Enterprise Financial News

Muthoot Finance, submitted draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) to raise ₹1,300 crore through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the initial public offering (IPO) of the Chennai-based company comprises a ₹1,000 crore fresh issue of equity shares and an offer-for-sale (OFS) of ₹300 crore by existing investor shareholders.

Muthoot Finance's microfinance arm, Belstar Microfinance, has filed preliminary papers with capital markets regulator SEBI to raise Rs 1,300 crore through an initial public offering (IPO). Belstar Microfinance, a Non-Banking Finance Company — Micro Finance Institution (NBFC-MFI), offers a wide range of loan products, such as micro-enterprise, small enterprise, consumer goods, festival, education and emergency loans.

Hero MotoCorp, Larsen & Toubro (L&T), Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum, State Bank of India (SBI), Eicher Motors, and Tata Motors are among the prominent names on the roster. Godrej Consumer Products, CG Power and Industrial Solutions, Lupin, Indian Bank, Marico, Gujarat Fluorochemicals Limited, Grindwell Norton, DCM Shriram, Happiest Minds Technologies, Route Mobile, Arvind, Prudent Corporate Advisory Services, Choice International, Fusion Micro Finance, Gujarat Heavy Chemicals, Muthoot Microfin, The Bombay Dyeing Co., CarTrade Tech, Arvind SmartSpaces, Moschip Technologies, Styrenix Performance Materials, Suven Life Sciences, Apcotex Industries, Aeroflex Industries, Punjab Chemicals & Crop Protection, Kamdhenu, Automotive Stampings and Assemblies, Uttam Sugar Mills, ALLSEC Technologies, Selan Exploration Technology, GHCL Textiles, Orbit Exports, Indian Bright Steel Company, Chemcrux Enterprises, KPT Industries, Alphalogic Industries, Capital Trade Links, Syschem (India), Indian Acrylics, Smruthi Organics Limited, Evexia Lifecare, Gujarat Toolroom, Asarfi Hospital and others.

₹1,670) per month. In a post on X, OpenAI said users can just start a new chat and tell ChatGPT anything they’d like it to remember. For example, preferences on how you’d like ChatGPT to summarise your meetings.

In the January-to-March quarter, Amazon’s cloud computing arm Amazon Web Services, Microsoft’s Azure and Google Cloud grew at 17%, 31% and 28%, respectively, the companies reported. Analysts said this was a sign that AI is contributing to the growth and that overall cloud spending is also accelerating, Reuters reported. On the other hand, Meta CEO Mark Zuckerberg in its earnings call emphasised the company’s longterm investment in AI, which led to its shares sinking by 19% on Wednesday, wiping out over $200 billion in market capitalisation. US NEWSPAPERS SUE MICROSOFT, OPE

KKR is all set to acquire Healthium Medtech ( formerly Sutures India) from its current PE owners Apax Partners for Rs 7000 crore ($840 mn) enterprise value after a hotly contested three way race that also included a consortium of Mankind Pharma — ChrysCapital and Novo Holdings, the controlling shareholders of Danish drug major Novo Nordisk, said people aware. KKR and Apax have signed the binding agreement for the acquisition of Bengaluru based Healthium Medtech and likely to make a formal announcement as early as Monday, the people mentioned above added. Healthium is the largest manufacturer of surgical needles globally by volume. Moneycontrol was the first to report on Saturday that KKR was the highest bidder for Healthium.

Krutrim AI, an artificial intelligence (AI) startup founded by Ola Electric's Bhavish Aggarwal, on Saturday launched a mobile app for its chatbot which will compete with the likes of OpenAI's ChatGPT and Google's Gemini. In an event on Sunday, the company announced that it has opened up its cloud platform — Krutrim Cloud — to enterprises, developers and researchers, to help them develop technology products at lower costs.

private investment that offers a plethora of financial products and services to the customers across all the categories. Some Indian fintech companies like Paytm, Upstox, Groww, Phonepe and others serve individual domestic customers, while others like Intellect Design Arena create advanced technology solutions for banking and insurance clients globally.

Adani Enterprises has expressed interest in developing the port of Bataan in the Philippines. This was confirmed by an official statement from the Presidential Communications Office on Friday. During a discussion with Philippine President Ferdinand R.

