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NSE IPO set to create windfall for LIC, SBI, Radhakishan Damani, other key shareholders
NSE's IPO, filed on June 17, is set to unlock significant shareholder value with an estimated ₹30,000 crore offering. Major stakeholders include LIC and SBI. This historic Offering for Sale will not result in new shares or funds for the exchange.
Listed NSE shareholders gain: LIC, NIACL, others rise after exchange files IPO DRHP - Moneycontrol.com
Listed NSE shareholders gain: LIC, NIACL, others rise after exchange files IPO DRHPMoneycontrol.com
A 70-year-old law and a 10% stake: What keeps LIC invested in NSE
NSE IPO: Maintaining a significant stake in the exchange works in LIC's favour, granting it the power to hold a director's seat on the company's board
NSE to file IPO by this week? IFCI shares rally 8% to record high; LIC, SBI, other stocks rise up to 2%
IFCI shares surged to a fresh 52-week high amid expectations that NSE could file its IPO papers this week. Investors cheered IFCI's indirect exposure to the exchange through Stock Holding Corporation, while optimism around NSE's potential listing boosted sentiment.
Rupee appreciates for 3rd straight day on easing West Asia tensions
The rupee appreciated for the third straight session on Tuesday to close 5 paise higher at 94.53 (provisional) against the US dollar, supported by easing West Asia tensions and extended fall in crude oil prices. Forex traders said that with the reported de-escalation of the US-Iran conflict and diplomatic agreements regarding the Strait of Hormuz, the immediate threat to global energy supplies has significantly reduced. Moreover, softening of the US dollar and a decline in US treasury yields also supported the USD/INR pair, they said. At the interbank foreign exchange, the rupee opened at 94.69 against the US dollar and traded in the range of 94.48-94.71. Eventually, it settled at 94.53 (provisional), up 5 paise from its previous close. "We expect the rupee to trade with a positive bias as global markets cheer the US-Iran deal, which has boosted global risk sentiments. Declining US dollar and falling crude oil prices may further support the rupee. "Easing inflation concerns and ..
Sebi proposes changes to ETF trading norms
The Securities and Exchange Board of India (Sebi) has proposed significant changes to the trading framework for Exchange-Traded Funds (ETFs). These reforms aim to enhance price discovery by introducing dynamic price bands and a new base price determination methodology. A pre-open call auction mechanism for commodity ETFs is also planned to better align trading limits with underlying asset movements.
SEBI revises ETF framework to improve price discovery — key details here
SEBI has introduced a revised framework for exchange-traded funds, bringing in dynamic price bands, new base price calculations and a pre-open auction mechanism aimed at improving price discovery and investor protection.
Long-awaited NSE IPO set to advance; draft papers likely next week
The long-awaited initial public offering (IPO) of the National Stock Exchange (NSE) is set to move a step closer, with the country's largest stock exchange expected to file its preliminary papers with Sebi next week, people aware of the matter said. This comes after NSE's board approved the proposed IPO on February 6, following receipt of Sebi's no-objection certificate (NOC). The public issue will be entirely an offer for sale (OFS), with no fresh issue component. According to people familiar with the development, the draft red herring prospectus (DRHP) is likely to be filed on June 15 or June 16. The exchange has a broad-based shareholder base comprising domestic financial institutions, insurance companies, foreign investors and individual shareholders. Life Insurance Corporation of India (LIC) is the single largest shareholder in NSE, holding a 10.72 per cent stake. State Bank of India (SBI) and its subsidiary, SBI Capital Markets, together own around a 7.5 per cent stake in t
India's forex reserves drop $711 mn to $681.610 bn: RBI data
India's forex reserves dropped USD 711 million to USD 681.610 billion during the week ended June 5 due to a sharp decline in foreign currency reserves, the RBI said on Friday. In the previous reporting week, the overall reserves had jumped USD 938 million to USD 682.321 billion. For the week ended June 5, foreign currency assets -- a major component of the reserves -- was down USD 2.704 billion to USD 543.444 billion, the data released by the Reserve Bank of India (RBI) showed. Expressed in dollar terms, foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. However, the value of gold reserves increased USD 1.975 billion to USD 114.575 billion during the week, the RBI said. The special drawing rights (SDRs) were up USD 18 million to USD 18.765 billion, the RBI said. India's reserve position with the IMF stood at USD 4.826 billion in the reporting week, it added.
Dhan launches US stocks, ETFs investing for Indians via GIFT City route
Trading and investing platform Dhan on Friday launched investment access to US-listed stocks and exchange-traded funds (ETFs) for Indian investors through the GIFT City framework. The offering is being provided through Raise IFSC Private Limited, Dhan's wholly-owned subsidiary and a member of India INX operating under the regulatory framework of the International Financial Services Centres Authority (IFSCA). In a statement, the company said Indian investors can now invest in stocks listed on the Nasdaq and NYSE through the Dhan app under a structure aligned with RBI and FEMA requirements. Dhan has partnered with ViewTrade for brokerage services and GlomoPay for payment technology services to facilitate investments in US securities. The platform will not charge account maintenance or custody fees, while brokerage has been fixed at 0.25 per cent of the transaction value. Investors will also have access to features, such as systematic investment plans (SIPs) in US stocks and ETFs, su
Why Bajaj Finserv AMC is bullish on banks, NBFCs and the Indian market
Nimesh Chandan, Chief Investment Officer at Bajaj Finserv AMC, said the recent correction has created opportunities in select gold financing companies. However, the fund house remains relatively cautious on jewellery stocks and is more constructive on gold financiers from a long-term perspective.
Gold loses shine? ₹725 crore exits Gold ETFs - Should mutual fund investors be worried?
Gold ETFs experienced a net outflow of ₹725 crore in May, marking the first month of redemptions after 13 months of inflows. Despite this, experts suggest the market sentiment towards gold remains intact, viewing the trend as a result of profit booking. Silver ETFs also faced continued outflows.