Manjit Rajain, Mortice's founder, will hold 75 per cent of the equity after flotation. He will use the funds raised to take the company into broader property and facilities management services across India. He said the company had looked at several stock markets, including in India and Singapore, before deciding to come to Aim because it would be cheaper, quicker and at a higher valuation.
India is keen to expand its banking system to help support its economic growth, which is the second fastest after China among Asia's large countries. Unlike China, its financial system is still small relative to the economy and its banks are dwarfed by many of their international peers, in spite of their vast potential market in India and overseas.
The breakthrough for Scrabulous came when it appeared on the social networking site. Now it claims more than 600,000 daily users, making it one of Facebook's most popular applications.
The truth is that this is an impressive realisation of a corporate vision, a car long-promised, designed explicitly to hit a price point, and one that will meet the needs of poorer consumers. It is safer than a bicycle and cleaner than an old moped.
Global food prices will come under further pressure on Monday as benchmark prices for cereals at much higher levels come into operation, making it almost inevitable that a second wave of food price inflation will hit the world's leading economies.
What is the best course of action for executives trying to allocate a smaller bonus pot? And how should they manage expectations to prevent mass defections or legal action?
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances