Minority shareholders of ICICI Securities led by Bengaluru-based investment manager Manu Rishi Guptha have filed a class action suit with National Company Law Tribunal (NCLT) against ICICI Bank‘s bid to delist its broking arm from the Indian bourses. Last month, nearly 72% shareholders approved the scheme of arrangement for the merger of ICICI Securities with … Read more
MUMBAI – “Life is what happens when you’re busy making other plans,” a line by musical superstar John Lennon, is something Sonia Dasgupta easily relates to while thinking about her aspirations in the early days. Dasgupta, who has made it big in the world of investment banking during her over two-decade stint in JM Financial, … Read more
Hong Kong/London CNN — UBS is bringing back its former chief executive, Sergio Ermotti, to manage the hugely complex and risky task of completing the bank’s emergency takeover of rival Credit Suisse (CS). The surprise appointment, announced Wednesday, highlights the scale of the challenge facing the Swiss lender as it executes a first-of-its-kind merger of … Read more
George Soros, who is in the eye of the storm over his remarks against Prime Minister Narendra Modi on the Adani issue, is an Hungarian-born American financier, philanthropist, and activist whose success as an investor made him one of the wealthiest men in the world. He is also known as a powerful and influential supporter … Read more
Meltdown in shares of Dalal Street debutants and volatility triggered by geopolitical tensions soured the sentiments for the primary markets, with fund mobilisation through IPOs halving to nearly Rs 57,000 crore in 2022 and the New Year is expected to be even quieter. The overall collection would have been much lower had it not been … Read more
Concord Enviro Systems, an environmental engineering solutions firm, has received Sebi‘s go- ahead to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth ₹175 crore and an offer-for-sale (OFS) of 35 million shares by promoters and an investor, according to the draft red herring prospectus (DRHP). … Read more
JPMorgan Chase & Co reported a 14% fall in fourth-quarter earnings on Friday but sailed past analysts’ estimates, helped by a stellar performance at its investment banking unit that offset a slowdown in its trading arm. The country’s largest lender, whose fortunes are often seen as a barometer of the health of the U.S. economy, … Read more
SINGAPORE: Nomura, Asia’s global investment bank, on Thursday said it has appointed Indian-origin Ravi Raju as Head of International Wealth Management. In this newly created role, Raju will be responsible for expanding Nomura’s wealth management business in Asia ex-Japan as the firm taps into the growing ranks of wealthy individuals in the region, the firm … Read more