Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
BCCI secretary Jay Shah on Friday said that the postponed Ranji Trophy will be held in two phases starting next month, clearing the decks for India's premier domestic competition to resume after being cancelled last season.
Explore, engage, participate and excel in as many co-curricular activities and hackathons as possible to improve your self-confidence, communication skills and overall personality, advises rediffGURU Chocko Valliappa.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
With the fight now having been taken to the seizure of nuclear plants, it is one more warning to Europe that this prolonged war could end up with disastrous consequences, observes Rashme Sehgal
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
India's newest batting star Sarfaraz Khan and wicket-keeper Dhruv Jurel were inducted into Group C of BCCI's central contract with an annual retainership fee of Rs 1 crore, having fulfilled the criteria of playing three Tests in a current season.
Despite Dharavi being located in the Mumbai North Central constituency and Mahalaxmi Racecourse in South Mumbai, the issues have caught the attention of all parties and their candidates.
'A campaign that goes beyond caste, creed and religion.' 'This is a campaign that aims to end hunger in society'
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
As the COVID-19 vaccination of children falling into the age bracket of 15 to 18 years is scheduled to begin from January 3, the Kerala health department has prepared an action plan for inoculation of all eligible beneficiaries.
Gujarat Titans pace bowler Mohit Sharma conceded it was hard to replace a bowler of the calibre of Mohammed Shami as his team succumbed to a massive 63-run defeat at the hands of reigning IPL champions Chennai Super Kings in Chennai.
The Congress on Friday claimed that a 'silent undercurrent' is brewing across western Uttar Pradesh against the 'failures' of the Modi government, as it flagged issues such as 'neglect' of sugarcane farmers and examination paper leaks.
'Yes, there have not been any express fast bowlers that are coming from the MRF Pace Foundation that we used to have back in the years.' 'But that's not going to happen anymore. Now, in the next few years, you are gonna see a lot of really good fast bowlers coming out from the MRF Pace Foundation again.'
FMPs remain an option for investors who believe interest rates could head downward over time and wish to lock in the current rates. TMFs have very low expense ratios, which makes them cost-efficient.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
State Tourism Minister Bratya Basu said that Chief Minister Mamata Banerjee had directed the Tourism Department to go ahead with the setting up the board.
The Union government's six-year initiative to unbundle state electricity boards into separate entities for power generation, transmission, distribution and trading businesses is set to be delayed further, with seven states still to do so, even as the Centre's latest time-limit expired on June 30. After 6 years of pushing, just 14 states have turned these into separate units.
Rauf's central contract may be 'restored'
Shah reiterated the Board's position that Indian players will have to prioritise domestic cricket.
rediffGURU Maxim Emmanuel offers expert advice on how to make an informed career choice.
The implementation of the five 'guarantees' announced by the Congress may cost the state exchequer an estimated Rs 50,000 crore annually.
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
Senior bankers point out that while they will eventually attract qualified professionals, onboarding them takes time.
Vladimir Putin wants to destroy Ukraine's power plants before the onset of winter in the hope that Ukrainians, unable to cope with the bitter cold, end their determined resistance to the Russian invasion, which will enter its eighth month on Monday, October 24, 2022.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Last year, the Planning Commission got the approval for the 9 per cent annual average economic growth target under the Approach document for the 12th Plan from the country's apex decision making body, the National Development Council, headed by the Prime Minister with all the chief ministers and Cabinet ministers on board.
The company divests from properties abroad to focus on its key markets.
States' demand for 5 years and Constitutional provision ruled out
'There cannot be anyone like Air Marshal Keelor -- he was so difficult to emulate.' Air Commodore Nitin Sathe (retd) salutes War Hero Air Marshal Denzil Keelor PVSM, KC, AVSM, VrC who passed into the ages last month.
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
Australia's Prime Minister Scott Morrison announced on Saturday that late spin legend Shane Warne will receive a state funeral, while the country's cricket board decided to rename a stand at the Melbourne Cricket Ground in the famed leg-spinner's honour as the country mourned the loss of one of its greatest sportspersons.
'Kerala is on a par with global standards.'
Hospital chain Aster DM Healthcare's plans to sell its Gulf business may run into rough weather with voting advisory firm Institutional Investor Advisory Services (IiAS) raising concerns over the transaction. Recommending an 'against' vote on the resolution, IiAS has said there is no clarity on how Aster DM will utilise the proceeds that it will obtain by selling the unit, which contributes to bulk of its revenues. In November, Aster DM had announced its plans to sell its wholly-owned subsidiary Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion.
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