Reuters India Business

By M. Sriram MUMBAI (Reuters) – Indian e-scooter maker Ola Electric has received regulatory approval to go ahead with its $660 million Initial Public Offering, said two sources with direct knowledge, paving the way for the country’s first ever EV stock listing. SoftBank and Temasek-backed Ola had filed its papers with India’s Securities and Exchange …

India’s Ola Electric wins approval for $660 million IPO, sources say Read More »

By Siddhi Nayak MUMBAI (Reuters) – The lobby group for Indian non-banking lenders on Tuesday asked for a review of a recent proposal from the central bank calling for an increase in the provisions that lenders have to set aside against infrastructure project loans. Last month, the Reserve Bank of India (RBI) proposed that banks …

India cenbank should review plan to raise provisions against infra loans, lobby group says Read More »

By Arpan Chaturvedi NEW DELHI (Reuters) – India’s proposed EU-like antitrust law will pose a fresh regulatory challenge for tech firms including Apple, Google and Meta, laying out strict compliance obligations that could affect their business models. The Indian government is currently examining a panel’s February report that proposed a new “Digital Competition Bill” to …

Factbox-India’s EU-like antitrust law worrying technology firms Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee’s choppy trading last week in the wake of the national election results prompted importers and exporters to hedge a larger portion of their foreign exchange book in the forwards market, data showed. Importers bought foreign exchange forward contracts worth $9 billion last week, a more than …

Indian firms ramped up forex hedging in volatile election-results week Read More »

BENGALURU (Reuters) -IndiGo airline’s biggest shareholder will sell a 2% stake worth $394 million in the low-cost Indian carrier on Tuesday, per a term sheet seen by Reuters, marking its first such sale in at least four years during which the company’s stock has soared. Interglobe Enterprises, which had a 37.75% stake in Interglobe Aviation, …

Indian airline IndiGo’s top shareholder to sell 2% stake, worth $394 million Read More »

By Ira Dugal MUMBAI (Reuters) – Indian Prime Minister Narendra Modi’s government has no plans to increase its fiscal deficit target despite speculation that more spending might be needed to appease coalition partners, a government official said. Modi’s Bharatiya Janata Party (BJP) failed to win an outright majority in elections that concluded on June 1, …

India PM Modi’s government to stick to deficit target despite poll setback, says source Read More »