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Listing of <keyword id="6365973" type="COMPANY" weightage="20" keywordseo="life-insurance-corporation">Life Insurance Corporation</keyword> (LIC) and sale of government's stake in IDBI Bank may be delayed beyond March 2021, due to depressed valuation amid COVID-19 pandemic. The government aims to garner Rs 90,000 crore from the listing of LIC and stake dilution in IDBI Bank out of total the disinvestment target of Rs 2.10 lakh crore during the current fiscal. Finance Minister Nirmala Sitharaman while presenting the Budget 2020-21 had announced stake sale in LIC through an initial public offer in the current financial year. <div type="Youtube" id="WYbWln2KsuA" title="Budget 2020: LIC to get Privatised" thumbUrl="https://i.ytimg.com/vi/WYbWln2KsuA/mqdefault.jpg"></div> Given the prevailing market situation, it seems to be difficult to do the LIC stake sale in the current fiscal as the situation is not conducive, sources said. Besides, they said, there will not be a matching appetite for the mega issue of LIC in the present market condition. Due to COVID situation, the government recently for the second time extended the deadline for bidding for privatisation of India's second-biggest oil marketing company Bharat Petroleum Corp Ltd (BPCL) by over a month to July 31. The government currently owns 100 per cent in LIC, while it holds around a 46.5 per cent stake in IDBI Bank. The sources said, the government will have to cut down its expected realisation from stake dilution of both LIC and IDBI Bank even if the market condition improves. So, selling them at low valuation would be an imprudent decision, they added. Besides valuation, the sources said, listing of LIC involves a lot of regulatory clearances and more importantly amendment to the LIC Act itself. Market participants had already termed the listing of insurance behemoth LIC as IPO of the decade akin to the Saudi Aramco listing. The 60-year-old state-owned firm, LIC is the country's largest insurer, controlling more than 70 per cent of the market share. The insurer has a market share of 76.28 per cent in number of policies and 71 per cent in first-year premiums. LIC has many subsidiaries, including IDBI Bank. Turning the corner, IDBI Bank on Saturday posted a profit of Rs 135 crore for the March quarter on account of recoveries from bad loans. The lender reported a profit after 13 straight quarters of net losses. The bank had posted a net loss of Rs 4,918 crore in the corresponding period of last year. In January 2019, LIC completed acquisition of 51 per cent controlling stake in the lender. The state-owned life insurer infused Rs 21,624 crore into the bank. The bank, which is under the Reserve Bank of India's prompt corrective action (PCA) framework, said it has achieved all PCA parameters for exit except return on asset. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/india-moves-to-unlock-value-from-insurance-behemoth-lic-whose-corpus-is-at-31-lakh-crore/articleshow/73836245.cms">The biggest IPO of the next financial year ⁠— LIC, whose corpus is at ₹31 lakh crore</a> <a href="https://www.businessinsider.in/business/news/nirmala-sitharaman-says-the-lic-ipo-will-benefit-retail-investors/articleshow/74008705.cms">Nirmala Sitharaman says the LIC IPO will benefit retail investors</a> <a href="https://www.businessinsider.in/business/news/govt-to-retain-management-control-in-lic-after-listing-sitharaman/articleshow/74459403.cms">Govt to retain management control in LIC after listing: Sitharaman</a>

