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Economic Times
2 days ago
- Business
- Economic Times
FPIs exercise caution in Indian IPO market amidst volatility in 2025
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ET Intelligence Group: Foreign portfolio investors (FPIs) are treading cautiously in the domestic primary market amid high market volatility and the slower pace of initial public offerings (IPO), shunning the euphoria of have invested just over $1.8 billion (Rs15,864 crore) in IPOs in the calendar year till May, compared with $4 billion (Rs33,487 crore) in the same period a year calendar 2024, they pumped in a record $14.5 billion (Rs 1.2 lakh crore) as an all-time high of 178 companies raised primary equity through IPOs and qualified institutional placements (QIPs).So far in 2025, 15 companies have launched IPOs, nearly half the 29 that hit the primary market in the year earlier the aggregate ₹27,467 crore raised is almost at par with the ₹27,651 crore raised in the first five months of shows the average IPO size in 2025 so far has nearly doubled from last year. In 2024, over 80 companies had raised nearly ₹1.5 lakh crore through the IPO route, making it a record year for primary fundraising. "Compared with early 2024, FPIs were selling in the secondary market (between October 2024 and March 2025) because of a host of domestic and international uncertainties," said Arka Mookerjee, partner, capital markets, JSA Advocates & Solicitors. "That risk-off sentiment rubbed off on the primary market too."FPIs have become selective in the primary market, he said."In the past month, the primary market has seen FPI activity picking up especially in unique new-age tech companies where valuations are cheap, thanks to the stability in the secondary market. If it continues, foreign investors will be more encouraged to look at IPOs," Mookerjee contrast to the slack in the IPO market, FPIs showed heightened interest in the secondary market in May--their net investment at $2.1 billion was the highest in eight benefitted from the changing stance of foreign investors on emerging markets (EM).In May, emerging markets excluding China saw the largest net inflow since December 2023 of $13 billion, with almost every market in the plus column, noted Macquarie Capital in a report, adding that India, Taiwan and Brazil reported a strong and block deals worth ₹91,600 crore led by stake sales by investors in companies such as ITC and InterGlobe Aviation may have encouraged secondary market FPI line with their foreign counterparts, domestic funds also remained bullish in Indian equities. They invested a net ₹49,108 crore in May compared with ₹18,063 crore in the previous a revival in FPI flows in April and May, their net position in Indian equities remained negative in the first five months of 2025 due to the heavy selling between January and March. FPIs were net sellers to the tune of $10.6 billion (₹92,490 crore) in the first five months of 2025.
Time of India
2 days ago
- Business
- Time of India
FPIs exercise caution in Indian IPO market amidst volatility in 2025
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ET Intelligence Group: Foreign portfolio investors (FPIs) are treading cautiously in the domestic primary market amid high market volatility and the slower pace of initial public offerings (IPO), shunning the euphoria of have invested just over $1.8 billion (Rs15,864 crore) in IPOs in the calendar year till May, compared with $4 billion (Rs33,487 crore) in the same period a year calendar 2024, they pumped in a record $14.5 billion (Rs 1.2 lakh crore) as an all-time high of 178 companies raised primary equity through IPOs and qualified institutional placements (QIPs).So far in 2025, 15 companies have launched IPOs, nearly half the 29 that hit the primary market in the year earlier the aggregate ₹27,467 crore raised is almost at par with the ₹27,651 crore raised in the first five months of shows the average IPO size in 2025 so far has nearly doubled from last year. In 2024, over 80 companies had raised nearly ₹1.5 lakh crore through the IPO route, making it a record year for primary fundraising. "Compared with early 2024, FPIs were selling in the secondary market (between October 2024 and March 2025) because of a host of domestic and international uncertainties," said Arka Mookerjee, partner, capital markets, JSA Advocates & Solicitors. "That risk-off sentiment rubbed off on the primary market too."FPIs have become selective in the primary market, he said."In the past month, the primary market has seen FPI activity picking up especially in unique new-age tech companies where valuations are cheap, thanks to the stability in the secondary market. If it continues, foreign investors will be more encouraged to look at IPOs," Mookerjee contrast to the slack in the IPO market, FPIs showed heightened interest in the secondary market in May--their net investment at $2.1 billion was the highest in eight benefitted from the changing stance of foreign investors on emerging markets (EM).In May, emerging markets excluding China saw the largest net inflow since December 2023 of $13 billion, with almost every market in the plus column, noted Macquarie Capital in a report, adding that India, Taiwan and Brazil reported a strong and block deals worth ₹91,600 crore led by stake sales by investors in companies such as ITC and InterGlobe Aviation may have encouraged secondary market FPI line with their foreign counterparts, domestic funds also remained bullish in Indian equities. They invested a net ₹49,108 crore in May compared with ₹18,063 crore in the previous a revival in FPI flows in April and May, their net position in Indian equities remained negative in the first five months of 2025 due to the heavy selling between January and March. FPIs were net sellers to the tune of $10.6 billion (₹92,490 crore) in the first five months of 2025.
