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"Overall, I do not see this as a big dampener for the entire debt category. Mutual funds provide liquidity, which is not available otherwise," said Devang Shah, co-head, fixed income at Axis Mutual Fund.

The market may have been volatile and moved sideways over the last one year, but some SIP investments made money for investors. Here are five equity mutual fund schemes that offered an impressive return to investors in the last one year.

Many investors are considering investing in debt schemes to claim long term capital gains tax. Is it a wise move? Where should you invest?

Nilesh Shah of Kotak AMC states that investments made before 31st March 2023 will continue to get the benefits of long-term capital gains and indexation. However, investors in the upper tax bracket will have to pay higher taxes. Shah believes that the AMC industry will have to focus more on financial education, as investors must be smart in understanding how they park their money. There are also many other potential options in the mutual fund industry, such as short-term bond funds, floating rate funds, and guilt funds.

"The withdrawal of indexation of debt fund gains can be seen more as a concerted attempt to move away from tax arbitrage and create a level playing field. Hopefully, tax rates will also be reduced over time to adjust for inflation," Bank of Baroda chief economist Madan Sabnavis said.

At least three asset management companies (AMCs) have together opened 16 international equity mutual fund programmes for lump-sum investments up to the amounts legally permissible. The Finance Bill amendments, applicable from the next financial year beginning April 1, will remove indexation benefits for debt-oriented savings plans.

"Demand for above three-year corporate bonds would be impacted, and we could see some steepening of the curve right from one-year to five-year point, and spreads with government bond yields could see 10 basis points of widening" said Raju Sharma, head fixed income at IDBI Mutual fund.

Ever since the news came out, many investors were asking around whether there are any ways to avoid the extra tax. Sure, experts never fail such investors. They have been offering many quick-fix solutions.

The deadline for all the existing mutual fund folios, including jointly-held ones, is on March 31. Failure to do so will result in the folios frozen for debits.

From April 1, capital gains arising from investments in debt mutual fund schemes will be added to taxable income and taxed in line with the income tax slab rate. The government made this unexpected change as part of amendments in the Finance Bill last week.

We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

MNC funds invest in a diversified portfolio of multinational corporations, typically across different sectors, such as technology, healthcare, consumer goods and energy.

There are various points to remember before the financial year ends, Here is a list of different areas one needs to check.

"Fixed deposits will be at par with some debt schemes once the tax advantage is gone from a retail investor's perspective," said Ashish Shankar, MD and CEO, Motilal Oswal Private Wealth. "For HNIs and family offices, direct debt and structured debt will become more attractive."

I also believe that the way the mutual funds have been playing the development role on the bond market, which I think is one of the most needed for the country as a whole, in addition to the equity market.

Many investors are calling their advisors about the tax treatment of their debt mutual fund investments. Advisors have been telling investors that all investments made before March 31,2023 will continue to enjoy LTCG and Indexation benefits.

Indexation helps investors to bring down taxes as it calculates the taxes after accounting for inflation. In a high inflation environment, indexation brings down the taxes significantly.

The Securities and Exchange Board of India, in its circular dated May 8, 2017, allowed the use of e-wallets for investment in mutual funds within the umbrella limit of Rs 50,000 for investments by investors, especially the young generation -- to purchase these instruments through both e-wallet and/or cash per mutual fund per financial year.

Quant Mutual Fund has launched a Dynamic Asset Allocation Fund that provides 100% flexibility in shifting between debt and equity. The company aims to target a new investor audience, such as people who invest in FDs but are reluctant to take risks. They believe the new fund can generate extra alpha over FD returns and offer a similar low-volatility product with better taxation. The fund can be used as a debt tax savings product, while Sebi also allows exiting 100% from equity or participating in 100% debt. The fund aims to generate alpha opportunistically when extreme or special situations arise.

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.

ETMutualFunds looked at the ELSS category to see whether the schemes in it managed to beat their benchmarks over the 10-year period. There were 27 schemes in the ELSS category that have completed 10 years of existence.

By investing in a fund of funds, which offers asset diversification, investors may also benefit from lower risks as it follows a passive investment strategy.

Deals beyond a certain value require approval from the regulator, as it keeps a tab on unfair business practices in the market place.

The move set the U.S. central bank's benchmark overnight interest rate in the 4.75%-5.00% range, with updated projections showing 10 of 18 Fed policymakers still expect rates to rise another quarter of a percentage point by the end of this year, the same endpoint seen in the December projections.

