Economic growth, which we are taking for granted, slows for a completely different set of local or global factors and the Modi premium vanishes, observes Debashis Basu.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
More than 60 small and medium enterprises (SMEs) are expected to tap the market in one year to raise equity funds for supporting their business requirements, a BSE top official said on Wednesday. These companies will get listed on the exchange's SME platform, Ajay Thakur, head of BSE SME and Startup told PTI. Last year, only 16 SMEs had tapped the initial public offering (IPO) route and raised Rs 100 crore.
A look at the performance of the eight IPOs since January 2005, which got listed reveals that the IPO dream may have turned sour for some investors.
In its draft red herring prospectus, the company had sought to raise Rs 2,200 crore, but sources said the issue size could be raised to Rs 3,000 crore, making it the first big issue after the Reliance Power IPO in February last year.
Multi-Commodity Exchange of India is the only listed bourse in the country
The government said Anil Ambani-promoted Reliance Power IPO did not appear to be overpriced, if the over-subscription to the public issue is taken into consideration. Reliance Power, which raised close to $ 3 billion through an initial public offer earlier this year, was oversubscribed by about 73 times. However, despite an impressive response to the IPO, the stock made a disastrous debut on bourses and dipped below the issue price on the first day itself.
Mumbai-based software company Paradyne Infotech Ltd is planning to enter the capital market by mid-March with an initial public offering of 3.3 million shares of Rs 10 each at premium of Rs 32.
In view of flurry of IPOs expected in the immediate future, here is a simple tip which will make investors' participation in IPOs more profitable and enjoyable.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
Prithvi Haldia, managing director of Prime Database, a company tracking corporate and primary market developments, is however of the view that primary markets usually follow the secondary market. IPOs have suffered mainly as the timing was not right.
OIL, the nation's second biggest state-run oil and gas explorer, was to launch its IPO of 2.64 crore equity shares on November 10, but the reversal of fortunes on the stock markets led to its deferment by a few weeks. It now has been put back for at least a couple of months.
The Securities and Exchange Board of India has issued "certain observations" and "sought clarifications" on draft prospectus for Tata Consultancy Services Ltd's initial public offering.
Reliance Power IPO from billionaire Anil Ambani-led group may have generated highest demand, but its listing premium could only be ranked the lowest after DLF among 10 major IPOs since elder brother Mukesh's Reliance Petroleum made its debut on the bourses in 2006.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
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.
With the stock markets falling, four initial public offers (IPOs) that opened this week are facing rough times and finding it difficult to get investors.
Betting big on the inorganic growth strategy, Tata Consultancy Services on Thursday said its initial public offer would help bolster resources for 'significant' acquisitions for future growth.
Facebook is set to become one of the world's most highly valued Internet companies.
Global trend has affected Indian markets too, as two reputed IPOs were withdrawn due to lack of investor response.
Company needs to fulfil them even if they were made inadvertently.
Expect corporate houses to raise funds via IPO in second half of this year.
NHPC IPO has been put off for this fiscal, as the company has to appoint the requisite number of directors to the board.
Securities and Exchange Board of India has thrown out a job spinner with its mandatory IPO (initial public offer) grading norms
Initial public offerings and the profits made from it has been a hot topic of discussion in recent weeks. Here's a look at what you must know before applying for that 'hot' IPO.
State-owned telecom giant Bharat Sanchar Nigam Limited has no plans to come out with an initial public offer in the immediate future, a government statement said on Thursday.
The Securities and Exchange Board of India has cleared the initial public offering by Indraprastha Gas Ltd, after the market regulator decided to defer implementation of T+6 norms for the book building issues.
With more new listings on the bourses trading at a discount to the offer price, retail investors are no longer queuing up for initial public offering applications.
Investing in IPOs and selling them at a higher price on listing day has become a surefire method of making money. However, one needs to know smart ways of investing in an IPO.
The move signals a strong demand from investors.
The world's largest mobile operator by revenue has begun the year on a bold note, backing the initial public offer plans of its Indian unit and sources say the ball has already been set rolling.
Anil Ambani Group firm Reliance Power's IPO on Thursday generated a record demand, with bids pouring in for shares worth Rs 2,34,000 crore ($ 60 billion) an amount that is over three times the money ploughed in by FIIs and mutual funds in the stock market in 2007.
Multiple agencies to probe, regulatory crackdown on more companies expected.
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