(Reuters) -Indian e-commerce platform Meesho is seeking a valuation of up to 501 billion rupees ($5.6 billion) through its IPO next week, as it looks to boost its reach in a market dominated by Amazon and Walmart-owned Flipkart. The share offering comes on the heels of IPOs by technology-driven companies like Groww, Lenskart and PhysicsWallah …
Indian e-commerce firm Meesho aims for $5.6 billion valuation in IPO Read More »
By Khushi Malhotra and Dharamraj Dhutia MUMBAI (Reuters) -India’s Jayaswal Neco is refinancing costly high-yield debt with a lower-cost mix of term and working-capital loans, two sources said on Friday, adding the company is seeking about 22 billion rupees ($246 million) in fresh facilities. The fresh borrowings are expected to carry interest of around 12.50%, …
India’s Jayaswal Neco pivots to cheaper funding replacing high cost bonds, sources say Read More »
By Sai Ishwarbharath B BENGALURU -U.S. financial services firm StoneX Group will launch a precious metals trading desk in India in early 2026 and boost tech hiring by up to 20% annually for the next three years, a top executive told Reuters. The firm, which offers trading and execution services across commodities, securities and forex, …
StoneX bets on India with new metals desk, tech push Read More »
By Praveen Paramasivam (Reuters) -UK-based fast-food chain German Doner Kebab (GDK) plans to open its first restaurant in India early next year, as it targets 1 billion pounds ($1.32 billion) in global sales within five years, CEO Simon Wallis said. India is “an important part of that growth plan” and “ripe” for its products, Wallis …
German Doner Kebab set to enter India next year, eyes $1.3 billion in global sales Read More »
By Manoj Kumar and Sarita Chaganti Singh NEW DELHI (Reuters) -India’s economy likely stayed resilient in the July–September quarter, driven by consumer demand and front-loading of production and exports ahead of U.S. tariffs, though growth is expected to moderate in the coming quarters. Economists expect export activity benefitted from a rush to beat U.S. tariff …
India’s Q2 GDP growth likely stayed firm on strong domestic demand Read More »
By Noel John (Reuters) -Gold prices edged lower on Thursday, easing from a near two-week high hit in the previous session, while investors assessed the likelihood of a U.S. interest rate cut in December. Spot gold was down 0.2% at $4,157.29 per ounce, as of 1601 GMT. U.S. gold futures for December delivery slipped 0.2% to …
Gold slips from near 2-week high, traders weigh US rate cut chances Read More »
By Eric Onstad LONDON (Reuters) -Commodity trader Trafigura’s lawyers accused Indian businessman Prateek Gupta on Thursday of siphoning off funds from an alleged $600 million metals fraud to prop up his struggling business empire. Geneva-based Trafigura sued Gupta over two years ago, alleging he was the architect of a scam in which he and his …
Trafigura says Gupta pilfered funds from metals fraud for his distressed firms Read More »
(Reuters) -India’s Bandhan Bank said on Thursday it will sell off its non-performing assets and written-off portfolios through a bidding process with asset reconstruction companies. As of end-September, the lender’s NPA portfolio had an outstanding principal worth 32.12 billion rupees ($359.4 million) and a written-off loan portfolio worth 37.19 billion rupees. ($1 = 89.3700 Indian …
India’s Bandhan Bank to sell bad loans, write-offs via bid process Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) -ICICI Prudential Asset Management Company will launch its $1.2 billion IPO in the second week of December, two sources said on Thursday, making India’s second-largest asset manager the latest in a long list of firms to go public this year. The fund house, which had filed for the IPO …
India’s ICICI Prudential Asset to launch IPO in 2nd week of December, sources say Read More »
By Nidhi Verma NEW DELHI (Reuters) -A Western-sanctioned vessel with Russian oil destined for Indian Oil Corp has had discharge of the cargo delayed at a port in eastern India due to a hold-up in online verification of insurance cover provided by a Russian insurer, three industry sources with direct knowledge of the matter said. …
