With lockdowns accelerating food-delivery businesses, Zomato has filed for an initial public offering or IPO with the markets regulator SEBI on Wednesday

Zomato files for ₹8,250 crore IPO

After much anticipation food delivery and restaurant&nbsp;listing platform&nbsp;Zomato&nbsp;has filed for an initial public offering (IPO) with the markets regulator SEBI.
As per the draft prospectus filed by Zomato, the food-tech&nbsp;giant is looking to raise ₹8,250 crore, which is&nbsp;nearly $1.1 billion. Of this, ₹7,500 crore will be fresh issue, while ₹750 crore will be an offer for sale for its first investor Info Edge.
Zomato's&nbsp;revenue has jumped more than five times from ₹466 crore in FY18 to ₹2,604 crore in FY20. In a recent report brokerage house CLSA&nbsp;projected that&nbsp;India's food delivery business could be a $11 billion market in 5 years.

After much anticipation food delivery and restaurant listing platform Zomato has filed for an initial public offering (IPO) with the markets regulator SEBI. As per the draft prospectus filed by Zomato, the food-tech giant is looking to raise ₹8,250 crore, which is nearly $1.1 billion. Of this, ₹7,500 crore will be fresh issue, while ₹750 crore will be an offer for sale for its first investor Info Edge. Zomato's revenue has jumped more than five times from ₹466 crore in FY18 to ₹2,604 crore in FY20. In a recent report brokerage house CLSA projected that India's food delivery business could be a $11 billion market in 5 years.

14 listed companies, totaling a value of ₹10.1 lakh crore, that’s the value held in the stock market by the salt to software conglomerate Tata Sons. The

14 listed companies,&nbsp;totaling&nbsp;a value of ₹10.1 lakh crore, that&rsquo;s the value held in the stock market by the salt to software conglomerate Tata Sons. The massive rally in Tata Steel due to the global metal&nbsp;supercycle, supported by Tata Motors and Power as well has supported the&nbsp;upmove&nbsp;largely given by the heavyweight TCS. Overall&nbsp;the value of Tata Sons&rsquo; holdings is up a whopping 86% in just one year.&nbsp;

Mukesh Ambani climbs the retail king ladder as well Mukesh Ambani promoted Reliance Retail has been ranked the second-fastest growing retailer in

Mukesh Ambani&nbsp;promoted Reliance Retail has been ranked the second-fastest growing retailer in the world in the 2021 ranking of global retail power houses by Deloitte.&nbsp; &nbsp;&nbsp; Reliance Retail is India&rsquo;s only entry in the 250 ranks but was pipped for the pole post by South Korea&rsquo;s largest online retailer Coupang.&nbsp;&nbsp; &nbsp;&nbsp; In the overall ranking Reliance Retail has been ranked 53rdin the list of Global Powers of Retailing, improving from 56th earlier.&nbsp; &nbsp;&nbsp; The list is topped by US giant Walmart, which retains its position as world's top retailer. Amazon.com improved its position to rank second, while Costco slipped to third in the rankings&nbsp;&nbsp;

After a short weekend weekend breather, consumers got a jolt of another steep hike in fuel prices. Petrol Price were hiked by up to 26 Paise; Diesel by up to 35 Pa

After a short weekend breather, consumers got a jolt of another steep hike in fuel prices.&nbsp;Petrol prices were hiked by up to 26 Paise; Diesel by up to 35 Paise on Monday.&nbsp; Petrol is priced at an all-time high of Rs 98.86 per litre in Mumbai. In Delhi, petrol is available at Rs 91.53 per litre. In Chennai, a litre of petrol will cost Rs 93.38. Petrol is being sold at Rs 91.66 per litre in Kolkata. Petrol prices have now been hiked by 1 rupee and 14 paise&nbsp;over the last one week. Experts see further price hikes as crude continues to climb.&nbsp;Global prices inched towards $70/bbl mark after a major cyber attack that forced the shutdown of critical fuel supply pipelines in the United States

Keeping to his word on Twitter on April 1, Elon Musk promoted SpaceX will accept Dogecoin as payment for the DOGE-1 Mission to the Moon which will be launched betw

Keeping to his word on Twitter on April 1, Elon Musk promoted SpaceX will accept Dogecoin as payment&nbsp;for the DOGE-1 Mission to the Moon which will be launched between Jan-March of 2022.
SpaceX vice president was quoted as saying &ldquo;We&rsquo;re excited to launch DOGE-1 to the Moon!&rdquo;
DOGE-1 will fly a&nbsp;40-kilogram&nbsp;cube satellite as a payload on a Falcon 9 rocket to obtain lunar-spatial intelligence from sensors and cameras.
Dogecoin, the cryptocurrency&nbsp;which was created as a joke, has given 26,000% returns&nbsp;in the past six months. However, the value of the crypto&nbsp;fell as much as a third on Sunday when the 'Dogefather' called it a hustle on SNL.

