Dec 3 (Reuters) – Meesho’s $604 million initial public offering was fully subscribed the first day of bidding on Wednesday as retail investors rushed to grab a share of the Indian e-commerce platform amid a booming IPO market. The company, which is seeking a valuation of up to $5.6 billion, received bids for 429.13 million …
MUMBAI, Dec 3 (Reuters) – India’s central bank has approved the appointment of Vikram Sahu as chief executive officer of Bank of America N.A. in India, according to an internal memo reviewed by Reuters. Sahu was appointed by the bank in March to lead India operations but a formal approval from the Reserve Bank of …
Vikram Sahu approved as Bank of America India CEO by central bank, memo shows Read More »
BENGALURU, Dec 3 (Reuters) – India government has withdrawn a directive making smartphone makers pre-install devices with a state-run cyber safety app, it said in a statement on Wednesday. (Reporting by Munsif Vengattil in Bengaluru; Editing by Andrew Heavens)
Dec 3 (Reuters) – Indian airplane parts maker Aequs’ nearly $103 million IPO was fully subscribed within hours of opening on Wednesday, as investors were drawn to the company’s long-term prospects and expansion plans amid a growing backlog of jet orders. The Airbus and Boeing supplier’s IPO got bids worth 6.73 billion rupees ($74.6 million), …
Indian plane parts supplier Aequs’ $103 million IPO fully subscribed Read More »
By Abhirami G BENGALURU, Dec 3 (Reuters) – Sify Infinit Spaces, set to become India’s first listed data center operator, sees AI driving demand for computing power but is tempering future investments to avoid over-exposure to a potential bubble, its chief executive said. The surge in artificial intelligence technologies, which require massive computing power, has …
Indian data center operator Sify Infinit Spaces bets on AI boom but wary of bubble Read More »
MUMBAI, Dec 3 (Reuters) – The Indian rupee weakened past the key psychological level of 90 to the dollar on Wednesday, extending a rough patch as anaemic trade and sustained portfolio flows weighed in the absence of positive news on a trade deal with Washington. By 9:40 a.m. (0410 GMT), the partially convertible rupee was …
Indian rupee weakens past 90/dollar on persistent outflows, absence of trade deal Read More »
By Nimesh Vora MUMBAI, Dec 3 (Reuters) – The Indian rupee is expected to remain near the 90 per dollar level at open on Wednesday, with fragile sentiment and skewed flows likely to overshadow any relief from a softer U.S. currency. The 1-month non-deliverable forward indicated the rupee will open in the 89.86-89.92 range versus …
Rupee set to hold near 90 with shaky sentiment, flows overshadowing dollar dip Read More »
Dec 3 (Reuters) – India’s Adani Group is planning to invest $15 billion to boost passenger capacity at its airports to 200 million annually in the next five years, Bloomberg News reported on Wednesday, citing people familiar with the matter. The plan includes adding terminals, taxiways, and a new runway at the Navi Mumbai airport, …
Adani Group plans $15 billion India airports expansion by 2030, Bloomberg News reports Read More »
By Anmol Choubey Dec 2 (Reuters) – Gold prices fell over 1% on Tuesday as investors took profits following a six-week high in the previous session, while they awaited key U.S. economic data ahead of the Federal Reserve’s policy meeting next week. Spot gold lost 1.1% to $4,186.89 per ounce by 1:43 p.m. ET (1843 …
Gold falls on profit booking, investors eye Fed rate cut signals Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI, Dec 2 (Reuters) – Apple does not plan to comply with a mandate to preload its smartphones with a state-owned cyber safety app and will convey its concerns to New Delhi, three sources said, after the government’s move sparked surveillance concerns and a political uproar. The Indian …
