Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
Spectacular returns by the recent initial public offerings on listing day are prompting a growing number of retail investors and even high net worth investors to borrow funds at a costly 16 to 17 per cent (for two or three weeks) to bid for IPO shares.
"The decision has been taken due to prevailing adverse market condition...although the QIB and HNI portions of the IPO were fully subscribed and the overall book was closed to 90 per cent," the company said in a statement.
Oil India's IPO will open on schedule inspite of the market volatility, stated government sources.
'In the next one-and-a-half, two months you'll get decent amount of opportunities in the mid-cap and small-cap sector at lower levels.'
Prithvi Haldia, managing director of Prime Database, a company tracking corporate and primary market developments, is however of the view that primary markets usually follow the secondary market. IPOs have suffered mainly as the timing was not right.
Property sales have been sluggish and the sector has been facing headwinds. So, firms are in wait-and-watch mode.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
Financial planners also believe that retail investors should avoid the IPOs or direct stock route because it is too risky for them.
Reserve requirements, mandatory investment in G-secs under Companies Act may slow lending for HNI investment in IPOs.
Market regulator Sebi has sought clarifications from the merchant banker of Videocon D2H Ltd, the satellite television arm of Videocon Group, regarding the company's proposed Rs 700 crore (Rs 7 billion) initial public offer (IPO).
According to sources, BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore (Rs 40-50 billion).
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
In other IPOs, the minimum dilution to the public will be 25 per cent, or Rs 400 crore, whichever is lower.
'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.'
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.
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.
COVID-19 forced people to work from home turned into the fuel for new demat accounts, observes Debashis Basu.
Given the company's expansion into internet and retail, more investments including mergers and acquisitions seem highly likely.
The Chinese financial giant, which had invested in One 97 Communications since 2015, has seen a sharp decline of 45 per cent, or Rs 2,125 crore, in its stake value since the Reserve Bank of India (RBI) took action against Paytm Payments Bank on January 31. One 97 shares closed at Rs 422.6 a share on Monday. The Chinese company, however, had sold its stake worth Rs 8,293 crore in three tranches over one 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.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Facebook's much-hyped IPO has hit the headlines for the wrong reasons.
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.
Close to three dozen companies will launch their IPOs over the next four-six months.
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 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.
This would be a 10-fold jump from $10-12 bn raised a year from Indian markets over past 2-3 years
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