The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
Firms have to adhere to strict compliance requirements mandated by global parents
Seamers Kagiso Rabada and Wayne Parnell wreaked early havoc to set the platform for an easy South African victory in the third and final one-day International against England at Lords' on Monday.
Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
Saudi Aramco had right from the beginning resisted the price tag Reliance had put for the 20 per cent stake in O2C business, which comprises the company's twin refineries at Jamnagar in Gujarat, petrochemical plants and 51 per cent in fuel retailing venture.
Summary of sports events and persons who made news on Tuesday
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
Loss-making Nokia gains full control of the profitable venture Nokia Siemens Networks for $2.2 billion, a cheaper than-expected price, analysts said, although they also noted the acquisition would put pressure on Nokia's balance sheet.
'Macro headwinds are rising for Indian equities in the form of rising commodity prices, especially oil, depreciating rupee, fiscal challenges, election-related uncertainty and upside risks to inflation'
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.
Market cap touches Rs 5 lakh crore; earnings growth to spurt in FY19
Was Adani able to clinch this loan merely as a result of his proximity to Prime Minister Narendra Modi?
HCL Technologies and Infosys should benefit more than TCS and Wipro
Beijing did not announce expected policy support over the weekend
'It disappoints and saddens me no end that Mahua has allowed herself to be carried away by the Goebbelsian onslaught mounted on the BJP and Narendra Modi by certain vested interests which find themselves exposed and thrown out of the gravy train,' says B S Raghavan, the distinguished civil servant.
Flight of high-paying banking jobs to other European cities will hurt the prospects of Indian real estate developers and desis in the hospitality business in the UK, says Kunal Bose.
Many investors clearly think they can play this game.
Apple Inc may have disappointed many consumers by not putting sapphire glass covers on its new iPhone, but the scratch-resistant material is gradually making its way into mobile devices despite manufacturing challenges and high costs.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
Yahoo Inc plans to spin off its 15 percent stake in China's Alibaba Group Holding Ltd, responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
The Street is never short of hope and events to look forward to
India has reached a significant milestone on Friday (November 28) by achieving Rs 100 lakh crore or 100 trillion market cap.
Sunrisers Hyderabad would look to get yet another win under their belt.
There was hope in some quarters that the interim Budget would boost sentiment and lay the groundwork for kick-starting the investment cycle, while staying on a path of fiscal consolidation.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
Delhi Daredevils, looking to get back to winning ways after two straight defeats, face a stern test against formidable Sunrisers Hyderabad in Thursday's IPL match, in Hyderabad.
Karun Nair kept Delhi Daredevils' slender hopes of qualifying for the play-offs alive with a 59-ball unbeaten 83 that guided them to a six-wicket victory over Sunrisers Hyderabad in Friday's Indian Premier League match, at the Shaheed Veer Narayan Singh stadium in Raipur, that went down to the wire.
The country last raised the amount of government debt that foreign investors can buy by $5 billion in June last year.
The vote leaves Greece in uncharted waters: risking a banking collapse that could force it out of the euro.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
Meet the US Attorney who took on Donald Trump.
