Sep 12, 2016 - How Yes Bank's billion-dollar QIP ended in failure

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Sree Vijaykumar From the Editor's Desk Is economic inequality a problem to be solved? The difference between CEO salaries and median wages has been a topic of recent debate. Rising economic inequality is also increasingly an election issue around the world. Perhaps a more nuanced look at the problem is required. While we certainly need less rent-seeking (monopolistic) behaviour and we don't need private sector losses being financed by taxpayer money, we certainly need innovators to be rewarded by the market for their initiative and efforts; especially innovation that moves humanity forward. We also need to give every citizen a fair shot to get out of poverty and pursue their dreams, i.e. create a level playing field. This means more investment in public goods like education and infrastructure, and less corruption. Perhaps, the problem needs to be rephrased to that of providing equal opportunity, rather than ending economic inequality. Advertisers of the day HP Business PC BuyBack: Save Upto INR 10,000 - HP Business PC Buy Back Offer- Call - 1800-108-4745 (T&C) Aditya Birla Finance: Easy, quick, unsecured business loans upto Rs. 10Lakhs   Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). How Yes Bank’s billion-dollar QIP ended in failure Capital International, among the worlds biggest money managers, is said to have pulled out of a large $200-250 million order at the last minute. Paytm starts Aadhaar-based KYC process Paytm says the Aadhaar-based KYC is entirely paperless, instant and secure as a customer’s identity is verified instantly by matching the biometric data Actis Capital eyes $280 million Symbiotec Pharmalab exit The stake sale deal would value Symbiotec Pharmalab at $400 million, with London-based Actis Capital, which owns 70%, standing to make $280 million Sebi may give FPIs bourse membership Move may be a blow to local brokerages; firms that want to grant special rights to PE investors may also be asked to seek minority shareholder approval KIMS Hospitals picks banks for Rs600 crore IPO Axis Capital, ICICI Securities Ltd, Edelweiss, to manage KIMS Hospitals IPO, which will provide an exit to investor ICICI Venture HPCL wants ONGC to cut stake in MRPL HPCL wants ONGC to divest a part of its stake in the refinery so that it can meet minimum public shareholding norms Will India turn old before it becomes rich? To become a middle-income country, India, with a population of 1.2 billion, will have to achieve a per capita income of around $6,000-7,000 from the current $1,500 Milking RBI out of its autonomy, rupee by rupee The Economic Survey proposed that the central bank’s coffers should be used to recapitalize ailing nationalized banks India Value Fund Advisors to invest $40 million in SeedWorks Rice is the company’s primary business in which it has domestic as well as export operations, said Srikrishna Dwaram, partner, IVFA Hindustan Powerprojects in talks to sell solar assets Money may be used for expansion and also to provide a partial exit to Blackstone Foreign portfolio investors infuse $1 billion in capital markets in September So far this year, FPIs have invested Rs 44,028 crore in equities while withdrawing Rs 3,730 crore from the debt market. This resulted in a net flow of Rs 40,297 crore. Three IPOs to hit markets in Sept to raise Rs 7,000 crore The public issue of ICICI Prudential Life is expected to garner Rs 6,057 crore, L&T Technology (Rs 894 crore) and GNA Axles (Rs 130 crore). Mexico’s Cinepolis to invest Rs800 crore in India in next six years Cinepolis, which currently runs 269 screens in India, is looking to have 600 screens and invest Rs800 crore Grabhouse in talks with Oyo, NestAway for buyout Grabhouse is looking for a buyer as the company is struggling to scale up its business because of competition from the likes of NestAway and NoBroker Foreign investors feel tremors of GAAR What has surprised these investors and their legal advisors is the aggressive stance of the IT department even though the General Anti-Avoidance Rule. Did you know: To buy insurance, you must have insurable risk A risk is insurable if it’s out of your control, financially measurable and random in nature Go for equity-linked savings schemes for tax benefits from mutual funds Remember, only investments made in equity-linked savings schemes are really locked—they cannot be redeemed until the lock-in period is over Finance Ministry revises criteria for recapitalisation of PSU banks The government in July had announced the first round of capital infusion of Rs 22,915 crore for 13 banks FPIs infuse Rs 6,800 crore in capital markets in September Experts attributed the latest flurry in inflow to factors including good and widespread monsoon, better corporate earnings, sound progress on rollout progress of GST. New lending norms may nudge banks towards retail loans: SBI The Reserve Bank had last month come out with draft guidelines on credit to large corporate borrowers asking banks to make additional provisions if the loan amount crosses the prescribed limit. HDFC Ergo eyes 45 pc sales growth post-merger Mumbai, Sep 11 () HDFC Ergo General Insurance, which has just completed acquisition of L&T General Insurance to become the third largest private sector non-life insurer, has set a target of clocking 45 per cent business growth of the combined entity this year. Poshtick raises $450,000 from two HNIs Poshtick will use the funds for product development, team expansion and establishing a supply chain ICICI Bank to pick up 10% stake in Resurgent Power Other investors in the platform are Caisse de dépôt et placement du Québec of Canada, Kuwait Investment Authority and State General Reserve Fund of Oman. Indian banking system is far more robust, insulated than Western counterparts: President Mukherjee