Page 1669 - Company News
Bureau of Indian Standards to engage e-commerce players for self-regulation
India's e-commerce market is estimated at $50 billion in 2022, and is expected to grow to more than 25 per cent per annum to reach $150-170 billion by 2027
 "Bureau of Indian Standards to engage e-commerce players for self-regulation")
Paytm board okays share buyback worth Rs 850 crore at Rs 810 per share
Assuming a full buyback of Rs 850 crore and applicable buyback taxes, the total outlay would be in excess of approximately Rs 1,048 crore
 "Paytm board okays share buyback worth Rs 850 crore at Rs 810 per share")
Abans Holdings IPO registers 28% subscription on second day of offer
The Initial Public Offer (IPO) of Abans Holdings, financial services arm of the Abans Group, was subscribed 28 per cent on the day two of offer on Tuesday
 "Abans Holdings IPO registers 28% subscription on second day of offer")
Landmark Cars IPO receives 17% subscription on first day of offer
The initial public offer of automobile dealership chain Landmark Cars received 17 per cent subscription on the first day of offer on Tuesday
 "Landmark Cars IPO receives 17% subscription on first day of offer")
Paytm board approves Rs 850-crore share buyback via open market
Company's directors and key management personnel will not sell any shares during the buyback period
 "Paytm board approves Rs 850-crore share buyback via open market")
PTC India appoints Mohammad Afzal as power ministry nominee director
Power trading solutions provider PTC India on Tuesday said Mohammad Afzal has been appointed as power ministry nominee director on its board
 "PTC India appoints Mohammad Afzal as power ministry nominee director")
Tata Power gets shareholder nod to appoint Mehrishi as independent director
Tata Power has received shareholders approval to appoint former Union home secretary Rajiv Mehrishi as an independent director on its board.
 "Tata Power gets shareholder nod to appoint Mehrishi as independent director")
Foodtech firm SaveEat raises $500,000 in funding to expand business
Start-up's app helps eateries sell their surplus food and gives customers discounts
 "Foodtech firm SaveEat raises $500,000 in funding to expand business")
HC asks Irdai to consult insurance firms about health cover for disabled
Court asked regulator and insurance companies to submit a status report before March 17, 2023
 "HC asks Irdai to consult insurance firms about health cover for disabled")
Reliance Industries Ltd is India's most-visible company, says report
Reliance Industries Ltd, India's largest corporate by revenues, profits, and market value, topped the 2022 Wizikey Newsmakers report as India's most-visible corporate in the media
 "Reliance Industries Ltd is India's most-visible company, says report")
Byju's lenders seek immediate part-repayment of $1.2 billion loan
The lenders have hired Houlihan Lokey Inc. to advise them on amending covenants after the edtech titan breached terms, including a September deadline for filing its results
 "Byju's lenders seek immediate part-repayment of $1.2 billion loan")
Fosun's sale of Gland Pharma to become India's biggest pharma deal: Report
With the acquisition, Gland pharma may also get access to global companies like AstraZeneca, Sanofi, Mylan, and Organon
 "Fosun's sale of Gland Pharma to become India's biggest pharma deal: Report")
Online education company for IT services Pluralsight lays off 400 employees
Online education company for IT professionals, Pluralsight, which was recently valued at more than $1 billion has announced to lay off 20 per cent of its global workforce, about 400 employees
 "Online education company for IT services Pluralsight lays off 400 employees")
Meta shuts down Connectivity division; plans to split segment across teams
Meta has reportedly shut down its Connectivity division almost 10 years after launching the initiative
 "Meta shuts down Connectivity division; plans to split segment across teams")
Paytm board to consider share buyback today; check all details here
According to the company's liquidity report, Paytm has liquidity of Rs 9,182 crore, and in November, the company stated that it would become cash flow positive in the next 12-18 months
 "Paytm board to consider share buyback today; check all details here")
Paytm's share buyback plan draws skepticism over growth prospects
While a buyback could help stem the rout in Paytm shares at least temporarily, investors are questioning the attempt to manage the stock price rather than putting the cash to use for business
 "Paytm's share buyback plan draws skepticism over growth prospects")
With focus on efficiency, start-ups scale back ops in major reversal
Many quick commerce firms have scaled back their dark stores (warehouses) in the past few months
 "With focus on efficiency, start-ups scale back ops in major reversal")
White-collar workers turn to gig jobs in search of better work-life balance
The demand for the white-collar gig workforce in the previous quarter has gone up seven times as compared to the same period last year
 "White-collar workers turn to gig jobs in search of better work-life balance")
Helped by PLI scheme, Apple's India exports set to hit Rs 20,000 crore
iPhone exports from India cross $0.5 bn in November when tech giant's production in China suffered
 "Helped by PLI scheme, Apple's India exports set to hit Rs 20,000 crore")
Jaiprakash to sell cement, power units to Dalmia Group for Rs 5,666 cr
Deal will give buyer entry into high-growth markets of UP and MP, may turn the firm into a net debt company from almost debt free now
 "Jaiprakash to sell cement, power units to Dalmia Group for Rs 5,666 cr")