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The Securities and Exchange Board of India (Sebi) has withdrawn a major irritant for life insurance companies wanting to hit the capital market with initial public offers.
After 'mutual funds sahi hai', it could be the turn of something like 'stock market sahi hai'. Ahead of what will be India's biggest initial public offering, expected later this year, the government and the insurance major are planning a high-decibel awareness campaign for retail investors to ensure their participation in large numbers. "It may be along the lines of the highly successful campaign on mutual funds," an official privy to the developments said. The campaign will mainly target investors in tier II and tier III cities, and will be organised through the vast network of LIC agents to make the policyholders aware about investing in stock markets.
The company is against strong competition, which has deep pockets. This adds uncertainty to the success of the operations of its subsidiaries abroad.
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.
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.
The move signals a strong demand from investors.
Paytm's Rs 18,300-crore IPO -- India's largest public issue to date -- was subscribed only 18 per cent on the first day of bidding on Monday.
While some bankers said that responses to the Sebi are being delayed deliberately in some of the cases in view of the turbulent market conditions prevailing on the bourses, those associated with some of these deals said these are 'routine' clarifications and would be responded in the due course. According to the latest processing status as on March 14 of draft offer documents filed with Sebi, clarifications are currently awaited from lead managers in relation to 20 IPOs.
Investors including units of Morgan Stanley and Citigroup have agreed to buy 28.3 million shares of Bharti Infratel at Rs 230 apiece.
The company commands a market valuation of Rs 31,702.37 crore (Rs 317.02 billion).
Vanishing companies are those firms, which cease to file their statements of return or where, after raising capital, whereabouts of their registered office or directors are not known.
The Securities and Exchange Board of India (SEBI) has cleared Reliance Infratel's draft red herring prospectus for its proposed initial public offering (IPO). Reliance Infratel will offer 10 per cent equity under the proposed IPO.
State-run telecom major Bharat Sanchar Nigam Ltd (BSNL) says it expects to increase its visibility in the domestic and international markets, besides improving company performance, as a fallout of the proposed initial public offering (IPO) of equity.
Securities Transaction Tax (STT) reduced on cash delivery transactions by 20 per cent from 0.125 per cent to 0.1 per cent on cash delivery transactions.
Since 11 months, Sebi has not been able to make these companies deposit the required money in an escrow account.
Goenka is hoping Spencer's will break even by the second quarter of 2013-14.
The Chicago Board Options Exchange, the last major private exchange in the US, has filed for an initial public offering with the Securities and Exchange Commission, to raise up to $300 million.
Vodafone's assessment is that the controversy over the spectrum allocation case is not over.
Bumble began in 2014 as a dating platform for women to start discussions with potential male partners. The company is aiming to promote newer functions, Bumble BFF and Bumble Bizz, which help women find friends and build business networks, alongside dating.
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