The Reserve Bank of India (RBI) has joined Project Nexus, a multilateral initiative to enable instant cross-border retail payments by interlinking domestic fast payment systems. The platform, aimed to go live in 2026, will connect India with four ASEAN countries, making retail cross-border payments efficient, faster, and more cost-effective.
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Sagility India has filed a draft red herring prospectus to raise funds through an initial public offering, solely consisting of an offer-for-sale of 98.44 crore equity shares. The company reported a 59% year-on-year increase in consolidated net profit to ₹228.3 crore in FY24, with operating revenue rising 12.7% to ₹4,753.6 crore. The company's EBITDA also increased 5.9% to ₹1,088 crore.
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Emcure Pharma, the 13th largest player in the Indian pharmaceutical market, is launching a ₹1,952 crore IPO, comprising a fresh issue of ₹800 crore and an offer of sale of ₹1,152 crore, representing 10.2% of the post-paid-up capital. The proceeds will be used to repay debt of ₹600 crore, among other purposes. The IPO values the company at 36 times its FY24 net profit.
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