Shares of Infosys surged nearly 4 per cent on Wednesday, a day before the opening of the tender window for its Rs 18,000-crore share repurchase programme. The buyback, which will see the company repurchase 100 million outstanding shares at Rs 1,800 each, will remain open until November 26.
The initial public offering of non-banking financial company Tata Capital Ltd got fully subscribed on the final day of bidding on Wednesday. The company's Rs 15,512 crore share sale received bids for 45,84,78,044 shares against 33,34,36,996 shares on offer, translating into 1.38 times subscription, according to NSE data till 13:36 hours.
Non-banking financial company (NBFC) Tata Capital is set to launch its much-anticipated $2 billion (Rs 17,200 crore) initial public offering (IPO) in the week beginning September 22, market sources familiar with the matter said on Sunday. The issue is expected to value the company around $11 billion, they added. Tata Capital is likely to make its stock market debut by September 30.
Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to invest Rs 75,000 crore ($9 billion) each into its new energy business and petrochemical expansion, according to a company presentation. In its FY25 result statement, Ambani said the company has laid a strong foundation for its projects in renewable energy and battery operations. "In the coming quarters, we will see the transition of this business from incubation to operationalisation.
Backing embattled Adani Group, rating agency CRISIL Ratings on Friday said the conglomerate has sufficient liquidity and operational cash flows to meet debt obligations and committed capex and that there has been no negative actions so far by lenders and investors following the US indictment of group founder chairman. The Adani Group, which has the flexibility to reduce certain discretionary capital expenditure (capex) depending on developments in financial markets and future capital availability, has a healthy Ebitda and cash balance that reduces its dependence on external debt to sustain operations, it said in a bulletin.
Future Capital IPO was fully subscribed within four hours of its opening. The company is expected to raise Rs 490 crore through the IPO.
Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1 per cent stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49 per cent shareholding.
Future Capital Holdings has decided to venture into the hedge fund business in the next three months.
Future Capital Holdings has had a troubled past, but Vice-Chairman & Managing Director V Vaidyanathan has an ambitious gameplan. Can he pull it off?
Future Capital will be the first company to hit capital market as it is set to release its IPO at a fixed price band of Rs 700-765 per share.
Kishore Biyani-promoted Future Capital Holdings has received the regulatory go-ahead from Sebi for its initial public offer, estimated to raise between Rs 400-500 crore (Rs 4-5 billion).
The Rs 6,560-crore initial public offer of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers. The initial share sale had a price band for the offer at Rs 66-70 per share.
According to the agreement, Pantaloon Retail India, along with its wholly owned subsidiary Future Value Retail, would sell its stake in FCH.
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 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.
PB Fintech, the parent of Policybazaar and Paisabazaar, has set a price band of Rs 940-950 apiece for its initial public offering (IPO), which will open on November 1 and close on November 3. The company may be valued at around Rs 44,000 crore, and looking to raise an amount of around Rs 5,826 crore. The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.
With the Indian economy expected to emerge as the third largest by 2030, investors have earmarked significant capital to actively participate in the India growth story.
Deccan Chronicle's ventures into niche aviation and IPL seem to be cause of its troubles Could the strange twists and turns in the relationship between the Deccan Chronicle and Kishore Biyani-controlled Future Capital be simply coincidental?
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
National badminton coach Pullela Gopichand feels Indian athletes no longer have to worry about the basic facilities that he had to struggle for in his playing days.
The chairman of mortgage giant HDFC Ltd in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Trade deficit falls, inflation steady, but industry is still frozen.
Planning for your child's future is very crucial to your child's well-being. There are certain points which one should keep in mind before choosing the investment options as it will help you generate optimum capital in future.
Vaidyanathan, former managing director and CEO of ICICI Prudential Life Insurance, as a sign-on bonus got 20 lakh (2 million) warrants worth Rs 47.40 crore (Rs 474 million), DNA said.
Vaidyanathan's compensation is 'a performance-linked booty'.
'Anything you buy from any Future outlet should have financing options by us'
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
V Vaidyanathan joins a growing list of top executives getting a sumptuous sign-on bonus
The NSE Nifty closes at 5,134, up 22 points. Global markets are trading mixed; European markets are marginally in the green while the US index futures are flat.
Real estate companies such as Unitech, Peninsula Land, HDIL and Future Capital, the financial services arm of Future Group, are in talks with investors including some leading private equity funds for raising investments for their projects, after the collapse of Lehman Brothers, whose third party fund had promised investments in these property companies' projects, according to industry sources.
Bill Gates, chairman of Microsoft Corp, has been given the 'Most Innovative People Award for Technology Innovation' in recognition of his success in revolutionising the way personal computers and MS software fit into everyday life.
Deccan Chronicle had taken a Rs 170-crore loan from Future Capital and Rs 100-crore loan from Tata Capital.
L&T is planning a foray in PE fund in the real estate market with a Rs 4500 crore fund.
Future Capital Holding disclosed its plans to enter asset management and retail broking. A credit card tie up with ICICI bank is also in the pipeline.
All those who have argued that the circle of prosperity is widening, and that it now encompasses the smaller towns, semi-urban areas and even villages, have to reckon with the hard reality that the financial surpluses continue to be in the big cities. As places where the leading companies operate, where the best jobs are available and where good support services exist (including educational opportunities and quality medical care), the big cities will continue to score.
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.
Reliance Power is being touted as India's biggest ever IPO with an estimated size of over $3 billion, surpassing just over $2 billion raised by DLF. This would be the first ever IPO from Anil Ambani group after being carved out from the erstwhile Reliance empire in 2005.
The big flops of the year -- Reliance Power and Future Capital Holdings -- are currently available at 25 per cent below their issue price. The other major post-listing losers include BGR Energy, Shriram EPC, J Kumar Infraprojects and KNR Constructions. Among the smaller issues, Precision Pipes and Profiles, Manaksia, and Porwal Auto Components are currently available at 50 per cent below their issue prices.
Initial public offerings and the profits made from it has been a hot topic of discussion in recent weeks. Here's a look at what you must know before applying for that 'hot' IPO.
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