Time right for next tech giants to be born in India: Hero MotoCorp CEO
Hero MotoCorp’s Chairman and CEO Pawan Munjal has said that time is now right to show to the world that the next set of technology giants will be born in India. He added that the largest digitally-connected open marketplace is waiting to be leveraged and monetised. “It’s now time that India…grabs its rightful place in the global economy,” he said.
Tata Steel to invest ₹8,000 crore in capex on India operations in FY22: CEO
Tata Steel CEO and MD TV Narendran said the firm will invest ₹8,000 crore in capital expenditure on its India operations during 2021-22. The amount will be spent mainly towards completion of the expansion of the Kalinganagar plant, expansion of mining operations and recycling business, he added. “We’ve to set up these facilities where more scrap is available,” Narendran said.
Airtel’s board gives nod to raise ₹21,000 crore via rights issue
Bharti Airtel has announced that its board approved raising up to ₹21,000 crore through rights issue. The rights issue is priced at ₹535 per equity share of face value of ₹5 each. According to terms of payment of the rights issue, subscribers need to pay 25% on the application and balance in two more additional calls within 36 months.
MapmyIndia targets ₹1,286 cr IPO with ₹6,000 cr valuation
New Delhi-based digital mapping product platform MapmyIndia will file initial public offering documents in the next couple of days. It is targeting IPO of around ₹1,286 crore with a valuation of about ₹6,000 crore. Founded in 1995, MapmyIndia powers Apple Maps and Amazon’s Alexa in India and also counts McDonald’s among its clients.
2 IPOs to open on September 1, seek to raise ₹2,465 crore
Two companies, Vijaya Diagnostic Centre and Ami Organics, are launching IPOs on September 1 to raise ₹2,465 crore cumulatively. Vijaya Diagnostic Centre has fixed a price band of ₹522-531 per share for its ₹1,895 crore IPO. Meanwhile, Ami Organics has fixed a price band of ₹603-610 per share for its IPO, which is expected to fetch ₹569.63 crore.