In an attempt to push startup environment facilitating the listing of startups in different sectors IT, ITES, biotech, 3D printing, space tech, and e-commerce, BSE India is launching a platform for new-age companies from July 9. The maiden platform will help in the listing of startups from other sectors too including defence, drones, nanotechnologies, virtual […]
India’s second largest private bank, ICICI has appointed ICICI Prudential Life Insurance CEO Sandeep Bakhshi as whole-time director and chief operating officer (COO). Meanwhile, Bank’s managing director Chanda Kochhar who is facing conflict-of-interest allegations will remain on leave until a committee investigating allegations of impropriety completes its work. The ICICI Bank board, in its meeting […]
India’s largest private sector fund ICICI Venture has sold off 30% of its stake in hospital chain Krishna Institute of Medical Sciences to its competitor General Atlantic worth Rs 850 crore. Through this deal, the company is expected to make close to four-fold returns on its initial investment in four years. The valuation of the […]
The public sector undertaking (PSU) of Indian Railways, RITES is looking forward to Rs. 3700 crore valuation in its initial public offering slated for June 20-22. RITES, which is a state-owned railway consultant has designated a price band of Rs. 180-185 apiece resulting in an IPO size of Rs 466.20 crore. Additionally, there is a […]
The Indian mobile network operator, Idea Cellular stated that the company obtained an approval to raise the Foreign Direct Investment (FDI) limit from the Department of Telecom (DoT). The operator informed that the previous FDI limit stood at 67.5 percent and now has been raised to 100 percent on Monday. The Idea Cellular, in this context, stated, “The […]
Bamnipal Steel Ltd (BNPL), daughter company of Tata Steel, recently made the acquisition of 72.65% of controlling stakes in Bhushan Steel Ltd (BSL) for Rs 35,200 Cr. Tata Steel Ltd made the highest bid to acquire the indebted Bhushan Steel Ltd in an insolvency action. The firm filed for bankruptcy was among the 12 stressed […]
IT Major Infosys has announced the resignation of its independent director, Ravi Venkatesan which would mark the first board-level departure since Nandan Nilekani took over the chairmanship of the company more than eight months back. Ravi who became Independent Director in 2011 has decided to leave the company to acquire “an exciting new role“, said […]
The Initial Public Offering of a Non-banking financial company backed by Everstone Capital-IndoStar Capital Finance Ltd. was subscribed 69% on the second day of bidding on Thursday. According to stock exchange data, the public issue of 22.57 million shares which excludes the allotment of anchor investors received bids for nearly 46.46 million shares. The category […]
The world’s largest asset manager BlackRock Inc. is all set to sell its 40% stake in DSP BlackRock Investment Managers Pvt. Ltd. to joint venture partner DSP Group, adding to the club of foreign asset managers that have left from Indian fund industry. As far as sources are concerned, DSP Blackout Investment Manager is currently […]
The Stock Market is one dynamic landscape where one can never be sure of what might take shape the very next moment. Last few months have witnessed a large number of IPO’s getting SEBI’s approval for public listing. But, how have they performed? Surprisingly, more than half of the listed Initial Public Offerings (IPO) stocks […]
India’s enterprise capital business has been urged to submit a white paper with policy recommendations to regulators that could help in addressing issues raised by stakeholders within the startup landscape. Indian Private Equity and Venture Capital Association (IVCA) is a nodal body designated for Risk capital sector in India. The development has come right after […]
JSW Group announced an additional investment not exceeding $500 million on its steel pipes and plates factory in Texas, which will allow them to make full use of the 1 million ton installed facility they acquired in 2007 instead of obtaining raw steel from Latin America and India. The group acquired the facility from then […]