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Disinvestment is a complex process, especially when handing over management control: DIPAM Secy
If we get into the Global Bonds club, it would be with our 'Dhotis and Sarees', says Finance Secretary T V Somanathan
3 stocks Rajesh Palviya is betting on for next week
If at all stock crosses above 580 level then it will again resume its uptrend which we have witnessed earlier part of this year. So looking at the overall setup, we are bullish on SBI also with a stop loss of 530. Bank of Baroda is another stock which we feel that upside can be continued towards 181-195 zone, one can buy and hold this stock also with stop loss of 150.
FM on Adani row: Regulators will take own actions
"â€‹It'll be regulators who'll do their job. RBI made statement, prior to that banks, LIC came out & told about their exposure (to Adani group). Regulators independent of govt, they're left to themselves to do what is appropriate so market is well regulated. So the regulators will do their jobs," said Sitharaman in a press conference.
Adani flagship shelves $122 million bond plan after market rout
The flagship firm of Indian billionaire Gautam Adaniâ€™s empire had planned the public note issuance for January, working with Edelweiss Financial Services Ltd., AK Capital, JM Financial, and Trust Capital, Bloomberg had reported in December. But activity has now stopped, according to the people, who asked not to be identified because the matter is private.
Budget 2023: The Amrit Kaal Budget is evolving
This will help lenders in assessing risk of each entity or individual and thus enhance efficiency in lending and significantly increase the market size for credit. Second, Central Data Processing Centre would help in ease of doing business in relation to the Companies Act.
ETMarkets Management Talk: Meghmani Finechem likely to end FY23 with topline of Rs 2,200 cr, says CMD Maulik Patel
â€œWe believe that we will end FY23 with a topline of around Rs 2,200 crore and EBITDA margin would be about 28%,â€ said Maulik Patel, chairman and managing director, in an interview with ETMarkets.
2 sectors Kunj Bansal is bullish on for medium term
But given the way the numbers have been improving, I think the numbers for PSU banks are likely to continue to improve. At some point of time, whenever we see stability in the market, we will see the buying interest coming back in the PSU banks and as a result, we can see them start going up again.
Budget: How Sitharaman smartly balanced economic stimulus with fiscal discipline
But stiff targets can serve as pressure for officials to find the enthusiasm for letting go of public assets. Sadly, that is no longer the case. This point is important not just for the fiscal math, but the opportunity cost of lost efficiency in the economy due to the continued presence of public sector enterprises in non-strategic sectors.
Adani stocks tracker: After Rs 9 lakh crore loss in 7 days, what should investors do?
Later on in the evening hours, global ratings agency S&P Global Ratings downgraded the outlook on Adani Ports and Special Economic Zone and Adani Electricity to â€œnegativeâ€ from â€œstableâ€, citing that the risks and concerns triggered by Hindenburg Research report have not been factored into its ratings.
What does govt spend most of its money on? Take a look
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Missed Q3 earnings this week? Here's a snapshot
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Real Estate sector looks attractive! Mahindra Lifespace & Brigade Enterprises top bets
We expect residential demand to remain unabated despite further rate hike expectations, as the industry continues to witness long-term pent-up demand and affordability will remain better than the pre-Covid level.
NFTs coming to Bitcoin sparks handwringing about crypto purists
While Bitcoin miners, who process and validate data on the blockchain, welcome the invention since it can boost fees for them, critics are concerned an influx of new trading volume may crowd out other financial transactions.
Budget 2023: Is it the end of the 80C investment industry?
Insurance companies have already started facing the heat of this unforeseen announcement. The proposal is going to have an impact of 10-12% in the top-line of the Life Insurance companies.
Sitharaman's capex salvo may spark rally in these 15 stocks
Anxieties on Adani Group are on but the uncertainty on Budget has reversed into a boon for markets
However, the new saga of Adani group is escalating the ambiguity adding questions on the India growth story. The nationâ€™s largest listed group, which accounted for 7% of Indiaâ€™s total market capitalisation has corrected to 3.7%.
Gold falls over 3% in a week; yellow metal staring at $1830 as bears take control
This notion had played a great role in pushing the Greenback sharply lower in the last few months. However, this speculation of incremental differential rates working against the Dollar was sabotaged by the ECB and the BoE as these two Central Banks, as per their respective pressers after their monetary policy decisions, seemed to indicate that even their terminal rates were well in sight.
Fed seen hiking policy rate above 5% as job gains surge
Powell has said he does not expect inflation to fall fast enough to allow the Fed to cut rates at all this year. Friday's Labor Department report did show slower growth in average hourly earnings to a 4.4% pace, from an upwardly revised 4.8% in December.
