The IPO is an offer for share (OFS) of 5.29 million shares being sold in the price band of Rs 1,100 to Rs 1,101 per equity share, representing 16.7 per cent stake in the company.
Mobile gaming firm Nazara, a venture Rakesh Jhunjhunwala backs, hit the market on Wednesday with an initial public offering (IPO).
“The government has received complaints against certain e-commerce companies alleging violation of FDI policy and necessary actions under the provisions of Foreign Exchange Management Act, 1999 have been taken for investigation by the Enforcement Directorate,” Goyal said.
Rising inflation in recent months and below average real policy rates could imply quicker capital flight, prompting central banks in the two economies to hike rates, global rating agency S&P said in a report on Wednesday.
Proviso to Section 10A of the IBC states that, no application shall ever be filed for initiation of corporate insolvency resolution process (CIRP) of a corporate debtor (CD) for defaults during Covid period. Thus, all defaults of Covid period will be outside the purview.
The increased caseload could lead to near-term growth concerns and delay market expectations on the timing of policy normalisation, global brokerage firm Nomura said in a report on Wednesday.
The EPFO manages more than Rs 12 lakh crore of retirement savings but the changes in the investment pattern announced by the finance ministry on Tuesday are only for non-government provident funds that manage the retirement savings of their workers inhouse.
The reflation trade that is lifting US yields will not hit Asian emerging markets’ financial conditions and growth outlook as much as during the taper tantrum of 2013, S & P Global Ratings said on Wednesday.”The recovery across Asia’s emerging economies should withstand rising US yields so long as this reflects an improving growth outlook and reflation rather than a monetary shock,” said Shaun Roache, Asia Pacific Chief Economist at S & P.In 2013, US yields leaped after the Federal Reserve indicated it will begin unwinding its quantitative easing programme. The resulting panic over rising credit costs led to sharp outflow from emerging markets, including Asia’s, and forced central banks to hike interest rates.”Not all yield shocks are created equal,” said Roache.The report highlighted three important factors that determine vulnerability to external shocks in Asia and which are relevant today.One: the nature of the shock. Yields can rise for more than one reason. Some are more .
The US is working with allies to strengthen its hand against China and the recent Quad summit was probably the most important illustration of what it’s trying to achieve, a Biden admin official said
The US sanctioned an additional 24 Chinese and Hong Kong officials over Beijing’s crackdown on political freedoms in the semi-autonomous city, including a decision to overhaul its electoral system