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The floor price is 75 times the face value while the cap price is 79 times. Investors can make an application for the issue for a minimum of 18 shares and in multiples thereafter. The company is offering a discount of Rs 75 per share to the eligible employees of the company. Ahead of the issue, the company's shares are demanding a premium (GMP) of Rs 330 apiece in the grey market. The company plans to raise Rs 1,200 crore from the public issue with fresh equity aggregating to Rs 350 crore and an offer for sale (OFS) of Rs 850 crore. Under the OFS, promoters Fabbrica Italiana Lapis, Sanjay Mansukhal Rajani and Keta Mansukhal Rajani will offload shares. The offer is being made through the book-building process, where 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors. The funds raised through the fresh issue are proposed to be utilised for the part funding of the cost of establishing a new manufacturing facility and for general corporate purposes. Doms Industries designs, develops, manufactures, and sells a wide range of 'stationery and art' products, primarily under its flagship brand 'Doms', in the domestic market as well as in over 40 countries internationally. Its core products such as pencils and mathematical instrument boxes enjoy high market shares — 29% and 30% by value in FY23 respectively.

Social justice should be an inherent part of competition laws in the developing world, said Pradeep S. Mehta, Secretary General of CUTS International. Mehta was speaking at the CUTS-WTO-UNCTAD event in Geneva to commemorate the World Competition Day by focusing on socially sensitive sectors in the context of the crises currently facing the world.

EU countries and lawmakers have agreed on rules governing artificial intelligence systems such as ChatGPT after 10 hours of discussions, a person with direct knowledge of the talks said on Thursday. EU governments made compromises in the hopes of gaining lawmakers' backing to be able to use AI in biometric surveillance for national security, defence and military purposes, the person said.

Reserve Bank of India (RBI) and European regulators are yet to resolve a standoff regarding the treatment of the local platform for government bond trading, Deutsche Bank, one of the affected parties, has had to stump up more than ₹1 billion in capital for central counterparty exposures in the last quarter. The massive increase in risk-weighted assets (RWA) for the German banking giant, which plays a major role in handling overseas investment flows into India, came after the European Securities and Markets Authority (ESMA) de-recognised the Clearing Corporation of India in October 2022. According to regulatory reporting documents seen by ET, Deutsche Bank saw its RWA for risk exposure to an unnamed central counterparty clearing house increase to ₹3.76 billion as on September 30 from ₹997 million as on June 30. RWA essentially implies bank capital that must be set aside in accordance with risks.

By Idrees Ali

DLF Ltd’s Emporio mall in Delhi in 2025. Last week, France’s SMCP, the parent company of accessible luxury brands Sandro, Maje, Claudie Pierlot and Fursac, also announced its entry into the Indian market in partnership with Reliance Industries-owned Reliance Brands Ltd (RBL). In a sign of growing appetite for luxury goods in India, Emporio is looking to add new outlets and is in talks with multiple European brands.

Edited excerpts: Yes, it is difficult in a world that has gone from one shot to another with the consequence being fiscal space in countries has shrunk in some countries. The fight against inflation means that interest rates are high, and for countries with a high level of debt that eats up resources. On top of it, with advanced economies now moving towards industrial policy and green subsidies—which overall is a good track to accelerate decarbonization—they become more attractive for private investors because it’s easier to invest in the developed world.

New Delhi: The stock market regulator has issued show-cause notices to about a dozen foreign investors that owned big chunks of Adani group companies as it seeks to lift the veil on their true ownership, two people aware of the matter said. The notices charge the investors with failing to maintain and disclose information about their ultimate beneficiaries. The Securities and Exchange Board of India’s (Sebi) notices to the foreign portfolio investors (FPIs) follow its investigations after US short-seller Hindenburg Research highlighted them in a damning report released in January.

By Julia Symmes Cobb

SEAL Team is going to conclude its run with seventh season, putting an end to the previously mentioned standalone movie. Although the official release date is yet to be revealed, filming is scheduled to begin in December. The initial production start date in spring or mid-2023 was delayed due to strikes.

Bard, in English across 170 countries including India. However, while claiming that the new AI model “exceeds state-of-the-art" AI models, Google executives did not reveal the size of the model in terms of the number of data parameters, or how it compares with OpenAI’s Generative Pre-trained Transformer (GPT)-4 model that underpins the latest versions of ChatGPT, at a media roundtable ahead of the announcement. Eli Collins, vice-president of product at Google DeepMind, said Gemini is “more efficient" than previous AI models developed by Google.

