Mazagon Dock Shipbuilders IPO: Grey market premium at about 100%
Wed, Sep 30, 2020 2:10 PM

Mazagon Dock Shipbuilders IPO: Grey market premium at about 100%

The demand from investors for Mazagon Dock Shipbuilders, the major state-owned defence company in India, has been strong so far, as the issue fully subscribed on the first day itself on September 29 and its price has been doubled in the grey market. The company is available at Rs 125-145 per share premium over the issue price band of Rs 135-145 per share.

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Uber considering acquisition of Daimler-BMW’s Free Now ride service: Report
Wed, Sep 30, 2020 11:11 AM

Uber considering acquisition of Daimler-BMW’s Free Now ride service: Report

Uber Technologies is looking to potentially acquire Free Now, Daimler AG and BMW AG’s jointly held cab riding service, to boost its market share in Europe and Latin America. Early discussions for the acquisition have been held, but “there is no certainty the deliberations will lead to a transaction,” sources said as per a Bloomberg report.

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PFC signs MoU with Govt. of India detailing targets for FY20-21
Wed, Sep 30, 2020 10:46 AM

PFC signs MoU with Govt. of India detailing targets for FY20-21

Power Finance Corporation Ltd (PFC) has signed a performance-based ‘Memorandum of Understanding’ (MoU) with the Ministry of Power, Govt. of India detailing various targets to be achieved by PFC during FY20-21. The MoU has been signed by Sanjiv Nandan Sahai, Secretary (Power), Govt. of India and R.S. Dhillon, CMD, PFC in presence of senior officials of MOP and PFC.

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Godrej Properties bags a new residential project in Mumbai
Wed, Sep 30, 2020 10:44 AM

Godrej Properties bags a new residential project in Mumbai

Real estate developer, Godrej Properties on Wednesday announced entering into an agreement to acquire a well-located land parcel in Kalyan, Mumbai. According to the regulatory filing, spread across 20 acres, this project will offer approximately 1,39,000 square meters of the saleable area comprising primarily of residential apartments of varied configurations with a small amount of retail space.

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Va Tech Wabag jumps on news Rekha Jhunjhunwala will invest Rs 80 crore
Wed, Sep 30, 2020 10:05 AM

Va Tech Wabag jumps on news Rekha Jhunjhunwala will invest Rs 80 crore

Va Tech Wabag share price jumped in the morning trade on September 30 after the announcement Rekha Rakesh Jhunjhunwala, wife of ace investor Rakesh Jhunjhunwala, will invest Rs 80 crore in VA Tech Wabag, the Indian multinational player in the water treatment industry. Founded in Breslau in 1924, the company is focussed on water treatment for municipal and industrial users.

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Amazon India gets ₹1,125 cr top-up
Wed, Sep 30, 2020 9:36 AM

Amazon India gets ₹1,125 cr top-up

US e-commerce company Amazon has infused ₹1,125 crore in fresh capital into an Indian unit, Amazon Seller Services Pvt. Ltd, according to regulatory filings sourced from Tofler. Amazon Corporate Holdings Pvt. Ltd, Singapore, and Amazon.com Inc., Mauritius, have put in the funding. This top-up comes just two months after a ₹2,310 crore fund infusion into the same India unit.

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DoT to oppose Aircel, RCom spectrum sale unless AGR dues paid: Report
Wed, Sep 30, 2020 9:29 AM

DoT to oppose Aircel, RCom spectrum sale unless AGR dues paid: Report

The government might oppose transfer of the right to use spectrum of bankrupt telecom companies such Aircel and Reliance Communications (RCom), unless the adjusted gross revenue (AGR) dues are cleared. The Department of Telecommunications (DoT) will challenge the move before the National Company Law Appellate Tribunal (NCLAT) makes a decision, according to a report by The Economic Times.

