor, London-listed Vedanta group.
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
A US Securities and Exchange Commission team is in India to probe the multi-crore rupee accounting fraud at NYSE-listed Satyam Computer and is taking the help of local agencies to this end.
Last October's circular meant that downstream investment by such funds by way of subscription or acquisition of shares would have been considered "indirect foreign investment" if their investment manager or sponsor is owned or controlled by a non-resident. The finance ministry has now said that mutual funds that invest more than 50 per cent in equity shall be omitted from the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
'You need to be careful about this.' 'Growth without fundamental principles is like fat.' 'Growth with good base and fundamentals is like muscles.'
In case they comply with the norms by April 14, they would not face trading suspension.
The payouts were 22 per cent lower than the previous year's tally of Rs 7,938 crore.
Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
BSE is world's largest exchange in terms of listed companies and figures among top 10 globally on various other parameters.
Sebi hopes to allow investors to hold subscription amounts for initial public offerings in their bank accounts until allotment. This is to cut the time between the stock sale and listing. Sebi chief said with the present technology it is possible to earmark the amount in the investor account itself and not have the money actually transferred. He said that there were a host of issues plaguing the IPO market and that it could see some action in the coming months.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
Promoters, who have a higher degree of accountability and public responsibility, should share more details about themselves.
The companies wanting to re-list on the bourses through a fresh public issue may have to submit a special corporate
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
The Chief Justice said that some people play with the dignity of the court and there were some lawyers who are disrespectful towards the court.
Under the new policy, external advice would be sought for related party transactions that are worth over Rs 2 crore and bidding process would be mandatory for any such contract.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
The proposed tax exemptions and benefits notwithstanding, these new investment instruments would still be 'revenue accretive' for the government in the form of additional taxes.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
