Swiggy is planning to file its draft red herring prospectus with the Securities and Exchange Board of India for its initial public offering (IPO) in the next two weeks, aiming for an $11 billion IPO valuation target. The Bengaluru-based firm plans to raise an estimated $1 billion (Rs 8,300 crore) through the IPO this year. The company is targeting a valuation in the range of $10-11 billion, and it currently has approximately $800 million in cash from the previous funding round, according to sources.
Former India skipper Sourav Ganguly said on Saturday that Rishabh Pant is "fully fit" but added that the wicketkeeper-batter should be given some more time to prepare himself for India team selection for the upcoming T20 World Cup in the West Indies and USA.
The action is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers, RBI said.
With the setting up of doorframe metal detectors, CCTV cameras, drones and deployment of armed commandoes, a banquet in Delhi has turned into a fortress of sorts for the marriage of gangster Sandeep alias Kala Jathedi with 'history-sheeter' Anuradha Choudhary alias 'Madam Minz' on March 12, official sources said on Monday.
The ED will probe if money earned from the illicit narcotics trade was laundered to create movable and immovable assets by the accused. The investigation will run parallel to the NCB probe, the sources said.
The government also announced that healthcare cover under the Ayushman Bharat insurance scheme will be extended to all ASHA and anganwadi workers and helpers.
Equity fundraising through qualified institutional placements (QIPs) has gained traction, thanks to supportive equity markets and the need for fresh fundraising to meet capital expenditure (capex) requirements.
The incident took place near Magdalla Port on Dumas road when a large number of truck drivers blocked the road demanding withdrawal of the new law on hit-and-run cases, Deputy Commissioner of Police (Zone-6) Rajesh Parmar said.
Blessed with a glut of superb all-rounders in B Sai Sudarshan, Abhinav Manohar and Vijay Shankar, as well as bowlers like Rahul Tewatia and Rashid Khan who can smoke the opposition bowling when the situation demands, Gujarat look set to put on another big show for their fans this season.
In selectors' radar, Kumar Kushagra gets maiden India A call-up against England Lions
Shares of Bajaj Finance sprinted 4.7 per cent to Rs 7,732 per share on the BSE in Thursday's (January 4) intra-day trade as the non-bank finance company's (NBFC's) December quarter business update reflected minimal impact of the Reserve Bank of India's ban on two of its lending products. The shares, eventually, ended 4.4 per cent higher at Rs 7,710 per share as against 0.69 per cent gain in the benchmark S&P BSE Sensex. The NBFC's asset under management (AUM) topped the Rs 3-trillion-mark at the end of December 2023, swelling by roughly Rs 20,700 crore (35 per cent year-on-year) to hit Rs 3.11 trillion-mark.
After a spike in crude oil and gas prices in October following the Hamas terror attack, prices eased down 9 per cent month-on-month in November. The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices. The best guess here is that crude prices (currently at $75/barrel, or bbl) will not likely cross significantly above $80, and gas prices are also likely to remain subdued unless there's a further escalation in the Israel-Hamas conflict.
How the IPL teams have shaped up after the auction.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Buying a phone on a low budget comes with the risk of buying a dud. So here is our list of phones that you will be happy buying.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
The Delhi high court on Monday granted bail to four convicts serving life imprisonment in the murder case of TV journalist Soumya Vishwanathan.
The recent price correction in broader markets has hit cement companies hard. So far in the current month, smallcap firms like Visaka Industries, Andhra Cements NCL Industries, Sahyadri Industries, and KCP have lost 19.7 per cent, 14.3 per cent, 13.8 per cent, 13.5 per cent, and 11.5 per cent, respectively. On the contrary, largecap companies, while registering losses for the month, have seen a softer blow.
A leading industry chamber on Wednesday said it estimated the three-day shutdown by traders in the national capital to have cost Rs 7,000 crore (Rs 70 billion) in terms of business loss.
JM Financial on Wednesday said it had a "careful and detailed review" of the Reserve Bank's order imposing restrictions on the company's financing business and asserted that there was "no material deficiencies" in its loan sanctioning process. The Reserve Bank on Tuesday imposed restrictions on JM Financial Products Ltd after it found the company indulged in various manipulations, including repeatedly helping a group of its customers to bid for various IPOs (initial public offerings) by using loaned funds. "After careful and detailed review of the order issued by the RBI on the action against JM Financial Products Ltd, we strongly believe that there have been no material deficiencies in our loan sanctioning process.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
In a bid to enhance its equity exposure and earn higher returns for its nearly 65 million subscribers, the Employees' Provident Fund Organisation (EPFO) is considering reinvesting 50 per cent of its exchange-traded funds (ETFs) redemption proceeds back into equity. Sources close to the development said a proposal regarding this was discussed in the investment committee (IC) meeting in October last year, and the recommendation has been sent to the Central Board of Trustees (CBT), the apex decision-making body of the EPFO for its approval. The next CBT meeting is scheduled to be held on Saturday.
The push to develop Ayodhya as a tourism centre, accompanied by large-scale infrastructure projects, comes on the back of years of limited income growth and tourist inflows.
Drivers of commercial vehicles, including trucks and tankers, stopped work in several states on Monday and blocked roads at some places to protest against the provision in the new penal law regarding hit-and-run accident cases involving motorists.
Dear Finance Minister, We don't expect magic, just a little understanding and some tax relief that feels like a real reward, not a bare minimum. A little extra fuel in our wallets could go a long way, pleads Vatsal Ramaiya
In a presentation to investors, the company said it has become a key player in all four metros.
Keep track of your foreign remittances to avoid giving incorrect declarations as these could be held against you.
Chennai Super Kings' batters dazzled before the bowlers ran riot to thrash Gujarat Titans by a thumping 53-run margin.
Financial Intelligence Unit detects over Rs 7,800 cr blackmoney.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Enforcement Directorate on Thursday raided the premises of Delhi Cabinet Minister and Aam Aadmi Party leader Raaj Kumar Anand and some others as part of a money laundering probe, official sources said.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
'What happened to Andhra Pradesh? It is the perfect example of the transientness of Federal Units.' 'Federalism is a transient thing in this country.'
The cash pile within smallcap mutual fund (MF) schemes has grown over the past few months amid a relentless rally in stocks in this space. While fund managers usually don't make cash calls, incessant inflows and valuation discomfort have forced their hand. At the end of January, the top 10 schemes had over Rs 12,160 crore in cash, compared to Rs 8,700 crore in August 2023.
'Personal income tax is growing by 27 per cent and most refunds have already been issued.'
All eyes will be on whether Sitharaman will deliver a populist budget leaving more money in hands of the common man or push the reform agenda by staying on the fiscal glide path to lower the fiscal deficit to 4.5 per cent of GDP by 2025-26.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Sukhu said that he was a warrior and will fight till his last to ensure the welfare of the state and its people.
Is the unusually and unbearably scorching Sun and the general laxity, bordering on laziness, among voters, responsible, asks N Sathiya Moorthy.
The contracts for the procurement of the platforms and weapons systems were signed in the presence of Defence Minister Rajnath Singh and defence secretary Giridhar Aramane, under whose guidance these deals fructified, an official readout said.
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