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Sebi to ease compliance burden for passive funds

"By easing the compliance burden, Sebi aims to foster the growth of passive investments in the Indian mutual fund industry," Sebi whole-time member Ananta Barua said while speaking at the mutual fund summit organised by industry body Assocham in the national capital.
2023-05-27T08:43:47+05:30

​PPFAS Mutual Funds completes 10 years: Road ahead

​Parag Parikh Flexi Cap Fund completes 10 years of existence next week. The scheme was launched in May 2013. The scheme has offered 18.26% returns since inception.
2023-05-26T13:19:44+05:30

Most equity mutual funds offer double-digit returns in one year. What should be your strategy?

Market experts have been asking investors to tone down their expectations from equity investments. However, if you look at the performance chart, you will be pleasantly surprised that your equity funds offered double-digit returns in one year.
2023-05-26T11:53:31+05:30

Kotak Mutual Fund launches Kotak NIFTY 200 Momentum 30 Index Fund

The performance of the scheme will be benchmarked against the NIFTY 200 Momentum 30 Index (Total Return Index). The scheme will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.
2023-05-25T14:53:43+05:30

India on a better wicket compared to the global market: A Balasubramanian

​But my own belief is as interest rates start coming down the next year and supported by good growth coming in, probably we should see some kind of premium valuation starts coming in, which probably should see it coming in next year.
2023-05-25T11:39:04+05:30

Kotak Nifty PSU Bank ETF, Nippon India ETF Nifty PSU Bank BeES offer over 60% in a year

Kotak Nifty PSU Bank ETF and Nippon India ETF Nifty PSU Bank BeES offered 67.09% and 67.08% returns respectively in a year. NIFTY PSU BANK - TRI, the benchmark for these two schemes, offered 68.19% in the one-year horizon.
2023-05-25T11:04:32+05:30

Next three years are likely to be rewarding for debt fund investors: Pankaj Pathak of Quantum Mutual Fund

A Dynamic Bond Fund or any other debt fund which invests in long-term debt instruments is highly sensitive to interest rate movements. Thus, in a short period of time, returns could be highly volatile and can even be negative. However, over a longer time frame of over 2-3 years period, returns tend to normalise along with the interest rate cycles.
2023-05-25T10:25:01+05:30

Why you need silver in your investment portfolio

From an investment point of view, due to its lower correlation with equities and gold-like behaviour when it comes to robustness during times of economic turmoil, silver becomes a very compelling asset to be included in an investor portfolio.
2023-05-25T09:37:27+05:30

India's earnings proving much more resilient and robust versus other EMs: Manish Gunwani

I think a lot of it has to do to my mind with two or three things. One is your external account situation obviously has gone through a sea change because energy prices are down, service exports have done well. The dollar itself has weakened.
2023-05-24T12:14:35+05:30

‘Larger size does constrain in some ways, it is not as bad as some people fear,’ says Rajeev Thakkar

“The size of Parag Parikh Flexi Cap Fund has surely grown over the last decade. This has prompted some to wonder whether we should close for fresh investments. We are not considering this for now,” Thakkar said.
2023-05-24T11:39:20+05:30

NFO Watch: Eight new mutual fund offers open this week

Three index funds, two thematic funds, a fixed maturity plan, value fund, and an ELSS fund are open for subscription in the market. Should you invest in these new fund offers to maximize the returns from your mutual fund portfolio?
2023-05-24T10:12:59+05:30

HNIs embracing passive funds on under-performance of active funds

In addition to ETF, in the index funds too, HNIs have witnessed an AUM CAGR of 145 per cent over the past four years. Apart from HNIs, retail AUM in ETFs has posted a CAGR of 56 per cent over FY19-23 to Rs 9,700 crore in FY23.
2023-05-24T09:36:27+05:30

How to monitor performance of mutual fund schemes?

