BUSINESS
PUBG developer Krafton to raise $3.7 bn via IPO next month
The listing, scheduled for August 10, is expected to be one of the largest ever on the local bourse. Samsung Life Insurance holds the record for its 4.89 trillion won IPO in 2010, reports Yonhap news agency. While Krafton had initially sought to raise up to a record 5.6 trillion won, it lowered its pricing band after financial authorities requested revisions to its plan amid controversy of overvaluation.
IFSCA proposes capital market intermediary regulations for IFSC
As part of the process, the Authority has issued a consultation paper on the proposed Intermediaries Regulations and invited comments and suggestions on it by August 18, 2021.The proposed IFSCA (Capital Market Intermediaries) Regulations, 2021 (Intermediaries Regulations) provide for regulatory requirements in respect of registration, obligations and responsibilities.
LG bets on home appliance, TV sales after strong Q2 results
The South Korean tech giant said its operating profit spiked 65.5 percent to 1.11 trillion won ($968 million) in the April-June period, its best second-quarter performance since 2009. Sales jumped 48.4 percent on-year to 17.1 trillion won over the cited period, its largest ever for any second quarter. The figures were in line with its earnings guidance announced earlier this month.
Noida allots land parcel to Adani Enterprises in Sector 62
This is part of the Uttar Pradesh policy for setting up institutional services in Noida in IT and ITES sectors to promote investment and employment. As per a notification, Adani Enterprises will make investments of Rs 2,400 crore within the upcoming facility at Sector 62, Noida which will generate employment for 1,350 persons. In addition, the Noida authority has allotted another 16,350 sq metre land parcel in sector 145 to MAQ India Pvt Ltd to for an IT facility.
Sensex up 200 points; IT, metal stocks rise
Healthy buying was witnessed in metal and IT stocks. Rise in the index heavyweights Reliance Industries and HDFC Bank supported the Sensex. Around 10.10 a.m., Sensex was trading at 52,661.58, higher by 217.87 points or 0.42 per cent from its previous close of 52,443.71.
Radico Khaitan's Q1 net profit up 36%
During the same period of FY21, the company has reported a net profit of Rs 4,407.29 crore. Lalit Khaitan, Chairman and Managing Director said: "After closing FY2021 on a positive note, it is heartening to report a robust performance in Q1 FY2022. The disruptive second wave of the pandemic impacted businesses from the second half of April."
No revision in fuel prices for 12 straight days
However, oil companies have stopped short of reducing the retail price of petrol and diesel during the week as more time will be required to study oil price movement before any downward revision. Already, crude has firmed up a bit for last few days and this could prevent price cut by OMCs.
52,391 entities recognized as startups, 53 unicorns currently in India
The startups are recognised by Department for Promotion of Industry and Internal Trade (DPIIT) and as of July 14, more than 5.7 lakh jobs have been reported by more than 50,000 startups, Minister of State for Commerce and Industry, Som Parkash, told the Lok Sabha in a written reply.
Now SEBI nails Raj Kundra and Shilpa Shetty
Kundra, Shetty and Viaan have been fined for a three-year delay in the disclosure of an allotment of preferential shares. In 2015, Viaan Industries had made a preferential allotment of 500,000 equity shares. Of this 128,800 equity shares each were allotted to Kundra (referred to as Ripu Sudan Kundra) and Shetty, the promoters of the company.
'Amendments to LLP Act to boost ease of doing business'
"Amendment in LLP act proposes to now remove the criminality angle in respect of violations and will now only entail pecuniary penalty by way of a fine with no criminal action. This will facilitate the middle-level entrepreneur in their business activities and growth," Resurgent India Managing Director Jyoti Prakash Gadia said. ADIF Executive Director Sijo Kuruvilla George said that it is founder-friendly development.
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