The small cap category has faced a lot of volatility in the interim. The category delivered around 2.19% return in the last one year horizon.

Midcaps and smallcaps tend to feel the pinch more than largecaps during macroeconomic advents. This is despite valuation in the smaller caps also correcting. Some profit booking in midcap and smallcap stocks could occur in the nervous market but one should start nibbling back into increasing equity allocation to domestic equities, especially largecaps. Kotak AMC's CIO-Equity, Harsha Upadhyaya, believes the valuation risk remains minimal in largecaps, making them attractive to investors for long-term investments.

Aditya Birla Sun Life AMC CEO A Balasubramanian says the firm’s exposure to the Adani Group has been paid on time or earlier than the due date. SIP cancellations might occur, however, the net number should remain positive moving forward. The upcoming election should see a positive outcome for the Indian market. Stocks in the consumption segment would be the least volatile with no earning negative surprises.

According to regulatory guidelines, investors should have a nominee for all their mutual fund folios, or inform the fund house they do not wish to have one by March 31. Otherwise, their folios will be frozen for debits.

"Concerns on growth and financial stability point to easier than expected monetary conditions. If this contagion in the global banking system continues, monetary policy will continue to be easy, making it a good time to allocate some money to long duration bonds with a 5-10 year maturity." says Sandeep Bagla, CEO, Trust Mutual Fund.

As per Association of Mutual Funds in India (AMFI) data as of January 2023, individual mutual fund investors have 80% of their total mutual fund allocation towards equity schemes, and only 14% of the allocation is towards debt-oriented schemes.

Silver ETFs also have an advantage over SIlver futures which are also traded on the exchanges. The former is traded on exchanges in the form of stocks, Solanki said. Trading in silver futures and for that matter any derivative is complicated while ETFs are much simpler to understand, he added.

Around nine fixed maturity plans (FMPs), five gilt funds, two ETFs and two fund of funds (FoF), and one ELSS and index fund scheme are open for subscription in the market.

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.

For some people investment is an activity where there is a lot of action all the time. They strongly believe that to get returns one needs to actively manage their portfolio and churn appropriately, says Suresh Sadagopan.

The NSE Nifty fell 111.65 points or 0.65% to close at 16,988.40. The BSE Sensex declined 360.95 points or 0.62% to end at 57,628.95. "It's the fear factor that the crisis in the developed market financial system will not end soon which is dragging down the market at the moment," said Siddarth Bhamre, head, research, Religare Broking.

Puneet Pal, head - fixed income, PGIM India Mutual Fund, said he expected the US Fed to hike rates by 25 bps next week, but he pointed out the crucial aspect will be the future guidance.

Is it the right time to invest in equity mutual funds? Why mutual fund managers/experts believe that it is great time or opportunity to invest in equity mutual funds?

The goals cannot be vague, such as ‘I will buy a house when I have enough money’. Goals should be ‘SMART’: specific, measurable, achievable, relevant and time-bound.

This type of fund has huge interest rate risk as any change in the interest rate will impact the price of the bonds, which will impact fund returns.

Investing consistently is more than important than timing the markets.

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.

HDFC NIFTY SDL Plus G-Sec Jun 2027 40:60 Index Fund, an open-ended target maturity scheme, will close for subscription today. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment of units under NFO.

Equity mutual funds shuffled their holdings in banks and insurance in February as foreign investors trimmed their positions in these stocks as part of their broader sell-off in Indian equities.

"With this fund, an investment by an Indian investor will be made in INR locally into the Bandhan US Treasury Bond 0-1 Year Fund of Fund. Our fund will in turn invest into an overseas ETF that invests in US Treasury Bonds. Being a local investment, individual remittance limits and Tax Collected at Source (TCS) requirements under the LRS facility are not applicable," Kapoor said.

The US Treasury Bond 0-1 year Fund of Fund is an open-ended FoF that will invest in units of JPMorgan BetaBuilders US Treasury Bond 0-1 year ETF.

Securities and Exchange Board of India (Sebi) granted recognition to AMC Repo Clearing Ltd in January last year.

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.

Are the recent troubles offer a great opportunity to invest in banking schemes?

As per the Income Tax, such mergers will not result in capital gain or loss for the merging schemes. They will be treated as a continuous investment into the next scheme.

Target maturity funds are passively managed debt mutual funds that come with a specified maturity date and replicate the underlying index.