The dance form is widely popular in Gujarat and different parts of the country during the Navratri festival. “The age-old tradition of devotion to Goddess Mother in the form of Garba is alive and growing. Garba which has become the identity of Gujarat has been approved by UNESCO under its intangible cultural heritage list," Patel said in a post on X.

Also Read: Putin to visit Saudi, UAE on December 6 after OPEC+ cuts, host Iran President: What's on agenda? Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a December 18 expiry, was last trading lower by 4.75 per cent at ₹5,791 per bbl, having swung between ₹5,784 and ₹6,068 per bbl during the session so far, against a previous close of ₹6,080 per barrel. -Crude inventories fell by 4.6 million barrels, far exceeding the 1.4 million-barrel drop analysts had expected. There is demand destruction coming in from the fuel side.

NEW DELHI : Online sporting (e-sports) events are emerging as a big revenue opportunity with growing enthusiasm for the nascent gaming sector in India, industry executives said. The country, with 42.5 crore gamers, second only to China, saw a string of e-sports events this year with substantial prize money on offer. On 27 August, e-sports firm Nodwin Gaming, a subsidiary of the only publicly-listed gaming company Nazara Technologies, concluded the second edition of its Battlegrounds India Master Series (BGMS).

premier segment, Bastidon said, adding that overall trade volume of EU spirits is €9 billion, and the US and China are major exporting countries. According to Bastidon, the value of EU’s spirit exports to India in 2022 was a mere €59.7 million compared to €875 million to China.

ChatGPT, Oppenheimer, and multiple cricket tournaments leading the list. Operated by the nonprofit Wikimedia Foundation, Wikipedia has garnered an impressive 84 billion page views in 2023, according to reports. The virtual chatbot ChatGPT, developed by OpenAI, emerged as the top-viewed page on Wikipedia for the year, capturing over 49.4 million page views.

Directorate of GST Intelligence (DGGI) over the secondment issue, sources in the know told ET. Secondment or deputation of expatriates is subject to GST if the expatriate employee is being reimbursed by the Indian company for the services provided to the company. As per the GST law the Indian company is deemed as the recipient of the service, and the services provided by the expatriate will be considered as a «supply of manpower» under the GST law. Thus the Indian company is liable to pay GST on the value of the deemed supply at the applicable rate.

Visa has unwrapped an overview of payment trends observed during recently concluded ICC Men's Cricket World Cup 2023. As per Visa’s data, there has been a 12.5% growth in contactless cross border transactions during the World Cup as compared to July 2023, before the festive season began.

His comment comes amid a bitter battle between electronics giants Apple and Samsung over the timelines for implementation of the new charging port regulation. Analysts have advised caution saying any hasty decision by the government could impact India's smartphone exports. According to officials aware of the details, while there is consensus on the proposal to adopt USB Type-C as the standard charging port, there are differences over the timeline for implementation. «Samsung is pushing for implementing the charging mandate along with European Union (EU) timeline for smartphones, which is December 28, 2024; Apple suggested an EU+6 months' timeline for new models and an EU+18 months, if existing models are also included in the mandate,» said an official privy of the details. Other smartphone makers such as Vivo, Xiaomi, Lenovo, and Realme also proposed EU+6 months' timeline for smartphones during the meeting, the official added.

Omar Abdullah has said that the people of Jammu and Kashmir were unhappy with the decision to bifurcate the state into Union territories and remove its special status. The August 5, 2019, order of the Centre has hurt J&K's relationship with the rest of the country, he said. The ex-CM's comments came in the backdrop of the passage of the J&K Reservation (Amendment) Bill and the J&K Reorganisation (Amendment) Bill by the Lok Sabha. On her part, Mehbooba Mufti, another ex-CM, said the reservation bill was illegal as the 'issue was sub-judice'.

Private investments will likely gather momentum and get more broad-based in the second half of the year, providing support for the economy to grow 6.8% in FY24, Confederation of Indian Industry president R Dinesh told ET. «We actually found a significant majority of our members, which we surveyed, saying that their investments in H2 are going to be higher than H1. Investments are also more broad-based this time,» Dinesh said, adding that even capacity utilisation is between 75% and 95% for most sectors. He pointed out that investments were also picking up in service sectors such as real estate and hotels, as well as infrastructure-related industries.