India's largest-ever IPO may be shelved until next year

<ul><li>At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a stronger note on Wednesday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/dow-jumps-338-points-as-mitch-mcconnell-pledges-to-get-stimulus-deal-done/articleshow/79749308.cms">US stocks extended earlier gains</a> on Tuesday after Senate Majority Leader Mitch McConnell pledged to get a fiscal stimulus deal done before Congress takes a break for the holidays. The Dow Jones Industrial Average closed 337 points higher, and the S&amp;P 500 was up 1.29%. These are the stocks to watch out for during the trading session today: IDBI Bank IDBI Bank has set the floor price at ₹40.63 per share for its proposed qualified institutional placement (QIP) and downsized the fundraise by two-thirds to ₹2,000 crore. The bank’s board at its meeting on October 29 had proposed to raise ₹6,000 crore by issuing shares through QIP. Punjab National Bank Punjab National Bank (PNB) has set the floor price for its proposed QIP of ₹7,000 crore at ₹37.35 per share. PNB committee would meet on Friday to consider and determine the issue price for the equity shares, including a discount, if any, to be allotted to Qualified Institutional Buyers, pursuant to the QIP (qualified institutional placement). Indian Bank The state-owned Indian Bank declared the account of IL&amp;FS Financial Services (IFIN) as fraud with outstanding dues of ₹408 crore, and reported it to the Reserve Bank of India (RBI). Axis Bank Axis Bank has clarified that it has complied with its underwriting practices and approval processes for any exposure taken in relation to SREI Equipment Finance and SREI Infra Finance. SREI Group’s outstanding dues to the bank stand at ₹800 crore. Embassy Office Parks REIT Embassy Office Parks REIT plans to raise $500 million (around ₹3,700 crore) through the sale of units to institutional investors through QIP to fund its acquisition of commercial asset Embassy TechVillage in Bengaluru. Mahindra &amp; Mahindra (M&amp;M) Mahindra &amp; Mahindra (M&amp;M) said it would increase the price of its passenger and commercial vehicles, across models from January 1. PVR PVR to consider fundraising via various methods at its board meeting on December 18. Mrs Bectors Food Specialities Mrs Bectors Food Specialities IPO sees an overall subscription of 3.72 times on the first day of bidding. JSPL Jindal Steel and Power Ltd (JSPL) has appointed Hemant Kumar as the Chief Financial Officer (CFO) and key managerial personnel from Tuesday. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/thelife/personalities/news/facebook-ceo-mark-zuckerberg-and-reliance-industries-mukesh-ambani-spoke-but-had-no-chemistry/articleshow/79739547.cms" data-type="tilCustomLink">Zuckerberg spoke to Ambani but there was no chemistry — even with a multi-million dollar partnership between them</a>

Top stocks to watch — IDBI Bank, PNB, Axis Bank, M&M, Embassy REIT, PVR, and others

Mumbai, Feb 7 () Life Insurance Corporation is keen to unlock value in IDBI Bank in the run up to the insurance behemoth's IPO, which is likely to happen in FY21, its Chairman M R Kumar said on Friday. Presenting the Budget, Finance Minister Nirmala Sithraman had said the government would sell a part of its 100 percent holding in LIC through an IPO in the next fiscal year. Later, Finance Secretary Rajiv Kumar said the government could divest up to 10 per cent in LIC, which has an enterprise value of Rs 36 lakh crore. The government aims to garner Rs 90,000 crore from the listing of LIC and stake dilution in IDBI Bank in the next fiscal out of the total disinvestment target of Rs 2.10 lakh crore. In January 2019, LIC picked up 51 per cent stake in IDBI Bank, making it the majority shareholder of the lender. The Irdai regulations bar an insurance company from holding more than 15 per cent in any listed entity. However, Irdai has given some exemption to LIC in regard to its holding in IDBI Bank. LIC Chairman Kumar said though Irdai has not fixed any timeline for LIC to reduce its stake in IDBI Bank, the Reserve Bank has given a 12-year timeframe. "We would not want to wait that long, especially when we are also going to be listed, but we have to find some ways to unlock value in IDBI Bank," Kumar told reporters here on Friday. He said once the bank comes out of the lending restrictions imposed by the RBI under the Prompt Corrective Action (PCA) framework and becomes profitable, the bank would be able to attract investors. "Once they come out of the PCA and start lending again, I believe that their profitability will go up substantially and also attract investors," he said. IDBI Bank, which is under PCA framework since May 2017, had met RBI in January to seek lifting of the operational restrictions, had earlier reported. The lender had made a presentation to the RBI on its improved financial position. The government holds 47.11 per cent stake in IDBI Bank, while 51 percent is with LIC. This leaves practically nothing for investors, as its floating shares are only 3 per cent of the paid-up equity. Sitharaman had said the government would want to tap the retail investor segment to sell its stake completely. Kumar said the stake sale by the government in IDBI Bank will help bring in more retail investors. "Once the stake sale happens, people will show more interest in the scrip, because as of now with 51 per cent with us and over 47 (per cent) with the government, there is hardly any free float to give value to shareholders," Kumar said. When asked about the IPO's timing, Kumar refused to give any timeline. "Yes, the finance secretary was on record saying listing will happen in the H2 of FY21. We have to work it out. I don't know how long it takes for the very simple reason that we are doing for the first time," he said. Finance Secretary Rajiv Kumar had on Sunday said the LIC IPO may be done in the second half of FY21. The LIC chairman said the listing would need some legislative changes in the LIC Act. "Basic amendment to the LIC Act would be required," he said. Explaining further, the corporation's appointed actuary Dinesh Pant said, "LIC (Act) has got a Section 24 where the entire fund of the corporation is a controlled fund which is under one fund. So how will be now be bifurcated. There is Section 28 about dividend distribution and so all those things have to be taken care of." He also said it needs to be seen how Section 37,which talks about the sovereign guarantee, is amended. Spelling out the priorities in the run up to listing, he said the focus would be on creating right perception in the market and to work on the process of valuation. He also said the policyholders and employees will not have any impact due to the listing. Earlier this week, nearly 1 lakh employees of the corporation staged an hour-long walkout against the IPO plans. HV BEN ABMABM

