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"Investment bankers need to play a very mature role in this environment: the guardianship of market fidelity rests on their shoulders. While they have a duty to get the maximum value for the companies they list, they equally have to ensure that that value is viable and stable," said Utkarsh Sinha, MD, Bexley Advisors.
In its board meeting on Tuesday, the Securities and Exchange Board of India (SEBI) approved several measures related to initial public offers (IPOs). Among the reforms passed by the markets regulator today were the ones related to utilisation of issue proceeds, disclosure, lock-in provisions, preferential issues and more.
"The management has reviewed the asset quality and performance of investments in respect of real estate, loans, investments, other fixed assets etc and adequate provision for impairment/diminution in value of investments/assets have been provided for wherever necessary," the annual report said.
OYO's exponential growth nearly came to a halt due to the pandemic. However, it used the downtime to rebuild itself, or 'fix nets like fishermen do, while waiting for storm to pass' as described by its founder and Group CEO, Ritesh Agarwal.
FPI investments in Indian IPOs reached a record $10.8 billion or Rs 79,851 crore during the year, as per data from NSDL. These inflows amounted to $9.7 billion or Rs 71,718 crore in the year 2020, according to a report in Economic Times. Due to this, FPI were net buyers in Indian markets, pouring in $3.9 billion, despite relentless selling $6.8 billion in secondary markets in the second half of the year.
Supriya Lifescience shares made a strong debut on Tuesday, December 28, amid positive market sentiment. Shares of the active pharmaceuticals ingredients (API) manufacturer opened on the BSE at ₹ 425 apiece - a premium of 55.1 per cent or ₹ 151 higher than the issue price of ₹ 274. On the NSE, Supriya Lifescience shares were listed at ₹ 421 apiece - a premium of 53.7 per cent.