NSE has wrapped up roadshows and begun valuing its mega IPO, with institutions bidding at the top of the range and ~$1 billion in QIB commitments pointing to ₹2,500-2,800 a share. Final pricing lands in about two weeks, though domestic appetite and SEBI approval still loom. Listing is targeted by late September.
Swiggy shareholders approved capping foreign ownership at 49.5% to qualify as an Indian-owned and controlled company (IOCC) under FDI rules, a year after a similar proposal was rejected. Foreign holdings currently sit at 49.76%, just above the new ceiling; IOCC status could let quick-commerce arm Instamart move to an inventory-led model.
SBI Research projects India's balance of payments will post a ~$50 billion surplus in FY27 with the current account deficit contained at 1% of GDP, driven by a surge of foreign currency inflows. The RBI's FCNR(B) scheme has already drawn $57 billion, with another $25-30 billion expected by the end of August.
SEBI's new consultation paper would let NRIs, OCIs and foreign nationals complete KYC digitally from abroad and reuse verified details across intermediaries, killing in-person onboarding and repeat paperwork. If finalized, account opening that takes weeks could shrink to days, opening Indian markets to a far larger, stickier overseas investor base.
India has asked the WTO for consultations with Washington over its four-year tariff-rate quota on quartz surface products (up to 50% above quota), citing "substantial interest" after roughly $380 million of FY26 exports. It's New Delhi's fourth safeguard challenge to US trade measures; failure to settle in 60 days opens the door to a dispute panel.
India's market regulator proposes scrapping the 60-day settlement window, letting parties settle even after cases reach SAT or the Supreme Court. With over 1,600 appeals pending and simpler fee calculations on the table, the overhaul could clear a massive litigation backlog, though fraud cases may stay off-limits.
India's first gene-edited rice variety, Pusa Rice DST1, is set for commercial production this rabi season after a government release. The ICAR-developed edit targets the Drought and Salt Tolerance gene and delivered up to 30% higher yields in saline field trials, a step toward water-stressed farming.
India's ten largest private banks slashed over 10,000 roles in FY26, a sharp reversal from the 83,645 they added in FY24, as technology-led efficiency finally shows up in headcount. The big four cut 14,364 jobs while still growing branch networks, and banks say AI's full impact is still to come.
CCI has cleared Prudential plc's Rs 3,500 crore ($389 million) acquisition of a 75% stake in Bharti Life Insurance from Bharti Life Ventures and 360 ONE, clearing a key regulatory hurdle. Prudential must now trim its existing 22% ICICI Prudential Life holding to stay within ownership rules.
Red Sea and Hormuz disruptions are cutting term-deal supply, so Indian refiners are being pushed into pricey spot Gulf crude that now runs about $10 a barrel above Brent. The discounts on Russian and Venezuelan crude that appeared during the US-Iran truce have largely evaporated as the 60-day ceasefire expired, squeezing margins and forcing refiners toward the US, Brazil and Guyana.
India is weighing cutting or scrapping its 100% sugar import duty to boost supplies before festival-season demand, as ex-mill prices hit a record ₹46/kg. The move signals strain across the global sugar market, with El Niño fears and a 13% monsoon deficit threatening harvests in the world's second-largest producer.
India plans its first cargo voyage on Russia's 5,600-km Arctic Northern Sea Route in 2027, with Arkhangelsk discussing shipbuilding and port cooperation. The route could cut up to 40% of distance and two weeks of travel time to Europe versus the disrupted Suez corridor, boosting India-Russia trade.
IFSCA proposes notifying operating leases of GPUs and connected data-centre equipment as a financial product at GIFT City, extending its aircraft- and ship-leasing playbook to AI compute. The target: an estimated $23 billion investment to deploy up to 700,000 GPUs in India over five years, with the country holding under 5% of global AI-optimised compute.
You’re caught up.
That was all 13 stories in the 19 August issue.