Hospitality firm OYO is planning to raise up to $1.2 billion (around Rs 8,000 crore) through an initial public offering and is expected to file the draft red herring prospectus with Sebi next week, sources told PTI on Thursday. OYO has appointed investment banks like JPMorgan, Citi and Kotak Mahindra Capital to manage its public issue, they added. Comments from OYO could not be obtained at the time of filing the story. The proposed initial public offer (IPO) plan of the hospitality firm follows the spectacular success of Zomato's IPO that ended with a bumper oversubscription on July 16, and was biggest since March 2020.
Dressed in green separates, the actor put her incredible abs on display.
Kangana Ranaut walked for Anushree Reddy at the Lakme Fashion Week.
The government is planning to soon file the final papers for LIC IPO with market regulator Sebi, which will provide details about the price band, discount for policyholders and retail buyers, and the actual number of shares to be put on the block, an official said. The government is presently in the wait-and-watch mode because of the market volatility induced by the Russia-Ukraine war and will decide on the timing of the initial public offering (IPO) of Life Insurance Corporation (LIC). "We have got the approval of the DRHP and the next step would be to file the RHP, which will give details of the price band and the actual number of shares.
A Siliguri-based hotelier has challenged a National Company Law Appellate Tribunal (NCLAT) ruling that closed insolvency proceedings against OYO and one of its units, in the Supreme Court. The hearing is scheduled for September 13 before a two-judge Bench. Oyo did not immediately respond to a request for comment.
The Securities and Exchange Board of India (Sebi) has cleared the draft red herring prospectus (DRHP) of the state-owned Life Insurance Corporation of India (LIC). According to investment banking sources, the so-called final observations were issued by the market regulator on Tuesday evening. Following the market regulator's nod to the IPO papers, the insurer can launch its share sale. However, LIC may not launch its IPO immediately given the current volatile market conditions.
The draft e-commerce rules released last year held e-commerce marketplace responsible if a seller on its platform failed to deliver the goods or services ordered by a consumer "due to negligent conduct, omission or commission of any act by such seller", causing loss to the consumer.
Multiple layers of iron and cement barricades, and at least five layers of concertina wires were put up last year, and further strengthened after the January 26 violence this year during the farmers' protest against the three contentious farm laws.
Wing Commander Abhinandan Varthaman of the Indian Air Force who shot down a Pakistan air force F-16 during a dogfight on February 27 earlier this year, flew a MiG-21 Bison aircraft during the Air Force Day parade at Hindon Air Base. Three Mirage 2000 aircraft and two Su-30MKI fighter aircraft also flew in the 'Avenger formation'. The planes are being flown by pilots who took part in Balakot airstrike. Here are highlights from the parade.
The active Covid cases have declined to 9,94,891, comprising 2.35 per cent of the total infections.
Finding itself trapped in a cul de sac, all things considered, a negotiated climbdown at this juncture seems the only sensible course available for the Centre, suggests Virendra Kapoor.
Tech giant Microsoft Corporation has invested nearly $5 million (about Rs 37 crore) in OYO through the issuance of equity shares and compulsory convertible cumulative preference shares on a private placement basis by the latter, according to a regulatory filing by the hospitality chain. An extraordinary general meeting of Oravel Stays Pvt Ltd (OYO), which runs the OYO Rooms chain of hotels, on July 16 approved issue of the equity shares and Series F2 compulsory convertible cumulative preference shares (Series F2 CCCPS) for "an aggregate consideration amounting to rupee equivalent of $4,971,650 to Microsoft Corporation on a private placement basis", as per an RoC filing by the company.
What happens when religious fundamentalists take over a country?
The plea, filed by a religious guru based in Mathura, Devkinandan Thakur, has challenged the constitutional validity of Sections 2, 3, and 4 of the Places of Worship (Special Provisions) Act 1991, stating that it offends Articles 14, 15, 21, 25, 26, 29 of the Indian constitution and violates the principles of secularism and the rule of law, which is an integral part of the Preamble and basic structure of the Constitution.
Traders' body CAIT on Thursday said the ongoing farmers' agitation in Delhi-NCR has caused a business loss of nearly Rs 50,000 crore. Confederation of All India Traders (CAIT) secretary-general Praveen Khandelwal said the government's fresh proposal to keep farm laws in abeyance for one-and-a-half year and constitute a joint committee with farmer leaders "is quite justified and reasonable which indicates its willingness to resolve the crisis".
The silence is specially deafening from three parties that symbolised hope for Muslims: The Congress, the Aam Aadmi Party and the Samajwadi Party. 'What fear prevents these leaders from at least talking about the way our community is being targeted?' 'Will they really lose Hindu votes if they do so?'
Morgan Stanley on Thursday became the latest brokerage to question the valuations of Indian equities and downgraded them from 'overweight' (OW) to 'equalweight' (EW) and recommended taking some money off the table. "We move tactically EW on India equities after strong relative gains - we expect a structural multi-year earnings recovery, but at 24 times forward price-to-earnings (P/E) we look for some consolidation ahead of US Fed tapering, an RBI hike in February and higher energy costs," Morgan Stanley equity strategists, led by Daniel Blake and Jonathan Garner, said in a note on Asia Pacific markets. The brokerage has upgraded Indonesia to OW, while maintaining an EW stance on China and UW on Taiwan.
