The value of MF exposure to REITs and InvITs which was at Rs 734 crore at the end of March 2020, rose to Rs 5,200 crore by the end of March 2023.
Carmaker Maruti Udyog Ltd has fixed June 12 as the date for opening the books for its much-awaited public offering and the offer would close on June 19.\n\n\n\n
Tata Indica, the Tata Group's big passenger car bet, was not delivering expected returns a year into its launch. Desperate, the Tata Motors brass, led by Ratan Tata, acceded to a meeting request from Ford Motors for a possible sale of the passenger vehicles division to the American auto major. Some people had advised Tata to sell the business, and the Ford officials came to Bombay House to hold talks.
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.
According to sources, Reliance Infratel would offer 10 per cent equity to the public valued at Rs 5,000-6,000 crore (Rs 50-60 billion). Reliance Infratel is the telecom infrastructure division of Reliance Communications Ltd.
Facebook is seeking to raise $5 billion.
'Auto, pharma, and industrials have delivered well in the recent quarter, while businesses like quick-service restaurants, consumer staples, and durables have underperformed in volume growth.'
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.
Let's take a look at world's top stock exchanges by IPO value in 2012.
Media and entertainment company UTV Software Communications Ltd has filed a draft prospectus with the Securities and Exchange Board of India for its initial public offer for 59.99 lakh (5.99 million) shares of Rs 10 each.
The success of recent IPOs and the stability in the secondary market are propelling many firms and investment bankers to remove their IPO plans.
Air Deccan, which first started operations in March 2003, would float its maiden public offer by the middle of next year, a senior company official said.
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
The public issue pipeline is at its driest in two years. According to the website of market regulator Sebi, only 11 companies have filed for initial public offerings between April and June.
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.
A senior official from the Department of Disinvestment told Business Standard it was decided in a meeting on Thursday that the fresh date for RINL's IPO would be in the third or fourth week of July.
Indian Airlines' board has decided in-principle to tap the capital market through a public offer.
Amid escalating tensions over the Sinjauli mosque in Shimla, a Muslim welfare committee on Thursday urged the municipal commissioner to seal the unauthorised portion and also offered to demolish it in accordance with a court order.
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).
Investors lapped it up a day ahead of its closure.
Tata Consultancy Services' (TCS') contribution to the overall market capitalisation (mcap) of listed Tata group companies has slipped below 50 per cent for the first time in over a decade. This has happened amid a rally in other Tata stocks, led by smaller companies, even as TCS, the group's largest company by mcap, has lagged. In recent quarters, Tata's listed firms have emerged as leading performers on the bourses, with the group's combined mcap crossing Rs 30 trillion early last week - a first for a private sector conglomerate.
The legal battle between Byju's and lenders in the US on the edtech firm's $1.2-billion term loan B (TLB), along with the company skipping an interest payment of $40 million on the loan, has made the other investor Davidson Kempner Capital Management, "extremely concerned", according to the people familiar with the matter. They said Byju's has closed a Rs 2,000-crore ($250 million) round from the US-based investment firm and it may stop or consider slowing down the flow of various tranches of that capital to the company. It may also decide not to provide any new funding or participate in any such round in the future, the sources said.
Indian sweet, snack, and restaurant chain group Bikanervala, with revenues of over Rs 3,000 crore, is working towards an initial public offering (IPO) for its food company in the next three years. Before that, it could also bring in private equity (PE) investors. The low-profile Aggarwal family-owned group company, Bikanervala Foods (which also sells under the brand name Bikano), operates in the snack business.
An investment banker handling the PSU issues said, "When employees pick application forms, these typically have stamps of brokers. But there was no clarity who will bear the cost. Now with this provision, government will pay 25 bps. It is lesser than retail because there is often no marketing effort from the broker, as a lot of it is done by the company itself."
Seeking to raise $5 billion, social networking giant Facebook has filed for its long awaited initial public offering.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
The National Medical Commission (NMC) has initiated the process of registration of all MBBS doctors eligible to practice in India on a recently launched portal, as a part of which all medical practitioners will have a unique ID.
The much-awaited public offering of the shares of auto major Maruti Udyog Ltd has cleared another major hurdle with the Securities and Exchange Board of India approving the draft prospectus for the initial public offer.
The government has sought details from National Thermal Power Corporation for its proposed public offer for increasing equity by up to five per cent
E-commerce player Meesho, backed by marquee investors like SoftBank Group and Meta Platforms, will look at an initial public offering (IPO) only in 2025, and till then, its focus will be on generating profits after tax and not just on being Ebitda (earnings before interest, tax, depreciation and amortisation)-positive, top sources in the company told Business Standard in New Delhi. In a clear shift of strategy, the company, which has reduced its cash burn by 85 per cent, is now looking to trim its annual revenue growth target to 40 per cent from the 100-plus per cent earlier. The sources, however, said even this level of growth was far higher than that of most e-commerce companies.
Earlier, the regulator only mandated disclosures and issued observations. It was on an investor to read the disclosures carefully and take an informed decision.
China's e-commerce giant Alibaba, which completed the world's largest initial public offering ever this month, has won approval from authorities in Beijing to establish a private bank as it diversify into financial services.
Her reasoning is simple, "It's a Tata company. No shareholder will let go of this opportunity," she told Business Standard. When asked if the other reason for lining up for the IPO is the technology sector and the fact that the combination of Tata and tech is happening after almost two decades, she replied: "The name of the company and the group matter. Tata means stability and credibility," she added.
Bharti Infratel is a provider of telecom towers and related infrastructure and on a consolidated basis, is one of the largest in India, "based on the number of towers that Bharti Infratel owns and operates and the number of towers owned or operated by Indus, that are represented by Bharti Infratel's 42 per cent equity interest in Indus," according to the offer document.
The fees charged by investment banks to manage initial public offerings (IPOs) have increased to an average 3.23 per cent of the issue size this calendar year, the highest since 2020. The average fee is up 8 per cent compared to last year, when it stood at 2.99 per cent. The investment banking fees have increased as the average IPO size has shrunk this year.
