New Delhi: Reliance Industries (RIL) on Thursday rolled back the mandatory share swap for Reliance Retail (RRL), according to market sources. Instead, the company has made the share swap optional for retail investors. However, those who participate in the swap will have to surrender the entire holding. “No partial swap will be entertained by the company management,” sources in the unlisted market told ETMarkets.com. When contacted, an RIL spokesperson said he would require time to confirm the report. He didn’t deny the same. Reliance Retail is an unlisted subsidiary of Reliance Retail Ventures and an indirect subsidiary of the petroleum-to-telecom behemoth RIL. In December, Reliance Retail said every ‘specified shareholder’ shall receive one RIL equity share for every four equity shares held as on the record date (share exchange ratio). On December 25, RIL presented the detailed scheme, according to which minority shareholders of RRL had to surrender … [Read more...] about RIL rolls back compulsory share swap of Reliance Retail; unlisted market cheers
Ggn retail deliveries
As Australia Day falls on Sunday this year the public holiday will fall on Monday the 27th, following the same rules as last year when Australia Day fell on the Saturday and made Monday the public holiday. … [Read more...] about The retailers open for business this Australia Day Long Weekend.
New Delhi: Retail investors subscribed to Rs 4,922 crore of the fifth tranche of further fund offer (FFO) of the existing Central Public Sector Enterprises (CPSE) Exchange Traded Fund (ETF), said Department of Investment and Public Asset Management (DIPAM) secretary Atanu Chakraborty. “CPSE ETF FFO5 clocked highest-ever retail participation in any ETF offer of Dipam,” he said in a tweet, adding that the offer received 3.18 lakh applications. Last week, the government had said that the offer was oversubscribed by five times and the government received subscription amount of more than Rs 40,000 crore as against the base issue size of Rs 8,000 crore. “Government exercises green shoe option, taking offer size to Rs 11,500 crore,” Chakraborty had said. The government has set a target of Rs 1.05 lakh crore from disinvestment proceeds in the current financial year. … [Read more...] about CPSE ETF FFO5 clocks highest-ever retail participation
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iQOO - a new smartphone brand from China - is set to enter the Indian market with the launch of its 5G phone next month, and will compete in the burgeoning premium category. iQOO is a sub-brand of Vivo in China but will operate in India as a separate entity. With this, the BBK Group now has five brands -- OnePlus, Vivo, OPPO, Realme and iQOO -- in India. "We have very bold plans for India. Our first device, which will be launched next month, will feature Qualcomm Snapdragon 865 chipset, is 5G-enabled and has a new battery technology. The device will be best-in-class premium segment and will be competitively priced," iQOO India Director-Marketing Gagan Arora told . He added that the company aims to sell about one million devices over the next one year. "We see extreme potential in the premium segment smartphone market in India and have deep-dived to understand the gap that the consumers face in this segment. We understand very closely that there is an increasing demand for … [Read more...] about Vivo’s sub brand, iQOO set to enter India with 5G smartphone