Real estate major DLF Universal has withdrawn the draft red herring prospectus for its initial public offer and called off its $3 billion IPO.
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.
Shares of One97 Communications Ltd, Paytm's parent company, on Thursday made a tepid market debut, listing with a discount of over 9 per cent from the issue price of Rs 2,150.
Data shows almost all the initial public offers and the follow-on public offerings that hit the market in the current calendar year saw the employee quota receiving only a handful of applications, even as the overall issue was subscribed more than once.
Founded in 2004, by Mark Zuckerberg, 28, the technology company, announced the pricing of its initial public offering of 421,233,615 shares of its common stock at a price to the public of $38 per share.
India's largest initial public offering (IPO), to be floated by Coal India Ltd, is generating enormous interest in the grey market. Investment bankers and stockbrokers that control this unregulated market are already trading CIL shares at a Rs 10-12 premium - even before the price band or issue date have been officially announced.
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Work on disinvesting government holdings may gather pace after the first week of August. Administrative ministries of around 15 Public Sector Undertakings have been asked to give feedback on the feasibility of coming out with initial public offers by then.
Companies such as SAIL, ONGC, IOC and Hindustan Copper are waiting to hit the markets.
Met with lukewarm response from a volatile market, Wockhardt Hospitals withdrew its IPO. It received bids only for 19.5%.
The panel would be chaired by T V Mohandas Pai, formerly a senior executive at IT giant Infosys and currently Chairman of Manipal Global Education Services Pvt Ltd, Sebi has said.
Shares of Zomato on Friday zoomed nearly 53 per cent in its debut trade against its issue price of Rs 76. The stock made its debut at Rs 115, reflecting a huge gain of 51.31 per cent against the issue price on the BSE. It then hit a high of Rs 138, a jump of 81.57 per cent.
Billionaire money manager George Soros reported a nearly 2 percent stake in Manchester United Plc on Monday, in one of the first revelations of investors in the British soccer club's controversial initial public offering earlier this month.
A deal, where a founder has brought back stake from early investors before an initial public offering, is unheard of in India or pretty much anywhere else, analysts pointed out.
With the stock markets growing in size, this rule, which was framed eight years back, needs revision to allow such nominal dilution only if the IPOs are worth Rs 500 crore (Rs 5 billion) or above, according to experts. The rules require promoters to shed at least 25 per cent if the IPOs are less than Rs 100 crore (Rs 1 billion). The promoter holding in 500 listed companies has gone up to 58 per cent during the July-September quarter from 54 per cent in the April-June quarter.
Public sector carriers Air-India and Indian Airlines would not offload more than 20 per cent of their equity in their proposed initial public offer slated to be announced within this fiscal.
Officially confirming the change in tack for the first time after months of speculation, Kuldeep Goyal, BSNL's chairman and managing director, told Business Standard, "Foreign partners definitely bring in some expertise that will help the company improve its performance."
The PSU had earlier this week filed the draft papers for its initial public offering, billed to be India's biggest issue, through which the government expects to raise up to Rs 15,000 crore (Rs 150 billion).
The company is against strong competition, which has deep pockets. This adds uncertainty to the success of the operations of its subsidiaries abroad.
The Securities and Exchange Board of India (Sebi) has withdrawn a major irritant for life insurance companies wanting to hit the capital market with initial public offers.
Aggressive pricing and poor advice by investment bankers are the causes behind the IPO disaster of last month.
The initial public offer of NHPC Ltd, the state-run hydropower producer, was subscribed 3.54 times what was on offer on Friday, the opening day.
Tata-controlled CMC Ltd has filed a draft prospectus with Securities and Exchange Board of India for its proposed initial public offering to divest Centre's 26.25 per cent stake in the software firm.
The initial public offer of Adani Power, which closed today, got subscribed over 14 times with most of the bids coming in from institutional investors.
E-commerce platform Snapdeal is looking at filing its Draft Red Herring Prospectus (DRHP) in the next few weeks to launch an initial public offering in first half of next year, according to sources. Sources close to the development said the company is looking at a $250 million (around Rs 1,870 crore) IPO that could value Snapdeal at about $1.5-1.7 billion. Snapdeal is looking at filing the DRHP in December-January time frame, and launch the IPO in the first half of 2022 after the necessary approvals, they added. One of the sources said the founders will not be selling shares as part of the IPO, and major shareholders are also expected to hold onto their shares.
On the day of Facebook's market debut, trading glitches by the Nasdaq postponed the start of trading in the company by 30 minutes.
The initial public offer of Mahindra Holidays & Resorts got over-subscribed nearly four times on the final day of offer today till 1300 hrs, with most of the bids coming in from institutional investors.
The initial public offer of Mahindra Holidays & Resorts, through which it is expecting to raise up to Rs 301 crore (Rs 3.01 billion), got fully subscribed on the final day of offer on Friday.
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