NSE IPO subscribed 43% on day 1

The part reserved for employees was almost fully subscribed MUMBAI: The Rs 22,562 crore IPO for NSE, the largest stock exchange in India in terms of turnover and profits, received bids for nearly 3.8 crore shares against about 8.9 crore shares on offer in the post-anchor bidding process. This translates to an overall subscription of…

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Tata group shares rally on hopes of listing

Minority shareholders in the company’s various businesses will be watching as an IPO could affect Tata’s ability to shift capital between its cash-rich established businesses and newer, less profitable ventures. MUMBAI: With the possibility of Tata Sons’ listing gaining traction, stocks of several Tata companies that hold shares of the group’s holding company rallied on…

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Tatas, a house brutually divided: Tata Sons board gives Chandrasekaran 5 more years; move illegal, say Trusts

The vote exposed differences among Trusts’ own nominee directors. MUMBAI: In an unprecedented break with its principal shareholders, Tata Sons’ board Thursday voted to reappoint N Chandrasekaran as executive chairman for another five years, defying Tata Trusts, which called the resolution “a legal nullity”, exposing a split over leadership and strategy at India’s largest conglomerate.A…

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Chandra needs majority support from Tata Trusts’ nominees: Ex-CJI

Legal opinion centres on the interpretation of Tata Sons’ Articles of Association and interaction between special voting rights enjoyed by the Trusts’ nominee directors and chairman’s casting vote MUMBAI: Former chief justice of India D Y Chandrachud has opined that Tata Sons cannot validly reappoint N Chandrasekaran as executive chairman without the majority support of…

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Tata group dispute: Panel sought 5-year term for Chandrasekaran early September

The timeline outlined by Tata Sons shows that the move to retain Chandrasekaran predated RBI’s Sept 11 directive MUMBAI: About three weeks after N Chandrasekaran announced that he would not seek reappointment, Tata Sons‘ nomination and remuneration committee (NRC) unanimously urged him to reconsider and recommended a fresh five-year term for him.The timeline outlined by…

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Judge Amogh Kaloti: The man who holds key to Tata dispute

Judge Amogh Shyamkant Kaloti has also worked as Joint Secretary, Secretary and SLA in Law and Judiciary Department, Government of Maharashtra MUMBAI: Till recently, Amogh Kaloti, who works under the law and judiciary department headed by chief minister Devendra Fadnavis, was barely known outside Maharashtra’s legal circles. A low-profile district judge who was appointed Maharashtra’s…

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UPI fee: Government, payment gateways discuss ways to stop merchants passing burden to consumers

The Centre asserted that it does not expect a decline in UPI transactions or increased use of cash NEW DELHI: Govt is in talks with payment aggregators and platforms, which onboard merchants, to ensure that the merchant discount rate (MDR) on transactions is not passed onto consumers, finance ministry officials told reporters Thursday.The Centre asserted…

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