TBO Tek’s Rs 1,551-crore initial public offering (IPO) continued to receive strong investor response entering the third and final day on May 10 as the issue was subscribed over nearly 86.70 times. Investors have bid for 80.50 crore equity shares as against 80.50 lakh shares on offer. NIIs showed interest in the offer, buying nearly 50.60...
Tesla Inc.’s directors say they don’t want a do-over in Texas of the Delaware court battle that killed co-founder Elon Musk’s $56 billion pay package — regardless of whether shareholders approve reincorporating the electric-car maker in the Lone Star state. Lawyers for Tesla’s board say an investor who persuaded a Delaware judge to void Musk’s...
Mauritius-based IndusInd International Holdings (IIHL) is eyeing a valuation of $50 billion by 2030 with the acquisitions of the debt-ridden Reliance Capital (RCAP) and Invesco Mutual Fund, up from the $30 billion it expected a year-ago before the RCAP buy. IIHL is yet to get a nod from insurance watchdog Irdai for its Rs 9,650-crore...
In a bold move on Monday, Elon Musk extended an invitation to renowned billionaire investor Warren Buffett, urging him to consider investing in Tesla. The call comes as Tesla grapples with challenging times amidst a worldwide slump in electric vehicle (EV) sales. Responding to a user on X, who suggested that Berkshire Hathaway owner Buffett...
Six Adani Group firms have received show cause notices from the Securities and Exchange Board of India (SEBI) for alleged breaches in related party transactions and non-compliance with listing regulations, the companies disclosed in their regulatory filings to the stock exchanges. Adani Enterprises, the flagship firm of the group, disclosed the receipt of two show-cause...
Sensex crashed over 1,000 points on Friday afternoon due to profit-booking and a decline in the share prices of blue-chip Reliance Industries, wiping out gains made in initial trading. Nifty too fell 275 points or 1.22% since yesterday’s closing.
The National Company Law Tribunal (NCLT) in Bengaluru issued notice in an insolvency plea filed by mobile phone manufacturer Oppo against embattled ed-tech company Byju’s. The plea is now likely to come up for hearing again in the last week of May, as the tribunal will go on a summer break from May 3. OPPO Mobiles filed a...
The founding family of 127-year-old Godrej Group, which spans from soaps, home appliances to real estate, has decided to split the conglomerate, with Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land...
Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why input tax credit worth Rs 27.46 crore should not be recovered from it. The Yoga guru Ramdev-led Patanjali Ayurved Group firm, which is mainly into the edible oil business, has received the notice from the...
Now stream as cheaply as possible, and that too without ads! Reliance Jio has launched JioCinema Premium, offering a wide range of premium content starting at just Rs 29 per month. Now, you can enjoy premium content for less than a rupee per day, including IPL, Game of Thrones, and a wide range of cartoons. Mukesh Ambani has made premium...