Thu, Feb 8, 2024 8:35 PM
SEBI asks Zee Business guest experts to cough up Rs 7.41 crore
A Flip by Shubhangi Gupta
Eyewear startup Lenskart has called on bankers to pitch for the company’s initial public offering (IPO) wherein the firm is aiming to raise anywhere between $750 million and $1 billion, sources in the know told Moneycontrol. “The company is eyeing a valuation of $7-8 billion and is likely to list toward the end of fiscal year (FY) 2026,” one of the persons cited above said.
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Foreign portfolio investors (FPIs) resumed their selling streak in January after turning net buyers in December. So far this month, FPIs have sold nearly ₹12,000 crore worth of Indian stocks through exchanges. The change in sentiment reflects the impact of both global and domestic challenges, which is currently affecting overseas investors’ outlook on Indian equities.
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The pound dropped to a more than one-year low, stocks fell and gilts extended a fourth day of losses on concern the Labour government will struggle to keep the deficit in check as borrowing costs surge. Sterling fell for a third day, sliding as much as 1% to $1.2239, the lowest since November 2023. Gilts fell sharply at the open, with the 10-year yield rising as much as 13 basis points to 4.92%.
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