Looking to unlock value in IDBI Bank: LIC chief

<ul><li>The 30-share BSE index was trading 0.80% lower; while the Nifty50 fell 97.10 points at 9:50 am. </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex tumbled over 300 points on Tuesday, led by losses in index-heavyweights Reliance Industries and Maruti, amidst negative cues from global markets and foreign fund outflows. The 30-share BSE index was trading 0.80% lower; while the Nifty50 fell 97.10 points at 9:50 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ZEE Entertainment </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td></tr></tbody></table>*as of September 22, 10:00 am GMM Pfaudler shares locked in 10% lower circuit GMM Pfaudler shares were locked in a 10% lower circuit after the promoters of the company would sell 25.71 lakh shares via offer for sale. The company has set the floor price at ₹3,500 per share, which is at a discount of 33% as of yesterday’s closing price. HSIL shares trade 5% higher The shares of HSIL Limited were trading 5% higher after the company’s board approved the proposal for buyback of fully paid-up equity shares of up to ₹70 crore worth of shares at ₹105 per share at a meeting held yesterday. SBI shares down 2% SBI shares lost 2% during the early trade hours. The country’s largest lender SBI on Monday raised ₹7,000 crores by issuing<a href="https://economictimes.indiatimes.com/markets/bonds/sbi-raises-rs-7000-cr-via-basel-iii-compliant-bonds/articleshow/78237814.cms"> Basel III compliant bonds</a>. IDBI Bank shares down 4% The shares of IDBI Bank were trading 4% lower after the bank <a href="https://www.business-standard.com/article/finance/idbi-bank-to-raise-rs-11-000-cr-through-qip-six-merchant-bankers-appointed-120092100988_1.html">appointed six investment banks</a> to raise up to ₹11,000 crore, the qualified institutional placement (QIP) in November. Indian Oil Corp shares down 3% Indian Oil Corp shares lost nearly 3% after the company said it would invest ₹17,825 crore in implementing Petrochemical and Lube Integration at its Gujarat Refinery. HDFC Bank shares nearly a percent The shares of HDFC Bank was up nearly a percent in an otherwise volatile market after the bank denied the allegations of misleading claims levelled by a US-based law firm to seek damages in a class-action suit. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/angel-broking-600-crore-ipo-opens-today-heres-what-works-for-it-and-what-doesnt/articleshow/78248335.cms" data-type="tilCustomLink">Angel Broking ₹600 crore IPO opens today: Here’s what works for it and what doesn’t</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-state-bank-of-india-gmm-pfaudler-hsil-route-mobile-muthoot-finance-manappuram-finance-cams-chemcon-and-others/articleshow/78246831.cms" data-type="tilCustomLink">Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others</a>