How Adani selloff stacks up against the biggest stock collapses
The short position put Ackman at odds with fellow billionaire, Carl Icahn, who became the companyâ€™s biggest holder. Icahn went on to defend the company, which sells weight-loss shakes and vitamins, and assailed Ackman â€” who exited his position by 201
Inside the 19-hour meltdown that junked Adaniâ€™s share sale
Gautam Adani chose to forgo the short-term victory of nailing the follow-on offer to protect his longer term relationships with marquee investors who otherwise were staring at some embarrassing mark-to-market losses on the sums they had committed.
Mind Over Money: How Vipassana helps this CEO to relieve stress, improve mindfulness & mental wellbeing
Research also showed that if mental health issues like stress, anxiety and depression are addressed upfront, then allied health conditions can also be resolved. So as an organisation we offer mental health counselling to colleagues.
Rollercoaster week sees 11 BSE 500 stocks give double-digit returns, ITC among them
The government hiked the National Calamity Contingent Duty (NCCD) on cigarettes by 16%. NCCD accounts for about 10% of overall taxes on cigarettes. Analysts expect the hike in the duty to give room for ITC to raise prices by about 1-3% across categories, which will subsequently drive its profitability.
5 world market themes for the week ahead
Then inflation data stunned investors by shooting to a 33-year peak, defying the RBA's most aggressive tightening campaign in modern history. Macro readings shocked the other way as retail sales fell the most since the darkest pandemic days and house prices suffered their biggest drop since at least 1980.
Wall Street ends down after stunning jobs growth raises Fed questions
The jobs report "was an incredible surprise and it raises a lot of questions about what the Fed is going to do next," said Kristina Hooper, chief global market strategist at Invesco. "What I think is causing some of
Wall Street Week Ahead: Signs of market strength cheer U.S. stocks bulls
When the S&P 500 has advanced in January, the market has gone on to rise in the subsequent February-December period 83% of the time, with an average 11-month gain of over 11%, according to an analysis of data going back to World War II by CFRA Research.
What P-notes are and how they can boost investments in country
How Hindenburg left Rs 10 lakh crore-hole in pockets of Adani bulls
Foxconn, Vedanta plan tech tie-up with STM
The Vedanta-Foxconn consortium is one of the five applicants seeking government incentives under a $10-billion package announced in December 2021 to promote domestic semiconductor manufacturing.
Adani Group may shelve plans to raise $500 m via overseas bonds
Partial payment through cash, prepayment of interest, push out maturities to 2025-26, additional collateral for loans against shares being worked out.
Paytm Q3 Results: Net loss narrows to Rs 392 cr, co turns profitable at EBITDA level
The reported operating profit improved by Rs 424 crore from the year-ago period, and margin improved to 2% of revenue from -27% year ago, due to sustained improvement in contribution profit and strong operating leverage.
Paytm Q3 consolidated loss narrows to Rs 392 crore
Paytm reported a positive EBITDA before ESOP cost (earnings before interest, taxes, depreciation, amortisation and employee stock option costs) of Rs 31 crore. This metric was negative Rs 393 crore in December quarter last year.