While past returns are an important parameter to consider performance, they must not be looked at in isolation. The data that a large cap fund returned 20% in the last one year does not indicate much. It must be compared with its benchmark and other schemes in the large cap space.
2023-05-24T08:34:56+05:30

How is Sebi asking AMCs to use Investor Education Fund? DP Singh explains

I am sure looking at all angles from this thing, from the investor point of view, from the industry point of view, from the intermediary point of view and more than anything else keeping in view the growth of the industry, I think the final whatever will come will be for the benefit of everybody.
2023-05-23T16:00:00+05:30

UTI Mutual Fund launches UTI S&P BSE Housing Index Fund

The performance of the scheme will be benchmarked against S&P BSE Housing TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.
2023-05-23T15:31:04+05:30

UTI Mutual Fund launches UTI Nifty50 Equal Weight Index Fund

The performance of the scheme will be benchmarked against NIFTY50 Equal Weight TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.
2023-05-23T15:24:47+05:30

Will your mutual funds be able to charge performance-linked fees?

Sebi wanted to cap the Total Expense Ratio charged by mutual funds as the total costs incurred by investors were way above the prescribed fee. The Sebi also proposed a performance-linked fee. Will it make a big difference to mutual fund investors?
2023-05-23T14:07:30+05:30

Additional liquidity can be positive for near-term banking liquidity, favourable for rates: Axis MF

The RBI announced withdrawal of Rs 2,000 notes this week and have given time to deposit the notes with banks up to 30 September 2023. Also, a withdrawal of Rs 20,000 per person per day of notes in exchange is allowed.
2023-05-23T09:53:39+05:30

Expect rate cut in next 1 year; 10-year bond yields to start rallying: Devang Shah, Axis MF

10-year bond yields are expected to start rallying due to inflation and weakening macroeconomic data. Rate cuts are expected to be built in over the next six months, and from RBI's perspective, around 50 bps of rate cuts are anticipated in the next year. Interest rates are expected to move lower, causing the addition of duration to all portfolios. Long bonds will perform well initially and short-term funds when rate cuts occur. Corporate bond spreads are attractive for the three- to five-year segment.
2023-05-23T09:22:21+05:30

HDFC Mutual Funds's NFO a high-risk bet on India's defence prowess

HDFC Defence Fund will follow a multi cap strategy and build a portfolio with a focus on growth and quality at reasonable valuations by investing across large-, mid- and small-cap stocks.
2023-05-23T08:24:38+05:30

86% mid cap funds fail to beat their benchmarks in 5 years

Around 11 mid cap schemes failed to beat their respective benchmarks in one, three, and five-year horizons. Tata Mid Cap Growth Fund, one of the oldest mid cap funds, underperformed its benchmark in all three horizons.
2023-05-22T13:17:17+05:30

Improving equity outlook brings Rs 3,712 crore into arbitrage funds in April

"Given the attractive spreads and higher interest in equities, arbitrage funds can deliver a 7% return. These returns are similar to liquid funds with better tax efficiency," said Viral Bhatt, founder of Money Mantra.
2023-05-22T09:41:02+05:30

HSBC Large Cap Fund: Fund review

We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
2023-05-22T06:30:00+05:30

India has fared far better than other major economies: Sailesh Raj Bhan, Nippon India Mutual Fund

" Some signs of improvements are now showing. Earnings should start improving from 6-7% to 12-15% in around 6-12 months."
2023-05-22T06:30:00+05:30

Do mutual funds offer compounding benefits?

The underlying business and economic processes feed growth back into the input, enhancing growth further. That’s the actual meaning of the term compounding when applied to investments and growth.
2023-05-22T06:30:00+05:30

Sebi's proposal on total expense ratio to curb mis-selling, bring in transparency

Considering the underperformance of most mutual fund schemes, the proposal to introduce performance-linked expense ratios along the lines of Portfolio Management Services (PMS) is a step in the right direction, Gopal Kavalireddi, Head of Research at FYERS, said.
2023-05-20T09:48:16+05:30

International funds offer 10% returns. Did you make money?

