Whalesbook
Record Deals, Kyunki Market Mein Hai Gadbad!
FY25-26 mein companies ne preferential equity listings ka naya record bana diya hai. Pata hai kitni deals hui? 25 saal mein itni kabhi nahi hui thi - total 1,307! Aur in deals se jama hue hain ₹1.49 lakh crore, jo record mein teesre number par hai. Ye sab isliye ho raha hai kyunki duniya mein aur market mein kaafi uncertainty hai. Middle East mein tensions aur crude oil ke bhaav badhne se market mein bahut uthal-puthal hai, jiske chalte Nifty50 aur Midcap index lagbhag 9% gir gaye. Aise time mein companies ko jaldi aur pakka paisa chahiye hota hai, isliye ye preferential deals unke liye best option ban gayi hain, public offerings ke lambe process ko chod kar.
Kaun Utha Raha Hai Paisa Aur Kaun De Raha Hai?
Paisa kaun utha raha hai aur kaun invest kar raha hai? Financial services sector, jaise NBFCs aur banks, growth ke liye paisa laa rahe hain. Pharma companies bhi ismein shaamil hain, jo aise volatile times mein defensive maani jaati hain. Kuch bade deals mein IDFC First Bank ne ₹7,500 crore, Biocon ne ₹6,950 crore liye hain non-promoter entities ko. Aur toh aur, Vodafone Idea ne toh ₹36,950 crore ka spectrum amount equity mein convert karwa liya! Choti companies (SMEs) bhi peeche nahi hain, unke segment mein 244 deals hui hain. Sabse interesting baat yeh hai ki lagbhag 60% paisa promoters ke alawa doosre investors se aaya hai, jo dikhata hai ki bahari investors bhi opportunities dhoondh rahe hain. Warrants bhi kaafi popular ho rahe hain, jismein abhi thoda paisa dekar baad mein baaki ka settlement hota hai.
Kya Hai Ismein Risks?
Lekin bhai, har chamakti cheez sona nahi hoti. Jab companies aise private deals karti hain, toh kuch risks bhi hain. Existing shareholders ke liye ye ek bada 'Dilution' ho sakta hai, matlab unki shareholding kam ho jayegi, especially agar share discount par issue kiya gaya ho, jisse unka EPS bhi affect ho sakta hai. Preferential shares par kabhi-kabhi fixed dividends dene padte hain jo mehange pad sakte hain aur future mein loan lene ki capacity kam ho sakti hai. Jab non-promoter investors itna bada stake lete hain, toh company ki oversight aur terms ko lekar bhi sawaal uthte hain. Kabhi-kabhi ye deals companies ki emergency situation ya phir risky growth plans ko fund karne ke liye bhi ho sakti hain. Agar market mein bahut zyada volatility ho, toh naye investors ko fayda mil sakta hai jabki purane shareholders ko nuksan ho sakta hai. Credit risk bhi ek concern hai.
Aage Kya Hoga?
Experts ka kehna hai ki ye preferential deal wala trend abhi aur chalega. Jab tak market mein ye uncertainty aur geopolitical issues bane rahenge, companies ko aise hi private deals karke fund jama karna padega. Investors bhi ab seedhe aur efficient tareeke pasand kar rahe hain, especially badi companies mein jahan thoda stability rehta hai. Toh, aane wale time mein bhi ye corporate finance ka ek important tool bana rahega.