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M&M Acquire More Stake in MITRA Agro For $1 Million

12Mar By AnkitaNo Comments

ACQUISITION

M&M Acquire More Stake in MITRA Agro For $1 Million

M&M has signed a share purchase agreement to buy additional 34,249 equity shares of MITRA Agro Equipments Pvt Ltd, an associate of the company, from its existing shareholders. The company currently holds 26 percent of the equity share capital of Mitra, and after the completion of the above transaction, it will hold around 39 percent of the equity share capital of Mitra on a fully diluted basis, Mahindra & Mahindra said in a filing to the BSE. The purchase of additional equity shares in MITRA Agro Equipments Pvt Ltd would support the company's farm equipment business in the horticulture sector, it added. After the acquisition of equity shares, Mitra would continue to remain an associate of the company, Mahindra & Mahindra said. The purchase at which these shares are ...

Comviva Sells Stake in TerraPay to Prime Ventures, Partech Partners and IFC

3Mar By Press Trust of IndiaNo Comments

BUSINESS

Comviva Sells Stake in TerraPay to Prime Ventures, Partech Partners and IFC

Mobility solutions provider Comviva has sold its shares in fintech company TerraPay to a consortium of Prime Ventures, Partech Partners and IFC. The company has, however, not disclosed the value of the deal. Prime Ventures and Partech Partners are co-investing in TerraPay, along with International Finance Corporation, a member of the World Bank Group, a firm said. "Apart from acquiring Comviva shares, the investors have further invested USD 9.6 million in TerraPay to fund the company's expansion," it added. TerraPay, incubated by Comviva in 2015, provides payment infrastructure services by enabling payment service providers such as banks, mobile money operators, money transfer operators or other payment providers to instantly connect to each other at a low cost. Since 2015, ...

Paytm to buy Stake in Yes Bank from Co-founder Rana Kapoor

10Sep By PriyankaNo Comments

BUSINESS

Paytm to buy Stake in Yes Bank from Co-founder Rana Kapoor

As per the latest update, India's leading payments app Paytm is in discussions to buy stakes in Yes Bank from co-founder Rana Kapoor. The sources, privy to the discussions, said Kapoor has held preliminary discussions with Paytm. They said the structure of the deal would depend on the approval from the Reserve Bank of India (RBI), given that Paytm founder Vijay Shekhar Sharma already owns stake in Paytm Payments Bank. Paytm declined to comment on the matter. Kapoor and associated entities own a 9.6 per cent stake in Yes Bank. Rana Kapoor didn't answer on the email of Pixr8 News. Also, Yes bank group didn't clear whether Rana Kapoor and family will sell their entire stake in the bank. Ravneet Gill, the current chief executive officer of Yes Bank who took charge in March, has ...

China’s English Learning Platform LAIX Debuts on NYSE

28Sep By Gauri SinghNo Comments

Market

China’s English Learning Platform LAIX Debuts on NYSE

China’s AI-based English learning platform LAIX Inc has debuted on the New York Stock Exchange (NYSE) with its initial public offering (IPO), trading under the ticker symbol of "LAIX." The company priced its initial public offering of 5,750,000 American depositary shares (ADSs) at $12.50 per ADS. The total offering size was roughly $71.9 million. Along with this, LAIX has granted the underwriters an over-allotment option, exercisable within 30 days. "Listing on the NYSE will make LAIX a more international company, which can help us attract customers all over the world, as we believe our English learning platform driven by AI not only can serve Chinese English learners, but also can help English learners in other countries," said Yi Wang, chairman and chief executive officer of LAIX. ...

China’s Viomi Technology Raises $102.6 million on its Debut on Nasdaq

26Sep By Gauri SinghNo Comments

Market

China’s Viomi Technology Raises $102.6 million on its Debut on Nasdaq

China-based IoT home platform company Viomi Technology has debuted on the Nasdaq stock exchange trading under the ticker symbol of "VIOT”. The company has raised about $102.6 million on its debut in IPO. It priced its initial public offering (IPO) of 11.4 million American Depositary Shares (ADSs) at $9.00 per ADS. Each ADS represents three of the company's Class A ordinary shares. The underwriters for the Xiaomi-backed company’s IPO include Morgan Stanley and China International Capital Corporation Hong Kong Securities. "By listing on the Nasdaq, Viomi hopes to better focus on the development of home appliance technology and further expand brand awareness, as Nasdaq is known as a tech-heavy stock exchange," Xiaoping Chen, co-founder and chief executive officer of Viomi said. The compa...

22Sep By Gauri SinghNo Comments

Market

All You Need to Know About US-based Eventbrite’s Much-awaited IPO

San-Francisco based online ticketing platform Eventbrite (EB) has finally launched its much-awaited IPO. The shares of the company soared as high as 70 percent in its stock market. The shares opened at $36 and climbed as high as $39.30 before ending the session 59 percent up at $36.50. Eventbrite’s stock has been listed on the New York Stock Exchange (NYSE) under the ticker EB. The firm at the initial stage priced its offering from $19 to $21 per share, but due to its high demand, it raised the final offering price to $23 per share. With this price, the company was successful in raising funds amounting to $230 million. Founded in 2006 by married couple Julia and Kevin Hartz, Eventbrite has raised a total of $373 million in equity funding as of now. The entry of Eventbrite in the stoc...

