According to sources, BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore (Rs 40-50 billion).
COVID-19 forced people to work from home turned into the fuel for new demat accounts, observes Debashis Basu.
In other IPOs, the minimum dilution to the public will be 25 per cent, or Rs 400 crore, whichever is lower.
Karvy Computershare Pvt Ltd engaged in fraudulent activities with respect to certain initial public offerings in 2005, market regulator Sebi said.
An e-IPO is a mechanism through which investment in public offerings can be done online without signing any physical documents.
OIL, the nation's second biggest state-run oil and gas explorer, was to launch its IPO of 2.64 crore equity shares on November 10, but the reversal of fortunes on the stock markets led to its deferment by a few weeks. It now has been put back for at least a couple of months.
Given the company's expansion into internet and retail, more investments including mergers and acquisitions seem highly likely.
Though there has been a drastic fall, both in terms of IPO volume and value so far this year compared to last year, experts say the lull in the primary market is finally over and the markets are showing some signs of recovery. Dealogic further said NHPC's IPO would be the largest in India since Reliance Power's $2.6 billion deal in January 2008, and the third largest IPO in Asia (ex Japan) region so far this year.
While the fresh issue portion of IPOs has been going down over the years, this financial year has been abysmally low at only Rs 2,663 crore, 82 per cent lower compared to the last financial year.
Close to three dozen companies will launch their IPOs over the next four-six months.
Facebook's much-hyped IPO has hit the headlines for the wrong reasons.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
India's largest commodity bourse MCX is likely to launch its up to Rs 750 crore (Rs 7.5 billion) initial public offer (IPO) by month-end, becoming the first ever exchange in the country to get listed.
Uber's draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India, reports Karan Choudhury.
Price is the reason for investors to stay away from IPOs. There is a general sense of apathy among investors after having lost money in IPOs. This explains why the primary markets are in a bad shape. That the secondary markets are not doing well, either, is not helping investors. Markets, over the last 18 months, have not returned money to investors. Assets under management of equity funds have faced redemption pressure during this period.
In its draft red herring prospectus, the company had sought to raise Rs 2,200 crore, but sources said the issue size could be raised to Rs 3,000 crore, making it the first big issue after the Reliance Power IPO in February last year.
IPO-bound market infrastructure institutions like bourses have to ensure that every shareholder is 'fit and proper'.
Sebi has objected to the practice adopted by MFs to term their new offering as 'IPOs'.
Quick Heal Technologies which got listed in February has taken the steepest hit as its shares have slumped 31 per cent against its IPO price.
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
The upstream oil and gas (O&G) sector has delivered a stellar performance in the stock market in the recent past. The O&G sector is dominated by PSUs and despite the imposition of a windfall tax, profitability has been impressive. Oil India Limited (OIL) is particularly favoured by investors.
Stock market investors are betting that a new government led by Modi will be able to cut red tape and revive economic growth
Here are certain fundamental principles to help us find out what suits us right while investing in initial public offerings.
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
This would be a 10-fold jump from $10-12 bn raised a year from Indian markets over past 2-3 years
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
'We expect the bull run to continue until economic growth continues.'
A combination of strong earnings and economic growth, and hopes of the Federal Reserve ending the rate-hike cycle have pushed gross buying of Indian equities by foreign portfolio investors (IPO) to a new high. In 2023, FPIs have been gross buyers of shares worth Rs 25.5 trillion, the highest ever in a calendar year. FPIs also sold shares worth Rs 23.9 trillion. On a net basis, they were net buyers to the tune of Rs 1.6 trillion, the highest since 2020.
Over three-and-a-half years after receiving draft papers for the proposed IPO of Sahara Prime City Ltd, Sebi has formally closed this file as the company failed to submit clarifications sought by the market regulator.
Investors' wealth eroded by a massive Rs 8,21,666.77 crore on Monday as the market saw a massive sell-off not seen in many months. The BSE benchmark Sensex plunged 1,170.12 points or 1.96 per cent to close at 58,465.89. This is the worst single-day drop for the gauge in over seven months. This was also the fourth straight session of decline for the Sensex.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
The IPO by J Kumar Infra, which closed on Wednesday, managed to scrape through, with the issue getting bids for 2.7 times. This is in sharp contrast to the recent IPOs, which were getting subscribed many times over.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
The country's m-cap is now 4.3x India's, whose m-cap grew just 17 per cent to $2.5 trillion in CY20 -- 2.4 per cent of the global m-cap.. Ashley Coutinho reports.
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