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Moneycontrol Selects: Top stories this evening

Our specially curated package of the most interesting articles to help you stay at the top of your game

September 19, 2022 / 06:46 PM IST
(Representative Image)

(Representative Image)

Here are the top stories this evening:

Sebi puts Fairfax Group-backed Go Digit's IPO in 'abeyance'

Going by the draft papers, the company's proposed initial public offering (IPO) comprised fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale of 10.94 crore equity shares by a promoter and existing shareholders. Proceeds from the fresh issuance were to be utilised for the augmentation of the company's capital base and maintenance of solvency levels and general corporate purposes.

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India spending forex reserves at quicker pace than during taper tantrum

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The Reserve Bank of India has sold a net of $38.8 billion from its forex reserves between January and July this year, data released on Friday showed. A net of $19 billion was sold in July alone, the most recent data available, and intervention remained heavy in August when the rupee fell below 80 against the dollar, traders said.

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London, Dubai, NY: How to buy a property abroad

Though the trend of Indians buying properties abroad is not new, in the recent past, there has been a significant rise in the number. The trend can also be substantiated looking at the outward remittance from India to buy immoveable assets abroad.

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Crompton Greaves approves sale of 6% stake in subsidiary Butterfly Gandhimathi Appliances via OFS

The company's executive committee of directors, which held a meeting earlier in the day, gave its nod for the sale of around 10.72 lakh equity shares in Butterfly Gandhimathi, at a face value of Rs 10 each.

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Fintechs confident of meeting RBI deadline on existing digital loans but many face challenges

The fintech industry is confident of meeting the Reserve Bank of India’s (RBI) November 30 deadline of implementing new digital lending norms on existing loans, but many firms face challenges in changing their existing business models and processes.

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Corporate Crossings | Can Fin Homes MD & CEO Girish Kousgi resigns

The date of cessation was not disclosed, as the filing suggested that it would be based on the "notice period". "Kousgi will continue to function as the managing director & CEO and discharge duties till the date of his relieving," the company added.

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Volkswagen sets Porsche IPO at up to $9.39 billion

The German automaker said it aims for a listing on the Frankfurt stock exchange on Sept. 29 after it places up to 25 percent of non-voting preferred shares in Porsche AG, maker of the 911 sports car and Cayenne SUV, with investors.

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