Out of 68 international schemes that are in the market, 30 schemes offered double-digit returns in this year till date. 24 schemes offered single-digit returns and 14 schemes gave negative returns.
2023-05-19T13:54:11+05:30

Sebi's move should help larger AMCs get larger share of investor-oriented direct business: Sunil Subramaniam

​So I think the impact on the listed players would be minimized to the extent that they will benefit from larger flows, I would say, because their costs would be much lower compared to a smaller AMC.
2023-05-19T11:04:11+05:30

What will be the impact of new SEBI proposals on AMCs? A Balasubramanian answers

​And not necessarily that every recommendation that is coming in would pass through or would get accepted or would get rejected. Therefore, one has to just see within this which are the one would actually be dropped.
2023-05-19T10:19:05+05:30

Sebi proposes big changes to mutual fund fees to bring down costs

The recommendations are aimed at bringing down mis-selling and reducing costs of investing in mutual funds.
2023-05-19T08:17:15+05:30

Stock indices slip for a 3rd session

Both indices had risen in early trades but gains fizzled out in the later part of the session. The Sensex ended at 61,431.74, down 128.90 points, or 0.21%, from Wednesday's close. The Nifty declined 51.80 points, or 0.28%, from the previous close to settle at 18,129.95.
2023-05-19T06:24:46+05:30

SBI Mutual Fund launches SBI S&P BSE Sensex Index Fund

The performance of the scheme will be benchmarked against S&P BSE Sensex TRI. The scheme will be managed by Raviprakash Sharma.
2023-05-18T12:44:12+05:30

‘Safe’ multi asset funds offered 11.73% in one year, over 20% in three years

Multi asset funds are mandated to invest in three asset classes - typically equities, debt, gold. As per Sebi norms, they should invest atleast 10% in three asset classes. Mutual fund advisors say the portfolio composition makes them relatively safe.
2023-05-18T12:01:22+05:30

ELSS may lose edge under new tax regime

As many individuals move to the new income tax regime, investment believe tax saving mutual funds might find fewer takers in the coming days. ELSS help investors to save taxes of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
2023-05-18T08:42:51+05:30

India is up for a good growth story: Jinesh Gopani

There are cycles in the market between so-called value and growth and quality. I think as you really see inflation coming off, the interest rate cycle coming to a pause, if not on the cutting side, I think that leads to a significant amount of momentum on the growth side of the macro economy and at the same time growth side of the market.
2023-05-18T08:11:00+05:30

Debt ceiling issue a concern beyond the US, local indices decline further

The Sensex ended at 61,560.64, down 371.83 points or 0.6% from the previous close. The Nifty declined 104.75 points or 0.57% to end at 18,181.75. Short covering in the later part of the day helped both the indices recoup some of their losses after falling nearly 1% earlier in the session.
2023-05-18T05:37:45+05:30

How to create a corpus of Rs 12 crore by investing in mutual funds?

If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-05-17T15:17:14+05:30

Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Value Fund

The scheme will be managed by Shiv Chanani. The scheme will be benchmarked against the Nifty 500 Index.
2023-05-17T12:37:56+05:30

10 ‘safer' equity funds to invest for five years

Equity mutual funds invest in stocks and the stock market can be extremely volatile and risky, especially in the short term. That’s why many investors never invest in equity mutual funds to build wealth or pocket better after-tax returns.
2023-05-17T11:26:54+05:30

HDFC Mutual Fund launches India's first defence fund

"In a multipolar world, defence expenditure globally is set to increase as countries enhance their defence capabilities. Self-reliance in defence led by strong R&D (Research and Development) focus and enhancement of manufacturing capabilities creates opportunity for Indian companies to serve domestic market as well as tap large export potential. This could offer a multi-decadal investment opportunity," said Abhishek Poddar - Fund Manager - Equity and Senior Equity Analyst, Dealing and Investments at HDFC AMC.
2023-05-17T09:40:50+05:30

How to build a mutual fund portfolio?

