Tuesday, October 06
Prudential Plc’s Indian asset-management venture is close to filing preliminary documents with the local regulator for a proposed initial public offering that may fetch as much as Rs 10,000 crore ($1.2 billion), according to people familiar with the matter. ICICI Prudential Asset Management Co.’s so-called draft red herring prospectus will probably be filed in the next three to four weeks, the people said, asking not to be identified as the information is private. The company has hired a record 17 lead managers for the offering, which may value the firm at about $12 billion, they said. The submission would kickstart the review process of what could be one of India’s biggest IPOs this year, the latest sign that the country’s new-listings market is on the cusp of a revival. That come
New Delhi: India could rope in the expertise of Germany, France, Australia, Singapore, Japan, South Korea and Italy to create a pool of skilled manpower that meets global standards for over half-a-dozen sectors, where the country has the potential to substantially scale up manufacturing, a senior government official told ET. The identified sectors include automotive and precision manufacturing, electronics, pharmaceuticals, textile and apparel, aerospace and defence, and engineering and construction technology.The Ministry of Skills Development and Entrepreneurship will transform five National Skills Training Institutes into National Centres of Excellence, as announced in budget 2025-26. The government has earmarked ₹1,000 crore to upgrade these centres and provide skills training over a
