Top headlines: Sebi eases listing rules for large IPOs, Bitcoin hits record

A month into the Covid-19 immunisation drive, as many as 21 states and Union Territories (UTs) have not administered a single shot of Covaxin from Bharat Biotech. Read top news with Business Standard

Sebi eases listing rules for large IPOs, paving way for LIC's mega float

The Securities and Exchange Board of India (Sebi) on Wednesday eased the listing norms for large companies, apparently paving the way for the much-awaited mega float of Life Insurance Corporation (LIC). The regulator said large companies can now divest a minimum 5 per cent in the IPO, instead of 10 per cent. Further, they will get five years, instead of three, to raise the public float to 25 per cent. Read more
 

Cabinet approves over Rs 12,000-crore PLI scheme for telecom sector

Following the launch of a production-linked incentive (PLI) scheme for manufacturing, India on Wednesday launched the scheme for telecommunications (telecom) and networking products, with an outlay of Rs 12,195 crore over five years. It will be implemented from April 1. Read more
 

Finance Ministry asks RBI to ensure a higher dividend for govt in FY22

The finance ministry has asked the Reserve Bank of India (RBI) to make every effort to secure a higher dividend for the government in the financial year 2021-22 (FY22), despite sliding interest rates globally, sources in the know said. It has also sought the RBI’s advice on gold monetisation. Read more

Bitcoin soars to new high above $52,000; sustainability concerns rise

The world's biggest digital currency, with a market capitalization of over $900 billion, hit a record of $52,577.50, fueled by signs it is winning acceptance among mainstream investors and companies, such as Tesla, Mastercard and BNY Mellon. Read more

RIL deal: Amazon urges NCLT not to allow Future Group shareholders meet

Amazon has approached the National Company Law Tribunal (NCLT) urging it not to allow convening of any meeting of Future Group's shareholders or creditors for approval of its proposed Rs 24,713 crore deal with Reliance Industries. Read more
 

NBFC stress will ease from FY22 with recovery in the economy: Experts

The stressed asset pool of non-banking financial companies (NBFCs) has swollen since the end of the moratorium. However, this trend is set to turn in the next financial year (FY22) with the recovery in the economy, say industry insiders. The level of stress in the sector will be less intense as economic activity has been improving gradually, resulting in better collection efficiencies of these lenders. Read more
 

Bharti Airtel buys Warburg Pincus' 20% stake in DTH arm for Rs 3,126 crore

The company on Wednesday announced the acquisition of Warburg Pincus’s 20 per cent stake in its direct-to-home (DTH) arm. Airtel, which is locked in a fierce competition with Reliance Jio in the telecom space, aims to align the ownership of its consumer-facing businesses, with the Warburg Pincus transaction. Read more

States shying away from administering Bharat Bio's Covid-19 vaccine Covaxin

A month into the Covid-19 immunisation drive, as many as 21 states and Union Territories (UTs) have not administered a single shot of Covaxin from Bharat Biotech, according to data. While some states like Chhattisgarh have opted not to use the Covaxin doses allotted to them, most UTs and northeastern states have not been allotted the vaccine by the Centre. Read more

Lockdown disruption pushing consumers towards home purchase: Survey

The latest survey by property consultant Anarock and Confederation of Indian Industries shows people are now more willing to own a home than pre-Covid days. Conducted across 20 cities on consumers in the age group of 26-71 years, it shows a significant share of buyers (24 per cent) has already booked homes. Read more