Month: August 2021

Software firm codenames IPO after Rajinikanth’s moniker

Freshworks, a software service provider founded in Chennai and now based in Silicon Valley, has codenamed a $100 million IPO it has applied for in the American stock exchange Nasdaq as ProjectSuperstar as a tribute to superstar Rajinikanth By HT Correspondent UPDATED ON AUG 31, 2021 02:22 PM IST Freshworks, a software service provider founded …

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Pakistan invests $305 mn to find crude, natural gas in UAE’s Persian Gulf waters

Unlike Saudi Arabia and most other Gulf OPEC members, Abu Dhabi has international companies as equity investors in its oil and gas fields. Bloomberg | PUBLISHED ON AUG 31, 2021 02:27 PM IST The United Arab Emirates awarded an oil concession to companies from Pakistan for the first time. A group led by state-owned Pakistan …

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Indian spot gold rate and silver price on Tuesday, Aug 31, 2021

Gold Price in India ( ₹47490) has decreased since yesterday( ₹47500). Also, it was lower than the average gold price observed this week ( ₹47518.6) by 0.06%. Although global Gold Price Today ($1816.7) experienced growth of 0.18%, the Gold Price remained low in the Indian market ( ₹47490). Gold and other precious metals on Tuesday, …

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Peter Thiel’s founders fund backs $130 million Japan tech fund

Billionaire Peter Thiel’s Founders Fund is backing a new $130 million vehicle by Coral Capital to invest in Japan’s technology startups as the country shakes off its image as a tough place for entrepreneurs. Coral Capital’s third fund will focus on early-stage financing from seed to Series A, founding partner and Chief Executive Officer James …

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Macrotech pips Godrej for No 2 spot in realty market-cap race

Mumbai-based Macrotech Developers Ltd has become India’s second most valuable listed real estate firm, displacing Godrej Properties Ltd to the third spot. The company, erstwhile Lodha Developers, closed with a market capitalization of ₹41,770.59 crore on Monday after its shares surged 4.75% to close at ₹934.15, BSE data showed. During the day, its shares hit …

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Fundraising via QIPs lags IPOs this year

More Indian companies raised capital through initial public offerings in 2021 than via qualified institutional placements (QIPs), indicating a trend reversal from 2020 when QIPs dominated the market. So far this year, 26 companies have raised ₹31,781 crore through QIPs. That compares with ₹60,288 crore raised through IPOs by 36 companies, data from Prime Database …

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Ola selects Citigroup, Kotak Mahindra for over $1-bn share sale

Ola Cabs may be targeting a float size of $1.5 billion to $2 billion and is figuring the specifics with bankers, two people aware of the talks said separately, also seeking anonymity. By Swaraj Singh Dhanjal , Tarush Bhalla, Mumbai, Bengaluru PUBLISHED ON AUG 31, 2021 06:22 AM IST Ola Cabs has started hiring investment …

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OTTs wary as RBI auto-debit rules may hit business

Video streaming services are worried as the September 30 deadline to implement Reserve Bank of India’s new rules on auto debit payments nears. Over-the-top (OTT) platforms fear they will lose customers who may henceforth find it more tedious to make payments. Under the new rules, all recurring transactions will need additional authentication. For payments exceeding …

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