The Securities and Exchange Board of India (SEBI) has cleared Reliance Infratel's draft red herring prospectus for its proposed initial public offering (IPO). Reliance Infratel will offer 10 per cent equity under the proposed IPO.
The Development Credit Bank, an emerging private sector bank in India, would shortly go in for its IPO to raise Rs 300 crore (Rs 3 billion).
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
Though there has been a drastic fall, both in terms of IPO volume and value so far this year compared to last year, experts say the lull in the primary market is finally over and the markets are showing some signs of recovery. Dealogic further said NHPC's IPO would be the largest in India since Reliance Power's $2.6 billion deal in January 2008, and the third largest IPO in Asia (ex Japan) region so far this year.
Quick Heal Technologies which got listed in February has taken the steepest hit as its shares have slumped 31 per cent against its IPO price.
OIL, which produces 3.5 million tonnes a year of oil, will offer 2.64 crore equity shares to public in the IPO, while the government will simultaneously sell 10 per cent of its stake in the company to state refiners.
OIL, which produces 3.5 million tonnes a year of oil, will offer 2.64 crore equity shares to public in the IPO, while the government will simultaneously sell 10 per cent of its stake in the company to state refiners.
Financial planners also believe that retail investors should avoid the IPOs or direct stock route because it is too risky for them.
Insurance regulator IRDA proposes to come out with disclosure norms for initial public offering (IPO) by insurance companies by this month end, its chairman J Hari Narayan said.
Facebook is appealing the class certifications, which the Menlo Park, California-based company said are "without merit" and conflict with "well-settled" precedent
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
The Securities and Exchange Board of India made it mandatory to grade all IPOs starting May 1, 2007.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
UB Group Chief Vijay Mallya on Tuesday said the Group would raise a total of $400 million over the next one year, which includes an IPO for its aviation business, Kingfisher Airlines.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
Uber's draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India, reports Karan Choudhury.
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.
State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes. Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece. The Sensex, on the other hand, has risen 14 per cent in the past one year.
The Bengaluru-based firm competes with US rival Uber whose lukewarm IPO last year has contributed to the lag in valuation trend among the unicorns across the Indian start-up ecosystem.
The decline in LIC's share price makes it the biggest wealth destroyer among IPOs which hit the market after COVID-19 took hold globally in 2020.
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.
Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. "Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo.
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.
