Wednesday, October 07
Mizuho Financial Group Inc. is on the verge of buying a majority stake in investment bank Avendus Capital Pvt, people familiar with the matter said, in what would be the latest acquisition by a Japanese bank in India.Executives are hammering out details of a transaction that could be finalized as soon as this month and value Avendus at about $800 million, including debt, the people said, asking not to be identified because the deliberations are private. Mizuho, Japan’s third-largest lender, plans to acquire KKR & Co.’s 63% stake in Avendus and may also buy shares from minority investors, bringing its total holding to about 70%, the people added.Representatives for Mizuho and KKR declined to comment. Avendus didn’t immediately respond to a request for comment. Bloomberg News repor
New Delhi: Global economic growth is projected to slow to 2.3% in 2025, its slowest pace since 2008 outside of recessions, due to rising trade tensions and policy uncertainty, according to the World Bank. As a result, growth forecasts have been downgraded in 70% of economies. The global GDP growth projection has been revised downwards from 2.7% forecasted in January. The World Bank expects global output to grow by 2.4% in 2026 and 2.6% in 2027. If current projections hold, the first seven years of the 2020s will mark the slowest average global growth of any decade since the 1960s, the report noted. "Growth in developing economies has ratcheted down for three decades-from 6% annually in the 2000s to 5% in the 2010s-to less than 4% in the 2020s," said Indermit Gill, World Bank's group's chie
The proposed national e-commerce and retail trade policies are under discussions as both are linked to each other, Commerce and Industry Minister Piyush Goyal has said. Since the e-commerce sector is an evolving and fast-changing subject, "we did come out with certain ideas, but I think we will have to revise the policy to make it more contemporary, and it is under discussion," he said. The minister added that the retail trade policy is also under discussion because they are linked to each other. The Department for Promotion of Industry and Internal Trade (DPIIT) has asked the National Traders' Welfare Board to provide suggestions for the formulation of the national retail trade policy. In 2021, a draft retail trade policy was prepared for streamlining retail trade and development of all f
Fragrance maker Sacheerome’s initial public offering (IPO) is gearing to wrap up on a high note Wednesday, with its grey market premium (GMP) surging to Rs 41, up from Rs 30 a day earlier, indicating a likely listing price of Rs 143. That’s a 40.2% premium over the IPO’s cap price of Rs 102, underscoring red-hot investor interest in the SME issue.By 10:55 a.m. on the final day of bidding, the IPO had been subscribed 60.65 times in total. The Non-Institutional Investor (NII) portion led the charge with 130.15 times subscription, followed by the retail category at 60.04 times. The Qualified Institutional Buyer (QIB) segment saw more tempered interest, subscribing 9.53 times.Sacheerome IPO GMPOn Day 2, the GMP stood at Rs 30, pointing to a potential listing price of Rs 132, a 29.4% prem
