Aiming to garner over Rs 15,000 crore (Rs 150 billion) through the largest ever public offering in India, the government on Tuesday decided to price Coal India's IPO in the range of Rs 225-245 a share for divesting its 10 per cent stake.
Mergers and amalgamations will grow and deal sizes increase as the Indian economy expands, Venkat Anantharaman, managing director responsible for mergers and amalgamations, leveraged finance and equity corporate finance at Standard Chartered Bank in Mumbai, tells Sumit Sharma in an interview.
Sebi had acted against 10 brokerages after over 10,000 investors failed to get shares in last year's Coal India IPO in spite of legitimate applications.
The Bombay Stock Exchange's benchmark Sensex is likely to hit the much awaited psychological level of 21,000 this week, driven by the smart Reliance numbers and expectations of robust listing of the Coal India IPO, say analysts.
The government expects to raise up to Rs 12,000-15,000 crore (Rs 120-150 billion) through Coal India IPO, billed as the country's largest ever.
Coal India IPO has become a runaway success, beating all records to become the largest public issue in India.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
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