Haldiram's has sold stakes to International Holding Company (IHC) and Alpha Wave Global amid global expansion plans, particularly targeting the US and Middle Eastern markets. The investment is part of an equity round, valuing Haldiram's at around USD 10 billion. This move aims to bolster their market presence and product offerings internationally.
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India's economy is set to slow to a four-year low of 6.4% in 2024-25, due to a decline in manufacturing and weak investment. The farm sector's strong growth and increased rural consumption offer some relief, while a rate cut by the RBI is anticipated to spur demand.
Indian companies raised a record Rs 3.8 lakh crore in FY25 through IPOs and QIPs, apart from debt. Including rights offers, total funds raised approached Rs 3.9 lakh crore. Major IPOs included Hyundai Motor, Swiggy, and NTPC Green Energy. Debt instruments raised Rs 11.1 lakh crore. Strong listing gains and institutional support boosted fund-raising.
Indian manufacturers foresee growth in US revenues for leather goods, non-leather footwear, and textiles, driven by lower tariff rates compared to China, Vietnam, and Bangladesh. However, Indian carpet makers express concerns over the competitiveness of their products due to higher tariffs compared to Turkey, Azerbaijan, and Nepal, threatening their business margins.
DAM Capital Advisors has raised Rs 251 crore from anchor investors, including prominent names like Nomura, Goldman Sachs, and several mutual funds. The investment bank's IPO, entirely an offer-for-sale, opens on December 19th with a price band of Rs 269-283 per share, aiming for a Rs 2,000 crore market capitalization. Listing is expected on December 27th.
The Indian government has lifted the export ban on broken rice, imposed in September 2022, to boost shipments and due to rising inventories. This follows the removal of the minimum export price and previous bans on non-basmati white rice amid sufficient domestic stocks and stable retail prices.
The Trump administration's policies are causing concerns among F-1 student visa holders, H-1B visa holders, and green card holders. Many are hesitant to travel outside the US due to potential re-entry issues.
Economic forecasters anticipate slower growth, higher unemployment, and faster inflation in the US, with increased chances of a recession. Indications of a slowdown emerge from business and consumer sentiment, although actual activity remains solid. President Trump remains firm on implementing tariffs despite market responses, raising concerns about the potential economic impact and possible effects on his approval ratings.
NHAI has prepaid loans of Rs 56,000 crore this fiscal year, reducing its debt from Rs 3.3 lakh crore to around Rs 2.8 lakh crore. With help from budgetary allocation and monetisation proceeds, NHAI aims to further reduce debt by March and save Rs 1,200 crore in interest costs.
India and Indonesia discussed the potential sale of BrahMos missiles, highlighting local defence production expansion and bilateral cooperation. PM Narendra Modi and Indinesia President Prabowo Subianto committed to fighting terrorism and enhancing defence collaboration.
EET Fuels, operating as Essar Oil (UK), secures $350 million in new bank and upsized trade credit financing, including $150 million from Afreximbank. This fund aims to reduce carbon emissions by 95% and develop Stanlow as an energy transition hub, focusing on industrial carbon capture and low carbon hydrogen production.