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Swiggy targets $15 billion valuation in India IPO, sources say

By Aditya Kalra NEW DELHI (Reuters) – SoftBank-backed Indian food delivery giant Swiggy is targeting a valuation of around $15 billion for its upcoming stock market offering to raise $1-1.2 billion, three people familiar with the matter said. The deal would make it one of biggest Indian initial public offerings this year. Swiggy competes with …

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Indian PM Modi arrives in Ukraine for talks with Zelenskiy

KYIV (Reuters) – India’s Prime Minister Narendra Modi has arrived in Kyiv for talks with President Volodymyr Zelenskiy, senior lawmaker Oleksiy Honcharenko said on Friday. It is the first trip by an Indian prime minister to Ukraine since Kyiv gained independence from the Soviet Union in 1991. (Reporting by Pavel Polityuk; Editing by Christina Fincher)

Deadly Indian pharmaceutical blast blamed on chemical solvent leak

By Rishika Sadam and Shivam Patel HYDERABAD/NEW DELHI (Reuters) -An explosion at a pharmaceutical factory in southern India on Wednesday, which killed at least 17 people and injured 36, was due to a chemical solvent leak, according to an internal government report accessed by Reuters on Thursday. The blast came around noon at the privately-held …

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India’s opposition demands investigation into market watchdog’s alleged conflict in Adani case

By Manoj Kumar and Francis Mascarenhas NEW DELHI/MUMBAI (Reuters) – More than 1,000 Indian opposition party supporters demonstrated in New Delhi, Mumbai and other state capitals on Thursday, demanding a probe into the market regulator chief’s alleged conflict of interest in investigating the Adani Group. The regulator is investigating allegations by U.S.-based short-seller Hindenburg Research, …

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High food prices in India threaten overall inflation outlook, say rate panel members

By Swati Bhat MUMBAI (Reuters) – Rising food prices have prevented India’s headline inflation from hitting the central bank’s 4% target, requiring the monetary policy committee (MPC) to stick to its restrictive stance, minutes of the Reserve Bank of India’s August meeting showed. “Persistent food inflation is imparting stickiness to headline inflation,” Governor Shaktikanta Das …

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Exclusive-Disney-Reliance offer concessions for India merger, but no cricket rights sale

By Aditya Kalra NEW DELHI (Reuters) -Disney and Reliance have offered some concessions to secure an India antitrust approval for their $8.5 billion media merger, but are unwilling to sell any cricket broadcast rights, the biggest prize in the deal, two sources familiar with matter said. Reuters reported earlier this week that the Competition Commission …

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Warburg Pincus affiliate divests 2.36% in India’s Kalyan Jewellers (Aug. 21)

(This Aug. 21 story has been refiled to fix syntax in paragraph 2) BENGALURU (Reuters) – A Warburg Pincus affiliate will sell 2.36% of its stake in Kalyan Jewellers for 13 billion rupees ($155 million) to another large stakeholder at a 2% discount to Wednesday’s closing price, the Indian company said. The deal will see …

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