India's largest insurer LIC is likely to list on the stock exchanges on May 17, a week after its bumper initial public offering (IPO) closes. The government is selling over 22.13 crore shares in LIC at a price band of Rs 902-949 a piece in the initial public offering, which opens on May 4 and closes on May 9. As per the final papers filed with Sebi, the allotment of shares to the demat account of bidders will happen by May 16, post which LIC would commence trading of equity shares in the stock exchanges and list "on or about May 17".
Singapore government's sovereign wealth fund Temasek is looking to invest $10 billion in India during the next three years, Ravi Lambah, Temasek's head of India and strategic initiatives, said.
According to the railway ministry, this non-lethal yet effective tool will help women RPF personnel tackle challenging situations swiftly, particularly while safeguarding female passengers travelling alone or with children to ensure their safer train journeys.
'Binary fission will happen -- startups will lead to more startups.'
India fully utilised its military modernisation budget in 2024-2025 -- the first time in five years -- and signed a record Rs 2 trillion defence contracts.
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings.
The prospective bidders of Haldiram Snacks Foods (HSFPL), a leading food firm, have sought clarity on the ownership of the brand as it is currently owned by different family factions. The Delhi and Nagpur families have decided to merge their operations and formed a joint venture to sell part of their stake. On the other hand, the Kolkata family runs its separate, independent operations. Bankers said prospective bidders of the company do not want any confusion over the brand in future. They have sought clarity over usage of the brand.
In a bid to expedite the processing of initial public offerings (IPOs), the markets regulator will now seek additional information from lead managers (LMs) when they file draft documents. Last week, the Securities and Exchange Board of India (Sebi) sent a letter to bankers, listing over two dozens of new disclosure requirements. The average time Sebi takes to clear the draft red herring prospectus (DRHP) - a document companies must file before accessing public funds - has dropped to less than three months in 2024 (until May 31).
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
'No retaliatory tariffs now. You can retaliate after a few months.' 'Today, there is no need to retaliate because it is a question of long term benefits.'
Lavasa Corporation, the real estate arm of Hindustan Construction Company (HCC), filed a draft prospectus with the Securities and Exchange Board of India for an initial public offer (IPO), even after several developers have been keeping similar plans, after filing these, on hold for several months.
The race to acquire diversified fintech firm Religare Enterprise Limited (REL) intensified as Dabur group promoters, the Burman family, said it was going ahead with the open offer on Monday and claimed that the counter offer made by US-based businessman Digvijay Gaekwad wasn't valid and will not stand scrutiny of market regulator Sebi. The Burman family claimed that the competing offer falls outside the 15-day window stipulated by the Sebi takeover code, following their initial offer on October 4th, 2023.
Google Inc priced a follow-up stock offering of 14.16 million shares at $295, offering investors a slight discount from the online search engine leader's recent market value.
The launch of a range of electric motorbikes (e-bikes) by Bengaluru-based Ola Electric, a first for the company, has disconcerted the industry because the low price the firm claims to be offering has the potential to disrupt the market. On August 15, Ola unveiled its Roadster series e-bike with a starting-price at Rs 74,999. This new pricing undercuts the previous lowest price in the category, which was Rs 110,000.
'This case is not a good example of intellectual property strategy for either sector.'
Despite the tragic terror attack in Pahalgam, Kashmir, locals demonstrated incredible bravery and compassion, risking their own lives to save tourists. Syed Adil Hussain Shah, a pony 'wallah', was killed while protecting tourists from the gunmen, while Nazakat Ahmed Shah rescued a family of 11, including three children. Tourist guide Sajad Ahmad Bhat also carried injured people to the hospital. The attack, which claimed the lives of 26 people, mostly tourists, highlighted the resilience and kindness of the Kashmiri people.
In addition to regulatory actions against small and midcaps, tighter liquidity conditions are another headwind that stocks are facing this month. Market observers say advance tax outflows and capital gains-related adjustments will weigh on the markets in the near term.
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
Prominent exits by promoters included a Rs 15,300 crore share sale in Indus Tower by Vodafone Plc, a Rs 9,300 crore share sale by the Tata group in Tata Consultancy Services.
Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community. "Currently, there is no plan to extend the timings as Sebi has returned our application as the stock brokers have not given the feedback that Sebi wanted. "So, as of now, the extended time frame (plan) is shelved," NSE MD and CEO Ashishkumar Chauhan said in a post-earnings analysts call.
Prime Minister Narendra Modi visited the Mukhwa temple in Uttarakhand, the winter abode of Goddess Ganga, and offered prayers. The visit is expected to boost winter pilgrimage and tourism in the state. Modi also flagged off a trek and bike rally and addressed a public meeting in Harshil. This comes a day after the Cabinet Committee on Economic Affairs approved two major ropeway projects to Kedarnath and Hemkund Sahib worth over Rs 6,000 crore.
Can a culture survive as a way of life, even as the language and writing at its core, alter with time? Can we be rational and Malayalee or do we have to necessarily be religious and proudly cultural to be Malayalee? asks Shyam G Menon.
The Chinese financial giant, which had invested in One 97 Communications since 2015, has seen a sharp decline of 45 per cent, or Rs 2,125 crore, in its stake value since the Reserve Bank of India (RBI) took action against Paytm Payments Bank on January 31. One 97 shares closed at Rs 422.6 a share on Monday. The Chinese company, however, had sold its stake worth Rs 8,293 crore in three tranches over one year.
Shares of online food delivery aggregator Zomato rose above their initial public offering price after more than a year. The stock hit an intraday high of Rs 76.3 per share before settling at Rs 75.8. The company had priced its shares at Rs 76 during Rs 9,375-crore IPO in July 2021.
LIC's public offer, the country's biggest-ever IPO, saw the policyholders' portion being oversubscribed on the first day itself on Wednesday, though overall subscription stood at just 66 per cent. The government aims to generate about Rs 21,000 crore by selling 3.5 per cent stake in the insurance behemoth. The LIC initial public offering (IPO), open for retail and institutional investors, is set to close on May 9. The issue period also includes bidding on Saturday, May 7.
The total number of demat accounts in the country stood at 171.1 million as of August 31.
The Indian government as respondent in Sanjay Bhandari extradition case has sought permission from the London high court to appeal against the discharge of the defence sector consultant wanted in Delhi to face charges of alleged tax evasion and money laundering.
'He surprised us by telling us he wanted to make a career in acting.' 'We were scared since we knew nothing of this profession but then, he landed a role in Mira Nair's Monsoon Wedding.' 'After seeing him holding his own on screen, we decided to let the boy pursue his passion.'
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times.
Kamal has a crisp pen when it comes to writing short and yet powerful film dialogues. But while speaking ex tempore -- and that has been his style -- he looks every bit a confused man, observes N Sathiya Moorthy.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
Acutely conscious that he's left with less than four years to create his legacy, Trump is undoubtedly a man in a hurry, observes Ambassador M K Bhadrakumar.
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