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.
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.
After a long time, real estate companies could hit the fund-raising trail. The reason is improvement in investor sentiment.
Walmart, the world's largest retailer, has paid $1.4 billion to buy out US-based Tiger Global's investment in e-commerce firm Flipkart, according to sources. The transaction puts Flipkart's valuation at $35 billion, against nearly $38 billion in 2021 when it raised funds from Japan's SoftBank, Walmart, and other investors. Tiger Global, Flipkart co-founder Binny Bansal, and Accel now have all fully exited the e-commerce firm by selling their stake to Walmart.
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.
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.
Global trend has affected Indian markets too, as two reputed IPOs were withdrawn due to lack of investor response.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.
The Centre could further moderate its divestment target for 2024-25 (FY25), as it does not expect large receipts from asset sales - except some ongoing strategic ones, including IDBI Bank, which could spill over into next financial year. Also, it may drastically reduce its FY24 divestment target of Rs 51,000 crore. "We are still evaluating the Budget estimates for FY25. "New big-ticket asset sales are unlikely.
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.
Expect corporate houses to raise funds via IPO in second half of this year.
It has been a slow 2022 thus far for the primary markets. In the last 8 months, only 16 companies have raised Rs 40,311 crore via the initial public offer (IPO) route, data from PRIME Database suggests. In comparison, 63 companies had raised a cumulative Rs 1.18 trillion via the IPO route in 2021. A large part of the funds raised in 2022 were on account of the two IPOs - Life Insurance Corporation of India (LIC) and logistics firm Delhivery - that raised a total of over Rs 26,000 crore between themselves.
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.
Among the Sensex firms, Infosys, NTPC, Power Grid, Titan, ITC, Tech Mahindra, Hindustan Unilever, Axis Bank, Tata Consultancy Services, Bajaj Finserv, Reliance Industries and UltraTech Cement were the biggest gainers. In contrast, IndusInd Bank, Kotak Mahindra Bank, Mahindra & Mahindra, JSW Steel, HDFC Bank and Maruti were the major laggards.
The move signals a strong demand from investors.
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.
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.
Multiple agencies to probe, regulatory crackdown on more companies expected.
The Bombay Stock Exchange today said 10 companies on its recently launched IPO index to track newly listed companies for the first two years would be excluded after completion of their term.
Although the third quarter of financial year (2023-2024) FY24 (Q3FY24) was marginally below expectations, Info Edge (India) is witnessing strong investment trends and hitting new highs. The big driver is optimism about a pickup in the jobs market, which benefits Naukri.com and could mean upgrades in Q4FY24 expectations. The JobSpeak Index, which Naukri.com releases on a monthly basis, is showing a "transformative shift".
In each public issue, 25 per cent of the shares on offer are reserved for the retail investor.
Mergers and acquisitions (M&As) in India are expected to stay buoyant, seen over the last three-four years, despite a slowdown in the first seven months of the calendar year. "M&A is a lumpy business activity, and we may suddenly see large deals taking place during the next two quarters of the calendar year. "This would help maintain the streak of strong M&A activity.
Broadcaster Nimbus Communication, which operates sports channel Neo Sports, is in talks with banks to float an initial public offer for nearly Rs 300 crore (Rs 3 billion).
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
Even within China, economic slowdown and stiffer competition may hit growth.
Reliance Power Ltd's public issue has so far generated demand for shares worth more than $179.5 billion (Rs 706,000 crore) as bids continued to pour in on the last day of the Anil Ambani Group firm's IPO.
Among the changes planned are removal of the Rs 4,000-crore (Rs 40-billion) minimum size criterion and an enhanced quota for the so-called anchor investors.
