Connect with us
Tuesday,20-October-2026
Breaking News

Business

IPO fund raising all-time high at Rs 1.18 lakh crore

Published

on

Sixty three Indian corporates raised an all-time high Rs 1.18 lakh crore through main board IPOs in calendar 2021.

This was nearly 4.5 times Rs 26,613 crore raised through 15 IPOs in 2020 and almost double of the previous best year 2017 in which Rs 68,827 crore was raised.

IPOs from new age loss-making technology startups, strong retail participation and huge listing gains were the key highlights, according to Pranav Haldea, Managing Director, Prime Database Group.

Overall public equity fundraising crossed the Rs 2 lakh crore mark to reach Rs 2.02 lakh crore in calendar 2021 which was higher than the previous highest amount of Rs 1.76 lakh crore in the preceding year.

The overall response from the public was very good. Of the 59 IPOs for which data is available as of now, 36 IPOs received a mega response of more than 10 times (of which 6 IPOs more than 100 times) while 8 IPOs were oversubscribed by more than 3 times. The balance 15 IPOs were oversubscribed between 1 to 3 times.

The year witnessed tremendous response from retail investors as well. The average number of applications from retail was 14.36 lakh, in comparison to 12.77 lakh in 2020 and 4.05 lakh in 2019. The highest number of applications from retail in 2021 was received by Glenmark Life Sciences (33.95 lakhs) followed by Devyani International (32.67 lakhs) and Latent View (31.87 lakhs).

The amount of shares applied for by retail was a huge 135 per cent of the IPO mobilisation (156 per cent in 2020). However, the total allocation to retail was Rs 24,292 crore which was just 20 per cent of the total IPO mobilisation (down from 32 per cent in 2020).

According to Haldea, success of the IPOs was further buoyed by strong listing performance. Of the 58 IPOs which have got listed thus far, 34 gave a return of over 10 per cent (based on closing price on listing date). Sigachi Industries gave a stupendous return of 270 per cent followed by Paras Defence (185 per cent) and Latent View (148 per cent), 40 of the 58 IPOs are trading above the issue price (closing price of 22nd December, 2021). Average listing gain was 32 per cent, in comparison to 44 per cent in 2020 and 19 per cent in 2019.

A total of 25 out of the 63 IPOs that hit the market had a prior PE/VC investment. Offers for sale by such PE/VC investors at Rs 24,106 crore accounted for 20 per cent of the total IPO amount. Offers for sale by promoters at Rs 31,704 crore accounted for a further 27 per cent of the IPO amount. On the other hand, the amount of fresh capital raised in IPOs in 2021 was a very high Rs 43,324 crore, which was greater than the last 8 years combined.

Anchor investors collectively subscribed to 39 per cent of the total public issue amount. FPIs played a dominant role as anchor investors, with their subscription amounting to 24 per cent of the amount followed by MFs at 11 per cent. Qualified Institutional Buyers (including Anchors Investors) as a whole subscribed to 69 per cent of the total public issue amount (data for 59$ companies for which QIB and anchor investors data is available as of now). FPIs, on an overall basis as anchors and QIB, subscribed to 30 per cent of the issue amount followed by MFs at 16 per cent.

The year 2021 also saw record number of filings with SEBI. As many as 115 companies filed their offer document with SEBI for approval. According to Haldea, to put this in context, 2019 and 2020 cumulatively had a total of just 50 filings.

Following from the record number of filings, the IPO pipeline continues to remain strong with 35 companies holding SEBI approval proposing to raise roughly Rs 50,000 crore and another 33 companies which are awaiting SEBI approval to raise about Rs 60,000 crore. This, of course, excludes the much anticipated mega IPO of LIC which is expected to be launched in this fiscal.

Business

Govt asks Meta to review Facebook and Instagram recommendation systems

Published

on

The Ministry of Electronics and Information Technology (MeitY) has asked technology giant firm Meta to review the content recommendation and ranking systems that power Facebook and Instagram, stepping up regulatory scrutiny of how social media algorithms amplify information in India, according to multiple reports.

In an advisory issued to the company, the ministry had asked Meta to ensure that its recommendation systems do not lead to the disproportionate exposure of users to a single or limited set of narratives and instead provide greater access to diverse, relevant and credible information, according to them.

The ministry also directed Meta to strengthen mechanisms for rapidly identifying, reviewing and escalating content that gains significant reach through recommendation systems when such material has the potential to contribute to public confusion, violence or disruption of public order.

Apart from that, the US-based company has been asked to implement the measures immediately and inform the government of the action taken.

