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Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn Online food-delivery platform Swiggy on Monday announced the second milestone in its committed two-year employee stock ownership plans (ESOP) liquidity programme, in which its employees will have the option to receive liquidity totalling up to $50 million against their ESOPs. This event will also see eligible employees from Dineout which Swiggy acquired last year participate. Swiggy, which announced turning EBITDA positive in its food delivery business as of March successfully integrate...
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn
Source: IANS
24/07/2023 3:19:55 PM
Indian REIT Nexus Malls rises 4% in trading debut, valued at $1.9 billion India's Nexus Select Trust rose nearly 4% in their trading debut on Friday, giving the Blackstone Inc-backed retail REIT a valuation of 157.56 billion rupees ($1.93 billion). The company, better known as Nexus Malls, saw its units rise to 104 rupees, compared to the 100-rupees-a-unit price of its initial public offering (IPO), in which it raised 32 billion rupees. The IPO, the first-ever by an Indian retail REIT, comes as public floats show signs of recovery after volatile markets a...
Indian REIT Nexus Malls rises 4% in trading debut, valued at $1.9 billion
Indian REIT Nexus Malls rises 4% in trading debut, valued at $1.9 billion
Source: Reuters
19/05/2023 11:13:21 AM
Hinduja group offers to infuse Rs 300 crore in Reliance General Insurance The Hinduja group has made an offer to invest an additional Rs 300 crore in Reliance General Insurance. Reliance General Insurance, a unit of Reliance Capital, needs cash infusion to maintain solvency levels. IndusInd International Holdings Ltd (IIHL), which is owned by Hinduja, made the highest bid of Rs 9,650 crore for Reliance Capital in a second auction on Wednesday. Reliance General Insurance had sought Rs 600 crore cash infusion from lenders in December last year to meet solven...
Hinduja group offers to infuse Rs 300 crore in Reliance General Insurance
Hinduja group offers to infuse Rs 300 crore in Reliance General Insurance
Source: IANS
27/04/2023 5:43:33 PM
Insurers hope for tax concessions to underwrite industry's growth With 2024 being the Lok Sabha election year, Indian insurers are expecting more tax concessions for their policyholders from Finance Minister Nirmala Sitharaman, so that industry can also prosper. Scrapping or slashing of Goods and Services Tax (GST) on insurance premiums, making pension/annuity proceeds tax-free, and creating a separate category for tax deduction for premium paid are some of the budget wishlist of Indian insurers. The industry players are also expecting the Indian gove...
Insurers hope for tax concessions to underwrite industry's growth
Insurers hope for tax concessions to underwrite industry's growth
Source: IANS
22/01/2023 12:20:18 PM
COVID-19 vaccinated customers can avail 2.5% discount on premiums with Reliance Health Infinity Policy In move to promote preventive vaccination, Reliance General Insurance Company Ltd., is offering 2.5 per cent discount* on insurance premiums to customers who have taken the COVID-19 vaccines or Booster shot and other vaccines like Human Papillomavirus vaccine or Pneumococcal vaccine. Vaccinated customers buying new or renewing their existing Reliance Health Infinity Policy can avail this offer. Reliance General Insurance is one of the first general insurance companies to introduce discount on...
COVID-19 vaccinated customers can avail 2.5% discount on premiums with Reliance Health Infinity Policy
COVID-19 vaccinated customers can avail 2.5% discount on premiums with Reliance Health Infinity Policy
Source: PR Agency
30/12/2022 11:56:55 AM
Multicloud strategy will dominate Indian enterprises in 2023 The year 2022 was unquestionably a year of technological dynamism, particularly in the cloud space, as new cloud computing models came to the fore. With businesses increasing their investment in cloud, they continue to prioritise flexibility, agility, scalability, and cost-efficiency. One observation that stands out to me, based on several discussions I've had with customers over the past year, their requirement is simple: a cloud that does not limit their operations and one which allo...
Multicloud strategy will dominate Indian enterprises in 2023
Multicloud strategy will dominate Indian enterprises in 2023
Source: IANS
25/12/2022 4:43:37 PM
Newly Launched Reliance Health Infinity Policy Offers High Sum Insured up to ?5 Crores, Medical Equipment, Planned Global Treatments, Maternity Cover and many Limitless Benefits Mumbai: Reliance General Insurance Company Ltd. (RGICL), one of India’s leading Private General Insurance Companies, launches first of its kind premium health insurance product – Reliance Health Infinity Policy that offers limitless benefits. This unique product comes loaded with high sum insured up to ?5 Crores, superior features like MoreGlobal Cover, Maternity Cover, OPD Cover, unlimited restoration of sum insured, and 15 plus useful add-on benefits. It also rewards customers f...
