Amazon has been testing the waters with stakes in smaller offline companies, including Shoppers Stop Ltd and Aditya Birla Group’s food and grocery retail chain, More.
IPOs of ICICI Securities Ltd and Hindustan Aeronautics Ltd (HAL) failed to get enough bids to meet their targeted issue size.
IPOs worth Rs82,500 crore are expected to be completed in FY18, double the previous record in FY08.
But a close look at the break-up of the aggregate IPOs in 2017 shows the scenario isn’t all that encouraging. That’s because fresh capital is only 17% of the total money raised whereas the remaining 83% is contributed through the offer for sale mechanism.
The government is moving ahead with its proposal to create an integrated public sector ‘oil major’ but in the process, is also filling its own coffers. It is, however, denying minority shareholders that opportunity. A merger of Hindustan Petroleum Corp. Ltd (HPCL) with Oil and Natural Gas Corp. Ltd (ONGC)… Read more »
Consolidation is the name of the game for the telecom sector now.
The government is considering inducting banks as strategic investors in Air India Ltd.
Next in line of the 10 companies that received approval to set up SFBs is Ujjivan Financial Services Ltd, set to debut on the bourses this Thursday. After Equitas’ stellar listing, will Ujjivan too follow suit?
Kitchen appliances maker TTK Prestige Ltd announced on Tuesday it had acquired UK-based Horwood Homewares Ltd. The company hasn’t disclosed the deal consideration, but that didn’t stop investors from driving up the TTK Prestige stock by about 4% on Tuesday. Analysts maintain that the company has been looking for acquisitions… Read more »
Equitas Holdings Ltd will be the first so-called small finance bank (SFB) to hit the public markets.