The funding from IHC, which is controlled by a key member of the emirate’s royal family, would have represented about 16% of the offering and would have built on an almost $2 billion investment in Adani’s companies last year

"Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company told exchanges after a board meeting Wednesday evening.

Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances

The flagship entity of the Adani Group got bids for 50.9 million shares against an offer size of 45.5 million shares, excluding the anchor book, at a price range of ₹3,112-3,276 apiece. Adani Enterprises closed 2.8% higher at ₹2,973.90 Tuesday on the BSE, having dropped for two days in a row. The benchmark Sensex ended almost flat Tuesday.

Such rights allow an employee to receive a bonus equivalent to the rise in the company's stock price over a certain period - something Indian regulations prohibit for companies going public.

Balaji Solutions' revenue from operations stood at Rs 482 crore in FY22, falling marginally due to normalisation post-easing of Covid-19 lockdown restrictions, while profit for the same period came in at Rs 15 crore.

The company may consider a pre-IPO placement aggregating up to Rs 24 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance worth Rs 86.60 crore will be utilized for funding incremental working capital requirements of the company, and general corporate purposes.

Additionally, AEL is close to receiving further investment commitments of $1-1.1 billion (around ₹8,100-9,000 crore) from investors in Middle East and Southeast Asia with the announcement expected on Tuesday when the FPO closes, said a person directly aware of the matter.

Incorporated in 2018, FirstMeridian provides a wide range of service offerings, including general staffing and allied services, by offering solutions for contract staffing, workforce automation, trade marketing, and global technology through short and long-term technology contract staffing

IHC will make the investment through its subsidiary Green Transmission Investment Holding RSC Limited.

According to the offer documents, the company proposes to use '4,165 crore of the issue proceeds to repay the debt owed by the company and three subsidiaries - Adani Airport Holdings, Adani Road Transport and Mundra Solar.

The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.

The capital markets regulator said it returned PayMate's offer document back to its merchant bankers on January 17. PayMate said in a press release it aims to submit the mandatory system audit report (SAR) to the Reserve Bank of India by the second week of February. Submission of SAR to the central bank is part of the standard operating protocol to receive final approval from the central bank as payment aggregator, it said.

The Goldman Sachs- and Equity International-backed company had filed a DRHP with the markets regulator in 2019 to raise about Rs 1,900 crore through an initial public offering of shares, but the plan was shelved due to the pandemic.

The company plans to use the proceeds from the fresh issue to repay outstanding loans availed by it and its subsidiary Avalon Technology and Services Pvt Ltd, and also to meet working capital requirements

RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. "While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely," the brokerage said.

Adani Group has consistently aligned itself to support Prime Minister Narendra Modi’s agenda. It has pledged more than $70 billion to help India pivot from being a fossil fuel importer to a generator of renewable energy.

According to the draft papers, the public issue with a face value of Rs 5 per equity share consists of a complete fresh issue of shares of Rs 750 crore with no offer-for-sale component.Of the proceeds from its fresh issuance, Rs 400 crore will be utilised for prepayment/repayment of all or a portion of outstanding borrowings availed by the company, and Rs 200 crore will be used to fund working capital requirements and general corporate purposes.

The company will offer partly paid shares to retail investors at a discount of ₹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.

Secondary share sale to offer exit to legacy fin investors, growth equity for expansions.

The company had filed its draft red herring prospectus (DRHP) for the IPO with Sebi in September 2021 and is aiming to raise Rs 8,430 crore. Oyo’s last submission to Sebi was the updated financial results of the first half of financial year 2022-23.

As per the draft papers, Innova Captab's proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders.

The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware.

Innova Captab is an integrated pharmaceutical company in India with a presence across the value of the pharmaceutical chain including research and development, manufacturing, drug distribution and marketing, and exports. The company filed preliminary IPO papers with Sebi on July 07, 2022.

The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%. As of September 2022, the promoters owned 72.63% of Adani Enterprises, while the remaining 27.37% was with public shareholders. Life Insurance Corporation held 4.03% among the public shareholders, while Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund, and Lts Investment Fund owned stakes between 1% and 2%.

In the past six months, 27 companies with IPO plans worth ₹38,000 crore have allowed their regulatory approvals to lapse, according to Prime Database numbers. Similarly, the permissions to another nine firms planning to raise a total of ₹15,000 crore are set to expire over the next two months.

The company, ICICI Securities and JM Financial, did not respond to ET's queries. In 2018, Oman India Joint Investment Fund invested $24 million or ₹170 crore in the company for a 26% stake.

Cyient DLM focuses on highly complex, low-volume electronics manufacturing for safety-critical segments. The company had last year appointed Anthony Montalbano as its CEO.

