Kuku Technologies Ltd, which operates vernacular audio platform Kuku FM and short-video streaming app Kuku TV, has filed confidential draft papers with Sebi for an IPO to raise up to ₹3,000 crore, according to sources. The company is planning to raise between ₹2,500-₹3,500 crore and is targeting a valuation of up to ₹15,000 crore (about…
The Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved Uttar Pradesh Power Corporation Ltd’s (UPPCL) proposal to procure 511 MW of hydropower on a long-term basis from the Khorlochhu Hydropower Project in Bhutan through Tata Power Trading Company Ltd (TPTCL). The approval pertains to power procurement from the 600 MW Khorlochhu Hydro Power Project being…
Shares of PhysicsWallah Ltd. rose more than 18% on Thursday, June 4, after the edtech company announced a change to its student financing strategy, opting to partner with regulated non-banking financial companies (NBFCs) instead of lending directly through its wholly owned subsidiary. In an exchange filing, the company said it has tied up with multiple…
Shares of electric mobility companies JBM Auto Ltd. and Olectra Greentech Ltd. gained as much as 6% on Thursday, June 4, after the Union Cabinet approved a major vehicle replacement programme aimed at accelerating the adoption of cleaner transport in the Delhi-NCR region. The government has cleared a ₹9,585 crore initiative to phase out older…
Rohit Srivastava, Founder of Indiacharts and Strike Money, believes Indian markets are nearing a critical support zone and may be in the final phase of the current pullback. He says the broader market remains resilient despite weakness in benchmark indices, which supports the case for a rebound. Srivastava remains positive on metals and pharma stocks,…
The Japanese government may have used foreign assets, such as US Treasuries, to finance its record currency market intervention during the last month, as evidenced by the significant decline in Japan’s foreign securities holdings in May. According to reserve data issued by the Finance Ministry on Friday, foreign securities holdings decreased by $75.6 billion since…
Asian shares fell with US equity index futures declining as well as enthusiasm for AI trade cooled post driving the markets to all time highs this year. The MSCI’s regional index declined 1.3%, with South Korea falling 5.7%. Futures contracts for the Nasdaq 100 Index dropped over 1%, indicating a third day of losses for…
Shares of Ola Electric Mobility Ltd. are in focus on Friday, June 5, after the electric vehicle maker said it raised ₹780 crore via its qualified institutional placement (QIP), which was oversubscribed compared to the number of shares on offer. The company, on Thursday said, its board approved the allotment of 21.75 crore equity shares…
S&P Global said on Thursday it was not changing the requirements for entry into its major indices, dealing a setback to Elon Musk’s SpaceX by effectively ruling out a swift entry for the world’s biggest-ever IPO into the benchmark S&P 500 index. Musk has rewritten the IPO playbook for SpaceX in many ways, from planning…
SpaceX told banks in its $75 billion initial public offering that it is set on the $135-a-share price that the firm disclosed on Wednesday in its amended IPO filing, sources told Reuters. The company’s decision is the latest sign that Elon Musk is intent on holding the largest ever initial offering according to his preferences,…