In a response to West Bengal chief minister Mamata Banerjee's letter to Prime Minister Narendra Modi seeking exemption from GST on Covid related dru

In a response to&nbsp;West Bengal chief minister Mamata Banerjee's letter to Prime Minister Narendra Modi seeking exemption from GST&nbsp;on&nbsp;Covid&nbsp;related drugs and vaccines,&nbsp;Finance Minister Nirmala Sitharaman&nbsp;has said that&nbsp;GST exemption would make these items costlier. The FM tweet that a&nbsp;5 per cent GST rate ensures that the manufacturer is able to utilise ITC and in case of overflow of ITC, claim refund. Hence exemption to vaccines from GST would be counterproductive without benefiting the consumer. 
Currently, domestic supplies and commercial imports of vaccines attract a 5 per cent Goods and Services Tax, while it is 12 per cent in case of Covid drugs and oxygen concentrators.&nbsp;&nbsp;

According to a study by the Pew Research Centre, an estimated 75 million people have slipped into poverty in India since the pandemic began. A study by Azim Premji Univ

According to a study by the Pew Research Centre, an estimated 75 million people have slipped into poverty in India since the pandemic began last year. A study by Azim Premji University paints a much more grim picture- 230 million fell below the national daily minimum wage of 375 rupees since the covid outbreak in 2020.&nbsp; According to data from Centre for Monitoring Indian Economy, the rate of joblessness rose to nearly 8% in April 2021 from 6.5% in March with an exodus of more than 7 million people from the workforce.&nbsp;The informal sector, which employs approximately 411 million workers, has suffered the brunt of the restrictions and curbs. The pandemic-induced lockdowns have shrunk the incomes and exhausted the savings.&nbsp;The depleting household savings and falling incomes will affect domestic consumption, which accounts for almost 60% of the GDP, economists have warned.&nbsp; According to the government statistics, the GDP shrank 8% in the last year, the biggest contraction since 1952. Economists have slashed their forecasts for the current fiscal year. Although India could still emerge as one of the fastest growing economies, according to the NGO Oxfam, it will also be one of the most unequal country.&nbsp;

Cadila Healthcare Ltd. plans to submit trial data for its Covid-19 vaccine by end of May and is looking for an approval in June, Financial Express r

Cadila&nbsp;Healthcare&nbsp;Ltd.&nbsp;plans to submit trial data for its Covid-19 vaccine by end of May and is looking for an approval in June, Financial Express&nbsp;reported&nbsp;citing Sharvil Patel, managing director of Cadila.
The Phase-III clinical trials of the ZyCoV-D vaccine will be representative of its efficacy against many known variants as different ones have surfaced in this wave, Patel told Financial Express.&nbsp;
Cadila Healthcare&nbsp;started producing its potential Covid-19&nbsp;vaccine last month for which it will seek emergency use authorisation in May or June, with an aim to make up to 240 million doses a year.

India's largest insurer will now allow alternate proofs of death in lieu of municipal death certificates in order to facilitate speedy settlement of deat

India's largest insurer will now allow&nbsp;alternate proofs of death&nbsp;in lieu of municipal death certificates in order to&nbsp;facilitate speedy settlement of death claims.&nbsp;
The other proofs of death include death certificate, discharge summary/death summary containing clear date and time of death issued by government/ESI (employees' state insurance) /armed forces/corporate hospitals and counter-signed by LIC class I officers or development officers of 10 years standing. This has to be submitted along with a cremation/burial certificate or authentic identifying receipt issued by the relevant authority, LIC&nbsp;stated.&nbsp;
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Amazon's annual Prime Day event which is blockbuster sale day for the e-commerce giant will be postponed this year for India due to the covid crisis and local

Amazon's annual&nbsp;Prime Day event which is blockbuster sale day for the e-commerce giant will be postponed this year for India due to the covid&nbsp;crisis and localised lockdown&nbsp;leading to delivery disruptions.&nbsp; Amazon&rsquo;s flagship Prime Day sale is scheduled to take place globally in June but will not to be launched in India at that time as per reports.&nbsp; Last year Amazon launched it's Prime Day sale in India in August and&nbsp;saw sales of as much as $500 million in the 2-day event.&nbsp;
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In a notification on Friday the govt has allowed hospitals, dispensaries and COVID-19 care centres to accept cash payments in excess of Rs 2 lakh from patients or

