Wadia Group-owned low-cost carrier GoAir’s initial public offering (IPO) is likely to happen by the end of FY17-18, while the airline is expected to finalise the global co-coordinators in the next three months.
Although primary markets have witnessed initial public offerings(IPOs) worth more than `10,000 crore during CY16, the larger portion of money raised during the year has found its way to existing shareholders.
After two months of lull, activity in primary markets has started to pick up as five initial public offerings (IPOs) with a combined value of more than `5,000 crore are set to hit markets in the next one month.
Currently, a company needs 50% institutional ownership to launch an IPO. As per Sebi regulations, 50% of the pre-issue capital of a company must be held by qualified institutional buyers to qualify for fund-raising via IPO.
The book running lead managers (BRLMs) of Electrosteel Steels' (ECL) initial share sale are planning to challenge the orders passed by markets regulator Sebi in the Securities Appellate Tribunal (SAT).
Legal experts have raised concerns about the Sebi’s disclosure norms. Although the circular says the additional disclosures are to increase transparency, it does not specify the issue that is being addressed, a lawyer said
With a few banks having raised eligibility criteria for stockbrokers transacting with them, a fairly large number of brokers is likely to be hit. The new conditions laid down require a brokerage needs to have a minimum net wo