Seeking to boost listing of start-ups, markets watchdog Sebi on Thursday decided a slew of relaxations to norms, including reducing holding period for pre-issue capital and allowing discretionary allotment to eligible investors. The changes have been approved to the framework for listing on the Innovators Growth Platform, Sebi said in a statement after the board meeting. Other proposals approved include easing delisting requirements and relaxation in guidelines for migrating to main board.
Byju's is raising about Rs 2,200 crore ($300 million) as part of a larger round of new investment as the world's most valuable edtech company focuses on expanding its business in global markets and explores to do more acquisitions. According to industry sources, the new funding may value Bengaluru-based Byju's at $18 billion, up from a valuation of $16.5 billion in June this year. In June, Byju's became India's most valuable unicorn with a valuation of $16.5 billion, surpassing fintech company Paytm's $16 billion valuation.
Google is going ahead with a policy revision mandating 30% charge on in-app purchases across all apps on Play Store. This has left developers' community worried about tighter squeeze on their earnings, says Yuvraj Malik.
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
The dozen firms to have listed following their IPOs have seen an average listing day gain of 49 per cent. IPO applicants have made money on all the deals, barring two, which saw modest declines on listing day.
Foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation.
Market players said NBFCs and HNIs are recalibrating their plans based on the changing dynamics.
'To see a player that I have always followed, who is an example for me, to see him leave now brings me a lot of pain.'
Mukesh Ambani-led Reliance Jio has introduced a 20-per cent cashback offer on select prepaid plans, intensifying competition in the Indian telecommunications (telecom) market. Jio is the largest telecom service provider in India, with 443 million subscribers as of July. Jio's cashback offer will drive cross-selling across Reliance's various retail businesses, but the move is also being seen by some analysts as a signal that tariff hikes may not be around the corner just yet.
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
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'We have focused on profitable revenue, cash generating businesses, throughout our journey.'
Oil and select auto heavyweights bore the brunt of selling pressure; ONGC, RIL, Tata Motors, M&M key losers.
It reported adding 698,3146 subscribers in September, the lowest since it added 6.1 million in November 2017.
Even if the Paytm fiasco does not mark the end of the bull run, at least some sanity will return to the wild IPO market, observes Debashis Basu.
The ED has attached seven sugar mills worth over Rs 1,097 crore in a money laundering case against former Uttar Pradesh BSP MLC Mohammed Iqbal and his family, officials said.
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
More than 8 million people in Britain tuned in to watch England win
According to the chargesheet, Shetty told the police that she did not know anything about the HotShots and Bollywood Fame apps, allegedly used by the accused for uploading and streaming obscene content.
While Reliance Jio added 3.65 million users in May, both Bharti Airtel and Vodafone Idea continued to lose subscribers.
Competitive price will face stiff challenge from incumbents such as DD Free Dish
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
Allotment could be low, and expected listing-day gains can quickly morph into losses if sentiment takes a turn for the worse
Recently, Apple did two things differently. First, it entered video streaming sector with cheaper options and second it has opened up its OTT service for non-Apple users too.
About Rs 4,257 crore worth of bids have been received so far and the Centre hopes that retail investors - those investing up to Rs 2 lakh - will place bids worth at least Rs 750 crore.
Zomato's initial public offer (IPO) is scheduled to open for subscription on July 14 and is priced between Rs 72 - 74 per share. At the upper end of the price band of the offering, the company aims to raise Rs 9,350 crore. Most analysts have given a 'subscribe' rating to the issue for listing gains.
COVID-19 forced people to work from home turned into the fuel for new demat accounts, observes Debashis Basu.
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 currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
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The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
The number of telephone subscribers in India increased from 1,183.15 million at the end of May to 1,186.63 million at the end of June.
The Industrial Development Bank of India will acquire 10 per cent equity stake in the Nepal Development Bank Ltd, a private sector bank based in Kathmandu.
The government is selling over 18.62 crore shares or 3 per cent in Coal India at a floor price of Rs 266 apiece.
Barbeque Nation IPO: The promoters hold 60.24 per cent stake, CX Partners owns 33.79 per cent and Rakesh Jhunjhunwala's investment firm Alchemy Capital holds 2.05 per cent in the company.
FPIs would be classified into two categories instead of three, while the requirements for issuance and subscription of offshore derivative instruments would be rationalised.
