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 HUL’s 51% acquisition of Zywie Ventures, also find out about Wipro’s leadership changes Business Term of the Day: Financial inclusion Read more
In this episode, find out about HUL’s 51% acquisition of Zywie Ventures, also find out about Wipro’s leadership changes Business Term of the Day: Financial inclusion Read more
In this episode, find out about APSEZ’s acquisition of Haifa Port Company, also find out about Axis Bank’s revised agreement with Max Financial for the insurance venture Business ... Read more
In this episode, find out about APSEZ’s acquisition of Haifa Port Company, also find out about Axis Bank’s revised agreement with Max Financial for the insurance venture Business Term of the Day: Spinoff Read more
In this episode, find out about the progress of IDBI bank privatisation, also find out why TCS reported lower expected earnings Business Term of the Day: ChatGPT Read more
In this episode, find out about the progress of IDBI bank privatisation, also find out why TCS reported lower expected earnings Business Term of the Day: ChatGPT Read more
In this episode, find out about SEBI’s decision to allow govt holding in IDBI Bank to be reclassified as public after divestment, also find out about L&T Realty Developers’ pla ... Read more
In this episode, find out about SEBI’s decision to allow govt holding in IDBI Bank to be reclassified as public after divestment, also find out about L&T Realty Developers’ plan to sell a stake in Think Tower Developers Business Term of the Day: Plant Load Factor Read more
In this episode, find out about Biju’s founder’s fundraising plan to buyback as much as 15% of the firm, also find out about NARCL’s bid for Srei cos Business Term of the Day: Enc ... Read more
In this episode, find out about Biju’s founder’s fundraising plan to buyback as much as 15% of the firm, also find out about NARCL’s bid for Srei cos Business Term of the Day: Encumbrance Read more
In this episode, find out about Amazon’s plans to enter electricity trading, also find out about Reliance Retail FCMG arm’s move to acquire a stake in Sosyo Hajoori Beverages Busi ... Read more
In this episode, find out about Amazon’s plans to enter electricity trading, also find out about Reliance Retail FCMG arm’s move to acquire a stake in Sosyo Hajoori Beverages Business Term of the Day: Loan To Value Ratio Read more
In this episode of Mint Business News, fint out about BharatPe's founder stepping down as CEO and Jet Airways' Revival Plan. Business Term of the day - Credit Spread Read more
In this episode of Mint Business News, fint out about BharatPe's founder stepping down as CEO and Jet Airways' Revival Plan. Business Term of the day - Credit Spread Read more
In this episode of Mint Business News, find out about Tata Motors's acquisition plan of Ford India’s manufacturing plant at Sanand in Gujarat and also find out about Religare Ente ... Read more
In this episode of Mint Business News, find out about Tata Motors's acquisition plan of Ford India’s manufacturing plant at Sanand in Gujarat and also find out about Religare Enterprises' settlement issue. Read more
In this episode, find out about JK Cement’s foray into the paint’s business, also find out about Yes Bank’s decision to transfer Dish TV shares to JC Flowers ARC Business Term of ... Read more
In this episode, find out about JK Cement’s foray into the paint’s business, also find out about Yes Bank’s decision to transfer Dish TV shares to JC Flowers ARC Business Term of the Day: Asset Reconstruction Company Read more
In this episode, find out about the listing of Sula Vineyard on the exchanges, also find out about Zee’s re-entry into the sports broadcasting business Business Term of the Day: B ... Read more
In this episode, find out about the listing of Sula Vineyard on the exchanges, also find out about Zee’s re-entry into the sports broadcasting business Business Term of the Day: Buyback Read more