In a notification on Friday, the govt has allowed hospitals, dispensaries and COVID-19 care centres to accept cash payments in excess of&nbsp;₹2 lakh from patients or on behalf of them till May 31.
Central Board of Direct Taxes (CBDT) stated that the person making the payment will have to produce their PAN or Aadhar&nbsp;card and also establish the relationship between the patient and themselves.&nbsp;
Many Covid&nbsp;centres were demanding cash which was not permissible above the limit of&nbsp; ₹2 lakh&nbsp;as per&nbsp;income tax law.&nbsp;

WhatsApp has scrapped its May 15 deadline for users to accept its controversial privacy policy update and said not accepting the terms will not lead to deletion of acco

WhatsApp has scrapped its May 15 deadline for users to accept its controversial privacy policy update and said not accepting the terms will not lead to deletion of accounts. A WhatsApp spokesperson told PTI that no accounts will be deleted on May 15 for not accepting the policy update. The PTI report further added that while a &ldquo;majority of users who have received the new terms of service have accepted them," some people have not had the chance to do so yet. WhatsApp has not clarified the reason behind the decision and did not divulge the number of users who have accepted the terms so far either. The company had faced severe backlash over concerns that user data was being shared with Facebook

In a move to safeguard assets overseas from the threat of Cairn seizing them the Govt has asked state run banks to reduce cash holding in overseas accounts as per ET.&n

In a move to safeguard assets overseas from the threat of Cairn seizing them the Govt has asked state run banks to reduce cash holding in overseas accounts as per ET.&nbsp; Govt though is looking to appeal is liable to pay Cairn&nbsp;$1.2 billion in damages in a long drawn-out tussle over retrospective tax claims.
Cairn has registered its claim against India in courts in the United States, Britain, France, the Netherlands, Singapore and Quebec, moves that could make it easier to seize assets and enforce the billion dollar award.
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Flurry of fuel price hikes post elections continues as, Friday marks the fourth straight day of hike in petrol and diesel prices across the nation, with fuel pumps in R

Flurry of fuel price hikes post-elections continues as, Friday marks the fourth straight day of hike in petrol and diesel prices across the nation, with fuel pumps in Rajasthan&nbsp;and Madhya&nbsp;Pradesh&nbsp;retailing petrol over ₹102/litre.&nbsp; Petrol price was hiked by a steep 29 paise per litre and diesel by 31 paise a litre. This brings the cumulative hike in petrol to 88 paise&nbsp;just this week. Here are the rates in the metros as of Friday:&nbsp; Delhi - ₹91.27 Mumbai&nbsp;- ₹97.61 Bangalore - ₹94.30 Chennai -&nbsp;₹93.15
This is the second time this year that rates in some parts have crossed the ₹100 mark - they had breached the physiological mark for the first time in mid-February.
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Reports indicate that IPO bound Zomato is looking to invest in e-grocery delivery platform Grofers. Economic Times reports as per sources that food delivery

Reports indicate that IPO&nbsp;bound Zomato is looking to invest in&nbsp;e-grocery delivery platform Grofers.
Economic Times reports as per sources that food delivery app Zomato is looking to invest $100 million in SoftBank&nbsp;backed&nbsp;Grofers,&nbsp;&nbsp;this comes after failed talks of a possible merger over a year ago.
Deepinder Goyal-led Zomato&nbsp;is looking to make the investment as Grofers&nbsp;backs out of US IPO&nbsp;plans and rival Swiggy&nbsp;also looking at fund raising from SoftBank.&nbsp;

Private jet and helicopter operator JetSetGo has seen a 900% surge in bookings from India in recent weeks with Indian families and expats looking to flee Indi

Private jet and helicopter operator JetSetGo&nbsp;has seen a 900% surge in bookings from India in recent weeks with Indian families and expats&nbsp;looking to flee India's covid inferno.&nbsp; Kanika Tekriwal, CEO&nbsp;told CNBC&nbsp;that,&nbsp;"The majority of them are fleeing to Maldives, which currently offers quarantine at a secluded resort for passengers arriving from India, or Dubai, which allows entry from business purposes." But it is not just tycoons or celebrities JetSetGO&nbsp;is now seeing 70% demand coming from upper middle class families that are pooling resources. So how much does it cost?&nbsp;$18,000 to $20,000 for an eight-seater jet to Maldives, or $31,000 for a six-seater jet to Dubai confirms&nbsp;JetSetGO.

