Capital Market

Sebi rectifies penalty on Samir Jain, wife and others in PNB Finance case

Sebi found connected entities holding 91.51 per cent and 94.45 per cent in PNBFIL and CCCL, respectively

IREDA, WAPCOS to hit capital markets next fiscal: DIPAM Secy Tuhin Pandey

The government is targeting to launch the initial public offering (IPO) of clean energy lender IREDA and state-owned engineering consultancy firm WAPCOS in the next fiscal, DIPAM Secretary Tuhin Kanta Pandey said. The proceeds from the stake sales would form part of the Budgeted disinvestment kitty of Rs 51,000 crore for the next fiscal. "IREDA is lined up for Initial public offering (IPO) next fiscal. DRHP for WAPCOS has already been filed," Pandey told PTI. The Department of Investment and Public Asset Management (DIPAM) manages government equity holding in public sector companies. WAPCOS, an engineering consultancy and construction services firm under the Jal Shakti Ministry, had in September last year filed draft papers with market regulator Sebi for launching an IPO by selling 3.25 crore shares held by the government. The company's revenue from operations stood at Rs 2,798 crore, while net profit was Rs 69.16 crore in 2021-22. The IPO of the Indian Renewable Energy Developme

Indian firms raise Rs 5.06 trn via equity, debt during Apr-Nov 2022: Survey

Indian companies mobilised Rs 5.06 lakh crore through the equity and debt routes during April-November 2022, a drop of 8.5 per cent from the year-ago period, the Economic Survey 2022-23 said on Tuesday. Fund mobilisation through debt contributed a lion's share to the overall fund-raising during the period under review. Out of the cumulative Rs 5.06 lakh crore garnered in FY23 (till November 2022), funds totalling Rs 3.92 lakh crore were mopped up from the debt market and Rs 1.14 crore came in through the equity route, as per the data compiled in the survey. In comparison, firms had raised Rs 5.53 lakh crore, including Rs 3.71 lakh crore through debt and Rs 1.81 lakh crore through equity, which comprised Rs 89,166 crore from initial public offerings (IPOs), during April-November 2021. According to the survey, overall, India's capital market had a good year in FY23 though global macroeconomic and financial market developments exercised some influence. "Global macroeconomic uncertain

RBI proposal on loan loss provisions to raise bank capital needs: Analysts

The Indian central bank's discussion paper suggesting banks make provisions on bad loans using an expected credit loss (ECL) method could raise capital requirements for lenders, analysts said

Cyient DLM files preliminary papers worth Rs 740 cr with Sebi through IPO

Electronic Manufacturing Services (EMS) firm Cyient DLM Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an Initial Public Offering (IPO). The initial share-sale is purely a fresh issue of equity share with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP). The company may consider issuance of securities aggregating up to Rs 148 crore in a pre-IPO placement round. Funds raised through the IPO would be utilised for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions as well as for general corporate purposes. Cyient DLM, a subsidiary of Cyient, is the leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build and maintenance. It has three state manufacturing facilities in Hyderabad, Bengaluru and Mysore. The India EMS is a sizable industry, contributing to 2.2 pe

Sebi proposes regulatory framework for index providers, Rs 25 cr net worth

The regulator has floated a fresh consultation paper proposing provisions for eligibility, disclosures and audit

Bigbasket may launch IPO by 2025 after $200 million funding: CFO Parekh

Controlling about a third of India's online grocery market, Bigbasket was acquired by Tata last year

BS BFSI Insight Summit 2022: Fireside chat with SIDBI Chairman S Ramann

Ramann joined Sidbi in the midst of the second wave of Covid-19 pandemic, he has been involved in crafting policies for providing timely liquidity, and schemes for restructuring support to MSME sector

Sebi bars former MSEI MD&CEO for six months over multiple violations

Detects breach of clearing fee rules, issue of contracts without bidding process and vendor payments without supporting bills

Sebi asks IHH Healthcare to get Delhi HC nod for Fortis open offer

IHH indicated last week that it was ready to go ahead with the stalled open offer if the capital markets regulator allowed it

Near term margins may remain subdued for Astral, high valuation weighs

The company underperformed peers on the volume front in Q2, though margin impact was lower given value-added mix

Analysts positive on Bank Nifty, advise picking up stocks on dips

Bank Nifty index has been outperforming the benchmark Nifty. It has gained 4% in the past one month and 16% YTD. In comparison, Nifty is up less than 2% both on a one-month and YTD basis

Govt to approach capital market this month to raise funds for road projects

Union Minister Nitin Gadkari on Thursday said the government will approach the capital market this month to raise funds for road projects. Addressing an event here, he said toll revenue of the NHAI will soar to Rs 1.40 lakh crore per annum in next three years from Rs 40,000 crore per annum currently. "This month, I will be approaching the capital market to raise funds for road projects...Our toll income is very good and NHAI's rating is AAA...I am 100 per cent sure that we will get a good response from the capital market," the Road Transport and Highways minister said. Gadkari said the insurance funds, pension funds have shown interest to invest in India's road projects because there is economic viability. Last month, he had said the money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors. The minister had also said the government will soon list InvITs on stock exchanges so that retail investo

BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers

Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms

Sebi comes out with disclosure requirement for asset management companies

Capital markets regulator Sebi on Thursday came out with the disclosure framework for asset management companies, mandating a scheme-wise disclosure of investments in securities of entities that are excluded from the definition of "associate". This came after Sebi, earlier this month, amended mutual fund rules to remove the applicability of the definition of "associate" to sponsors that invest in various companies on behalf of the beneficiaries of insurance policies or such other schemes. Under the rules, associate includes a person who directly or indirectly, by himself, or in combination with relatives, exercises control over the AMC or the trustee, among others. As part of the new framework, asset management companies (AMCs) will have to make scheme-wise disclosure of investments, as on the last day of each quarter, in securities of such entities that are excluded from the definition of "associate", the Securities and Exchange Board of India (Sebi) said in a circular. Further, .

Top headlines: SpiceJet scouting for funds; markets may fund road projects

Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects

Facebook co-founder Eduardo Saverin's B Capital closes $250 mn fund

Ascent Fund II is B Capital's first dedicated early-stage fund. It invests in pre-seed through series A rounds globally, with an emphasis on the US and Asia, including India

SBI, Canara, Bank of Baroda plan to raise Rs 7,500 crore through AT-1 bonds

IOB also likely to tap debt capital market, say sources, though quantum of fund-raising being planned isn't clear

PMI: India's services activity touches an eleven-year high of 59.2 in June

The jump in the services PMI corroborates the view that the services sector will lead the growth recovery in FY2023, says Aditi Nayar of Icra

ICICI Bank, Gift City to pitch Gift SEZ to Indian, global businesses

GIFT SEZ is the country's first International Financial Services Centre (IFSC) which is being developed as a global financial services hub