I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
The board of directors of Mid-Day Multimedia, which met on Wednesday, approved a proposal to issue and allot, on a preferential basis, 21,90,000 fully paid up equity shares
Karnataka high court on Wednesday refused to stay an emergency shareholder meeting called by select investors of Think and Learn Pvt Ltd -- the owner of Byju's -- to oust the company's Founder and CEO Byju Raveendran and his family from the leadership in the edtech firm. Byju's had approached the Karnataka HC seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing. "It is further submitted that the conditions for convening the Extraordinary General Meeting (EGM) are not complied and no notice is issued as contemplated under Section 100 (3) of the Companies Act 2013," the court order said.
The IPO is an offer for sale of 38 million shares by SBI, BOB, LIC, PNB and T Rowe Price. Barring T Rowe and PNB, the others are selling stake to comply with Sebi norms.
Digital payments firm Paytm is expected to seek shareholders' approval to raise up to Rs 16,600 crore through an initial share sale, giving it a valuation of over Rs 1.78 lakh crore, according to a source. The extraordinary general meeting of Paytm is scheduled for July 12 in which the company may seek approval to raise up to Rs 12,000 crore through issuance of fresh equity. Another Rs 4,600 crore is expected to be raised from the sale of equity shares by existing and eligible shareholders, according to the source.
The shareholders have approved raising of Rs 12,000 crore during the initial public offer and sale of secondary shares will take the total amount to Rs 16,600 crore. "Shareholders have approved all the proposals at the extraordinary general meeting. "The shareholders have approved the proposal to raise capital and the fresh issue of shares of up to Rs 12,000 crore during the IPO.
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
All Chinese nationals on the board of digital payments firm Paytm have been replaced by US and Indian citizens, while there is no change in existing shareholding, according to a regulatory filing of the company. Alipay representative Jing Xiandong, Ant Financial's Guoming Cheng, and Alibaba representatives Michael Yuen Jen Yao (US citizen) and Ting Hong Kenny Ho have ceased to be directors of the company, as per the regulatory document. According to a source, Paytm now has no Chinese national on its board.
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
UTI Asset Management Company (UTI AMC), India's oldest mutual fund, is in advanced stages of discussions to divest 26 per cent to a strategic partner.
This is the sixth mark down for the largest e-commerce marketplace of the country in as many months.
Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said. The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources. According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
The funds will be used to expand the merchant offerings across India to equip them with technology and various other services.
The meeting with foreign investors assumes significance as the government is undertaking host of reform initiatives to attract investment.
Loses notional value by 37.5% because of markdowns by investors
The restructuring of UTI, which started seven years ago when the country's oldest mutual fund failed to meet redemption obligations, is nearly complete.
The initial public offer of Adani Power, which closed today, got subscribed over 14 times with most of the bids coming in from institutional investors.
Flipkart is in expansion mode, needs to infuse funds in the firm.
A clutch of global financial institutions led by T Rowe Price, HSBC and an investment arm of the Government of Singapore are the lead investors in the Rs 600 crore (Rs 6 billion) qualified institutional placement (QIP) issue of UB Holdings.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
Mid-day Multimedia Ltd said on Saturday it has raised the investment limit of foreign institutional investors and non-resident Indians in the company to 26 per cent.
Flipkart faces intense competition from larger global rival Amazon and local rival Snapdeal.
Flipkart also faced criticism earlier this year after it deferred the joining dates for campus recruits from the Indian Institutes of Management and Indian Institutes of Technology
US mutual funds Valic Co 1 and Fidelity Rutland Square Trust II, which have minority stake in Flipkart, have marked down the value of their stocks in the company
Around half the value of the mark-downs is due to the Japanese currency's appreciation against other currencies.
Amazon has emerged a competition for posterboy of Indian e-commerce Flipkart.
Michael Dell clinched shareholder approval on Thursday for his $25 billion offer to buy and take Dell Inc private, ending months of conflict with the company's largest investors and removing the uncertainty surrounding the world's No. 3 PC maker.
They researched their companies well, didn't believe in the market chatter and advise to stay invested for long term.
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