Investment Banks

Investment bank DAM Capital Advisors gets Sebi's nod to launch IPO

Investment bank DAM Capital Advisors has received Sebi's go ahead to float an initial public offering (IPO), an update with the markets regulator showed on Tuesday. The proposed IPO is solely an offer-for-sale (OFS) of 3.2 crore equity shares, with no fresh issue component, according to the draft red herring prospectus (DRHP). Those selling shares in the OFS are promoter Dharmesh Anil Mehta, investors Multiples Alternate Asset Management, RBL Bank, Easyaccess Financial Services and Narotam Satyanarayan Sekhsaria. Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than the company. DAM Capital Advisors, which filed preliminary papers with Sebi in September, obtained the regulator's observations on December 4, the update showed. In Sebi's parlance, obtaining the observations means its go ahead to launch the public issue. In its draft papers, the company stated that it plans to go public in a bid to achieve the benefit

Barclays profit jumps 18%, British bank reports pre-tax profit in Q3

The British bank's pretax profit for the July-September period was 2.2 billion pounds ($2.85 billion), up from 1.9 billion a year ago and higher than the average of analysts' forecasts of 2 billion

Morgan Stanley's Q3 profit beats estimates on investment banking windfall

Its investment banking revenue jumped 56% in the third quarter. Competitors Goldman Sachs had posted a 20% surge in fees, while JPMorgan Chase saw a 31% gain

BofA Q3 profit beats expectation on investment banking, trading strength

BofA's investment banking fees jumped 18 per cent to $1.4 billion, compared with a year earlier, bolstered by a rebound in activity in recent months

Sebi probes six local investment banks over handling of small IPOs

The investigations follow efforts by Sebi to warn investors about the dangers of investing in some small businesses as well as plans for tighter rules for such IPOS

Real estate firm Arkade Developers set to open Rs 410 cr IPO on Sep 16

Real estate developer Arkade Developers Ltd is set to float its Rs 410-crore initial public offering (IPO) on September 16. The initial share sale will conclude on September 19, and the bidding for anchor investors will open for a day on September 13, according to the red herring prospectus (RHP). The maiden public issue is entirely through a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale (OFS) component. The company has already raised Rs 20 crore through a pre-IPO placement round. Proceeds from the issue will be used for the development of the company's ongoing as well as upcoming projects and funding the acquisition of future real estate projects and general corporate purposes. Arkade Developers is a fast-growing real estate development company with a significant presence in Mumbai. As of July 31, 2023, it has developed 1.80 million square feet of residential property, including through partnership entities in which Arkade holds the majority stake. Betwe

National Infrastructure Trust files papers with Sebi for Rs 1,600 cr IPO

National Infrastructure Trust, an infrastructure investment trust sponsored by Gawar Construction Ltd, on Tuesday filed preliminary papers with the capital markets regulator for Rs 1,600 crore Initial Public Offering (IPO). The IPO comprises a fresh issue of units aggregating up to Rs 1,200 crore and an Offer For Sale (OFS) of units valued up to Rs 400 crore by the sponsor selling unitholder, according to the Draft Red Herring Prospectus (DRHP). Proceeds from the issue are proposed to be utilised towards providing loans to the project SPVs (Special Purpose Vehicles) for pre-payment of external borrowings, in part or in full from financial lenders and loans to project SPVs for repayment of unsecured loans availed by the project SPVs from the sponsor. The issue will be made through the book building process wherein 75 per cent, excluding the strategic investor portion, will be available to institutional investors and 25 per cent to non-institutional investors. The sponsor of the iss

JPMorgan raises $9 billion of bonds in post-earnings spree: Report

The deal comes after the bank reported record profit as investment bankers and equities traders smashed expectations and the firm took a multibillion-dollar gain tied to a Visa Inc. share exchange

Goldman Sachs appoints co-heads of investment banking business in India

The firm also announced that Sunil Khaitan has joined as head of financing in India. Reuters reported in April that Goldman hired Khaitan from Bank of America

Citigroup's profit climbs on investment banking surge, services strength

The upbeat results come two days after U.S. regulators fined Citi $136 million for making "insufficient progress" in fixing data management problems identified in 2020

JPMorgan Chase profit jumps to $18.15 bn on higher investment banking fees

Investment banks have benefited from a resurgence in capital-raising activity both in debt and equities markets

Morgan Stanley's first quarter profit rises as investment banking rebounds

Investment banking activity has rebounded from a two-year dealmaking drought as large corporates issued near-record levels of debt and equity capital markets became more active

Investment bankers lead the charge with Rs 1,000 crore record haul in Q1

Top performers poised for bonus payouts equalling 1.2x annual pay

JPMorgan sets up dedicated sports investment banking team, appoints heads

The bank has created a new "sports investment banking coverage group" which will offer advisory and financing solutions for activities like investing in sports franchises to clients globally

Co-founder Rakesh Gangwal to offload 3.3% stake in IndiGo via bulk deals

At present, the Gangwal family holds about 25.21 per cent stake in the company that operates the country's largest airline, IndiGo

Ather hiring investment banks for IPO this year, eyes raising Rs 3,300 cr

Ather competes with players such as Ola Electric, Bajaj, Ampere, Hero MotoCorp, and TVS Motor Company. It has been making efforts to achieve profitability as it prepares for the IPO

StanChart weighs break up of corporate, investment bank to improve returns

The London-listed bank has been weighed down in recent years, in part as it was forced to set aside more in reserves for souring loans tied to Chinese commercial real estate.

The listing dilemma

When deciding between listing in India and the US, founders should prioritise long-term considerations over listing price

Ethiopia opens up to foreign investment firms ahead of markets launch

The justice ministry authorised the capital markets regulator this week to go ahead with issuing the licences, said Brook Taye, Director General of the Ethiopian Capital Market Authority

We need to be mindful of responsible pricing: Kotak Investment Banking CEO

One takeaway from last year is that most IPOs returned money to the investors, S Ramesh, Managing Director and CEO, Kotak Investment Banking, said