Hindenburg bet against Adani puzzles rival US short sellers
With the Adani Group, there are added complications: the shareholding is concentrated in the hands of the Adani family and its shares do not trade on exchanges abroad
Ford's pain underscores uneven impact of two-year auto chip shortage
Ford said on Thursday it left billions of dollars on the table that were within its control and blamed a 100,000 vehicle shortfall in its fourth-quarter volume mostly on the inability to obtain enough chips
Sebi mulls to provide option to AIFs to carry forward unliquidated investments to new schemes
At end of the tenure of a scheme beyond two years and extended tenure of Large Value Funds for Accredited Investors (LVF), Sebi proposed that the AIF manager may close the existing scheme and transfer the unliquidated investments to a new scheme, subject to obtaining the consent of 75 per cent of investors by value
ITC Q3 Results: Net profit jumps 21% YoY to Rs 5,031 cr, revenue up 17.5%
The company's board declared an interim dividend of Rs 6 per share for FY24.According to ITC, for the quarter ended December 31, 2022 it had earned an operational revenue of Rs 17,265.48 crore (Q3FY22, Rs 16,806.89 crore) and a net profit of Rs 5,031.01 crore (Rs 4,156.20 crore)
Big tech earnings: Apple, Amazon and Alphabet post disappointing results
Two entities offload GMR Airports Infra shares worth Rs 330 cr via block deal
According to block deal data available with the BSE, two entities -- C/D Investors Fund LP and H/D Investors Fund LP -- sold a total of 8,86,58,600 shares, amounting to a combined stake of 1.5 per cent in the company
Oil surges after strong U.S. jobs data
The U.S. central bank on Wednesday scaled back to a milder rate increase than those over the past year, but policymakers also projected that "ongoing increases" in borrowing costs would be needed.Increases in interest rates in 2023 are likely to weigh on the U.S. and European economies, boosting fears of an economic slowdown that is highly likely to dent global crude oil demand, said Priyanka Sachdeva, market analyst at Phillip Nova
U.S. Treasury makes more Tesla, Ford, GM EVs eligible for tax credits
Treasury had said in December it would use Environmental Protection Agency (EPA) CAFE standards to determine whether a vehicle was a car or SUV for EV tax credit purposes but said Friday it will now use the consumer-facing EPA Fuel Economy Labeling standard ... this change will allow crossover vehicles that share similar features to be treated consistently
Rating agencies, partner help ease pressure of Adani
This is after a over USD 100-billion rout in value of group stock since the US short seller Hindenburg Research accused Adani group of stock manipulation and accounting fraud. Adani Group has repeatedly denied any wrongdoing and has threatened to sue Hindenburg
Sebi allows promoters to use ETF route to meet minimum public shareholding norm
The regulator has allowed promoters and promoter group entities to sell shares to exchange traded funds to meet the public shareholding norms. This provided promoters are selling a maximum 5% of the paid-up equity share capital of the listed entity.
Hindenburg Effect: S&P Global downgrades outlook on 2 Adani cos to 'negative'
The company has responded to the allegations and also decided to return funds from a fully subscribed $2.4-billion offer of shares in the promoters' flagship company Adani Enterprises Ltd due to market volatility
Marico Q3 Results: PAT rises 6% to Rs 328 crore
The international business sustained its healthy growth momentum with constant currency growth of 8%. Each of the markets exhibited strength amidst macroeconomic uncertainty and currency devaluation headwinds," it said.India business delivered a turnover of Rs 1,851 crore, up 2% on a YoY basis. Meanwhile, international business posted a turnover of Rs 619 crore with 8% constant currency growth.
Dollar slips as euro picks up ahead of U.S. jobs data
The U.S. currency dipped against the euro, reversing earlier gains. The euro was last up 0.17% to $1.093, remaining far above September's 20-year low of $0.953.The Federal Reserve's Open Market Committee (FOMC) on Wednesday raised interest rates by 25 basis points to a range of 4.5% to 4.75%, a softer approach than the previous increase of 50 bps
ECB policymakers converging on end-point for rate hikes
The central bank for the 20 countries that share the euro has raised interest rates by a combined 3 percentage points since July, the most in its history, and on Thursday promised another big move in March.Yet markets still pared bets on further rate hikes overnight, interpreting the bank's lack of guidance on subsequent moves as evidence its commitment to fighting inflation is waning
Wall St falls as jobs data fans higher rate fears
Apple Inc forecast another revenue decline at the start of the year, but its shares reversed course to trade 3% higher
Stocks, bonds tumble as stellar US jobs report may force Fed rethink
The MSCI index of global shares fell 0.3%, having hit its highest level since August on Thursday in a rebound buoyed by optimism that central banks are close to the end of their aggressive rate hiking cycles.The keenly-watched U.S. nonfarm payrolls report showed U.S. employers added 517,000 new workers in January, vastly overshooting expectations of economists polled by Reuters for a 185,000 gain
Market Watch: Make or break level for Nifty at 17353
Fed seen likely to lift rates above 5% after strong jobs report
That was the read from traders of interest-rate futures on Friday after the U.S. Labor Department reported employers added more than half a million jobs last month, far more than expected. Prices in those contracts fell sharply, and now reflect a better than even chance that the Fed will keep raising interest rates to the 5%-5.25% range by June, if not by May
PGIM India Mutual Fund launches PGIM India CRISIL IBX Gilt Index - Apr 2028 Fund
The investment objective of the scheme is to generate returns that correspond to the total returns of the securities as represented by the CRISIL IBX Gilt Index - April 2028 (before fees and expenses), subject to tracking errors.
Mirae Asset Mutual Fund launches Mirae Asset Flexi Cap Fund
The flexi cap fund will invest across market capitalisationâ€”large cap, mid cap and small cap, thus offering a large investment horizon to help investors capture the growth curves across sectors.