Top stock movers — GMM Pfaudler, SBI, RIL, HDFC Bank, IOC, IDBI and more

<ul><li>Today is the second day to subscribe to footwear retailer Metro Brands, which will close its IPO on December 14.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore, which consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters.</li><li>Shares of the company are demanding a premium of ₹25 in the grey market while the price band is at ₹485 to ₹500.</li></ul>Today, December 13, is the second day to subscribe to marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India. The initial public offering (IPO) has been subscribed just 27% on the first day of the bidding process. Meanwhile, the grey market premium of the company’s shares has been falling since the last couple of days from ₹80 to now at ₹25 per share. The company was performing well <a href="https://www.businessinsider.in/business/corporates/news/metro-brands-that-is-open-for-ipo-is-aggressively-planning-on-opening-new-stores-despite-covid-19s-impact-on-its-profits/articleshow/88204220.cms">until COVID-19 </a>hit the entire footwear retailing segment because of the pandemic led restrictions across the country. Its profitability slipped in FY21 because of the pandemic. However, most analysts suggest subscribing to the issue because of the growth opportunities in the footwear segment along with the company’s strong financial track record. <div type="image" title="metro cagr" height="900" width="1200" msid="88253021" hostid="261"></div> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody><tbody></tbody></table> Analysts at Hem Securities recommend subscribing to the issue because of the experienced management team at Metro Brands and its strong track record of growth, profitability and financial discipline. Metro Brands operate 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Categories and players in India’s footwear industry <div type="image" title="ventura peer pyramid" height="900" width="1200" msid="88253050" hostid="261"></div> “Due to [the] pandemic, the industry has opened up much more growth opportunities like transition from large unorganised segments to organised players, many acquisition prospects, e-commerce expansion etc. We expect Metro Brands to continue the growth momentum, given above set-up in addition to tying up with third party brands like FitFlops. We recommend “Subscribe for long term,” said analysts at Nirmal Bang Securities. A report by Choice Broking firm says that Metro Brands is one of the largest footwear retailers with around 3-4% market share in the organised market space. “It has reported strong financial performance with robust cash flow generation. The company is [sic] consistently paying dividend [sic] since FY2000. Thus considering the above observations, we assign a “Subscribe for long Term” rating for the issue,” said the report. <div type="image" title="metro ope marging" height="900" width="1200" msid="88253088" hostid="261"></div> Analysts at Angel One believe that the company is demanding an expensive valuation. “The company’s historical net profit growth is low compared to its peer Relaxo Footwears. However, Metro Brands has asset light business, strong brands and wide range of products but we believe that these positives are captured in the valuations commanded by the company. Thus, we have a NEUTRAL rating on the issue,” said the brokerage firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomato-backed-grofers-rebrands-to-blinkit-as-focus-shifts-to-10-minutes-delivery/articleshow/88251384.cms">Grofers puts on a new name, Blinkit, to show how the focus of its business is changing</a>

The grey market is losing interest in Metro Brands’ IPO, but the analysts are still gung ho ⁠— here’s what the data have to say

The mega IPO of Life Insurance Corporation of India (<keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword>) will be out by the end of the current fiscal, a senior Central government official said on Monday. According to Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), the IPO plan is on course. "Some media speculation doubting the feasibility of <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> this fiscal year is not correct. It is reiterated that plan is on course for the IPO in the last quarter of this fiscal," the Secretary tweeted. The IPO is expected to become the biggest one in India and it may fetch the government around Rs 1 lakh crore. Post the Union Budget FY22, the government has taken several legislative and executive steps to pave way for the mega IPO. The LIC, a statutory Corporation constituted under the LIC Act 1956, is a leading life insurer of India wholly owned by the government. It has three branches outside India - in the UK, Fiji and Mauritius, a wholly-owned subsidiary in Singapore and Joint Ventures in Bahrain, Kenya, Sri Lanka, Nepal, Saudi Arabia, and Bangladesh. Its subsidiaries in India include LIC Pension Fund Ltd, and LIC Cards Services Ltd. Its associates include the IDBI Bank Ltd, the LIC Mutual Fund and the LIC Housing Finance Ltd. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/these-9-stocks-are-down-as-much-as-15-since-being-the-top-diwali-picks-6-weeks-ago/articleshow/88387967.cms">From ICICI Bank to INOX, these 9 stocks are down as much as 15% since being the top Diwali picks 6 weeks ago</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-do-rising-covid-19-cases-lead-to-a-fall-in-markets/articleshow/88385905.cms">Why is the stock market falling so sharply today?</a>

