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Business Standard
31 minutes ago
- Business Standard
Minister Sonowal to inaugurate Bimstec ports conclave in Vizag on July 14
Union Minister Sarbananda Sonowal will inaugurate the second Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) ports conclave in Visakhapatnam on July 14. The two-day event, to be held until July 15, aims to enhance regional maritime cooperation under the BIMSTEC framework, said an official press release. "BIMSTEC enhances regional unity through maritime cooperation and trade connectivity, said T Venu Gopal, secretary, Visakhapatnam Port Authority. During his visit, the Union Minister of Ports, Shipping, and Waterways is also expected to inaugurate completed development projects and lay foundation stones for upcoming port infrastructure. Themed Navigating the Future: Blue Economy, Innovation & Sustainable Partnerships', the conclave will bring together ministerial delegations, port authorities, maritime experts, and business leaders from BIMSTEC member countries. Delegates from Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and Thailand have arrived, along with chairpersons and senior officials from major Indian ports, the release added. The event will feature keynote addresses by prominent BIMSTEC representatives, Indian officials, and technical experts, focusing on port infrastructure, innovation, and sustainable development. The conclave is expected to boost Visakhapatnam's position as a strategic maritime hub and strengthen BIMSTEC cooperation in shipping and logistics, Gopal added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
an hour ago
- Time of India
Union Minister Sonowal to inaugurate BIMSTEC ports conclave in Vizag on July 14
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Union Minister Sarbananda Sonowal will inaugurate the second Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) ports conclave in Visakhapatnam on July two-day event, to be held until July 15, aims to enhance regional maritime cooperation under the BIMSTEC framework, said an official press release."BIMSTEC enhances regional unity through maritime cooperation and trade connectivity," said T Venu Gopal, secretary, Visakhapatnam Port his visit, the Union Minister of Ports, Shipping, and Waterways is also expected to inaugurate completed development projects and lay foundation stones for upcoming port 'Navigating the Future: Blue Economy , Innovation & Sustainable Partnerships', the conclave will bring together ministerial delegations, port authorities, maritime experts, and business leaders from BIMSTEC member from Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and Thailand have arrived, along with chairpersons and senior officials from major Indian ports, the release event will feature keynote addresses by prominent BIMSTEC representatives, Indian officials, and technical experts, focusing on port infrastructure, innovation, and sustainable development The conclave is expected to boost Visakhapatnam's position as a strategic maritime hub and strengthen BIMSTEC cooperation in shipping and logistics, Gopal added.
Indian Express
an hour ago
- Indian Express
IPO boom: 162 companies eye Rs 2.4 lakh crore in record fundraising drive
Driven by strong economic fundamentals and rising interest from retail investors, India's IPO market is heading for a busy second half of 2025. Nearly 162 companies—including big names like LG Electronics and Tata Capital Ltd—are preparing to hit the markets, collectively aiming to raise a record Rs 2.4 lakh crore through public offerings. Experts say this fundraising spree is unlike anything the capital market has seen before and comes at a time when stock markets have stabilised and geopolitical tensions in the Middle East have eased. As of the end of June 2025, 71 companies had secured approval from the Securities and Exchange Board of India (SEBI) to launch their IPOs, with plans to collectively raise around Rs 1.14 lakh crore, according to data from Prime Database. Among them, LG Electronics India — a fully owned subsidiary of South Korea's LG Electronics and a key player in home appliances and consumer electronics — is eyeing a Rs 15,000 crore offering. Several companies are lining up for IPOs as India's primary market continues its strong momentum. Among them, Dorf Ketal Chemicals India and Credila Financial Services Ltd are each planning to raise Rs 5,000 crore. Other major IPOs in the