Buoyed by positive investor sentiment and listing gains, more companies have shown their appetite to raise funds through the primary market in FY24 compared to the previous year. About 76 companies accessed the public markets in FY24, raising nearly Rs 62,000 crore through mainboard IPOs. This is 19% higher than the Rs 52,116 crore mobilized … Read more
India’s IPO fundraising has dropped 26% in the first half of the current fiscal year, compared with the same period a year ago. About 31 companies raised Rs 26,300 in the primary market as against Rs 35,456 crore in the previous-year period, according to data from primedatabase.com. The shortfall was mainly on account of the … Read more
An eye-popping $17 billion wipeout in market value has made Life Insurance Corp of India one of the biggest wealth destroyers among Asia’s initial public offerings this year. Having plunged 29% since its May 17 debut, India’s biggest ever IPO now ranks second in terms of market capitalization loss since listing, according to data compiled … Read more
Mumbai: Insurance behemoth (LIC) is likely to see a modest stock market debut on Tuesday as uncertain investor sentiment could restrict the opening day gain that some of the previous listings have seen. In the unofficial grey market, the stock is trading around ₹19 below its issue price of ₹949 per share. Though the discount … Read more
New Delhi: Giving a cold shoulder to the mayhem in secondary markets, there is an ongoing fundraising fest in the primary markets, which recently got their mojo back. In just a fortnight, domestic equity markets would see half a dozen companies raising close to Rs 30,000 crore from the investors via their initial primary offerings … Read more
Mumbai: Investors haven’t had a pleasant experience in India with most jumbo initial public offerings. Super-sized issues such as () in 2021, General Insurance Corporation in 2017, in 2008 and in 2010 have lost money after listing. The slump in some of those denied investors the opportunity to recover even their subscription money. They’ll be … Read more
Mumbai: The government may have to lower its valuation expectations in the initial public offer (IPO) of Life Insurance Corp of India (LIC) that’s likely to be launched in about two weeks after a reduction in the overall size of the offer, said people with knowledge of the matter. The recent fall in the stock … Read more
New Delhi: The Union Cabinet is likely to consider on Saturday a proposal seeking changes in the foreign direct investment (FDI) policy to facilitate disinvestment of the country’s largest insurer LIC, sources said. The Department for Promotion of Industry and Internal Trade (DPIIT) has mooted the proposal after taking views from the finance ministry. “The … Read more
NEW DELHI: Life Insurance Corporation of India (LIC), India’s largest life insurer and also a major player in the stock market, said its policyholders’ fund had equity investments of Rs 9,78,493.81 crore as of September 30, representing 24.78 per cent of the total Rs 39,49,516.37 crore worth investments. It stood at Rs 4,61,649.67 crore or … Read more
New Delhi: The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday. In an interview with PTI, Tuhin Kanta Pandey, Secretary to the Department … Read more