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India Business News: Kumar Mangalam Birla plans to launch an IPO of Novelis, his aluminium company, in the US market. It will be the first Indian conglomerate to sell comm ....
The Securities and Exchange Board of India (Sebi) is exploring the option of allowing companies to delist by announcing a fixed price for shares to be bought back in place of the existing reverse book building process, chairperson Madhabi Puri Buch said on Monday. ....
The regulator is also working on instantaneous settlement of stock market transactions and reviewing the trading plan mechanism for insiders at listed firms. Sebi will issue a discussion paper on the delisting process before December. ....
(This story originally appeared in on Jul 12, 2021)MUMBAI: The valuation of food delivery major Zomato that’s going public through an IPO with an indicative market capitalization of around Rs 60,000 crore, has been a topic of much discussion on social media with many raising an eyebrow if it’s really worth that much. People have mixed views. For some a tech-enabled company should be valued differently to a traditional company despite its losses. For some the IPO is a harvest opportunity for venture capital & private equity investors to offload their liability to retail investors, while some believe Indian food tech companies will reflect valuations earned by its global peers like DoorDash to a significant investor extent. ....
Representative image MUMBAI: Value of pledged promoter holdings fell to its lowest in recent quarters as controlling investors released shares offered as collateral after repaying loans taken by them. Promoters of Adani Ports, Asian Paints, Tata Motors, Tata Steel, TCS, JSW Steel and Sun Pharma reduced their pledged stakes in the companies on the back of aggressive deleveraging efforts. The combined value of pledged holdings in BSE 500 stocks declined to 1.6% (Rs 1.6 lakh crore) in the March quarter of fiscal 2021 the lowest in the last nine quarters from about 2.1% in the preceding quarter, according to a Kotak Securities report. The report highlighted that there were no listed companies where controlling shareholders pledged more than 90% of their stakes. In some companies like Dhanuka Agritech, promoters released their entire pledged holdings. ....