Offer size could vary from Rs 1,200 cr to Rs 2,000 cr
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
The rupee is currently hovering around Rs 65/USD at 2-year lows.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
The Citigroup may cut a deal with the US government on Monday that will allow it to repay the bailout fund the financial entity had received at the height of the global financial crisis, says a report.
The development makes Citibank India the first country franchise within Citigroup to launch an industry innovative mobile payment solution, which has been developed with its technology partner Ezetap.
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.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
The financial services major posted a profit of $1.6 billion in the first quarter of this year against a whopping loss of $5.11 billion in the same period last year.
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.
The year 2015 is turning out to be very different from 2014.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
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.
'Nobody has a premium on solving the world's problems. Everybody has got new things to learn from somebody,' says CitiBanker Ajay Banga.
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.
A former top executive of Citigroup has been charged for allegedly siphoning off more than $19 million from the bank, the latest in a string of frauds that have come to light at the global banking giant.
Suuti's merchant bankers give proposal; deal value could be Rs 2,800 crore
Reports have suggested Rs 400-650 as the possible IPO price
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.
The report, however, said a sustained weakness in USD against the emerging market forex remains a key risk to this view.
Citigroup will soon announce what its executives describe as a drastic plan to shed a host of businesses and shrink itself by one-third, a leading financial daily said on Wednesday, citing people familiar with the bank.
Citigroup and the International Finance Corporation will be launching a funding tie-up worth $1.25 billion, aimed at boosting global trade flows, says a media report. As per the deal, Citi would provide $750 million to banks in Asia, the Middle East, Africa and Latin America over a three-year period, it added.
There is a strong case for 25 basis points cut in interest rates.
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.
Buying one share of Citigroup will cost its CEO Vikram Pandit his full-year salary -- $1, which can also buy a soft drink at any neighbourhood McDonald's store.
India's growth rate is expected to improve to 7 per cent by FY 2017, while inflation and current account deficit are likely to moderate in the coming years, a Citigroup report said.
Indian economy grew 7.9 per cent in the March quarter.
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.
Global banks Morgan Stanley and Citigroup and private equity firm Actis today collectively bought a six per cent stake in the National Stock Exchange (NSE) for an undisclosed sum.
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.
How did an Indian Army brat become one of the most powerful bankers in the world?
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Infosys will declare its July-September quarter earnings on Friday.
Global investment firm Citigroup is bullish on Indian equity markets.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