Adani Enterprises late November announced the initiation of a much-awaited follow-on public offer (FPO) to raise as much as ₹20,000 crore ($2.5 billion) from retail and institutional investors, riding piggyback on the meteoric 18-fold jump in its stock prices in the last five years. This will be the largest such issuance in India to date.

For a developing country such as India, Small and medium enterprises (SMEs) are the wheels that turn the economy, and SMEs contribute to one-third of India's GDP. The SMEs have played an essential role in India's socio-economic development and in globally developed countries such as Germany. In fact, SMEs generate 54.4% of overall value added in Germany and 63.7% of overall employment in the German non-financial business economy.

Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides. It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research & Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm.

He said setting right expectations, being transparent and not overselling are great ways to reduce the volatility of the stock price pre and post-IPO. "Doing this well can make shareholders feel like owners & help reduce customer acquisition costs, the biggest cost for B2C businesses."

Shares of the cash logistics player closed at ₹106.50, a 13% premium to the issue price. This is the first IPO to close above the offer price on listing day in the past six issues.

The quota for retailers was subscribed 39.78 times whereas the portion for non-institutional investors fetched 33.94 times bids, and the allocation for qualified institutional bidders was booked 2.40 times.

The company had filed its Draft Red Herring Prospectus (DRHP) with Sebi in September 2021 and is aiming to raise Rs 8,430 crore

The company is selling its shares in the range of Rs 61-65 apiece between December 30 and January 4, in a lot size of 230 equity shares

Pranav Haldea, Managing Director, PRIME Database, said the momentum seen in the last 2 months of 2022 is likely to continue, at least for the smaller-sized IPOs. However, it may be a while before we see larger-sized deals, especially in light of the lack of sustained interest from FPIs, he said.

Overall, 40 Indian corporates raised Rs 59,412 crore through main board IPOs in calendar year 2022, half of the Rs 1,18,723 crore (all-time high) mobilized by 63 IPOs in 2021, according to the database. According to Pranav Haldea, Managing Director, PRIME Database Group, Rs 20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone.

In the past two years, several large FMCG companies, such as HUL, ITC, Marico, Emami, Reckitt, Wipro Consumer and Colgate Palmolive, have picked up stakes in DTC digital-led startups that garnered popularity among consumers during the Covid-19 pandemic.

Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes.

Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.

Oyo has been asked to update information such as updated risk factors, key performance indicators (KPIs), outstanding litigations and basis for valuation, the people cited above said.

Incorporated in the year 1992, Sah Polymers is a leading PP woven bags manufacturer and exporter of PP woven bags and HDPE box bags, flexible intermediate bulk containers (FIBCs), and BOPP laminated bags.

The stock closed at ₹364 apiece on the BSE, down 0.55% from its IPO price of ₹366. The stock touched a high of ₹372.40 and a low of ₹351.10 during Thursday's trading. Analysts are advising short-term investors, who bet on KFin Tech's public issue, to book profits and re-enter after a clear trend emerges.

The Nasdaq Composite gained 248.83 points, or 2.11%, to 12,065.15 at the opening bell

Meanwhile, India in its annual Economic Survey forecast economic growth of 6% to 6.8% in the 2023/24 fiscal year, slowing from the 7% growth projected for the current year ending March 31, as a global slowdown might hurt exports.

In another ruling passed on November 2, 2018, the regulator had restrained Ramalinga Raju, Rama Raju, B Suryanarayana Raju and SRSR Holdings from the securities markets for 14 years. Also, they were asked to disgorge Rs 813 crore of unlawful gains with interest.

Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday recognised "offshore derivative instruments (ODIs) as valid contracts" in order to enhance business activities in the Gujarat International Finance Tec-City (GIFT City).

The company is scheduled to announce its earnings for the December quarter on Friday. The sustenance of the current momentum in the stock will hinge upon the earnings scorecard and guidance on price hikes after the tax hike.Markets/Stocks/News

Companies say green shoots of rural revival visible

The funding from IHC, which is controlled by a key member of the emirate’s royal family, would have represented about 16% of the offering and would have built on an almost $2 billion investment in Adani’s companies last year

Shares of ACC and Ambuja Cements were in focus today after Adani Group issued a statement saying none of the shares of Ambuja or ACC have been pledged by promoters. But as the rout in Adani stocks deepens. >> For more such web stories click on the ET icon below

In the overseas market, both gold and silver were traded in green at USD 1,956 per ounce and USD 24.15 per ounce, respectively.Comex gold prices traded their highest levels in more than nine months in Asian trading hours on Thursday after investors access dovish policy from US Federal reserve, the analyst said

Prices on the daily chart are continuously showing an effort to close above their 200-EMA placed at 17,550 levels. From the past five days, Nifty is hovering within the range of 17,900–17,400 levels. Any breakout or breakdown above or below the mentioned levels will trigger the next directional move in the benchmark index

Some analysts said that the European Central Bank (ECB) would need to be hawkish at its meeting later in the day to avoid sparking a bond rally. That would mean president Christine Lagarde focusing more on work to be done than progress made

Seven of the UK central bank’s nine-member Monetary Policy Committee endorsed the hike to 4%, while two voted for no change. The majority said strong pay growth and an ongoing shortage of workers were feeding price pressures in the economy.

