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 NCLT's order on Zee Ent, also about L&T's joint venture partnership for submarine worth Rs 43,500 crore Business Term of the Day: Production Lin ... Read more
In this episode, find out about NCLT's order on Zee Ent, also about L&T's joint venture partnership for submarine worth Rs 43,500 crore Business Term of the Day: Production Linked Scheme (PLI) Read more
In this episode, find out about Bajaj Auto seeking RBI nod for new NBFC, also about IOC's Rs 22,000 crore fund raise. Business Term of the Day: Refinance Read more
In this episode, find out about Bajaj Auto seeking RBI nod for new NBFC, also about IOC's Rs 22,000 crore fund raise. Business Term of the Day: Refinance Read more
In this episode, find out about IdeaForge Technology's stellar listing on the bourses, also about TCS training its employees on generative AI. Business Term of the Day: Currency in ... Read more
In this episode, find out about IdeaForge Technology's stellar listing on the bourses, also about TCS training its employees on generative AI. Business Term of the Day: Currency internationalisation Read more
In this episode, find out about LIC offloading 2% stake in India Cement, also about Tata AMC on increasing stake to 7% in DCB Bank. Business Term of the Day: Aircraft lease Read more
In this episode, find out about LIC offloading 2% stake in India Cement, also about Tata AMC on increasing stake to 7% in DCB Bank. Business Term of the Day: Aircraft lease Read more
In this episode, find out about CreditAccess selling 5.8% stake in CreditAccess Grameen, PowerGrid's idea to aggregate investment of Rs 388.94 crore, Natarajan Chandrasekaran's dee ... Read more
In this episode, find out about CreditAccess selling 5.8% stake in CreditAccess Grameen, PowerGrid's idea to aggregate investment of Rs 388.94 crore, Natarajan Chandrasekaran's deep concern over the TCS controversy, MCX services deal with software vendor 63 Moons Technologies and also about BPCL's plan to raise Rs 18,000 crore via rights issue. Business Term of the Day: Account Aggregator Read more
In this episode, find out about Vedanta Foxconn's plans to resubmit application to set up an electronic chip manufacturing plant, also about SBI's picking up SBI Capital's 20% stak ... Read more
In this episode, find out about Vedanta Foxconn's plans to resubmit application to set up an electronic chip manufacturing plant, also about SBI's picking up SBI Capital's 20% stake in SBI Pension Fund Business Term of the Day: Refinance. Read more
In this episode, find out about Federal Bank appointing AP Hota as the part-time chairman, also about SAT's hearing on the Zee-Sebi case Business Term of the Day: Expense of Mana ... Read more
In this episode, find out about Federal Bank appointing AP Hota as the part-time chairman, also about SAT's hearing on the Zee-Sebi case Business Term of the Day: Expense of Management. Read more
In this episode, find out about Hinduja Group’s plan to invest Rs 10,000 crore in Indusind Bank, also about Asian Paints’ acquisition of stake in White Teak Business Term of the ... Read more
In this episode, find out about Hinduja Group’s plan to invest Rs 10,000 crore in Indusind Bank, also about Asian Paints’ acquisition of stake in White Teak Business Term of the Day: Financial influencer Read more
In this episode, find out about SEBI's ban on Eros International & its promoters, also about RBI asking the PTC India Financial Services’ CEO to step down Business Term of th ... Read more
In this episode, find out about SEBI's ban on Eros International & its promoters, also about RBI asking the PTC India Financial Services’ CEO to step down Business Term of the Day: EdTech Read more
In this episode, find out about Carlyle offloading a 2.5% stake in Delhivery via a block deal, and also about TCS’s $1.1 bn deal from UK’ Nest. Business Term of the Day: Insurance ... Read more
In this episode, find out about Carlyle offloading a 2.5% stake in Delhivery via a block deal, and also about TCS’s $1.1 bn deal from UK’ Nest. Business Term of the Day: Insurance Broker Read more
