Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Even after the <keyword id="6473060" type="General" weightage="80" keywordseo="syrma" source="Orion">Syrma</keyword> SGS IPO received an overwhelming response, experts believe that another IPO season is not on the horizon.</li><li>The regulatory approval for at least 30 IPOs received in the last financial year will lapse by the end of the year. 31 IPOs received an approval this financial year.</li><li>Companies will watch the performance of the next few IPOs and the secondary markets before opening issues, say two market experts that Business Insider spoke to. </li></ul>Even before the public offer of <keyword id="14738256" type="General" weightage="50" keywordseo="syrma-sgs-tech" source="Orion">Syrma SGS Tech</keyword> was oversubscribed 33 times last week, three companies – Digit General Insurance, Concord Biotech and <keyword id="1126663" type="General" weightage="50" keywordseo="balaji-solutions" source="Orion">Balaji Solutions</keyword> – had filed their papers with the markets regulator in the third week of August to go public. Another IPO DreamFolks is all set to open for subscription this week. Yet, experts are not convinced that another IPO season is on the horizon. “It’s too early to say that the season of IPOs has started. A lot of companies in the pipeline will be watching for two things – the response that the next few IPOs get and also the market momentum. If the markets remain volatile, companies will allow their approvals to lapse,” Pranav <keyword id="3517398" type="General" weightage="80" keywordseo="haldea" source="Orion">Haldea</keyword>, managing director of Prime Database told Business Insider India. While a few companies like PharmEasy, Inox Green Energy and <keyword id="12727880" type="General" weightage="50" keywordseo="nandan-terry" source="Orion">Nandan Terry</keyword> withdrew their draft papers, scrapping IPO plans, at least four more companies’ approvals will lapse by the end of August. The approvals for another 15 will lapse by the end of the year. “IPOs are a once-in-a-lifetime event for companies and they would want to do it at the perfect time. If the market is not giving them the valuation that they expect, they will not go ahead,” said Haldea. Only <keyword id="4093871" type="General" weightage="50" keywordseo="utkarsh-small-finance-bank" source="Orion">Utkarsh Small Finance Bank</keyword> has re-filed its IPO papers, even as many more companies that planned to go for an IPO in the last financial year let it lapse. Over 32 IPOs that received a go ahead in 2021-22 have been put on hold, while 31 more received an approval in 2022-23. Of these 31 from the current financial year, only Syrma and DreamWorks have gone ahead and opened their issues to the public. A lot of companies file DRHPs assuming issues will sail through but a number of factors like valuations and demand for fresh issuances among domestic and foreign investors play a key role. “There are 10-12 conditions that they have in mind during the filing and many of these conditions may change,” said Arun <keyword id="6358183" type="General" weightage="80" keywordseo="kejriwal" source="Orion">Kejriwal</keyword>, founder of Kejriwal Research &amp; Investment Services. A lot of IPOs from last year that are still in the pipeline, had issue sizes between ₹400-800 crore. However there are a few like Emcure <keyword id="6363818" type="General" weightage="50" keywordseo="pharma" source="Orion">Pharma</keyword> which had plans to raise over ₹4,500 crore as well. The decision to go ahead with an IPO will not depend on the size of the issue, but on pricing, says Kejriwal. “When the momentum is good, subscriptions and listings are good, it’s possible to slip in a bad issue but not when the market is still picking up. After <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> capped the amount that HNIs (high networth individuals) can borrow to invest in IPOs to ₹1 crore, they will have to invest their own funds and that will make a huge difference to subscriptions,” says Kejriwal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/meet-indias-real-gully-boy-vidit-aatrey-of-meesho-is-taking-the-entrepreneurial-dream-deep-inside-bharat/articleshow/93702491.cms">Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/upi-transactions-will-remain-free-government-says-it-has-no-plan-to-charge-them/articleshow/93702248.cms">UPI transactions will remain free, government says it has no plan to charge them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slips-517-points-goes-below-the-60000-mark/articleshow/93701486.cms">Sensex slips 517 points, goes below the 60,000-mark</a>

Too early to say primary market is seeing a revival

IndiGo parent InterGlobe Aviation’s IPO, which was subscribed 87% of its Rs 3,018-crore issue size on the opening day, was not the only first timer. 
 
There were a plethora of investors who participated in the Indian IPO for the first time. 
 
The first time investors, who invested in the world's biggest and most profitable budget airlines, are Neuberger Berman, APG, Harvard Management Company, Davis International Fund, Hutchin Hill, Acacia Partners LP and Columbia Threadneedle. 
 
Reportedly, majority of these investors are raked in global low fare carriers. 
 