“Given robust financials and ample business opportunities, we expect Thermax to trade at a premium. In the long term, Thermax with its strong execution and technological capabilities in green energy and the wastewater industry should be able to deliver strong performance,” .


The interim dividend will be paid to the shareholders whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on March 29, which is the record date.

Fitch said that Adani Transmission Limited and Adani Ports and Special Economic Zone are prone to risks which could affect financial flexibility.

Amazon last year closed its $8.5 billion deal for MGM, adding the company behind "Rocky" and James Bond in a bid to beef up its Prime Video streaming service amid intensifying competition.

The price has made a Lower Top Lower Bottom Pattern during this correction. In the current week, the price breached the previous 52-week low of 197 and corrected further to make lows of 186 odd levels with high volumes.

Following weeks of volatility in the market after the unexpected failure of two U.S. banks and the rescue of Credit Suisse in Europe, investor nerves were calmed this week by the sale of assets in collapsed lender Silicon Valley Bank and no new signs of further stresses in the banking system.

The FDIC had said that the deal would see Flagstar Bank assume substantially all of Signature Bank's deposits, some of its loan portfolios and all 40 of its former branches. Roughly $60 billion of Signature Bank's loans and $4 billion of its deposits would remain with it in receivership.

The dollar index, which tracks the currency against six major peers, was flat in early Asian trading, following drops of about 0.3% in each of the past two sessions. The weakness comes despite a rise in U.S. Treasury yields, which is also the result of ebbing demand for the safest assets.

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Crude prices rose modestly, extending sharp gains from the previous session due to supply disruption risks from Iraqi Kurdistan and hopes that banking sector weakness is contained. Crude prices rose more than $3 a barrel on Monday on supply concerns after export halts from Iraq's Kurdistan region.

As stress in the banking sector appears to subside, markets are now pricing in a 48% chance of the U.S. Federal Reserve raising interest rates by 25 basis points in May, according to the CME FedWatch tool. Bullion is seen as a hedge against inflation, but the opportunity cost of holding non-yielding gold rises when interest rates are increased to bring down inflation.

Analysts had expected U.S. crude oil stockpiles to have risen last week, while distillate and gasoline inventories were seen down. The U.S. Energy Information Administration will release its weekly report at 10:30 a.m. (1430 GMT) on Wednesday.


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Puri expects the fast-moving consumer goods (FMCG) industry to bounce back by volume sales growth from the next fiscal year, led by rural demand, with early signs of recovery already visible. Puri said the revival will be accelerated, with inflation cooling down and product prices correcting.

Bankers and lawyers said that though the process to declare a fraudulent account may get elongated after the Supreme Court verdict, a detailed standard operating procedure (SoP) will eventually eliminate legal hurdles in the future. On Monday, a two-judge bench of Chief Justice of India DY Chandrachud and Justice Hima Kohli said that borrowers must be heard before their accounts are classified as fraud, upholding a Telangana High Court order against an appeal by State Bank of India (SBI).

While the Payment of Commission Regulations, 2023, removes previous caps on payments, the Expenses of Management (EOM) Regulations, 2023, allows for additional expenses related to foreign and IFSC branches, Insurtech, and insurance awareness. The new regulations issued by the Insurance Regulatory and Development Authority of India (IRDAI) will be effective from April 1.


The hospital chain operates 15 hospitals offering 4,095 beds, which will go up to 4,670 across 18 hospitals by the next financial year and is the largest chain in the GCC countries with 15 hospitals. They also operate 113 clinics and 257 pharmacies in these Gulf Cooperation Council markets

The provision may not apply to schemes which solely provide for merger of a wholly-owned subsidiary or its division with the parent company. However, such draft schemes will be filed with Sebi for the purpose of disclosures and the same will be disseminated on the websites of the unlisted MIIs concerned, according to a circular

The regulator has decided to introduce the changes in the Securities Lending Scheme, whereby intermediaries will have to send the fee payable, by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the Sebi payment gateway


European banks rose 1.2%, adding to Monday's 1.4% gain. Swiss bank UBS climbed 1.6% after CEO Ralph Hamers said the bank saw its government-orchestrated takeover of Credit Suisse as a growth opportunity, in an internal memo seen by Reuters. Credit Suisse shares rose 1.7%

Investor confidence in the banking sector remains fragile as the ECB highlights the need for greater regulatory scrutiny following recent volatility, which saw European banks weaken slightly. Bank stocks in the US, however, rose slightly, overall financial stability remaining on a solid footing despite event-triggered banking fears

Silicon Valley Bank's management was informed by the Federal Reserve's bank supervisors of the risks of the bank's unusual business model in the fall of 2021, says Michael Barr, the Fed's vice chair for supervision. Barr said the bank's managers failed to address the problems, despite being given a low rating, while Silicon Valley Bank's failure was the result of mismanagement



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Commodity and currency expert Anuj Gupta recommends a buying strategy on gold and silver futures over the remaining part of the trading session, said Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities.

