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.
Finance Ministry is planning to dilute its stake in seven or eight government companies.
The growing decline of MTech applicants in Indian colleges is due to multiple factors, including outdated curricula, poor return on investment and lucrative non-engineering alternatives, say experts.
The shareholders have approved raising of Rs 12,000 crore during the initial public offer and sale of secondary shares will take the total amount to Rs 16,600 crore. "Shareholders have approved all the proposals at the extraordinary general meeting. "The shareholders have approved the proposal to raise capital and the fresh issue of shares of up to Rs 12,000 crore during the IPO.
Facebook made history by launching one of the largest initial public offerings.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
After raising Rs 1,600 crore through an initial public offer in August, the Hyderabad-based company on October 4 terminated the services of Gurumani four years ahead of the expiry of contract and named M R Rao as his successor. Gurumani had a five-year contract starting from April 1, 2009.
Shares reserved for Qualified Institutional Buyers (QIB), including banks and mutual funds in the LIC's public offer were subscribed fully on Monday morning, taking the overall subscription of the issue to a little over 2 times. Against 3,95,31,236 reserved, 4,61,62,185 bids were received, reflecting a subscription of 1.17 times, according to data posted on stock exchanges at 12:12 pm. Non institutional investors' portion was subscribed 1.38 times.
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
The shift to a shorter T+3 settlement cycle for initial public offerings (IPOs) will be a big test of the domestic market structure, requiring players in the ecosystem to work harder to meet the squeezed timelines, according to industry insiders. The Securities and Exchange Board of India (Sebi), has announced that the transition to the T+3 cycle will be voluntary starting next month and mandatory from December 1. The new mechanism will necessitate quicker confirmations from banks and speedy verification of permanent account numbers (PANs) for all applicants.
On Tuesday, when the Power Finance Corporation (PFC) follow-on public offer (FPO) had opened for subscription, many investors would have been wondering if it was a good time to enter the stock.
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
India's opposition parties have sharply criticized the Union Budget, calling it inadequate to address the country's economic woes and accusing the BJP-led government of using it to woo voters in Bihar and Delhi ahead of upcoming elections. Leaders from the Congress, TMC, DMK, SP, and CPI(M) voiced their disapproval, highlighting concerns over inflation, unemployment, and the lack of substantial measures to support the agricultural sector and the poor. They also criticized the tax cuts for the middle class as insufficient and coming too late after years of high taxes and rising prices.
The government is planning to soon file the final papers for LIC IPO with market regulator Sebi, which will provide details about the price band, discount for policyholders and retail buyers, and the actual number of shares to be put on the block, an official said. The government is presently in the wait-and-watch mode because of the market volatility induced by the Russia-Ukraine war and will decide on the timing of the initial public offering (IPO) of Life Insurance Corporation (LIC). "We have got the approval of the DRHP and the next step would be to file the RHP, which will give details of the price band and the actual number of shares.
NSE managing director and CEO Vikram Limaye on Wednesday said that he will not seek a second term at the stock exchange when his five-year term ends in July. This comes amid the National Stock Exchange (NSE) facing the regulatory probe in a case related to governance lapses at the bourse as well as in the co-location matter. "I have informed the board that I am not interested in pursuing a second term and will therefore not be applying and participating in the process that is underway. My tenure ends on July 16, 2022," Limaye said in a statement.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The Supreme Court on Friday junked a public interest litigation (PIL) seeking a Central Bureau of Investigation (CBI) probe into alleged use of animal fat in making Tirupati laddus under the previous Y S Jagan Mohan Reddy-led regime.
An analysis of the BSE-listed companies shows that as many as 44 out of the 69 stocks are trading below their issue prices fixed after their initial public offers.
Kumar also said exit polls create a huge distraction by raising expectations and it was a matter for self-introspection for the media, particularly electronic media.
With such announcements grabbing the voters' attention, critical issues like pollution, especially the smog that chokes Delhi every winter, remain largely unaddressed. Many residents have raised concerns over the lack of concrete action plans to combat air pollution, which continues to pose a severe health risk to Delhiites.
Beauty and Personal Care (BPC) e-retailer Honasa Consumer's initial public offering (IPO) has failed to find backing from analysts due to the company's weak financial track record and expensive valuation. T Manish, research analyst at Samco Securities suggests avoiding the IPO as the company's financial performance does not inspire confidence. "The profit has been inconsistent and advertising and marketing expenses are incredibly high at around 40 per cent of the revenues.
The Mahindra Holidays initial public offer --the third public float in the current year and the single largest issue over the last 12 months--was subscribed 11 times and four companies raised an estimated Rs 4,000 crore yesterday through QIPs. This came after realtor Unitech's announcement on Friday that it has raised over Rs 2,700 crore via a QIP at Rs 81 a share.
There is a strong hint that the proposed IPO will be of 11 per cent instead of the earlier plan of 15 per cent (10 per cent public, 2 per cent employees and 3 per cent land losers).
The initial public offers of eight small and medium scale companies, including Cantabil Retail and Ramky Infrastructure, are opening this week.
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
Enterprising women business correspondents, known as BC Sakhis, have facilitated transactions worth Rs 27,000 crore in Uttar Pradesh, earning Rs 75 crore in commission over the past four and a half years. BC Sakhis, appointed under the nationwide women empowerment programme, are members of self-help groups (SHGs) who are trained and certified to provide banking and financial services in rural areas.
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.
The massive victory of Bharatiya Janata Party-led Mahayuti in Maharashtra indicates a tactical course correction post the Lok Sabha debacle, with factors like Rashtriya Swayamsevak Sangh's active role in the poll campaign, Ladki Bahin scheme, rise in women voting, and subtle message of Hindutva playing a crucial role.
Fresh capital raised by companies by way of initial public offerings (IPOs) is set to hit a 14-year high, thanks mainly to Zomato's maiden offering. India Inc has raised about Rs 19,300 crore in fresh capital by maiden offerings, including the Rs 9,000 crore the food delivery company will raise this week, so far in 2021. The best year in terms of fresh fund-raise was 2007, when companies had raised Rs 32,102 crore. With Paytm planning to issue fresh shares worth Rs 12,000 crore, the domestic market looks set to surpass that tally this year.
The Centre is unlikely to reduce its shareholding in Life Insurance Corporation of India (LIC) for at least 2 years following the insurer's listing because such a move could affect returns for investors participating in the mega initial public offering (IPO). The government's stance was communicated to prospective investors during roadshows after many of them sought clarity on the Centre's plan for lowering its shareholding in the insurer to meet the minimum public shareholding norms. To this, the Centre maintained its stand that it would not look at any equity dilution in the insurer for at least two years to avoid downward pressure on LIC's shares.
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.
Hospitality and travel-tech firm OYO is looking to launch its initial public offer after September and has written to stock market regulator Sebi, seeking to file updated and restated consolidated financial information. The company, which had filed preliminary papers with Sebi to raise Rs 8,430 crore through an initial share sale in October last year, is now prepared to settle for a lower valuation of around $7-8 billion against the $11 billion it was targeting initially, according to people in the know of the development. OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market, they said.
Govt concerned about market conditions ahead of REC IPO as three major IPOs were withdrawn in January and few others have been shelved.
The first quarter of calendar 2023 will see new faces heading four large public-sector banks -- Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
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.
