IPO dates: November 22-26, 2024IPO price: Rs 140-148IPO size: Upto Rs 650 croreImplied market cap: Upto Rs 2,598 croreLot size: 101 sharesFace value: Rs 10Retail portion: 35% Enviro Infra Engineers, an EPC contractor of water supply and waste water treatment projects, plans to raise upto Rs 650 crore from the primary market. Of this, Rs … Read more
Markets regulator Sebi on Monday directed Credit Rating Agencies (CRAs) to verify the issuer’s fund availability and ascertain the reasons for payment failure in cases where non-payment of debt arises due to factors beyond the issuer’s control. Also, CRAs have to ensure that the required payments are deposited into an escrow account on the due … Read more
NTPC Green Energy (NGEL), a wholly owned subsidiary of state-run NTPC focussing on renewable energy generation, plans to raise Rs 10,000 crore through fresh equity to partly prepay debt. NTPC’s stake will fall to 89% after the IPO from 100%. It operates at the sector best EBITDA margin level of around 90%. The IPO valuation … Read more
I am 72 year old and I stay in Delhi. Should I invest in thematic mutual funds? Like infra funds, defence funds. I see a lot of new fund offers (NFOs) being launched every week? Can you guide me? Name withheld on request. Response by Atul Shinghal, Founder & CEO, Scripbox A 72-year-old investor might be seeking regular … Read more
Foreign investors have infused over Rs 13,300 crore in Indian equities in the first two weeks of the month owing to a resilient domestic economy with promising growth prospects. Going ahead, concerns over changes in India-Mauritius tax treaty will weigh on Foreign Portfolio Investor (FPI) inflows in the near-term till clarity emerges on details of … Read more
Moody’s on Friday lowered its outlook on the U.S. credit rating to “negative” from “stable” citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden’s administration. The move follows a rating downgrade of the sovereign by another ratings agency, Fitch, this year, which came after … Read more
India needs major supply side reforms to check the wild swings in vegetable prices which put the inflation calculation in jeopardy, even as the world’s fifth largest economy is expected to regain momentum in the second quarter, offsetting the exports contraction on account of worldwide slump in demand, Reserve Bank of India said in its … Read more
Reserve Bank of India (RBI) will give banks enough time to comply with its expected credit loss (ECL) based approach for provisioning and is not planning to implement it anytime soon, senior officials from the central bank said. “We have received comments from stakeholders which are being evaluated. Some more work is to be done. … Read more
Acuite Ratings and Research on Monday maintained India’s FY23 gross domestic product (GDP) growth estimate at 7 per cent. The credit rating agency, however, projected the country’s economic growth trajectory in FY24 to slow down to 6 per cent. India would still be one of the highest growth economies in the world, it said. As … Read more
Chief Economic Adviser V Anantha Nageswaran on Saturday said that India is facing global shocks with a position of strength backed by far better household, corporate and financial sector balance sheets and its medium term growth outlook is good. “Overall, all things considered, including the risk of oil price, I do believe that the external … Read more