Viom Networks is planning to raise arouns Rs 1500 crore (Rs 15 billion) and is likely to list its shares on the London Stock Exchange (LSE), say sources.
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
India's first infrastructure equipment bank Quipo, part of Rs the 1,600 crore (Rs 16 billion) SREI group, said on Thursday that the company will invest about Rs 200 crore.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
'2018 has seen a bi-polar market.' 'Thanks to gains in some key stocks, market returns are positive. But there has been huge wealth destruction in the small and mid-cap space.'
India is an under-penetrated ATM market with only 98 ATMs for every 10 lakh of population.
Eight FDI proposals worth Rs 1,311.54 crore (Rs 13.11 billion), including that of Norwegian telecom firm Telenor, have been cleared by the government on the basis of FIPB approvals.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
American Tower bulks up in India with $1.2 billion Viom stake buy
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
On July 31, one of the five shortlisted companies, IRB Infrastructure, had said it would not bid for MTHL.
Aditya Birla Nuvo gets board's nod, Videocon submits application.
The Rupee is expected to weaken further against the dollar.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
On Friday, the euro weakened to a near 14-month-low against the dollar, after the European Central Bank announced a fresh round of stimulus and promised more if required.
The view among the regulator and the government is that the currency is overvalued
Firms are still barred from holding board positions in the special purpose vehicle that will develop the airport.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
The central bank has been intervening in the foreign exchange market by buying dollars, and this is capping the rupee's gains.
For the wealthy, post-tax returns of debt funds would work out better
The Street had factored in the NDA win, owing to which the appreciation in the rupee is expected to be limited
The RBI has agreed to consider the application of India Post in consultation with the government.
To neutralise this, RBI has been doing forward swaps
The scrutiny is expected to be over this month itself.
It includes a session with Gadkari on analysing the initiatives needed to bridge the $1 trillion infrastructure deficit in the country.
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
This is the second extension for the bids since June 18.
The company needs Rs 2,000 crore more in 2 years to repay debt.
Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded.
DFS writes to departments that haven't responded to RBI's request for information.
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The RBI has accepted the application withdrawal request, according to the statement.
Licence winners are expected to be announced by the first quarter of 2014.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
Bankers and executives involved in ATM operations said challenges abounded in this segment.
Deepak Narang, executive director of United Bank of India, speaks on Vijay Mallya's 'wilful defaulter' status.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
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