Hold a judicious mix of assets to ride out the ups and downs, unpredictability
Restrictive Rates or Rate Cuts, what will happen in 2023? Investors, analysts, and money managers seem to be divided over whether monetary conditions in the worldâ€™s largest economy would stay tight in 2023 till inflation comes down or loosen up to support slowing growth.
Could Fed pause rate hikes in March or at least May? Mahendra Jajoo explains
"There is a little bit of disconnect between the market and the Fed because the market is watching the inflation numbers coming down and the market is also factoring in the fact that the factors which were contributing to inflation have also begun to ease. For example, the natural gas prices which have gone to a high of $9 plus are now at about $2.5."
Spooked by Adani pack, FIIs find comfort in safe consumption stocks: Sunil Subramaniam
â€œInternationally, there is going to be a slowdown but India is going to be a growth economy. And from that point of view, I do not think that growth not getting respect right now in today's market is going to be a very long lasting phenomenon. There is a temporary reallocation into safety.â€
Budget 2023: Will taxation on high value insurance be positive for debt mutual funds?
â€‹Mutual fund managers believe that the high net worth individuals can use debt mutual funds instead of these insurance products.
How your mutual funds performed after Budget 2023?
Most equity mutual fund categories lost 0.01-2.68% on the budget day. Only the technology fund category gained 0.67%.
Nippon India Mutual Fund launches Nifty SDL Plus G-Sec â€“ Jun 2029 Maturity 70:30 Index Fund
The scheme will have two Plans: Regular and Direct. Each Plan offers growth option and income distribution cum capital withdrawal (IDCW) option. Index shall mature on June 29, 2029 and hence has a defined maturity date.
New income tax regime: Will ELSS mutual funds lose their charm?
Financial advisors say most new taxpayers are likely to opt for the new regime as it allows them to pay taxes easily, without elaborate tax planning. The old regime calls for meticulous planning through the year if one wants to avoid the last minute rush.
Budget 2023: Market to remain volatile till relative valuation of India is more comfortable: S Naren
â€œFII exodus has come out of the relative valuation of India versus the world and this Budget was not something that could have completely changed sentiment because the government has to do fiscal consolidation. They have to stimulate growth and they have done both. This is the reason why the immediate reaction has been positive but the Budget cannot change market valuations.â€
Mutual funds have low exposure to Adani companies
Adani Enterprises and Adani Port are constituents of the Nifty 50, so they are automatically in portfolios of some exchange-traded funds (ETFs) and index funds. But active funds have very little exposure to Adani stocks and are largely unscathed by their fall.
Five prominent mutual fund managers decode Budget 2023
"The Union Budget has a dual focus on growth and fiscal consolidation. The fiscal calculation is based on a nominal GDP growth projection of 10.5% which is credible. At the same time, the fiscal deficit target at 5.9% is largely in line with our estimates while the borrowing amount is slightly below our expectations."
Budget 2023: Debt mutual funds to gain from governmentâ€™s lower fiscal deficit, borrowing numbers
To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore.
Sebi to be empowered to enforce norms, standards for education at NISM: FM
Globally, Sebi-run NISM is one of the largest financial market certifying institutions, issuing over 20 programme certificates covering various critical market functions such as sales, advice, operations and compliance across financial market products such as equities, derivatives of equity, currency, interest rates and commodities, mutual funds and pensions.
Budget 2023: Will the government's infra push help infrastructure mutual funds?
Currently, there are 17 mutual fund schemes that invest in the infrastructure sector. Toppers in this category have offered 13-19% returns in one year.
How will Budget 2023 impact your mutual funds?
The finance minister did not grant anything from the long wishlist in the budget. Sure, all the spending on infrastructure and sops to MSME would help economic growth and boost the sentiment in the stock market.
Redemption of equity mutual funds to be faster
Earlier when you placed a redemption request before the cut-off time on Monday, you would get money on Thursday in your bank account. With the new system, you will get the money a day earlier â€” on Wednesday.
Mutual funds witnessed significantly lower inflows during April-November 2022: Economic Survey
As per AMFI data, growth/equity-oriented schemes and solution-oriented schemes witnessed inflows of Rs 1.53 lakh crore and Rs 1,554 crore respectively.
Axis AMC looks to garner Rs 3,000 crore from business cycles fund
The open-ended equity scheme will follow business cycle-based investing theme, the fund house said on Tuesday.
