The QIP route was a big hit.
SpiceJet on Tuesday said shareholders have approved the transfer of its cargo and logistics services business to a subsidiary, on a slump sale basis, through an all-share deal worth over Rs 2,555 crore, a move that will help the airline to significantly reduce its negative networth. Besides, the shareholders have cleared the proposal to raise up to Rs 2,500 crore through the Qualified institutional placement (QIP) route. These developments also come at a time when the airline industry is slowly recovering after being battered by the coronavirus pandemic.
Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019.
Of the 59 IPOs for which the data is available, 36 IPOs received mega responses of more than 10x (of which, six IPOs more than 100x), while eight IPOs were oversubscribed more than 3x.
The government's holding in the bank will not decline below 58 per cent pursuant to the QIP.
SBI said the crisis in Grece would have little impact on the bank.
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Stocks such as NIIT, Punj Lloyd, Gati, Welspun India and BEML are favourites of the trading community.
Listed companies have seen equity deals worth Rs 23,500 crore in March.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
Industry players estimate the average payouts to be in the range of 50-75 per cent of the bankers' annual salaries. For the top performers, the bonuses could be 100-125 per cent.
'The deal pipeline across products is robust for 2024.'
Ashok Leyland, ITD Cementation India have more than doubled.
Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war.
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
SBI chief Rajnish Kumar said the focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
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Government divestment reached record figures after the financial crisis, at the same time as promoters were required to bring down their stake in companies to 75 per cent or less.
Year 2021 was another great year for fund-raising through equities. A total of Rs 1.8 trillion was raised through initial public offerings (IPOs), qualified institutional placements (QIPs), and rights issues, against the Rs 1.7 trillion raised in the previous year. Funds raised through IPOs quadrupled, while those from rights issues and QIPs reduced.
Some lenders in talks with LIC for pvt placement
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
The trends remained sluggish in the primary stock market
SpiceJet, India's second-largest private airline, kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress as it looks to raise much-needed capital. On Tuesday, the company sought its shareholders' approval to complete the process and to raise up to Rs 2,500 crore via a qualified institutions placement (QIP). It is in talks with multiple private equity investors as it tries to sell shares in the logistics arm to raise money.
The project is scheduled to be completed by March 2019, while work is expected to start by this financial year.
Budget this year has allowed PSBs to bring down govt stake to 51%
An intensive research on private equity has revealed interesting findings on a retail investors behaviour and returns from holdings
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Many are now hoping the markets remain in good stead as they look to finalise the dates for IPOs, such as UTI MF, Computer Age Management Services, Happiest Mind, and Angel Broking. Most of the issues are expected to come to the market in the second half of September.
IndiGo, India's largest airline, is in talks to raise fresh funds as a second wave of pandemic has led to collapse in travel demand. The airline may look to raise Rs 3,500-4,000 crore. On Monday, only 97,761 passengers flew. With flyers cancelling bookings, airlines had to put aside flights and operated only 1,306 of them.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
Market experts said disruptions caused by the pandemic - to businesses as well as the filing process - and the sharp decline in valuations were the reasons behind fewer new companies wanting to tap the capital markets.
The return of investor confidence in the equity markets is bringing some of the large companies back to the fund-raising table.
Experts said equity raising was also hampered due to flight of capital from foreign investors. FIIs have sold more $500 million (Rs 3,200 crore) in October.
The number of issues were the lowest since FY15, compared to 45 in FY18.
Earlier this month, market regulator Sebi had given go- ahead to the disinvestment department's proposal to give preference in share allotment to those PSUs located in states in which Neyveli's generating units were located.
'The ability to tailor schemes to market conditions and invest in unlisted equity and real estate, as well as commodities, makes Alternative Investment Funds a sought after platform.'
L&T had also sought shareholders' approval to raise $600 million through a qualified institutional placement.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
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