FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
Offer size could vary from Rs 1,200 cr to Rs 2,000 cr
Global investment firm Citigroup is bullish on Indian equity markets.
While Reliance put up a good show, NTPC nosedived on the BSE on Monday.
Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
Telecom operator Reliance Jio Infocomm has arranged credit facilities worth $1.5 billion with lenders, including Bank of America and Barclays, to refinance existing loans.
These include Goldman Sachs, HSBC, UBS, Deutsche Bank, Barclays, RBS, Citigroup and JP Morgan and they have said in their respective regulatory filings that they are cooperating with the relevant authorities in the investigations.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
The task force will look at emerging markets, technology, regulatory and monetary policies, loss of trust in financial services, and financial inclusion.
The report pointed out that further rate hikes do pose downside risks to Citi's FY'09 and FY'10 GDP estimates of 7.7 per cent and 7.9 per cent, respectively. "...the days of 9 per cent plus growth are over and we believe that India has lost the opportunity to sustain those levels for now, and we expect growth to come in around 7 per cent plus levels in FY'2009-10," Citigroup, in its latest economic and market analysis report for India, stated.
A referendum will be held on Thursday, June 23, to decide whether Britain should exit (Britain's exit, hence the term Brexit) or remain in the European Union.
Suuti's merchant bankers give proposal; deal value could be Rs 2,800 crore
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Global research firm Citigroup, citing data compiled by emerging market fund flow tracker EPFR, said in a report that of the outflows registered by Asian funds, investors put in $209.9 million in China-dedicated funds. Meanwhile, Asian equity funds inflow declined to $46 million in the first week of December, while it was at $350 million in the third week of November.
'The government has used the current macro situation to its advantage.'
The rupee is currently hovering around Rs 65/USD at 2-year lows.
Reports have suggested Rs 400-650 as the possible IPO price
According to global financial services provider Citigroup's outlook for 2008, the high multiples, declining liquidity and overbought Asia (excluding Japan) markets suggest 20-25 per cent downslide in 2008.
The year 2015 is turning out to be very different from 2014.
New mobile subscriptions in India are likely to surge 50 per cent in 2007 from the previous year, mainly driven by growth in the ultra low cost market, global equity research firm Citigroup forecasts.
SBI has hired six global giants -- Citigroup, UBS, Barclays Bank, Deutsche Bank, Bank of America Merrill Lynch and JP Morgan -- for the sale of dollar-denominated bonds, they added.
NPA issues in the banking sector, standoffs in Parliament denting the reform momentum and limited space on the fiscal side are among the major concerns for investors.
Smaller companies have outperformed firms with large capitalisation on bourses in November, with those from India emerging as the second-best performers in Asia, global financial conglomerate Citigroup says in a latest report. Indian small-caps are only next to Indonesia and have performed better than those in other Asian markets like China, Hong Kong, Taiwan, Singapore, Malaysia and Thailand.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
According to the report by the global financial services major, the FY2013-14 CAD is expected to be within $36 billion or 2 per cent of GDP, and this fiscal year CAD is likely to be slightly higher but contained at 2.3 per cent of GDP.
Encouraged by improvement in corporate earnings and decent monsoon forecasts, Citigroup has raised its BSE Sensex target to 28,800 for the fiscal year ending March 2017.
Foreign investors sold $2.8 bn stocks in the past quarter alone. FIIs trimmed their holding in the BSE 500 companies by nearly two percentage points to 17.8 per cent, bringing it back to June 2005 levels, according to a Citigroup report. FIIs pulled out shares worth $2.8 billion over the past quarter.
Sahai, who did his master's in economics from the University of Delhi, is currently head of Citi's Securities and Fund Services business.
According to a study by the brokerage division of global financial services major Citigroup, promoter holding went up to 58 per cent in the BSE-500 companies in the second quarter this fiscal from 54 per cent in the previous three-month period. In contrast, FIIs, mutual funds, banks, insurance companies and retail investors cut down their holdings.
Asian countries (ex-Japan) including India and China, are now the most expensive region in the world as strong inflows into Asian funds are stretching valuations, according to analysts. Yet, Asian equities continue to attract big money. The region is trading at 29 per cent premium against the developed world and 14 per cent against global emerging markets (GEM) on price to earnings (P/E) multiple, said a report by the Citigroup.
Ahmedabad-based firm to fund deal through equal amount of equity and debt.
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