A 2019 investigation of Bombay Dyeing by market regulator Sebi has put a brake on the initial public offering process of sister company Go Air. The Wadia group-owned low cost airline had earlier planned to launch the IPO to raise Rs 3,600 crore by August, but may be forced to postpone it by a month or two as Sebi completes its investigation.
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.
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.
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.
It is also considering to mop-up Rs 50 crore through a pre-IPO placement.
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.
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.
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.
Incensed over the "planting of articles" and wrongful advertisements in the run up to a company's public offer, market regulator Sebi on Friday pulled up merchant bankers and said it is considering coming out with revised norms on IPO advertisements.
The Union cabinet had approved Coal India's IPO last month, to divest 10 per cent of the government's stake in the Navratna PSU.
The state-run mining giant NMDC on Monday filed the draft prospectus with the market regulator Sebi for its follow-on public offer, through which the government expects to mop up Rs 20,000 crore (Rs 200 billion).
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
Public sector exploration firm Oil India is likely to hit the capital market, with an initial public offering of 2.64 crore shares, in November.
Reliance group adopted a new name, Reliance Infratel, before filing DRHP for its IPO.
Reports have suggested Rs 400-650 as the possible IPO price
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
A Sebi spokesperson did not respond to an email seeking comments.
These firms are Avenue Supermarts, owner and operator of supermarket retail chain D-Mart; Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel; Shankara Building Product; BSE-promoted CDSL; and test-prep player C L Educate.
The other three airlines that have been probed in this matter are SpiceJet, GoAir and Air India
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
An exchange which preaches others on governance must start practising it first, says Shyamal Majumdar.
BSE is world's largest exchange in terms of listed companies and figures among top 10 globally on various other parameters.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances