REC launching Yen bonds this week to raise Rs 2500 crore
REC has opted for a Regulation S offering which will make it compliant with US laws without the need for the company to register with the stock market regulator there. The offering will be open to multiple investors who invest in Yen-denominated securities based in and outside Japan. Key Points
Economic TimesAmic Forging, Graphisads among 6 SME IPOs set to hit the Street this week. Check details
Dalal Street is gearing up for another busy week in the primary market as six small and medium enterprises (SME) IPOs to hit the primary market this week. However, Swashthik Plascon has already opened for subscription and will close this week. The Rs 31.73 crore initial public offering of Amic Forging will open for subscription on Wednesday Key Points
Economic TimesJio may launch fixed wireless access device for retail users at 20% discount to market rates
Reliance Jio is expected to launch its fixed wireless access (FWA) device, Jio AirFiber, for the consumer market in the festive quarter at a discounted price of up to 20%. The device will use carrier aggregation technology and will be launched after completing consumer trials and stabilizing its 5G rollout. This move is seen as Jio's main effort to monetize 5G. The FWA market in India is expected to grow significantly given the country's high data consumption and vast geography. Key Points
Economic TimesMovies at ₹99: Watch Yudhra, Stree 2, GOAT and other new releases with flat discounts; here’s how
The action thriller Yudhra, starring Siddhant Chaturvedi and Raghav Juyal, was released on September 20, coinciding with National Cinema Day, offering tickets at ₹99. Several new releases and popular films like Stree 2 continue to attract audiences. Key Points
mintWorld of Warcraft: Dragonflight's Seeds of Renewal 10.2.5 Patch unveils major changes. Details here
Blizzard's 10.2.5. Seeds of Renewal patch for World of Warcraft presents a comprehensive array of changes, including a new zone, expanded dragonriding capabilities, Azerothian Archives events, the quest to reclaim Gilneas, Follower Dungeons, the introduction of the Outland Cup, and various character customizations, race and class changes. Key Points
Economic Times
Companies will ringfence talent through new approaches: Quess Corp executive chairman Ajit Issac
To further bolster the compensation game and retain top talent, firms will enhance their bespoke, holistic benefits offering models, to make the overall offering more lucrative. Companies are offering employees an unlimited leave policy to prioritise wellbeing and manage time during childrens board exams. With medical inflation between 12% and 13%, companies are continuously looking to upgrade corporate health insurance. Key Points
Economic TimesApparel retail sector is likely to face another quarter of slowdown: Report
This is primarily due to the lower footfall during the peak season, impact of world cup during weekends and late onset of winter season. As a result, most brands have kicked-off end of season sale offering upto 65% discount, 2 weeks early in December 2023 against normal one month EOSS window in January. Key Points
Economic TimesIndian e-tailer Firstcry's parent files to go public
BENGALURU (Reuters) - Indian online retailer Firstcry filed for an initial public offering on Thursday, its draft papers showed. Firstcry's parent Brainbees Solutions will sell shares worth 18.16 Key Points
ThePrintMG Motor offering huge discounts on Comet EV and ZS EV SUV
The discount list for December 2023 covers MG's entire car and SUV lineup, including the Comet EV and ZS EV SUV. Potential buyers can take advantage of these discounts until December 31, 2023. Key Points
Economic TimesAmazon Great Indian Festival sale 2023: Top deals on Samsung S23, Moto Razr 40 and others revealed
The Amazon Great Indian Festival Sale 2023 is set to go live on October 8. Prior to the sale, the e-commerce website has announced its Kickstarter deals, offering discounts on popular smartphones, including the Samsung S23 Ultra and Lava Agni 2. Key Points
India Today
HPS, Oaktree among firms pitching deals for trapped SVB deposits
Hedge funds are offering to buy the deposits of startups at discounts of between 60 cents to 75 cents on the dollar. Others are offering liquidity to private equity and venture capital firms whose portfolio companies are unable to access cash at SVB at around 80 cents on the dollar in exchange for a guarantee from the fund that owns the companies, according to one of the people. Key Points
Economic TimesIdeaForge Technology IPO sets a record with over 100 subscriptions and expects strong listing gains
