Foreign portfolio investors' (FPIs') shareholding in NSE-listed companies fell 51 basis points sequentially to 17.68 per cent in the quarter ended March 31, 2024, according to data compiled by PRIME Database. This is the lowest FPI shareholding since December 2012. From the recent peak of 21.21 per cent at the end of December 2020, FPI shareholding is down 353 basis points.
Financial year 2010-2011 saw high wealth erosion for investors in the IPO market.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
Snapdeal's Kunal Bahl tells team to follow DMart example. Sources close to the company says Snapdeal plans to launch an IPO by 2019.
At present, the sentiment is upbeat, and companies are waiting to come out with their initial public offerings (IPOs) to cash in on the boom.
Eye business expansion, fulfil working capital requirements and making loan repayments
India's largest ever public offer to raise up to Rs 15,000 crore (Rs 150 billion) will hit the market by the third week of October.
Tata Motors reported a consolidated net profit of Rs 17,483 crore (adjusted for exceptional gains and losses) for Q4FY24, surpassing TCS' consolidated net earnings of Rs 12,434 crore. For the automotive major, this marked a 213.7 per cent year-on-year increase in the bottom line, from Rs 5,573.8 crore a year ago. In contrast, India's biggest IT firm saw a more modest Y-o-Y growth of 9.1 per cent in net profit, from Rs 11,392 crore.
If companies manage to raise Rs 10,000 crore, this will be the best year for IPOs since FY11.
A total of 25 companies raised Rs 28,220 crore during the financial year.
The IPO of state-owned steel maker RINL is scheduled to hit the markets in the current fiscal, and the Cabinet has already accorded its approval for the stake sale.
Gujarat Fluorochemicals Ltd on Wednesday said its subsidiary Inox Leisure Ltd is considering an entry into the capital markets through an initial public offer of 1.65 crore (16.5 million) equity shares.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
'The IPO window has been more or less open since the new government in 2014.'
Only 164 companies or 42 per cent currently trade above the offer price.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
Buoyed by the success of secondary market, IPO market set to see high action
'It is a worrying trend as we are not seeing too much fresh capital being raised for new projects, plants, expansion or diversification. It's just private equity or venture capital or promoters cashing out.'
'We are focused on playing on our strengths, which are technology, and building a large profitable business by working with banks as well as non-banks and NBFCs for loans.'
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
The gains came on expectations that the company will post strong growth given its presence in application to peer services and the fast-growing communication platform as a service segment.
The Rs 702-crore IPO received bids for 2,93,41,84,140 shares against the total issue size of 2,32,59,550 shares, according to data available till 3.30 pm on Wednesday.
Investors must exercise discretion to ensure they select an MF scheme based on whether it is a good fit in their investment profile and offers a superior risk-return proposition.
Sebi has long struggled with balancing the needs of small investors and those of the market.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
Indian companies are now more confident about the execution skills of local banks.
The initial public offering for Patni Computers Systems Ltd was oversubscribed by 2.75 times on Tuesday, the first day for 100 per cent book built issue, with maximum bids at price of Rs 230 per share.
There are all kinds of IPOs - the good, the bad and the ugly. But even though different IPOs are of different qualities, there are some general realities you need to keep in mind.
'Auto, pharma, and industrials have delivered well in the recent quarter, while businesses like quick-service restaurants, consumer staples, and durables have underperformed in volume growth.'
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The stock jumped significantly on listing.
Tata Group remained India's largest business conglomerate in market capitalisation in calendar year 2023 while the Mukesh Ambani camp raced ahead of the Adani businesses to become the second-largest. The Tata companies ended 2023 with a combined group market capitalisation of Rs 28.68 trillion, up 35 per cent from the Rs 21.2 trillion at the end of December 2022. Ambani's group mcap is Rs 19.42 trillion at the end of CY23, up 10.7 per cent from the Rs 17.6 trillion a year ago.
The Cabinet Committee of Economic Affairs is all set to announce the guidelines for FDI in commodity exchanges. Following this, the Forward Markets Commission is expected to submit the proposal for ownership structure of exchanges before the Union ministry of consumer affairs.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
HDFC Bank's latest shareholding data showed that the room for foreign investment has fallen just 5 basis points short of the threshold set by Morgan Stanley Capital International (MSCI) to fully include the stock in its indices. Currently, the index provider has applied an adjustment factor of 0.5 since the foreign room is less than 25 per cent. Removal of the adjustment factor will result in inflows of a massive $4.8 billion (Rs 40,000 crore) into HDFC Bank, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
"The decision has been taken due to prevailing adverse market condition...although the QIB and HNI portions of the IPO were fully subscribed and the overall book was closed to 90 per cent," the company said in a statement.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
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