Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges. Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.
Mobile operator Spice Telecom, which is planning to tap the capital market with an initial public offer, has got Foreign Investment Promotion Board's nod for the public issue.
Petronet LNG Ltd, India's first liquefied natural gas importer, will file a draft prospectus on Tuesday for an initial public offering of 271 million equity shares, representing 35 per cent of equity, to raise around Rs 400 crore.
The 6 IPOs that were scanned by Sebi were the public issues of Suzlon Energy, Jet Airways, NTPC, TCS, Patni Computer Systems and TV Today Network.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
Experts say companies wanting to launch IPOs will have to scale back their expectations given the fall in valuations.
Sebi should change the way issues are graded, say experts. In fact, the higher the grade of an IPO, the poorer has been its performance in the market.
Of the 43 new issues listed on the BSE between April and September 2007, 33 are currently trading at a premium over the offer prices. Of the 33, nine have appreciated by over 100 per cent each, while 15 gained between 25 and 100 per cent.
Talks gain ground of strategic stake sale to foreign investor.
Global stock markets are booming but policymakers must prepare for less favourable conditions.
The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise.
'We want to achieve overall profitability, and then we would go for an IPO.'
Mukesh Ambani-controlled Reliance Petroleum is understood to have fixed a price band of Rs 57-62 for its initial public offer to raise over Rs 5,000 crore (Rs 50 billion).
Xioami, currently the world's third-largest smartphone maker, is now planning to raise about $1.5 billion in its fifth round of financing, media reports said.
After dropping to a low of Rs 1,298 apiece, the stock finished at Rs 1,380, its lowest level since November 22, the second day of listing.
The National Stock Exchange (NSE) on Monday conducted the first round of mock electronic bidding process for implementing application supported by blocked amount (ASBA), an alternative mode of payment for initial public offerings (IPOs), proposed by capital markets regulator, Securities and Exchange Board of India (Sebi).
Nextbillion Technology (Groww), the venture capital-backed broking platform, has dislodged Zerodha Broking as India's largest brokerage in terms of number of active clients. Groww had 6.63 million active clients at the end of September, as against Zerodha's 6.48 million, ending the latter's long run at the top. AngelOne and RKSV Securities (Upstox) were ranked third and fourth with 4.86 million and 2.19 million active clients, according to data available on the National Stock Exchange (NSE).
The QIP route was a big hit.
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