"A new investor is typically more cagey about putting in money than one with experience. These names show investors believe in IndiGo's business model and India's growth story," Prithvi Haldea, chairman and managing director of Prime Database, a tracker of primary markets told ET. 
 
Other investors who invested in the IPO included Merrill Lynch, Singapore government-owned GIC, Goldman Sachs, Fidelity Investments, DSP Blackrock and Wellington. The anchor book totalled Rs 832 crore at the top end of the price band at Rs 765 apiece.

IndiGo’s IPO is a hit even as it gets first time investors in to the Indian IPO market!

Paying no heed to SEBI’s rule of having at least one woman director on their boards, India's largest public sector units like ONGC, GAIL (India) Ltd, Indian Oil Corp and MMTC, as well as National Fertilisers, Oriental Bank of Commerce, and Power Finance Corp, are running without any woman directors, even as a year has passed since the rule came into force, and had a deadline of March 31st 2015.

	 
	 
	According to capital markets data provider PRIME Database, about half of the 56 NSE-listed companies, which do not comply with the said rule, are state-owned enterprises. 
	 
	"Though a bulk of the companies has met the criterion, there are some for whom it does not seem to be on top of their agenda," Pranav Haldea, PRIME Database MD told ET. 
	 
	It was two years ago that SEBI had asked all listed firms to have at least one woman director on their boards from April 1, 2015, so that gender-diversity in boardrooms can be assured. 
	 
	When enquired by ET, GAIL said that it is under the administrative control of the Ministry of Petroleum and Natural Gas and its "directors are nominated/appointed by the Government of India." 
	 
	<a href="http://exclusive.multibriefs.com/images/exclusive/1212gender.jpg">Image source</a>

State-run PSUs don’t want women directors on board, despite SEBI’s mandatory rule

India’s largest automobile company <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> has said that it will seek shareholders’ nod to raise Rs 7,500 crore through a <keyword id="6356017" type="UNKNOWN" weightage="20" keywordseo="rights-issue">rights issue</keyword>, which would be its biggest rights offering. 
 
Those of you who are wondering what rights offering is all about, here is a simple definition from investopedia: "Offering of common stock to investors who currently hold shares which entitle them to buy subsequent issues at a discount from the offering price." 
 
The decision in this regard was taken at meeting of the company’s board of directors held recently. The rights issue will be for both classes of shares – Ordinary shares and ‘A’ Ordinary shares. According to the company, the capital generated through this would be used for its growth as well as to reduce debt. 
 
“The quantum, pricing and timing of the issue will be decided at a later point in time, depending on the market conditions after shareholders’ and other approvals,” it added. 
 "Rights issues convey that promoters are willing to put in money. It reflects a commitment from promoters and is a strong signal to the market, that the company is confident about its future," said Prithvi Haldea, chairman and managing director, <keyword id="198574" type="COMPANY" weightage="20" keywordseo="Prime-Database">Prime Database</keyword>. 
 
The country’s largest vehicle manufacturer had raised a total of Rs 13,700 crore (including Jaguar Land Rover) in 2014. Its consolidated debt stood at Rs 60,642 crore as on September 2014. 
 
"Tata Motors has done it before. Tights issue doesn't ring any alarm bells. We all understand that Tata Motors is not an India story. Top line and bottom line accrue largely from JLR," said Arun Kejriwal, founder and CEO KRIS Research.