Over the past fiscal year, the Nasdaq-listed company refinanced USD 525 million in the domestic markets ahead of the March 2024 maturity, in addition to repayment of USD 300 million from its internal cash flow accruals.

Crude oil prices extended gains on Tuesday with Brent crude futures rising by 0.4% to $78.44 and West Texas Intermediate US crude up 0.4% at $73.07. The price rise followed an Iraqi arbitration decision, which confirmed that if the country wished to ship oil, it required Baghdad's consent. If this results in a protracted outage, Barclays estimated prices could increase. Meanwhile, positive news regarding banking and signs of China's recovering demand also contributed to the upward pressure on prices.


Taking to Twitter, Jugeshinder Robbie Singh said the deliberate subterfuge will be clear to all once exchanges update the data post end of quarter. Earlier, a report by The Ken claimed that the present data available with the exchanges is not matching with the conglomerate's statement of repaying all the $2.15 billion of share-backed debt.

The US dollar has fallen for the second consecutive day against a basket of other currencies, as concerns over global banking disorder eased. Some solace was taken from North Carolina's First Citizens BancShares proposal to buy all deposits and loans from failed lender Silicon Valley Bank, suggesting no more cracks have emerged in the banking system. As a result, investors used riskier currencies as a safe haven, with the Australian dollar seen as a liquid proxy for risk appetite, rising by 0.39% to $0.6677 after better-than-expected retail sales data.

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U.S. Fed's head of banking supervision Michael Barr told lawmakers on Tuesday that it was appropriate for outsiders to conduct independent reviews of the central bank's oversight of Silicon Valley Bank, in addition to the regulator's own internal review.



The company will reportedly announce the details of the successor in due course

The dividend will amount to Rs 7,621 crore. The board has approved the fifth interim dividend of Rs 20.50 per equity share i.e., 2050% on the face value of Re 1 per share for the financial year 2022‐23, amounting to Rs 7,621 crore," the company said in a filing.

On Tuesday, benchmark equity indices Sensex and Nifty ended marginally lower in highly volatile trade as losses in IT and auto stocks were largely offset by gains in banking and oil shares amid mixed global trends.

The NSE Nifty index closed 34.0 points down at 16951.7

"Spot gold prices in the Delhi markets traded at Rs 58,750 per 10 grams, down Rs 230 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

The Nifty Pharma index closed 0.08 per cent down at 11873.2.

Adani Ent., Adani Ports SEZ, Tech Mahindra, Hero MotoCorp and Tata Motors were among the top losers on NSE in today's trade.

In the Nifty pack, 18 stocks closed in the green, while 32 stocks ended in the red.

India VIX was down 2.20% from 15.44 to 15.10 levels. Volatility is expected to be high tomorrow due to the expiry of weekly and monthly derivatives.

Nifty indices, including Nifty 50 ETF, Nifty Bank, and Nifty Next50, are due to undergo their semi-annual rebalance on March 29. According to Nuvama Institutional Research, RIL, Infosys, ICICI Bank, and HDFC Bank are the stocks expected to see the biggest outflows. Meanwhile, Page Industries, Canara Bank, SBI, Axis Bank, and Coal India are predicted to see maximum net inflows. The changes could lead to some weight reduction in non-F&O members such as Adani Total Gas, Adani Transmission, Adani Green, DMart, Bajaj Holdings and Investments, Nykaa, LIC, P&G, and Zomato.

Shivalik Bimetal, Career Point, Network People Services Technologies Ltd., W S Industries and DRC Systems India Ltd., hit their fresh 52-week highs during the day.

The IPO consists of a fresh issue of ₹320 crore and an offer for sale (OFS) of shares worth ₹545 crore by promoters and existing shareholders. The company will use the proceeds from the fresh issue for debt payment, working capital requirements, and general corporate purposes.

On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.

“Each business group and company can pursue independent fundraising and IPOs when they are ready,” Zhang said in a statement.

