Page 9 - Indian Companies

What's a SPAC and how does it help startups in raising money? Decoded

SPAC is the new buzzword in the deal-making space. It is becoming very popular with founders in India and abroad. So, what is a SPAC and how does it work? Let's understand

M-cap of eight of 10 most valued companies tumbles below Rs 1.80 trillion

From the top 10 list, only Reliance Industries Limited and State Bank of India emerged as gainers

India Inc's credit profile gets stronger during Covid-19 pandemic

But rating agencies warn that broad-based upturn not visible yet

Super apps, super challenges: Who and what's in play to hook customers

No super app in Asia has entered the health sector in a big way. In India, the Tata 1mg health care tie-up has broken into the space

Swedish contingent meets K'taka CM, Indian cos CEOs to boost investment

Bommai said both Sweden and India are time-tested allies and the bilateral ties need to be further strengthened

Govt may offer pre-pack insolvency resolution plan even for large firms

To quicken the pace of stressed asset resolution, the Centre may soon come up with a prepackaged insolvency framework under the IBC for large corporates, similar to the one introduced for SMEs.

Annual salary increments expected to touch 8.6% in 2022: Deloitte survey

Approximately, 12 per cent employees were promoted in 2021, as compared to 10 per cent in 2020

52 cos apply with Rs 6,000-cr investment proposals for AC, LED PLI scheme

Around 52 companies have applied for availing PLIs for white goods makers, proposing an investment of around Rs 6,000 crore in the manufacturing of components for air conditioners and LED lights.

Srei Infra CEO Rakesh Bhutoria resigns; salary issues persist

Srei Infrastructure Finance has suffered yet another blow as its CEO Rakesh Kumar Bhutoria resigned even as the company is going through the debt resolution process with the lenders

India Inc gets to work as it starts designing return to office toolkit

Domestic companies, including those in manufacturing, are also ready to bring back vaccinated employees

Hughes, OneWeb ink pact for Low Earth Orbit satellite service in US, India

Hughes Network Systems and OneWeb have announced agreements for Low Earth Orbit satellite service in the US and India.

Singapore SPACs need to go hunting in India, Indonesia for promising firms

Singapore has seen just three initial public offerings this year, garnering less than $250 million.

ABFRL targets to hit Rs 25,000 cr revenue after 5 yrs: Kumar Mangalam Birla

Leading fashion retail firm Aditya Birla Fashion and Retail Ltd (ABFRL) is targeting to hit Rs 25,000 crore revenue after five years, according to its Chairman Kumar Mangalam Birla.

Nearly 47% closed cases under IBC in liquidation till June, says IBBI

Nearly 47% closed under the insolvency law ended up in liquidation till the end of June but economic value in majority of the cases had eroded even before commencement of the corporate insolvency

Listed private mfg firms' sales soar 75% in Q1 on low base: RBI data

Sales of 1,647 listed private manufacturing companies recorded "extraordinarily high" growth of 75% in the first quarter of FY'22 mainly due to a very low base in the pandemic-hit year-ago period

Indian companies' foreign borrowing jumps 60% in July to $3.43 bn

Indian companies raised over $3.43 billion from foreign markets through external commercial borrowings (ECBs) in July this year, up by nearly 60 per cent from a year ago, RBI data showed on Thursday

Majority of corporate employees want to WFH at least once a week: Survey

Nearly 80 per cent of corporate employees want to work from home at least once a week post-COVID, according to a survey by property consultant JLL India

Jaipur company declares 'Money Heist' holiday ahead of final season release

A Jaipur-based private firm has announced a 'Netflix and Chill holiday' for all its employees to watch the show the day it starts streaming

Contributed Rs 2.74 trillion to exchequer in past 10 years: Vedanta

Natural resources major Vedanta on Tuesday said it has made a contribution of Rs 2.74 lakh crore to the exchequer in the past 10 years. During 2020-21, Vedanta's contribution to the exchequer was Rs 34,562 crore, which accounts for 40 per cent of the consolidated turnover, the company said in a statement. "Over the past 10 years, the company has made a total contribution of Rs 2.74 lakh crore to the national exchequer," it said. Despite the challenges posed by the COVID-19 pandemic during the fiscal, Vedanta's tax contribution in FY21 was nearly Rs 550 crore higher than the previous financial year. The tax contribution includes corporate income taxes, royalties, profit-oil, and significant indirect contributions by way of withholding taxes and indirect taxes, it said. Vedanta added it is the only corporate in the country to come out with such a detailed report that breaks down key components like economic value generated, taxes paid and contribution by each of the businesses. In

IPO frenzy continues; 2 public issues on September 1 to garner Rs 2,465 cr

The IPO rush will continue in September with two more companies Vijaya Diagnostic Centre and Ami Organics launching their initial share-sales on Wednesday to raise a total of Rs 2,465 crore. This comes after eight companies including Devyani International, Nuvoco Vistas Corporation and CarTrade Tech floated their initial share-sales last month to mobilise Rs 18,243 crore. So far in the current fiscal, a total of 20 companies have mopped up more than Rs 45,000 crore through IPOs. This is much higher than Rs 31,277 crore raised by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire financial year 2021-22. The initial public offer (IPO) of healthcare chain Vijaya Diagnostic Centre and specilalty chemicals maker Ami Organics will open for subscription on September 1 and conclude on September 3. Vijaya Diagnostic's IPO is entirely an offer for sale of 35,688,064 equity shares by the promoter, S Surendranath Reddy