At $14 a share, MakeMyTrip would be valued at $478 million (Rs 2,236 crore), or five times recent sales.
Life Insurance Corporation of India, the country's largest institutional investor, is planning to pump in at least Rs 75,000 crore in equities during the next financial year.
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.
The Sebi board, which met on Monday, however accepted the recommendations of a committee that had G Mohan Gopal, director of National Judicial Academy in Bhopal, and the then RBI deputy governor, V Leeladhar, in a third case where no adverse remarks had been made on Sebi's role.
Ministry of corporate affairs directs Registrar of Companies to conduct quarterly scrutiny
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
There are all kinds of IPOs - the good, the bad and the ugly. But even though different IPOs are of different qualities, there are some general realities you need to keep in mind.
Kolkata-based LSI Financial Services has obtained Securities and Exchange Board of India (Sebi) licence for merchant banking operations.
Insurance regulator IRDA proposes to come out with disclosure norms for initial public offering (IPO) by insurance companies by this month end, its chairman J Hari Narayan said.
The government on Monday rapped state-owned BSNL for poor financial performance and made a case for disinvestment in the telecom PSU through an initial public offer.
Sebi should change the way issues are graded, say experts. In fact, the higher the grade of an IPO, the poorer has been its performance in the market.
Financial planners say once the market starts moving up, investment decisions are based on greed and not fundamentals.
India Inc could set a new fund-raising record in 2010. Even before the year starts, companies have lined up equity raising plans of Rs 1,50,000 crore, close to two-and-a-half times of what they raised through share sales this year.
The revival of the initial public offer market has prompted brokerages to re-start margin funding, a process by which they finance high net worth clients to subscribe to new issues.
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.
In an interview, G Nagamal Reddy, who took charge of TMB in June as managing director and chief executive officer, tells TE Narasimhan that the bank, which was largely seen as a Nadar community bank, is trying to shed that tag.
BSNL had proposed to dilute 10 per cent of the government's equity holding through an IPO to raise about $10 billion. However, the offering was put off amid opposition from the employees union. The company is yet to decide on a bidder for the western region.
On standalone basis, SBI's profit declined by 37.9 per cent to Rs 1,581.55 crore, from Rs 2,538.32 crore on account of rise in bad loans.
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 Securities and Exchange Board of India has recommended reservation for domestic mutual funds within the quota allocated for "anchor investors" in initial public offers.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
Five to six issues may hit the market if Chalet Hotels's IPO is successful and if there are no negative surprises in the Union Budget on February 1.
Sahara group promoter Subrata Roy said he will take his newly acquired Indian Premier League (IPL) team public by 2013, the second year of operations, and is open to having investors take a minority equity stake in the franchisee.
The online messaging company is ramping up hiring to expand its business ahead of the initial public offering.
India Inc has raised a whopping Rs 237.3 billion (Rs 23,730 crore) through initial share sales in April-January, which is nearly 10 times than that mobilised during the corresponding period last fiscal.
IndiaBulls Power IPO's charged-up performance (the issue was subscribed 21.84 times) earlier this month had only one jarring note: the retail portion of the initial public offer barely scraped through, with a subscription of 1.09 times.
The proceeds of the IPO are expected to be ploughed into activities like expanding the fleet of the airline, which was earlier merged with its sister carrier Indian.
The AIA Group, which is a leading life insurance player in the Asian region, has a significant presence in India. AIG on Monday said it would accelerate steps to make AIA, an independent entity and also seek an Initial Public Offering on an Asian stock Exchange for the company.
BSE had been planning to list on the exchange for a while and had approached Sebi for permission to list without an initial public offer. Sebi also has to formalise norms for regulating self-listed companies. Some BSE members were keen on the listing of the exchange so that they could sell their shares.
Both advertising growth and investments into the business have been lackadaisical. It, therefore, seems to be a good time to look at the pattern of investments into the M&E industry over the last three years.
Xiaomi proposes to increase its content and software tie-ups
Pricing worries remain, but bankers expect IPOs to raise over Rs 40,000 crore (Rs 400 billion) in the next few months.
The oil explorer's IPO received bids for 80.93 crore (809.3 million) shares against 2.64 crore (26.4 million) on offer as on 1600 hrs. Investment banking sources said that the portion reserved for qualified institutional buyers got subscribed 54 times, while the non-institutional and retail investors bid 9.77 times and 1.14 times respectively.
According to leading deal tracking firm Dealogic, Global IPO volume stood at $5.6 billion till January 21, 2010, up from just $72 million in the same period last year.
"We had two meetings with the Sebi and couple of more is required (to decide on final guideline on IPO)," IRDA chairman J Hari Narayan said at a CII event.
Wockhardt will divest a 24 per cent stake in its unlisted subsidiary, Wockhardt Hospitals.
JSW Energy, the group company of Jindal South West headed by Sajjan Jindal, will launch its initial public offer within two months to raise Rs 3,000 crore (Rs 30 billion) to fund 3,000 Mw of power projects under construction. It aims to become a major power producer with about 11,400 Mw of generation by 2015, besides venturing into power transmission and distribution business and investments in renewables like solar energy.
The bank would take a call on the subject once the laws are amended to hike foreign direct investment in insurance sector from 26 per cent to 49 per cent, ICICI Bank CEO and managing director Chanda Kochhar told PTI. This would help create value for the stake holders, she clarified while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs 750 a share.
This article will try to give some tools and ratios, which help us decide whether to invest in an IPO or not at any time!
The 21 entities, which hit the market with their initial public offers, have raised as much as Rs 19,000 crore (Rs 190 billion), the highest ever in any year, according to primary market tracking firm Prime Database.
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