MUMBAI: PhonePe has secured a go ahead from markets regulator Sebi for its IPO, people aware of the matter said. The Walmart-owned company is seeking to raise around Rs 12,000 crore ($1.3 billion) through an offer for sale (OFS). If it proceeds with a Rs 12,000-crore offer, it will be the second biggest Dalal Street…
NEW DELHI: The Employees’ Provident Fund Organisation (EPFO) exposure to the equity market has for the first time reached 10%, as the retirement fund body looks for avenues to augment its income to sustain the persistent high annual returns amid falling govt bond yields, where nearly 85% of its investible corpus is parked.“EPFO is allowed…
MUMBAI: Inspira Global, which owns the Chinese Wok brand, is acquiring Burger King India operator Restaurant Brands Asia (RBA). As part of the deal, Everstone Capital will exit RBA by selling its entire 11.3% stake to Inspira Global for about Rs 460 crore. The quick service restaurant space has been going through a slowdown on…
MUMBAI: Uncertain political and economic environment, combined with weakness of the dollar and rising industrial demand for silver pushed gold and silver prices to record levels on Tuesday, both in the international and domestic markets.Gold broke above the Rs 1.5 lakh/10gm mark for the first time while silver traded above the Rs 3 lakh/kg mark,…
MUMBAI: The rupee weakened for a fifth consecutive session on Tuesday, closing at 90.98 to a dollar, down 7 paise from the previous session, after breaching the 91 mark and sliding to a one-month low intraday amid rising geopolitical tensions and sustained selling in domestic equity markets.The currency opened marginally weaker and slipped to 91.05…
The European Parliament is planning to suspend approval of the EU-US trade deal agreed last July in response to President Donald Trump’s threat to impose new tariffs on European nations over Greenland. The decision is expected to be formally announced in Strasbourg on Wednesday, signaling heightened tensions between Washington and its European allies, according to…
Jio Platforms is waiting for the government to issue final guidelines on SEBI’s proposed changes to IPO rules before finalising its listing plans, a senior company official said. The company’s IPO timeline will depend on when these regulatory details are clarified.SEBI in September approved proposals to relax initial public offering requirements for very large companies…
HYDERABAD: In line with its strategy sharpen its focus on fast growing markets of central India, KONE India has set up its central region office in Hyderabad, which is its fifth regional office in the country. The new office will cater to states such as Madhya Pradesh, Chhattisgarh and parts of Maharashtra, in addition to…
India is stepping up the adoption of battery and alternative fuel-powered train engines as it moves to phase out diesel locomotives on short and medium-distance routes, following the near-complete electrification of its rail network.With just 405 route kilometres (rkm) left to be electrified out of a total 70,117 rkm, officials said the focus of the…
Netflix has revised its proposed acquisition of Warner Bros. Discovery, shifting to an all-cash transaction valued at USD 27.75 per share. The move aims at simplifying the deal structure and strengthening its position amid rival takeover efforts.The revised offer values Warner Bros. Discovery at an enterprise value of about USD 82.7 billion, including debt and…
