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Friday, November 1, 2024

Swiggy IPO gets $15 billion bids from Norway's wealth fund, fidelity

Swiggy has received enthusiastic investor interest for its $1.4-billion IPO in India, with bids from big investors like Norges Bank and Fidelity exceeding $15 billion. The IPO, launching next week, has seen its valuation reduced to $11.3 billion due to a recent market correction.

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Thursday, October 31, 2024

HDB Financial Services files draft documents for Rs 12,500 crore IPO

HDB Financial Services, a subsidiary of HDFC Bank, has filed draft documents with Sebi to raise Rs 12,500 crore via an IPO, comprising Rs 2,500 crore in fresh shares and Rs 10,000 crore through an OFS by HDFC Bank. The funds will bolster its Tier-I capital and support business expansion.

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Wednesday, October 30, 2024

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

The US economy grew at an annual rate of 2.8% from July to September, driven by strong consumer spending despite high interest rates. The Federal Reserve's favored inflation gauge dropped to its lowest in four years. The GDP data signals a resilient economy with moderating inflation, benefiting the central bank's policies.

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Diwali 2024 bank holidays: Are banks closed on October 31 or November 1? Full state-wise Diwali bank holiday list

Diwali 2024 bank holidays full list: Bank holidays for Diwali in 2024 vary across Indian states. Diwali, also known as Deepavali, is a Hindu festival that celebrates the triumph of light over darkness, good over evil, and knowledge over ignorance.

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India’s gold reserve hike to 855 metric tonnes despite global economic slowdown

India's gold reserves, managed by the Reserve Bank of India, total 854.73 metric tonnes, with 510.46 metric tonnes stored domestically and 324.01 metric tonnes internationally. Gold’s share in India's foreign exchange reserves increased to 9.32% by September 2024, from 8.15% in March 2024, reflecting its rising importance amid global economic fluctuations.

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