Rentals of prime offices in Bengaluru and Mumbai fell 8 per cent and 6.2 per cent, respectively, during January-March 2021 as compared to the year-ago period, according to a Knight Frank report. In its Asia-Pacific Prime Office Rental Index Q1, 2021 report, the consultant said the prime office rents in the national capital region (Delhi-NCR) declined by only 1 per cent during January-March this year as against the same period of 2020.
The tennis star watched the match while doing her make up at Lakme Fashion Week!
The amount of money lying unclaimed with the Life Insurance Corporation of India dwarfs the budgets of many ministries. There was Rs 21,539.5 crore which lay unclaimed with India's largest insurance company, according to details in the initial public offer (IPO) document it filed over the weekend. The regulatory documentation is ahead of LIC selling shares to the public through the stock exchange for the first time this financial year. This will be India's largest ever public listing.
About 10 lakh cases filed in connection with violation of lockdown norms to prevent spread of COVID-19, and cases over protests against the Citizenship Amendment Act early last year would be withdrawn, Chief Minister Edappadi K Palaniswami announced in Tenkasi on Friday.
They straddle many different (non-financial) lines of business with sometimes opaque overarching governance structures.
The problem is so severe that multiple agencies have issued several precautionary measures.
'Our future is in limbo. The government saved us with Operation Ganga; now, they must save our careers.'
Chief Minister Arvind Kejriwal tweeted that he was "glad" the mertro services will resume operations in a phased manner.
The stunning actor revealed her super fit body in a bridal lehenga from Anushree Reddy's collection.
The finance minister will also visit the school in Tamil Nadu where she studied from KG to Class 5.
The petition, filed by advocate M L Sharma, said the Pegasus scandal was a matter of grave concern and a serious attack upon Indian democracy, judiciary and country's security and the 'widespread and unaccountable' use of surveillance is 'morally disfiguring'
The attack lasted for four hours from around 11 pm on Saturday to 3 am on Sunday, police said.
Registering an increase for the seventh day in a row, the total active caseload has increased to 2,34,406 which now comprises 2.05 per cent of the total infections, while the recovery rate has further dropped to 96.56 per cent, the data stated.
The Asian Development Bank (ADB) on Monday said it has approved a loan of $125 million (around Rs 938 crore) for water supply and sanitation projects in Uttarakhand. The funds will be utilised to improve access to quality water supply and sanitation services in the Himalayan state, ADB said in a release. Under this project, 136 kilometres of water pipe system will be constructed to replace defective water networks in South Dehradun. This will ensure reliable and continuous water supply, benefitting an estimated 40,000 people, including 4,000 urban poor and vulnerable groups.
Life Insurance Corp of India (LIC), which is aiming to launch its initial public offering (IPO) next month, is set to alter the pecking order of top listed companies in the country. Depending upon where the government prices the IPO, the stock could end up becoming India's most valuable company on the first day and even get fast-tracked into global benchmark indices given its sheer size. According to market sources, LIC's IPO is targeting to mop up Rs 63,000 crore and Rs 75,000 crore.
The Centre's decision to not reduce the face value of shares of India's Crown Jewel - Life Insurance Corporation (LIC) - was taken to make shareholders feel they are acquiring something 'precious'. The face value of LIC's shares was retained at Rs 10, quoted in the draft prospectus, as it would also align the insurer's shares with those of its private sector peers. Even as the LIC Act was amended to "consolidate or reduce the nominal or face value of the shares", with the Centre's approval, it was decided to stick to the current face value of shares at Rs 10 without splitting the existing 6.32 billion shares.
HAL is working closely with GE to develop the LCA's export potential.
Hospitality firm OYO is looking to raise $600 million (over Rs 4,380 crore) in debt from the US institutional investors to service its existing loans, sources in know of the matter said on Thursday. The company is raising $600 million in a term loan B (TLB) structure, the sources said. The company is taking the TLB to service its existing loans which are on higher interest rates, they added.
To equate the Hindu propensity not to persecute non-Hindus is a sign of mature self-confidence, not weakness as the rabid insist, asserts T C A Srinivasa Raghavan.
The first Jal Shakti Minister Gajendra Singh Shekhawat may believe that the water crisis is a media creation, but the photographs below suggest otherwise.
Hospitality firm OYO will be shifting to a 4-day work week, OYO founder and group CEO Ritesh Agarwal said in a tweet on Wednesday, as the company also launched a no questions asked flexible infinite paid leaves initiative. Agarwal in a tweet noted that COVID-19 continues to test the physical and mental well-being of people. One thing that truly matters is having more time for our loved ones and ourselves.
The 'ghar wapsi' was marked with celebratory atmosphere at Ghazipur border, where protestors, chiefly members and supporters of the Tikait family-led Bharatiya Kisan Union (BKU), danced to patriotic and regional tunes hailing the farming community.
With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said. "It's a full blown war now so we will have to assess the situation for going ahead with the LIC IPO," a government source said. Finance Minister Nirmala Sitharaman, too, had indicated review of the IPO in view of the evolving geopolitical situation.
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