Cipla’s Ugandan Unit Raised $43.8 million from IPO

18Sep By Gauri SinghNo Comments

Market

Cipla’s Ugandan Unit Raised $43.8 million from IPO

India's pharmaceutical giant Cipla has been one of the most popular companies in its sector. The Ugandan unit of the pharmaceutical giant has reportedly raised $43.8 million (167 billion Ugandan shillings) from its oversubscribed initial public offering (IPO). Talking further about the IPO, Cipla Quality Chemical Industries Ltd (CQCIL) which is majority owned and operated by India's third-largest drugmaker sold 657 million shares equivalent to 18 percent of the firm's total equity. Every share in the IPO was priced at 256.5 shillings. "The offering has been oversubscribed with the major part of the demand coming from blue-chip Sub-Saharan Africa investors," John Porter, chief business officer at investment bank Renaissance Capital stated. Cipla is an Indian multinational pharmaceutica...

31Aug By Gauri SinghNo Comments

Market

Top 5 Performing Shares in 2018 Stock Market

In the past few months, we have been witnessing various companies that went public and entered the stock market. What actually is a stock? Well, the capital raised by a company or corporation through the issue and subscription of shares is known as stock. When a company lists itself on the stock market, it can raise funds from the public by the issue of its shares. A stock market is a place where shares of publicly listed companies are traded. The primary market is where companies float shares to the general public in an initial public offering. The people, especially the beginners are generally confused about which stock they should buy. The best strategy to get success in those fields would be to play safe and take the safest route to achieve goals. After a good examination of the ...

SoftBank Eyeing to Acquire $2 billion of Yahoo Japan shares

10Jul By Gauri SinghNo Comments

ACQUISITION

SoftBank Eyeing to Acquire $2 billion of Yahoo Japan shares

The multinational holding conglomerate SoftBank Group Corp. is eyeing to buy shares of Yahoo Japan Corp. worth $2 billion in a complicated deal. The contract was initiated by Altaba Inc. The company warned a few months back that it would start relieving its 35% stake in Yahoo Japan. Last year, when Yahoo Inc. was sold, Altaba was born so that its profitable stakes in Yahoo and Alibaba Group could be carved out. According to the deal, SoftBank will buy 11 percent of Yahoo stakes from Altaba. After this, Yahoo Japan plans to buy back its own shares from SoftBank. The entire transaction essentially lets Yahoo Japan remove a major overhang from its stock while keeping its relationship with SoftBank mostly the same. The whole deal will enable Yahoo Japan to remove a major overhang fro...

Foreign Investor Disposes off PVR shares Worth Rs 75 Cr

9Jun By Gauri SinghNo Comments

Market

Foreign Investor Disposes off PVR shares Worth Rs 75 Cr

The 5.67 lakh shares of the largest multiplex company PVR were sold by foreign investor Baron Emerging Markets Fund worth Rs 75 crore in an open market transaction on Friday. The recent shareholding information of BSE showed that as of April 2018 the seller company held 1.57 per cent stake in PVR and has disposed of 1.21 per cent stake. The shares were offloaded at an average price of Rs 1,332.15, valuing the transaction at exactly Rs 75.53 crore. The buyers of the shares comprised of: 1)DB International (Asia) 2) TT Asia-Pacific Equity Fund 3) TT Emerging Markets Equity Fund 4) Jana Emerging Markets Share Trust 5)Lockheed Martin Corporation Master Retirement Fund Baron Emerging Markets Fund seeks capital ...

Indostar Capital Finance IPO subscribed two-thirds on Day 2

12May By Lavina TolaniNo Comments

Market

Indostar Capital Finance IPO subscribed two-thirds on Day 2

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 Qualified institutional buyers (QIBs) which was set aside also witnessed a subscription for over 1.80 times non-institutional investors 3% and retail investors 34%. Much ahead of the offering, this Mumbai based firm has successfully raised Rs 553.2 crore from prominent anchor investors including East Bridge Capital and Fidelity among others. The IPO will witness partial exit of promoters as well as co-investors. The of...

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

17Apr By Lavina TolaniNo Comments

Market

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

Indian state-owned insurance and investment company, Life Corporation of India has booked record equity trading profits of Rs. 25,000 crore in 2017-18, much above Rs. 19,000 crores a year ago as informed by sources. LIC is known to adhere equity assets including mutual funds and shares worth Rs. 5 trillion (until the end of December) and profits approximately 5% of assets under management. Meanwhile, the company is working on its annual accounts, the same will be published in May. "The stock market has mostly been resilient in the past year and LIC has managed to get enough selling opportunities", reported a source on the promise of anonymity. Record-breaking profit from LIC is signaling a positive message if the insurer enhances its market exposure at the same time. This will ...