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India’s largest retail broker Zerodha will not join the likes of Cred, Groww and other promising startups who recently raised funds from investors. Zerodha’s founder Nithin Kamath took to Twitter to explain why his company is not looking to rope in investors even though funds have been lining up to invest. “Right now, is probably the stupidest time for fintech firms like Zerodha to be raising money. It is quite crazy the number of folks Read More

Reserve Bank of India (RBI) on Wednesday said it is putting in place a secondary market government securities acquisition programme or G-SAP 1.0 for this financial year to enable an orderly evolution of the yield curve. According to the central bank, the endeavour through the programme will be to ensure congenial financial conditions for the recovery to gain traction. Under the programme, which will be for the current financial year, RBI “will commit upfront to Read More

Indian state refiners will buy 36% less oil from Saudi Arabia in May than normal, three sources said, in a sign of escalating tensions with Riyadh even after the Kingdom supported the idea of boosting output from OPEC and allied producers last week. Energy relations between India, the world’s third-biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked. New Delhi blames cuts by the Saudis and other oil producers Read More

Barbeque Nation’s much-awaited IPO could help its rival Domino’s parent firm Jubilant FoodWorks double its money in nearly two months time. Jubilant FoodWorks, the owner of Domino’s Pizza in India, had invested Rs 92 crore in Barbeque Nation, picking up shares for Rs 252 apiece in January this year. Now, with the IPO price band fixed at Rs 498-500 apiece, Jubilant’s investment could multiply. Barbeque Nation’s Rs 453-crore public issue opens for subscription tomorrow. Jubilant Read More

Anupam Rasayan India is likely to finalise the basis of allotment of the IPO on Friday, March 19, 2021. The Rs 760-crore initial public offering was subscribed 44 times. The issue was sold in the price band of Rs Rs 553-555 per share. According to the Anupam Rasayan India’s prospectus, initiation of refunds or unblocking of funds from ASBA accounts will take place on March 22, and the credit of equity shares to the depository Read More