Top headlines: 10 Indian startups may get $10 bn in IPO, IBC set to resume

Over 10 Indian start-ups may mop up at least $10 billion in IPO rush

Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing. Read more

IBC set to resume; relief for key worst-affected sectors on the cards
The central government is contemplating lifting the blanket suspension of the Insolvency and Bankruptcy Code (IBC) to accelerate resolving stressed assets. It may also consider giving relief to some of the worst-affected sectors. Fresh proceedings under the IBC are suspended till March 24. Read more

Factory reset: Bumps galore, but auto hubs breathe easy on sales spike

The traffic tells a story. During the lockdown, it took 45 minutes to zip through the deserted 35-km stretch from Chennai to reach the automobile heart of Sriperumbudur-Oragadam. Today, it takes two hours, sometimes more. The automobile nucleus is humming again. The industry’s order books are full. But the fortunes of large manufacturers and their small and medium component suppliers vary. 

This first of a four-part series looks at signs of comeback after months of lockdown-linked pain in the automobile cluster. Read more

India Inc's profit contribution to GDP likely to jump three times
India Inc’s contribution to gross domestic product (GDP) is predicted to nearly treble by FY23. The ratio in FY20 was the lowest in two decades, at just 1.8 per cent. The Centre's move in 2019 to cut base corporate tax from 30 per cent to 22 per cent, too, will lead to an improvement in the profit-to-GDP ratio. Read more

FinMin to infuse Rs 3,000 cr in state-owned general insurers this quarter
The Finance Ministry will infuse Rs 3,000 crore capital into state-owned general insurance companies during the current quarter in a bid to improve their financial health. Read more

Maruti Suzuki moves up the gears, plans to become an aspirational brand
To that end, it has worked hard on design tweaks and technological upgrades in its models, besides overhauling its retail network in a big way. Read more

Bitcoin nears $50,000-mark as it hits a record in weekend action

Bitcoin reached a new record on Sunday, rising above $49,000 for the first time. The world’s largest cryptocurrency reached about $49,344 earlier in the day, and was around $49,202 as of 10:20 a.m. in London. It’s now up about 70 per cent so far this year. Rival cryptocurrency Ether hit a record on Saturday and is up about 150 per ent year-to-date. Read more

InMobi's Glance eyes TikTok acquisition to become a global powerhouse

With 125 million active users straddling on its digital platform in India and South-East Asia daily, Glance — part of the inMobi group — has set an ambitious growth plan in a bid to become a global powerhouse. According to sources, it has started negotiations with Chinese tech giant Bytedance to acquire TikTok, which was banned in India, in order to achieve the objective. Read more

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