Tata Motors Seeks Shareholders' Nod For Rs
7500-crore Rights Issue

Mumbai, Dec 26 () Reflecting the woes of the broader economy, fund raising through IPOs plunged to a low Rs 12,362 crore in 2019, down a full 60 per cent from 2018 when the street mopped up Rs 30,959 crore. 
The outgoing year saw only 16 initial public offerings (IPOs) as against 24 in 2018, show the data collated by the premier database on the capital market Prime Database.
 That the economy is in bad shape -- Q2 GDP has come in at near seven-year-low of 4.5 per cent and there is no sign of any improvement going forward -- is clear from the fact that as many 47 companies who got Sebi nod to raise over Rs 51,000 crore through IPOs allowed their same to lapse.
 However, driven by offer-for-sale and qualified institutional placements, the street saw 28 per cent growth in overall fund raising at Rs 81,174 crore in 2019, against Rs 63,651 crore in 2018 but this is 49 per cent lower than the all-time high of Rs 1,60,032 crore raised in 2017, says Pranav Haldea, managing director at Prime Database Group.
 The year 2017 saw 36 IPOs mopping up Rs 67,147 crore, while 2016 saw 26 issues collecting Rs 26,494 crore and Rs 13,614 being raised in 2015 through 15 issues and 2014 being the worst at Rs 1,201 crore from five IPOs, show the data.
 The largest IPO in 2019 was from Sterling &amp; Wilson Solar which raised Rs 2,850 crore, while the average issue size was Rs 773 crore.
Only three of the 16 IPOs that hit the market had a prior PE/VC investment, a notable change from previous years. OFS by such PE/VC investors stood to Rs 803 crore, accounting for just 6 per cent of IPO amount. OFS by promoters at stood at Rs 7,513 crore, or 61 per cent of total IPO amount.
 Seven IPOs got mega responses of over 10 times (IRCTC at 109 times followed by Ujjivan Small Finance Bank 100 times), CSB Bank 48 times, Affle 48 times, Polycab 36 times, Neogen Chemicals 29 times and Indiamart Intermesh 20 times), one issue was oversubscribed by over three times, the balance seven were oversubscribed between one and three times.
 But from the listing side, the year was good with IPOs with strong debut trade. Of the 15 IPOs which got listed, seven gave a return of over 10 per cent, based on closing price on listing date. IRCTC gave a stupendous return of 128 per cent, followed by CSB Bank (54 per cent), Ujjivan (51 per cent), Indiamart Intermesh (34 per cent), Neogen Chemicals (23 per cent), Polycab (22 per cent) and Affle (17 per cent). 
 Significantly, unlike in previous years, only two IPO stocks are trading below the issue price now with the rest 13 stocks trading between 21 per cent and 170 per cent above the issue price as of December 23. 
 For the first time since the SME platform started five years ago, the IPO activity declined in 2019 as there were only 50 SME IPOs in the year collecting a paltry Rs 621 crore as against 141 issues in 2018 worth Rs 2,287 crore and 133 issues in 2017 raising Rs 1,679 crore and 67 issues raising Rs 537 in 2016 and 43 issues raising Rs 260 in 2015 and 40 IPOs collecting Rs 267 crore in 2014.
 The OFS to dilute the promoters' holding saw a huge increase from Rs 10,672 crore raised in 2018 to Rs 25,811 crore in 2019. Of this, government divestment accounted for Rs 5,871 crore or 23 per cent of the total led by it diluting its stake in Axis Bank in February worth Rs 5,358 crore, followed by SBI Life (Rs 3,524 crore) and HDFC Life (Rs 3,366 crore). 
 OFS accounted for 32 per cent of the total public equity markets amount in the year.
 The street saw 11 companies mobilizing Rs 35,238 crore through QIPs, which is 112 per cent more than Rs 16,587 crore raised in 2018. The largest QIP of 2019 was from Axis Bank raising Rs 12,500 crore, accounting for 35 per cent of the total QIP amount. QIPs were dominated by banks, NBFCs and realty companies accounting for 87 per cent (Rs 30,688 crore) of the overall amount.
 InvITs/ReITs also saw good traction with the year seeing the first ever ReIT listing by Embassy Office Parks raising Rs 3,874 crore. The overall amount raised through InvITs and ReITs was 127 percent more than in previous year.
 Of the total Rs 81,171 crore, fresh capital was Rs 45,937 crore or 57 percent and the remaining Rs. 35,234 crore being offers for sale.
But the year was bad for divestments as against the budgeted Rs 1,05,000 crore on Rs 17,744 crore or 17 percent has been achieved till date.
 According to Haldea, the IPO pipeline continues to remain strong with 21 companies holding Sebi approval to raise Rs 18,700 crore and another 13 wanting to Sebi not to raise Rs 18,000 crore. BEN MR
MR

