a outing, a tour ,a picnic, check for discount coupons on FREE GIFTS TO HOME before buying a package.
A tour package of Rs. 35000 costs only Rs. 12000 after applying the discount coupon code. We don't sell tour packages but still can be of some help.
Mobile or DTH, please check the offer on FREEGIFTS TO HOME before doing it through some other medium. A recharge of Rs. 20 costs only Rs. 12 after application of Discount Coupon provided on these site.We don't sell recharges but still can be of some help
a laptop, desktop, or may be some electronic product. Try the offer on FREE GIFTS TO HOME before buying it from any other site or place. A 16 GB pendrive of Rs. 900 costs only Rs. 349 after application of Discount Coupon.We don't sell PEN DRIVE but still can be of some help
A health drink, a medicine, a health product. Check for Discount coupon code on FREE GIFTS TO HOME before ordering it from anywhere else. A 1 kg Dabur Chawanprash of Rs. 240 costs only Rs. 140 after application of Discount Code.We don't sell Chawanprash but still can be of some help
A new dress, t-shirt, top or jeans. Check for the free trial offers of different brands on FREE GIFTS TO HOME before buying it from anywhere else. Most of the branded products offers free trial for new customers.We don't Endorse any brand but still can be of some help
While Nargis Fakhri is all set to celebrate her first Holi in India, Veena Malik is in love with the concept of the festival. Here's what Bollywood celebs are planning to do on Holi.
Nargis Fakhri
I have never played Holi in my life, but now that I am here (in India), I think I’ll surely attend a Holi party. The enthusiasm around the festival is quite exciting. I have heard that people are bombarded with colours on this day and there are water balloon fights too. Sounds fun! But I need to protect myself and will apply lots of coconut oil in my hair and maybe, on my face too.
Veena Malik
I have always lived in Pakistan and had only heard about Holi. For the first time, I played Holi last year and really enjoyed it, so I’m going to celebrate it this year too. I really like the concept of the festival since I am a very colourful person. I’ll eat, play and have a good time with my friends here in Mumbai.
Anushka Sharma
I love Holi but this time, I’m going to be out of Mumbai to shoot for my upcoming film, Matru Ki Bijlee Ka Mandola. My most memorable Holi is the one which was my brother’s first Holi. He was very scared and I was like a protective elder sister, who didn’t let him get hurt. In the subsequent years however, he became sabka baap in playing Holi tricks.
Kunal Kapoor
I really enjoy Holi and have some wonderful memories attached to it. It’s one of my favourite festivals. I love celebrating it with close friends and family. But this year, unfortunately, I am travelling, so I am going to miss out on celebrating it with my my loved ones. I would like to wish everyone a happy Holi.
Kajal Agarwal
As a kid, I always went to Maker Towers (Cuffe Parade, Mumbai) and played Holi with friends and cousins. We played with water balloons, eggs, water guns, and I remember swimming in a pool of colour. At times, we even used cement on each other. This year, I will celebrate Holi in Delhi with friends and family.
ONGC shares dipped 1.9% as a last minute bid by Life Insurance Corporation, the state-owned insurer, helped complete the process. The total planned sale was 42.77 crore shares. LIC is believed to have invested close to Rs 4,000 crore. The auction for the shares will help the government raise over Rs 12,000 crore. The sale of ONGC shares is part of the government's divestment programme.
Here are 10 facts on the ONGC auction:
1) At market close, bids were received for 29.22 crore shares, according to ONGC chairman Sudhir Vasudeva. The company's share price dipped 1.8 per cent after gaining 1 per cent in early morning trade. In an auction, bidding typically intensifies towards the end of the trading session. A Reuters report said that State Bank of India, the largest public sector bank, could bid in for ONGC shares. Sources told NDTV Profit that LIC has helped the government complete the entire auction process.
2) This is the biggest equity offering this year. The government could hope to get Rs 12,400 crore if the issue is priced at Rs 295 per share. The auction for 42.77 crore shares started at 09:15 am and ended at 3.30 pm. The floor price was set at Rs 290 per share. The minimum bid quantity was one share (lot size of one share). Citi, JM, Nomura, DSP ML, Morgan Stanley and HSBC Securities are the investment bankers for the deal.
3) The government sold a part of its stake in ONGC to meet its divestment target of Rs 40,000 crore. The government is widely expected to miss its deficit target of 4.6 per cent of GDP for the current fiscal year ending March, partly due to its inability to meet the budget target for more than Rs 40,000 crore in state-company share sales. So far this fiscal year, the government has only raised about Rs 1,250 crore.
4) The government had earlier planned to sell ONGC shares through a public offering but that plan was scrapped last October after tepid response from investors amid weak equity markets. India's stock market posted its first annual fall in three years in 2011, losing nearly 25 percent. Shares in ONGC fell 20 percent in the same period. But the stock market has rebounded in 2012 and the BSE Sensex has climbed nearly 15 percent, with foreign funds scooping up beaten shares worth more than $7 billion.
5) There was no scope for retail investors to participate. That is because there was no discounts and reservation for retail investors. Normally, 35 per cent of the shares in a public offer are reserved for small investors. "The only disappointment would be on the retail side because retail investors would not be able to participate... Usually retail investors get a discount but that's not happening," RS Sharma, Former CMD of ONGC told NDTV Profit on Wednesday.
6) Big foreign funds, including sovereign funds from Abu Dhabi and Kuwait, had assured the government that they would buy the 5% stake, according to reports. Funds from Singapore and London reportedly also informally underwrote the stake sale. Life Insurance Corporation (LIC) was also expected to bid in today's auction, according to the market buzz.
