'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.'
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.
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.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
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.
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.
Sebi has long struggled with balancing the needs of small investors and those of the market.
Indian companies are now more confident about the execution skills of local banks.
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The stock jumped significantly on listing.
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.
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.
"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.
Met with lukewarm response from a volatile market, Wockhardt Hospitals withdrew its IPO. It received bids only for 19.5%.
Spectacular returns by the recent initial public offerings on listing day are prompting a growing number of retail investors and even high net worth investors to borrow funds at a costly 16 to 17 per cent (for two or three weeks) to bid for IPO shares.
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.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
At least 11 firms have called-off their Initial Public Offer (IPO) plans since the beginning of 2012, even as the country's largest commodity exchange MCX today made a stellar debut in the stock market after a highly-successful IPO last month, a report has said.
Given the company's expansion into internet and retail, more investments including mergers and acquisitions seem highly likely.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
'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.'
SP Jain Institute of Management and Research, Mumbai, will hold its annual entrepreneurship mock IPO event Lock, Stock and Trade on January 4.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
The revival in Mumbai's property market could help the group.
The year saw as many as 86 IPOs followed by listings, of which 52 are available at a discount.
Euphoric about India's biggest IPO, possibly to garner up to Rs 15,000 crore, from the world's largest coal producer CIL, Coal Minister Sriprakash Jaiswal on Friday said October is an "auspicious" month to launch the issue.
'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.'
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
Under the 2007 agreement between Vodafone and Essar, the latter has a put option of divesting its stake in the telecom venture.
The IPO grey market premium does not value a company accurately. You may burn your fingers.
The mega initial public offer of realty giant DLF, through which the developer is expecting to garner Rs 9,625 crore (Rs 96.25 billion), got fully subscribed on Tuesday.
'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.'
With seven of the nine public offers listed last week flopping on debut, the days of making money through public issues seem to be over. Last week's wasn't a one-off case.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
Despite markets turning volatile, share sale activity at India Inc has surged to its highest level in five months. So far in March, promoters, strategic investors and other large shareholders have been able to offload shares worth more than Rs 33,000 crore-the most since November-defying uncertain market conditions. Both the Sensex and the Nifty are on course to post their fourth straight monthly loss amid headwinds, such as interest rate tightening by the US Federal Reserve and the global banking crisis.
State-run telecom major Bharat Sanchar Nigam Ltd (BSNL) says it expects to increase its visibility in the domestic and international markets, besides improving company performance, as a fallout of the proposed initial public offering (IPO) of equity.
These firms are Avenue Supermarts, owner and operator of supermarket retail chain D-Mart; Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel; Shankara Building Product; BSE-promoted CDSL; and test-prep player C L Educate.
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.
An e-IPO is a mechanism through which investment in public offerings can be done online without signing any physical documents.
