Blackstone is picking up warrants in Federal Bank, which if converted would make it a 9.99% shareholder of the bank. The deal is for a total of Rs 6,196 cr 25% will be invested now and balance 75% within 18 months if Blackstone decides to convert. Per share price is fixed at Rs 227/ share, … Read more
AI startups are growing rapidly and attracting a growing share of market investment. With the AI hype reaching new heights, investors are putting large bets on its transformative abilities. The emergence of agentic AIs has further reinforced these hopes. While it is undeniable that large language models (LLMs) have become staple to many workplaces, the … Read more
Domestic steel prices have fallen to a five-year low, trading between Rs 47,000 and Rs 48,000 per tonne, based on BigMint market data.Several factors have influenced these prices. Rising imports, weak export demand and oversupply in the global market all contribute to the decline.Hot rolled coil (HRC) is priced at about Rs 47,150 per tonne. … Read more
The government’s decision to cut taxes on packaged food and personal care products disrupted Hindustan Unilever Ltd’s inventory pipeline and depressed its sales growth in the September quarter. The consumer goods giant, however, expects the drop in prices following the tax cuts and a good monsoon to boost consumer sentiment and boost sales in the … Read more
Emirates NBD is acquiring majority into RBL through primary capital infusion upto $3 Bn (~ Rs 26,850 cr). Consequent to the transaction, ENBD is also making mandatory open offer to purchase additional 26% from the public shareholders. Open offer price is @ Rs 280/ share against the current trading price of Rs 300/ share Depending … Read more
With inflation cooling, GST cuts boosting disposable incomes, and anticipated interest rate cuts likely to reduce borrowing costs, the country’s largest private lender expects loan demand to gather momentum in the second half of the financial year and beyond. “The triad of tax benefits, GST cuts and interest rate cuts seems to be working as … Read more
Peyush Bansal created a market disruption 15 years ago when he launched Lenskart with partners he met on LinkedIn, growing his eyewear business into a multi-billion dollar startup over the years. Now, he is in line to enter the billionaire club with the upcoming Lenskart IPO (initial public offering). Lenskart is planning to debut on … Read more
The Reserve Bank of India (RBI) on Thursday announced the final redemption price of Rs 12,567 per gram for the Sovereign Gold Bond (SGB) 2017-18 Series III, which is set to mature on October 16, 2025.The tranche, originally issued on October 16, 2017, had been open for subscription between October 9 and 11, 2017. The … Read more