Axis Mutual Fund launches Axis Business Cycles Fund
According to the fund house, the domestic economy is in an interesting phase right now. The onset of the Covid 19 pandemic made matters more challenging amid the NBFC crisis pre-pandemic.
Do your mutual funds have investments in battered Adani stocks?
ETMutualFunds looked at data and found out that several mutual funds had investments in the Adani Group companies like Adani Enterprise, Adani Green Energy, Adani Ports & Special Economic Zone (SEZ), Adani Power Ltd., Adani Total Gas., Adani Transmission, Adani Wilmar, Ambuja Cement, and ACC Ltd.
Why Target Maturity Funds are ideal for mutual fund investors at this juncture
Inflation in India went up in sync with the rest of the world and in a bid to tame inflation, the Reserve Bank of India (RBI) has raised the policy repo rate by 225 bps from 4% since May 2022 to 6.25% to 6.25% as of December 2022.
Sandeep Tandon on Adani effect on market and Budget impact
â€œIf we look at the Quant Fear Index, in the last two or three days, when this fall unfolded in a big way, it did not spike up to that extent to say reversal. It can settle down in the next few trading sessions. We are closer to that event which means the downside may not be very significant from the current levels.â€
Do I need to make changes to my mutual fund portfolio?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
Will Budget 2023 reduce LTCG tax on gold funds and ETFs?
To encourage retail investors to invest in gold through the mutual fund route rather than buying physical gold, AMFI had proposed that LTCG on Gold ETFs and Gold Fund of Funds should be brought down in the Union Budget 2023.
Franklin India Bluechip Fund: Fund review
While the fund made a strong comeback in 2021, it slipped again in 2022, lagging the index sharply. This leaves its long term return profile weak, needing a lot of catch-up with index and peers.
Has your value mutual fund delivered outsized returns?
Funds with diluted value bias have failed to make most of the current uptick.
Equity mutual fund to shift to T+2 settlement cycle from Feb 1
From Friday, Indian equity markets moved to a T+1 settlement cycle for all stocks, shortening the settlement cycle by a day and making the availability of funds a day sooner than at present.
Edelweiss Mutual Fund launches short duration index fund
Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund will replicate CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index by investing in a diversified portfolio of Indian Government Bonds and SDLs, subject to tracking errors.
Will these mutual funds help me to retire at 45?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
ITI Mutual Fund launches ITI Flexi Cap Fund
The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The fund will invest predominantly in equity and equity related instruments across market capitalisation- large cap, mid cap and small cap companies.
Why investors should add flexi cap funds to their portfolio
This belief has translated to flexicap category being the largest equity investment category in the given scheme classification of mutual funds. The category has garnered approximately Rs 2.49 lakh crores of AUM which is in 1.25 crore folios.
DLSS in Budget 2023? Should you invest in DLSS or ELSS?
Several fund managers believe that time is right for the government to introduce a debt mutual fund option under Section 80C. AMFI says it will also help to channelise household savings into the bond market and deepen the bond market.
Right mutual funds for a 51-year-old investor
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
28 equity schemes consistently beat their benchmarks in 3, 5, 7, and 10 years
The purpose of this was to see how many schemes consistently beat their benchmarks in different periods like three, five, seven, and 10 years. Mutual fund advisors often ask investors to choose schemes that have consistently beaten their benchmarks over a long period of time.
Will Budget 2023 bring in tax parity between mutual funds and ULIPs?
Returns from equity mutual funds are taxed depending on the period of holding the investment. ULIPs are not taxed as they are considered insurance products.
Should you invest in Equity Savings Funds?
Conservative investors who are moving from deposits to mutual funds or those worried about a full-equity portfolioâ€™s volatility and wanting a small allocation to stocks can consider equity savings funds.
HDFC AMC Q3 Results: Profit up 3% YoY to Rs 369.5 crore
As of December 31, 2022, 66% of the companyâ€™s total monthly average AUM is contributed by individual investors compared to 58% for the industry.In an exchange filing, the company said that it had a market share of 12.8% of the individual monthly average AUM in the industry, making it one of the most preferred choices of individual investors.
Manish Gunwani appointed as Head-equities at IDFC Mutual Fund
Gunwani also served as the Deputy CIO (Equities) at ICICI Prudential AMC. Gunwani graduated from IIT Madras and has a postgraduate diploma in management from IIM Bangalore.
3 ways to reduce financial anxiety in 2023
Investors must focus on the processes and controlling the controllable and not worry too much about other things, for e.g., macroeconomic factors like interest rates, inflation and crude oil prices which are beyond oneâ€™s control.