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UTI AMC IPO witnesses lacklustre demand on Day 1
Wed, Sep 30, 2020 9:28 AM

UTI AMC IPO witnesses lacklustre demand on Day 1

Demand for UTI Asset Management Company (AMC) was dim during the first day of the company's initial public offering (IPO). The company bagged just 27% subscription of the total issue size. Biddings from qualified institutional buyers (QIB) was nearly nil. A somewhat similar trend was seen from high net-worth individuals (HNIs).

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TikTok launches in-app guide on US election to battle misinformation
Wed, Sep 30, 2020 9:07 AM

TikTok launches in-app guide on US election to battle misinformation

TikTok on Tuesday launched a US election guide as part of an effort to battle misinformation on the wildly popular video-sharing app that the White House has targeted for a ban. Facebook, Twitter, YouTube and other internet platforms have all ramped up efforts to provide users reliable news and avoid being used to mislead voters during a contentious US election.

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F&O traders expect 20% move in Vodafone Idea
Wed, Sep 30, 2020 9:03 AM

F&O traders expect 20% move in Vodafone Idea

Traders have sold large number of call and put options on Vi (Vodafone Idea) ahead of the company’s AGM Wednesday, to seek nod for fund-raising. Premiums paid by buyers indicate the option sellers are hedging themselves against sharp movement in the stock. Sellers have factored in 20 % move from 10 either side. The stock is expected to move in a range of Rs 7.95-Rs 12.05, options data showed.

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General Atlantic to invest Rs 3675 crore for 0.84% stake in Reliance Retail
Wed, Sep 30, 2020 8:59 AM

General Atlantic to invest Rs 3675 crore for 0.84% stake in Reliance Retail

Private equity firm General Atlantic Partners will invest Rs 3,675 crore in Reliance Retail in exchange for a 0.84 percent stake, the third deal sealed by the Reliance Industries Ltd (RIL) unit in as many weeks.  The investment values Reliance Retail at a pre-money equity value of Rs 4.28 lakh crore, RIL said in an exchange filing on September 30.

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Mubadala in advanced talks to invest up to $1 bn in Reliance Retail
Wed, Sep 30, 2020 12:19 AM

Mubadala in advanced talks to invest up to $1 bn in Reliance Retail

Abu Dhabi state fund Mubadala Investment Co is in advanced talks to invest up to $1 billion in the retail division of India's Reliance Industries Ltd, two sources told Reuters, as investor interest in the Indian company surges. Reliance Retail is on a fund raising spree and has secured around $1.8 billion in the past few weeks from KKR & Co and Silver Lake Partners.

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J&K Bank gets shareholders' nod to raise up to Rs 4,500 cr capital
Wed, Sep 30, 2020 12:16 AM

J&K Bank gets shareholders' nod to raise up to Rs 4,500 cr capital

Jammu and Kashmir Bank on Tuesday said it has received shareholders' nod to raise up to Rs 4,500 crore through equity and debt to fund its business plan. Besides, the shareholders also approved the proposal to increase the authorised share capital of the bank from Rs 95 crore to Rs 250 crore in its annual general meeting (AGM) held on September 28.

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PFC gets shareholders' nod to raise borrowing limit
Wed, Sep 30, 2020 12:14 AM

PFC gets shareholders' nod to raise borrowing limit

State-owned Power Finance Corporation (PFC) has received shareholders' approval to increase its borrowing limit to Rs six lakh crore from existing Rs four lakh crore. All the resolutions proposed in the annual general meeting (AGM) on September 29, 2020, were passed by the requisite majority, it said in a BSE filing on Tuesday.

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Indiabulls Ventures raises Rs 441 crore from Ribbit Capital, others
Wed, Sep 30, 2020 12:12 AM

Indiabulls Ventures raises Rs 441 crore from Ribbit Capital, others

Indiabulls Ventures on Tuesday said it has raised Rs 441 crore by selling shares to a clutch of investors, including American fintech investor Ribbit Capital. Other investors include New York Stock Exchange-listed Inteligo Bank, US-based First Royalty Ventures LLC and San Francisco-based TIMF Holdings, Indiabulls Ventures said in a regulatory filing.

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