Investors can use mutual fund products to invest across a range of asset classes, be it equity, fixed income, precious metals, international funds and even real estate.
2023-05-17T08:34:49+05:30

Investors throng to Gold ETFs; invest Rs 124 cr in 'safe haven' asset class

"Over the past few months, we have witnessed gold prices rising. While gold prices rose, some investors would have chosen to book profits or take on risk on approach with a view that central banks would pause further rate hikes," Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said.
2023-05-16T17:23:07+05:30

Large cap mutual funds to invest for 7-10 years

If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-05-16T14:15:40+05:30

Silver mutual funds down 4% in one month. What should investors do?

After dazzling investors with impressive returns in the one year, these schemes that track the precious metal are down 4% in one month. Should investors be bothered about the recent weakness in the precious metal fund?
2023-05-16T11:28:41+05:30

NFO Watch: Two new mutual fund offers open this week

An ELSS fund and a thematic fund are currently open for subscription in the market. Should you invest in these NFOs to maximize the returns from your mutual fund portfolio?
2023-05-16T10:31:38+05:30

Notwithstanding growth risks, this fund house has gone significantly overweight on IT

We have generated more than 20% cumulative alpha over the last 2 years. Since the last 8 months, I have taken over the flexi fund which has started to see early signs of turnaround by being in the top quartile within 3 months.
2023-05-16T07:46:41+05:30

HNIs eye private credit for better returns

Market-linked debentures (MLDs) that were earlier taxed at 10% after a holding period of more than a year are now taxed at marginal tax rates. Even investments in debt mutual funds are now taxed at marginal tax rates without any indexation benefits, irrespective of the duration of the investments.
2023-05-16T06:32:34+05:30

Debt mutual funds attracts Rs 1.06 lakh crore in FY23; liquid funds account 60% inflow

"While March's outflow was a natural and expected year-end phenomenon. It is difficult to ascertain the reason behind this sudden turn in liquid fund inflows," Mayank Bhatnagar, Chief Operating Officer, FinEdge, said.
2023-05-15T15:36:05+05:30

Volatility not going to go away for next 12 to 18 months: S Naren

I think we are in the middle that is the challenge that you do not have a situation where I do not think we are in greed, if you have greed you will have huge local mutual fund inflow.
2023-05-15T11:56:48+05:30

These equity mutual funds offered over 15% in five, seven, 10 years

ETMutualFunds considered the daily rolling returns of 143 equity schemes that have completed 10 years of existence. These seven schemes were from large & mid cap, mid cap, and small cap categories.
2023-05-15T11:18:54+05:30
Krishca Strapping Solutions lists at 120% premium

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.
2023-05-27T07:54:08+05:30

SME IPO: Crayons Advertising subscribed 147 times, listing on June 2

Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.
2023-05-26T17:01:06+05:30

Happy Forgings plans up to Rs 1,200 crore IPO

Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.
2023-05-26T06:11:11+05:30

Ola Electric plans up to $1b IPO at $10b valuation

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment
2023-05-25T17:47:29+05:30

SME IPO: Infollion Research Services' public issue opens on May 29. Top 10 things to know

Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.
2023-05-25T16:13:04+05:30

Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak: Report

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.
2023-05-25T14:18:04+05:30

SME IPO tracker: Hemant Surgical Industries issue subscribed 2.45 times; Proventus Agrocom's offer subscribed 4% so far on Day 1

The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.
2023-05-24T17:52:22+05:30

SME IPO Tracker: Vasa Denticity gets muted response on Day 1; Auro Impex and Chemicals sees flat listing

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.
2023-05-23T19:02:27+05:30

Pune-based IT firm Vinsys completes pre-IPO round at Rs 200 cr valuation

Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.
2023-05-22T16:50:30+05:30

SME IPO: Crayons Advertising public offer fully subscribed within hours of opening on Day 1

Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.
2023-05-22T15:08:51+05:30

ECGC IPO likely to be pushed to next fiscal amid volatility

The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.
2023-05-21T08:16:08+05:30

DRHP filing for IREDA listing likely in 6 months

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.
2023-05-19T23:17:16+05:30

SME IPO: Hemant Surgical issue to open on May 24. 10 things to know about the offer

Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements
2023-05-19T15:05:38+05:30

Vasa Denticity SME IPO: 10 things to know about the public offer

Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'
2023-05-18T21:41:00+05:30

Nexus Select Trust REIT IPO listing likely on Friday. What to expect

Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.
2023-05-18T15:41:14+05:30

Crayons Advertising SME IPO: 10 things you must know before investing

Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.
2023-05-18T12:46:22+05:30

Manyavar promoters to launch OFS

The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.
2023-05-18T06:49:56+05:30

SME IPO: Remus Pharmaceuticals gets muted response on Day 1. 8 key things to know about the issue

Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from
2023-05-17T21:40:54+05:30

SME IPO: Crayons Advertising IPO to open on May 22, price band fixed at Rs 62-65

Crayons Advertising, a homegrown integrated advertising agency, is set to go public on Monday, May 22, with a price band of Rs 62-65 per share. The company plans to use the proceeds from the public issue to invest in setting up its own film and animation studios and enhancing its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech.
2023-05-17T13:26:42+05:30

SME IPO: Krishca Strapping Solutions gets strong response on Day 1. 10 things to know about the issue

Krishca Strapping Solutions has announced its Initial Public Offering (IPO), planning to raise Rs 18 crore. The manufacturing company, incorporated in 2017, specializes in making and selling high-quality steel straps, steel seals, strapping tools and other packaging solutions. The IPO's size consists of up to 33.2 lakh equity shares with a face value of Rs 10 each. The company has a steel strapping capacity of 18,000 MT annually and aims to use the net proceeds for setting up a new strapping line, repayment of debt and for other corporate purposes.
2023-05-16T21:37:03+05:30

Blackstone Group-backed Nexus Select Trust REIT to list on Friday

Nexus Select Trust, India's first retail assets-led real estate investment trust (REIT), backed by Blackstone Group, has raised over INR1.44bn ($19m), accounting for 45% of a $429m IPO, from 16 institutional investors in its fully-subscribed anchor book. The REIT owns 17 assets across 14 cities with Mumbai, Bangalore and Delhi being the primary markets. At the upper end of the IPO's price band, which was INR95-100 per unit, the issue was subscribed 6.55 times in the non-institutional investor category and 5.06 times by institutional investors.
2023-05-15T16:52:54+05:30

Nexus Select Trust REIT IPO allotment expected tomorrow. Here's how you can check status

Nexus Select Trust REIT IPO's share allotment is set to take place on May 16th, with the process being supervised by the registrar. Investors may receive shares based on a lottery basis. Investors can check their allotment status through the BSE or the registrar's website. Currently, Nexus Select Trust shares are commanding a premium of ₹2 in the unlisted market. The company aims to offer a pre-tax yield of 8% in FY24, at the upper price band, and will be India’s first REIT with rent-yielding retail real estate assets.
2023-05-15T16:06:53+05:30

Jupiter Hospital files DRHP with Sebi for Rs 900-1,100 crore IPO

Sources told ET that the total IPO size would be Rs 900 - 1,100 crore, and the company may consider a Pre IPO placement of Rs 123 crore.
2023-05-12T12:50:05+05:30

Nexus Select Trust IPO subscribed 5.7x

The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of ₹95-100 per unit.
2023-05-12T05:50:22+05:30

Nexus Select Trust REIT issue closes with 5.74 times subscription

Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.
2023-05-11T20:05:24+05:30

Nexus Select Trust REIT IPO sails through on Day 3

India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.
2023-05-11T13:06:11+05:30

