Tue, Jul 2, 2024 9:30 AM
ICICI Prudential AMC buys office tower from Kalpataru in Mumbai
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Cello World's shares surged 4% to a record high of Rs 1,024 on BSE after launching a qualified institutional placement (QIP) to raise funds. The floor price is set at Rs 896.09 per equity share, with a possible 5% discount. The company aims to raise funds to repay promoter debt of Rs 3.3 billion and finance future capital expansion or acquisitions in the glassware segment.
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Lebanese venture capital firm Globivest is nearing the final close of its second fund. The Beirut-based firm, which focuses on pre-seed, seed, and Series A rounds, has invested in over 50 companies through its first fund. Having raised two-thirds of the targeted amount, Globivest is on track to reach its funding goal, although the exact amount was not disclosed.
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Nomura maintains a "neutral" rating on Yes Bank with a target price of ₹17, indicating a 29% downside from the current price of ₹23.93. The bank's June quarter update showed muted loan growth and a sequential decline in deposits, with a CASA ratio decline of 1% quarter on quarter. Nomura expects a return on assets of 0.5% in FY25 and 0.8% in FY26, and a return on equity of 4.5% in FY25.
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