LIC IPO to be launched between Jan-Mar 2022

<ul><li>With three months left until the end of the current financial year, the government has so far met only 5% of its <keyword id="787167" type="General" weightage="20" keywordseo="divestment-target" source="Orion">divestment target</keyword>.</li><li>Till now, it has raised ₹9,329 crore out of ₹1.75 lakh crore divestment target of FY22.</li><li><keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> is expected to fetch somewhere between ₹75,000 crore to ₹1.50 lakh crore to the government depending on how much stake it decides to sell.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>The union government might miss the divestment target for financial year 2022, which will be the third consecutive year where it fails to meet its ambitious numbers. Every year, the government sets a target amount it hopes to earn by selling stake in public sector enterprises, receiving dividends from owned companies, amount realised from exchange traded funds and so on. So far the government has only met merely 5% of its divestment target of ₹1.75 lakh crore and is short of ₹1.65 lakh crore more. The government has huge hopes of meeting its huge disinvestment target from the LIC IPO where it is reportedly expected to sell 5-10% of its stake. However, even after selling stake in the IPO, it would still not meet its divestment target, here’s how. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">How much will govt get from LIC IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds govt would receive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Short of divestment target by… </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">If it sells 5% stake </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹75,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90,671 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">If it sells 10% stake </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.50 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,671 crore </td></tr></tbody></table><a href="https://economictimes.indiatimes.com/markets/ipos/fpos/lic-ipo-could-make-the-psu-indias-second-largest-company-after-reliance/articleshow/88850447.cms">Reportedly</a>, the government is pushing for a valuation of ₹15 lakh crore for the state-owned insurer that will soon file for the country’s biggest IPO before March 2022. So far the divestment proceeds of ₹9,329 crore came from the offer-for-sale of NMDC and the sale of some government-owned shares in Axis Bank. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Government divestment so far from trimming stake in below companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Approximately ₹9,329 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank through Sutti </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,994 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NMDC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,654 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hudco </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹726 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹742 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹219 crore </td></tr></tbody></table>In FY21, the government met 16% of its ambitious divestment target of ₹2.10 lakh crore due to unexpected pandemic that hit the country In the last 10 years, only twice has the government been able to meet and even exceed its divestment target. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divestment target </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of target met </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY11 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹40,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY13 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY14 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹54,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">54% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY15 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹58,425 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65^ </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY16 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹69,500 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY17 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹56,500 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹72,500 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">138% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹80,000 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">118% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1.05 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.10 lakh crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr></tbody></table>In the February 2021 budget, Finance Minister Nirmala Sitharaman said the government would sell stake in Shipping Corp of India, Air India, Neelachal Ispat Nigam Ltd, Container Corp of India, IDBI Bank, BEML Ltd and Pawan Hans, among others. Adding to it, the government was to privatise two state owned banks and sell stake in one insurance firm. The government is yet to sell stake in these public sector companies, and they seem unlikely before March 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/tax-rates-and-rules-change-expected-from-budget-2022/articleshow/88899801.cms">Anomalies that need to be fixed in India’s startup regulations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-expectation-in-higher-standard-deduction-tax-slabs-and-covid-insurance/slidelist/88891751.cms">From higher standard deduction and change in tax slabs to clarity on Covid insurance, here’s what tax experts want from Budget 2022</a>

Even after the LIC IPO, Indian government may be well short of its divestment target ⁠— for a third year in a row

