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 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.
Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war.
Airline mum on offer plans, sources say it will be looking to raise around Rs 1,000-1,200 crore
Vodafone's assessment is that the controversy over the spectrum allocation case is not over.
Kishore Biyani-promoted Future Capital Holdings' initial share sale, which closed its IPO on Wednesday, was subscribed nearly 131 times, as investors shrugged off shaky secondary market sentiment after the benchmark Sensex tumbled nearly 860 points in the last two days.
"It is a reflection of world community in the future of India... Investors seem to be confident in the future of Indian economy," Chidambaram told PTI on IPO that hit the market this morning for mopping upto Rs 11,700 crore (Rs 117 billion). Not only the IPO was fully subscribed within a minute of opening, it generated demand worth over Rs 50,000 crore (Rs 500 billion) in less than two hours.
Low cost airline Air Deccan has filed an application with SEBI for entering the capital market.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
The Western Vidarbha region comprising three districts of Akola, Washim and Buldana recorded bids of over Rs 50 crore (Rs 500 million) in the IPO that had opened on January 15, according to banking and private money market sources.
InterGlobe's IPO is India's biggest since the listing of around $750 million by Bharti Infratel Ltd in December 2012.
Coffee Day Enterprises Ltd is backed by KKR & Co.
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.
Amid volatility in stock markets generated by tension between Russia and the US over Ukraine, LIC chairman M R Kumar on Monday said that the insurance behemoth was watching the geo-political situation carefully, though it was keen on listing of the IPO in March. The Life Insurance Corporation (LIC) has already filed the DRHP with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). "We are watching the situation closely and carefully...but we are very keen on having listing in March," Kumar said, when asked about the impact of the evolving geopolitical situation on the upcoming IPO.
Global pension funds have started investing aggressively in primary market offers. Till recently, they were not looking beyond some of the largest Indian listed companies.
Buoyed by the boom in stock markets, many small and medium sized IT firms, including Servion Global Solutions, Accel-ICIM Frontline, Bahwan Cybertek and Dax Networks are planning initial public offerings to fund their growth and expansion plans.
The 3G, 4G data and Airtel Money services are the next growth engines for the company in Africa.
Rakesh Jhunjhunwala of RARE Enterprises, a high-profile investor, talks to Business Standard on the state of the secondary market and the hype around IPOs.
Investing in IPOs is not an easy task, especially when we see a lot of them list lower than the issue price
The mega real estate loan scam could delay the initial public offers of over half a dozen real estate developers because of poor investor sentiment, said bankers and analysts tracking the sector.
In times of high interest rates, it is not a very bright idea to take a loan and invest in an IPO
Girish Nadkarni of IL&FS Investsmart discusses the new IPOs that came out this week. He says that Atlanta and ACE are the better investment bets currently in the market. However, the investor interest is not very high in Deep Industries.
'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.'
Bids for the issue, which opens on January 23 and closes on January 25, can be made for a minimum of 18 shares and in multiples of 18 thereafter.
The much-awaited offer is also seen as a test case for revival of big-ticket sales in the primary market.
Public sector exploration firm Oil India is likely to hit the capital market, with an initial public offering of 2.64 crore shares, in November.
The company plans to raise Rs 5,000 crore by selling its shares to public.
Half of the 10 IPOs to have hit the market since the beginning of this year have been from the real estate space. J Kumar Infra Projects, KNR Constructions, SVEC Constructions and the now withdrawn Emaar MGF are the worst hit, according to analysts.
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.
"The listing time should come down to seven days... primary market is still somewhat inefficient compared to the secondary market," Sebi Chairman, CB Bhave said.
Uniparts India and PNC Infratech are the latest companies to file initial public offer papers.
State-owned National Thermal Power Corporation said on Monday that it plans to hit the market with an initial public offering of shares representing 5 per cent of its equity by early August.
Investors must be aware that there is an element of uncertainty attached to investing in MF IPOs, which they must factor in before making an investment decision.
The scrip of the company on Wednesday ended at Rs 695.80, up 2.7 per cent, on BSE, while the benchmark Sensex ended flat at 19,345.70. Just Dial shares had seen a record high of Rs 761.80 on July 9.
A poll shows that most of the IPO refunds are likely to their way into the stock markets.
The much-awaited public offering of the shares of auto major Maruti Udyog Ltd has cleared another major hurdle with the Securities and Exchange Board of India approving the draft prospectus for the initial public offer.
Sebi hopes to allow investors to hold subscription amounts for initial public offerings in their bank accounts until allotment. This is to cut the time between the stock sale and listing. Sebi chief said with the present technology it is possible to earmark the amount in the investor account itself and not have the money actually transferred. He said that there were a host of issues plaguing the IPO market and that it could see some action in the coming months.