The company had filed preliminary IPO papers with Sebi on January 4, 2023. The IPO consists of a fresh issue of Rs 202.50 crore and an offer-for-sale of up to 5.7 million equity shares by its existing shareholders and promoters.

According to market sources, the company's shares are being enquired for a premium of Rs 25-30 in the unlisted market. The company is yet to announce the price band for the IPO.

Avalon is a fully integrated electronic manufacturing company that offers end-to-end service solutions. The company has 12 manufacturing units located across the US and India. Some of its key clients include Kyosan India, Zonar Systems Inc, Collins Aerospace, and eInfochips, among others

In the filing, Oyo will outline plans to sell just a third of the new shares it originally planned, eroding the amount of fresh capital it is expected to receive.

Backed by investors such as Sequoia Capital and Belgium's Sofina, Mamaearth is now in a "wait and watch mode", a Reuters report said, citing turbulence in stock markets globally amid worries about the financial health of banks.

The company has cut the size of its IPO to Rs 865 crore from Rs 1,025 crore planned earlier. The reduction in the IPO size was a result of the pre-IPO placement carried out by the company, which amounted to Rs 160 crore.

Steel bars and wires manufacturer Maiden Forgings opened for IPO on March 23 to raise Rs 23.84 crore. The IPO will close on March 27. The new issue consists of 37,84,000 equity shares worth Rs 10 apiece, with a ceiling on the issue price between Rs 60 and Rs 63

The three-day initial public offering (IPO) will close on April 6, and the bidding for anchor investors will open on March 31, according to the red herring prospectus (RHP).

Through the IPO, the company plans to raise about Rs 130 crore, of which Rs 58 crore will be used to repay loans availed by the company from scheduled commercial banks, and Rs 71 crore for funding working capital requirements, besides general corporate purposes.

"The current grey market premium (GMP) of Udayshivakumar Infra is Rs 10 as of March 23rd, 2023. Considering the upper band price of Rs 35, the share could give a listing gain of 28% to investors," Manish Khanna, Co-founder of Unlisted assets, said.

About 50% of the offer will be available for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Bidders, and not less than 35% will be reserved for retail investors. The offer also includes a reservation for subscription by eligible employees.

According to market sources, the grey market premium (GMP) of Udayshivakumar Infra, which indicates the premium commanded by shares in the unlisted market, has dropped down to Rs 6-7.

The proposed IPO will have both fresh issue of shares and offer for sale components.

“We had planned (the IPO in) March 2022 but before that the Ukraine war happened and Nasdaq started crashing. So, all the multiples were going down,” Taku said on the sidelines of an event, adding that the fintech firm continues to be in an IPO ‘ready mode’.

According to market sources, the grey market premium (GMP) of Udayshivakumar Infra, which indicates the premium commanded by shares in the unlisted market, was unchanged at Rs 10. Analysts are mixed on whether investors should subscribe to the IPO given muted market sentiments.

IndiaFirst Life Insurance Company recorded its highest five-year growth in terms of New Business Individual Rated Premium (IRP) amongst life insurers with PSU bank percentage, with a CAGR of 27.3% between fiscal 2017 to fiscal 2022.

Managing director Mahesh Bhanushali had earlier expressed his gratitude for the overwhelming response the IPO received. He said strong demand for the issue reflected the investors' trust and confidence in the company's growth prospects and the management.

According to market sources, Udayshivakumar Infra shares are commanding a premium of Rs 10 in the unlisted market, which is higher than the previous day.

According to market analysts, the grey market premium, which indicates the premium commanded by shares in the unlisted market, fell sharply from subscription closing date to around Rs 15. The company has fixed a price band of Rs 133-140. At the upper end, the company's shares are expected to get listed at 10% premium.

The company has 46 work orders in hand having an aggregate order book value of Rs 1,291 crore, as of the December quarter. Out of these, 30 are ongoing and 16 are new work orders, which are yet to start.

The six companies had filed their preliminary initial public offering (IPO) papers with Sebi between September 2021 and May 2022 and their papers were returned during January-March (till March 10).

DIPAM will drive the listing process for which the Centre had given initial approval in 2017.

About 60% of the offer is reserved for retail investors, while 30% is set aside for non-institutional investors. Meanwhile, 10% of the issue is reserved for Qualified institutional buyers (QIB).

Out of the total 37,84,000 equity shares on offer, not more than 17,97,000 equity shares have been reserved for Qualified Institutional Buyers (QIB). A total of 5,39,100 shares have been reserved for Non-Institutional Investors (NII) and the rest for retail individual investors.

