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Foxconn's Bharat FIH gets Sebi nod to float Rs 5,000 Crore IPO

Bharat FIH, a subsidiary of FIH Mobiles and a Foxconn Technology Group company, has received capital markets regulator Sebi's go ahead to raise Rs 5,000 crore through an Initial Public Offering (IPO). The initial share-sale of Bharat FIH comprises fresh issue of shares worth Rs 2,502 crore and an offer for sale of up to Rs 2,502 crore by promoter group and Foxconn unit Wonderful Stars, according to the Draft Red Herring Prospectus (DRHP). Bharat FIH makes devices for Xiaomi and Nokia. The company, which filed its preliminary IPO papers with Sebi in December 2021, obtained its observations on June 10, an update with the markets regulator showed on Monday.

Zydus Lifesciences' Rs 750 cr-share buyback open between June 23-July 6

Zydus Lifesciences on Monday said its Rs 750 crore-share buyback offer will commence on June 23 and close on July 6. The drug firm, earlier known as Cadila Healthcare, has fixed July 15, 2022 as the last date for the settlement of bids on stock exchanges which may even happen early, as per a regulatory filing. The company's board has approved the proposal to buyback a little over 1.15 crore shares, representing up to 1.13 per cent of the total paid-up equity share capital of the company, for an aggregate amount of up to Rs 750 crore.

HSBC India to lend $250 million to high-growth, tech-led startups

Foreign lender HSBC India on Monday announced that it will lend USD 250 million to startups in the country. The bank did not specify the timeframe for disbursal of the amount The lending will be done to high-growth, tech-led startups in the third largest startup ecosystem in the world, the lender said in a statement.

Embassy REIT distributes over Rs 5,800 cr to unitholders since listing

Embassy Office Parks REIT on Monday said it has distributed over Rs 5,800 crore to unitholders since its listing in April 2019. In a regulatory filing, the company informed that it has successfully completed three years of listing, with strong business performance. Embassy REIT has delivered over Rs 5,800 crore distributions to its growing unitholder base. Jitu Virwani, Chairman of the Board of Manager of Embassy REIT, said, "Since our IPO in 2019, Embassy REIT has consistently delivered over the last three years, despite two years in the shadow of the global pandemic".

Adani's $10.5-bn Holcim acquisition doubles

India Inc's deal value in May' India Inc's deal value more than doubled to USD 19.1 billion across 190 transactions in May 2022, mainly helped by the USD 10.5-billion acquisition of global cement major Holcim by Adani Group, a report said on Monday. The overall deal activity -- which includes mergers and acquisitions, private equity landscape and public market activity like IPOs -- stood at USD 7.965 billion a year ago, the report by consultancy firm Grant Thornton Bharat said.

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