Ideaforge Technology's IPO received over 100 subscriptions. The offering was subscribed 85.20 times in retail, 125.81 times in QIB, and 80.58 times in NII categories. The IPO size is ₹567.00 crores, with shares trading on BSE and NSE. Key Points
mintCyient DLM IPO: What GMP indicates ahead of subscription tomorrow
Cyient DLM is set to start its initial public offering on Tuesday, offering shares in the range of Rs 250-265 with a total value of up to Rs 592 crore. Ahead of the IPO, the company's shares have commanded a premium of Rs 90 in the unlisted markets. At the upper price band, Cyient DLM is available at P/E of 66.2x FY23 earnings. The firm specialises in the entire lifecycle of an electronics product, including design, build and maintenance, and is offering a fresh issue of equity shares. Key Points
Economic TimesBinance ordered to stop all digital currency services in Belgium
Binance ordered to stop all digital currency services in Belgium. To learn more, read the full story on The Hindu. Key Points
The HinduSBI Fixed Deposit offering highest interest rate to senior citizens to close this month. Details
SBI Amrit Kalash Deposit Last Date: Under Amrit Kalash, an SBI customer can book a fixed deposit of 400 days. The interest rate currently being offered to senior citizens under this special scheme is 7.6%, Key Points
Financialexpress
Jio plans another disruption with Air Fiber that can declutter homes, but add to rival's web of worries
In the same month that Bharti Airtel launched its Xstream AirFiber, Reliance Industries Chairman Mukesh Ambani has announced a similar product in the Reliance Jio AirFiber. While the FWA market is still finding its feet in India, reports of cut-throat pricing indicate the industry leader is aiming for another disruption in the nascent market. Key Points
Economic TimesStrictly follow govt guidelines while offering sacrifice on Eid, do not share pictures of slaughtered anim
Muslims across the globe offer sacrifice of animals as permitted by law in their respective countries as a symbol of the willingness and obedience to God that Prophet Ibraham showed in offering his son Ismael as sacrifice. The Jamiat chief asserted that every possible effort should be made so that no one gets hurt by the actions of Muslims. Key Points
Economic TimesESAF Small Finance Bank makes strong debut, lists at 20% premium to IPO price
The company’s shares opened at Rs 71 on the National Stock Exchange and Rs 71.9 on the Bombay Stock Exchange, surpassing the IPO price of Rs 60. Key Points
India TodayThese 18 banks offer more than 7% interest rate on 1-year FDs
There are still multiple banks who are offering more than 7% interest rate on one year fixed deposits (FD). Some of these banks include Kotak Mahindra Bank, Fincare Small Finance Bank, Indusind Bank among other banks. Check here to know more. Key Points
Economic TimesIndia, Korea and Japan to see more IPOs while China stalls
While IPOs returned to major venues in Europe and the US, the slowdown in Asia was mostly due to Beijings decision to ramp up scrutiny of domestic new share sales as it tries to boost confidence in its equities market. Large deals in Hong Kong also vanished amid concerns about Chinas economy. The city hasnt hosted an offering larger than $1 billion since Oct. 2022. Key Points
Economic Times
Reddit Sees More Than 20% Sales Growth in 2024 in IPO Roadshow
Reddit Inc. is telling potential investors in its initial public offering that it expects revenue in 2024 to grow by more than 20% versus the previous year, according to a person familiar with the situation. Key Points
mintJG Chemicals made stock market debut with over 5% discount
New Delhi [India], March 13 (ANI): The shares of JG Chemicals made a disappointing debut on the stock exchanges on Wednesday as it listed with an over 5 per cent discount over its issue price. The shares were listed at Rs 209 as against its issue price of Rs 221. Show Full Article The Rs […] Key Points
ThePrintThis Indian-origin mom's $1.3 billion startup is changing school conveyance in US. Details here
Zum, founded by Ritu Narayan, started as a self-financed Uber-like platform offering parents a reliable transportation solution with a mobile app for scheduling rides and tracking children's locations, now worth $1.3 billion with contracts in multiple states. Key Points
mintBank of America’s Merrill, Wells Fargo Offer Bitcoin ETF Products For Clients
Bank of America Corp.’s Merrill arm and Wells Fargo & Co.’s brokerage unit are offering access to ETFs that invest directly in Bitcoin, underscoring the increasing acceptance of the products by mainstream firms. Key Points
