Avenue Supermarts Ltd, which operates pan India supermarket chain DMart, has initiated preliminary discussions with merchant bankers for a stake sale by the promoters in early 2020, sources with knowledge of the matter told Moneycontrol.The promoters, led by veteran stock market investor Radhakishen Damani, hold 80.21 percent stake in the company. SEBI's minimum public shareholding (MPS) rule for listed companies stipulates that promoters cannot own more than 75 percent, and that public shareholders should own a minimum 25 percent..“This will be a big share sale in excess of Rs 6000 crores as per the current m-cap," said one of the sources.Close "The company has met multiple merchant bankers recently for the same and is expected to shortlist them in the next two weeks,” the source said. related news Newly listed companies are given a three year window to comply with the SEBI rule on minimum public shareholding. Avenues Supermarts listed on the … [Read more...] about Avenue Supermarts promoters plan to trim stake by Feb 2020 to meet SEBI rule
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The Life Insurance Corporation of India-(LIC) and National Stock Exchange (NSE)-backed multi-commodity exchange National Commodity & Derivatives Exchange Limited (NCDEX), which is the market leader in agri-commodity trading has initiated preliminary discussions with merchant bankers to raise funds via an initial public offer, sources told Moneycontrol."NCDEX is in talks with SBI Capital and ICICI Securities to raise around Rs 400 crore to Rs 500 crore via an IPO for growth capital and provide an exit window for their investors. The plan is to file a DRHP by end 2019," a source said.Multi Commodity Exchange (MCX) which deals mainly in metals and energy is currently the only listed commodity bourse in India.Close According to the NCDEX website, NSE is the largest shareholder in the exchange with a 15 percent stake, followed by LIC (11.10 percent), National Bank For Agriculture & Rural Development (NABARD, 11.10 percent), Indian Farmers Fertiliser Cooperative … [Read more...] about NSE-, LIC-backed NCDEX eyeing IPO by end 2019
When Wall Street executives received hundreds of millions of dollars in bonuses after receiving billions in government bailout money during the financial crisis, the popular reaction was outrage. Yet some on Wall Street were actually outraged by the outrage: The uproar over bonuses “was intended to stir public anger, to get everybody out there with their pitchforks and their hangman nooses,” said former AIG CEO Robert Benmosche. advertisement advertisement In the wake of the crisis and recession, despite the fact that nearly all the gains of the recovery have gone straight into the bank accounts of the wealthy, America’s billionaires keep doing things like comparing themselves to persecuted Jews in Nazi Germany and talking about the ever-popular pitchforks. Many aggressively denounce policies designed to redistribute wealth as “class warfare.” It’s been noted extensively that if there is any class warfare happening, it’s the wealthy … [Read more...] about Where Are These Pitchforks That Billionaires Are So Scared Of?
With little over a month to go for the Mobile World Congress 2019, the Internet can’t help but speculate about the Samsung Galaxy S10. With fresh rumours regarding features and specs of the Galaxy S10 doing the rounds every day, it is good to finally have something concrete, even if it’s something as minuscule as an in-display fingerprint scanner.The Samsung Pay App's code all but confirmed the news of an in-display fingerprint sensor. XDA Developers dug deep into the internal code of Samsung’s Pay App to confirm several UI adjustments for what seems to be an in-display fingerprint sensor. The updated system will be able to identify whether a phone has a fingerprint sensor in the display or not, and accordingly adjust the layout of the payment flow window. Preliminary reports suggest that Samsung are likely to use an ultra-sonic in-display fingerprint sensor rather than a less accurate optical one.Another confirmation is that the Samsung Galaxy S10 will leverage … [Read more...] about Samsung Galaxy S10 to feature in-display fingerprint scanner and Snapdragon 855 SoC
From LCDs, Plasma TVs, LEDs, OLEDs in the past to QLEDs now, display technology has advanced quite progressively much to the delight of the consumers who will get more value for their money. QLED TVs are expensive, but would you fancy one for just above Rs 1 lakh? TCL may have an answer.Most QLED TVs or equivalent ones start from Rs 1, 40,000 and above. TCL's 65-inch QLED TV- the X4 65X4US - priced at Rs 1,09,000 has raised the bar for quality at affordable rates.Chinese TV manufacturer TCL is among the biggest TV manufacturers in the world. It is known for offering products without a hefty price tag.Close With this new launch, the cheapest of such kind in India, TCL perhaps aims to attract the upper-end of the market. related news Redmi Note 8 Pro sale today at 12 pm: Specifications, price, offers Samsung Galaxy Tab S6 is the best Android tablet you could buy Nokia 8.2 expected to be launched at MWC 2020 in a single 5G variant The competitors … [Read more...] about Everything you need to know about India’s cheapest QLED TV