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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.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
Building materials platform Infra.Market seems to be taking a rare route to the public markets. Instead of launching a traditional IPO, for which it has had SEBI approval since January this year, the company is preparing for a Rs 10,440 crore share swap with listed paints manufacturer Shalimar Paints. The unusual part is that Infra.Market already owns about 52% of Shalimar through its parent company, Hella Infra Market. The swap would reverse the parent-subsidiary relationship and has already been approved by Shalimar’s board. Shareholder approval is still pending.
As per Shalimar’s filing, the paints company will issue new equity shares …
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
