The Economic Times
The Economic Times LG eyes up to $15 billion valuation for India unit IPO: Report
LG Electronics may boost its Indian unit's valuation to $15 billion for a Mumbai IPO in 2025. The roadshow will begin within two months. The company initially targeted a $13 billion valuation. LG may raise $1 billion to $1.5 billion. Indian IPOs are booming, with nearly $18 billion raised this year.
The Economic Times Trade gap widens by record 39% in November
India's November merchandise trade deficit soared to a record $37.8 bn due to surging gold imports and contracting exports. While petroleum product price drops impacted exports, non-petroleum and service exports showed growth. Officials remain optimistic about reaching the $800 bn export target, citing festive demand and global uncertainty as factors driving gold imports.
The Economic Times India Inc gets past Rs 3 lakh crore mark in equity fundrace
Those launching public issues this week include DAM Capital Advisors, Ventive Hospitality, Carraro India, Senores Pharmaceuticals, Transrail Lighting, Concord Enviro Systems, Sanathan Textiles and Mamata Machinery. Inventurus Knowledge Solutions closed on Monday and International Gemological Institute will end on Tuesday, adding up to a total of ₹14,000 crore being raised this week by 10 companies.
The Economic Times Zomato Global Finance Head Hemal Jain resigns
Jain, who also served as the Chief Financial Officer of Hyperpure by Zomato, is stepping down to explore opportunities outside the organisation with 31st of January, 2025 being her last working day. Zomato has not yet disclosed plans for Jain's successor.
The Economic Times Dental products firm Laxmi Dental gets Sebi's go ahead to float IPO
Laxmi Dental Ltd has received approval from Sebi for its IPO, comprising a fresh issue of ₹150 crore and an OFS of 1.28 crore shares. Proceeds will fund subsidiary investments, machinery purchases, debt repayment, and general corporate purposes. A pre-IPO placement of ₹30 crore is also being considered.
The Economic Times GK Energy files DRHP with Sebi, plans to raise Rs 500 crore via fresh issue
The IPO will comprise a fresh issue of shares worth ₹500 crore (face value ₹2) and an OFS of 84 lakh shares, as per the DRHP. The OFS includes 80 lakh shares by Gopal Rajaram Kabra and 4 lakh by Mehul Ajit Shah.
The Economic Times Anand Rathi Share and Stock Brokers files draft papers with Sebi for Rs 745-cr IPO
Anand Rathi Share and Stock Brokers has filed for an IPO to raise Rs 745 crore, aiming to bolster its working capital. The brokerage firm, serving a wide range of clients, saw revenue jump to Rs 682 crore in fiscal 2024, with profits also surging. The IPO comprises fresh equity shares and may include a pre-IPO placement.
The Economic Times India's banking sector poised for continued resilience: S&P Global
India's financial sector is poised for continued resilience, bolstered by structural improvements and robust economic growth prospects, according to the S&P Global Ratings 2025 banking outlook.
The Economic Times Indian IT services hiring to remain low till growth momentum picks up by H2 FY26: ICRA
Indian IT services hiring is expected to remain subdued until the second half of FY2026 due to lower tech spending and macroeconomic uncertainty. Reduced attrition and increased employee utilization also contributed to the slowdown. Generative AI's impact on productivity may further moderate future hiring.
The Economic Times Open networks can create economic impact of Rs 67K cr annually in India's mobility sector: ONDC
Open Networks can generate an annual economic impact of up to Rs 67,000 crore in India's mobility sector, driving inclusive growth and strengthening local economies, according to a whitepaper, released by the government-run Open Network for Digital Commerce (ONDC) on Monday.
The Economic Times Microsoft’s new initiative to empower workforce with AI skills
Microsoft is launching an impactful AI Skills Initiative to upskill 1 million individuals across Australia and New Zealand by 2026. This effort is designed to address the growing AI skills gap and empower local workforces with the digital economy. According to Microsoft's Work Trends Index, three out of four Australian business leaders now consider AI proficiency a critical requirement, emphasising the pressing need for this initiative.
The Economic Times GMM Pfaudler names Alexander Poempner as Group CFO
GMM Pfaudler Limited has selected Alexander Poempner as its new Group CFO, bringing over 25 years of global finance and M&A experience, succeeding Manish Poddar, who will step down on February 7, 2025.
The Economic Times Coromandel Engineering Company appoints Babu Razack as CFO
Razack will take over as the CFO of Coromandel Engineering Company Limited, following the resignation of Ravichandran Perumal.
The Economic Times Online gaming sector is poised to boost India's USD 1 trillion digital economy goal: Report
The country is on track to achieve a USD 300-billion electronics industry and a USD 1-trillion digital economy by 2025-26, potentially contributing 18-23 per cent to the national GDP, according to a report by the Observer Research Foundation (ORF).
The Economic Times India to be fastest-growing major economy in 2025, regionally and globally: Mastercard
Driven by a robust middle class and sustained investment, India is projected to be the fastest-growing major economy in 2025 both regionally and globally, Mastercard Economics Institute (MEI) said in its annual economic outlook report on Monday.