CPSE IPOs within five-and-half months of government nod
The Dollar Business Bureau Setting strict timelines for the listing of profitable public sector undertakings (PSUs) on stock exchanges, the government has mandated the launching of IPO (initial public offer) within a period of five-and-half months after the approval from the concerned ministry. Within 2 weeks of the announcement in the Budget for listing of all profitable central public sector enterprises (CPSEs), the Department of Investment and Public Asset Management (DIPAM) has handed out guidelines specifying the procedure and mechanism for listing of CPSEs in a time-bound manner on stock exchanges. All CPSEs with a positive net-worth, having earned net profits back-to-back in previous three years and with no accumulated losses will be eligible for listing via divestment of 25% equity of the government, ...
People back a company whose bank balance is strong, Laurus Labs
Sheela Mamidenna Laurus Labs, a Vijayawada based R&D focussed pharmaceutical firm will launch its Initial Public Offering (IPO) scheduled to open on December 6 and close on December 8, 2016. The company plans to raise through its IPO Rs.1331 crore from the primary market. The company was incorporated as a private limited company in 2005 and in that very year established its R&D centre at Hyderabad. Beginning in 2007, 2014 and 2015, the company set up 3 manufacturing units in Visakhapatnam, A.P. Laurus launched its first Commercialised four nutritional Fine Chemicals in Europe in 2009. The company is now in a leadership position in generic active pharmaceuticals ingredients (APIs) for select high-growth therapeutic areas of anti-retrovirals (ARVs) and Hepatitis C. The company has made ...
Cabinet approves 10% disinvestment in HUDCO
The Dollar Business Bureau The Cabinet Committee on Economic Affairs (CCEA) has given nod for the disinvestment of paid up equity in Housing and Urban Development Corporation Ltd (HUDCO) on Wednesday. The CCEA chaired by the Prime Minister Narendra Modi approved for the sale of 10% stake in the state-owned firm through Initial Public Offering (IPO) as per the rules and regulations of Securities and Exchange Board of India (SEBI). Currently, the Government of India owns 100% shareholding in the HUDCO. The paid up equity capital of the company is Rs.2,001.90 crore and its net worth is around Rs 7,800 crore. Under the Ministry of Housing and Urban Poverty Alleviation, the HUDCO was formed on 25th April 1970 as government enterprise. It provides finance ...
Intellectual Property initiatives to drive Make in India
Source: PIB, Government of India Several measures have been taken to ensure continuous improvement of the Indian IP ecosystem in the country. To this effect, Department of Industrial Policy and Planning (DIPP), Ministry of Commerce & Industry, Government of India, has formulated a multi-pronged strategy to develop an Intellectual Property regime in the country to promote creativity and to develop the culture of respect for innovations and creativity. During the year, the Intellectual Property Office has been radically transformed through numerous initiatives that have contributed tremendously to easing of access to the IP system, efficiency in processing of IP applications, uniformity and consistency in the examination of applications, transparency and dissemination of IP information, bilateral cooperation at the international level, and ...
Tweak in shareholding structure likely to up foreign investments in IndiGo Airlines
The Dollar Business Bureau Ahead of Initial Public Offer (IPO), the promoters of IndiGo airlines have decided to tweak the shareholding structure with an aim to create space for foreign investors. With this, US-based NRI Rakesh Gangwal, who was holding 47.88% stake in IndiGo airlines through Virginia-based company-Caelum Investments, will now hold a majority share of the airlines. A decision in this regard followed merger of Caelum Investments with InterGlobe Aviation (which operated the airlines by holding 51.12% stake), the process for which began last year when InterGlobe Aviation filed an application in the Delhi High Court seeking consent for a merger with Caelum Investments. Caelum Investments’ stake in the airlines was deemed as foreign investment and the promoters could have had ...
Jet continues to burn cash; FDI cap the culprit?
The Dollar Business Bureau There’s more bad news for prospective foreign investors in the Indian civil aviation sector as airlines major Jet Airways has reported a net loss of Rs.1,813.7 crore (standalone) for FY2015. This, despite a big fall in its fuel expense. The full year results that were released on Friday show that despite the carrier’s fuel expenses falling to just 34.2% of its sales – the lowest since FY2010 – losses continue to mount. While some might take heart from the fact that its FY2015 loss is a huge improvement from the Rs.3.667.9 crore loss the company had incurred in FY2014, its shares plunging by over 6% on Monday indicate that investors are tired of seeing the glass half ...
How the IndiGo IPO leads us to the question of right foreign investments in the aviation industry
Steven Philip Warner | The Dollar Business For those hopefully expecting an Indigo Airlines IPO in the last few days of this month, here’s an insider leak – the IPO won’t be out until late-July. Last fourteen days of July 2015 is when the window has been decided. The IndiGo management for now isn’t sure of the date either. Whatever the uncertainties over India’s largest carrier going public, one thing’s for sure – the market definitely expects IndiGo to get this one right too! We’re not just talking of the euphoria over a ‘healthy airline’ (much of an oxymoron these days in India) being listed. Speculations are rife about what IndiGo will do to get engaged with foreign investors – be ...