pipeline include JSW Cement and SMPP Ltd, targeting Rs 4,000 crore each. Hero Fincorp is looking to raise Rs 3,668 crore, while National Securities Depository Ltd (NSDL) and Continuum Green Energy Ltd aim to raise Rs 3,400 crore and Rs 3,650 crore, respectively. Anthem Biosciences Ltd is set to open its Rs 3,395 crore IPO for public subscription on Monday, July 14. The IPO market remains active with 90 companies having filed their Draft Red Herring Prospectus (DRHP) with SEBI in the current calendar year, up to July 2, 2025. These companies are awaiting regulatory approval to go public. Together, they aim to raise a total of Rs 1.17 lakh crore, according to data from Prime Database. Tata Capital Ltd has the largest proposed issue, seeking to raise Rs 17,200 crore through a primary market share sale. Other significant IPOs include Meesho Ltd at Rs 4,250 crore, PhysicsWallah Ltd and Orkla India Pvt Ltd with Rs 4,000 crore and Rs 3,200 crore respectively, while Juniper Green Energy and Tenneco Clean Air India Ltd are looking to raise Rs 3,000 crore each. Just last week, ICICI Prudential Asset Management Company, India's second-largest asset manager, filed draft papers with SEBI for a massive Rs 10,000 crore IPO. 'The IPO pipeline is the largest it has ever been in the Indian market. Unless there is major negative news flow, I expect a very strong second half of the year,' said Pranav Haldea, Managing Director at Prime Database Group. Out of the 71 companies that have already received SEBI's approval to launch their IPOs, 18 were cleared in 2024 but have still not gone public, leading to questions about their plans. According to a market source, these companies may have received lukewarm feedback about the potential success of their IPOs. 'It's also possible they explored the grey market response and decided it wasn't strong enough to move forward,' the source said. Haldea attributes this delay to potential valuation mismatches, investor feedback, or strategic shifts within the companies. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, pointed out that after markets hit an all-time high in September 2024, a correction of nearly 20 per cent followed. 'When there's a 20 per cent correction from peak levels, companies with IPO approvals become cautious and prefer to wait for more favourable conditions. That's why, despite approvals, many are holding back,' he said. Despite geopolitical uncertainties, India's IPO market remained resilient in the first half of 2025. Up to July 2, a total of 25 companies raised over Rs 46,000 crore. Among the major issuances was HDB Financial Services, which raised Rs 12,500 crore in June, marking the largest IPO by a non-banking finance company and the biggest since Hyundai Motor India's Rs 27,870 crore IPO in 2024. The surge in IPO activity during January–June 2025 has been supported by strong macroeconomic fundamentals, a stable stock market, low inflation, favourable monetary and fiscal policies, IPO-friendly reforms, and growing retail investor participation. 'Primary markets tend to mirror the mood in secondary markets. With buoyancy returning since April, we've seen a noticeable uptick in IPO activity in recent months,' Haldea added. SimranJeet Singh Bhatia, Senior Equity Research Analyst at Almondz Global Securities Ltd, said India's macroeconomic indicators remain solid, with GDP growth at 6.5 per cent in FY25 and expected to stay above 6 per cent in FY26, despite global headwinds and uncertainty over U.S. President Donald Trump's new tariffs. In May, domestic retail inflation eased to 2.82 per cent, the lowest in over six years. GST collections in June grew by 6.5 per cent year-on-year, crossing Rs 1.80 lakh crore for the second consecutive month. Bhatia noted that this easing inflation prompted the RBI to cut the repo rate by 50 basis points to 5.5 per cent, which has restored foreign investor confidence and boosted both equity and IPO markets. Looking ahead, experts believe the IPO market in 2025 could reach record levels, fuelled by renewed investor confidence, a healthy economic outlook, and the expected listing of several high-quality companies. 'We anticipate continued momentum in the IPO space, driven by companies with strong financials and attractive valuations. Some of the major upcoming listings include NSDL, Tata Capital, Canara Robeco AMC (by Canara Bank), Hero Fincorp, LG Electronics, and Prestige Hospitality (by Prestige Estates),' Bhatia said.