In an interview with PTI, Ramdev assured his investors and public shareholders that there would be no impact of Patanjali Foods Ltd's (PFL) operation and financial performance and its growth trajectory will remain intact.

Equity markets were plagued by a host of issues this year including rising interest rates, slowing economic growth, Adani crisis and the latest fallout of the banking crisis in the US. Benchmark Nifty is currently 10% down from its peak.

It is not planning to seek a fresh approval for the IPO immediately from the Securities & Exchange Board of India because of the current choppy market. "We’re not in a hurry to go and, you know, sell it at any cost," managing director K Srinivas told ET.

According to analysts, the grey market premium, which indicates the premium commanded by shares in unlisted markets stoo Rs 20. The company has fixed a price band of Rs 133-140. At the upper end, the shares are expected to list at 14% premium over the issue price.

The ₹412-crore IPO comprised a fresh share issue of ₹180 crore and an offer for sale of 3.93 million shares by existing shareholders. As part of the offer for sale, Nilekani's family trust offloaded 1.44 million shares.

Global Surfaces, which is into processing natural stones and manufacturing engineered quartz, has collected Rs 46 crore from anchor investors and set a price band of Rs 133-140 per share. At the upper end of the price band, the company is expected to fetch Rs 155 crore from the IPO

The proceeds from the IPO will be used for funding additional working capital, investment in strategic acquisitions and other general corporate purposes.

The company's grey market premium is at 18, according to market analysts.The issue was subscribed 5.44 times, driven by strong interest from retail investors

The company has fixed a price band of Rs 133-140. The company plans to raise about Rs 154.98 crore at the upper end of the price band

Religare broking said the company has a strong opportunity in the international market and its new products and designs would aid growth and increase operational efficiency. The brokerage has a "neutral" rating on the public offer.

The price band for its initial public offering has been fixed at Rs 133-140 per share. Investors can bid for a minimum of 100 equity shares and in multiples of 100 equity shares thereafter

Global Surfaces will be open for subscription on Monday to raise funds through an initial public offering. The company will raise Rs 155 crore at the upper price band of the issue. The shares of the company will be listed on both NSE and BSE. The company will be offering 1,10,70,000 equity through the initial public offering through the book-building process.

The size of the IPO wasn’t disclosed. However, according to Krishna Raghavan, Founder, UnlistedKart, a SEBI-registered research analyst firm, Tata Technologies' recent buyback valued the company at Rs 16,080 crore, indicating that the offered size could be at least Rs 3,800 – Rs 4,000 crore.


The Flipkart IPO has been in the works since the last few years and it was earlier reported that the company is eyeing a listing on Wall Street

Under the IPO, Tata Motors intends to sell 81,133,706 shares of its subsidiary. Two other shareholders - Alpha TC Holdings and Tata Capital Growth Fund I - of the company are also selling shares in the offer.

The IPO is being launched by way of an offer for sale (OFS) of up to 95,708,984 equity shares, representing approximately 23.60% of its paid-up share capital.

The IPO comprises fresh issuance of 85.20 lakh equity shares and an Offer For Sale of up to 25.5 lakh equity shares by promoters Mayank Shah and Sweta Shah. The company said IPO proceeds will be used for investment in its arm Global Surfaces FZE for part-financing its capex requirements of setting up the manufacturing facility in Dubai and other general corporate purpo

Aakash Educational Services will issue convertible notes that will convert into equity at a discount of 20% to the listing price of the unit’s planned initial public offering

The part reserved for retail investors was subscribed 4.31 times, while non-institutional investors (NIIs) and qualified institutional buyers (QIBs) parts were subscribed 1.4 times and 7.83 times respectively. The shares are expected to be listed on the exchanges on March 14.

The preparations for the IPO are expected to be kick-started in the U.S. in the coming days, the sources said. The valuation range has not yet been finalized but Cambridge, England-based Arm is hoping to be valued at more than $50 billion during its share sale, the sources said

According to the draft papers, the issue with a face value of Rs 2 per equity share consists of a fresh issue of equity shares worth up to Rs 140 crore and an offer-for-sale (OFS) of up to 77,58,620 equity shares by Nutalapati Venkatasubbarao

However, the draft offer documents for the IPO were withdrawn on February 28 and the reasons for the withdrawal have not been disclosed, an update with the markets regulator showed on Monday

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