TechCrunch on Friday reported, citing sources, that the fresh funding will take the company’s valuation to about $2.5 billion.
The PMC Bank had received binding offers from certain investors for its reconstruction, in response to the EOI dated November 3, 2020 floated by the bank.
The across-the-board selloff was led by metal, oil and gas and financial stocks.
At the closing bell, the BSE S&P Sensex was down by 179 points or 0.34 per cent at 52,323 while the Nifty 50 tumbled by 76 points or 0.48 per cent to 15,691.
The credit rating agency said pharma company sales will grow in FY22 as sales normalise in categories affected by the pandemic in the previous year.
Nazara has signed a binding term sheet to acquire the majority stake in Arrakis Tanitim Organizasyon Pazarlama San Tic Ltd Sti (Published) by way of primary and secondary transaction through its subsidiary.
Around 10.10 a.m., Sensex was trading at 52,645.30, lower by 127.75 points or 0.24 per cent from its previous close of 52,773.05.
It had reported a profit after tax of Rs 421.43 crore in the year ago period. For FY2020-21, net profit grew by 14 per cent to Rs 2,734.34 crore as against Rs 2,401.84 crore in the previous year.
Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution.
Addressing a press conference on Tuesday Congress spokesperson Gaurav Vallabh said: “What are the findings of the NSDL and SEBI in the investment and if there is something dubious the case should be handed over to Enforcement Directorate.”
In addition, in many cases, institutional and mutual funds holdings have decreased in the March 2021 quarter. In addition, mutual fund holdings in the stocks are very low.
Speaking to PTI, Anupam Rasayan Chief Financial Officer (CFO) and spokesperson Afzal Malkani said the company’s total debt is about Rs 840 crore.
Gartner anticipates that in 2023, $30 billion in revenue will be generated by products and services that did not exist pre-pandemic.
The venture debt round comes after a USD 25 million equity round, which concluded in January this year.
In the international market, gold was trading lower at USD 1,858 per ounce and silver was flat at USD 27.70 per ounce.
Shop101 employs nearly 300 professionals and is backed by Vy Capital, Stellaris Venture Partners, Unilever Ventures and Kalaari Capital.
FPIs have made a comeback after pulling out investments for two consecutive months. In April and May, net selling by FPIs stood at Rs 9,659 crore and Rs 2,954 crore.
The miner though failed to achieve targeted production and offtake targets for FY21 but it has surpassed the revised capital expenditure target of Rs 13,000 crore.
The last initial public offering (IPO) was that of Macrotech Developers (erstwhile Lodha Developers), which opened during April 7-9.
The company, which is part of Eicher Motors, noted that it has a rich pipeline of products under development which could hit the market in the coming days.
The development follows the approval of the resolution plan of Piramal Capital & Housing Finance Ltd to acquire the bankrupt company.
Sources said that PSBs may be provided this year just after their first quarter results before October. This would be a departure from the practice of previous year when bank capitalisation was undertaken late in the year and towards the end of fiscal.
According to its Twitter handle, the LIC has barred any websites, publishing houses or digital entities from publishing its logo without the prior permission.
The loan covers expenses of Covid treatment of the customer and his/her family members.
As per Crisil’s website, the capability of entities graded CRISIL ‘GVC Level 1’ with regard to corporate governance and value creation for all stakeholders is ‘excellent’.