The detente between the Ambani brothers which lead to the rescinding of the non-compete agreement has resulted in Reliance Industries  Ltd (RIL) being the biggest Winner in the win-win arrangement.While on one hand Anil Ambani’s Reliance Communication which was facing a liquidity problem has benefited by being free to sell a stake in the company,Mukesh […]

Life Insurance Corporation (LIC) has requested India’s stock market regulator SEBI for price secrecy during Initial Public Offerings (IPO) and Follow on Public Offerings (FPO)s. The ostensible reason given is that the price discovery mechanism during the IPO and FPO lets investors bidding during the end of the bidding process an advantage.A specious argument in […]

An In Depth Review of Standard Chartered IDR revealed that its was heavily disadvantageous for retail investors  and that’s what the final subscriptions numbers  of the IDR listing proves as well .The Retail Portion was subscribed only by 25% –  a resounding “no-confidence of StanChart IDR” which was ostensibly done to raise the public profile […]

Standard Chartered Indian Depositary Receipt (IDR) remains 90% unsubscribed till the last day of the issue.In the first 3 days it has managed to get subscription for only 10% of it issue size of  240 million Indian Depositary Receipts .That should be surprising for the issuers considering it has hired Seven Investment Banks (Goldman and […]

I had earlier written about Seven Reasons for Not Subscribing to the Standard Chartered IDR based on a high level analysis.Going through the massive 811 page Red Herring Prospectus has reinforced by earlier thesis –  that subscribing to the StanChart IDR is not a great idea .In my opinion it would be a very bad […]

Indian mega industrial groups led by Ambani brothers decided to rescind their non-compete agreement which allows oil and petrochemical giant Reliance  to enter the financial,telecom and power sectors.This deal is much more beneficial to Mukesh Ambani led Reliance Group then Anil Ambani’s led ADAG Group.This deal came about after ADAG lost a gas supply dispute […]