Yahoo
29-05-2025
- Business
- Yahoo
Effort to explore passenger train to Bangor derailed after senators leave bill in limbo
Passengers board an Amtrak train at the Harrisburg, Pennsylvania station. (Photo b y Peter Hall/Capital-Star) Despite the impassioned pleas of a handful of lawmakers, the Maine Legislature essentially killed a proposal to further explore extending passenger rail to Bangor. After multiple failed votes, the Senate decided Thursday to indefinitely postpone LD 487, which rail advocates rallied behind this session as a means to bring passenger trains beyond southern Maine. The House of Representatives rejected the proposal Tuesday with a 93-52 vote, but the upper chamber has been at an impasse since senators were divided over the measure. 'This has been indefinitely postponed for 20-plus years,' said Sen. Joe Baldacci (D-Penobscot) on the Senate floor Thursday, referring to the years-long effort to expand passenger rail in the state. This bill sought to have the Northern New England Passenger Rail Authority apply for federal funding to identify a potential passenger rail corridor from Portland through Auburn, Lewiston, Waterville, Bangor and ending in Orono. Among the members of the Legislature's Transportation Committee, only one supported it with the other 12 in opposition. During the House debate, Rep. Lydia Crafts (D-Newcastle), who co-chairs the Transportation Committee, admitted there is public interest in expanding mass transit in the state, but said LD 487 doesn't align with the state's rail plan. She argued it wouldn't make financial sense for the state to invest in the line and eventually subsidize the cost of tickets because a propensity study indicated that the particular route would have low ridership. Rather, she said that study recommended the state invest in flexible, accessible bus service such as the two-year pilot project currently underway, which runs between Lewison and Portland. Sen. Brad Farrin (R-Somerset) made similar points on the Senate floor, saying that the state will continue to grow rail at a 'reasonable and responsible' rate if it follows the plan it has in place. However, Rep. Tavis Hasenfus (D-Readfield), the bill's sponsor, said the propensity study is a couple years old and doesn't account for improvements that have since been made to those tracks, which could reduce costs for the state. He also said it didn't account for all potential riders, only those who would have taken a car. But talking about what the state would have to spend is getting ahead of what LD 487 sought to do, Hasenfus argued. As he explained on the House floor, his proposal simply asked the Department of Transportation to apply for the federal funding to investigate whether a passenger rail line to northern Maine is feasible. The proposal specifically asks for the state to apply to the Federal Railroad Administration's corridor identification and development program, which is part of the Bipartisan Infrastructure Law. Meeting the deadline for this application cycle is vital because the $1.2 trillion law isn't guaranteed to be renewed, especially since President Donald Trump issued an executive order on his first day in office pausing the disbursement of funds under the law. 'The train is literally about to leave the station and if we don't get on board now, we may never have the opportunity in the future,' Hasenfus said Tuesday. Cost shouldn't be the barrier that some see it as, Baldacci said during Senate floor discussions earlier this week, because the state should have been making passenger rail investments gradually over time. He said the whole state deserves to be connected and has a right to transportation options that already exist in southern Maine. LD 487 doesn't call for a significant financial investment by the state at this point, he said, it just asks lawmakers to utilize the options available to move the process forward. Rep. Karen Montell (D-Gardiner) spoke in support of the bill, arguing that increased train options could reduce greenhouse gas emissions and road maintenance costs. She said that passenger rail could help build a Maine that is more 'future ready.' Rep. Laura Supica (D-Bangor) agreed, saying that central and northern Maine could use passenger rail infrastructure so people can have easier access to jobs and education. She said this is especially true for her community of Bangor, which can feel like 'a bit of a vortex' and