business news
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Business
Hero Motors Withdraws ₹900 Crore IPO
Hero Motors Ltd., part of the Hero Motors Company Group, has officially withdrawn its draft red herring prospectus (DRHP) for a ₹900 crore initial public offering (IPO). The company initially intended to raise ₹500 crore through new equity issuance and ₹400 crore via a promoter-led offer for sale. As per a filing with SEBI on October 5, 2024, Hero Motors…
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Business
Vistara to Merge with Air India as Singapore Airlines Gains FDI Approval
Singapore Airlines (SIA) announced on Friday that it has secured approval from the Indian government for foreign direct investment, marking a crucial step in the merger of its 49% joint venture, Vistara, with Air India. This move is part of SIA’s strategy to integrate Vistara into Air India, which is owned by Tata, to establish a leading full-service airline with…
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Business
Japan’s Seven & i Seeks Preemptive Measures Amid Foreign Takeover Interest
Seven & i Holdings, the operator of 7-Eleven convenience stores, is reportedly seeking enhanced government protection in Japan, just days after revealing that it had received a preliminary takeover offer from Canada’s Alimentation Couche-Tard. This move by the $38 billion company raises concerns as it appears to contradict the Japanese government’s efforts to rejuvenate the economy by encouraging corporate reforms…
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India News
Anil Ambani Faces Major Setback as SEBI Bans Him from Securities Market
Anil Ambani, a prominent figure in Indian business and chairman of the Reliance Group, was recently barred from the securities market for five years and fined approximately $3 million by the Securities and Exchange Board of India (SEBI) on charges related to the diversion of funds. Ambani responded by stating that he is reviewing the order and will take the…
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