Public sector lender State Bank of India (SBI) is among several domestic companies that will announce earnings on Friday. >> For more such web stories click on the ET icon below

The lender reported a negative provisions of Rs 22 crore which is reflection of provisions write-back on net basis in line with improvement in asset quality. Provisions were at Rs 200 crore in the year ago quarter.

The 30-share BSE Sensex closed up 224.16 points at 59932.24

Adani Ent., Adani Ports SEZ, UPL, HDFC Life and Divis Labs were among the top losers on NSE in today's trade.

The company's EBITDA for the quarter was Rs 349.65 crore as against Rs 392.11 crore in the corresponding quarter of last year, representing a decline of 10.83%

In the Nifty pack, 19 stocks closed in the green, while 31 stocks ended in the red.

The state-owned lender's net profit is likely to zoom by a massive 60-70%, compared with the last-year period, while net interest income (NII) too, is expected to grow in healthy double digits.

The NSE Nifty index closed 5.9 points down at 17610.4

The Nifty Auto index closed 0.05 per cent up at 13213.25.

Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) are set up as Business Trusts and hold and operate revenue-generating real estate or infrastructure assets, respectively. REITs and InvITs raise funds by issuing units to the public at large.

The Nifty Bank index closed 0.39 per cent up at 40669.3.

The 30-share BSE Sensex closed up 224.16 points at 59932.24

Equity markets witnessed mixed trends on Thursday, with the Sensex climbing over 224 points, while the Nifty ended flat in highly volatile trade, weighed down by continuous selling in Adani group stocks. >> For more such web stories click on the ET icon below​

The Nifty Realty index closed 0.38 per cent up at 409.25.

Revenue from operations came in at Rs 3,475 crore, up 8%, compared with Rs 3,208 crore in the same quarter last year.

The 30-share BSE Sensex closed up 224.16 points at 59932.24

Providing affordable, innovative and essential services to customers in our 14 markets with unparalleled network quality and customer service is integral to our ambition of transforming lives across Africa. These strong results are testament to this strategy despite the current macro-economic and geopolitical uncertainties," Aitel Africa Chief Executive Officer Segun Ogunsanya said in a statement

The 30-share BSE Sensex closed up 224.16 points at 59932.24

“Maruti Suzuki's numbers for passenger vehicles are 1,47,000 against 1,29,000 last year. That is a growth of about 14.5% and we did add through our inventory because our retails were 1,02,000. That was expected because of the low inventories which we began the month with. . That was expected because of the low inventories which we began the month with.”

The Nifty IT index closed 1.83 per cent up at 30566.75.

January auto wholesale performance was a mixed bag. Entry-level two-wheelers continue to remain sluggish while PV and CV sales saw a rise.>> For more such web stories click on the ET icon below

Sterling Tools, Mold Tek Tech, Jindal Saw, KPIT Tech and Rajesh Exports, hit their fresh 52-week highs during the day.

The 30-share BSE Sensex closed up 224.16 points at 59932.24

The company's EBITDA (earnings before interest, tax, depreciation and amortisation) stood at Rs 290 crore, while margins declined 457 basis points to 22%. The performance during the quarter was mainly impacted due to high inflation.

The NSE Nifty index closed 5.9 points down at 17610.4

The mood on Thursday was dominated by turbulence in the equities as the selloff Adani Group shares persisted, dragging the benchmark stock index down after the conglomerate shelved its fully-subscribed secondary share offering overnight.

Gross revenue rose 13% to Rs 1,559 crore during Q3FY23 compared to Rs 1,385 crore previous year. On a quarter-on-quarter (QoQ) basis the net profit and revenues remained flat.

The Nifty Pharma index closed 0.4 per cent down at 12306.3.

From the Sensex pack, ITC, and IndusInd Bank were the top gainers, rising about 3.5-5%. HUL, Infosys, Wipro, HCL Tech, TCS, ICICI Bank, and Kotak Bank also closed with gains. However, HDFC, NTPC, Bajaj Finance, Power Grid, and Tata Steel ended with cuts.