Also Read | CEO Tim Cook satisfied with Apple's 'strong double-digit growth' in India as company reports record revenues In the message, Pantoja warned, "Your first and only warning: do not try to poach my employees or you will have no employees yourself," ending the note with a sarcastic "With much love," as quoted by NDTV. Also Read | Adani Enterprises share price dips over 1% after six arms get SEBI show-cause notices over Hindenburg report Opting for transparency, Schwanke chose not to censor the names involved, explaining that she felt "an unwarranted threat" did not merit privacy.

JSW Neo Energy and Sekura Energy are among five bidders that have made non-binding offers to acquire a controlling stake in Ayana Renewable Power, majority owned by National Investment and Infrastructure Fund (NIIF), according to people aware of the matter. The offers were submitted on April 19. The others in the fray include Masdar, Sembcorp and Macquarie, according to the people cited. The bids were submitted after allowing time to the suitors to conduct a limited due diligence that included access to some data and confidential financial information. As the next step, NIIF will communicate a shortlist of suitors over the next few weeks after which two or at best three will be allowed to conduct detailed due diligence, according to the sources.

₹17,000 crore, amounting to 60-70% of its capital expenditure requirement. The loan, from a consortium led by India's largest lender SBI, will be part of a financial closure programme for Adani Petrochemicals Ltd’s coal-to-polyvinyl chloride plant, which would be India's largest PVC manufacturing facility once completed. The group had in March last year halted the project saying it had decided to hold major equipment procurement and site construction activities pending financial closure, following the Hindenburg report that had alleged financial fraud at Adani Group companies.

₹1,550. "We largely retain our estimates and reiterate our BUY rating with a revised TP of ₹1,550 (based on 17x FY26E EV/EBITDA)," said the firm in a note. Adani Ports & SEZ (APSEZ) reported a revenue growth of 19 per cent year-on-year (YoY) to ₹68.9 billion in 4QFY24.

Shares of Prestige Estates Projects Ltd.(up 4.27 per cent), Godrej Properties Ltd.(up 1.47 per cent), Sobha Ltd.(up 0.7 per cent) and Mahindra Lifespace Developers Ltd.(up 0.25 per cent) ended the day as top gainers in the pack.

Sattrix Information Security has filed its draft red herring prospectus (DRHP) with the BSE SME for an IPO. The issue is completely a fresh equity sale of 18 lakh shares and through it, the company plans to raise around Rs 20 crore. In the public offer, about 50% is reserved for allocation to retail investors and the the other 50% will be allocated to non-retail investors.

RattanIndia Power Ltd.(up 4.38%), CESC Ltd.(up 2.00%), Power and Instrumentation(Gujarat)Ltd.(up 1.92%), Karma Energy Ltd.(up 1.91%), GE T&D India Ltd.(up 1.13%), PTC India Ltd.(up 1.11%), NHPC Ltd.(up 1.03%), NTPC Ltd.(up 0.99%), Torrent Power Ltd.(up 0.69%) and Adani Green Energy Ltd.(up 0.45%) were among the top gainers.

Q4 results today: Fiftycompanies will announce their financial results for the fourth quarter of FY24 (January-March 2024), on May 3, 2024. The Indian equity market stayed stable in response to the unchanged monetary policy stance of the US Federal Reserve, with both the Sensex and the Nifty closing with modest gains on May 2 (Thursday).

Nyrika Holkar has the additional task of leading a refrigerator-to-aerospace behemoth from the front. Holkar, executive director and future managing director candidate at Godrej & Boyce (G&B), fronted the succession settlement with her legal team along with Pirojsha Godrej from the Adi Godrej side of the family. Nyrika is understood to have been quietly working on the plan for the last five years, officials close to the matter said.

RFG has just expanded its reach in the East Coast as it supports the launch of a new wealth practice in North Carolina.

Tata Communications has raised $250-million loan from ANZ, DBS and Export Development Canada for five years under the sustainability-linked loan (SLL) framework, chief financial officer Kabir Ahmed Shakir said. The company will look at the framework for long term debt financing and refinancing of existing debt, he said. "Our endeavour is to finance our future borrowings (including refinancing of existing debt as it matures) under the SLL released.

Google Cloud Security, in an interaction. “With AI, we’re able to achieve simple translation of native language to query language, which will provide actionable information and summarize the information," he added.