ICICI Lombard General Insurance Company Ltd will consider an initial public offering on reaching an overall market share of around 10 per cent even as ICICI Prudential Life Insurance plans to increase its capital base in the current fiscal.
Indian Airlines' board has decided in-principle to tap the capital market through a public offer.
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).
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.
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.
The Bengaluru-based firm competes with US rival Uber whose lukewarm IPO last year has contributed to the lag in valuation trend among the unicorns across the Indian start-up ecosystem.
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.
Facebook is appealing the class certifications, which the Menlo Park, California-based company said are "without merit" and conflict with "well-settled" precedent
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).
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:
HDFC Bank's latest shareholding data showed that the room for foreign investment has fallen just 5 basis points short of the threshold set by Morgan Stanley Capital International (MSCI) to fully include the stock in its indices. Currently, the index provider has applied an adjustment factor of 0.5 since the foreign room is less than 25 per cent. Removal of the adjustment factor will result in inflows of a massive $4.8 billion (Rs 40,000 crore) into HDFC Bank, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
There has been a stellar rise for the Indian markets this far in calendar year 2021 (CY21) with the S&P BSE Sensex surging over 19 per cent. The gain in mid-and small-cap indices on the BSE has been sharper with both these indexes surging around 38 per cent and 54 per cent, respectively during this period. Rampant spread of Covid pandemic's Delta variant and the ensuing lockdown and mobility curbs across India, rising prices key commodities, including crude oil and its impact on inflation, possibility of tightening of policy stance by major global central banks, especially the US Federal Reserve (US Fed) have been some of the key headwinds that the markets successfully negotiated during this period.
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.
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.
Online auto classified platform CarTrade Tech on Tuesday said it fixed a price band of Rs 1,585-1,618 a share for its nearly Rs 2,999-crore initial public offer. The initial public offering (IPO) will open for subscription on August 9 and conclude on August 11. The bidding for anchor investors will open on August 6, the company announced. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
'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.'
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.
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
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.
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.
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.
Multi-Commodity Exchange of India is the only listed bourse in the country
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.
Huge volatility in share prices after listing gains causes concern.
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.
Over 250 IPOs are in pipeline to raise a phenomenal Rs 95,000 crore (Rs 950 billion).
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
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.
Adani Wilmar (AWL) joined the elite group of companies with market capitalisation (m-cap) of Rs 1 trillion after the stock of Gautam Adani-led edible oil company hit a new high of Rs 802.80, up 5 per cent on the BSE in Tuesday's trade.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
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.
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.
At least 43 of the 175 issuers would have been hit if proposed mechanism had been in place before the R-Power IPO.
In a circular issued on Thursday, Sebi said that the remaining locations would be covered in the second phase by March 1, 2013.
