For the initial public offering (IPO) of the Life Insurance Corporation of India (LIC), the Centre has shortlisted 50-60 anchor investors, which include BlackRock, Sands Capital, Fidelity Investments, Standard Life, and JP Morgan, and will soon finalise its anchor book. The feedback from anchor investors has led to price discovery in LIC shares, valuing India's largest insurer at around Rs 7 trillion, said an official aware of the development. The "attractive valuation" is seen widening the investor base by providing an opportunity to more of them to participate in the IPO, the official added.
With tomato selling at Rs 120 to Rs 160 per kilo, these desi curries will be your saviours.
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.
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
E-commerce platform Snapdeal is looking at filing its Draft Red Herring Prospectus (DRHP) in the next few weeks to launch an initial public offering in first half of next year, according to sources. Sources close to the development said the company is looking at a $250 million (around Rs 1,870 crore) IPO that could value Snapdeal at about $1.5-1.7 billion. Snapdeal is looking at filing the DRHP in December-January time frame, and launch the IPO in the first half of 2022 after the necessary approvals, they added. One of the sources said the founders will not be selling shares as part of the IPO, and major shareholders are also expected to hold onto their shares.
From sunrise to sunset for one week in Nevada's Black Rock Desert, artists, musicians, dancers, and those who just love to have a good time gathered for seven days of radical self-expression atop tricked out vehicles at the Burning Man festival. This year's gathering, which kicked off on August 27 ended on a high after burning the eponymous 'Man' on September 4.
E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
The Burning Man isn't your usual festival; it's a bustling makeshift metropolis dedicated to art and community wherein almost everything that happens is created entirely by its citizens, who are active participants in the experience.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Foreign portfolio investors (FPIs) and mutual funds (MFs) have put in more money as anchor investors in initial public offerings (IPOs) in 2021 than any other year. FPIs' share of investments for the year stood at Rs 24,477 crore, nearly six times that put in last year and more than nine times the amount invested in 2019, the data from Prime Database showed. MFs have invested Rs 12,264 crore, four times than that invested last year and more than 10 times the investment in 2019. The total investment by FPIs and MFs put together this year is five times the amount invested last year. The amount contributed by MFs, however, is nearly half of that invested by FPIs.
'Sepoy K Ashuli displayed nerves of steel, exemplary courage, fearlessness under enemy fire, unparalleled devotion to duty and camaraderie of the highest order in keeping with the finest traditions of the Indian Army.'
The Burning Man festival came to its traditional spectacular conclusion on Saturday night, when the huge wooden effigy that gives the event its name was set alight. More than 50,000 revellers have spent the last week camping in the Black Rock desert in Nevada. Money is outlawed at the festival, so revellers must bring everything they will need for the week-long rave. Reuters photographer Jim Urquhart captured this year's festival, which had the theme 'Caravansary'.
Presenting the best looks from the Byblos show.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
Eyeing to become India's largest player in 2020 Adani Group plans to invest 70 per cent of its capital expenditure in clean energy and energy efficient systems.
Paytm's Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale on Wednesday, making it one of the country's most valued companies. The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges. While the portion set aside for retail investors was oversubscribed early, institutional buyers including FIIs flooded the share sale with offers on Wednesday, seeking 2.79 times the number of shares reserved for them.
The fund house says it is doing this to protect the interests of existing investors.
Day 1 saw Microsoft make the highest number of offers while Intel emerged as one of the top recruiters on Day 2.
UK-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the US, within a couple of days of getting a USD 1 billion refund resulting from the scrapping of a retrospective tax law.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
Try these easy-to-make Indian recipes you can try at home.
The Indian market is a bull market and the current weakening is merely a correction, says Apoorva Shah, executive vice president & fund manager (equity), DSP BlackRock Mutual Fund.
Exodus of top managers an unintended side effect of roaring MF industry
An analysis of how DSP BlackRock Micro Cap fund has performed in the last five years
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
As per a PMO statement, Modi told the investors that "he believes in a fair, predictable and consistent tax system
Some call it a social experiment, some see it as an interactive arts festival and some see it as a damn good rave party.
Snapdeal has a number of shareholders including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock, among others.
Despite slowing down, China and India continue to contribute more than half of the world's economic growth, a new report by an investment management and advisory services firm has claimed.
We bring you a presentation of some of the best photos from around the world in the month gone by
We bring you a presentation of some of the best photos from around the world in the month gone by
Private equity firm CVC Capital has sold a $1.6 billion stake in Formula One to three investors including BlackRock ahead of the motor racing company's planned $3 billion initial public offering in Singapore, sources said on Tuesday.
Anup Maheshwari, executive vice-president and head of equities & corporate strategy, DSP BlackRock, says the long-term attractiveness of investing in India remains intact.
These models were caught off-duty :)
'It could tempt investors to pick stocks that are not fundamentally sound.'
Buying units of international feeder funds is no different from buying any mutual fund unit.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
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