Fiscal deficit an important variable to track in Budget 2023, say mutual fund managers
According to fund managers, the government will most likely meet its fiscal deficit aim of 6.4% of GDP in FY23 aided by robust tax revenue growth and higher than budgeted growth in nominal GDP.
Nippon India ETF Nifty PSU Bank BeES, Kotak Nifty PSU Bank ETF offer over 50% returns in one year
Most of the schemes in the category had high exposure in private banks. Among PSU banks, the best performing schemes had investments in Bank of Baroda, State Bank of India, and Punjab National Bank.
Budget 2023 should bring tax parity between mutual funds and NPS
To help mutual funds penetrate further into smaller towns and cater to investors long term goal like retirement, here are a few recommendations made by Association of Mutual Funds in India (AMFI) for the Budget 2023.
IDFC Mutual Fund in Talks to Hire Manish Gunwani as CIO
The fund house managed Rs 79,000 crore in fixed income and Rs 28,360 crore in equity as on December 31, 2022.
Gold ETF Inflow Slumps in 2022 on Rising Prices
"A rising price (of gold) puts some pressure on investors, with people holding back investments."
Gold and silver funds offer double-digit returns. Should you invest?
There are a total 24 schemes investing in gold at the moment. Silver funds are a new entrant to the mutual fund market. There are 12 schemes in the category, including ETFs and FOFs.
Fund review: PGIM India Midcap Opportunities Fund
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
The curious case of Quant AMC mutual funds: Can it sustain the results for the long term?
A radically different investing style has put the fund house in the spotlight.
Insurers want NPS tax exemption for their pension schemes, too
"There is a case to make pension plans from insurance companies on a par with NPS which has a separate limit. Globally, we have seen that separate tax saving limits for insurance goes a long way in increasing penetration and India is no exception," said Tarun Chugh, CEO Bajaj Allianz Life Insurance.
Good time to move some funds to high-yielding bonds, says DSP Mutual Fund's Ramakrishnan
Three Indian issuers that are rated A- and below are scheduled to raise funds next week via shorter tenor bonds, indicating an improved investor appetite for such notes. The rates for these papers are in the range of 10.50-14.00%.
Adaniâ€™s Abu Dhabi investor says FPO funds have been returned
The funding from IHC, which is controlled by a key member of the emirateâ€™s royal family, would have represented about 16% of the offering and would have built on an almost $2 billion investment in Adaniâ€™s companies last year
Adani Enterprises cancels FPO, to refund investors
"Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company told exchanges after a board meeting Wednesday evening.
Adani Enterprises calls off FPO, shares worth Rs 20,000 crore to be returned to investors
Adani Enterprises calls off FPO, money to be returned to investors
Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances
Adani Enterprises FPO fully subscribed on final day
The flagship entity of the Adani Group got bids for 50.9 million shares against an offer size of 45.5 million shares, excluding the anchor book, at a price range of â‚¹3,112-3,276 apiece. Adani Enterprises closed 2.8% higher at â‚¹2,973.90 Tuesday on the BSE, having dropped for two days in a row. The benchmark Sensex ended almost flat Tuesday.
Adani Enterprises FPO fully subscribed; Group survives Hindenburg attack with NII support
Digit Insurance to revamp $440 mln IPO again after regulator concerns
Such rights allow an employee to receive a bonus equivalent to the rise in the company's stock price over a certain period - something Indian regulations prohibit for companies going public.
Bajaj Solutions gets Sebi nod to float IPO
Balaji Solutions' revenue from operations stood at Rs 482 crore in FY22, falling marginally due to normalisation post-easing of Covid-19 lockdown restrictions, while profit for the same period came in at Rs 15 crore.
Balaji Solutions, Enviro Infra Engineers get Sebi nod to float IPO
The company may consider a pre-IPO placement aggregating up to Rs 24 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance worth Rs 86.60 crore will be utilized for funding incremental working capital requirements of the company, and general corporate purposes.
Abu Dhabi-based IHC commits $400 million to Adani Enterprises FPO
Additionally, AEL is close to receiving further investment commitments of $1-1.1 billion (around â‚¹8,100-9,000 crore) from investors in Middle East and Southeast Asia with the announcement expected on Tuesday when the FPO closes, said a person directly aware of the matter.
