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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The Mumbai-based executive education firm’s IPO was supposed to be a trendsetter. But a failed launch delays the adoption of GIFT City exchanges as a lucrative option to raise foreign capital.
XED Executive Development has decided to let go of its IPO dreams for now as the issue failed to generate a satisfactory response from investors. The issue, which was celebrated as a first for the Gujarat International Finance Tec-City, or GIFT City, could only achieve a subscription of 5%.
“The company decided to withdraw the public issue in the current environment and hopes to tap the market at an appropriate time in the future,” XED said in a statement.
The issue was scheduled to open for subscription on 6 March, but was postponed to 16 March in view of the …
A dismal track record in portfolio management services doesn’t help the firm as it takes its first steps in a crowded industry dominated by some heavyweights.
The regulator’s shift to an auction-based close was meant to curb manipulation and mirror global markets. Instead, it has run into thin participation that is only amplifying distortions and volatility.
From cancelled races to scrambled calendars, the Iran conflict is testing an over two-decade partnership that powered the sport’s growth.
