Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
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.
Real estate major DLF Universal has withdrawn the draft red herring prospectus for its initial public offer and called off its $3 billion IPO.
A negative net worth implies the company's liabilities are more than its assets
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.
Sebi also plans to examine if any comments made by company officials or the bankers could have misled investors.
While the BSE's asking valuation is reasonable, compared to peers, there are some factors that long-term investors need to consider before investing.
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.
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.
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).
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.
Companies will not be able to access the capital market for at least one year if their IPO documents are rejected by market regulator Sebi, while managers of such public issues would also face penal action.
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.
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.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
Coal India Ltd's Rs 15,000 crore (Rs 150 billion) mega issue, which opens on Monday for public subscription, has garnered a bullish endorsement from most of the market experts who believe it would be the star attraction of this week for all, including retail investors.
Court gives Sebi two weeks to explain why it rejected a report on IPO scam.
Companies likely to defer initial share sale plans due to lack of investor appetite, state polls, Budget.
The company will go in for a pre-IPO private placement of 15 per cent of the shares to be offered through the issue.
As the lead underwriter responsible for Facebook's IPO, Morgan Stanley, would receive the largest chunk of those profits arising from stabilising Facebook's stock price, the report said citing a person familiar with the matter.
Incensed over the "planting of articles" and wrongful advertisements in the run up to a company's public offer, market regulator Sebi on Friday pulled up merchant bankers and said it is considering coming out with revised norms on IPO advertisements.
Life Insurance Corp of India (LIC), which is aiming to launch its initial public offering (IPO) next month, is set to alter the pecking order of top listed companies in the country. Depending upon where the government prices the IPO, the stock could end up becoming India's most valuable company on the first day and even get fast-tracked into global benchmark indices given its sheer size. According to market sources, LIC's IPO is targeting to mop up Rs 63,000 crore and Rs 75,000 crore.
India will miss its revised divestment target for the second time in the past eight years by a wide margin, as the government may not be able to raise an expected over Rs 60,000 crore from the IPO of insurance behemoth LIC in 2021-22. Since the Modi government came to power in 2014, it was only in the financial year 2019-20 that it failed to achieve the revised CPSE divestment target of Rs 65,000 crore. The mop-up during the year was only Rs 50,304 crore. In the ongoing financial year 2021-22, the government was all set to go ahead with the share sale of Life Insurance Corporation (LIC) this month and draft papers for the same were also filed with markets regulator Sebi.
Power Trading Corporation will enter the capital market next month with its initial public offer to enhance capital by Rs 58.5 crore (Rs 585 million).
The Union cabinet had approved Coal India's IPO last month, to divest 10 per cent of the government's stake in the Navratna PSU.
State-owned National Thermal Power Corporation on Monday filed draft prospectus with the market regulator Sebi for enhancing equity by 5.25 per cent through an initial public offer.
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
The stocks Radhakishan Damani enters or exits are closely watched by fund managers, says Joydeep Ghosh.
The second half of June could be driven more or less by technical factors triggered by news flow from Greece, the US Federal Reserve and the monsoon. The technical picture seems bearish as of now, says Devangshu Datta.
The bullish trend in the capital market was see in the IPO volume of 2007, as a record volume of $8.18 billion was raised. However, rough market conditions have resulted in a negative return of about 42 per cent or a value erosion of $3.43 billion in absolute terms till October 10, according to a report of Nexgen Capitals, the merchant-banking arm of brokerage firm SMC Global Securities.
According to the bankers in Gujarat, a larger number of small investors had applied for initial public offering (IPO) subscription that has washed away approximately Rs 300-400 crore from entire Gujarat's banking system in just one week.
Tata Consultancy Services (TCS) has weathered the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm's standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said TCS shareholders received over 3,000 per cent return on their investments since the company was listed in 2004.
Apart from signalling the shape of things to come, the stock markets are seen as an important source of funds for investment - so their health can be critical.
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