Rakesh Verma, 71, and wife Rashmi, 65, who own nearly 54% of the company post-IPO, are the latest founders to strike gold during this year’s stock market boom.
No final decision has been reached regarding the valuation or timing of the potential IPO, and Allied Blenders could still decide against proceeding with the plan.
The stock dropped 5.6% to Rs 1,321 in Mumbai, extending this week’s losses to almost 16%. The stock is now down nearly 39% from its issue price of Rs 2,150.
India’s largest lender aims to sell a 6% stake in SBI Funds Management and Amundi 4%, the firms said in separate filings Wednesday. The IPO will seek to raise about $1 billion.
FabIndia aims to submit its draft red herring prospectus as soon as early next year. Its IPO will largely consist of investors selling existing shares.
In a written reply in Lok Sabha, Nirmala Sitharaman said that among the 61 IPOs, 35 were below Rs 100 cr, while 4 were in the range of Rs 100 cr & less than Rs 500 crore.
Dolat Capital Market, third brokerage to initiate coverage on Paytm, says its transition to a 'manufacturer' of financial services from an agent will help the digital payments firm.
Invesco will pour in $200 million, with other existing investors such as Softbank participating. Swiggy is expected to follow Zomato with an IPO about a year or so later.
On the first episode of Two Much With Kajol and Twinkle, Aamir Khan and Salman Khan were confronted with another hypocrisy: age gaps. And they didn't come out looking good.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
While the IAF remains committed to the Tejas programme and has placed orders for 180 Tejas Mk1A, the force is eagerly waiting for the Tejas Mk 2 version.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
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