Top headlines: Goenka fires another salvo at Invesco; Nykaa IPO on Oct 28

Business Standard brings you the top stories from today

Paytm gets Sebi approval for biggest Indian IPO in nearly a decade: Report

Paytm, India’s digital payments pioneer backed by SoftBank Group Corp., received approval from the markets regulator that clears the way for its planned $2.2 billion initial public offering.

The Securities and Exchange Board cleared the IPO, which will be India’s biggest so far, on Friday, according to people familiar with the matter. The company could list in Mumbai by mid-November, they added, asking not to be identified as the information isn’t public. Read more

Nykaa IPO opens Oct 28, price band at Rs 1,085-1,125 per share

FSN E-Commerce Ventures, operator of Nykaa beauty stores, has fixed the price band of Rs 1,085-Rs 1,125 for its maiden public share sale. The initial public offering (IPO) will remain open on October 28 and close on November 1.

At the top-end, the beauty startup will be valued at Rs 53,200 crore ($7 billion). Read more

Invesco wants to teach me lesson, wrest control of Zee board: Goenka

Punit Goenka, MD and CEO, today filed an affidavit in the National Company Law Tribunal (NCLT) alleging that Invesco wants to “teach him” a lesson for rebuffing their proposal for merging Zee with the media entities controlled by a rival Indian conglomerate.

The merger proposal by Invesco with the “strategic group’’, would have led to a massive loss to Zee shareholders in the absence of any valuation reports, Goenka informed the court. Read more

YES Bank Q2 net up 74% to Rs 225 cr on lower provisions, NII shrinks 23%

Private lender YES Bank’s net profit was up 74.3 per cent to Rs 225 crore in the second quarter ended September 2021 (Q2FY22), on an uptick in non-interest income and a dip in provisions due to lower slippages.

It had posted a net profit of Rs 129 crore for Q2 Fy 21. Sequentially, it was up nine per cent from Rs 207 crore in June 2021 (Q1FY22). Read more