<ul><li>From jewellery maker, Kalyan Jewellers to an Indian Government’s “Miniratna” RailTel Corporation, a whole range of companies are looking to get listed on Indian stock exchanges this year. </li><li>According to Geojit Financial Services, as many as 80 companies have approached SEBI to tap the primary market. </li><li>These are likely IPO candidates that may list this year. </li></ul>The IPO market seems to be piping hot in 2020 compared to the same time last year. Despite the pandemic and the economic slowdown, <a href="https://www.chittorgarh.com/ipo/ipo_list.asp?a=mainline">IPOs worth ₹179.8 billion</a> have already hit the market in the past ten months compared to ₹126.87 billion worth IPO in 2019. And as many as 80 companies have approached SEBI in the current fiscal year to get the necessary approvals for IPOs, according to Geojit Financial Services. The recent IPO bonanza made a lot of money for investors. Jyoti Roy, equity strategist at Angel Broking believes that is because “the investors have been willing to invest in companies with good businesses and reasonable valuations.” <div type="image" title="IPO data" msid="78634632" hostid="261"></div> The IPO bonanza may not have ended yet. From jewellery maker, Kalyan Jewellers to an Indian Government’s “Miniratna” RailTel Corporation, a whole range of companies are looking to get listed on Indian stock exchanges this year. Let’s take a look at some of the upcoming IPOs scheduled this year: Equitas Small Finance Bank The Chennai-based microfinance lender, Equitas Small Finance Bank (SFB), is looking to raise ₹532 crore from the IPO. The initial public offering will open on October 20 and will remain open till October 22. The company has appointed JM Financial, Edelweiss Financial Services, and IIFL Securities as its book running lead managers to the issue. RailTel’s ₹700 crore initial public offering The state-owned RailTel Corporation has filed a Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an initial public offer of up to 8.66 crore equity shares. The company is likely to raise ₹700 crore through the IPO, a complete offer for sale by the Central government. It has appointed ICICI Securities, IDBI Capital, SBI Capital Markets as the book running lead managers to the issue. ESAF Small Finance Bank The Kerala-based ESAF Small Finance Bank had filed DRHP in January and subsequently got the approval from SEBI at the end of March. However, the bank delayed its initial public offering due to the volatile market conditions and said it would take a call on ₹976-crore initial public offering (IPO) after September. The ₹976-crore IPO of ESAF Small Finance Bank will comprise a fresh issue worth ₹800 crore and an offer for sale (OFS) aggregating up to ₹176.2 crore. Kalyan Jewellers Kerala based Jewellery maker, Kalyan Jewellers, is also expected to launch a ₹1,750 crore initial public offering (IPO) in <a href="http://www.marketsguruji.com/upcoming-ipos-in-india/">November</a>. The ₹1,750 crore IPO will be the largest in its sector. The issue will consist of a fresh fundraise of ₹1,000 crore and offer of sale by promoter TS Kalyanaraman and private equity firm Warburg Pincus of ₹750 crore. Burger King One of India'sIndia's fastest-growing food chains, Burger King, is also in line to raise as much as ₹1,000 crore by initial public offering. The firm aims to utilise the funds to double the number of restaurants by 2025, where it currently operates 216 in India, as per its DRHP. Burger King IPO is also likely to hit the market in November this year. Bajaj Energy The ₹5,450 crore IPO of Uttar Pradesh-based, one of the largest private-sector thermal generation companies, Bajaj Energy, is expected to hit the market by the end of this year. The IPO comprises fresh issuance of shares aggregating up to ₹5,150 crore and an offer for sale of scrips up to ₹300 crore by the promoter Bajaj Power Ventures, according to its DRHP. Some of the companies coming up with IPOs include MilkBasket, Lodha Developers, Anand Rathi Wealth Management, Barbeque Nation, NSE, Indian Railways Finance Corporation, among others. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mazagon-dock-shipbuilders-shares-list-at-49-premium-over-the-issue-price/articleshow/78613450.cms" data-type="tilCustomLink">Mazagon Dock Shipbuilders shares list at 49% premium over the issue price</a> <a href="https://www.businessinsider.in/stock-market/news/tepid-debut-for-uti-amcshares-list-at-12-discount-over-the-issue-price/articleshow/78613719.cms" data-type="tilCustomLink">Tepid debut for UTI AMC—shares list at 12% discount over the issue price</a>

IPOs have raked in nearly $180 billion so far in 2020 — Here’s a look at some other companies that may go public this year

Ahead of the Union Budget, <keyword id="34743" type="General" weightage="50" keywordseo="rohit-arora" source="Orion">Rohit Arora</keyword>, CEO and Co-Founder of Biz2X, has suggested the government needs to come out with a specialised <keyword id="18173" type="General" weightage="100" keywordseo="sme" source="Orion">SME</keyword> <keyword id="50691" type="General" weightage="80" keywordseo="digital" source="Orion">digital</keyword> bank to cater to the funding needs of small businesses. Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> will present the last full Budget before the 2024 general elections in the Lok Sabha on February 1, wherein she is expected to announce slew of measures to boost economic growth. <keyword id="176" type="General" weightage="80" keywordseo="arora" source="Orion">Arora</keyword> said that small and medium businesses perennially face credit shortage and it is time that the government should come out with a specialised bank to cater their requirements. "SME digital bank can provide a bouquet of services to MSMEs, such as business CASA accounts for transaction banking, invoice and payments processing, correspondent banking, SME credit and trade finance, and other business financial services," he said. Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customised online lending experience for their small and mid-size business customers. Further, Arora stressed that such a bank can also include a special portfolio of revenue-linked credit instruments that will address the credit needs of MSMEs and also help in diversifying SME credit vis-a-vis the present system of collateral-based financing, which restrains the very practicality of running a small business. Being completely digital, he said such banks can process quicker loan application and disbursals for SMEs, backed by advanced data analytics and technology-based decision making. "The current system of portfolio mapping and underwriting is an arduous and time consuming process, involving exhaustive documentations and required multiple visits to banks. Digital banking will quicken loan processing, lower risk and scale up faster, meeting the credit needs of small businesses," he said. He said many large sovereign funds, pension funds, multilateral agencies as well as large Indian private equity funds wants to invest in such an initiative, given its enormous economic potential. About 6.3 crore MSMEs (Micro, Small and Medium Enterprises) provide more than 11 crore jobs in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-plans-to-launch-at-least-five-ipos-between-2026-to-2028/slidelist/97248256.cms">Gautam Adani plans to launch at least five IPOs between 2026 to 2028</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/idbi-bank-posts-60-growth-in-profit-in-third-quarter/articleshow/97251640.cms">IDBI Bank posts 60% growth in profit in third quarter</a>