7) This is the first stake sale being done via auction route. Only last month, the Securities & Exchange Board of India (Sebi) allowed shareholders of the country's top 100 companies by market value to raise funds by auctioning their stakes through stock exchanges. Bankers said while investors would be able to participate in the auction in the same way as in the previously used follow-on share offering, the owner of a company would save significant cost and time in the auctioning process.
8) How does the auction work: Multiple orders from a single buyer shall be permitted. The indicative price & cumulative bid quantity shall be made available on exchanges at regular intervals. Allocation will be intimated to the bidding broker on T+1 basis. Stock exchanges will collect 100% of the order value in cash. No single bidder other than MFs & insurance companies will be given more than 25 per cent shares.
9) Valuation: Rs 290 was a very good price. The stock was valued at Rs 330 on 2013 earnings per share (EPS), which is 9-times FY 13 price earnings, Sanjiv Prasad, Executive Director and Co-Head of Kotak Institutional Equities told NDTV Profit yesterday. The multiples can be re-rated to 10-11- times given the optimistic outlook in the markets, he added. However, the market has not accepted this argument.
10) A successful auction in ONGC shares will pave the way for divestment in other public sector companies like heavy engineering goods firm BHEL and steel major SAIL.
(With inputs from Reuters)
For NDTV Updates, follow us on Twitter or join us on Facebook
ONGC shares dipped 1.2% as bids for over 97 lakh shares were received up to 2.30 pm on Thursday. This accounts for about 2 per cent of the total planned sale of 42.77 crore shares. The bidding has picked up a bit after a slow start for the first two hours when bids for only over 35,000 shares were received. The government is offering to sell 5 per cent of its stake (42.77 crore shares) in the state-run oil explorer. The auction for the shares, which takes place today, will help the government raise over Rs 12,000 crore. The sale of ONGC shares is part of the government's divestment programme.
Here are 10 facts on the ONGC auction:
1) As of 2.30 pm, bids were received for 97,03,894 shares. The company's share price dipped 1.2 per cent after gaining 1 per cent in early morning trade. Institutional investors are likely to bid later and try to keep their bidding prices under wraps. In an auction, bidding typically intensifies towards the end of the trading session. A Reuters report said that State Bank of India, the largest public sector bank, could bid in for ONGC shares.
2) This is the biggest equity offering this year. The government's holding will come down to 69.14% from 74.14% currently post the share sale. The auction for 42.77 crore shares will start at 09:15 am and end at 3.30 pm. The floor price has been set at Rs 290 per share. The minimum bid quantity is one share (lot size of one share). Citi, JM, Nomura, DSP ML, Morgan Stanley and HSBC Securities are the investment bankers for the deal.
3) The government is selling part of its stake in ONGC to meet its divestment target of Rs 40,000 crore. The government is widely expected to miss its deficit target of 4.6 per cent of GDP for the current fiscal year ending March, partly due to its inability to meet the budget target for more than Rs 40,000 crore in state-company share sales. So far this fiscal year, the government has only raised about Rs 1,250 crore.
4) The government had earlier planned to sell ONGC shares through a public offering but that plan was scrapped last October after tepid response from investors amid weak equity markets. India's stock market posted its first annual fall in three years in 2011, losing nearly 25 percent. Shares in ONGC fell 20 percent in the same period. But the stock market has rebounded in 2012 and the BSE Sensex has climbed nearly 15 percent, with foreign funds scooping up beaten shares worth more than $7 billion.
5) Retail investors can participate but market participants say they will not be able to compete with big fund houses and institutions. That is because there will be no discounts and reservation for retail investors. Normally, 35 per cent of the shares in a public offer are reserved for small investors. "The only disappointment would be on the retail side because retail investors would not be able to participate... Usually retail investors get a discount but that's not happening," RS Sharma, Former CMD of ONGC told NDTV Profit on Wednesday.
6) So, who will buy: Big foreign funds, including sovereign funds from Abu Dhabi and Kuwait, have assured the government that they will buy the 5% stake, according to reports. Funds from Singapore and London have reportedly also informally underwritten the stake sale. Life Insurance Corporation (LIC) is also expected to bid in today's auction, according to the market buzz.
7) This is the first stake sale being done via auction route. Only last month, the Securities & Exchange Board of India (Sebi) allowed shareholders of the country's top 100 companies by market value to raise funds by auctioning their stakes through stock exchanges. Bankers said while investors would be able to participate in the auction in the same way as in the previously used follow-on share offering, the owner of a company would save significant cost and time in the auctioning process.
8) How does the auction work: Multiple orders from a single buyer shall be permitted. The indicative price & cumulative bid quantity shall be made available on exchanges at regular intervals. Allocation will be intimated to the bidding broker on T+1 basis. Stock exchanges will collect 100% of the order value in cash. No single bidder other than MFs & insurance companies will be given more than 25 per cent shares.
9) Valuation: Rs 290 is a very good price. The stock is valued at Rs 330 on 2013 earnings per share (EPS), which is 9-times FY 13 price earnings, Sanjiv Prasad, Executive Director and Co-Head of Kotak Institutional Equities told NDTV Profit yesterday. The multiples can be re-rated to 10-11- times given the optimistic outlook in the markets, he added.
10) A successful auction in ONGC shares will pave the way for divestment in other public sector companies like heavy engineering goods firm BHEL and steel major SAIL.
(With inputs from Reuters)
For NDTV Updates, follow us on Twitter or join us on Facebook