The revenue has crossed the Rs 3,000-crore mark for the time in a quarter, the company says

The US Federal Reserve on Wednesday scaled back to raise interest rates by an expected 25 basis points after a year of larger hikes. >> For more such web stories click on the ET icon below

Investor attention is now on European Central Bank (ECB) and Bank of England (BOE) interest rate decisions later in the day, with expectations of a 50-basis-point rate hike from each.

“Our operating leverage, post the pay down and debt will be in the range of about 1.4 net debt to EBITDA. So, a very healthy balance sheet, strong cash generation and we are set up well, in spite of the fact that interest rates have climbed but as we think about going forward and paying down debt, that will put us in a good position.”

The sale lowered Berkshire's holdings in BYD's issued H-shares to 12.9% on Jan. 27, down from 13.04%, the filing to the Hong Kong Stock Exchange showed on Thursday

Since the Jan. 24 Hindenburg report which alleged improper use by the Adani Group of offshore tax havens and stock manipulation and also raised concerns about high debt, the market capitalisation of seven listed Adani Group companies has fallen by half or nearly $100 billion. Its dollar bonds have tumbled

The Budget 2023 announcement to make changes to tax exemption policy on life insurance will likely have a 10-12 percent impact on the top-line products of HDFC Life and a five percent impact on the bottom-line products if nothing is done to mitigate the change, said Vibha Padalkar, MD and CEO, HDFC Life Insurance.

The report said that the recent IRDAI proposal that allows investors to take 25% stake without assuming promoter responsibilities has also helped in deepening interest.

Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income from tax

Change in product mix to drive future profitability; valuations rich but sustainable

Change in product mix to drive future profitability of ICICI Lombard; valuations rich but sustainable

FM Nirmala Sitharaman could go for an increase in the section 80D limit to make health covers more attractive for taxpayers at a time when medical expenses are rising.

In the upcoming Budget 2023, FM Nirmala Sitharaman could go for an increase in the section 80D limit to make health covers more attractive for taxpayers at a time when medical expenses are rising.

The Insurance Regulatory and Development Authority of India (IRDAI) went on overdrive this year to facilitate ease of doing business, LIC went public, life insurance companies sold guaranteed return products on the back of higher interest rates while health insurers rolled out wellness and OPD benefits.

The Insurance Regulatory and Development Authority of India (IRDAI) went on overdrive this year to facilitate ease of doing business, LIC went public, life insurance companies sold guaranteed return products on the back of higher interest rates while health insurers rolled out wellness and OPD benefits.

IRDAI has further asked life insurers to assess their capital situation.

IRDAI has further asked life insurers to assess their capital situation.

The company#39;s PAT (profit after tax) stood at Rs 180.61 crore during the corresponding quarter of the previous financial year, DFCL said in a regulatory filing.

On the NSE, it advanced 3 per cent to settle at Rs 152.20 per share. During the day, it climbed 4.94 per cent to Rs 155.

Its total income during October-December 2022 marginally rose to Rs 1,167.13 crore, compared with Rs 1,169.63 crore in the corresponding period last fiscal.

The announcement regarding PAN was made by Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday.

Prabhudas Lilladher is bullish on Jubilant Ingrevia has recommended buy rating on the stock with a target price of Rs 900 in its research report dated February 01, 2023.

Prabhudas Lilladher is bullish on Jubilant Ingrevia has recommended buy rating on the stock with a target price of Rs 900 in its research report dated February 01, 2023.

Prabhudas Lilladher is bullish on Sun Pharmaceutical Industries has recommended buy rating on the stock with a target price of Rs 1175 in its research report dated February 01, 2023.

Prabhudas Lilladher is bullish on Indian Oil Corporation has recommended buy rating on the stock with a target price of Rs 125 in its research report dated January 31, 2023.

Prabhudas Lilladher is bullish on Westlife Foodworld has recommended buy rating on the stock with a target price of Rs 852 in its research report dated January 31, 2023.

Prabhudas Lilladher is bullish on Apar Industries has recommended buy rating on the stock with a target price of Rs 2260 in its research report dated January 31, 2023.

Prabhudas Lilladher is bullish on UPL has recommended buy rating on the stock with a target price of Rs 1070 in its research report dated January 31, 2023.

LKP Research is bullish on Larsen and Toubro has recommended buy rating on the stock with a target price of Rs 2442 in its research report dated January 31, 2023.

YES Securities is bullish on Indian Oil Corp has recommended buy rating on the stock with a target price of Rs 120 in its research report dated February 01, 2023.

YES Securities is bullish on SRF has recommended buy rating on the stock with a target price of Rs 3195 in its research report dated February 01, 2023.

YES Securities is bullish on TTK Prestige has recommended buy rating on the stock with a target price of Rs 987 in its research report dated January 31, 2023.