Goodwill  Investor Education Initiative :  GoodWill  Eagle’s Eyes!

IPO boom 2021: Experts analyse growth capital versus Investors’ interest.

Initial public offering (IPO) boom is the big theme that analysts are tracking and the current cycle of listings is clearly set to change the texture of the capital markets. Nearly 30 companies, some data show, have raised about Rs 45,000 crore in this particular calendar year so far and the pipeline of the upcoming IPOs is also looking very encouraging.

However, there is always a question worth looking at when it comes to the fundraising by the corporates – is the intention for growth capital driven for companies or exit by the existing investors like Promoters, their friends and relatives and of course VCs -is a moot question.

Good news:  Jet Airways starts hiring senior executives as preparation to resume operations

Even as new players such as Rakesh Jhunjhunwala are trying their luck and betting big money on the Indian aviation sector, old airlines are trying to make a comeback. It is  learnt that one month after receiving approval from the National Company Law Tribunal (NCLT) Jet Airways has started hiring senior executives as a preparation to resume operations.

The company, it is learnt, has hired GM Human Resources, Accountable Manager and other senior officials for key departments. The company also expects to start receiving slots at airports in about 30 to 45 days.

The NCLT on June 22 had approved the Jalan Kalrock Consortium’s resolution plan for Jet Airways, which had been undergoing an insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.

The consortium had proposed a total cash infusion of Rs 1,375 crore, including Rs 475 crore that will be used for payment to stakeholders, including financial creditors

Madras HC orders CCI to probe cartelisation charges against steel producers

The Madras High Court has asked the Competition Commission of India (CCI) to investigate allegations of cartelisation against steel makers.

The petitioners have alleged that big steel producers like Tata Steel, JSW Steel, SAIL and others are engaging in cartelisation and creating artificial scarcity to inflate prices.

It is  reported that the plea argues that there has been an increase of 55 percent in prices over the past 6 months with no noticeable increase in cost of power or cost of labour. The court has given CCI 120 days to look into these charges.

The steel producers will have the option of appealing against the order before a division bench of the court.

So investors are advised to calibrate their long positions in the steel sector in view of this HC notice and act accordingly.

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