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.
Only the top 5 per cent profit makers account for 75 per cent of profits.
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.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
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.
'Think of the poorest retail investor before you decide to go for an IPO'
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.
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.
'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
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).
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 Union cabinet had approved Coal India's IPO last month, to divest 10 per cent of the government's stake in the Navratna PSU.
Paytm's pre-IPO investors, which include likes of Warren Buffet's Berkshire Hathway, SoftBank and Alibaba, do not seem to be in a hurry to exit India's leading digital payments brand as they continue to believe in its long-term prospect, analysts said. On Tuesday, 86 per cent of Paytm's shares became free to trade after the end of the lock-in period, allowing investors to sell shares that haven't yet been allowed onto the market. Market participants have been speculating on Paytm, post-expiry of lock-in for pre-IPO investors.
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.
Sebi also plans to examine if any comments made by company officials or the bankers could have misled investors.
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.
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
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.
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.
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.
The stocks Radhakishan Damani enters or exits are closely watched by fund managers, says Joydeep Ghosh.
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.
The Sebi order clears the hurdles ahead of the mega IPO of $2.5 billion to $3 billion, which is expected to hit the markets early next year.
Volatility in the secondary markets has forced some initial public offers to revise their price bands as markets continue to be plagued by liquidity problems.
The social network's bumpy ride since its listing highlights the dangers of investing in buzz and hype.
Sebi takes 6 merchant bankers to task for lapses in IPO
Oil India Ltd, the second state-run firm to hit the market with an offering of equity shares this year, may price its IPO that opens on September 7 at Rs 1,000-1,100 a share.
Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. "Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo.
The Securities and Exchange Board of India on Thursday said it has unearthed yet another IPO scam in the public issue of shares of Infrastructure Development Finance Company Ltd.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
A public interest litigation filed in the Bombay high court has demanded a probe into the way some companies lure investors into subscribing to their IPOs by giving false information about their financial position and prospects.
C S Ghosh, founder of Bandhan Bank, believes his unique business model is not comparable to any financial institution in India -- neither small finance banks, nor big private sector banks -- and hence the valuations are justified.