JSW Infrastructure files papers for Rs 2,800-cr IPO

The ports business of the Sajjan Jindal-led JSW Group plans to deploy the proceeds of the public issue to retire its debt and fund capacity expansion projects. The IPO is entirely a fresh share issue.
2023-05-11T05:57:54+05:30

Nexus Select Trust REIT IPO receives 57% subscription on Day 2 of offer

Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyer’s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May.
2023-05-10T19:52:08+05:30

JSW Infrastructure files DRHP to raise up to Rs 2,800 crore via IPO

The JSW Infrastructure IPO is the third public listing by the JSW Group and follows 13 years after the public listing of JSW Energy in January 2010. JSW Infrastructure Promoters will not be diluting their current stake.
2023-05-10T10:38:41+05:30

Mankind Pharma rallies 32% on day 1

At Tuesday's closing price, Mankind Pharma was valued at a price-to-earnings ratio of 43 times its FY22 earnings. Mankind is now India's fifth largest pharma company by market value of ₹57,046 crore. Sun Pharma, Divi's Lab, Dr. Reddy's Lab, and Cipla are currently valued between ₹75,284 crore and ₹2.31 lakh crore.
2023-05-10T05:39:11+05:30

Nexus Select REIT IPO subscribed 28% on Day 1, non-QIB portion subscribed 42%

Nexus Select Trust real estate investment trust (REIT), which includes a fresh offering and OFS portion, was subscribed 28% on the first day of the IPO. The REIT has a price band of Rs 95-100 per unit and closed on May 11. A day ahead of the IPO, Nexus raised Rs 1,440 crore from anchor investors. At the upper band of Rs 100 per unit, the company has a market cap of Rs 15,150 crore and offers a pre-tax yield of 8% in FY24. It is the largest mall platform in India and includes 17 high-quality assets.
2023-05-09T20:45:45+05:30

Nexus Select Trust REIT IPO: India’s first rental yielding retail REIT opens. Should you subscribe?

Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore.
2023-05-09T09:42:03+05:30

Mankind Pharma IPO: What GMP signals ahead of listing on Tuesday

Mankind Pharma is set to list on May 9 with a premium of Rs 120 apiece according to grey market trends. The company is valued at a price-to-earnings ratio of 30 times FY22 earnings and has a market capitalisation of Rs 44,000 crore. The initial share sale of the company was subscribed 15.32 times with strong interest from QIBs and is the largest IPO so far this year. The company has 25 manufacturing facilities across India, a dedicated in-house R&D centre and a team of over 600 scientists.
2023-05-08T15:48:39+05:30

Alibaba logistics arm eyes up to $2 billion Hong Kong IPO: Reports

Cainiao Network Technology's initial public offering (IPO) plan comes after Alibaba flagged in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.
2023-05-08T09:27:58+05:30

TPG-backed RR Kabel files IPO papers with Sebi

RR Kabel proposes to utilise the net proceeds towards the funding of repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions estimated to be Rs 170 crores.
2023-05-07T13:19:34+05:30

GoI, Vedanta likely to discuss Balco IPO

The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.
2023-05-06T07:19:13+05:30

Select Citywalk, Elante Mall & more: India's largest mall platform - Nexus Select to launch REIT IPO on May 9

2023-05-03T16:57:28+05:30

Nexus Select Trust REIT IPO: 10 things to know about the first retail asset offering in India

India's first retail asset offering, Nexus Select Trust, will launch its IPO on May 9, closing on May 11, with a price band for its initial shares of between INR 95-100 ($1.28-$1.35). The company, which has 17 high-quality mall assets in 14 cities across India with a total leasable area of 9.2 million sq ft, is the country's largest mall platform. The IPO comprises a fresh issue of shares worth INR 1,400 crore and a sale of existing shares of up to INR 1,800 crore.
2023-05-03T15:45:40+05:30

