Capital markets regulator Sebi has rejected a proposal by the National Stock Exchange (NSE) to extend the trading hours in the equity derivatives segment citing a lack of feedback from the stock brokers community. "Currently, there is no plan to extend the timings as Sebi has returned our application as the stock brokers have not given the feedback that Sebi wanted. "So, as of now, the extended time frame (plan) is shelved," NSE MD and CEO Ashishkumar Chauhan said in a post-earnings analysts call.
Only 164 companies or 42 per cent currently trade above the offer price.
'The IPO window has been more or less open since the new government in 2014.'
The country's largest private lender HDFC Bank on Saturday reported a 6.51 per cent decline in its consolidated net profit to Rs 16,474.85 crore in the April-June quarter compared to the previous January-March quarter. The city-headquartered lender, which merged its mortgage major parent HDFC into itself in July last year, had reported a net profit of Rs 17,622.38 crore in the March quarter. On a standalone basis, the net profit declined to Rs 16,174.75 crore in April-June 2024-25 from Rs 16,511.85 crore in January-March 2023-24.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
Buoyed by the success of secondary market, IPO market set to see high action
Although the pricing for the IPO is yet to be finalised, people in the know said the band could be Rs 275-300
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.
'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.'
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.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
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.
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.
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 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%.
As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
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.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
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.
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.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
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 shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
SP Jain Institute of Management and Research, Mumbai, will hold its annual entrepreneurship mock IPO event Lock, Stock and Trade on January 4.
Given the company's expansion into internet and retail, more investments including mergers and acquisitions seem highly likely.
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.
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
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.
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.
