Indian markets regulator greenlights PhysicsWallah's pre-IPO draft filing
The pre-filing route allows companies to submit draft IPO documents confidentially for regulatory review before making them public.
PhysicsWallah filed draft papers with the SEBI through the confidential route, the Times of India newspaper reported, opens new tab in March, citing sources.
The company is planning to raise about 46 billion rupees ($532.8 million) through the offering, which comprises both a fresh issue of shares as well as shares on offer for sale, the report added.
Indian IPO market, which had a slow start to the year, has recently gained traction, with about 10 company listings on the bourses in July so far and three more IPOs currently open.
The regulator has approved IPOs of companies including WeWork India, Veeda Clinical Research and Seedworks International, among others, in July.
($1 = 86.3900 Indian rupees)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times
an hour ago
- Times
The best airlines in the world — according to you
Each year the Times and Sunday Times Travel Awards celebrate the very best of the business. But while editors decide on the shortlist, it's you, the readers, who choose the winners — based on the holiday companies and destinations that have impressed you over the past 12 months. Last year, more than 470,000 votes were cast for more than 100 companies and destinations. This year, for the first time, we have two different airline categories — breaking it down into best short-haul and best long-haul carriers to better reflect our travel habits. I've been writing about airlines and aviation for a decade, and have flown all over the world on scores of them, from Asia to America, so I know a thing or two about the best (and the worst). Now is the time to have your own say on the world's best airlines — and by voting you could win prizes ranging from a £1,600 mini-break in a pretty corner of Wales to a £45,000 itinerary around India's finest hotels. But before you click through to cast your vote, let's look at how you voted last year. Last year we had just one airline category, covering both short-haul and long-haul, which Emirates won. The Dubai-based carrier is one of the world's mega-connectors — each year it carries tens of millions of passengers, most of them transiting via its Gulf hub. British Airways came second and Singapore Airlines third. Emirates has always been a reader favourite. It may only have clinched the top spot in 2024, but in 2023 and 2022 it was in a solid second place after British Airways. Singapore Airlines, which flies to Heathrow, Gatwick and Manchester, has been in third place for the past three years. It's perhaps no surprise that British Airways lost out in 2024. In the latest Which? Travel report of short-haul airlines, it scored a middling 57 per cent for customer satisfaction score. • Have your say here — and be in with a chance of winning a great prize Singapore Airlines is regarded as one of the best airlines in the world, thanks to excellent customer service and a modern fleet, although it's likely readers don't fly it as often as our flag carrier. All three airlines, as well as Etihad Airways, Qatar Airways, Virgin Atlantic, Turkish Airlines, Tui Airways and Qantas, are shortlisted in the long-haul airline category. But this year, there is now also a best short-haul airline category, which means that budget carriers including easyJet, Ryanair and Wizz Air are in with a chance of an award. Emirates is a highly regarded carrier, loved for its convenient home base of Dubai and for its fleet of Airbus A380s, some of the sky's most comfortable and roomy planes. The 'Gulfie', so-called for its base in the Gulf, is also one of the world's most-connected airlines, this year launching new routes to exciting cities including Siem Reap in Cambodia and Shenzhen in southern China. It serves eight airports in the UK, including smaller hubs such as Glasgow and Newcastle. I have flown many times with Emirates over the past few years — always in economy — and have been consistently impressed with the product, particularly on its spacious Airbus A380s. Children are well catered for with toys and Emirates merch, and the in-flight entertainment is one of the best in the sky (if you can forgive the editing out of swear words). The same can be said of its premium cabins — in business class there's even an airport chauffeur thrown in with the fare and in first you can have a shower at 37,000ft. Given how much you fly, we know you have opinions on airlines — both good and bad. We want to know the airlines that you think have gone above and beyond in the past year, whether that's through superb customer service, a world-leading product or exciting new destinations, and now's the time to let us know. Click here to vote — you'll need to choose one in each category in order to be entered for the prizes.
Reuters
4 hours ago
- Reuters
Oil prices fall as OPEC+ output hikes counter Russia disruption concerns
NEW YORK, Aug 5 (Reuters) - Oil prices edged lower on Tuesday as rising OPEC+ supply and worries of weaker global demand countered concern about U.S. President Donald Trump's threats to India over its Russian oil purchases. Brent crude futures were down 58 cents, or 0.84%, to $68.18 a barrel at 12:17 p.m. EDT (1617 GMT), while U.S. West Texas Intermediate crude slipped 59 cents, or 0.89%, to $65.7. Both contracts fell by more than 1% on Monday to settle at their lowest levels in a week. The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, agreed on Sunday to raise oil production by 547,000 barrels per day for September, a move that will end its most recent output cut earlier than planned. "The significant increase in OPEC supplies is weighing on the market," said Andrew Lipow, president of Lipow Oil Associates. "The market now is going to see if India and China agree to substantially reduce the purchases of Russian crude oil, thereby looking for alternative supplies elsewhere." Trump on Tuesday again threatened higher tariffs on Indian goods over the country's Russian oil purchases over the next 24 hours. Trump also said declining energy prices could pressure Russian President Vladimir Putin to halt the war in Ukraine. New Delhi called Trump's threat "unjustified" and vowed to protect its economic interests, deepening a trade rift between the two countries. Oil's move since Trump's threat indicates that traders are sceptical of a supply disruption happening, John Evans of oil broker PVM said in a report. He questioned whether Trump would risk higher oil prices. "I'd call it a stable market for oil," said Giovanni Staunovo, an analyst at UBS. "Assume this likely continues until we figure out what the U.S. president announces in respect to Russia later this week and how those buyers would react." India is the biggest buyer of seaborne crude from Russia, importing about 1.75 million bpd from January to June this year, up 1% from a year ago, according to data provided to Reuters by trade sources. There are renewed concerns about global oil demand, with some analysts expecting faltering economic growth in the second half of this year.
Reuters
5 hours ago
- Reuters
India's ICICI Bank treasury head to move to securities unit, sources say
MUMBAI, Aug 5 (Reuters) - The head of treasury at India's ICICI Bank ( opens new tab will move to the private lender's securities arm, according to two sources familiar with the matter. B. Prasanna, who has headed the bank's treasury for nearly nine years, will move as head of corporate finance and investment banking at unlisted unit ICICI Securities, the sources said. Prasanna will report to ICICI Securities chief executive T.K. Srirang, one of the sources said. He will be replaced by Shailendra Jhingan, who currently heads ICICI Securities Primary Dealership, the sources said. Anubhuti Sanghai, currently head of transaction banking at ICICI Bank and non-executive director at the primary dealership, will take over from Jhingan, the sources added. ICICI Bank did not immediately respond to a Reuters query on the moves. In a stock exchange notice earlier in the day, the bank said that Prasanna will cease to be a senior management personnel at the bank due to a transfer within the group, without sharing details.