FirstMeridian Business Services files fresh draft papers for IPO; cuts issue size to Rs 740 crore
Incorporated in 2018, FirstMeridian provides a wide range of service offerings, including general staffing and allied services, by offering solutions for contract staffing, workforce automation, trade marketing, and global technology through short and long-term technology contract staffing
Abu Dhabiâ€™s IHC to invest $400 million in Adani Enterprises FPO
IHC will make the investment through its subsidiary Green Transmission Investment Holding RSC Limited.
Adani Group says FPO to continue as planned; rules out changes in price, dates of FPO
Adani Enterprisesâ€™ FPO gets a muted start
According to the offer documents, the company proposes to use '4,165 crore of the issue proceeds to repay the debt owed by the company and three subsidiaries - Adani Airport Holdings, Adani Road Transport and Mundra Solar.
What is an FPO & how does it benefit the company, shareholders?
Adani FPO open from Friday: Dates, price band, review, other details in 10 points
The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.
PayMate India told to re-file IPO papers with updated info
The capital markets regulator said it returned PayMate's offer document back to its merchant bankers on January 17. PayMate said in a press release it aims to submit the mandatory system audit report (SAR) to the Reserve Bank of India by the second week of February. Submission of SAR to the central bank is part of the standard operating protocol to receive final approval from the central bank as payment aggregator, it said.
Hotel development and investment firm SAMHI planning to file revised DRHP
The Goldman Sachs- and Equity International-backed company had filed a DRHP with the markets regulator in 2019 to raise about Rs 1,900 crore through an initial public offering of shares, but the plan was shelved due to the pandemic.
Avalon Tech gets Sebi nod for IPO; PayMate India asked to refile draft papers
The company plans to use the proceeds from the fresh issue to repay outstanding loans availed by it and its subsidiary Avalon Technology and Services Pvt Ltd, and also to meet working capital requirements
Reliance Jio, Retail IPOs unlikely this year: JP Morgan
RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. "While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely," the brokerage said.
Gautam Adani Group plans atleast 5 IPOs in 2 years between 2026 and 2028
Asiaâ€™s richest man plans on IPOs for at least five companies
Adani Group has consistently aligned itself to support Prime Minister Narendra Modiâ€™s agenda. It has pledged more than $70 billion to help India pivot from being a fossil fuel importer to a generator of renewable energy.
Rashi Peripherals files DRHP to raise Rs 750 cr via IPO
According to the draft papers, the public issue with a face value of Rs 5 per equity share consists of a complete fresh issue of shares of Rs 750 crore with no offer-for-sale component.Of the proceeds from its fresh issuance, Rs 400 crore will be utilised for prepayment/repayment of all or a portion of outstanding borrowings availed by the company, and Rs 200 crore will be used to fund working capital requirements and general corporate purposes.
Adani FPO opens Jan 27 at Rs 3,112-3,276 per share
The company will offer partly paid shares to retail investors at a discount of â‚¹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.
Tata Tech starts work on IPO to raise up to Rs 4,000 crore
Secondary share sale to offer exit to legacy fin investors, growth equity for expansions.
Oyo to refile updated DRHP with Sebi by mid-Feb
The company had filed its draft red herring prospectus (DRHP) for the IPO with Sebi in September 2021 and is aiming to raise Rs 8,430 crore. Oyoâ€™s last submission to Sebi was the updated financial results of the first half of financial year 2022-23.
Innova Captab, Blue Jet Healthcare get Sebi's nod to float IPO
As per the draft papers, Innova Captab's proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders.
Sebi returns Lava International's draft IPO papers; asks to refile with updates
The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware.
Two pharma companies get SEBI nod to raise funds via IPO
Innova Captab is an integrated pharmaceutical company in India with a presence across the value of the pharmaceutical chain including research and development, manufacturing, drug distribution and marketing, and exports. The company filed preliminary IPO papers with Sebi on July 07, 2022.
Adani Enterprises to launch Rs 20,000 crore FPO
Adani Enterprises files papers for Rs 20,000 crore FPO
The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%. As of September 2022, the promoters owned 72.63% of Adani Enterprises, while the remaining 27.37% was with public shareholders. Life Insurance Corporation held 4.03% among the public shareholders, while Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund, and Lts Investment Fund owned stakes between 1% and 2%.
IPOs delayed as Dalal Street stays volatile, investors bearish
In the past six months, 27 companies with IPO plans worth â‚¹38,000 crore have allowed their regulatory approvals to lapse, according to Prime Database numbers. Similarly, the permissions to another nine firms planning to raise a total of â‚¹15,000 crore are set to expire over the next two months.
