Liability goes up by Rs 1,000 cr for every Rs 1 change in $ exchange rate
This could mean an end to the talks for a possible partnership between the two firms in the multi-brand retail space -- less than a year after 51 per cent foreign investment was allowed in the sector.
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Senior company officials said the funds would be used to expand its financial services business in rural India where the group would be opening more branches.
The mood at the Indian Institute of Management, Ahmedabad (IIM-A) is festive, with one of its alumnii, Raghuram Rajan taking over as the next Reserve Bank of India (RBI) governor.
Walmart's US Senate filings on Indian market missing
RIL, Essar, Adani have sounded bankers to raise funds abroad in the coming weeks
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
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Lawyers say open offer must for twin stake purchase to meet Sebi rules.
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According to sector officials and watchers, the funding (among the largest so far in the segment) from its existing investors -- Naspers, Accel Partners, Tiger Global and Iconiq Capital -- might be a sign of confidence they have in the company but it's still unsure if it will be enough for Flipkart to turn a corner and become profitable.
No respite in sight as not many big deals, initial public offerings in pipeline.
Scott Price is learnt to have conveyed to Sharma that Walmart remained committed to the India market.
We are serious about setting up a bank and use the parent branding that is a household name in India, says Venugopal Dhoot.
Needs funds for Odisha plant expansion, to cut high debt.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
Some leading Indian companies are likely to see their earnings declining if the Indian currency depreciates further, analysts and finance heads say.
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Issue in two months for Australian projects; group to invest another $15 billion in infrastructure projects by 2020.
The two companies have approached banks to raise up to Rs 8,000 crore as debt to fund their expansion plans.
Some investment bankers expect the Indian currency to touch 60-65 by the end of the year
An official said next week, the Department of Industrial Policy and Promotion was likely to issue clarifications sought by the sector on the government's multi-brand retail policy.
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