BSE

ED showcauses Xiaomi, 3 banks for Fema violations | India News

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NEW DELHI: Taking cognisance of the Enforcement Directorate’s investigation, the adjudicating authority for Fema has issued showcause notices to Xiaomi Technology India Pvt Ltd, its officials and three banks — CITI Bank, HSBC Bank and Deutsche Bank AG — for allowing foreign outward remittances in the name of royalty to the tune of Rs 5,551 … Read more

LIC’s IPO, India’s largest at ₹21k crore, subscribed 3 times

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MUMBAI: The Rs 21,000-crore initial public offering (IPO) for life insurance behemoth LIC received a huge response from domestic institutions and was oversubscribed nearly three times by the time it closed on Monday. LIC’s policyholders, its employees, retail investors, high net worth investors (HNIs) and domestic financial institutions contributed handsomely to the offer. On the … Read more