Thu, Oct 19, 2023 8:34 AM
Stock Market Today: Top 10 things to know before the market opens
A Flip by Shubhangi Gupta
Hexaware Technologies Limited, a global digital and technology services provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The Mumbai-based company aims to raise ₹9,950 crore through its IPO. The IPO will be a complete offer for sale by CA Magnum Holdings, a Carlyle Group entity and the promoter selling shareholder.
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Zepto, a quick commerce startup, has selected investment banks Goldman Sachs, Morgan Stanley, and Axis Capital as advisors for its IPO planned for the second half of 2025, aiming to raise $450-500 mn. Zepto’s move follows its $1 billion fundraising in 60 days and rivals Swiggy's plans for an IPO. Zepto, a Singapore-headquartered company, is flipping its base back to India to list on the bourses.
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India’s wealth management industry is entering a pivotal phase, with current assets under management (AUM) estimated between $1-1.2 trillion. As India accelerates its trajectory as the fastest-growing economy coupled with a dynamic investment landscape, the Indian wealth management industry is poised for sufficient expansion.
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