While the government plans to reduce its stakeholding in IRFC to 86% from 100% from the IPO, the promoter holding in Indigo Paints of 60.05% will reduce to 54%, post the issue

As per company's DHRP, its main objective for the issue is to meet the upcoming capital expenditure requirement for manufacturing facility expansion at Pudukkottai, Tamil Nadu, to purchase tinting machines and gyroshakers and repay all or certain borrowings

Indigo Paints, which filed its preliminary IPO papers with Sebi in November, obtained its observation on December 31, an update with the capital markets watchdog showed on Monday

Jet Airways will need $1 billion initial working capital, followed by $3 billion over the course of 5-7 years before the airline can break even; it needs to be seen whether the bidders can bankroll these expenses

India Stock Market Highlights Today: Axis Bank, followed by Tata Steel, ICICI Bank, HDFC, PowerGrid, Tech Mahindra and SBI were among the top gainers. On the other hand, Titan, Sun Pharma, Bharti Airtel and Reliance Industries were among the laggards

It's not surprising then that there has been a hue and cry ever since HDFC announced that People's Bank of China raised its 0.8 pc stake to over 1 pc, requiring a declaration to the stock exchanges

Restaurateurs fear that business will not bounce back in a hurry and people will socialize less in crowded restaurants post lockdown

InterGlobe Aviation, the parent company of IndiGo, had called an EGM on Wednesday to vote on a proposal to remove articles related to transfer and acquisition of the company's shares

Share Market Update: M&M Financial, CG Power and Solutions, Tata Coffee, Cummins among others will be releasing their Q3 results today

Share Market Update: Domestic indices followed global markets that erased early gains on Friday in wake of sharp spike in crude prices after a US strike eliminated a top Iranian commander.

InterGlobe Aviation informed stock exchanges on Tuesday that Rahul Bhatia and his group InterGlobe Enterprises have submitted a request for arbitration on 1 October to the London Court of International Arbitration

Catch top stories today from the world of business and economics with BusinessToday.In end of day (EOD) report

IndiGo tells stock exchanges that Gangwal's August-30 letter seeks directions to IGE Group regarding amendments in Articles of Association, related-party transactions, non-independence of current chairman M Damodaram, among others

IndiGo CEO Ronojoy Dutta informed employees in an email on Monday that the contentious issues between the co-promoters Rahul Bhatia and Rakesh Gangwal have been settled in last week's board meeting post the AGM

The statement has come as a surprise because Gangwal agreeing to a 10-member board (and not seven as he has proposed earlier) still leaves his previous issue unresolved

Company's co-promoters Rakesh Gangwal and Rahul Bhatia have been engaged in a bitter tussle over the issues including corporate governance, questionable related party transactions and composition of the company's board

The ministry's communication comes less than 10 days after Gangwal flagged concerns about corporate governance lapses at InterGlobe Aviation, especially certain related party transactions entered into by co-founder Rahul Bhatia's InterGlobe Enterprises (IGE) Group

A new report by Institutional Investor Advisory Firm (IiAS) claims that Rakesh Gangwal and Rahul Bhatia attended less than 40 per cent of the board meetings in FY16 and FY17, before improving their track record to 63 per cent in FY18. The proxy advisory firm has also made a case for expanding IndiGo's board.

Rakesh Gangwal had flagged questionable related-party transactions and corporate governance issues at InterGlobe Aviation and raised concerns over Bhatia's unusual controlling rights over IndiGo

Rahul Bhatia said that there was not any abuse of rights and Gangwal's proposal for convening an Extraordinary General Meeting (EGM) was rejected on the basis of a legal opinion obtained by IndiGo board