The Indian banking system and our economy are doing reasonably well, compared to their Western counterparts. Non-performing assets (NPAs) are a concern, but over all the system is robust and far more insulated to shocks, said the President of India - Pranab Mukherjee, in his key note address to mark the centenary celebrations of Karur Vysya Bank in Chennai. Huge NPA provisioning by banks limits credit growth: President Praises Raghuram Rajan on right measures Raghuram Rajan took many steps to put banking system in right direction: President Rajan, who completed his three-year term as Governor of the RBI on September 4, had forced banks to recognize the true state of their bad loans. Path lab chain Metropolis plans acquisitions in India, abroad The Rs 650 cr firm, in which PE nvestor Carlyle holds 30%, will opt for an IPO or Private equity to finance acquisition Why Indian tech startups can look forward to a rebound by angel investors The apparent decline can be explained as a reflection of decreasing VC confidence in the Indian startup ecosystem, due to the prevalence of inefficient unit economics and unsustainable business models. Future Lifestyle Fashions has raced past Shoppers Stop in retail sales Future Lifestyle Fashions (FLF), for the first time ever, has surpassed the countrys largest department chain Shoppers Stop in retail sales. Government to fix prices of essential items, even packed ones Once the central or state government fixes and notifies the retail sale price, retailers cannot sell essential commodities such as pulses, sugar, milk and edible oils at higher prices in the guise of selling such items in packets. 500 stores of Domino's outlets to turn all-vegetarian during nine-day Navratri festive period In the past, too, Dominos has served vegetarian food during this festive period, but only at select stores and not for delivery orders. Amazon outsells Flipkart for second straight month Flipkart registers gross sales of around Rs2,100 crore in August, slightly lower than Amazon Esselworld to take smaller format to malls Pan India Paryatan Pvt Ltd (PIPPL), the company which owns amusement park EsselWorld is M&B Footwear plans to raise Rs 100 cr to expand biz in India M&B Footwear, which markets brand Lee Cooper footwear in India, is looking to raise up to Rs 100 crore to fund its expansion plans which includes opening standalone outlets and bringing in new foreign brands in the country. International brands entering India opt for both online and physical stores in 'omni' strategy Last month, after selling exclusively on Myntra, Dutch apparel brand Scotch & Soda struck a deal with Reliance Brands to open stores in India. It is not alone. Other brands like Dorothy Perkins, TopShop, etc, also tested the e-commerce space when they entered India. The retail-friendly Indian: A shop for every 15 families Indians continue to show their entrepreneurial spirit - by opening more and more shops. With over 1.6 crore retail shops in the country, about one for every 15 families, this sector of work outguns every other. Jugnoo expanding its logistics business The Chandigarh-based company is putting on hold further expansion in auto aggregation in order to stop burning cash Walmart stops selling Welspun India's Egyptian cotton products - US-based retail chain Bed Bath & Beyond and JCPenny are also conducting third party audit of items sourced from Welspun India, following lapses in supplies by the Gujarat-based firm to the US-based Target. 4G battles to help e-commerce: Bahl Mumbai: Online marketplace Snapdeal is making extensive efforts to regain lost ground with the launch of a brand new image and positioning as it lags Amazon and Flipkart in the Indian e-commerce sweepstakes. Cheaper internet data may lead India to digital farming NEW DELHI: Prospect of people getting cheaper internet data in India might have taken political overtone when politicians resort to 'atta' (wheat flour) verses 'data' debate in the wake of an advertisement featuring Prime Minister Narendra Modi, but the availability of cheap and fast data has potential to increase farm productivity and income of farmers. Telecom Minister Manoj Sinha rejects criticism of PM Narendra Modi's image in Jio ads He was responding to the criticism by political parties, particularly the Congress and the AAP, over the Prime Minister featuring in a full-page newspaper advertisement issued by Reliance Jio. Essar phone tap: SIT questions complainant Complainant Suren Uppall said he was questioned by a team of five officials for over two hours and he agreed to provide all evidences he has with him in support of his allegations. Oncologist debunks link between mobile towers and cancer Oncologist debunks link between mobile towers and cancer Mukesh Ambani's Jio gamble: Telcos' headache, consumers' benefit Internet is changing the way India consumes entertainment. India's mobile user base grows to 103.5 crore in June: TRAI The country's mobile user base grew marginally to 1,035.12 million (103.5 crore) at the end of June this year, with state-run telecom firm BSNL regain.. Airtel, Vodafone want higher fee to handle Jio's call 'tsunami' The Telecom Regulatory Authority of India (TRAI) has asked service providers and new entrant Reliance Jio to settle their dispute related to call drops amongst themselves. Call drops vex consumers, complaints mount HYDERABAD: Tired of knocking on the doors of cellular companies in vain, disgruntled mobile phone users in the city have now turned to consumer forums, in the hope of fixing the issue of incessant call drops. Snapdeal pumps in Rs 200 crore for brand overhaul Eyeing an "aspirational India", Snapdeal has invested Rs 200 crore in rebranding activities and also unveiled a new logo as the e-commerce major focuses on wooing the next 100 million potential online shoppers. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India