Paytm buyback to benefit pre-IPO investors: Proxy Advisory Firm
“The buyback, even if SES takes the statement of the company with a pinch of salt, that only pre-IPO funds will be used, will allow all investors to cash out. IPO investors would be getting almost 25-30% of their cost whereas some pre-IPO investors would be getting more than 1,000 times their investment,” SES said […]
Acre ARC sole bidder for Nagarjuna Fertilizers’ debt
Lenders led by IDBI Bank had invited expressions of interest from asset reconstruction companies to take over the debt of NFC after attempts to initiate an insolvency process against the company were stonewalled by the promoter.
RR Kabel plans ₹2,500-cr IPO, TPG to sell 11% stake
Currently, US private equity fund TPG Capital owns a 21% stake in RR Kabel, which is part of RR Global – a $1.25-billion (over ₹10,300 crore) revenue conglomerate in the electrical sector with a presence in more than 90 countries.
Poonawalla Fincorp to sell housing unit to TPG arm for Rs 3,900 cr
Poonawalla Housing Finance is a lender in the affordable segment of the housing finance market with 128 branches across India. It had its assets under management at Rs 5612 crore at the end of September. It made a net profit of Rs 33 crore in the second quarter of FY23.
Bank Nifty at record high; more upside likely: Analysts
Extending gains to the fifth consecutive session, the Nifty Bank index, popularly known as Bank Nifty, closed above 44,000-levels for the first time on Wednesday. Analysts, in a poll, said the index could move up as much as 7% in the near-term over its close of 44,049.1 on Wednesday.
Fed downshifts to half-point hike, sees 5.1% rate next year
The Federal Open Market Committee raised its benchmark rate by 50 basis points to a 4.25% to 4.5% target range. Policymakers projected rates would end next year at 5.1%, according to their median forecast, before being cut to 4.1% in 2024 — a higher level than previously indicated.