What's New
- Uday Kotak raises Infina Finance stake via family trust as Kotak Group trims holding
Billionaire banker Uday Kotak has increased his stake in Infina Finance Private Limited through his family trust, KF Trust, acquiring an 8.99% stake for Rs 375.35 crore.
- Mega IPO Wave: SBI Funds and Manipal Hospitals ready DRHP filings
SBI Funds Management and Manipal Hospitals are gearing up to file their draft IPO prospectuses by the end of March, aiming for combined fundraising exceeding $1 billion. SBI Funds' issue is expected to be an offer for sale worth ₹12,000-13,000 crore, potentially valuing the asset manager between ₹1.3-1.5 lakh crore.
- RIL appoints 17 bankers for a potential Rs 40,000 crore Jio Platforms IPO
Jio Platforms has appointed 17 investment banks, including global giants, to manage its upcoming IPO, signaling the formal start of preparations for what could be India's largest-ever listing. This move follows regulatory clarity on minimum public shareholding norms, allowing companies with high valuations to list with a lower initial float.
- Jio tells bankers it may file IPO prospectus as early as March
Reliance Industries Ltd. is preparing to file a draft red herring prospectus for its telecom unit, Jio Platforms Ltd., by the end of this month. The company has appointed 17 bankers to manage the potential IPO, which could be India's largest ever.
- India reduces minimum public share float, paving way for NSE, Jio listings
The regulator last year proposed to halve the minimum amount of shares large companies had to offer in their IPOs, allowing those valued at above 5 trillion rupees ($57 billion) after listing to sell just 2.5% of their paid-up capital.