BUSINESS
India-based fintechs continue to dominate funding in Asia-Pacific
Geographically, India-based fintechs dominated funding in APAC, accounting for 42 per cent and 34 per cent of total deal value and volume, respectively, in the region. According to S&P Global Market Intelligence, fintech companies based in APAC surpassed previous deal values and volumes observed in the March quarter over the past three years.
Indian IPO market experienced significant slowdown
In Q1 2022, the Indian market introduced 16 IPOs vs 23 IPOs in Q1 2021, according to the EY Global IPO Trends Q1 2022. During Q1 2022, proceeds raised through the main markets equated to $ 995m via three main market IPOs compared to US$ 2.57 bn during Q1 2021, which is a decline of 60 per cent in proceeds raised and a decline of 82 per cent in the number of deals. SME segment raised US$ 17.46m via 13 IPOs during Q1 2022.
Swastika Investmart sees 'flat' listing for LIC, recommends investors to go long
The brokerage's rationale behind the anticipation is based on the current market situation such as increased inflation statistics, FII outflows, currency weakness, geopolitical and rate hike-related worries. The much-awaited listing of the insurance major is expected to take place on Tuesday.
Not qualified for the post? Promote higher: IRDAI policy
Speaking on the condition of anonymity, IRDAI officials told IANS: "Recently Chief General Manager Mamta Suri was promoted as Executive Director. The Telangana High Court had recently held that she does not have the requisite qualification for being promoted to that post."
Capgemini acquires Chappuis Halder to boost financial services biz
Headquartered in Luxembourg in Europe, Chappuis Halder is a nearly 150-people consulting firm, with main offices in North America, Europe, and South-East Asia, with reputation for its financial services leading expertise. With Chappuis Halder's specific industry focus, the acquisition will help Capgemini strengthen its capabilities to advise banking, wealth management and insurance clients in North America, Europe and South-East Asia, the company said in a statement.
IAMAI urges GST Council to keep 18% tax on online gaming
Discussions are ongoing among various stakeholders to increase the GST rate to 28 per cent for the online gaming industry. There is no clarity on whether this will apply only to real money games or casual games as well, given that the former being a sub-segment of online gaming.
Adani Group to buy 49% in Quint; media company's shares up over 9%
The Adani Group company Adani Enterprises forayed into the media business by acquiring an unspecified minority stake in Quintillion Business Media earlier this year. It has signed a Shareholders' Agreement with Quintillion Media Ltd (QML) and QBML and a share purchase agreement with QML, QBML and Quint Digital Media Ltd (QDML) in connection with its proposed acquisition of a 49 per cent stake in the media company.
Snapping 6-day losses, equity indices rise in opening deals
At 9.51 a.m., Sensex was 1.0 per cent or 513 points up at 53,307 points, whereas Nifty was 1.2 per cent or 185 points up at 15,967 points. The recent consistent decline was triggered as equity investors were concerned about the persistent high inflation globally and tightening monetary policy stance by several central banks.
Adani to acquire Holcim's stake in Ambuja Cements and ACC Ltd
Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements). The value for the Holcim stake and open offer consideration for Ambuja Cements and ACC is $10.5 billion, which makes this the largest ever acquisition by Adani, and India's largest ever M&A transaction in the infrastructure and materials space.
Centre asks states, UTs and FCI to continue wheat procurement
The government's decision comes in the wake of requests by state governments/UTs to continue the procurement process. The extended period is expected to benefit farmers.
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