LG Electronics India, a subsidiary of LG, has received approval from Sebi for a Rs 15,000 crore initial public offering. This IPO will involve the parent company selling over 10.2 crore shares, representing a 15% stake. The funds raised will go to the South Korean parent company, as the IPO is an offer for sale.
Related news
Employees in India can expect a 9.4% salary increase in 2025, driven by economic growth and high demand for skilled talent. The automotive sector leads with a projected 10% rise, while manufacturing and engineering follow closely. Voluntary attrition is anticipated to stabilize at 11.9%, and 37% of organizations plan workforce expansion to meet demand.
Zepto is conducting a secondary share sale of over $200 million to boost domestic ownership from 33% to at least 40% before its planned IPO, aiming for 50% eventually. Edelweiss Financial Services and Motilal Oswal Financial Services are buying shares from global investors. Zepto, recently valued at $5 billion, seeks to double its valuation to $10 billion.
EPFO's provisional payroll data for November 2024 shows a net addition of 14.63 lakh members, a 9.07% increase from October. Notable trends include a rise in new memberships, particularly among the 18-25 age group, and increased female participation. Top states contributing to the net member additions include Maharashtra and Karnataka, with significant growth in industries such as engineering and textiles.
Forex spending by Indians declined 14% to $2.4 billion in Oct 2024, with travel comprising the largest share. Simultaneously, domestic electronic spending peaked during the festive season, but saw a sharp decline in Nov 2024, with significant drops in credit, debit card, and UPI transactions.
UPI continues to set records, with March seeing 1,830 crore transactions worth Rs 24.8 lakh crore, a 36% rise in volume and 25% increase in value year-on-year. The platform now processes 59 crore transactions daily, averaging Rs 79,910 crore in daily value, showcasing significant growth.
NSE MD & CEO Ashishkumar Chauhan highlights India's potential to fund entrepreneurial dreams with 11 crore investors and 21 crore accounts. He also emphasizes the importance of MSMEs leveraging capital markets. Former Union minister Anurag Singh Thakur asserts that MSMEs will drive India's vision of becoming a developed country by 2047.
Telecom Minister Jyotiraditya Scindia affirmed continued government support for the mobile industry, emphasizing the importance of having at least four to five players. He stated satellite communication services will complement terrestrial networks to achieve complete coverage.
Indian banks' gross NPAs stood at a 12-year low of 2.6% in Sept 2024, but RBI's stress test warns it could rise to 3% by March 2026. Concerns include increasing write-offs by private banks and higher fresh NPAs in retail loans. The stress test also highlighted risks in microfinance and consumer credit segments, along with global tokenisation threats.
Infosys raised its revenue forecast for the fourth straight quarter, projecting 4.5-5% growth for the 2024-25 fiscal year. Revenue increases are driven by strong demand in banking and financial services sectors and easing pressures on discretionary spending. However, its stock price fell nearly 6% on the NYSE.
Pi Network launched its Open Mainnet on February 20, 2025, leading to considerable price fluctuations for Pi Coin. Analysts see significant growth potential if adoption increases, with predictions stating it could reach $100 or even $500 by 2030, contingent upon widespread adoption and practical utility.