India got $100 million worth of foreign inflows into stocks so far in October, among the highest in Asia. Moreover, in the fourth quarter, Paytm and Flipkart are aiming for an IPO.
Paytm, backed by SoftBank, Berkshire Hathaway and Jack Ma’s Ant Group, plans to raise as much as Rs 166 billion from its share sale, according to its draft prospectus.
On 1 October, Paras Defence and Space Technologies made an unprecedented debut on bourses as its stock price rose 171% to list at Rs 475 on BSE, over its issue price of Rs 175 per share.
The New Delhi-based company is also looking to sell its stake in NTPC-SAIL Power Co., a joint venture with SAIL for supplying electricity to the steelmaker’s mills and townships.
Oyo, backed by SoftBank Group & Airbnb, plans to raise Rs 7,000 cr through sale of new shares. The rest will be secondary shares or those sold by existing stockholders.
The firm, which was founded in India & moved to Silicon Valley, boosted revenue about 40% last year after pandemic forced businesses to go digital. Its sales continue to grow in 2021.
The proposed initial public offer plan of the hospitality firm follows the success of Zomato's IPO that ended with bumper oversubscription on 16 July, the biggest since March 2020.
Bumper pool of fees has become all the more significant for bankers in an especially harrowing year, that saw sickness and death come much closer to home due to Covid pandemic.
India’s policymakers need to ensure that labourers, and milk and newspaper delivery workers, do not have to sacrifice food just to keep a roof over their heads.
In the latest budget, the FDI limit was increased to 100 percent, but most foreign companies are not buying such large stakes in the Indian insurance sector.
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