mintUnveiling the top brands of 2024: A year of innovation, sustainability, and consumer connection
India Business News: Discover the top brands of 2024 that have revolutionized their industries with innovation, sustainability, and consumer connection. Explore their success stories and contributions to India's economic prowess and global impact. Key Points
Times Of India
EV startup Vidyut raises $10 million
India Business News: Vidyut, a full-stack EV ecosystem startup, has raised $10 million in a Series A round. The startup aims at facilitating easier EV ownership for small and large businesses by offering solutions such as EV insurance, lifecycle management and EV resale. Key Points
Times Of IndiaWarburg-backed Perfios weighing $500 million IPO
Perfios Software Solutions Pvt is considering a $500 million initial public offering (IPO) in India. The IPO could value the company at $2 billion. Perfios provides software-as-a-service to banks, insurers, and financial services firms in India, the Middle East, and southeast Asia. Key Points
Economic TimesTime to be contrarian? These 6 bank stocks can give over 18% returns
While the bank nifty might be facing pressure in today’s trading session, it is because of the three private banks with high weightage in the indices witnessing selling pressure.For contrarian and short term traders there might be an opportunity given the fact that it has been witnessed that such moves are followed by short covering sooner or later. But again this probably is trade for high risk traders or investors who have the ability to take a stand against market narrative. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members. Key Points
Economic TimesInox India IPO: What GMP indicates ahead of subscription on Thursday
The issue is completely an offer for sale (OFS) of 2.21 crore shares with a face value of Rs 2 each. There is no fresh issue segment in the IPO. Key Points
Economic TimesElon Musk's AI firm xAI files to raise up to $1 bln in equity offering
Elon Musk's artificial intelligence startup xAI has filed with the U.S. securities regulator to raise up to $1 billion in an equity offering, according to a filing on Tuesday. Key Points
Reuters
Black Friday unveils irresistible tech deals
The Black Friday season is well-known for offering substantial savings on electronics, presenting an ideal opportunity to grab fantastic deals. These discounts transcend a singular day, persisting throughout Black Friday, extending into the weekend, and lingering into the realm of Cyber Monday. The abundance of savings has already commenced, with noteworthy bargains capturing the interest of savvy shoppers. Key Points
Economic TimesIndia's Tata Technologies' $365 mln IPO oversubscribed within hours of first day of bids
India's Tata Technologies' much-awaited 30.43 billion-rupee ($365.55 million) initial public offering was oversubscribed within hours after bidding opened on Wednesday, signaling strong demand for the Tata Group's first public float in nearly two decades. Key Points
ReutersPeople offer prayers in Mohammed Shami's village ahead of World Cup final match
In a video, a group of people is seen offering prayers for team India's win against Australia in WC 2023. It is recorded in Mohammed Shami's village Amroha. | Trending Key Points
Hindustan TimesHacked, but ethically! DU's Campus of Open Learning has new certification course
Delhi University’s Campus of Open Learning (COL) is now offering a four-month course in ethical hacking. Experts weigh in on its benefits. Key Points
Hindustan TimesChatGPT makers are trying to hire Google AI employees by offering them pay packages of up to $10 million
OpenAI is reportedly offering Google AI employees pay packages of up to $10 million to join their team, intensifying the competition with the tech giant. The AI company has also been successful in recruiting experts from Google and Meta, as it continues to focus on aligning AI systems with human interests. Key Points
India Today
As air turns toxic, NCR companies take steps to protect staff
The AQI crossed 700 (a value above 150 is considered unhealthy) in many parts of the NCR on Thursday, forcing the shutting down of primary schools. Over a dozen companies including Deloitte, KPMG, Panasonic, BigBasket, BluSmart, Zepto and CIEL HR Services that ET spoke with said they are taking initiatives include offering work-from-home options to employees, providing masks at offices and to frontline staff, installing air purifiers and indoor plants as well having a doctor on call. Key Points