SME digital bank can provide services like business CASA accounts to MSMEs: Biz2Credit co-founder

<ul><li>At 7:50 am the SGX Nifty was trading 0.82% lower pointing towards a weak start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to tread lower amidst negative cues from global peers. At 7:50 am the SGX Nifty was trading 0.82% lower pointing towards a cautious start for Nifty50. On Tuesday, the US stocks also plunged as investors continued to rotate out of the tech sector. The Dow Jones Industrial Average ended 2.25% lower. And, the S&amp;P 500 sank 2.7% towards the end of trading. Here’s a list of stocks to watch for in trade on September 9: Wipro The IT major Wipro yesterday announced its plans to set up a digital innovation hub at Dusseldorf in Germany. The company said that it would serve as its major’s flagship centre in Europe. The proposed Digital Innovation Hub will offer digital transformation expertise to companies in Germany, enabling organisations to cross skill and upskill besides supporting talent development in local communities, the company said in a statement. The shares of Wipro ended 1.2% higher yesterday. Astrazeneca The last-stage studies of Astrazeneca COVID-19 vaccine are on a temporary hold as the company is investigating if the patient who suffered serious side effects had anything to do with their vaccine trial shots. The shares of Astrazeneca ended 1% higher yesterday. Oil, paint and aviation stocks will be in focus Brent crude slips below $40 for the first time since June 30. This may come as good news for paint manufacturers and airlines industry. Taking this into account the shares of listed aviation giants like IndiGo, SpiceJet and paint manufacturers like Asian Paints, Berger Paints may react during the trade today. IDBI Bank IDBI Bank sold the remaining 1 million shares amounting to 0.21% stake in the National Stock Exchange of India. When LIC acquired 51% stake in IDBI Bank, the shareholding threshold in NSE was breached as both LIC and IDBI held stake in NSE before that. The shares of IDBI Bank ended 1.3% lower yesterday. TeamLease Services The Bengaluru based recruitment service provider TeamLease Services increased its stake from 40% to 76.37% in the edu-tech company Schoolguru. The shares of TeamLease Services ended 3% lower yesterday. Future Consumer Kishore Biyani owned Future Consumer reported ₹68.4 crore loss for the first quarter ended June 30. The overall revenue was down 63.7% to ₹380.5 crore. Enam Finance also sold 1 crore shares of the company at a floor price of ₹10.13 per share. This may also move other Future Group subsidiaries such as Future Lifestyle Fashions, Future Enterprises, Future Retail, among others. The shares of Future Consumer ended 3% lower yesterday. Reliance Industries RIL-owned Jio is looking to manufacture over 100 million low-cost smartphones on the Google platform. According to <a href="https://www.business-standard.com/article/current-affairs/top-headlines-jio-plans-to-roll-out-100-mn-phones-pubg-sheds-china-link-120090900150_1.html">reports</a>, the phones will be bundles with data packs and may launch in December next year. The shares of RIL ended 1% higher yesterday. Bharat Dynamics The ₹900 crore offer for sale of the government shares in Bharat Dynamics received an overwhelming response on day one and was subscribed 1.40 times by non- retail investors. The Union government is selling over 2.74 crore shares of the company at a floor price of ₹330 apiece. The shares of Bharat Dynamics ended 14% lower yesterday. Happiest Minds Tech IPO ends today Today is the last date to subscribe to Happiest Minds Tech ₹702 crore IPO. The IPO was 8.3 times subscribed at the end of Day 2. Route Mobile IPO opens today Route Mobile, a cloud communications service provider IPO, will be open for subscription today. The company is looking to raise ₹ crore through this IPO and has fixed the price band at ₹345-350 per share. Ahead of the IPO, the company has garnered ₹180 crore from 15 anchor investors. The list includes Goldman Sachs, Franklin Templeton Mutual Fund, Kuwait Investment Authority, Vantage Equity Fund, SBI Life Insurance, Axis Mutual Fund among others.

