The group is set to become the second largest Indian corporate in terms of market value.
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.
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.
Real estate giant DLF, which revived its process of entering the capital market last month to raise Rs 13,600 crore (Rs 136 billion) through its Initial Public Offer, said on Tuesday its IPO plan is on track.
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.
DLF has received approval from market regulator Securities and Exchange Board of India for its initial public offer, through which it is expected to raise a record Rs 13,600 crore (Rs 136 billion). "
Currently, Sebi regulations require the bidding period to be completed in a minimum of three working days and a maximum of 10, including the extension given pursuant to a revision in price band by the issuer.
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.
IPOs offer opportunities for making quick money which few other forms of investment can hope to match, particularly during the market's bull phase.
Industry sources peg the IPO figure at $50-80 million (Rs 230-370 crore).
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.
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.
Amitabh Bachchan Corporation Ltd has become debt free and has started preparations to tap the capital market through an initial public offer.
Petronet's IPO of 261 million shares will hit markets on March 1, 2004. The IPO has been put in a price band of Rs 13-15 a share.
According to leading deal tracking firm Dealogic, Global IPO volume stood at $5.6 billion till January 21, 2010, up from just $72 million in the same period last year.
'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.'
The Securities Appellate Tribunal has adjourned the first hearing of National Securities Depository Ltd's appeal against Sebi's interim order on the IPO scam as the market regulator could not hire a senior counsel to argue its case.
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
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Tough market conditions are also throwing challenges before the companies to get good investments, while weakness in primary market is also making the exit difficult for pre-IPO investors, Sebi Chairman U K Sinha said.
The broader markets also ended lower in line with the benchmark indices
Should you invest in mutual fund IPOs? Check this out.
Riding on robust Asian market recovery, twenty Indian companies raised a whopping $1.2 billion through initial share sale offers in the first three months of 2010, a period when global IPOs were worth over $53 billion, says a report.
For being listed on the index a scrip must have the minimum free-float market capitalisation of Rs 100 crore.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
Real estate major DLF Universal has withdrawn the draft red herring prospectus for its initial public offer and called off its $3 billion IPO.
Future Capital will be the first company to hit capital market as it is set to release its IPO at a fixed price band of Rs 700-765 per share.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
While some bankers said that responses to the Sebi are being delayed deliberately in some of the cases in view of the turbulent market conditions prevailing on the bourses, those associated with some of these deals said these are 'routine' clarifications and would be responded in the due course. According to the latest processing status as on March 14 of draft offer documents filed with Sebi, clarifications are currently awaited from lead managers in relation to 20 IPOs.
As part of this drive, the Ministry of Company Affairs has directed the Registrar of Companies to "keep under watch" the IPOs that hit the market since 2004, garnering an estimated Rs 25,000 crore (Rs 250 billion).
The shutdown of capital markets is causing a major headache for private equity firms, hedge funds and investment banks that piled in to Chinese and Indian companies ahead of expected stock market listings.
A negative net worth implies the company's liabilities are more than its assets
While the BSE's asking valuation is reasonable, compared to peers, there are some factors that long-term investors need to consider before investing.
There has been a lull in the primary market scenario across the world, with the global IPO value registering a decline of 95 per cent at $1.6 billion so far this year.
Primary markets may see banks using electronic clearance systems (ECS) to clear cheques in order to reduce the gap between the time an issue closes and its listing on the bourses.The primary market advisory committee of the Securities and Exchange Board of India (Sebi) met on Friday to iron out some of the logistical difficulties involved in making the IPO process faster.
The public issue was aimed at raising funds to augment production capacity, enhance the research and development facilities and to strengthen the market presence of V-Guard products across the country.