Furniture Retailer Stanley Lifestyles plans Rs 700-cr IPO
The company, ICICI Securities and JM Financial, did not respond to ET's queries. In 2018, Oman India Joint Investment Fund invested $24 million or â‚¹170 crore in the company for a 26% stake.
Cyient unit files DRHP for Rs 740 crore IPO
Cyient DLM focuses on highly complex, low-volume electronics manufacturing for safety-critical segments. The company had last year appointed Anthony Montalbano as its CEO.
International Holding Company, Gulf SWFs may go big on Adani Enterprisesâ€™ $2.5 billion FPO
Adani Enterprises late November announced the initiation of a much-awaited follow-on public offer (FPO) to raise as much as â‚¹20,000 crore ($2.5 billion) from retail and institutional investors, riding piggyback on the meteoric 18-fold jump in its stock prices in the last five years. This will be the largest such issuance in India to date.
Why SME IPOs are emerging as top fund-raising platform for promoters
For a developing country such as India, Small and medium enterprises (SMEs) are the wheels that turn the economy, and SMEs contribute to one-third of India's GDP. The SMEs have played an essential role in India's socio-economic development and in globally developed countries such as Germany. In fact, SMEs generate 54.4% of overall value added in Germany and 63.7% of overall employment in the German non-financial business economy.
JG Chemicals files preliminary papers with Sebi; to raise funds via IPO
Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides. It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research & Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm.
IPO tips from Zerodha CEO Nithin Kamath for B2C startups
He said setting right expectations, being transparent and not overselling are great ways to reduce the volatility of the stock price pre and post-IPO. "Doing this well can make shareholders feel like owners & help reduce customer acquisition costs, the biggest cost for B2C businesses."
Radiant Cash lists at over 9% premium to IPO price
Shares of the cash logistics player closed at â‚¹106.50, a 13% premium to the issue price. This is the first IPO to close above the offer price on listing day in the past six issues.
Sah Polymers IPO subscription closes today: Check GMP & other details
The quota for retailers was subscribed 39.78 times whereas the portion for non-institutional investors fetched 33.94 times bids, and the allocation for qualified institutional bidders was booked 2.40 times.
Sebi returns OYO's draft IPO papers; asks to refile with updates
The company had filed its Draft Red Herring Prospectus (DRHP) with Sebi in September 2021 and is aiming to raise Rs 8,430 crore
Sah Polymers IPO subscription to close tomorrow: Check GMP & other details
The company is selling its shares in the range of Rs 61-65 apiece between December 30 and January 4, in a lot size of 230 equity shares
IPO pipeline in 2023: 54 companies waiting to raise Rs 84,000 crore
Pranav Haldea, Managing Director, PRIME Database, said the momentum seen in the last 2 months of 2022 is likely to continue, at least for the smaller-sized IPOs. However, it may be a while before we see larger-sized deals, especially in light of the lack of sustained interest from FPIs, he said.
40 IPOs gave an average listing day gain of 10% in 2022: Report
Overall, 40 Indian corporates raised Rs 59,412 crore through main board IPOs in calendar year 2022, half of the Rs 1,18,723 crore (all-time high) mobilized by 63 IPOs in 2021, according to the database. According to Pranav Haldea, Managing Director, PRIME Database Group, Rs 20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone.
A lot is riding on Mamaearth's Street debut for FMCG Inc
In the past two years, several large FMCG companies, such as HUL, ITC, Marico, Emami, Reckitt, Wipro Consumer and Colgate Palmolive, have picked up stakes in DTC digital-led startups that garnered popularity among consumers during the Covid-19 pandemic.
Rishabh Instruments files draft papers with Sebi to mobilise funds via IPO
Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes.
Sah Polymers IPO subscribed 2.37 times on Day 2
Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.
Oyo IPO likely to get delayed by a quarter as SEBI seeks refiling with updated information
Oyo has been asked to update information such as updated risk factors, key performance indicators (KPIs), outstanding litigations and basis for valuation, the people cited above said.
2022's last IPO: Sah Polymers issue open from today. Should you subscribe?
Incorporated in the year 1992, Sah Polymers is a leading PP woven bags manufacturer and exporter of PP woven bags and HDPE box bags, flexible intermediate bulk containers (FIBCs), and BOPP laminated bags.
KFin Tech closes a tad below issue price on listing day
The stock closed at â‚¹364 apiece on the BSE, down 0.55% from its IPO price of â‚¹366. The stock touched a high of â‚¹372.40 and a low of â‚¹351.10 during Thursday's trading. Analysts are advising short-term investors, who bet on KFin Tech's public issue, to book profits and re-enter after a clear trend emerges.
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