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.
Snapdeal would become the largest tech company to test investors’ appetite for IPOs after the disastrous debut of Paytm’s parent, One 97 Communications Ltd.
Paytm shares have fallen about 30% since it started trading, with a slight rebound Tuesday. Planned smaller IPOs could have a harder time pricing shares now.
At least some of the IPO prospects that have been looking to benefit from the flood of transactions may now rethink the timing and pricing of their issues.
Sharma encouraged employees to look past the initial stumble and to focus on the long-term opportunities for bringing digital payments to India's fast-growing internet population.
The proposed amendment to the Insolvency and Bankruptcy Code aims to reduce timelines and provide for a mechanism that involves minimal interaction with the court. It fails on both counts.
Cooperation Ministry takes a step towards financial inclusion with Sahkar DigiPay and Sahkar DigiLoan. They will enable faster and seamless access to financial services in small towns.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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