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Major IPOs on Horizon with LG India and Vishal Mega Mart Leading the Pack
Dalal Street is set for a vibrant IPO season with 15 companies, including LG Electronics India, Vishal Mega Mart, Mobikwik, and Canara Robeco AMC, planning listings in December and early January 2025. These public issues aim to raise nearly Rs 20,000 crore, featuring a mix of fresh equity issuances and offers for sale across various sectors, from retail to fintech.
Canara Bank Receives RBI Approval for IPOs of Two Subsidiaries
Canara Bank has received approval from the Reserve Bank of India to proceed with initial public offerings for its subsidiaries, Canara Robeco Asset Management Company and Canara HSBC Life Insurance Company. The bank plans to divest a 13% stake in Canara Robeco AMC and a 14.5% stake in Canara HSBC Life Insurance, with a directive to reduce its holdings to 30% by October 31, 2029. Over the past year, Canara Bank's share price has increased by approximately 24%, raising its market capitalization to over Rs 98,000 crore.
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