The advisory specifically highlights photographs, videos and graphics related to ongoing public events where the authenticity, timing, location or surrounding circumstances may be unclear.

It calls for additional context where old or unrelated visuals are presented as current, where footage has been selectively edited or where unverified claims are made regarding emergencies, police action or other official measures.

Additionally, this marks the latest escalation in the government’s scrutiny of Meta’s moderation and recommendation systems.

Earlier in August, government officials questioned Meta executives over content recommendation algorithms, deepfakes, synthetic media and safeguards against unlawful content.

Meta has separately tightened content and advertising safeguards following concerns related to child sexual exploitation material.

The company said earlier this month it deployed new AI-driven advertising review systems and removed 5.3 million pieces of child sexual exploitation content in India during January-June 2026, with more than 98% detected proactively.

Continue Reading

Business

Sensex, Nifty open flat amid mixed global cues

Published

on

Domestic equity benchmarks opened on a flat note on Monday tracking mixed global cues and momentum from last week’s gains.

Sensex opened at 74,849.30, up 120.03 points or 0.16 per cent, while Nifty began trading at 23,150.85, up 4.70 points or 0.02 per cent.

Sectorally, Nifty PSU Bank led gains and rose over 1 per cent, followed by Nifty Oil & Gas which surged 0.6 per cent.

In contrast, Nifty Private Bank, Nifty IT and Nifty Chemicals dropped up to 1 per cent.

Market experts said momentum from Nifty’s 2.8 per cent surge last week and good results from banking majors after better-than-expected IT earnings could keep the market resilient.

“However, escalation of tensions in Hormuz and consequent surge in Brent crude to $109 will act as a strong headwind,” according to them.

They further said that attractive large-cap valuations and rupee appreciation turned FII stance slightly positive, though unlikely to sustain at high crude prices. Large-caps outperforming mid and small-caps is likely to continue, with stock-specific action on Q2 results.

For Nifty, immediate support is placed at 22,950–23,000, while resistance is seen at 23,250–23,300, the experts said and added that RSI strengthened to 52.81 above its average of 34.70, while PCR stood at 1.08.

In the previous session on October 16, FIIs turned net buyers after 15 straight sessions of selling, buying equities worth about Rs 1,166 crore, while DIIs ended their 45-session buying streak with net sales of around Rs 3,661 crore.

On commodities, Brent crude traded nearly 2 per cent lower at around $107.76 per barrel, while US WTI declined about 1 per cent to $100.43.

In Asia, markets were mixed. Japan’s Nikkei traded 0.84 per cent lower, while Hong Kong’s Hang Seng and South Korea’s KOSPI rose up to 0.83 per cent. Indonesia’s Jakarta Composite fell over 5 per cent.

Continue Reading

Business

India-EFTA trade pact opens new opportunities for Norwegian investment across key sectors

Published

on

India’s strong economic growth trajectory and the implementation of the India-EFTA Trade and Economic Partnership Agreement (TEPA) are creating significant opportunities for Norwegian investors, particularly in manufacturing, renewable energy, infrastructure, financial services and the digital economy, according to industry insights.

With GDP growth projected to remain around 6.5 per cent annually through 2030, India is widely expected to become the world’s third-largest economy by the end of the decade, according to EY India report.

Analysts attribute this outlook to strong domestic consumption, rising investments, ongoing infrastructure development and reforms aimed at improving the ease of doing business.

The India-EFTA TEPA, which came into effect in October 2025, is being viewed as a major milestone in India-Norway economic relations.

The agreement seeks to promote trade liberalisation, facilitate investment flows and deepen cooperation in areas such as innovation, sustainability and advanced technologies.

The pact includes investment commitments of $100 billion over 15 years and is expected to support the creation of one million direct jobs in India, aligning with the country’s broader goals of expanding manufacturing capacity and strengthening its position in global value chains.

Industry experts believe the agreement creates a strong framework for Norwegian companies to expand their presence in India by combining Norway’s expertise in technology, sustainability and capital-intensive industries with India’s large market and growth ambitions.

Several sectors have been identified as priority areas for collaboration, including manufacturing, renewable energy, oil and gas, maritime services, seafood processing, information and communication technology (ICT), fintech and financial services. These industries are expected to benefit from increasing bilateral cooperation under the TEPA framework.

The rapid expansion of India’s digital economy and digital payments ecosystem is also creating opportunities for Norwegian companies seeking exposure to one of the world’s largest and fastest-growing consumer markets.

At the same time, India’s policy measures aimed at attracting foreign investment are expected to provide a supportive environment for long-term investors, as per the report.

Continue Reading

Trending