Top stocks to watch— RIL, Astrazeneca, Future Retail, Future Consumer, TeamLease, Spicejet, Asian Paints, Bharat Dynamics and more

<ul><li>The stocks of <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> from Tata Consultancy Services (TCS) to Mindtree are on fire as the rest of the market struggles against the uncertainty brought on by the second COVID-19 wave.</li><li>The rally comes ahead of these companies getting ready to post their earnings next week and the street expecting robust numbers.</li><li>Analysts believe that the deal momentum will carry IT companies through, not just the coming quarters, but the next two to three years.</li></ul>The second wave of COVID-19 may be bad news for many sectors of the Indian economy, but not for information technology (IT) companies like Tata Consultancy Services (TCS), Infosys, Wipro and Mindtree. The shares of Indian IT firms, big and small, have been rallying this past week in anticipation of blockbuster earnings, while the overall market remained volatile. Since April 1, <keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">Nifty</keyword> IT has risen by 3.27% and the past week alone has brought in gains of 1.3%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price on April 7 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MindTree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CoForge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.65% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.23% </td></tr></tbody></table>Source: NSE “The fourth quarter is traditionally a soft quarter for IT companies, but this time around the street’s expectations are very strong,” Sanjiv Hota, vice president and head of research at Sharekhan told Business Insider India. That being said, some players are doing better than others on the stock market. More than just the quarterly results, analysts believe that the inflow of demand due to the pandemic is also firming up the earnings of companies like TCS, HCL Technologies, Infosys and Wipro in the longer run. “A big shift that is happening. Earning visibility for the IT sector over the next two to three years is getting very strong,” Hota explained. <div type="image" title="IT stocks" msid="81961824" hostid="261" caption="&amp;lt;p&amp;gt;The rise of Nifty IT since January&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Greenback’s strength is only a temporary factor" comment="subhead" text="Greenback’s strength is only a temporary factor">Greenback’s strength is only a temporary factor</cmsannotation> The depreciating rupee, which softened to a <a href="https://www.moneycontrol.com/news/business/markets/rupee-opens-lower-at-73-55-per-dollar-6737851.html">two-week low</a> on April 7 after the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) announced that India’s monetary policy will continue to support liquidity, is only a temporary movement. “Depreciating rupee is always good for IT companies. In the last three quarters, offshore proportion has increased,” said Urmil Shah, the vice president of institutional equities at IDBI Capital. Overall, IT stocks are more fundamental in nature. “The results are expected to be particularly good with the increase in demand and second wave of COVID-19,” Harit Shah, a senior research analyst at KRChoksey told Business Insider, explaining how the market closed in the red on Monday, April 5, but IT stocks were among the top gainers. The pandemic sped up demand from clients as more businesses looked to digital solutions to help employees work from home and keep in touch with their customers in a contact-less way. What started in the first quarter is going to come to fruition between January and March. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/osiris-exoplanet-was-formed-at-least-a-100-times-farther-away-from-its-sun-than-where-it-is-now-and-has-six-chemicals-in-its-atmosphere-to-prove-it/articleshow/81953394.cms">The first-ever exoplanet discovered was born at least a 100 times farther away from its Sun than where it is now — and has six chemicals in its atmosphere to prove it</a> <a href="https://www.businessinsider.in/stock-market/news/macrotech-developers-ipo-formerly-known-as-lodha-developers-faces-high-debt-and-covid-scare/articleshow/81948568.cms">Macrotech Developers’ IPO has low home loan interest rate playing in its favour — but high debt and COVID-19 pandemic cloud its prospects</a>

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