Economic TimesIndian cookware maker Cello World's IPO garners strong response
Indian kitchenware products maker Cello World's initial public offering (IPO) was oversubscribed by nearly 40 times, higher than similar IPOs recently, inviting bids worth 556.19 billion rupees ($6.7 billion), exchange data showed on Wednesday. Key Points
ReutersSebi turns up heat on influencers as stocks boom
The Securities and Exchange Board of India last week barred Mohammad Nasiruddin Ansari and two other entities linked to him from the market and ordered them to refund 172 million rupees ($2.1 million) taken from followers. Ansaris YouTube channel has close to half-a-million subscribers. His web portal provided investment advice under the guise of offering educational training, Sebi said. Key Points
Economic TimesJapan raises bullet train rail pass prices by 70% for tourists
Bullet train rail pass offering 14 days of unlimited travel across Japan now costs ¥80,000 ($534), up from ¥47,250. The price hikes vary from about 65% to 77%. | Travel Key Points
Hindustan TimesMedi Assist files DRHP with SEBI in second attempt to go public, issue entirely an OFS of 2.8 crore shares
According to the fresh DRHP, the initial public offering (IPO) is entirely an offer for sale of up to 2.8 crore equity shares of Medi Assist by promoters and existing shareholders. Key Points
mint
Aeroflex Industries IPO opens. Should you subscribe to the issue?
Aeroflex Industries is a market leader in the field of metallic flexible flow solutions, offering a comprehensive range of products including corrugated stainless steel hoses and interlock flexible metal hoses. The company has grown at more than 37% revenue CAGR in the last three years, operating at more than 4.85 times asset turnover, over 20% EBITA margins and generating approximately 32% ROCE. Key Points
Economic TimesIsrael's Oddity seeks higher valuation in US IPO
Oddity Tech said on Monday it was targeting a valuation of $1.92 billion in its U.S. initial public offering (IPO), more than 13% higher than what it was previously seeking. Key Points
ReutersDrone Destination IPO: GMP, subscription status on day 2, and other key details
Drone Destination Ltd's IPO, with a price band of ₹62-65 per share, has been subscribed 8.95 times on day 1 so far. The company hopes to generate ₹44.20 crore with the IPO. Key Points
mintETtech In-depth | Micropayments: Internet's 'sachet moment' in India
Be it shelling out Rs 10 for a tarot card reading session online, Rs 50 for a quick online game or Rs 30 in virtual offering at a temple, micropayments, enabled by UPI in India, are driving new-age users to consume and pay for a variety of services on the Internet. For apps, this avenue for revenue generation means big business. Key Points
Economic TimesForeigners flock to snap up 18.75% yield on Pallonji group company's low-grade bond
Indian companies experienced the largest influx of foreign investment in their bonds in five years as the countrys largest-ever low-grade local currency debt sale attracted overseas investors enticed by the high yields. Goswami Infratech, a Shapoorji Pallonji group company, raised INR 143 billion ($1.7 billion) by selling zero-coupon bonds through private placement, offering a yield of 18.75%. This surge in interest resulted in foreign investors buying INR 47.1 billion of Indian local company debt on Wednesday, the highest inflow since 2018. The positive sentiment is due to strong economic growth, improved corporate balance sheets, and the Indian central bank's decision to pause interest rate hikes. Key Points
Economic Times
Options trader PR Sundar settles investment advisory case with Sebi, to not deal in securities for a year
Options trader P R Sundar settled a case with Sebi by returning the advisory fee and disgorging over Rs 6 crore. This was related to Mansun Consulting, of which he is a promoter, offering investment advice without registration. Sebi found various complaints about Sunar running a website and offering packages for advisory services, which were communicated to clients. Upon inquiry, recommendations provided by Mansun were found to fall under the category of investment advice .The entities agreed to pay Rs 46.8 lakh and a disgorgement amount of Rs 6.07 crore, along with refraining from dealing in securities in India for a year. Key Points
Economic TimesBlackstone's Nexus Select Trust IPO:Non Institutional Investors show interest so far; check details
Nexus Select Trust IPO: The issue that opened for subscription on Tuesday, May 9, and closes on Thursday, May 11. For the proposed IPO, the company has set the price range at ₹95 to ₹100 per equity share. Key Points
mint