Stock Market

LIC IPO| Government Revises Price Band And More

LIC IPO| Government Revises Price Band And More

LIC IPO ━ the wait is over as the highest Initial Public Offering is expected to open on May 2. The central government has set the price band for the initial offering of Life Corporation of India at Rs. 902-949 and may offer a discount of Rs 60 to policyholders.  On the other hand, retail…

Elon Musk and Twitter: What’s Going On Between Them?

Elon Musk and Twitter: What’s Going On Between Them?

Tesla CEO Elon Musk made a great turnabout in which he disclosed his massive stake in the social media company Twitter. He got a seat on its board and publicly floated drastic changes, and then turned down the board role ━ all happened in a week.  Musk now holds roughly 9% of a stake in…

Reliance Retail Picks Up 89% Stake in Lingerie Brand Clovia

Reliance Retail Picks Up 89% Stake in Lingerie Brand Clovia

Reliance Retail Venture Limited acquired an 89% stake in women’s lingerie brand Clovia, owned and operated by Pankaj Panda fashion Private Limited. RRVL invested Rs. 950 Cr. in the company through a combination of secondary stake purchase and primary investment, as per the official statement.  Clovia is launched in 2013 by Pankaj Vermani, Neha Kant…

Zomato Pick Up 16.66% Stake in Mukunda Foods

Zomato Pick Up 16.66% Stake in Mukunda Foods

Zomato board on March 15 picked up a 16.66% stake in Mukunda Foods Private Limited for cash consideration of Rs. 37.5 crore. The acquisition will be made via a subscription of 13,289 convertible preference shares and 10 % equity shares.  Zomato said in a regulatory filing, “We are glad to inform that our board of…

LIC: SEBI Gives Nod to Launch India’s Highest IPO Ever

LIC: SEBI Gives Nod to Launch India’s Highest IPO Ever

The market regulator has approved the much-awaited IPO of 2022. According to the sources, SEBI has issued an observation letter. LIC had filed it’s Draft Red Herring Prospectus (DRHP) with SEBI in February. As per DRHP, the issue would be an offer to sell 31,62,49,885 (31.62 crores) equity shares by the government, which holds a…

Burman’s Group To Take Control Of Eveready As Khaitan’s Quit

Burman’s Group To Take Control Of Eveready As Khaitan’s Quit

Eveready Industries Chairman and Managing Director, Aditya Khaitan and Amritanshu Khaitan, announced their resignation after Burman Group takeover the bid.  The resignation of the Khaitans came two days after the Burman’s, founder of Dabur, a food company, made an open offer for a Kolkata-based dry cell company.  After their resignation, Suvamoy Saha is assumed to…

Hasura Raised $100 Million, Become 10th Startup Unicorn of 2022

Hasura Raised $100 Million, Become 10th Startup Unicorn of 2022

Hausra, a Bengaluru and US-based open-source engine, has raised $100 million in fresh funding led by Greeoaks capital. In the funding round, the existing investor Nexus Venture Partners, Lightspeed Partners and Vertex Ventures also participated.   With this latest fundraise, Hasura becomes the tenth startup India’s unicorn of this year. It joins like the edtech firm…

LIC IPO: Key Things To Know About The Highest IPO In India

LIC IPO: Key Things To Know About The Highest IPO In India

LIC, Life Corporation of India, the country’s largest and most reliable issuance company, is to shake the stock market with the highest IPO, Initial Public Offering, to raise up to 65,000 crores, making it the biggest listed financial service provider after HDFC bank.  The government plans to sell 5% of its stake in the IPO,…

Approves Tata Steel’s Bid to Acquire 93.71% Equity in NINL

Approves Tata Steel’s Bid to Acquire 93.71% Equity in NINL

The Government on Monday has approved the highest bid of Tata Steel Long Products Limited for acquiring 93.71% equity in Neelachal Ispat Nigam Ltd (NINL), a joint venture of 4 CPSEs ─ MMTC, NMDC, BHEL, MECON, and 2 Odisha Government-owned companies ─ OMC and IPICOL.  This is a combined decision of three Ministers ─ Transport…

Reliance Retail Acquires 54% Shares in Addverb For ₹ 983 Cr.

Reliance Retail Acquires 54% Shares in Addverb For ₹ 983 Cr.

Reliance Retail Venture Ltd., the retail unit of Reliance Industries Ltd., has now acquired 54% stakes in Robotic Company, Addverb Technologies for ₹ 983 Cr. ($ 132 million approximately). Before this, Reliance has picked 25.5% stacks worth in Dunzo for $240 million.  With this, the company is expecting business extension in Europe and US and…

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