MUMBAI: The IPO segment of the market is back to its glory days again. On Friday, the Rs 12,500-crore maiden offer for HDB Financial, an arm of HDFC Bank, was subscribed nearly 17 times with the total demand worth almost Rs 1.6 lakh crore. The IPO is set to become India’s most sought after large…
China-founded fast-fashion retailer Shein is planning to confidentially file a draft prospectus for an IPO in Hong Kong in the coming days, which would mark the third venue the company has sought to debut in, Reuters reported. The move to apply confidentially is rare in Hong Kong, where companies generally make such filings public. Shein…
The euro is set for its longest stretch of monthly gains in eight years, boosted by rising confidence in Europe’s economic prospects and a hunt for alternatives to the slumping dollar. The currency is up more than 3% in June, its sixth month of advances. Those gains have come as the dollar falters, with the…
NEW DELHI: Ahmedabad-based Torrent Pharma has revived talks with PE major KKR to buy its stake in Mumbai-based JB Chemicals & Pharmaceuticals in a deal which could cost around Rs 20,000 crore. KKR’s nearly 48% stake in JB Chem is valued approximately Rs 13,400 crore at its stock’s closing price of Rs 1,803 per share…
This is an AI-generated image, used for representational purposes only. India’s thermal coal imports from Russia surged 52 per cent in May 2025 over April, touching a two-year high of 1.3 million metric tonnes. This marks the first time since June 2023 that Russian monthly shipments to India crossed the 1-million-tonne mark, business daily Kommersant…
The rupee appreciated 24 paise to settle at 85.48 against the US dollar on Friday, supported by strong foreign fund inflows and firm domestic equity markets.At the interbank foreign exchange, the rupee opened at 85.50 and moved between 85.43 and 85.65 during the day before closing at 85.48 (provisional), up from its previous close of…
NEW DELHI: India can boost employment in labour-intensive sectors by over 13% by 2030 through targeted investment in formal skilling, according to a paper by the National Council of Applied Economic Research (NCAER). The study argues for a multi-pronged policy push to improve workforce quality and bridge the country’s employment gap.The paper, titled ‘The Landscape…
Reliance Jio and Bharti Airtel together accounted for over 99.8% of all new telecom subscribers in May, helping India’s total telecom subscriber base rise marginally to 120.7 crore, according to the latest data from the Telecom Regulatory Authority of India (Trai).The sector added a total of 43.58 lakh net subscribers in May, with Jio and…
State-run Coal India Ltd (CIL) on Friday said it will invest more than Rs 1,067 crore in Talcher Fertilizers Ltd (TFL) by subscribing to equity shares through a rights issue, marking a significant step towards realising India’s first coal gasification-based ammonia urea plant.TFL was set up in 2015 as a joint venture between GAIL (India)…
India’s foreign exchange reserves slipped by $1.01 billion to $697.93 billion in the week ended June 20, according to the Reserve Bank of India (RBI)’s latest data released on Friday.The decline reverses the previous week’s trend, when reserves had jumped by $2.29 billion to reach $698.95 billion. India’s reserves had hit an all-time high of…
