Fri, Mar 05, 2021

  • Walmart Inc.’s Flipkart is exploring going public in the US through a merger with a blank-check company as it seeks to quicken its listing process, according to people familiar with the matter.
    Flipkart mulls US listing, may seek at least USD 35-bn valuation: Report
    The Bengaluru-based online retailer has been weighing a US initial public offering and it’s now also looking at other options, the people said. Flipkart’s advisers have approached several SPACs, said one of the people, who asked not to be identified as the information is not public. Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, as per a Bloomberg report. Deliberations are at an early stage and Flipkart could still explore other options, the people said. A representative for Flipkart had no immediate comment. The e-commerce firm is joining other Indian firms like online grocer Grofers in exploring a US listing through SPAC deals. Last week, ReNew Power agreed to merge with a US-listed special purpose acquisition company in a deal that will give India’s biggest renewable power producer an enterprise...
  • Cognizant announces bonus, promotions for employees Cognizant announces bonus, promotions for employees

    IT services major Cognizant on Thursday said it is offering bonuses that are ''substantially higher than 2019'' and has promoted more than 24,000 employees across levels.

  • SC: Consider making law for additional courts to deal with cheque bounce cases SC: Consider making law for additional courts to deal with cheque bounce cases

    The Supreme Court on Thursday stressed that Centre should come up with a law to create additional courts, for a specific period, to counter pendency of cheque bounce cases which runs over 35 Lakhs.

  • RBI to conduct simultaneous sale-purchase of govt securities next week RBI to conduct simultaneous sale-purchase of govt securities next week

    The Reserve Bank of India on Thursday announced that it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) on March 10.

  • ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: Report ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: Report

    Just State Bank of India, HDFC and ICICI Bank will have to offload equity worth Rs 1.21 lakh crore if the central bank goes ahead with its reported plan to make banks cap their stakes in insurance...

  • 67.54 Billion dollar: India's total FDI inflow in April-Dec 2020 67.54 Billion dollar: India's total FDI inflow in April-Dec 2020

    India attracted total FDI inflow of $67.54 billion during April to December 2020, Centre said on Thursday.

  • IndiGo to commence ops to Bareilly from April IndiGo to commence ops to Bareilly from April

    To strengthen its regional reach airline major IndiGo will commence operations to Bareilly from April.

  • Reliance Power, JERA to launch gas-fired project in Bangladesh Reliance Power, JERA to launch gas-fired project in Bangladesh

    Reliance Power Limited ( Reliance Power ) and JERA Co. Inc. ( JERA ), through their joint venture project company, are developing a new gas-fired power generation project in Bangladesh.

  • Wagh Bakri eyeing 20 pc revenue growth next fiscal Wagh Bakri eyeing 20 pc revenue growth next fiscal

    Packaged tea firm Wagh Bakri is targeting 20 per cent revenue growth next fiscal and also looking to expand tea lounge business, a top company official has said.

  • EPFO fixes 8.5 pc interest on EPF deposits for 2020-21 EPFO fixes 8.5 pc interest on EPF deposits for 2020-21

    Retirement fund body EPFO on Thursday decided to retain 8.5 per cent rate of interest on provident fund deposits for the current financial year. EPFO has more than five crore active subscribers.