Banks significantly increased lending for IPO investments last fiscal year. State Bank of India’s IPO financing tripled. HDFC Bank leads with the largest loan book, followed by Bank of India. Sixteen banks provided substantial loans for IPO financing. The Reserve…
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Credila, formerly HDFC Credila, plans to secure up to $600 million in foreign loans post-IPO. Discussions involve DBS, MUFG, and SMBC. The funds will be raised via external commercial borrowing. The loan is marketed at 135-150 bps over SOFR. Credila’s…
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The Indian government has exempted import duty on cotton from August 19 to September 30 to ease supply shortages and support the textile sector. Industry leaders had advocated for the removal of the 11% duty, both to lower input costs…
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Industry executives told ET that they would soon be writing to the government seeking a lower GST rate for telecom services. They contend that the telecom industry continues to be highly taxed and around 30% of its earnings are paid…
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Indian stock market anticipates GST simplification, potentially benefiting autos, cement, consumer goods, retail, hotels, and financials. Auto sector, especially two-wheelers, could see increased demand due to lower tax rates and potential RBI rate cuts. Financials may indirectly gain from credit…
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The Income Tax Department is investigating US investor Jane Street. It has summoned EY, Jane’s auditor in India. The department seeks details about Jane’s Indian operations. They want to know who controlled the trading and where instructions originated. The tax…
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