BUSINESS
LIC set for a massive listing on the bourse, Here are India's Top 10 IPOs ever
Life Insurance Corporation of India is all set to issue its eagerly-awaited Initial Public Offering (IPO). LIC plans to sell 5 percent of its stake via the public offer. This has been touted as India’s largest IPO which has been predicted to fetch anywhere between Rs 60,000 crore to Rs 70,000 crore as per reports. This will make LIC the largest company in India by market capitalization. Amid this IPO frenzy, here’s a list of India’s top 10 IPOs issued ever:
Permanent work from home jobs a hit with Indian jobseekers: Report
The onset of the Covid-19 pandemic made working from home the new normal for many job roles. According to Naukri.com, the job platform has seen 93,000 permanent and temporary remote jobs being listed since July last year. Of these, 22 per cent jobs were for permanent remote roles only. In the last six months, Naukri.com has seen 32 lakh job searches for permanent and temporary remote jobs, by Indian job seekers.
Eupheus Learning acquires SaaS-based firm SchoolMitra
This acquisition will make SchoolMitra's 21st century school OS accessible to 20,000+ schools of Eupheus Learning, simplifying the lives of all the stakeholders, including parents, teachers, students and the school administration. Both the firms share a common vision to enable schools with modern technologies and innovations, digitalising the Indian education sector.
Value buying boosts equity indices; Sensex gains over 1,500 pts
The upward movement comes a day after a sharp correction took place on the back of heightened tensions between Russia and Ukraine. Accordingly, on Tuesday attractive stock valuations brought a healthy influx of domestic institutional as well as retail funds into the market. In the initial trade, both the indices had a gap up opening.
India's Jan YoY exports rise over 25%
The exports during January 2021 stood at $27.54 billion. The data by the Ministry of Commerce and Industry showed that in comparison to January 2020, last month's exports rose by 33.45 percent.
Top crypto lender to pay $100 mn fine for violating securities law
In more bad news for the unregulated world of cryptocurrencies, popular crypto lender BlockFi will have to pay $100 million in penalties in the US for operating as an unregistered investment company. The company's interest accounts, which let users earn returns on cryptocurrencies like Bitcoin and Ethereum, were found to be unregistered securities.
Vedanta, Foxconn to set up joint venture to manufacture semiconductors in India
“This first-of-its-kind joint venture between the two companies will support Indian Prime Minister Narendra Modi’s vision to create an ecosystem for semiconductor manufacturing in India… Vedanta will hold the majority of the equity in the JV, while Foxconn will be the minority shareholder. Vedanta Chairman Anil Agarwal will be the Chairman of the joint venture company,” a press release by Foxconn read.
Russian, Italian leaders discuss cooperation for sustainable future
The visiting session of the Eurasian Forum convened business, political and science experts to identify opportunities for further development of joint action. The participants highlighted that business and economic diplomacy had acquired a decisive influence globally.
JB Chemicals & Pharmaceuticals Limited reports revenue growth of 10% to Rs 601cr in Q3 FY22
For the third quarter, the company recorded revenue of Rs 601 crore as compared to Rs 548 crore, registering growth of 10 per cent over the corresponding quarter of the previous financial year. Key points to consider when comparing Q3 FY22 v/s Q3 FY21.
Paytm logs new record in lending business, strengthens payments leadership
Paytm spokesperson said, "Paytm is witnessing a broad growth across our platform as we continue to register increased adoption of our lending products, Paytm Postpaid (BNPL), merchant loans and personal loans. We are also continuously expanding our offline payments business, with more devices being deployed across the country. ."
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