India Inc raises record $30 billion in 6 months, riding FPO wave
13 Jul
Business News

India Inc raises record $30 billion in 6 months, riding FPO wave

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Business new tamfitronics MUMBAI: Indian companies raised a record $29.5 billion (nearly Rs 2.5 lakh crore) in the equity market through IPOs & FPOs during the first half of 2024, more than double the amount raised in the same period last year. The Jan-June total is the highest-ever in terms of proceedswith the number of issuances also rising 64%.The surge has been driven by follow-on public offers (FPOs) this year - making up 85% of the total proceeds this year, LSEG's India Investment Banking Review said.In the first half of 2024, Indian IPOs raised $4.4 billion - a 98% increase compared to the year-ago period. The number of IPOs also saw a 71% jump year-on-year. India accounted for 27% of global IPOs by volume, up from 13% in the same period last year.Follow-on...
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Air India welcomes its first narrow body aircraft with its new livery
09 Jul
Business News

Air India welcomes its first narrow body aircraft with its new livery

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Business new tamfitronics PUNE: Air India welcomed its first narrow-body aircraft in the new livery early this morning. The Airbus A320 Neo, registered VT-RTN, landed at New Delhi’s IGI Airport from the Airbus facility in Toulouse, France, marking a significant milestone in Air India’s transformation journey.The A320neo aircraft joining the Air India fleet will feature a three-class configuration: 8 luxurious Business Class seats, 24 Premium Economy seats with extra legroom, and 132 comfortable Economy Class seats.The introduction of Premium Economy cabins on narrow-body aircraft is a first for Air India. This aircraft is expected to enter service in August 2024, operating on domestic short-haul routes. Three A320neo aircraft in three-class configurations with the old Air India livery have already started operating in the domestic network.From early next year, Air India will start...
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India Set to Introduce Digital India Bill to Combat Deepfake Videos and Regulate Online Content
08 Jul
Science & Technology

India Set to Introduce Digital India Bill to Combat Deepfake Videos and Regulate Online Content

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Technology tamfitronics NEW DELHI: With an aim to check artificial intelligence (AI)-generated deepfake videos and explore better ways to use the technology, the Union government is likely to introduce the Digital India Bill in upcoming Monsoon Session of Parliament. According to sources, the Bill aims to explore better ways to use technology and develop legal frameworks to address challenges posed by deep fakes and AI-generated content, reflecting the growing global concern about these issues. The legislation will also regulate videos on various online mediums, including YouTube and social media platforms. The sources also said that the government would try to get a cross-party consensus on the Bill before its introduction in Parliament. ...
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India and U.S. vow to boost defense and trade ties in first high-level U.S. visit since Modi’s win
20 Jun
Science & Technology

India and U.S. vow to boost defense and trade ties in first high-level U.S. visit since Modi’s win

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Technology tamfitronics NEW DELHI — India and the United States on Monday pledged to strengthen defense and technology cooperation and remove long-standing barriers to bilateral strategic trade, following a meeting between the national security advisers of both countries.National Security Adviser Jake Sullivan is on a two-day visit to the Indian capital, New Delhi, the first from a high-ranking U.S. official since Prime Minister Narendra Modi secured a third straight termin India’s general election earlier this month. Sullivan met with his counterpart, Ajit Doval, to discuss progress on the Initiative on Critical Emerging Technologies, which the two countries launched in 2022.The initiative sets a path for collaboration on semiconductor production and developing artificial intelligence and was critical in sealing a deal that will allow U.S.-based General Electric to partner with India’s Hindustan Aeronautics to produce jet engines in India.On...
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