As India continues to report record high covid cases and fatalities, brokerages and think tanks rework this years economic reality. IMF is now looking at redu

As India continues to report record-high covid&nbsp;cases and fatalities, brokerages and think tanks rework this year's economic reality. IMF&nbsp;is now looking at reducing India's growth projection from the optimistic 12.5% for this year.&nbsp;
"We're all watching what is happening in India with concern," IMF&nbsp;spokesperson&nbsp;Gerry Rice said. "There will be spillovers ... contingent on how deep and how long the severity of this crisis continues." S&amp;P ratings have already reworked India's growth projection to below the 10% mark along with brokerages such as UBS, Goldman Sachs.
India reported a record 4.12 lakh new COVID-19 cases on Thursday and a record 3,980 deaths, as the second wave of infections swamped its healthcare system.

96% efficacy, that's the word coming in from Moderna on Thursday it declared the results of its first clinical trials of it's Covid-19 vaccine among yout

96% efficacy, that's the word coming in from&nbsp;Moderna&nbsp;on Thursday it declared the results of its first clinical trials of it's&nbsp;Covid-19 vaccine among youths aged 12 to 17. With a trial pool of&nbsp;3,235 participants in the United States, it detected only 12 cases of coronavirus 14 days after the first shot. For these intermediate results, participants were followed up on average 35 days after the second injection. Moderna&nbsp;also claimed that any side effects had been "mild or moderate in severity," most commonly pain at the injection site.
Pfizer has already applied for authorization of their own vaccine for 12-15 year olds in the United States and Europe. On Wednesday, Canada became the first country to authorize the Pfizer shot for this age group.
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The govt has approved strategic sale of stakein IDBI bank to handover the charge to a new promoter. The government holds 45.48 per cent in IDBI Bank

The govt has approved strategic sale of stakein&nbsp;IDBI&nbsp;bank to handover the charge to a new promoter.&nbsp;The government holds 45.48 per cent in&nbsp;IDBI Bank&nbsp;while LIC holds 49.24 per cent. It was however not clarified how much stake each would sell.&nbsp; A govt official told Business Standard "A new buyer acquiring the government&rsquo;s entire stake in the bank would have still left LIC as a co-promoter or a majority shareholder, affecting key decisions. DIPAM will now scout for a buyer that will have to meet the RBI&rsquo;s fit and proper criteria" LIC&nbsp;had invested into IDBI&nbsp;in 3 tranches&nbsp;in FY19 at an average cost of Rs 60/share, the current market price for the company is significantly lower which will lead to a hit to the insurers investment.&nbsp;

Dogecoin continues its journey 'to the moon' as the cryptocurrency surged over 12,000% since the beginning of 2021. The meme-coin touched an all-time h

Dogecoin&nbsp;continues its journey 'to the moon' as the cryptocurrency&nbsp;surged over 12,000% since the beginning of 2021.&nbsp;
The meme-coin touched an all-time high of $0.72 in the late trading session on Wednesday as per the cryptocurrency&nbsp;exchange WazirX.
As per&nbsp;CNBC&nbsp;calculation,&nbsp;a $1,000 Dogecoin purchase on January 1, 2021, would be worth over $120,000 on Wednesday. In domestic currency terms, an investment of ₹1 lakh&nbsp;in January would be around ₹1.2 crore&nbsp;now.

Even as India has opened multiple avenues for vaccines to imported why is the popular Pfizer jab still not here? According to reports the negotiations are stuck in a de

Even as India has opened multiple avenues for vaccines to imported why is the popular Pfizer jab still not here? According to reports the negotiations are stuck in a deadlock over the&nbsp;indemnity clause.&nbsp; Economic Times reports that as per govt sources, Pfizer is insisting on an indemnity clause which absolves the company from paying any legal cost in case of an adverse event. Pfizer has signed an indemnity clause with many countries that are using its vaccine.&nbsp;
India has not offered any protection against adverse effects such as serious illness or death caused by the vaccine to any vaccine manufacturer till now.&nbsp;

After much anticipation food delivery and restaurant&nbsp;listing Zomato&nbsp;has filed for an initial public offering (IPO) with the markets regulator SEBI.

Zomato gears to deliver billion dollar IPO, files papers with SEBI

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Why is the Pfizer vaccine not in India yet?

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