Mauritius Financial News

₹91.77 crore from anchor investors on Wednesday. Its initial public offering (IPO) will open for public subscription on Thursday, August 24, 2023. The issue will close on Monday, August 28, 2023.

Small-cap stock below ₹5: Vikas Ecotech Ltd has declared to become a debt-free company by the end of current financial year 2023-24. In its latest exchange filing, the small-cap company has informed Indian stock market that it has paid up to ₹101.20 crore band debt from its peak and now just ₹60 crore band debt now left to be repaid. The company went on to add that it would repay an additional ₹10 crore by end of second quarter of the current financial year.

maritime domain. It signifies India’s increasing interest in building capacity and partnerships with Indo-Pacific militaries.

Trinidad and Tobago has signed an agreement with the Indian government for sharing the India Stack, which is a collection of open application programming interfaces and digital public goods for identity, data and payment services. The agreement was signed in the presence of officials from the Ministry of Electronics and IT (MeitY), National E-Governance Division, and the Ministry of External Affairs, according to an official release.

PB Fintech Ltd, backed by Info Edge and Japan’s SoftBank, got listed on the stock exchanges. Masayoshi Son’s SoftBank holds 4.39%, China’s Tencent 6.28% and Info Edge holds 17.5% in PB Fintech, while Claymore Investments (Mauritius) Pte. Ltd, a subsidiary of Singapore’s Temasek Holdings, own 5.43%.

Keeping other aspects of the economy aside, let us have a glance at how the Indian rupee from being a relatively weak currency started its journey toward internationalisation. The value of a country's currency and its usage for global trade are among the key indicators for gauging its economic stride. Banks from 22 countries have opened special Rupee vostro accounts in Indian banks in order to trade in local currency as part of gradual de-dollarisation plans, the Parliament was informed during the just concluded monsoon session of Parliament.

Deutsche Bank has settled the loans it extended to Go Airlines out of court with its promoters Wadia Group, people aware of the development said. Go Airlines, which operated Go First Airlines, is undergoing voluntary liquidation. Last week, Deutsche Bank conveyed to its resolution professional Shailendra Ajmera and lenders that it wants to relinquish itself as a member of the committee of creditors (CoC) since it has separately settled its debt with the promoter, people cited above said. Exit of the German bank will not have any impact on the debt resolution or recovery of dues, a senior consultant told ET. The RP, backed by EY, recently extended the date to submit expressions of interest from potential bidders for the distressed airline by a month to September 8. A Go First spokesperson in a statement said, “We are not aware of settlement of any such loan. However, Britannia Industries is no way involved with Go First directly or indirectly for any loans provided.” Deutsche Bank and Ajmera declined to comment. According to the initial list of claims filed by creditors on June 8, Deutsche Bank had filed Rs 1,365 crore-claims which were classified as unsecured creditors.

Small-cap stock below ₹5: GG Engineering shares are one of the newsmaker scrips in stock market today. The penny stock has attracted foreign institutional investor's attention as Mauritius-based FII Vikas Global Fund PCC has bought fresh stake in the small-cap stock priced below ₹5. The FII bought 45 lakh company shares paying ₹1.40 per share.

long Independence weekend is here: August 12 (Saturday), August 13 (Sunday), August 15 Independence Day (Tuesday), and August 16: Parsi New Year (Restricted Holiday) (Wednesday). You just need to take an off from your work on August 14, Monday, to explore different tourist places.

SBI Life Insurance, Tata MF, Societe Generale, BNP Paribas, Copthall Mauritius Investments, Authum Investment, Aurigin Master, and Winro Commercial, among others. TVS SCS’ public issue comprises fresh equity shares aggregating Rs 600 cr and an offer for the sale of 14,213,198 equity shares.

block deals that were executed on screen were worth over Rs 10,434 crore with Vedanta walking away with the lion’s share followed by deals in DLF and Unichem Laboratories. The data on deals, compiled by Nuvama, pertains to the period up to Thursday. Prominent bulk, block and insider deals for the week were executed in eight companies viz.

MUMBAI : Billionaire Anil Agarwal-led Vedanta Ltd’s shares plunged 9% in intraday trade to ₹247.60 apiece on exchanges after S&P Global Ratings downgraded the parent firm Vedanta Resources Ltd’s credit outlook from stable to negative on Thursday when Twin Star Holdings Ltd, promoter of Vedanta, sold 15.4 crore shares worth ₹3,983.1 crore in the company to raise funds for repaying dues. While marquee investors including Societe Generale and Copthall Mauritius Investment Ltd bought 2.94 crore and 8.48 crore Vedanta shares from Twin Star at ₹258.5 apiece respectively, in a statement put out in Singapore, S&P Global Ratings downgraded Vedanta Resources citing increased funding risks. The rating agency has affirmed ‘B-’ long-term issuer credit rating for the London-based parent firm.

₹247.60 apiece on exchanges on Thursday after S&P Global Ratings downgraded the parent firm Vedanta Resources Ltd’s credit outlook from stable to negative on Thursday when Twin Star Holdings Ltd., promoter of Vedanta, sold 15.4 crore shares in the company worth ₹3,983.1 crore to raise funds for repaying dues. Marquee investors including Societe Generale and Copthall Mauritius Investment Ltd bought 2.94 crore and 8.48 crore Vedanta shares from Twin Star at ₹258.5 apiece respectively. Shares of Vedanta Ltd ended 6.65% down at ₹254.05 apiece on NSE, which is 1.72% lower than the floor price at which Societe Generale and Copthall Mauritius Investment purchased the shares from Twin Star.

Ambuja Cements Ltd., said a report by Bloomberg onThursday. The loan would be syndicated, said the report citing people familiar with the matter. The talks haven’t yet concluded, and the amounts could still change, said the report.

The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges.

sustainability. Some of the most thought-provoking and pioneering places today are those that have selected to effort on native sourcing, waste reduction and other ecological exercises.

India has significantly improved its passport ranking by rising 5 spots from last years and is now ranked 80th in the latest Henley Passport Index. Owning to this, Indians can travel to 57 destinations completely visa free or visas on arrival arrangements.  However, it is to be noted here that India has scored poorly in mobility.

NEW DELHI : The government is at an advanced stage of formulating a new piece of legislation to offer investors ready approvals for all requirements and replace the special economic zones (SEZ) Act and non-tax measures remain the preferred route for promoting new investments in the country, revenue secretary Sanjay Malhotra said in an interview. Finance minister Nirmala Sitharaman announced the Development of Enterprise and Service Hubs (DESH) Bill in February 2022. The proposed law will replace the existing one governing SEZs.

NEW DELHI : Mauritius-based foreign portfolio investors (FPIs) trading Indian derivatives are under heightened scrutiny by the Indian tax department, two people with direct knowledge of the matter said. Several FPIs have received queries from the tax department seeking additional details related to ‘commercial substance’ and control residing in Mauritius.

Astons, the world’s leading authority on residency and citizenship through investment, has examined the 13 new countries that are considering offering citizenship or residency by investment (CBI/RBI) programs and has selected the four that they feel offer the most alluring investment and lifestyle opportunities for investors.

The price band for the IPO was fixed at Rs 23 to Rs 25 per equity share with face value Rs 10. The fundraising is expected to take care of Utkarsh's business expansion for the next 18-24 months, managing director Govind Singh said. Among small finance banks, Jana and Fincare are also looking to raise equity via public offer shortly.