Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
Biyani said he wanted to make amends for the steep pricing of the Future Capital IPO, which resulted in heavy losses for investors.
Members of Hindu right-wing outfits allegedly created ruckus at a mausoleum in Fatehpur district in Uttar Pradesh, demanding permission to offer prayers and claiming a temple had previously existed at the site. The incident has led to heightened security and political reactions.
As India and China continue to face off across the Himalayas six decades later, the echoes of that earlier conflict remain unmistakable. The core of China's sensitivity lies not in maps or mountain passes, but in its perception of sovereignty over Tibet, points out Dr Kumar.
On the cusp of launching its Rs 11,327 crore initial public offering (IPO) next week, food and grocery delivery major Swiggy believes quick commerce to be its future growth engine and anticipates that it will outpace its core food delivery business over the next five years. Currently, the quick commerce business of Swiggy - backed by Prosus and SoftBank - is 40 per cent of the size of its food delivery revenues.
Of the Rs 474.4 crore insurance cover, the largest component -- Rs 375 crore -- has been allocated towards personal accident cover for volunteers.
Nestled among 108 scenic hillocks, the 500 metre Mini Great Wall in Shailung, Nepal offers breathtaking views and a peaceful escape at 3,200 metres above sea level.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
Two Union Ministers visited the family of a 23-year-old woman in Kothamangalam who allegedly took her own life due to harassment by her lover. The family is demanding an NIA probe into the incident, alleging forced religious conversion.
A Competition Commission probe has found that food delivery platforms Zomato and Swiggy indulged in unfair business practices, including alleged preferential treatment to some restaurant partners, according to sources. The detailed investigation was ordered by the Competition Commission of India (CCI) in April 2022 and the probe report was submitted to the regulator earlier this year. Under the norms, CCI director general's report has been shared with the parties concerned and later, they will be called for hearings by the watchdog.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
'There's been interest from multiple states, and exploratory conversations are ongoing.'
Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. "We are also reading about it, but we are not seeing that yet in the business... So far, we have not seen the impact of demand on our business," its chief financial officer Rahul Bothra said.
Thousands of people participated in a 'silent march' in Kolhapur on Sunday, demanding that 36-year-old female elephant Mahadevi (also called Madhuri), be brought back from Vantara wildlife rescue, treatment, and rehabilitation centre in Gujarat's Jamnagar district.
The IPO rush will continue in September with two more companies Vijaya Diagnostic Centre and Ami Organics launching their initial share-sales on Wednesday to raise a total of Rs 2,465 crore. This comes after eight companies including Devyani International, Nuvoco Vistas Corporation and CarTrade Tech floated their initial share-sales last month to mobilise Rs 18,243 crore. So far in the current fiscal, a total of 20 companies have mopped up more than Rs 45,000 crore through IPOs. This is much higher than Rs 31,277 crore raised by 30 firms in the entire 2020-21.
United States tech billionaire Elon Musk said he has formed a new political party to give Americans their freedom back, after a dramatic falling out with Donald Trump.
"Commonwealth Games in India would leave lasting impact by boosting tourism, and creating jobs, the Government said in a statement.
Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the IPO will comprise a fresh issue of equity shares valued at Rs 3,100 crore, alongside an offer for sale of 22 million equity shares by its promoters and investor shareholders.
'It was from him I learnt that if you gave the student the freedom to find his own path, he would be more courageous to experiment.'
LIC's public offer, the country's biggest-ever IPO, witnessed full subscription of the retail portion on day three on Friday. The overall issue was subscribed 1.38 times, according to data posted on stock exchanges on 7 pm. Against 16,20,78,067 shares on offer, 22,36,98,915 bids were received. However, the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portions are yet to be fully subscribed.
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
LIC's public offer, the country's biggest-ever IPO, was fully subscribed on the second day of bidding on Thursday. Against 16,20,78,067 shares on offer, 16,68,60,765 bids were received -- translating into a subscription of 1.03 times, as per data on stock exchanges as of 7 pm. However, the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portions have received a tepid response so far.
India topped the APAC region with 227 transactions in the first eight months of CY24. The US was second with 133 deals while China ranked third with 69 transactions.
Reliance Jio, the telecom business of the Mukesh Ambani-promoted conglomerate, is expected to go for an initial public offering (IPO) of over $6.25 billion either in the second or the third quarter of the calendar year 2025, sources said. Reliance Retail is likely to be listed around the same time with a short gap, it is learnt. The timing of the two IPOs, however, will depend on the company's assessment of the market conditions among other factors.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
LIC public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors. The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. The LIC initial public offering (IPO), now open for retail and institutional investors, is set to close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue.
'Trump's sons, and the son of Trump's Mideast envoy Steven Witkoff, are in the crypto business and recently signed deals with Pakistan's crypto council.' 'It may not be coincidental that not long before the Trump-Munir meeting, the head of Pakistan's crypto council met with Trump's White House crypto policy czar.'
The Securities and Exchange Board of India (Sebi) on Wednesday announced a slew of measures to ease the compliance burden in the stock markets ecosystem, encourage more companies to list on the bourses after reverse flipping to India, and facilitate greater foreign fund flows into government bonds.
'Sell in May, go away' is a popular market adage. But 'Don't sell any new shares in May' is the best kept secret of Dalal Street that's set to break. Sample this: the last four General Election election cycles starting 2004 have not seen a single initial public offering (IPO) launch during the month of May.
After a year of decline, mergers and acquisitions (M&As) in India increased 13.8 per cent, reaching $69.2 billion in the first nine months of 2024, as against $60.8 billion during the same period in 2023. Led by Indian companies and private-equity (PE) firms, 2,301 transactions were signed between January and September this year as compared to 1,855 transactions reported in the same period last year, according to the Bloomberg data.
HDFC Bank on Wednesday reported a 2.3 per cent year-on-year rise in its consolidated net profit to Rs 17,657 crore for the October-December quarter, restricted by slower loan growth. On a standalone basis, the largest private sector lender's net profit came at Rs 16,735.50 crore for the period, up from Rs 16,372.54 crore in the year-ago period, but marginally down from the preceding quarter's Rs 16,820.97 crore.
Lavasa Corporation, the real estate arm of Hindustan Construction Company (HCC), filed a draft prospectus with the Securities and Exchange Board of India for an initial public offer (IPO), even after several developers have been keeping similar plans, after filing these, on hold for several months.
