Koo confident of achieving target of 100 million users by 2021 end
Wed, Mar 17, 2021 8:46 AM

Koo confident of achieving target of 100 million users by 2021 end

Homegrown microblogging platform Koo is confident of achieving its target of 100 million users by the end of this year. “The downloads are still at a very healthy pace. The spike is not as big as it was some time back but it’s healthy growth. We have crossed about 4.5 million downloads and we want to get to 100 million by the end of the year,” Koo co-founder Mayank Bidwatka said.

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Retail investors dominates Kalyan IPO
Wed, Mar 17, 2021 8:43 AM

Retail investors dominates Kalyan IPO

The Rs 1,175-crore Warburg Pincus-backed Kalyan Jewellers IPO was subscribed 60% on the first day on Tuesday led by retail investors. The issue received bids for 57.2 million shares against the 95.7 million shares on offer. The retail investors’ portion was subscribed 1.11 times, while non-institutional investors subscribed 20% of the shares reserved for them.

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Huawei may initiate charging 5G royalties from Apple, Samsung
Wed, Mar 17, 2021 8:33 AM

Huawei may initiate charging 5G royalties from Apple, Samsung

Huawei Technologies will commence demanding mobile makers like Apple Inc. a “reasonable" fee for access to its trove of wireless 5G patents, potentially creating a lucrative revenue source by showcasing its global lead in next-generation networking. The world’s largest portfolio of 5G patents' owner will negotiate rates and potential cross-licensing with the iPhone maker and Samsung Electronics.

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Warburg exits three companies despite market slump
Wed, Mar 17, 2021 8:20 AM

Warburg exits three companies despite market slump

Warburg Pincus sold stakes in three companies in India in just a month. It helped the US private equity giant garner Rs 2,500 crore, even as the pandemic has slowed the overall pace of exits for buyout firms. Warburg Pincus carried out liquidity transactions in Bharti Telemedia Ltd, Gangavaram Port Ltd and Kalyan Jewellers India Ltd by selling fully or partly its investments in these companies.

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Vaccine nationalism threatens WHO’s 2021 goal of 2 bn doses: Poonawalla
Wed, Mar 17, 2021 8:11 AM

Vaccine nationalism threatens WHO’s 2021 goal of 2 bn doses: Poonawalla

Vaccine nationalism in countries including the U.S. and India may disrupt efforts by the World Health Organization to deliver 2 billion doses to poorer and middle-income nations by the end of 2021, said Adar Poonawalla. The head of the world’s biggest vaccine maker further added that countries are holding tight to their supplies and restricting access to materials needed to make more.

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Honda temporarily halting production at all US, Canada plants
Wed, Mar 17, 2021 8:04 AM

Honda temporarily halting production at all US, Canada plants

Honda Motor announced late Tuesday supply chain issues will force a halt to production at a majority of U.S. and Canadian auto plants for a week. The Japanese automaker said "the impact from COVID-19, congestion at various ports, the microchip shortage and severe winter weather over the past several weeks." Honda workers were notified of the production cuts Monday.

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Indian state refiners considering to reduce May Saudi oil imports
Wed, Mar 17, 2021 6:30 AM

Indian state refiners considering to reduce May Saudi oil imports

Indian state refiners eyeing to reduce oil imports from Saudi Arabia by about a quarter in May compared to average monthly purchases. It came after the government asked refiners to reduce dependence on Middle Eastern supplies. Indian Oil Corp, Bharat Petroleum Corp., Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd are preparing to lift about 10.8 million barrels in May.

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Bharat Forge launches new company for electric vehicle business
Wed, Mar 17, 2021 6:25 AM

Bharat Forge launches new company for electric vehicle business

Bharat Forge created a new firm Kalyani Powertrain to look into electric vehicle (EV) business initiatives. The newly formed subsidiary will look at organic and inorganic opportunities in the EV space. The objective of KPPL will be to engage in and conduct the business of scientific, technical and other research and development in any field, particularly in the field of electric mobility.

