Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a US listing in 2023 instead of this year, two people directly aware of the plan said. Flipkart, which competes with Amazon.com Inc in India’s booming e-commerce space, had earlier set an IPO valuation goal of $50 billion. The main reason for waiting for the IPO is due to Flipkart’s internal plan to boost valuations further by focusing on two of its relatively new businesses—online healthcare services and travel bookings.
Mahindra & Mahindra: The carmaker said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co to South Korean electric carmaker Edison Motors Co had been terminated. The receiver of SsangYong cited Edison’s inability to deposit the bid amount for the termination of the deal, Mahindra said in an exchange filing.
NTPC: Maharashtra government has approved a joint venture between state-run MahaGenco and India’s largest power generator NTPC which will set up an ultra-mega solar power park with a total generation capacity of 2,500 MW.
Indiabulls Real Estate: The company approved the issue price of its Rs 1,500-crore QIB offering at Rs 106.38 per share.
Moving on to markets
The key benchmark indices are likely to start Friday’s session on a muted note ahead of the RBI’s crucial monetary policy announcement. At 7:45 am, the SGX Nifty futures were quoting at 17,750 levels, indicating an opening gain of 20-odd points for the Nifty50.
The market will keenly watch the Reserve Bank of India’s inflation and growth projections in the wake of the continued increase in oil and commodity prices. Many analysts, meanwhile, expect the central bank to keep the key rates unchanged.
Business Term of the day
Government borrowing plays an important role in government’s finances to meet its spending requirements. Government borrows through issue of government securities called G-secs and Treasury Bills. Borrowing is a loan taken by the government and falls under capital receipts in the Budget document.
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alterna ... Read more
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alternate Investment Fund (AIF) Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of ... Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of the Day: Angel investor Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: ... Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: Differential Voting Rights Read more
In this episode, find out why institutional investors voted against ACC, Ambuja resolutions, also about the fraud at Can Fin Homes. Business Term of the Day: Green finance Read more
In this episode, find out why institutional investors voted against ACC, Ambuja resolutions, also about the fraud at Can Fin Homes. Business Term of the Day: Green finance Read more
Description – In this episode, find out about ITC's de-merger plans also about Samvardhana Motherson's new global acquisition. Business Term of the Day: ChatGPT Read more
Description – In this episode, find out about ITC's de-merger plans also about Samvardhana Motherson's new global acquisition. Business Term of the Day: ChatGPT Read more
In this episode, find out why Reliance Industries reported decline in Q1 profit, also about HDFC Bank's growth target for this fiscal year. Business Term of the Day: Non-banking fi ... Read more
In this episode, find out why Reliance Industries reported decline in Q1 profit, also about HDFC Bank's growth target for this fiscal year. Business Term of the Day: Non-banking finance company Read more
In this episode, find out why Arbitrator has rejected Max healthcare's claim on Care Hospital, also about L&T's first share buyback plan. Business Term of the Day: Share buybac ... Read more
In this episode, find out why Arbitrator has rejected Max healthcare's claim on Care Hospital, also about L&T's first share buyback plan. Business Term of the Day: Share buyback Read more
In this episode, find out about BL Kashyap's contract from DLF, also about Piramal Pharma's capital raising plan. Business Term of the Day: Trust company Read more
In this episode, find out about BL Kashyap's contract from DLF, also about Piramal Pharma's capital raising plan. Business Term of the Day: Trust company Read more
In this episode, find out about NSE's pre-open session for Reliance, also about Sheela Foam's acquisitions. Business Term of the Day: Pre-open market session Read more
In this episode, find out about NSE's pre-open session for Reliance, also about Sheela Foam's acquisitions. Business Term of the Day: Pre-open market session Read more