Fund raising via IPOs plunge 60% in 2019 as economy sputters

Following a board meeting on 21 June, the Securities and Exchange Board of India (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) <a href="https://www.sebi.gov.in/media/press-releases/jun-2018/sebi-board-meeting_39324.html">unveiled a number of changes </a>in the country’s initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>) rules as well as <keyword id="56788" type="ORGANIZATION" weightage="20" keywordseo="Governance">governance</keyword> norms. The move by the <keyword id="6544108" type="COMPANY" weightage="20" keywordseo="Capital-markets">capital markets</keyword> regulator was part of a concerted effort to make the IPO process easier and in alignment with the rules in other countries. The updated rules will be included in the recent Companies Act of 2014. They were based on the recommendations of panel of market experts led by Prithvi Haldea, the founder of the country’s first database on primary capital markets. Here are the major changes that SEBI made:- <ul><li>Companies looking to go public will only be required to provide financial accounts and <keyword id="49224" type="ENTERTAINMENT" weightage="20" keywordseo="Disclosure">disclosure</keyword>s for the three years prior to the issue, as opposed to five years, in line with international norms. The disclosure process will also be made less cumbersome as companies will only be required to submit their consolidated financial statements instead of both the standalone statements for group companies and the consolidated statements of the parent company. </li></ul><ul><li>The pricing band, or the envisioned share price, for a company’s rights offering can be made public two days prior to the IPO instead of five days earlier. This will help prevent wide deviations from the price band owing to market volatility.</li></ul><ul><li>The category of anchor investors, or institutional investors taking a large portion of shares in the offering, has been expanded to include mutual funds, insurers and venture capital funds in addition to investment banks. As a result, they can fill in for a shortfall in the contribution of a promoter if needed. Furthermore, to qualify as an anchor investor for the IPO of a small-and-medium-sized enterprises, a fund can invest a minimum of ₹20 million instead of ₹100 million.</li></ul>The regulator did, however, impose a few restrictions to prevent any fraud or tax evasion through IPOs. It expanded the definition of “promoter groups” to include immediate family members and relatives, and lowered the shareholding threshold for being categorised as a promoter group from 20% to 10%. Promoters are subject to higher regulatory scrutiny than public shareholders. Another strong year for IPOs? The new rules will likely encourage more companies to go public and tap capital markets for funds. In terms of IPOs, India had a solid 2017, with 38 offerings raising over ₹750 billion - nearly a threefold jump from 2016. However, the IPO market has been muted so far in 2018 in terms of deal value amid a deterioration in India’s macroeconomic fundamentals. While there have been 17 IPOs, they have only raised ₹221 billion. Ernst and Young, a consultancy, forecasts that the amount raised for the year will total around <a href="https://www.moneycontrol.com/news/business/ipo/ipos-to-raise-rs-35000-cr-in-2018-report-2614041.html">₹350 billion,</a> but the new rules could prove to be the boost the IPO market needs.

India’s market regulator has made the IPO process easier for companies

New Delhi, Jan 23 () Corporate Social Responsibility (CSR) spending by companies listed on NSE increased 18 per cent to Rs 11,961 crore in 2018-19, as per a report. 
 During 2017-18, the firms listed on NSE had spent Rs 10,179 crore.
 "CSR expenditure by companies listed at NSE has grown at a healthy compounded annual growth rate of 17 per cent over the last 5 years," a report by nseinfobase.com, a joint venture between NSE and PRIME Database, said.
 Reliance Industries, ONGC, Indian Oil Corporation, HDFC Bank, Tata Consultancy Services, Infosys, Tata Steel, ITC, NTPC and Power Grid Corporation of India are the top 10 companies which spent the most on CSR during financial year 2018-19, the report said.
 "The top 10 companies together spent 36 per cent of the total spend on CSR," the report said.
 Besides, there were 488 companies which exceeded their prescribed spending and 37 companies spent on CSR despite reporting a loss.
 "PSU spending saw an increase of 4 per cent from previous year. 57 PSUs spent Rs 3,198 crore in 2018-19, up from Rs 2,710 crore spent by 54 PSUs in 2017-18," the report stated.
 As on March 31, 2019, 1,786 companies were listed on NSE. However, the analysis is based on 1,132 companies listed on NSE as on March 31, 2019 and obligated to spend on CSR and for which CSR details were available in their annual reports.
 Of the total funds spent on CSR, maximum spending was on education and vocation skills at over Rs 4,440 crore.
 Among other areas, hunger, poverty and healthcare witnessed a spending of Rs 3,242 crore, rural development Rs 1,322 crore and environmental sustainability nearly Rs 1,020 crore, the report found. 
 Areas such as armed force veterans, technology incubators, slum development and disaster management saw negligible spends. 
 Giving a state-wise overview, the report said that top 10 states which received maximum CSR funds were Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, Odisha, Delhi, Andhra Pradesh, West Bengal and Telangana.
 The top 10 states accounted for 47 per cent of the total CSR expenditure.
 According to Pranav Haldea, managing director of PRIME Database Group, "not all areas of the country are benefitting equally. Since the Act decrees that companies shall give preference to the local area, the more industrialised parts of the country are cornering a larger share."
 Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards CSR activities. SRS 
RVK

You Searched For "haldea" and got 7 results

Too early to say primary market is seeing a revival

Katya

Eetika

IndiGo’s IPO is a hit even as it gets first time investors in to the Indian IPO market!

BI India Bureau

State-run PSUs don’t want women directors on board, despite SEBI’s mandatory rule

BI India Bureau

Tata Motors Seeks Shareholders' Nod For Rs 7500-crore Rights Issue

BI India Bureau

Fund raising via IPOs plunge 60% in 2019 as economy sputters

PTI

India’s market regulator has made the IPO process easier for companies

Dilsher Dhillon

CSR expenditure by cos listed on NSE up 18 pc to Rs 11,961 cr: Report

PTI

Popular Keywords

Buying Guides