State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
Experts say the robust filing suggests the second half of the year will see large-scale issuances, provided the markets remain supportive.
Promoters of India's top private listed companies have cut their stakes sharply since 2021, taking advantage of elevated valuations and reshaping ownership dynamics in the market. Holdings of promoters in the top 200 privately owned listed firms declined nearly 600 basis points (bps) to 37 per cent at the end of FY25, from 43 per cent in FY21.
Sebi's probe against Jane Street is part of its efforts to mitigate losses for individual derivative traders.
About 2.2 million new dematerialised (demat) accounts were opened in May, raising the total to 196.6 million as stock prices continued their upward trend.
The interplay between domestic and foreign capital will shape India's equity markets.
Without changes to the taxation rules, buybacks are expected to remain scarce.
Indian equity benchmarks rose nearly 2 per cent on Thursday, capping a truncated trading week with their strongest weekly performance in over four years. The rally was sparked by renewed risk-on sentiment following progress in trade negotiations and expanded tariff exemptions.
Industry players said the sharp sell-off in February forced many companies to put off their listing plans
Fundraising by Indian companies through equity and debt reached an all-time high in the financial year 2024-25 (FY25), according to data collated by primedatabase.com. Fundraising through debt stood at Rs 11.1 trillion in FY25, including contributions from InvITs (infrastructure investment trusts) and REITs (real estate investment trusts).
The equity benchmark indices posted their strongest weekly gains in years, driven by bargain hunting and optimism over a reversal in foreign portfolio investor (FPI) outflows. The Sensex rose 558 points, or 0.7 per cent, on Friday to close at 76,906, while the Nifty 50 gained 160 points to end at 23,350. Over the past five sessions, both indices advanced around 4.3 per cent - marking the Sensex's best weekly performance since July 22, 2022, and the Nifty 50's strongest rally since February 5, 2021.
Since October, FPIs have offloaded Indian equities worth Rs 2.1 trillion.
618 companies were part of the billion dollar club when the markets reached all-time highs on September 26, 2024. That number has fallen to 500 following a $1 trillion wipeout in India's market capitalisation amid relentless selling by FPIs.
'Even if India is attractive, FPIs currently lack the funds to invest, as money is being redirected to the US.'
Shares worth over Rs 50,000 crore (or approximately $6 billion) are set to become freely tradable between now and April 10. Historically, such substantial volumes have been absorbed by a buoyant block-deal market.
The last time this happened was in 1996.
On average, stocks that debuted last year are down 37 per cent from their peak levels.
'Expect FPIs to continue selling for several months until the rupee stabilises.'
Rupee depreciation, if it continues, will likely pull the markets down further. Since September 2024, the rupee has declined by 3.1 per cent, the Nifty has dropped by 8.5 per cent during the same period, and the Sensex has fallen by 7.3 per cent. If the decline continues, markets will need to brace for more pain as it could push foreign portfolio investors (FPIs) to exit their positions faster than anticipated.
The markets need not tank every time the rupee depreciates sustainably over months.