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Investors with long-term perspective can subscribe Tata Communications OFS
Wed, Mar 17, 2021 6:20 AM

Investors with long-term perspective can subscribe Tata Communications OFS

The non-retail portion of the Tata Communications OFS was subscribed 1.36 times on Tuesday.“While deal closures delays could have near term weakness in revenues, demand outlook is robust in the medium to long term,” said Bhupendra Tiwary, analyst, ICICI Securities. He added, "With stable performance and improved cash flow generation and deleveraging possibilities bode well for the company."

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$513 mn block deal in SBI Cards & Payment Services launched by Carlyle
Wed, Mar 17, 2021 6:15 AM

$513 mn block deal in SBI Cards & Payment Services launched by Carlyle

Carlyle has launched a block deal to sell around 4% stake in the credit card firm SBI Cards & Payment Services and raise around $513 mn. The offer price range is Rs 981.80/share to Rs 1,022.10/share (the upper end reflecting a 3.94% discount to the closing price of Rs 1,022.1 on 16th March), as per the term sheet. BofA Securities is the sole book-runner to the transaction.

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Second interim dividend of Rs 5 for FY20-21 declared by BPCL
Wed, Mar 17, 2021 6:05 AM

Second interim dividend of Rs 5 for FY20-21 declared by BPCL

Bharat Petroleum Corporation (BPCL) on March 16 declared a second interim dividend of Rs 5 apiece for the financial year 2020-21 (FY20-21). "The Board of Directors has declared 2nd interim dividend of Rs 5 per equity share of face value Rs 10 each for the financial year 2020-21," the oil refiner announced in a BSE filing. The record date for the same has been fixed as Saturday, March, 27.

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Vedanta ups open offer price for Indian unit to Rs 235/share
Wed, Mar 17, 2021 6:00 AM

Vedanta ups open offer price for Indian unit to Rs 235/share

Vedanta Resources on Tuesday raised the open offer price for buying shares in its flagship Indian firm to Rs 235 per share, nearly 4% higher than the current trading price. In Jan, Vedanta Resources offered to buy up to 10% in Vedanta Ltd at Rs 160 apiece. It on Tuesday raised the offer price to Rs 235 per share and offer size to 651 million shares representing 17.5% stake in Vedanta Ltd.

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Suryoday Small Finance Bank raises Rs 170 crore ahead of IPO
Wed, Mar 17, 2021 12:46 AM

Suryoday Small Finance Bank raises Rs 170 crore ahead of IPO

Suryoday Small Finance Bank on March 16 bagged Rs 170.12 crore from 13 anchor investors, ahead of its initial public offer that opens on March 17. The company plans to raise around Rs 581 crore from the issue. The lender in consultation with merchant bankers, finalised the allocation of 55,77,920 equity shares to anchor investors, at a price of Rs 305 apiece.

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Rs 5,300 cr to be raised by IndiGrid via term loans, NCDs
Wed, Mar 17, 2021 12:44 AM

Rs 5,300 cr to be raised by IndiGrid via term loans, NCDs

Infrastructure investment trust IndiGrid on Tuesday announced its board of investment managers has approved a proposal to raise up to Rs 5,300 crore, including through term loans and issuance of debentures. A meeting of the board of directors of IndiGrid Investment Managers Ltd acting in the capacity of Investment Manager to IndiGrid was held on Tuesday.

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Google to reduce in-app commission for Play Store billing to 15% globally
Wed, Mar 17, 2021 12:40 AM

Google to reduce in-app commission for Play Store billing to 15% globally

Google Inc. will decrease its Play Store billing fee globally to 15% from a flat 30%, announced earlier last year, for the first $1 million clocked by any developer for in-app purchases, every year, starting 1 July. Google’s Play’s billing system is applicable to only those developers on Google’s Play Store which sell digital goods and services.

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