Kotak Mahindra Bank is aiming to mop up Rs 500 crore (Rs 5 billion) through its private equity fund, which will invest primarily in unlisted companies, and another Rs 450-500 crore from the real estate venture fund.
HT Media Ltd, which is planning to launch a Mumbai edition of Hindustan Times in mid-2005, filed a draft red herring prospectus for its proposed initial public offering with Securities and Exchange Board of India.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
New Delhi Television Ltd has filed a draft red herring prospectus with Securities Exchange Board of India for its initial public offer of Rs 100 crore (Rs 1 billion).
The Reserve Bank on Friday accepted most of the recommendations of its working group on corporate ownership of private sector banks, by allowing unrestrained promoter shareholding in the first five years of operations and hiking the same to 26 per cent after 15 years from the extant 15 per cent and also the new capital requirements. The move will benefit leading banks like Kotak Mahindra Bank and IndusInd Bank, among others, which have been seeking more time from the regulator to divest their stakes for many years now. Accepting 21 of the 33 recommendations of the internal working group, the central bank said the remaining suggestions are under its consideration.
'Start-ups that generate a majority of their income in India are likely to opt for an Indian listing.'
The government has appointed Kotak Mahindra Capital Co, DSP Merrill Lynch and JM Morgan Stanley as book runners for the public issue of 10 per cent equity shares in state exploration firm Oil and Natural Gas Corporation.
TCS tops the list of 100 wealth creators for the fourth time in a row
These were the fastest and most consistent wealth creators over the past 5 years.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times.
McGraw-Hill and S&P India on Monday revised upwards their offer price by about 14 per cent to Rs 775 per share to acquire up to 65.57 per cent stake in credit rating agency Crisil.\n\n
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
The promoters of Kotak Mahindra Bank will bring down their equity by 11 per cent to 49 per cent by 2004 in order to comply with the Reserve Bank of India's stipulations
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
From offering office premises that can be converted into isolation wards to earmarking funds to be used for procuring kits, ventilators as well as personal protective equipment for health care workers, India Inc has put a united front to combat the unprecedented crisis facing the country.
Mukesh Ambani continues to remain the richest man in India.
Banks are expected to cut lending rates from April 1.
Enthused by the upbeat mood visible about India at the World Economic Forum in Davos, eminent banker Uday Kotak said investors now want to see some real action on the ground.
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
Donald Trump, accompanied by US First Lady Melania Trump, was received by Kovind at the forecourt of majestic Rashtrapati Bhavan along with his wife Savita.
It recorded total income of Rs 54,606 crore (Rs 546.06 billion) and net profit of Rs 9,810 crore (Rs 98.10 billion) on stand-alone basis.
Besides the dairy business, the transaction also involves sale of 100 per cent shareholding in Sunfresh Agro Industries, a step-downsubsidiary of Prabhat, via a share purchase agreement, the company said.
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Fund transfer through Facebook is meant for tech-savvy customers.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
