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Fund-raising via IPOs crosses Rs 31,000 cr
Posted on 7th October 2017
With the offering of Godrej Agrovert fully subscribed, fund-raising through initial public offerings (IPO) has crossed Rs 31,000 crore this year. Since the beginning of 2017, 25 companies have together raised an amount of Rs 31,996 crore. Market participants said fund-raising via IPOs could cross Rs 50,000 crore in 2017 and hit a record high.

The IPO of General Insurance Corporation (GIC Re) worth Rs 11,372 will begin on Wednesday. In the next few months at least ten companies are tipped to hit the market. These include a couple of insurance firms, a leading footwear brand and an asset management company among others.

These IPOs are expected to raise close to Rs 25,000 crore. The government will launch the IPO of New India Assurance later this month. Among the private sector companies, HDFC Life, Mahindra Logistics, and Khadims are expected to hit the markets this year.

Market participants said adequate liquidity in the market and the desire of private equity players to exit their holdings have created action in the primary market.

Listing gains and returns by newly listed companies as also the positive sentiment in the broader market are among the reasons attributed to the trend. Of the 24 companies which made their debut on the exchanges this year, 17 have listed at a premium. Avenue Supermarts, the owner of the D-Mart brand, listed at a whopping 102% above its issue price. This is the biggest listing day opening in 12 years after Nandan Exim whose stock opened at 140% premium to its issue price of `20 in June 2005.

Consumer electronics manufacturer Dixon Technologies which got listed last month listed at a premium of 54% to its issue price. Prataap Snacks which made its debut on the bourses on Thursday listed at a premium of 35%.

The newly listed companies have given good returns to investors, the BSE IPO index a gauge of newly listed companies rose by 41% year to date while the benchmark Sensex rose by 19.48% during the same period.

More than half of the total money raised through IPO was by financial services companies. BSE, HUDCO, ICICI Lombard, SBI Life, AU Small Finance Bank and CDSL are some of the financial services companies who completed their IPO in the last six months.

However, a huge chunk of funds raised through IPO was via offer for sale (OFS). The initial share sale of SBI Life and ICICI Lombard the biggest issues so far this year entirely offered for sale. While SBI Life raised Rs 8,400 crore, ICICI Lombard garnered Rs 5,700 crore.

Eris Lifesciences, BSE, and AU Small Finance Bank entirely offered for sales. The offerings of CL Educate, Shankara Building Products and S Chand and Company had a significant OFS portion.


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HDFC Bank may rely on Indian market for $2.3 billion share sale
Posted on 18th June 2018
Mumbai: HDFC Bank Ltd, the world’s most expensive major lender, is considering relying entirely on the Indian market for a share sale that could raise as much as Rs 15,500 crore ($2.3 billion), people with knowledge of the matter said.

The Mumbai-based bank is weighing seeking all the capital through a qualified institutional placement in India, rather than its usual practice of splitting the fund-raising between an offering of local stock and a sale of American depositary receipts, according to the people.


Salman Khan’s ‘Race 3’ crosses Rs 100 crore milestone over opening weekend
Posted on 18th June 2018
New Delhi: The Salman Khan box office charm shows no sign of fading. The actor’s latest festival release Race 3 crossed the Rs 100 crore mark over its opening weekend, making Rs 106.47 crore in domestic box office collections. The action thriller has emerged as the second highest opening weekend earner of the year so far after period saga Padmaavat that had made Rs 114 crore, but it had a five-day extended weekend compared to Race 3’s three days.

Sebi plans to amend takeover regulations
Posted on 18th June 2018
New Delhi: Securities and Exchange Board of India (Sebi) is likely to change certain provisions in the takeover regulations, including those pertaining to revision of open offer price, a senior official said.

The watchdog’s move comes after public consultations on a discussion paper about review of SAST (Substantial Acquisition of Shares and Takeovers) Regulations.


Sensex slips over 30 points as Asian shares skid on escalating trade war concerns
Posted on 18th June 2018
Indian stock markets opened on a lower note on Monday following weak Asian peers after trade war concerns escalated between two major global economies. The BSE Sensex slipped 38.51 points to a low of 35,585.73 points during early trade. The Nifty50 of the National Stock Exchange fell around 10 points. Out of 1,166 trading companies on the BSE, 558 advanced as compared to 556 declines indicating a slightly bullish trend in the market.

More trouble for Vijay Mallya, Enforcement Directorate files fresh chagesheet against Kingfisher boss
Posted on 18th June 2018
In more trouble for liquor baron Vijay Mallya, the Enforcement Directorate (ED) has filed a fresh chargesheet against him and his companies on charges of money laundering and allegedly cheating a consortium of nationalised banks to the tune of Rs 6,027 crore..

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