Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
United Bank of India has drawn up plans to float an initial public offer in December this year, bank chairman and managing director S C Gupta said on Monday. The government had already approved the capital restructuring exercise of the bank, he said on the sidelines of the Ficci Banking Conclave in Kolkata.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
In a boost to the electric vehicle boom in India, Taiwanese major Hon Hai Technology Group (aka Foxconn) is likely to set up an EV manufacturing unit in India through its subsidiary Foxtron. Amid speculation that the company may look at Tamil Nadu and probably the Ford India unit near Chennai for its new facility, sources indicate that the group was already betting big in the electric vehicle component space in India through Bharat FIH, which is already having a tie up with companies like Ola Electric and Ather. Bharat FIH currently has two manufacturing units in Tamil Nadu's Sriperumbudur that manufactures phones like Apple iPhones and Xiaomi phones.
India's largest ever public offer to raise up to Rs 15,000 crore (Rs 150 billion) will hit the market by the third week of October.
Govt concerned about market conditions ahead of REC IPO as three major IPOs were withdrawn in January and few others have been shelved.
Union Power Minister Sushil Kumar Shinde on Thursday said state-owned hydro-electric giant NHPC will come out with its initial public offering (IPO) within two months.
Patience can be rewarding. 'Post-listing, sanity often returns to valuations of newly-listed businesses within six to nine months. Buy then.'
The Securities and Exchange Board of India's (Sebi's) proposal to re-introduce "hard underwriting" is seen as step to boost India's moribund initial public offering (IPO) markets. The regulator has proposed that in case an IPO fails to garner full subscription, the investment banker or a third-party can buy the unsubscribed shares. This practice was common during fixed-price issues prior to 1999. However, under the new book building regime, underwriting is allowed only to the extent of shortfall due to technical rejection of bids - this is referred to as "soft underwriting" and is rarely invoked.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Amid volatility in stock markets generated by tension between Russia and the US over Ukraine, LIC chairman M R Kumar on Monday said that the insurance behemoth was watching the geo-political situation carefully, though it was keen on listing of the IPO in March. The Life Insurance Corporation (LIC) has already filed the DRHP with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). "We are watching the situation closely and carefully...but we are very keen on having listing in March," Kumar said, when asked about the impact of the evolving geopolitical situation on the upcoming IPO.
Real estate giant DLF on Wednesday revived the process of entering the capital market through its initial public offer, being touted as the country's largest, to raise about Rs 13,600 crore
NHPC would infuse 10 per cent fresh equity through this public offer to raise Rs 1,680 crore (Rs 16.8 billion), while the government will divest its five per cent stake in the company.
SoftBank-backed hospitality major OYO is planning to reduce the number of shares it aims to sell through public listing because of reduced capital requirements and technology headwinds. This comes at a time when valuations of start-ups, including that of OYO, have taken a hit. "OYO earlier filed papers for its IPO (initial public offering) based on its funding requirements at the time.
NHPC plans to issue 10 per cent of its new equity shares in the public offer, while the government alongside will divest its five per cent stake in the company. According to the listing norms by market regulator Sebi, independent directors should form 50 per cent of the board which is headed by executive chairman. To meet Sebi norms, NHPC should have seven independent directors on board before it can go to the market.
India Inc seems to be in top gear when it comes to raising funds from the domestic and overseas markets with plans to accumulate over 10 billion dollars in the month of June alone.
The Rs 702-crore IPO received bids for 2,93,41,84,140 shares against the total issue size of 2,32,59,550 shares, according to data available till 3.30 pm on Wednesday.
State-run Coal India Ltd is likely to hit the market by the third week of October with India's largest ever public offer to raise up to Rs 15,000 crore (Rs 150 billion).
Securities Appellate Tribunal on Monday adjourned its hearing till January 21, on complaints against Anil Ambani group's $3-billion Reliance Power IPO, scheduled to hit the market on Tuesday. On January 4, SAT had refused to stay the Initial Public Offer, while saying that it would consider the issue on January 14.
Capital markets regulator Sebi has kept the proposed Rs 4,500-crore initial share-sale of edible oil major Adani Wilmar Ltd (AWL) in "abeyance". However, the Securities and Exchange Board of India (Sebi) did not clarify further. The company had filed preliminary papers with Sebi on August 3, to raise funds through an initial public offering (IPO).
The government is considering the option of diluting its stake in state-owned banks through public offers, a senior finance ministry official said on Tuesday.
In spite of burgeoning initial public offerings, fund mobilisation by Indian companies through debt and equity issues in the year grew only 14 per cent, against close to 40 per cent in each of the earlier three financial years.
The company proposes to issue 130 crore equity shares of Rs 2 each, which would constitute 11.5 per cent of its post issue share capital, Reliance Energy, the parent company, said in a filing to the Bombay Stock Exchange.
'We will continue to build new engines of growth in terms of innovations, enter newer categories, and look at newer propositions.'
Global investors have cited the ongoing war and high valuations of Indian equity markets as a reason to skip the IPO.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
Future Cap's IPO was subscribed 8 times over on the second day of is issue.
Buoyed by the overwhelming response to the public offer for its stake in Maruti, the government on Thursday decided to sell its remaining shares to public in the five privatised companies.
In a filing with the US Security and Exchange Commission on Friday, Walmart said it would allow the initial public offering of Flipkart in four years at a valuation no less than what it invested in the e-commerce firm, if a grouping of minority shareholders asks for it.
Let's take a look at some of the biggest IPOs floated by Internet companies.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Jet Airways (India) termed the allegation made by Nancy Heckerman of US-based aviation outfit that money raised by Jet through public offer was pumped into the market through the 'hawala' route as "baseless".
Facebook is seeking to raise $5 billion.
Ever since the Life Insurance Corporation (LIC) announced launching the initial public offering (IPO), 6.48 crore LIC policyholders have shown interest to get the much-touted share of the largest insurance company in the country, an official said. "The response to our IPO launch is wonderful. We have some figures: 6.48 crore policy holders have linked their PAN number with the policy details up to the cut-off date (February 28, 2022)," Rahul Jain, director of the Department of Investment and Public Asset Management (DIPAM) in the Ministry of Finance, told reporters. The LIC has set a price band of Rs 902-Rs 949 per equity share. The government intends to raise Rs 21,000 crore through the issue.
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