disconnected from the rest of the state. Hasenfus also cited a study the Rail Passengers Association published earlier this month that found extending the Amtrak Downeaster service to Bangor could generate more than $60 million in annual economic benefits for all 16 counties and draw more than 260,000 in the first year of service. Having ridden it multiple times himself, Sen. James Libby (R-Cumberland) called the Downeaster a 'tremendous service.' Though he acknowledged it could ultimately cost money, he said he supported the measure as expanded rail service would be an asset for towns like Waterville, where he works as a professor at Thomas College. SUPPORT: YOU MAKE OUR WORK POSSIBLE
TimesLIVE
07-05-2025
- Automotive
- TimesLIVE
Rivian and Lucid flag increasing costs as Trump tariffs bite
US President Donald Trump's administration introduced 25% tariffs on imported vehicles and car parts. Last week, Trump signed two orders to soften the blow, with a mix of credits and relief from other levies on materials. In the face of uncertainty, several carmakers, including Tesla, have also said they were reassessing their full-year targets. Rivian on Monday said it would invest $120m (R2,182,770) to bring its key parts suppliers near its plant in Illinois as it prepares to produce its smaller, more affordable R2 SUVs next year. Lucid is also gearing up to launch a midsize vehicle with a target price of about $50,000 (R909,487) next year. However, Winterhoff said Lucid might start production of the vehicle in Saudi Arabia, a major market for and an investor in the EV maker, instead of the US, given tariff costs, though that plan was not final. A successful rollout of affordable vehicles is seen as critical for the two EV makers. Lucid and Rivian reported smaller-than-expected losses on an earnings-per-share basis in the first quarter as they doubled down on slashing costs. Rivian, which is also benefiting from a $5.8bn (R105,509,256,960) software joint venture with Volkswagen, reported a gross profit of $206m (R3,747,356,155) and stuck to its target of modest gross profit this year. The company, however, increased its forecast for capital expenditures for the year to between $1.8bn (R32,763,777,480) and $1.9bn (R34,583,990,000), as tariffs hurt its plant expansion costs, from between $1.6bn (R29,138,640,000) and $1.7bn (R30,966,604,320) predicted earlier.
Express Tribune
03-03-2025
- Business
- Express Tribune
Market correction ends as yellow metal hits Rs301,500
Gold prices in Pakistan increased on Monday, reflecting the rise in international rates. In the local market, the price of gold per tola climbed by Rs1,500, reaching Rs301,500, while 10-gram gold was sold at Rs258,487 after an increase of Rs1,286, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This rise follows a decline of Rs500 per tola on Saturday, highlighting the volatility in gold prices. Internationally, gold also witnessed an increase, with its rate reaching $2,869 per ounce (including a $20 premium), marking a $12 gain during the day. According to Adnan Agar, Director of Interactive Commodities, gold prices had recently seen a correction, which was expected. On Friday, the price hit a low of $2,832 per ounce before closing at $2,871.50. The market rebounded on Monday, rising to $2,882 and reaching a daily high. Agar suggested that gold might bounce back towards $2,900, but resistance is expected at that level. If the price sustains above $2,900, further upward momentum could push it towards $3,000. However, if it remains below this threshold, there is a possibility of further correction, potentially bringing gold down to $2,880 or even $2,850. The closing price in the coming days will be crucial in determining gold's next movement. If it closes above $2,950, a strong upward trend could develop. However, if it stays below, there is potential for further declines before another upward push. Globally, gold prices rose on Monday after a slump to a three-week low in the previous session, driven by a weaker dollar and safe-haven buying in response to concerns over US President Donald Trump's tariff policies. Spot gold gained 0.5% to $2,873.11 an ounce as of 1429 GMT. US gold futures rose 1.3% to $2,884.50. The dollar index dropped by 0.8%, moving away from a more than two-week high hit in the previous session, reflecting weakness that makes dollar-priced gold less expensive for buyers holding other currencies.
