'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
Investing in IPOs and selling them at a higher price on listing day has become a surefire method of making money. However, one needs to know smart ways of investing in an IPO.
Facebook is appealing the class certifications, which the Menlo Park, California-based company said are "without merit" and conflict with "well-settled" precedent
Near-term prospects hinge on the progress of the second wave of Covid-19. A lockdown will dent prospects as 60 per cent of revenues come from the dine-in segment.
The Securities and Exchange Board of India has cleared the initial public offering by Indraprastha Gas Ltd, after the market regulator decided to defer implementation of T+6 norms for the book building issues.
Anil Ambani Group firm Reliance Power's IPO on Thursday generated a record demand, with bids pouring in for shares worth Rs 2,34,000 crore ($ 60 billion) an amount that is over three times the money ploughed in by FIIs and mutual funds in the stock market in 2007.
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
Broadcaster Nimbus Communication, which operates sports channel Neo Sports, is in talks with banks to float an initial public offer for nearly Rs 300 crore (Rs 3 billion).
The Union government's revenue from securities transaction tax (STT) is on track to exceed its Budget projection for the current fiscal year, with the mop-up already surpassing 50 per cent of the annual estimate. Provisional figures reveal that the Centre has collected approximately Rs 14,000 crore in the first half of this fiscal year up to September, according to a government official. This amount exceeds half of the full-year target of Rs 27,625 crore set for FY24.
In each public issue, 25 per cent of the shares on offer are reserved for the retail investor.
Business Standard discussed the primary market scenario and changing equations in the IPO market with Enam Group chairman Vallabh Bhanshali. Excerpts:
These firms are Avenue Supermarts, owner and operator of supermarket retail chain D-Mart; Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel; Shankara Building Product; BSE-promoted CDSL; and test-prep player C L Educate.
The average size of IPOs rose by nearly half in 2008 over 2007, though the financial meltdown may have scared away many from the primary capital market, bringing down the number of IPOs to about one-third, the Economic Survey said.
The Securities and Exchange Board of India will shortly revise norms for public offers and unveil a slew of products for secondary and derivative markets.
Multi-Commodity Exchange of India is the only listed bourse in the country
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
Among the changes planned are removal of the Rs 4,000-crore (Rs 40-billion) minimum size criterion and an enhanced quota for the so-called anchor investors.
Reliance Infratel, the tower business arm of the group's telecom entity Reliance Communications, has allowed the regulatory approval to lapse without coming out with an IPO and is unlikely to revive the process soon. A company spokesperson did not take queries on lapse of the approval period and on whether the company was looking to revive the process by filing a fresh draft IPO prospectus with market regulator Sebi.
'A lot of first-time users who have entered the markets after Covid are increasingly investing in mutual funds, exchange-traded funds, and stocks for their long-term goals.'
To boost fund raising from markets, Sebi on Thursday proposed e-IPO norms where investors can bid for shares through Internet and eventually on mobiles, while already listed PSUs will be provided a 'fast-track' route for share sales to meet the disinvestment targets.
Huge volatility in share prices after listing gains causes concern.
Walmart, the world's largest retailer, has paid $1.4 billion to buy out US-based Tiger Global's investment in e-commerce firm Flipkart, according to sources. The transaction puts Flipkart's valuation at $35 billion, against nearly $38 billion in 2021 when it raised funds from Japan's SoftBank, Walmart, and other investors. Tiger Global, Flipkart co-founder Binny Bansal, and Accel now have all fully exited the e-commerce firm by selling their stake to Walmart.
Moving ahead with its plans to raise funds from the capital market for its fleet acquisition programme, Indian Airlines on Thursday launched the process of appointing advisors for its IPO which is likely to be issued in the next six months.
The Securities and Exchange Board of India has extended the market timing for Reliance Petroleum Ltd's IPO by eight hours owing to huge investor interest in the public issue.
Life Insurance Corporation of India (LIC) has increased the size of its shareholders' fund to Rs 6,600 crore from Rs 100 crore in a bid to accommodate a larger shareholder base ahead of its public listing. The size of the fund has been enhanced by retaining two years' of dividend and issuing fresh capital, said an official. Increasing the size of the shareholders' fund will help boost the number of shares for allotment in the insurer's initial public offering (IPO). The corpus represents the amount of equity in a company that belongs to its shareholders.
Over 250 IPOs are in pipeline to raise a phenomenal Rs 95,000 crore (Rs 950 billion).
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
High-networth individuals and domestic funds from India are eyeing a slice of the much-touted mega IPO of Chinese e-commerce giant Alibaba, which looking to raise an eye-popping $21.1 billion.
At least 43 of the 175 issuers would have been hit if proposed mechanism had been in place before the R-Power IPO.
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.
In a circular issued on Thursday, Sebi said that the remaining locations would be covered in the second phase by March 1, 2013.
Jack Ma, founder of China's e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of $39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange surprised market investors with an abrupt announcement late on Tuesday that it will suspend Ant Group's IPO, as regulators and the public debate the balance between financial innovation and risk control, state run Global Times reported. According to media reports, the Hong Kong exchange followed suit several minutes later.
LIC, the country's largest insurer, on Friday ruled out an initial public offer to raise capital, as it has made separate provisions worth about Rs 17,000 crore (Rs 170 billion) in the last few years to meet IRDA's norms.
Sebi had last year banned Indiabulls from carrying out trades but the order was kept in abeyance till completion of the inquiry.
Airline mum on offer plans, sources say it will be looking to raise around Rs 1,000-1,200 crore
Global investment firm Blackstone on Wednesday sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore, according to sources. Embassy Office Parks REIT is India's first Real Estate Investment Trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy group. Blackstone sold its stake in the entity at around Rs 316 per share through open market transactions and at this price, the deal is valued at about Rs 7,100 crore, the sources said.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
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