Nexus Select Trust REIT IPO: Price band announced, check dates

Nexus Select Trust is India’s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities such as Delhi (Select Citywalk), Navi Mumbai (Nexus Seawoods), Bengaluru (Nexus Koramangala), Chandigarh (Nexus Elante), Ahmedabad (Nexus Ahmedabad One) among others.​
2023-05-03T09:08:19+05:30

Tata Play, ideaForge get nod for IPOs

Tata Play and drone maker ideaForge Technology have both received regulatory approval from the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs). Tata Play was the first company in India to use the confidential pre-filing of draft papers option for an initial share sale in December 2022, and obtained the regulator's observation letter on April 26.
2023-05-03T08:01:23+05:30

Leading drone maker ideaForge gets Sebi nod for IPO

The public issue comprises a fresh issue of Rs 300 crore and an offer for the sale of 48.69 lakh equity shares. The offer also includes a reservation for a subscription by eligible employees.
2023-05-02T20:32:35+05:30

Fincare SFB files draft papers with Sebi to raise funds via IPO

The IPO comprises fresh issues of up to Rs 625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by promoter and investor selling shareholders.
2023-05-02T19:40:32+05:30

Sebi returns IPO papers of Akme Fintrade

The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on February 16.
2023-05-02T19:31:05+05:30

Mankind Pharma IPO: GMP rises ahead of likely share allotment tomorrow. Here's how to check status

Mankind Pharma's Rs 4,326 crore initial public offering (IPO), the largest by a domestic drug maker so far in 2021 and with a 15.32 times subscription rate, will have share allotments made on 3 May via a lottery. Retail investor bids for the offer-for-sale fell below 100%. The IPO values Mankind Pharma at a price/earnings ratio of 30 times FY22 earnings, with its shares said to command a Rs 95-98 premium in the unlisted market, indicating an expected premium of 9% for the company when it lists. Mankind Pharma has 25 manufacturing facilities in India.
2023-05-02T14:10:15+05:30

Blackstone-backed Nexus Select Trust's Rs 3,200 cr REIT IPO to open on May 9

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.
2023-04-30T09:42:46+05:30

Eye on SME IPOs! 150-200 companies could enter D-Street in FY24

Industry experts predict that in FY24, more small and medium-sized (SME) companies will plan to go public, further increasing the amount of money raised, following over 100% YoY growth. In FY2022-23, IPOs collectively raised over INR 2,200 crore ($296m). This was achieved through 125 issues, and it is expected that 150-200 companies from this sector could list on Indian stock exchanges in FY24. Hem Securities has supported around 80 SMEs to become listed, with many instances of over 100% returns. The objective of the SME IPO Conclave was to encourage entrepreneurs to list and share success stories.
2023-04-29T09:23:27+05:30

Blackstone's Nexus Select REIT files offer document for Rs 3,200-cr IPO

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.
2023-04-28T20:57:53+05:30

Reliance targeting Jio Financial listing as soon as October: Report

The conglomerate, controlled by billionaire Mukesh Ambani, is in talks with Indian regulators to secure the necessary approvals for the market debut of Jio Financial Services Ltd. in Mumbai, one of the people said, asking not to be identified as the information is private. The parent is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit, according to an exchange filing in March.
2023-04-28T18:37:08+05:30

Mankind Pharma IPO subscribed 15.32 times

This will be one of the largest public issues by a domestic drug manufacturer after the ₹6,480-crore IPO of Gland Pharma in 2020. The qualified institutional buyers (QIB) category was subscribed 49 times, while the non-institutional investors or high net-worth individuals' portion was subscribed 3.8 times. However, the retail investor's portion was under-subscribed at 92%.
2023-04-28T05:55:42+05:30

Mankind Pharma IPO sails through on Day 3

Around nine brokerages have given "subscribe" recommendations on the issue, with some of them seeing the potential in the long term. Analysts say the growth opportunities outweigh the concerns around not so cheap valuations.
2023-04-27T11:29:20+05:30
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