Newly Launched Reliance Health Infinity Policy Offers High Sum Insured up to ?5 Crores, Medical Equipment, Planned Global Treatments, Maternity Cover and many Limitless Benefits
Newly Launched Reliance Health Infinity Policy Offers High Sum Insured up to ?5 Crores, Medical Equipment, Planned Global Treatments, Maternity Cover and many Limitless Benefits
Source: PR Agency
15/12/2022 3:49:36 PM
Shocker for RCAP bidders, auction base price hiked by Rs 1.5K cr to Rs 6.5K cr In a bizarre move, the committee of Creditors of Reliance Capital (RCAP), in its meeting on Tuesday, has set new rules for the e-auction process, which has shocked all the bidders and put a question mark on the success of the proposed auction process. Rejecting all the earlier bids, the RCAP COC has set a new base price for the auction which is almost Rs 1,500 crore higher than the earlier base price. As per the earlier proposal, the bid value of Rs 5,231 crore quoted by the Cosmea and ...
Shocker for RCAP bidders, auction base price hiked by Rs 1.5K cr to Rs 6.5K cr
Shocker for RCAP bidders, auction base price hiked by Rs 1.5K cr to Rs 6.5K cr
Source: IANS
14/12/2022 9:38:46 AM
Reliance Capital lenders finalise e-auction plan for bidders The Reliance Capital's Committee of Creditors (COC) met on Friday and finalised the process and rules for conducting an e-auction for the bidders. The e-auction will begin on December 19, and will be an ascending auction process. The bid price of Rs 5,300 crore quoted by the Cosmea-Piramal consortium will be the base price for the planned auction, and in the round one, the bidders will have to bid Rs 1,000 crore more than this base value of Rs 5,300 crore. In the second round, th...
Reliance Capital lenders finalise e-auction plan for bidders
Reliance Capital lenders finalise e-auction plan for bidders
Source: IANS
10/12/2022 10:07:17 AM
Reliance Capital COC rejects all bids, decides liquidation The Committee of Creditors (COC) of Reliance Capital (RCAP), in its meeting held on Wednesday, has decided to reject all the binding bids that it received from the bidders on Monday. The COC is now considering sending Reliance Capital to liquidation, under the newly introduced regulation 6(A) of the IBC, whereby each individual business can be sold separately. According to sources, the decision to reject the bids had been taken as the lenders are of the opinion that the bid value offere...
Reliance Capital COC rejects all bids, decides liquidation
Reliance Capital COC rejects all bids, decides liquidation
Source: IANS
1/12/2022 10:49:44 AM
RCAP bidders seek another extension for bid submission Barely a few days away from the binding bids submission deadline, a few bidders are seeking another extension and have written to the Reliance Capital (RCAP) Administrator. Oaktree and Torrent have requested to extend the deadline for the bid submission, from the current November 28 to December 16, while Piramal and Zurich want the last date for submitting the binding bids to be extended to December 23. Both, Oaktree and Torrent had submitted non-binding bids for Reliance Capital CIC, u...
RCAP bidders seek another extension for bid submission
RCAP bidders seek another extension for bid submission
Source: IANS
23/11/2022 3:32:57 PM
Reliance Capital binding bids submission deadline extended to Nov 20  Reliance Capital Committee of Creditors (COC) has decided to extend the date of submitting the binding bids from October 31 to November 20. This extension has been granted in view of NCLT recently approving a 90 days extension for the completion of the overall resolution process, by January 21, 2023. The earlier date was November 1 this year. According to sources, voting on the final bids by the COC will take place in December. The date of filing the final Resolution Plan with ...
Reliance Capital binding bids submission deadline extended to Nov 20
Reliance Capital binding bids submission deadline extended to Nov 20
Source: IANS
21/10/2022 1:53:13 PM
Reliance General Insurance to soon launch nine sandbox approved products The Reliance General Insurance Company said on Tuesday that it will soon come out with nine sandbox products to meet evolving consumer needs. The company has already received approval for the same from the Insurance Regulatory and Development Authority of India (IRDAI). This announcement is in line with the company's long-term goal of re-innovating and redefining the insurance sector to cater to the fast-transforming customer expectations in the digital age. "Three out of th...
Reliance General Insurance to soon launch nine sandbox approved products
Reliance General Insurance to soon launch nine sandbox approved products
Source: IANS
22/12/2021 9:51:46 AM
Get 5% discount on health policy if vaccinated: Reliance General Private non-life insurer Reliance General Insurance Company Ltd, in a prudent underwriting move, has decided to offer a five per cent discount on premium for those who have taken the Covid-19 vaccination. According to Reliance General, customers who are renewing or buying afresh its Health Infinity insurance policy will be offered one time five per cent discount if they had taken the Covid-19 vaccination. The five per cent discount will be in addition to other discounts that are applica...
Get 5% discount on health policy if vaccinated: Reliance General
Get 5% discount on health policy if vaccinated: Reliance General
Source: IANS
5/05/2021 9:39:50 AM