Oyo may back out of IPO plan, opt for private raise
In a response to emailed queries by ET, Oyo said the information is inaccurate. Oyo’s first public offer filing was returned by the markets regulator in January 2023, requiring the SoftBank-backed firm to refile its draft red herring prospectus (DRHP) with updates and revisions. The startup then made a confidential pre-filing with Sebi for a […]
Bloomberg panel favours India G-secs in EM index
“Following the advisory committee’s favourable recommendation, the process now goes to the relevant global index body,” one of the people said. “Their product teams are working out modalities of facilitating inclusion by September or October.”
Sebi cautions investors against unregistered entities promising assured returns
“Investors should be cautious of any entity that promises assured or exceptionally high returns. The principle of ‘higher returns come with higher risks of losing your money altogether’ holds true in the securities market,” Sebi said in a statement.
Yes Bank set to recover 50% of dues from sale of Katerra India debt
After this, Yes Bank held a Swiss challenge auction with Prudent ARC’s offer as an anchor offer, giving the ARC the first right to match any counter-offer the private lender would receive. Arcil gave a counter-offer of ₹203.4 crore, which Prudent ARC matched on Monday, the people cited above said. Prudent ARC and Yes Bank […]
India-China weight gap shrinks to historic low
“We expect India’s growth trajectory to continue, aiming to surpass a 21-22% share in the MSCI EM index by the latter half of the year,” said Abhilash Pagaria, head – alternative & quantitative research, Nuvama Institutional Equities.
Sebi asks companies for accurate details on end use of IPO funds
Currently, if most IPO proceeds are to be used for capital expenditure, then the lock-in for the promoters’ shares is 36 months. But if the IPO-bound company states that the objective is for loan repayments, then the lock-in is only for 18 months.
Hindalco crashes over 12% on capex surge at Novelis
US-based Novelis Inc – a subsidiary of the company – said that the company will now spend $4.1 billion on the integrated rolling and recycling plant to be set up in Bay Minette in the US, up a staggering 65% from the previously announced capex of $2.7-$2.8 billion.
Moody’s upgrades outlook on 4 Adani Group companies to ‘stable’
The four companies which have seen their rating outlook changed to stable from negative are Adani Green Energy Limited, Adani Green Energy Restricted Group 1, Adani Transmission Step-One Limited and Adani Electricity Mumbai Limited.