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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Frequent share sales coinciding with price peaks and big dividend demands even when cash is short threaten the interests of the mining giant and its investors.
Back in October 2010, I, like many other Indian equity enthusiasts, applied for Coal India Ltd shares in its landmark IPO. Expectations ran high among speculators anticipating big listing day gains and longer-term investors looking to be part of the rare profitable public sector enterprise, lording over an important sector with a near-total monopoly. Not that it matters, but I wasn’t allotted any shares.
The IPO was oversubscribed an eye-watering 279 times, with pricing at Rs 245 a share, which meant the government netted nearly Rs 15,500 crore—remember, the entire IPO was an “offer for sale”. The shares listed on …
A month on, CAS has only amplified volatility, manipulation and confusion rather than containing them.
Many of its 186,000 eligible shareholders are unlikely to sell their stock in the upcoming offer-for-sale—opting to resist formal price discovery and wait it out instead.
Mukesh Ambani’s $10-billion bet faces a harsh reality: much of the clean-energy stack still sits overwhelmingly in Chinese hands.
